PG&E offered $15 billion loan from the Biden administration for climate projects, power grid

The record loan would also be used toward increasing the deployment of energy storage, with PG&E currently logging 4.2 gigawatts of battery storage under contract.

The U.S. Department of Energy said on Tuesday it had offered a conditional loan of up to $15 billion to California-based electric utility PG&E to support climate resilience projects and strengthen the power grid.