U.S. INVESTS IN CLEAN ENERGY, DOMESTIC BIOFUELS The U.S. Department of Agriculture (USDA) will fund more than 700 clean energy projects to lower energy bills, expand access to domestic biofuels, and create jobs and new market opportunities for U.S. farmers, ranchers, and agricultural producers. President Biden’s Inflation Reduction Act funds many of these projects. In all, USDA is providing $238 million in funding through the Rural Energy for America Program (REAP) and the Higher Blends Infrastructure Incentive Program (HBIIP). The REAP program helps agricultural producers and rural small business owners expand their use of wind, solar, geothermal, and small hydropower energy and make energy efficiency improvements. USDA has invested more than $2 billion through REAP to support renewable energy and energy efficiency improvements that will help rural business owners lower energy costs, generate new income, and strengthen their resiliency of operations. HBIIP provides grants to fueling station and distribution facility owners, including marine, rail, and home heating oil facilities, to help expand access to domestic biofuels, a clean and affordable source of energy. These investments help business owners install and upgrade infrastructure such as fuel pumps, dispensers, and storage tanks. USDA has invested approximately $135 million to increase access to biofuels at fueling stations. In June 2023, USDA made $450 million available in Inflation Reduction Act funding through the HBIIP to expand the use and availability of higher-blend biofuels.
A shuttered nuclear power plant in Southwest Michigan will resume operations in 2025 after federal energy officials offered more than $1.5 billion in financing for the project. The Palisades Nuclear Plant, an 800-megawatt generating station located along the coast of Lake Michigan, halted operations nearly two years ago after more than five decades. The plant was reportedly set to be dismantled entirely, but under a proposed loan offer from the Department of Energy’s Loan Programs Office, Holtec Palisades would restore the complex and return it to service by late 2025. If approved by federal nuclear regulators, the revamped plant would be able to produce power until at least 2051. D O E TO RESTORE NUCLEAR PLANT "The recent attacks by Iran on Israel highlight the fragile nature of international trade, particularly within a region that plays a critical role in the provisioning of the world's oil. Companies must bolster their risk management strategies, incorporating comprehensive contingency plans that ensure flexibility and adaptability in the face of geopolitical instabilities. By fostering robustness in their supply chains, businesses can better navigate the complexities of today's global market dynamics, maintaining operational continuity even as geopolitical tensions pose ongoing challenges.” —Vitaliano Tobruk, Supplier Risk Management–Industry Practice Lead, Moody’s
DHL Group is expanding its charging infrastructure for electric trucks, thanks to a partnership with energy provider E.ON. The contract calls for E.ON to establish fast- charging infrastructure at DHL Group distribution centers. DHL service partners will also have access to the new charging infrastructure.
June 2024 • Inbound Logistics 15
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