Central Maine Power Wins $31.8 Million Grant
Avangrid, Inc. (NYSE: AGR), a major player in sustainable energy and part of the Iberdrola Group, has just announced that its subsidiary, Central Maine Power (CMP), has secured a hefty $31.8 million in federal funding.
The grant is all about giving Maine’s power grid a tech upgrade to handle more renewable energy and prevent overloads.
Funded by the Bipartisan Infrastructure Law, the U.S. Department of Energy’s Grid Resilience and Innovation Partnerships (GRIP) program is making it all happen.
So, what does that mean for Maine?
Well, the Flexible Interconnections and Resilience for Maine (FIRM) project is driving this initiative.
They’re rolling out cutting-edge technologies like Active Network Management (ANM) and Dynamic Line Rating (DLR)—basically smart grid stuff that makes sure more renewable energy can connect to the grid without it blowing a fuse.
If you’re wondering why Maine is focusing on this, it’s all part of the state’s push to hit its climate goals, which Governor Janet Mills is pretty passionate about.
Pedro Azagra, Avangrid CEO said:
“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.”
And let’s be real, in a state as beautiful as Maine, who wouldn’t want more clean, green energy?
On a more interesting note, this grant bumps up CMP and Avangrid’s federal awards to nearly half a billion dollars over the past year.
That’s a lot of zeros! From improving resilience to smart grids to unlocking top-notch renewable energy, these projects are definitely giving Maine a power-up.
With the FIRM project, Maine is getting closer to a power grid that’s as dynamic as its famous coastal views.
And honestly, with tech like this, who wouldn’t want their energy to be just as smart?
