OAKLAND, Calif. -- (Business Wire)

Pacific Gas and Electric Company (PG&E) today announced a donation of $1 million in college scholarships over the next five years, in conjunction with the launch of the city’s Oakland Promise education initiative.

“Oakland Promise represents another great example of how we all can come together to build a better Oakland through public and private sector resources. PG&E stands 100 percent behind the effort to create career pathways for young people in the communities we serve,” said PG&E Corporation Chairman, CEO and President Tony Earley, who attended an Oakland Promise lunch event today to announce the donation.

“This is the single most transformative thing we can do for Oakland and its young people and we are fortunate to have committed partners like PG&E making such a significant early investment in this effort. In a district where 71 percent of students are low‐income, ensuring that more of our kids earn a college degree has the potential to interrupt generational poverty. Today, we’re raising the bar for this entire community by setting out an expectation for our children’s futures and giving them the tools and the support to exceed those expectations,” said Oakland Mayor Libby Schaaf.

The scholarships will be awarded annually to well-performing high school students who seek to go to college at any level. PG&E’s donation supports Oakland youth by investing in the educational opportunities and training needed to find quality jobs. The scholarships will be managed by the East Bay College Fund.

“We thank PG&E for taking the lead in demonstrating what a company can do to change students’ lives. PG&E’s contribution to the Oakland Promise will have a great impact on the future of Oakland,” said East Bay College Fund Executive Director Diane Dodge.

PG&E has a long history of investing in Oakland’s economic success:

• For more than 10 years, PG&E has partnered with the Cypress Mandela Training Center, resulting in dozens of PG&E hires in construction trades.
• PG&E supported the “Greening of Oakland” initiative from 2007-2010, which included efforts help local businesses become more energy efficient.
• Last year, PG&E awarded an Oakland Technical High School graduate a full college scholarship.
• Also last year, the utility brought solar suitcases to Oakland classrooms, and will be sending two Oakland students to Kenya next month to hand-deliver the sustainable energy kits.

About PG&E

Pacific Gas and Electric Company (PG&E), a subsidiary of PG&E Corporation (NYSE:PCG), and the PG&E Corporation Foundation strive to power strong communities throughout Northern and Central California. In 2015, PG&E contributed $25 million to more than 1,600 charitable organizations, including matching the generosity of employees and retirees who donated $7.9 million and volunteered approximately 87,000 hours to company-supported events. Community investments are funded entirely by the company’s shareholders. For more information, visit www.pge.com/community.

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View source version on businesswire.com: http://www.businesswire.com/news/home/20160128006294/en/

Contacts:

PG&E
Tamar Sarkissian, 415-973-5930

Source: Pacific Gas and Electric Company