09:50 AM EDT, 10/18/2024 (MT Newswires) -- Pinnacle West Capital's ( PNW ) Arizona Public Service unit said Friday that it been awarded $70 million in US Department of Energy grants to enhance grid resilience and wildfire prevention under the Grid Resilience and Innovation Partnerships program.

The funding includes $50 million to expand APS's wildfire mitigation efforts, Arizona Public Service said.

An additional $20 million will support smart grid improvements to boost reliability and power delivery, particularly in rural areas, the company said.

Price: 86.97, Change: -0.12, Percent Change: -0.14