By Chris Wack

National Grid was awarded a $50 million grant from the U.S. Department of Energy for a project to improve electric-system reliability and resilience.

The company said the project, which will deploy digital technology to optimize the use of distributed energy resources, is expected to lead to greater development and adoption of decarbonized resources, such as solar and energy storage.

The DOE announced the awards on Wednesday. National Grid's proposal, called the Future Grid Project, was chosen from among more than 100 proposals submitted by utilities, industry, academia, and state entities from across the U.S.

The total cost for the Future Grid project is about $140 million. The federal funds will supplement a $90 million investment by National Grid.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

October 19, 2023 14:11 ET (18:11 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
Grafico Azioni National Grid (LSE:NG.)
Storico
Da Mar 2024 a Apr 2024 Clicca qui per i Grafici di National Grid
Grafico Azioni National Grid (LSE:NG.)
Storico
Da Apr 2023 a Apr 2024 Clicca qui per i Grafici di National Grid