Clean Line Energy says that National Grid USA will make a $40 million investment in Clean Line Energy. National Grid is one of the largest investor-owned energy companies in the world and connects approximately seven million natural gas and electric customers in the Northeast to vital energy sources. Clean Line says it continues to make steady progress on the development of our four long-distance high voltage direct current (HVDC) transmission projects and this vote of confidence marks an important step forward for Clean Line.
National Grid has a strong understanding of HVDC technology, a commitment to cleaner energy, and operating and construction experience with complex infrastructure projects. National Grid was one of the first utilities to offer energy efficiency programs and it was the first company to sign on to purchase the output from a large offshore wind farm to be built off the Massachusetts coast. It has been an outspoken advocate for state and federal policies that deliver environmental benefits to customers and its region. NG built, operates, and owns a majority share of the U.S. portion of a 2,000 MW HVDC interconnector between New England and Canada. The interconnect is jointly owned by some 40 energy companies. In addition, NG is a partner in developing a proposed HVDC transmission project that would deliver renewable energy from Maine and Canada to Massachusetts. This wealth of experience makes National Grid an ideal backer for Clean Line.
Current investors in Clean Line will continue to invest in the company, and will remain on our board.
Clean Line Energy