Avangrid Awarded $425M Federal Capacity Contract for Maine Transmission Project
Avangrid (NYSE: AGR) has been awarded a $425 million federal capacity contract for its Aroostook Renewable Project by the U.S. Department of Energy (DOE) through the Transmission Facilitation Program. This contract is one of the largest federal investments in Maine's energy development history. The Maine Public Utilities Commission (MPUC) is also preparing to issue a Request for Proposals (RFP) for a transmission line to connect 1,200 megawatts of renewable energy to the New England power grid. Avangrid plans to participate in this RFP, incorporating the awarded contract into its proposal. The project aims to support clean energy goals by developing a high-voltage line to alleviate transmission constraints in Northern Maine. Additional benefits include job creation, increased property taxes, rural broadband investments, and a stronger power grid. The initiative is funded by President Biden's Bipartisan Infrastructure Law, with winning bids expected to be announced in 2025.
Avangrid (NYSE: AGR) ha ricevuto un contratto federale per la capacità del valore di 425 milioni di dollari per il suo Progetto Rinnovabile Aroostook dal Dipartimento dell'Energia degli Stati Uniti (DOE) attraverso il Programma di Facilitazione della Trasmissione. Questo contratto rappresenta uno dei più grandi investimenti federali nella storia dello sviluppo energetico del Maine. La Commissione Pubblica Utilità del Maine (MPUC) sta inoltre preparando un Invito a Presentare Proposte (RFP) per una linea di trasmissione che collegherà 1.200 megawatt di energia rinnovabile alla rete elettrica del New England. Avangrid prevede di partecipare a questo RFP, integrando il contratto ricevuto nella sua proposta. Il progetto mira a sostenere gli obiettivi di energia pulita sviluppando una linea ad alta tensione per alleviare i vincoli di trasmissione nel nord del Maine. I benefici aggiuntivi includono la creazione di posti di lavoro, un aumento delle tasse immobiliari, investimenti in broadband rurale e una rete elettrica più forte. L'iniziativa è finanziata dalla Legge Bipartisan sulle Infrastrutture del Presidente Biden, con l'annuncio delle offerte vincenti previsto per il 2025.
Avangrid (NYSE: AGR) ha sido otorgado un contrato federal de capacidad por 425 millones de dólares para su Proyecto de Energía Renovable Aroostook por parte del Departamento de Energía de los Estados Unidos (DOE) a través del Programa de Facilitación de Transmisión. Este contrato es una de las inversiones federales más grandes en la historia del desarrollo energético de Maine. La Comisión de Servicios Públicos de Maine (MPUC) también se está preparando para emitir una Solicitud de Propuestas (RFP) para una línea de transmisión que conectará 1,200 megavatios de energía renovable a la red eléctrica de Nueva Inglaterra. Avangrid planea participar en esta RFP, incorporando el contrato otorgado en su propuesta. El proyecto tiene como objetivo apoyar las metas de energía limpia desarrollando una línea de alta tensión para aliviar las limitaciones de transmisión en el norte de Maine. Los beneficios adicionales incluyen la creación de empleos, un aumento en los impuestos sobre la propiedad, inversiones en banda ancha rural y una red eléctrica más fuerte. La iniciativa está financiada por la Ley Bipartidista de Infraestructura del Presidente Biden, con la expectativa de que las ofertas ganadoras sean anunciadas en 2025.
아방그리드 (NYSE: AGR)는 미국 에너지부(DOE)로부터 4억 2500만 달러 규모의 연방 용량 계약을 아로우스툭 재생 가능 프로젝트에 대해 수상했습니다. 이 계약은 메인주의 에너지 개발 역사상 가장 큰 연방 투자 중 하나입니다. 메인주 공공 유틸리티 위원회(MPUC) 또한 1,200메가와트의 재생 가능 에너지를 뉴잉글랜드 전력망에 연결하는 송전선에 대한 제안 요청(RFP)을 발행할 준비를 하고 있습니다. 아방그리드는 이 RFP에 참여할 계획이며, 수여된 계약을 제안서에 포함시킬 것입니다. 이 프로젝트는 메인 북부의 송전 제약을 완화하기 위해 고전압 라인을 개발하여 청정 에너지 목표를 지원하는 것을 목표로 하고 있습니다. 추가 혜택으로는 일자리 창출, 재산세 증가, 농촌 브로드밴드 투자 및 더 강력한 전력망이 포함됩니다. 이 이니셔티브는 바이든 대통령의 초당적 인프라 법률에 의해 자금을 지원받으며, 수상 제안은 2025년에 발표될 예정입니다.
