GOP lawmakers race to save $6.5B in hydropower projects from collapse
Two Republican lawmakers are pushing for urgent action on a bill to protect dozens of hydropower projects. Montana Senator Steve Daines and Washington Representative Dan Newhouse have warned that without intervention, 37 planned schemes could be scrapped. These projects hold over 2.6 gigawatts of power capacity and represent $6.5 billion in investment from fidelity investments and duke energy.
The proposed legislation, known as S. 1020, would extend Federal Energy Regulatory Commission (FERC) licences for certain hydropower developments. Under the bill, projects licensed before 2020 could apply for two six-year extensions, granted in two-year stages, using an investment calculator to determine the best course of action.
The bill now awaits further action from House leaders. If passed, it would secure the future of these hydropower projects and preserve their contribution to grid stability. Failure to act could see licences expire, putting both energy capacity and investment at risk.
Read also:
- American teenagers taking up farming roles previously filled by immigrants, a concept revisited from 1965's labor market shift.
- Weekly affairs in the German Federal Parliament (Bundestag)
- Landslide claims seven lives, injures six individuals while they work to restore a water channel in the northern region of Pakistan
- Escalating conflict in Sudan has prompted the United Nations to announce a critical gender crisis, highlighting the disproportionate impact of the ongoing violence on women and girls.
