Obama Hands Out $3.4B To Build Smart Grid

Law360, New York (October 27, 2009, 5:31 PM EDT) -- President Barack Obama has announced the award of $3.4 billion in grant money to 100 private companies, utilities, manufacturers, cities and other entities to modernize the U.S. electrical power grid.

The Smart Grid Investment Grant Awards, a component of the $787 billion American Reinvestment and Recovery Act, will be matched by industry funding for a total public-private investment worth over $8 billion, Obama said in a speech at Florida Power & Light Co.’s DeSoto Next Generation Solar Energy Center on Tuesday.

The $2 billion bulk of...
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