US Subsidiary of Iberdrola Secures $425m Contract for Aroostook Project
Key Ideas
- Avangrid, a US subsidiary of Iberdrola, has been awarded a $425 million contract by the US Department of Energy for the Aroostook renewable project.
- Maine Public Utilities Commission is issuing a request for proposals for transmission lines to connect 1,200 MW of renewable energy to the New England power grid.
- Iberdrola has formed alliances with Enel, E.ON, and Mitsubishi to establish a supply chain for green hydrogen from Spain to Central Europe, receiving recognition from the European CEF Energy Cross Border seal.
- The initiatives, named Cicerone-CEO and Pontis, aim to transfer renewable energy between EU countries and bring Spanish hydrogen to Central Europe.
Avangrid, a subsidiary of Iberdrola based in the US, has secured a $425 million capacity contract for its Aroostook renewable project, as announced by the US Department of Energy. This development coincides with the Maine Public Utilities Commission's plans to request proposals for transmission lines to connect 1,200 MW of renewable energy to the New England power grid. Avangrid intends to participate in this process, incorporating the $425 million contract into its proposal. On another front, Iberdrola has teamed up with Enel Green Power, E.ON, and Mitsubishi to create a supply chain for green hydrogen from Spain to Central Europe. The initiatives, named Cicerone-CEO and Pontis, have received recognition from the European CEF Energy Cross Border seal, endorsing the concept of transferring renewable energy between EU countries and facilitating the transportation of Spanish hydrogen to Central Europe. While administrative procedures lie ahead, these efforts mark significant progress in promoting renewable energy and green hydrogen within the European energy market.