Department Of Energy Loans Record $26.5 Billion To Boost Southern Power Grid, Targets Massive Cost Savings - Amazon.com (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT)

The U.S. Energy Department announced its largest-ever loan of $26.5 billion on Wednesday to bolster electric power in Georgia and Alabama, aiming to deliver over $7 billion in electricity cost savings. The department will allocate the loan to subsidiaries of the utility Southern Company. The loan will facilitate the establishment of new gas power, upgrades to existing nuclear power plants and water power, improvement of battery storage systems, and enhancement of power lines.Energy Secretary Chris Wright st ...