US Energy Department commits up to USD 500 million in Defense Production Act funds for 13 coal plants and export terminal
The US Department of Energy said it will provide up to USD 500 million in Defense Production Act Title III funding to back 13 American coal-fired power plants and new coal export infrastructure, according to a DOE announcement.
The department said the package allocates up to USD 425 million to twelve projects selected to expand the country's coal fleet, and up to USD 75 million to the West Gateway Terminal Project, a rail-served marine export terminal capable of handling more than 10 million tons of bulk commodities annually.
According to the DOE, the West Gateway project in Oakland, California, will expand West Coast export capacity and support energy exports to allied nations including Japan, South Korea, Taiwan, Vietnam, and Malaysia.
Energy Secretary Chris Wright said the United States will continue to support its coal fleet and domestic supply chains to ensure national security.
Source: energy.gov (opens in a new tab)1 sourcePermalink