Iberdrola to invest 3,663 million to modernise New York’s grids


New York will invest more than $35 billion in clean energy in 120 large-scale renewable and transmission projects with the aim of lowering customers’ bills.

In this context, Iberdrola has already received the go-ahead from the state’s Public Utilities Commission to launch a two-phase project that will involve spending $3,663 million (€3,315 million) to reinforce power lines in the area and accommodate – in the electricity area alone – nearly 4,252 MW of new clean energy.

In the first phase of the project, Avangrid has 13 investments that the company has budgeted at 1,413 million dollars (1,278 million euros) in the Lockport, Lancaster, Ithaca, Oneonta and Binghamton areas. According to the company’s estimates, these upgrades, which will be commissioned from 2026 to 2030, will allow for the integration of 2,252 MW of renewables into the New York electricity system in the first phase. Phase 2 will consist of adding a total of 62 transmission grid upgrades to support new renewable generation sources.

The New York Public Service Commission has authorised a total investment of $4.4 billion to integrate an additional 3,500 MW of renewables, providing access to energy equivalent to the consumption of 2.8 million homes.
The measure will allow the company, among other things, to install 1.9 million digital meters, in addition to other actions in the company’s substation network. The Accelerated Renewable Growth and Community Benefit Act requires 70% of New York State’s electricity to come from renewable energy sources by 2030 and emission-free energy by 2040. Along with other goals, the CLCPA targets the construction of 9 GW of offshore wind capacity.

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