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Central Maine Power to transfer clean energy line contracts to Avangrid Networks

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Essential Energy Insights - January 2021


Central Maine Power to transfer clean energy line contracts to Avangrid Networks

Central Maine Power Co. is seeking approval from the Federal Energy Regulatory Commission to transfer seven transmission service agreements related to the 1,200-MW New England Clean Energy Connect transmission line to a newly-created subsidiary of Avangrid Networks Inc. called NECEC LLC.

The New England Energy Connect project is a 320-kV, 145-mile overhead HVDC transmission line from the Québec-Maine border to Lewiston, Maine, which will allow for the delivery of up to 1,200 MW of hydroelectric energy from Québec to New England for at least 20 years. The project is in the permitting and early development stage.

Central Maine Power, also a subsidiary of Avangrid Inc., signed transmission service agreements, or TSAs, with participants that will fund the construction, operation and maintenance of its portion of the proposed transmission line.

The agreements and related books and records will be transferred from Central Maine Power to NECEC LLC, a limited liability company created to own, develop, construct, operate and maintain the transmission project on a going-forward basis.

The parties request FERC approval for the proposed transaction by March 10, 2020. (FERC docket EC20-24)