Weekly renewables M&A round-up (May 23-27)
May 27, 2022 17:26 CESTto-the-point: Avangrid touts best cost proposal in Massachusetts RfP
Power lines. Author: bigbirdz. License: Creative Commons, Attribution 2.0 Generic
December 7 (Renewables Now) - The 1.2-GW New England Clean Energy Connect (NECEC) by Central Maine Power (CMP) could be built at an up to 60% lower cost than other competing projects, the Avangrid Inc (NYSE:AGR) subsidiary said Wednesday.
According to CMP, the reported costs of competing projects are up to USD 600 million (EUR 509m) above the cost of its proposal, valued at USD 950 million. It also pointed out that NECEC would carry more power than TDI New England’s 1-GW New England Clean Power Link through Vermont and Eversource’s proposed 1.09-GW Northern Pass project in New Hampshire.
NECEC will bring power from Hydro-Quebec in Canada, acting as “battery storage” in New England, CMP said.
Various wind, hydro and transmission capacity projects were submitted in July in response to Massachusetts’ Clean Energy request for proposals (RfP). Details are available at https://macleanenergy.com/83d/83d-bids/. The winners will be announced in 2018.
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