(ADPnews) - Sep 30, 2010 - Iberdrola USA, a unit of Spanish utility Iberdrola (MCE:IBE), said on Tuesday it and utility company Central Maine Power Co (CMP) jointly launched two energy infrastructure projects totalling USD 1.5 billion (EUR 1.1bn) in the US state of Maine.
The first project, Maine Power Reliability Programme (MPRP), envisages upgrading of the state's electricity transmission grid for USD 1.4 billion. It includes the establishment of five 345-kV substations and related facilities connected by 450 miles (724.2 km) of transmission lines. The project is scheduled for completion in 2015 and meanwhile to open up to 2,000 jobs. It is expected to support the development of renewable energy sources.
The other project includes the installation of 620,000 advanced electricity meters for CMP customers under a new smart grid programme to be launched over the next two years. The project costs USD 166 million, part of which is backed by the US Department of Energy. The project is designed to give customers real-time information on the usage of electricity and enable suppliers to offer customers new options for variable pricing, while resulting in reduced costs and improved system planning for the company.
(USD 1.0 = EUR 0.736)
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