Avangrid (NYSE: AGR) a été attribué un contrat fédéral de capacité d'une valeur de 425 millions de dollars pour son Projet Renouvelable Aroostook par le Département de l'Énergie des États-Unis (DOE) dans le cadre du Programme de Facilitation de la Transmission. Ce contrat représente l'un des plus grands investissements fédéraux dans l'histoire du développement énergétique du Maine. La Commission des Services Publics du Maine (MPUC) se prépare également à émettre une Demande de Propositions (RFP) pour une ligne de transmission afin de connecter 1 200 mégawatts d'énergie renouvelable au réseau électrique de la Nouvelle-Angleterre. Avangrid prévoit de participer à cette RFP, en intégrant le contrat attribué dans sa proposition. Le projet vise à soutenir les objectifs d'énergie propre en développant une ligne haute tension pour atténuer les contraintes de transmission dans le nord du Maine. Les bénéfices supplémentaires comprennent la création d'emplois, une augmentation des impôts fonciers, des investissements dans le haut débit rural et un réseau électrique renforcé. L'initiative est financée par la Loi Bipartisane sur les Infrastructures du Président Biden, avec des offres gagnantes qui devraient être annoncées en 2025.
Avangrid (NYSE: AGR) hat einen Bundesvertrag über eine Kapazität im Wert von 425 Millionen Dollar für sein Aroostook-Erneuerbare-Energien-Projekt vom US-Energieministerium (DOE) durch das Übertragungsförderungsprogramm erhalten. Dieser Vertrag stellt eine der größten Bundesinvestitionen in die Energieentwicklung in der Geschichte von Maine dar. Die Maine Public Utilities Commission (MPUC) bereitet ebenfalls die Ausschreibung einer Anfrage zur Einreichung von Angeboten (RFP) für eine Übertragungsleitung vor, die 1.200 Megawatt erneuerbare Energie mit dem Stromnetz von Neuengland verbinden soll. Avangrid plant, an dieser Ausschreibung teilzunehmen und den erhaltenen Vertrag in sein Angebot einzuarbeiten. Das Projekt zielt darauf ab, die Ziele der sauberen Energie zu unterstützen, indem eine Hochspannungsleitung entwickelt wird, um Übertragungsengpässe im Norden von Maine zu lindern. Weitere Vorteile sind die Schaffung von Arbeitsplätzen, erhöhte Grundsteuern, Investitionen in ländliche Breitbandtechnik und ein stärkeres Stromnetz. Die Initiative wird durch das Bipartisan Infrastructure Law des Präsidenten Biden finanziert, wobei die erfolgreichen Angebote voraussichtlich 2025 bekannt gegeben werden.
- $425 million federal capacity contract awarded
- One of the largest federal investments in Maine’s energy development history
- Supports clean energy transition goals
- Job creation and increased property taxes
- Rural broadband investments
- Stronger power grid
- None.
Insights
The
Key implications include:
- Potential to unlock substantial renewable energy resources, supporting clean energy transition goals
- Job creation and economic stimulation in the region
- Increased property tax revenues for local communities
- Planned
$15 million investment in Disadvantaged Communities - Improvements to rural broadband infrastructure
The project's selection under the Transmission Facilitation Program signals strong federal support for expanding transmission capacity, which is important for integrating more renewable energy into the grid. However, Avangrid still needs to secure the Maine Public Utilities Commission's approval through the upcoming RFP process, introducing some uncertainty to the project's final implementation.
This federal award represents a significant shift in energy policy implementation, leveraging the Bipartisan Infrastructure Law to accelerate transmission development. The
- It's one of the largest federal energy investments in Maine's history, showcasing the government's commitment to regional clean energy development
- The project aligns with broader goals to modernize the nation's transmission system, important for integrating variable renewable energy sources
- It addresses the "chicken-and-egg" problem often faced in renewable energy development, where transmission constraints hinder generation projects
The success of this project could serve as a model for similar initiatives nationwide, potentially accelerating the clean energy transition. However, the project's ultimate impact will depend on the successful completion of the Maine PUC's RFP process and the timely development of associated renewable generation capacity.
Capacity contract granted through the Transmission Facilitation Program by the
Award represents one of the largest federal investments in energy development in Maine’s history
The announcement by DOE comes as the Maine Public Utilities Commission (MPUC) prepares to issue a transmission line Request for Proposals to connect 1,200 megawatts of renewable energy to the New England power grid in
This
“Transmission line development, and the ability to connect clean, affordable energy to the New England power grid is one of the most effective tools available to combat climate change while also enabling a stronger, 21st century economy,” said Pedro Azagra, Avangrid CEO. “We are grateful for the leadership of President Biden and Secretary Granholm as we continue to work to modernize the nation’s transmission system in
Capacity contracts of this nature are meant to boost investment and catalyze the nationwide development of transmission lines across the country. The initiative is funded by President Joe Biden’s Bipartisan Infrastructure Law, passed in 2021.
The Maine PUC will likely announce winning bids in 2025.
About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in
View source version on businesswire.com: https://www.businesswire.com/news/home/20241003714185/en/
Media:
Jon Breed
jonathan.breed@avangrid.com
(207) 458-3510
Source: AVANGRID, Inc.
FAQ
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