By Stephen Nakrosis

Xcel Energy said Wednesday it was selected to receive a $100 million award from the Department of Energy to reduce and mitigate wildfire threats and ensure the resiliency of the grid in extreme weather.

The funding will be matched by a $140 million cost share provided by Xcel Energy.

The funds will be used for projects to enhance grid resiliency in the face of fires, severe storms and other environmental conditions, Xcel said. Adding fire-resistant coatings to wood poles, improving equipment safety features in power lines and electric vehicle chargers in high fire risk conditions, and enhancing vegetation management are some areas the projects will cover.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

October 18, 2023 16:57 ET (20:57 GMT)

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