ATC Development Co. invests in leading Canadian HVDC transmission developer – oneGRID Corp.
Contacts:
John Douglas, oneGRID, 416-453-8290, John.douglas@onegridcorp.com
Anne Spaltholz, ATC, 262-506-6933, aspaltholz@atcllc.com
ATC Development Co. invests in leading Canadian HVDC transmission developer – oneGRID Corp.
Toronto, Ontario, August 24, 2017 – oneGRID Corp. announced that ATC Development Co. has invested development capital in oneGRID and has joined its Board of Directors. ATC Development Co. is the development branch of American Transmission Co., formed by its investor-owned utility members to pursue development outside of ATC’s traditional Midwestern United States footprint.
oneGRID, a Canadian independent transmission developer with projects in North and South America, is developing a portfolio of utility-scale high-voltage direct current transmission projects using underwater submarine cables. The principals of oneGRID have significant HVDC development experience including the 1,000 megawatt Lake Erie Connector, the 1,000 MW Empire State Connector and the 1,000 MW Champlain Hudson Power Express. oneGRID focuses on unlocking renewable generation by using proprietary and innovative submarine routes that solve for transmission congestion that will facilitate regulators to achieve their carbon emission reduction objectives.
“In addition to forming a capital partnership, oneGRID hopes to leverage ATC’s regulatory and operational expertise to help identify innovative HVDC transmission projects that will solve for transmission congestion, improve system reliability and help connect renewable generation,” said John Douglas, oneGRID CEO.
“Our investment in oneGRID is a good fit for our development goals,” said Mike Hofbauer, executive vice president of ATC Development Co., and a oneGRID board member. “The oneGRID team has a proven track record of identifying and successfully developing HVDC projects, which are on the rise throughout our industry to help move renewables to market and improve electric system reliability. We believe we can add value with our extensive transmission development experience, which includes HVDC.”
About HVDC technology
HVDC transmission was first commercialized in 1954, and since then, continuing advances in component and control technologies have reduced cost and increased flexibility leading to the successful implementation of approximately 200 HVDC projects on six continents. HVDC transmission typically consists of two converter stations connected by a long transmission line. One station converts AC to DC for power transmission, and the second converts DC back to AC for delivery to consumers. HVDC transmission lines can be installed overhead, underground or underwater using submarine cables.
The advantages of HVDC include:
- lower line losses,
- improved grid reliability and resiliency,
- power flow control and
- ability to connect asynchronous or out-of-phase systems.
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About oneGRID Corp.
oneGRID is an independent electricity transmission developer that focuses on innovative routes that will unlock renewable generating sources by relieving transmission congestion with minimal environmental impact. oneGRID uses safe and reliable HVDC technology to improve and strengthen grid performance. With projects in both North and South America, oneGRID is committed to responsible development that respects local communities and minimizes environmental impact. www.onegridcorp.com
About ATC Development Co.
ATC Development Co. is the development branch of American Transmission Co., formed by its investor-owned utility members to pursue development outside of ATC’s traditional Midwestern United States footprint. ATC is a Wisconsin-based utility that owns and operates the electric transmission system in portions of Wisconsin, Michigan, Minnesota and Illinois. Formed in 2001 as the nation’s first multi-state transmission-only utility, ATC has invested $4.3 billion to improve the adequacy and reliability of the transmission infrastructure in the Upper Midwest. ATC now owns and operates $4.6 billion in assets, including more than 9,540 miles of transmission lines and 548 substations. www.atcllc.com
