Avangrid Inc. has announced five projects with a total investment of $41 million to install additional capacity and improve the reliability of the power grid in Ithaca, New York.
The projects are part of a $20 billion investment through 2030 that Avangrid, part of Spain’s power and gas utility Iberdrola SA, announced earlier this year to contribute to United States grid modernization and expansion.
Avangrid expects the Ithaca projects to benefit over 42,000 customers of New York State Electric & Gas, an Avangrid unit that operates about 35,000 miles of electric distribution lines and 4,500 miles of electric transmission lines across over 40 percent of upstate New York.
“Phase I of Ithaca’s investment will focus on current reliability needs in the region and is on schedule to be completed by the end of 2027”, Avangrid said in an online statement.
The bulk of phase 1 investments will go to the purchase of two new transformers for the South Street substation, costing $28.4 million. Transformers at the Coddington station would also be upgraded for $300,000.
Transformers step down the voltage to transmission, sub-transmission and distribution voltages to ensure the safe and cost-effective supply of electricity, Avangrid said.
In the three other projects, the West Hill, Trumansburg and Cayuga Heights substations will each have a capacity bank for $4.9 million, $4.2 million and $3.3 million respectively.
“Capacitors banks help ensure consistent energy into the grid, helping improve the reliability for customers in the area”, Avangrid said. “They do this by stabilizing and maintaining voltage levels, which improves overall efficiency and performance of the power grid”.
“Increased capacity will encourage growth in the region and provide more energy to power additional homes and new and growing businesses. In total, these projects will create more than 150 jobs”, it said.
“This major investment in Ithaca’s grid infrastructure builds on Avangrid’s effort to modernize New York’s electrical and gas infrastructure totaling over $500 million for 265 projects since the 2023 Reliable Energy Rate Plan”, the company said.
On March 12 Avangrid announced plans to invest $20 billion in the U.S. power grid infrastructure until the end of the decade.
That would be spent on grid modernization and expansion. “The investment plan could also include opportunities for new generation”, Avangrid said then.
The investment “comes at a time when U.S. energy demand is surging due to manufacturing and data center growth”, it said.
Late last year Iberdrola took full ownership of Avangrid by acquiring the 18.4 percent shareholding it did not already own. Avangrid delisted from the New York Stock Exchange and has since been operating as a private company, its headquarters still in Connecticut.
“The merger will allow Iberdrola to invest in the United States more efficiently”, Iberdrola said December 23, 2024. “The subsidiary will be able to participate more economically in new energy infrastructure projects in its grid and renewable businesses, representing a significant investment in local communities and generating hundreds of direct and indirect jobs.
“These projects will create a more robust, resilient and reliable power grid, and will help meet the growing demand from utilities and data centers”.
To contact the author, email jov.onsat@rigzone.com
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