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Monday, December 16, 2024

Project Tundra receives initial funds from $350 million DOE award

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Senator John Hoeven, U.S. Senator of North Dakota | Senator John Hoeven Official website

Senator John Hoeven, U.S. Senator of North Dakota | Senator John Hoeven Official website

Senator John Hoeven announced that Project Tundra, a carbon capture, utilization, and storage (CCUS) initiative led by Minnkota Power Cooperative, has received an initial $4.2 million from the U.S. Department of Energy (DOE). This funding is part of a larger $350 million award secured for the project last year.

Hoeven has been actively involved in supporting this initiative by funding DOE’s Carbon Capture Demonstration Projects Program and leading the North Dakota delegation in presenting the project's benefits to DOE. He previously secured $43 million in federal funding for Project Tundra, along with loan guarantees and the 45Q tax credit necessary to make CCUS projects commercially viable.

“Every day, our nation relies on affordable baseload power that is available 24/7, regardless of weather. Project Tundra is about implementing new technologies to ensure a future for critical baseload power sources like coal,” said Hoeven. “We’ve worked to put the tools in place to move this and other CCUS efforts forward on a commercially-viable basis. Today’s award, which is the first distribution from the $350 million of funding we secured last year, is an important milestone as Project Tundra progresses through its final stage of development.”

The initial award is part of Hoeven’s broader efforts to advance Project Tundra as a means to support North Dakota's coal-fired electric industry and maintain the affordability and reliability of the electric grid. Last year, Minnkota announced that Project Tundra had entered its final stage of development with new affiliates such as TC Energy, Mitsubishi Heavy Industries, and Kiewit joining to build the project.

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