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Avangrid subsidiary awarded $31.8M in federal funding

Avangrid (AGR) announced that Central Maine Power, or CMP, has been awarded $31.8 million in federal funding to deploy technologies to create a more modern and dynamic power grid to support the deployment of renewable energy in Maine. This grant was awarded through the U.S. Department of Energy’s Grid Resilience and Innovation Partnerships program and is funded by the Bipartisan Infrastructure Law. These initiatives are being driven at the state-level in Maine by the Flexible Interconnections and Resilience for Maine project, led by the Governor’s Energy Office, part of the administration of Governor Janet Mills. Specifically, this funding will be used to deploy Active Network Management and Dynamic Line Rating (DLR). Together, these smart grid technologies will help connect more renewable energy to the power grid while also protecting it from overloading.

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