The California Independent System Operator ("CAISO") announced that it has selected LS Power Grid California, LLC, to finance, construct, own, operate and maintain two new projects to support electric reliability in California: the Newark – Northern Receiving Station HVDC Project ("Newark Project") and the Metcalf – San Jose B HVDC Proj¬ect ("Metcalf Project").
"LS Power is pleased to be selected in CAISO's competitive processes to improve the reliability of the power grid in the San Jose area," said Paul Thessen, President of LS Power Development. "The projects will employ some of the most advanced grid technologies to reliably serve San Jose's growing electric load and support California's energy transition."
CAISO conducted a competitive selection process pursuant to the Federal Energy Regulatory Commission's Order No. 1000 and selected LS Power's proposals from a total of six qualified proposals for the Newark Project and five qualified proposals for the Metcalf Project. These selections represent LS Power's sixth and seventh competitively procured transmission awards by CAISO. CAISO's selection of LS Power is based on a comparative analysis, which identified the sponsor best able to implement the project in a cost-effective, efficient, prudent, reliable, and capable manner over the lifetime of the facility while maximizing overall benefits and minimizing risks.
The Newark Project and Metcalf Project were planned by CAISO to reinforce the electrical grid in and around San Jose, enhance reliability, and increase access to cost-effective, renewable electricity. Each project provides a new high voltage source to the San Jose area with the ability to control power flows via high voltage direct current (HVDC) converter stations connected to existing substations in the area. The projects are pre-planned for future expansions that can facilitate enhanced power control on the California grid to reliably accommodate future growth.
"LS Power thanks CAISO for its efforts in conducting a thorough, competitive process to achieve cost-efficient transmission solutions to the benefit of electric consumers," Thessen said. "Our team looks forward to collaborating with CAISO, the California Public Utilities Commission, and local communities in advancing these projects together."
