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LS Power Grid Maine Receives Bipartisan Legislative Approval for Aroostook Renewable Gateway

LS Power Grid Maine Receives Bipartisan Legislative Approval for Aroostook Renewable Gateway

CHESTERFIELD, Mo.June 26, 2023 /PRNewswire/ — LS Power Grid Maine, a subsidiary of LS Power, has received bipartisan legislative approval for Aroostook Renewable Gateway, an electric transmission line to interconnect renewable energy resources in northern Maine with the electric grid operated by the New England independent system operator (ISO-NE).

Legislative Document 924 (L.D. 924), signed on June 22, 2023 by Governor Janet Mills of Maine, provides the first of several approvals LS Power Grid Maine requires to build new transmission infrastructure that will create hundreds of construction jobs, provide tens of millions of dollars in new tax base to host communities, deliver fixed price renewable energy from Aroostook County to provide power to Maine homes and businesses, and enhance transmission grid reliability.

“LS Power is grateful for the leadership of Senate President Troy Jackson and Senate Republican Leader Trey Stewart for sponsoring L.D. 924 and their bipartisan efforts and support that led to the successful passage of this important bill. I would like to thank Governor Mills for signing this legislation and appreciate her continued support as we advance this important project. The Aroostook Renewable Gateway will allow us to deliver cost effective, renewable energy from Aroostook County to Maine and the regional power grid,” said Paul Thessen, President of LS Power Development.

“The Legislature’s bipartisan approval is a major step towards ensuring Maine meets its ambitious renewable energy and climate goals in a cost-conscious manner while realizing economic benefits for the state,” continued Thessen.

The LS Power Grid Maine project calls for building more than 100 miles of new 345 kV transmission lines and multiple substations to deliver new renewable energy from Aroostook County. These projects will provide significant benefits to Maine and the region, including jobs, tax revenues and avoided emissions from fossil fuels. The location of the new facilities will be considered through a robust siting and stakeholder engagement process with community open houses beginning later this year. This information will be evaluated and presented in an application with the Maine Public Utilities Commission requesting approval of a final route.

“We look forward to implementing this industry-leading grid infrastructure in close collaboration with Maine’s local and state regulatory agencies, local communities, and other stakeholders,” said Doug Mulvey, Vice President, LS Power Development. “We are excited to be part of building Maine’s renewable energy future.”

About LS Power Grid
LS Power Grid, a leading developer and operator of electric transmission based in Chesterfield, MO, is an advocate for transparent and competitive processes to plan, build and own transmission infrastructure. These processes encourage innovative solutions, facilitate the integration of renewable resources, and lower costs. For information, please visit www.LSPowerGrid.com.

ABOUT LS POWER:

Founded in 1990, LS Power is a premier development, investment, and operating company focused on the North American power and energy infrastructure sector, with leading platforms across generation, transmission and energy transition solutions. Since inception, LS Power has developed or acquired 47,000 MW of power generation, including utility-scale solar, wind, hydro, battery energy storage, and natural gas-fired facilities. Additionally, LS Power Grid has built and operates 680 miles of high-voltage transmission, with 200+ miles and multiple grid infrastructure projects currently under construction or development. LS Power actively invests in and scales businesses that are accelerating the energy transition, including electric vehicle charging, demand response, microgrids, renewable fuels and waste-to-energy platforms. Over the years, LS Power has raised $54 billion in debt and equity capital to support North American infrastructure. For information, please visit www.LSPower.com.