The Atlantic Wind Connection is a 756-mile, 320-kV transmission line that originates at Virginia and terminates at New Jersey. The transmission project is led by Trans-Elect with Atlantic Grid Development as the project developer and Good Energies, Google and Marubeni Corp. as sponsors. It’s an underwater transmission project designed to connect renewable energy projects along the eastern seaboard. On May 19, 2011, FERC approved a filing that included an ROE of 12.59%, 100% CWIP in rate base and other prudent investment costs as wells a 60:40 split on equity to debt financing. Google will own 37.5% stake. Work would be done in two phases starting with a $1.7bn to $1.8bn, 150-mile stretch finished by 2016. The remainder of the 756-mile project is to be done by 2021. There will be nine offshore converter platforms developed to connect offshore wind projects.
|Project Sponsor||Line Miles||Voltage (kV)||From State||To State||Year in Service|
|Trans-Elect Development Company LLC||756||320||VA||NJ||2021|
|Estimated Costs ($M)||Voltage Type||Project Status||Project Group||Origin Point||Destination Point|
|Interstate||Build Start||NERC||ISO/RTO||Country||Project Partners|
|RFC||PJM||US||Trans-Elec, Good Energies (37.5%), Google (37.5%) and Marubeni Corporation (15%)|