Avangrid Pilots New Technology to Increase Grid Capacity in New York to Accelerate Renewable Energy Adoption - Seite 2

Funding for the project was awarded to Avangrid and LineVision through round two of NYSERDA’s Future Grid Challenge program. The program addresses a recommendation contained in a Department of Public Service order released in January 2022 for the deployment of advanced transmission and distribution technologies for improved transmission utilization while supporting New York’s CLCPA goal to achieve 70% renewable electricity by 2030.

Pedro Azagra, CEO of Avangrid said, “Decarbonizing our region and nation will require critical investments in transmission and distribution infrastructure. This pilot project is just one example of how we’re working to modernize the grid and enhance reliability and resiliency across our service areas for our customers. We’re proud to be making strategic and critical investments that will enable New York’s climate goals, help mitigate the impacts of climate change and increase access to renewable energy.”

Hudson Gilmer, CEO and co-founder of LineVision said, “We are thrilled to have been chosen to take part in this important project. By multiple accounts, we must double the size of the power grid to have any hope of meeting critical climate goals. Our technology has helped our utility customers identify between 25-40% additional capacity on existing lines which helps accelerate a transition to renewables. We are excited to work with Avangrid and NYSERDA to help optimize New York’s grid.”

Patricia Nilsen, president and CEO of NYSEG and RG&E said, “We have been an anchor institution in our communities for more than a century. We know that we have a critical role in building a smarter, more resilient network that will enable us to deliver clean energy to more customers. Investments in innovation like this are very exciting because it will benefit our customers in multiple ways.”

The CLCPA calls for an additional 10,000 MW of solar capacity and 9,000 MW of offshore wind capacity. These aggressive goals, as well as the goals set forth by the recently passed Inflation Reduction Act, would likely cause significant congestion on transmission lines. To ensure reliability of the system, reduce cost of congestion, and allow faster integration of renewables, implementation of DLR solution could play a vital role.

About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $41 billion in assets and operations in 24 U.S. states, Avangrid has two primary lines of business: networks and renewables. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, Avangrid owns and operates a portfolio of renewable energy generation facilities across the United States. Avangrid employs more than 7,500 people and has been recognized by JUST Capital in 2021, 2022 and 2023 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2023, Avangrid ranked first within the utility sector for its commitment to the environment. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2023 for the fifth consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.