$425 M for Avangrid’s Maine transmission project
US Department of Energy (DOE) selected Avangrid for a $425 million capacity contract for its Aroostook Renewable Project.
Image for illustration purposes.
USA, Maine: The US Department of Energy (DOE) selected sustainable energy company and member of the Iberdrola Group Avangrid for a $425 million capacity contract for its Aroostook Renewable Project. This is part of the DOE’s Transmission Facilitation Program (TFP).
The announcement comes as the Maine Public Utilities Commission (MPUC) prepares to issue a transmission line Request for Proposals to connect 1.2 GW of renewable energy to the New England power grid in Maine. The generation portion is being solicited by the MPUC separately. Avangrid intends to participate in the transmission line RFP process and will include the capacity contract as part of the company’s proposal.
This funding is one of the largest federal investments in energy development in Maine’s history and will support clean energy transition goals by facilitating transmission line development to unlock renewable energy for the region. Construction of the high-voltage line will relieve transmission constraints that have stalled the development of renewable resources in Northern Maine for years. Avangrid aims to invest over $15 million for Disadvantaged Communities in Maine. Other benefits include job creation, increased property taxes for local communities, rural broadband investments, and a stronger power grid.
Capacity contracts of this nature aim to boost investment and catalyze the nationwide development of transmission lines across the country. The initiative is funded by President Biden’s Bipartisan Infrastructure Law passed in 2021, and the Maine PUC will probably announce winning bids in 2025.
Source: BusinessWire
#Aroostook Renewable Project#Avangrid#Maine#transmission line#USA
