The Biden administration is set to provide a record $15 billion loan to California-based utility Pacific Gas & Electric Company in an effort to boost the grid and secure more financial support for climate projects before President-elect Donald Trump takes office again. 

The Department of Energy’s Loan Programs Office announced the conditional commitment for a loan guarantee for PG&E on Tuesday, with the funds expected to go toward a variety of projects, including expanding hydropower generation, battery storage, upgrading transmission capacity, and more.