Chesterfield, MO /PRNewswire/ - Today, the Maine Public Utilities Commission ("Commission") selected LS Power Grid Maine, LLC to build a new transmission solution that will deliver renewable energy from Aroostook County, Maine into the existing New England grid. The Commission's selection is a major step toward ensuring Maine meets its ambitious clean energy and climate goals in a cost-conscious manner while realizing economic benefits for the state.
"LS Power is honored that the state of Maine has placed its trust in us to deliver this critical infrastructure, which will deliver clean energy, while also improving the reliability and resilience of the electric grid," said Paul Thessen, president of LS Power. "We are encouraged that the Commission recognized the value of our proposal and excited to deliver these benefits to Maine."
LS Power's plan calls for building over 100 miles of new 345 kV transmission lines and multiple substations to deliver new wind generation from Aroostook County, Maine. These projects will provide significant benefits to Maine and the region, including jobs, tax revenues, and environmental benefits. The location of the new facilities will be determined through an open and transparent siting process.
The Commission conducted a competitive process in accordance with The Northern Maine Renewable Energy Development Program which established certain parameters and criteria for consideration, including the technical and financial viability of proposed projects; use of existing rights-of-way and transmission corridors; and benefits to Maine ratepayers. LS Power's proposal was selected by the Commission as the transmission solution that best met these parameters including being the most cost effective option.
"We look forward to implementing this industry-leading grid infrastructure in close collaboration with the Commission, local communities, and other stakeholders," said Thessen. "We are excited to be part of building Maine's clean energy future."
About LS Power
LS Power is a development, investment and operating company focused on the North American power and energy infrastructure sector. Since its inception in 1990, in addition to its development of more than 660 miles of high voltage transmission, LS Power has developed, constructed, managed or acquired in total more than 46,000 MW of power generation, including utility-scale solar, wind, hydro, natural gas-fired and battery energy storage projects. LS Power actively invests in distributed energy resource platforms, such as CPower Energy Management, Endurant Energy and EVgo, as well as Waste-to-Renewable Generation and Fuel initiatives. Additionally, LS Power invests in renewables and energy storage through REV Renewables. Across its efforts, LS Power has raised in excess of $49 billion in debt and equity financing to support North American infrastructure. For more information, For more information, visit www.LSPower.com and www.LSPowerGrid.com.