National Grid, a major energy company that operates in the U.K., Massachusetts, New York and Rhode Island, is making a $40 million equity investment in Clean Line Energy Partners LLC, a firm that is focused on high voltage direct current (HVDC) transmission projects.
"We strongly support the advancement of tomorrow's network technologies and clean energy resources in the U.S., and our equity investment in Clean Line underscores each of those objectives," says Tom King, president of National Grid USA.
Clean Line says it will use the proceeds from National Grid to "advance the development of its four HVDC transmission projects that will connect onshore wind energy resources in the U.S. to communities and cities with demand for low-cost, clean power."
Clean Line's portfolio of HVDC projects includes the Plains & Eastern Clean Line, Grain Belt Express Clean Line, Rock Island Clean Line and Centennial West Clean Line. These four projects will accommodate up to 14 GW of renewable energy transmission.
