NextEra Energy Transmission submits offshore wind transmission proposals to support New Jersey's clean energy goals

Rhea-AI Summary

NextEra Energy Transmission, a subsidiary of NextEra Energy (NYSE: NEE), has submitted multiple proposals called the New Jersey Seawind Connector to the PJM State Agreement Approach Proposal Window. These proposals aim to help New Jersey meet its energy needs while minimizing environmental impacts. They promise reliable wind energy delivery at significant cost savings for New Jersey's electric customers. With a strong track record in infrastructure projects, NextEra Energy is well-positioned to support the development of a large transmission network.

Positive

• Proposals are cost-effective and designed to meet New Jersey's energy needs.
• Significant savings projected for New Jersey electric customers compared to current plans.
• NextEra Energy has a strong track record in delivering infrastructure projects on time and on budget.
• The company has extensive experience with subsea transmission lines.

Negative

• None.

JUNO BEACH, Fla., Nov. 4, 2021 /PRNewswire/ -- NextEra Energy Transmission Mid-Atlantic Holdings, LLC, a subsidiary of NextEra Energy, Inc. (NYSE: NEE), today announced that it has submitted multiple proposals, collectively called the New Jersey Seawind Connector, into the PJM State Agreement Approach Proposal Window. The proposals are all cost-effective, intended to help New Jersey meet its energy needs, and designed to minimize environmental and marine impacts.

"For more than 20 years, NextEra Energy companies have been supporting New Jersey's energy needs," said Eric Gleason, president of NextEra Energy Transmission. "As the largest generator of renewable energy from the wind and the sun in the world, we support and applaud New Jersey's clean energy goals. We believe no one in the industry can match our experience and unique skillset and we look forward to participating in this project."

The proposals submitted contemplated a variety of different injection locations and designed routes to minimize marine and environmental impacts. The proposals will ensure reliable and cost-effective delivery of wind energy for New Jersey electric customers at significant savings compared to current transmission plans. The proposals include cost containment provisions and schedule incentives which minimize New Jersey customer financial exposure; and reflects NextEra Energy Transmission's confidence in its ability to deliver, given its strong track record of delivering significant infrastructure projects on time and on budget. The New Jersey Board of Public Utilities will be looking at a variety of factors to evaluate the strength of each proposal, and could select one or more proposals to move forward with development and construction in the second half of 2022.

No company is better positioned to support the development, construction and operation of a large transmission network than NextEra Energy Transmission. NextEra Energy companies provide a unique combination of technical, financial and operational capabilities that are unmatched in the industry. NextEra Energy Transmission has been awarded and is developing more competitive transmission projects in North America than any other company. In addition, the company has valuable experience operating subsea transmission lines through its Trans Bay Cable subsidiary. 

NextEra Energy Transmission
NextEra Energy Transmission develops, finances, constructs, and maintains transmission assets across the continent. NextEra Energy Transmission operates through its regional subsidiaries to integrate renewable energy and strengthen the electric grid. The company's subsidiaries were among the first non-incumbents to be awarded projects by system operators and utility commissions in California, New York, Texas, and Ontario. NextEra Energy Transmission's portfolio includes operating assets in 10 states and six regional transmission organizations, numerous projects under development and construction in the United States, and a project under construction in Ontario, Canada. To learn more, visit www.NextEraEnergyTransmission.com.

 

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SOURCE NextEra Energy Transmission, LLC

FAQ

What is the New Jersey Seawind Connector?

The New Jersey Seawind Connector is a series of proposals submitted by NextEra Energy Transmission to help New Jersey meet its energy needs through offshore wind transmission.

When were the proposals for the New Jersey Seawind Connector submitted?

The proposals were submitted on November 4, 2021.

How will the proposals benefit New Jersey electric customers?

The proposals promise reliable delivery of wind energy at significant savings compared to current transmission plans.

What is NextEra Energy's experience related to transmission projects?

NextEra Energy has extensive experience in developing, financing, constructing, and maintaining transmission assets across North America.

What factors will the New Jersey Board of Public Utilities consider in evaluating the proposals?

The Board will evaluate various factors to assess the strength of each proposal, which may impact development and construction decisions.