Project Traits
State: Tennessee
Congressional District: TN09
Organization Type: Commercial
Partner Organization(s) Type: None or Unknown
Energy Sector: Grid & Transmission,
Energy Subsector: Grid Expansion,
Project Start Year: Unknown
Project Launch Year: Unknown
Government Support Received: Federal Tax Credit [Qualifying Advanced Energy Project Credit (48C)] for $11,455,735
Outcomes & Impacts
Private Investment: $51,000,000
Jobs Announced or Created: Unknown
People Served: Unknown
Projected Economic Impact: Unknown
Hyosung HICO plans to invest approximately $51 million, with $38 million qualifying under Section 48C for the construction of an additional building adjacent to the current facility, and enhancements to each production process to boost production capacity and loading rates.
The U.S. Department of Energy (DOE) released applicant self-disclosed information for 22 projects across 17 states that voluntarily shared with DOE that they received a total of nearly $1 billion in allocations from the Qualifying Advanced Energy Project Credit (48C). Nine of the self-disclosed projects indicated they are located in 48C energy communities – communities with closed coal mines or coal plants—showcasing the Biden Administration’s commitment to investing in America’s energy communities.