The New York Power Authority is taking a 37.5 percent ownership stake in a electric power transmission line project from Marcy to the Albany area intended to relieve transmission congestion and help get power from renewable sources in western New York to other parts of the state.
The Power Authority board of trustees approved a measure to exercise its option to take partial ownership with LS Power Grid New York on Tuesday. They organizations have been sharing development costs. The ownership stake ensures that NYPA and LS Power both have a vested interest in the project’s success.
The project involves work along approximately 100 miles of transmission lines and the construction of two new substations between the Power Authority’s central transmission hub in Marcy and the New Scotland substation in Albany County. The project will use existing electric transmission corridors. Replacing aging and outdated transmission towers, some more than 60 years old, with the latest technologies is intended to enable more efficient energy flow while reducing the number of transmission structures.
More than 80 percent of the Power Authority’s electricity comes from hydropower. It finances its operations through the sale of bonds and sale of electricity.
NYPA and LS Power Grid New York filed an application to construct the project with the New York Public Service Commission in August 2019.