Last week the Department of Energy issued its draft guidelines for Section 247 of the Infrastructure Investment and Jobs Act of 2021. Under this program, DOE will distribute $553 million dollars for eligible dam safety, grid resiliency, and environmental improvements at FERC-regulated hydroelectric projects. DOE incentive payments will cover up to 30 percent of the cost of such improvements up to $5 million per project. DOE also issued a public notice of its intent to publish final guidance and open the application period for the Section 247 grant program in the second quarter of this year. Comments on the draft guidelines are due February 28. 

Should you have questions regarding either of the DOE announcements and would like more information on whether your company may be eligible for funds, please contact Jenna Mandell-Rice at jrm@vnf.com.