Transmission Developers plans to develop a power transmission line that will bring affordable and renewable power to New York and New England from the US-Canadian border.
The transmission power line, called the Champlain-Hudson Power Express, will be a high voltage direct current cable designed to principally run under waterways to minimise the impact to local communities and the environment.
The CHPE project has an active application pending in phase II of the US Department of Energy’s Loan Guarantee Programme for transmission projects. This federal programme supports necessary transmission projects and helps spur private sector investment in such projects.
The Blackstone Group is Transmission Developers’ lead financial partner.
The project will deliver renewable power to meet growing energy demand, increase electric grid security and reduce consumer energy costs.
Donald Jessome, president and chief executive of Transmission Developers, says: “One of the biggest challenges we face in the development of new renewable energy sources is safely and efficiently transporting that power from areas where it is created to markets where the power is most needed. This innovative project offers real opportunity to deliver low cost power to areas in need with minimal disruption to local communities and environments.”
The project will help New York and New England meet federal and state renewable energy goals and will help New York State achieve an enhanced renewable portfolio standard by bringing additional sources of clean, renewable energy into the state.
Transmission Developers is working with Nalcor Energy to assess the feasibility of delivering hydroelectric and wind power to key markets using this transmission line.
