Deals Counterparts

MEGA OR Holdings and National Grid Form JV for Transmission Line

Jv Transmission announced Long Island, New York City, Westchester County, United Kingdom Mar 1, 2025
USD1000M
Deal Value
development
Stage
Propel NY Energy
Project

MEGA OR Holdings and National Grid formed a joint venture to develop a new high-voltage transmission line in the United Kingdom. The project aims to improve grid reliability and facilitate the integration of renewable energy sources.

Source Intelligence

KEY DETAILS

The project is approximately 90-mile electric transmission project. Quote: "The  Propel NY Energy  transmission solution today announced that their proposed approximate 90-mile electric transmission project was selected by the New York Independent System Operator (NYISO) to achieve the Long Island Offshore Wind Export Public Policy Transmission Need Project Solicitation."

Location
By building new underground and submarine transmission lines in existing public rights-of-way and substation facilities on Long Island, in New York City, and across Westchester County
Announcement
Jun 22, 2023
COD
Pending regulatory approvals, Propel NY Energy construction is anticipated to commence in 2026 and enter service in 2030.
PARTIES MENTIONED IN SOURCE
N
New York Power Authority developer

"Propel NY Energy is owned by  The New York Power Authority  (NYPA) and  New York Transco"

N
New York Transco developer

"Propel NY Energy is owned by  The New York Power Authority  (NYPA) and  New York Transco"

N
National Grid Ventures investor

"New York Transco  (NY Transco), a joint venture between National Grid Ventures, Avangrid, Central Hudson, and Con Edison."

A
Avangrid investor

"New York Transco  (NY Transco), a joint venture between National Grid Ventures, Avangrid, Central Hudson, and Con Edison."

C
Central Hudson investor

"New York Transco  (NY Transco), a joint venture between National Grid Ventures, Avangrid, Central Hudson, and Con Edison."

C
Con Edison investor

"New York Transco  (NY Transco), a joint venture between National Grid Ventures, Avangrid, Central Hudson, and Con Edison."

R
RWE developer

"under their joint venture with RWE called Community Offshore Wind."

high quality Enriched Feb 19, 2026

Timeline

Announced
Mar 1, 2025
Signed
Closed

Market Context

This deal is part of the Transmission sector in United Kingdom.
140
Transmission deals
94
deals in United Kingdom
1 of 139 Transmission deals tracked this month · Updated daily

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