PPL Corporation, the Pennsylvania-based energy company, announced that it acquired an ownership interest in the innovative SOO Green Project this Monday. PPL Corporation focuses on delivering electricity and natural gas to more than 2,5 million customers in the U.S.
Firstly, the capital investment from PPL Corporation upon the SOO Green Project was not disclosed. However, the construction of the project will begin in 2023. It will begin commercial operations around three years after.
The SOO Green Project it’s a first-of-its-kind underground HVDC transmission line. It is primarily located along the Canadian Pacific rail. It will connect, however, to the MISO and PJM regional markets. According to the statement, the transmission line will deliver 2,100 megawatts of renewable energy from the upper Midwest to eastern markets.
Moreover, the line has around 350-miles and will use state-of-the-art 525KV class underground cable. Siemens will also provide its modern Voltage Sourced Converter technology to the project. Indeed, the project will be the first link in a national electricity grid.
In addition, the project will have an underground location, which is strategic to its objectives as an enabler of clean energy delivery. Its innovative model could be replicated to accelerate decarbonization and enhance the grid’s reliability and resilience.
Also recommended for you: Clean Fuel Standard in Canada shouldn’t go ahead: clean energy groups. Click here to read.
PPL Corporation pushing for energy transition
Furthermore, its cables will run underground as it uses railroad rights-of-way. By such a strategy, the project avoids using eminent domain to secure the route; which further protects landowners. It also enables faster permitting, avoiding environmental and visual impacts associated with traditional overhead transmission lines.
Overall, the project has private financing of $2,5 billion. Consequently, it imposes no costs on ratepayers and avoids the lengthy and complex cost allocation process. Particularly for PPL Corporation, the investment further expands its efforts into energy transition.
Gregory N. Dudkin, CEO of PPL Corporation, said. “PPL is pleased to support a project focused on transforming how major transmission line projects are built in the U.S. SOO Green’s innovative approach aims to remove key barriers to interregional transmission line construction that will be essential to connecting more largescale renewable energy to the grid.”
He also remarked. “As PPL seeks to advance a clean energy transition, we look forward to gaining insight from SOO Green’s innovative approach, and we are excited to lend our capabilities to support the project’s success.”
Finally, Karl Miller, CEO of Jingoli Power, a co-sponsor and the project’s general contractor, said. “We’re thrilled PPL has recognized the project’s revolutionary model to ease constraints for other regional wind and solar developments that will help make the U.S.’s ambitious clean energy goals possible. We’re eager to get to work with our new partners.”
