Georgia Power awarded $160 million from Department of Energy to enhance Georgia's power grid

Rhea-AI Summary

Georgia Power, serving 2.7 million customers, has been awarded $160 million in funding by the Department of Energy's Grid Deployment Office. The funding, part of the Grid Resilience and Innovation Partnerships (GRIP) Program, aims to enhance grid flexibility, improve power system resilience, and ensure affordable, reliable electricity access.

Projects will include deploying new grid-enhancing technologies such as dynamic line rating and reconductoring of high voltage power lines. These investments are important for serving existing and new customers, connecting clean generation, and increasing energy resilience. Georgia Power plans to share insights and best practices with the broader industry through collaborations with organizations like EEI and EPRI.

The company will work with community organizations and stakeholders, including IBEW union crews, to provide training on new transmission conductor installation. The project is expected to bring community benefits such as decreased environmental impacts, increased clean enterprise contracting, and job creation.

Positive

• Awarded $160 million in funding from the Department of Energy
• Investments aimed at enhancing grid flexibility and improving power system resilience
• Deployment of new grid-enhancing technologies to maximize power transmission capacity
• Potential for increased renewable generation deployment
• Collaboration with industry organizations to share insights and best practices
• Expected community benefits including job creation and increased clean enterprise contracting

Negative

• None.

News Market Reaction – SO

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Funding focused on innovative approaches to expanding transmission capacity and adding resiliency as company works to meet the energy needs of a growing Georgia

ATLANTA, Oct. 21, 2024 /PRNewswire/ -- Georgia Power, the state's largest electric utility serving 2.7 million customers, has been awarded more than $160 million in funding by the Department of Energy (DOE) through its Grid Deployment Office. As Georgia continues to grow, the company is ensuring that customers have access to clean, safe, reliable, and affordable power, and actively pursued the funding available under the Grid Resilience and Innovation Partnerships (GRIP) Program established by the Bipartisan Infrastructure Law to help reduce the costs of necessary investments for the benefit of customers.

Investments under the GRIP Program are intended to enhance grid flexibility, improve the resilience of the power system against extreme weather and ensure American communities have access to affordable, reliable electricity when and where they need it.

"We know our customers depend on us to make the investments needed in the state's power grid to ensure that we provide the energy resilience and reliability they value and expect, while keeping energy prices affordable," said Fran Forehand, senior vice president of Transmission for Georgia Power. "Leveraging federal funding and working with the DOE to integrate innovative technology is a great example of how we do this. Thanks to the robust and long-term planning process we have in place with the Georgia Public Service Commission (PSC), the investments we're making in a smarter and more resilient power grid are showing value for our customers during extreme weather events such as Hurricane Helene, and every day."

Projects funded by the grant will be varied and will benefit communities across Georgia. As Georgia Power continues to transition to cleaner forms of energy and transform its electric grid, investments in the state's transmission system – the high voltage power lines that transport electricity from generation sources to individual communities – are critical.

Through funding from the GRIP program, Georgia Power will deploy new grid-enhancing technologies including dynamic line rating technology and reconductoring of high voltage power lines. Improved conductor technology can be deployed on existing structures, placed in service much faster than a traditional line build, and can help maximize the amount of power that can be carried through existing transmission lines and in existing rights of way. These investments are important to not only serve existing and new customers but also to help connect a growing amount of clean generation required to serve Georgia's growing electricity needs. For example, Georgia is a Top 10 state for solar growth and, as renewable generation continues to come online, these investments will unlock additional opportunities for renewable generation deployment within critical locations and disadvantaged communities. The investments also increase energy resilience, including reducing outage frequency and duration.

Increasing collaboration, community and stakeholder engagement, and industry improvement are also key elements of projects under the GRIP Program. As the company invests in its system, Georgia Power plans to share insights, lessons learned and best practices with the broader industry through its work with the Edison Electric Institute (EEI), the Electric Power Research Institute (EPRI), the Association of Edison Illuminating Companies and others.

Many community organizations assisted the company in its application such as the International Brotherhood of Electrical Workers (IBEW), the Georgia Minority Supplier Development Council, Fort Valley State University, the Savannah Economic Development Authority and the Savannah Area Chamber of Commerce, among others. Georgia Power is grateful for the support of these organizations during the application process and will continue to solicit input and expertise of these organizations and other stakeholders throughout the state. For example, through the project, Georgia Power will work with IBEW union crews to provide training on the installation and configuration of new types of transmission conductors being installed. The use of these new technologies is expected to provide community benefits such as decreased environmental impacts, increased clean enterprise contracting for businesses majority owned or controlled by underrepresented persons or groups, increased high-quality job creation and job training.

Click here to access the full Georgia Power GRIP fact sheet.

Over the past 10 years, Georgia Power has invested more than $10 billion in strengthening the power grid through programs and initiatives approved by the Georgia PSC. Georgia Power continued this ongoing work on projects throughout Georgia communities in 2023 resulting in a strong year for reliability performance. Read more here.

About Georgia Power

Georgia Power is the largest electric subsidiary of Southern Company (NYSE: SO), America's premier energy company. Value, Reliability, Customer Service and Stewardship are the cornerstones of the company's promise to 2.7 million customers in all but four of Georgia's 159 counties. Committed to delivering clean, safe, reliable and affordable energy, Georgia Power maintains a diverse, innovative generation mix that includes nuclear, coal and natural gas, as well as renewables such as solar, hydroelectric and wind. Georgia Power focuses on delivering world-class service to its customers every day and the company is recognized by J.D. Power as an industry leader in customer satisfaction. For more information, visit www.GeorgiaPower.com and connect with the company on Facebook (Facebook.com/GeorgiaPower), X (X.com/GeorgiaPower) and Instagram (Instagram.com/ga_power).

 

 

 

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SOURCE Georgia Power

FAQ

How much funding did Georgia Power (SO) receive from the Department of Energy?

Georgia Power was awarded $160 million in funding from the Department of Energy's Grid Deployment Office through the Grid Resilience and Innovation Partnerships (GRIP) Program.

What technologies will Georgia Power (SO) deploy with the GRIP funding?

Georgia Power will deploy new grid-enhancing technologies including dynamic line rating technology and reconductoring of high voltage power lines to maximize power transmission capacity.

How will the GRIP funding benefit Georgia Power (SO) customers?

The funding will help enhance grid flexibility, improve power system resilience against extreme weather, and ensure customers have access to affordable, reliable electricity while reducing the costs of necessary investments.

What community benefits are expected from Georgia Power's (SO) GRIP-funded projects?

The projects are expected to provide community benefits such as decreased environmental impacts, increased clean enterprise contracting for underrepresented groups, increased high-quality job creation, and job training opportunities.