US utility ATC Development invests in Canadian HVDC transmission developer, oneGRID
Pushing outside its roots in Midwestern utility, the U.S.-based ATC Development Co. has invested development funds into Canadian independent transmission developer oneGRID, gaining a place on its
board of directors.
What seems to have attracted ATC’s attention and interest is oneGRID’s development of utility-scale high-voltage direct current transmission (HVDC) projects with underwater submarine cables. oneGRID has been working to create renewable generation through submarine routes as a means of overcoming transmission congestion and reducing carbon emissions.
“In addition to forming a capital partnership, oneGRID hopes to leverage ATC’s regulatory and operational expertise to help identify innovative HVDC transmission projects that will solve for transmission congestion, improve system reliability and help connect renewable generation,” oneGRID CEO John Douglas said.
HVDC essentially increase flexibility in the electric system. Its lines can go overhead, underground, or underwater. Under its system, two converter stations use one long transmission line to connect. While one station converts AC to DC to be transmitted, the other converts it back for actual use by consumers. Proponents, like oneGRID, note that it holds the potential to reduce line losses, improve grid reliability, provide flow control and to connect
“The oneGRID team has a proven track record of identifying and successfully developing HVDC projects, which are on the rise throughout our industry to help move renewables to market and improve electric system reliability,” Mike Hofbauer, executive vice president of ATC Development Co. and a oneGRID board member, said. “We believe we can add value with our extensive transmission development experience, which includes HVDC.”
