The Tennessee Valley Authority (TVA), based in Knoxville, announced it will partner with local power companies by providing $2 million in matching funds to support local initiatives that address hardships created by COVID-19 (coronavirus).
The initiative is part of a portfolio of assistance programs that TVA is providing to support communities and customers.
The COVID-19 Community Care Fund aims to amplify vital work being done by nonprofit organizations to support those affected by the pandemic.
Local power companies will have the opportunity to identify organizations that are seeking to funds for existing or new community initiatives and TVA will match them. The funds intend to help sustain and improve quality of life in the Valley and support economic recovery.
“In the spirit of public power, we are honored to partner with local power companies to address the unprecedented challenges facing those we serve,” said Jeannette Mills, TVA executive vice president and chief external relations officer. “TVA has a mission of service to make life better for the people of the Valley, and providing these funds to address immediate needs is one way we can help ease the burdens on families and communities.”
The fund is part of a broader effort by TVA and local power companies to support communities with resources, programs and reinforce the strength of public power.
In its role as regulator for local power companies, TVA is providing the companies with flexibility to meet immediate customer needs. The company also announced a credit support program in late March to provide financial stability and assist said companies and customers.
TVA is working to identify additional potential funding from federal, state and local government stimulus programs during COVID-19 as well.