Trump Announces $700 Million Federal Investment in Coal Plants and Export Terminal
The funding covers upgrades at 13 existing plants, two new facilities, and a terminal in Oakland. Officials said the package will support jobs and grid reliability.
upi.comPresident Trump announced a $700 million federal investment in coal power plants and a new export terminal during remarks from the Oval Office on Thursday. The funding includes $75 million for a new coal export terminal in Oakland, California, $425 million to support 13 existing coal plants across ten states, and $200 million in Department of Energy grants to build two new coal plants in Alaska and West Virginia and to restart a coal plant in Maryland.
The two new plants will be the first built in the United States since 2013.
Trump invoked the Defense Production Act to distribute the funds. He said the action will allow facilities to invest in upgrades that will extend their operational lives for decades into the future, reinforce the reliability of the electric grid, and keep electricity prices very low for the American people.
Trump was joined by Interior Secretary Doug Burgum, Energy Secretary Chris Wright and Environmental Protection Agency Administrator Lee Zeldin.
A White House official said the initiative will create thousands of jobs for miners, railroad workers, engineers and construction workers and save consumers $50 billion in energy generation costs. Trump said his administration has approved 76 new permits for clean beautiful coal since he took office last year.
" The Trump administration has directed fossil-fueled power plants in Michigan, Indiana, Colorado and Washington state to continue operating past their retirement dates.
Since returning as president for a second time in 2025, the administration has moved to expedite oil and mining projects and open new drilling sites. Coal provided 15% of energy production in 2024, down from 45% in 2010. Fossil fuel generation dipped by less than 1% during the same period, according to Ember, which analyzed data from 88 countries.
The new investment in the coal industry was first reported by Bloomberg.
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