NM receives $6.5M for energy projects
Posted at: 11/25/2009 7:50 AM
By: The Associated Press
ALBUQUERQUE, N.M. (AP) - Energy Secretary Stephen Chu announced Tuesday that New Mexico has been awarded $6.5 million to make its electrical grid run more efficiently.
Sens. Jeff Bingaman and Tom Udall say the Albuquerque-based Ktech Corp. will get $4.7 million and the Public Service Company of New Mexico will receive $1.7 million in grants.
The companies will demonstrate different systems to store energy.
Bingaman says New Mexico's electric grid is outdated and needs to be improved to take advantage of renewable energy.
The money is part of $620 million in funding from the American Recovery and Reinvestment Act that will support 32 projects nationwide.
The funding will be leveraged with private money. The private funding will support more than $15 million in projects in New Mexico.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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