National Grid’s $4 B upgrade plan
The company is set to construct or rebuild more than 1000 miles of transmission lines and 45 substations.
Image for illustration purposes.
USA, New York: The US unit of Britain’s National Grid announced it would invest more than $4 billion to improve New York State’s infrastructure to meet growing demand for more reliable and cleaner energy. It would be the company’s largest investment in the state’s electricity transmission system, most of which was built more than a century ago. The investment program called Upstate Upgrade includes more than 70 projects through 2030 and could generate jobs and more than $1 billion in additional economic gains.
On one hand, electric vehicles and artificial intelligence are causing an increase in power demand, and on the other, the grid, strained by storms, floods and heat waves, is struggling to meet the needs. Infrastructural improvements can help meet new demand and help New York reach its energy transition targets. The state must triple its clean energy supply to meet the goal of an emission-free electric system by 2040. National Grid is set to construct or rebuild more than 1000 miles of transmission lines and 45 substations.
“This six-year portfolio of work will transform the grid, improve reliability and resilience and enable us to deliver renewable energy to homes and businesses across New York,” National Grid New York President Rudy Wynter commented.
Source: Reuters
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