Avista selected for $85 million grant for transmission line update
Rhea-AI Summary
The U.S. Department of Energy (DOE) has awarded $85,664,781 in grant funding to Avista and Idaho Power through its Grid Resilience and Innovation Partnerships (GRIP) program. The funds will be used to reconstruct the Lolo-Oxbow 230-kV transmission line, running from the Oxbow Dam on the Oregon-Idaho border to Lewiston, Idaho.
The project aims to:
- Enhance grid flexibility
- Improve resilience against wildfires
- Increase interregional capacity by approximately 635 MW
- Enable workforce development and job creation
Avista and Idaho Power will contribute an additional $86 million to complete the project over the next five years. The upgrade is expected to benefit hundreds of thousands of people, including the Nez Perce Tribe, by improving power system resilience and increasing renewable energy integration capacity.
Positive
- Received $85.6 million government grant for transmission line upgrade
- Project will increase interregional capacity by 635 MW
- Improved grid resilience against wildfires
- Enhanced renewable energy integration capacity
- Potential for job creation and workforce development
Negative
- Significant $86 million investment required from Avista and Idaho Power
News Market Reaction 1 Alert
On the day this news was published, AVA declined 0.13%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
The project, in partnership with Idaho Power, will enhance grid flexibility, improve resilience against wildfire, and increase capacity for the region
SPOKANE, Wash., Oct. 21, 2024 (GLOBE NEWSWIRE) -- The U.S. Department of Energy (DOE) is awarding
Idaho Power’s new Pallette Junction Station will increase interregional transfer capability between the Pacific Northwest and Mountain regions. The project uses innovative construction approaches and advanced power flow control devices to optimally distribute power across the Lolo-Oxbow line and three other lines that comprise an Idaho-to-Northwest transmission path whose capacity is currently strained.
This modernization will benefits hundreds of thousands of people by:
- Improving the power system’s resilience against wildfires, aiming to reduce line outages to less than one per year.
- Increasing interregional capacity by approximately 635 MW, benefiting customers across the region, including the Nez Perce Tribe as they seek generation interconnection capacity for renewable resources on their reservation.
- Enabling workforce development and job creation, including collaboration with the International Brotherhood of Electrical Workers (IBEW) labor union.
“Modern transmission infrastructure is one of the nation’s most urgent needs. That’s why Avista is committed to working alongside our partners to innovate and invest in the systems and technologies powering the Northwest,” said Avista Vice President of Energy Delivery Josh DiLuciano. “Upgrading the Lolo-Oxbow line is crucial for meeting our customers’ growing needs, integrating renewable energy, and supporting a more resilient energy grid.”
“Safety, reliability, and affordability have been hallmarks of Idaho Power’s service for more than 100 years,” said Mitch Colburn, Idaho Power Vice President of Planning, Engineering, and Construction. “Working with Avista on the Lolo-Oxbow upgrade will strengthen our ability to continue providing all three. The DOE’s contribution expedites this project and sends a signal that infrastructure is a priority for our country.”
Together, Avista Utilities and Idaho Power Company will contribute approximately
Established by the Bipartisan Infrastructure Law, the GRIP Program is a
Learn more about the Lolo-Oxbow transmission project or read the DOE’s press release online.
About Avista Utilities
Avista Utilities is involved in the production, transmission and distribution of energy. We provide energy services and electricity to 418,000 customers and natural gas to 382,000 customers in a service territory that covers 30,000 square miles in eastern Washington, northern Idaho and parts of southern and eastern Oregon, with a population of 1.7 million. Avista Utilities is an operating division of Avista Corp. (NYSE: AVA). For more information, please visit www.myavista.com.
The Avista logo is a trademark of Avista Corporation.
About Idaho Power
Idaho Power, headquartered in vibrant and fast-growing Boise, Idaho, has been a locally operated energy company since 1916. Today, it serves a 24,000-square-mile area in Idaho and Oregon. The company has a long history of safely providing reliable, affordable, clean energy. With 17 low-cost hydroelectric projects at the core of its diverse energy mix, Idaho Power’s residential, business, and agricultural customers pay among the nation’s lowest prices for electricity. Its 2,100 employees proudly serve more than 640,000 customers with a culture of safety first, integrity always, and respect for all.
IDACORP Inc. (NYSE: IDA), Idaho Power’s independent publicly traded parent company, is also headquartered in Boise, Idaho. To learn more, visit idahopower.com or idacorpinc.com.
To unsubscribe from Avista’s news release distribution, send reply message to Dalila.Sheehan@avistacorp.com.
Contact:
Avista Media: Ariana Barrey (509) 279-3308, ariana.barrey@avistacorp.com
Avista 24/7 Media Access: (509) 495-4174
Idaho Power Media: Sven Berg, sberg@idahopower.com
FAQ
What is the value of the grant Avista (AVA) received for the Lolo-Oxbow transmission line project?
How much additional capacity will the Lolo-Oxbow project add to Avista's (AVA) transmission network?
What is the timeline for Avista's (AVA) Lolo-Oxbow transmission line upgrade project?
How much are Avista (AVA) and Idaho Power contributing to the Lolo-Oxbow project?
