NY TRANSCO PARTNERS LOOK FORWARD TO ADVANCING THE PROPEL NY ENERGY TRANSMISSION SOLUTION

Clean Energy Infrastructure Project Will Connect Offshore Wind From Long Island to New York City, Westchester County

NEW YORK, June 21, 2023 /PRNewswire/ -- New York Transco, an electric transmission developer owned by Con Edison Transmission, National Grid Ventures, Avangrid and Central Hudson Electric Transmission, applauds its team members and its collaborator, the New York Power Authority, on the selection of their Propel NY Energy project in the New York Independent System Operator's (NYISO) Long Island Offshore Wind Export Public Policy Transmission Need solicitation. The partners thank the NYISO for its detailed review of many solutions offered by several developers leading up to the selection of this project.

Propel NY Energy will help deliver renewable offshore wind power from Long Island's electric grid to New York City and Westchester County, adding approximately 90 miles of new high-voltage transmission lines running underground and underwater. The project will strengthen the backbone of Long Island's electric system, improving grid resilience for current and future generations of New Yorkers, and help deliver clean energy throughout the State and region.

"We thank the NYISO for recognizing the many benefits of the Propel NY Energy solution, and, through New York Transco and NYPA, we look forward to the community collaboration across Long Island, New York City and Westchester to build this important clean energy infrastructure project," said Stuart Nachmias, President and CEO of Con Edison Transmission. "By boosting energy transfers between Long Island and the rest of the State, Propel NY Energy will add flexibility and resilience to the electric grid while supporting the continued development of New York's offshore wind industry. The project advances Con Edison's Clean Energy Commitment, enabling large amounts of renewable power to be integrated into the electric grid while supporting green job creation."

"National Grid has both global and local transmission experience, combined with a history of serving New York that will help us make Propel NY Energy a success," said Will Hazelip, President of National Grid Ventures, US Northeast. "Expanded, upgraded transmission is paramount to helping New York meet its ambitious climate targets and delivering clean energy from offshore wind to New Yorkers. National Grid Ventures is fortunate to be in a position where we are developing offshore wind infrastructure in the New York Bight under Community Offshore Wind and then helping deliver that clean energy through Propel NY Energy. We look forward to working with our partners to strengthen the backbone of the electric grid."

"A clean energy future is not possible without large-scale transmission, which is why projects like Propel NY Energy and partnerships like New York Transco are so important," said Pedro Azagra, Avangrid CEO. "Avangrid is very proud to be helping lead the United States' clean energy transition as the country's third largest wind operator and by developing the infrastructure needed to deliver that renewable energy to customers. We applaud NYISO for recognizing the critical importance of Propel NY Energy and all the benefits it will bring to New York state, including new jobs and the opportunity for local communities to participate in the clean energy transition. We look forward to collaborating with our partners at New York Transco and NYPA to bring clean, local energy to all New Yorkers."

"The Propel NY Energy project will play a critical role in reducing New York State carbon emissions by bringing clean off-shore wind-generated electricity to an area where it is greatly needed," said Central Hudson Electric Transmission's President Christopher Capone. "The Propel Project demonstrates our full corporate support for the State's nation leading climate goals. All of New York's utilities are fully committed to helping the State reach its clean energy goals; this project serves as the latest example of what we are capable of when we work together."

New York's Climate Leadership and Community Protection Act mandates the procurement of 9,000 megawatts of offshore wind by 2035, which is among the nation's most ambitious targets. A significant portion of that offshore wind generation will connect to Long Island's electric grid, but additional grid connections to the rest of the state are needed to provide reliability and to allow that clean power to reach consumers.

New York Transco is the owner and developer of several bulk power transmission projects in New York State, including projects that enabled the retirement of the Indian Point power plant, and the New York Energy Solution, a transmission upgrade that will help deliver clean renewable power from upstate generators to downstate consumers. The New York Energy Solution is nearing completion of construction, with many transmission segments already in service.

SOURCE Consolidated Edison, Inc.