MINNEAPOLIS, August 5, 2020 /PRNewswire/ -- Today, SOO Green HVDC Link ProjectCo, LLC (SOO Green) announced the launch of an innovative Open Solicitation process to allocate transmission capacity rights on a first-of-its-kind project co-locating electric transmission line underground within an existing railroad corridor. The 2,100 MW, high voltage direct current transmission line will link energy markets in the Midwest and Eastern United States, relieve Midwestern transmission constraints, and provide buyers direct access to a diverse portfolio of Midwestern generation.
SOO Green's project route will run 350 miles from Mason City, IA to Plano, IL, and will follow an existing railroad corridor, greatly reducing environmental, viewshed and landowner impacts. The $2.5 billion interregional "backbone" transmission project will be operational in late 2024.
While SOO Green transmission capacity rights will be made available without preference to shippers across all asset classes, the project is especially well-suited for renewable generators in MISO in need of transmission paths to market, and for renewable energy buyers in PJM seeking direct access to large-scale, diverse and affordable renewable energy.
Parties interested in obtaining transmission capacity rights (shippers), generators interested in selling (suppliers) and customers interested in buying energy products transmitted by the SOO Green project (buyers), can register on SOO Green's Open Solicitation website at www.soogreenhvdclink-os.com. London Economics International (LEI) will act as Independent Evaluator to administer the Open Solicitation process on behalf of SOO Green. The Open Solicitation process would involve three phases. First, Anchor Shippers will be able to obtain capacity rights at a published "reserve price." Then, Phase 2 would allow for a voluntary "matching" process, where the Independent Evaluator will match interested shippers with suppliers and buyers, with aligned commercial interests, and give the matched parties an opportunity to negotiate any desired commercial arrangements to support the acquisition of capacity rights in the Phase 3 auction.
The SOO Green project is financially backed by Jingoli Power, Copenhagen Infrastructure Partners and Siemens Energy, and has a strategic partnership with Canadian Pacific.
To obtain a detailed notice of Open Solicitation process please click here or visit SOO Green's dedicated Open Solicitation website at www.soogreenhvdclink-os.com. For additional information about SOO Green, please visit the project website at www.soogreenrr.com.
Direct Connect Development Co, LLC is developing the SOO Green project and other innovative rail co-located transmission projects across the United States. The Direct Connect team possesses over 150 years of collective experience in the electric power, renewable energy, and transmission sectors.
SOURCE SOO Green HVDC Link
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