U.S. Energy Secretary Jennifer Granholm visited Raleigh on Friday to announce $18.3 million in funding to support Siemens Energy as the company plans to produce equipment needed to integrate more renewable energy into the grid. The funding is available through new tax credits from the Inflation Reduction Act that focus on clean energy projects.
“Through the historic Advanced Energy Project Credit, we are leveraging the infrastructure, expertise, and grit of America’s energy communities — where the workers that powered our energy past, will power our energy future," said Granholm in a statement.
Siemens Energy, an energy technology company based in Germany, has a strong presence in Charlotte. In February, the company announced plans to expand its operations and build a manufacturing facility in Mecklenburg County. The project is estimated to cost $150 million total.
The facility, set to open in 2026, will produce large power transformers, which is equipment needed to integrate more renewable energy into the existing grid.
"This factory will help lead in the modernization and expansion of our electrical grid so it can handle the influx of renewables coming online," said Rich Voorberg, President of Siemens Energy in North America. "Support from the state and the federal government is fostering an atmosphere where it is advantageous to invest in America and strengthen the U.S. domestic clean energy manufacturing supply chain.”
The funding for Siemens Energy is part of a larger announcement from the U.S. Department of Energy, which outlines details for 35 projects across 20 states that are receiving a total of $1.93 billion.
Clarification: A previous version of this story incorrectly identified the company name of Siemens Energy.
