Pinnacle West Capital's (PNW) Arizona Public Service unit said Friday that it been awarded $70 million in US Department of Energy grants to enhance grid resilience and wildfire prevention under the Grid Resilience and Innovation Partnerships program.
The funding includes $50 million to expand APS's wildfire mitigation efforts, Arizona Public Service said.
An additional $20 million will support smart grid improvements to boost reliability and power delivery, particularly in rural areas, the company said.
Price: 86.97, Change: -0.12, Percent Change: -0.14
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.