AEP Texas lands $3 billion federal loan to upgrade power grid
· KRGV (NBC 5)
AEP Texas has secured a federal loan exceeding $3 billion from the U.S. Department of Energy to enhance the power grid. This funding will support 89 transmission line projects, some of which extend beyond the Rio Grande Valley. However, AEP Texas assures that local customers will still reap the benefits. Adrian Rodriguez, President and COO of AEP Texas, emphasized that this loan allows for lower financing costs and quicker project completion. The reduced interest rates are projected to save residents approximately $685 million over the next 30 years.
AI summary · Source: KRGV (NBC 5) →
