Avangrid Subsidiary Awarded $31.8M Federal Grant to Deploy Cutting Edge Grid Technology

10/18/2024

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AUGUSTA, Maine--(BUSINESS WIRE)-- Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, announced today that Central Maine Power (CMP) has been awarded $31.8 million in federal funding to deploy innovative technologies to create a more modern and dynamic power grid to support the deployment of renewable energy in Maine. This grant was awarded through the U.S. Department of Energy's Grid Resilience and Innovation Partnerships (GRIP) program and is funded by the Bipartisan Infrastructure Law.

These initiatives are being driven at the state-level in Maine by the Flexible Interconnections and Resilience for Maine (FIRM) project, led by the Governor's Energy Office, part of the administration of Governor Janet Mills. Specifically, this funding will be used to deploy Active Network Management (ANM) and Dynamic Line Rating (DLR). Together, these smart grid technologies will help connect more renewable energy to the power grid while also protecting it from overloading.

"Our ability to connect more clean, affordable energy to Maine's power grid is critical to meeting the state's climate goals," said Pedro Azagra, Avangrid CEO. "Over the past year, CMP and Avangrid have received nearly a half billion dollars in federal awards that will directly benefit our customers. I want to extend our gratitude to Governor Mills, Secretary Granholm, and Maine's Congressional Delegation for their ongoing support as we continue to combat extreme weather and build smarter, stronger, and more resilient energy infrastructure for Maine."

"In order to reduce our dependence on fossil fuels and embrace clean energy, we must make sure that Maine has a strong electrical grid that can accept power from multiple sources and deliver it efficiently and reliably to Maine people and businesses," said Governor Janet Mills. "That's why my Administration, through innovative projects like these, is focused on working with Maine's utilities to strengthen and modernize our electrical infrastructure. We want to build the grid of the future, and programs like this - with Federal support - are moving us in that direction. I thank Maine's Congressional Delegation and the Biden-Harris Administration for their support and for this investment, which was made possible through the Bipartisan Infrastructure Law."

This grant from the U.S. Department of Energy brings Central Maine Power and Avangrid's total federal awards to nearly a half billion dollars in one year.

• October 2024: Flexible Interconnections and Resilience for Maine (FIRM). Central Maine Power was selected to receive a $31.8 million grant to support smart grid technologies that will help connect more renewable energy to the power grid while also protecting it from overloading.
• September 2024: Aroostook Renewable Project. Avangrid was selected to receive a $425 million capacity contract, one of the largest federal energy investments in Maine's history. The award will support transmission line development and help unlock high-quality renewable energy for the region.
• July 2024: Shaw Mill Project. Central Maine Power was selected to receive a $1.6 million grant to install upgraded grid measures and switching devices to enhance reliability for local communities in Maine.
• October 2023: Enhancing Utility Resilience in America's Most Forested State. Central Maine Power was selected to receive a $30.3 million grant to deploy Smart Grid technologies including advanced grid restoration (AGR), sequential reclosing (SR), and supervisory control and data acquisition (SCADA) switches. Together, these are innovative technologies designed to reduce the frequency and impact of outages to Maine's communities.

"A strong, modern electrical grid is essential for unlocking affordable, reliable, clean energy for Maine people," said Dan Burgess, Director of the Maine Governor's Energy Office. "Though this award, the FIRM project will deliver cutting edge technologies that will expand grid capacity and allow for more flexible management of clean energy resources while growing Maine's clean energy workforce through training opportunities, apprenticeships, and job creation."

About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $46 billion in assets and operations in 24 U.S. states, Avangrid has two primary lines of business: networks and renewables. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, Avangrid owns and operates a portfolio of renewable energy generation facilities across the United States. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital as one of the JUST 100 companies - a ranking of America's best corporate citizens - in 2024 for the fourth consecutive year. In 2024, Avangrid ranked first among utilities and 12 overall. The company supports the U.N.'s Sustainable Development Goals and was named among the World's Most Ethical Companies in 2024 for the sixth consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.

Source: AVANGRID, Inc.

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