Toronto, Ontario-based Borealis Infrastructure Management Inc. has joined the consortium of New York Regional Interconnect Inc. (NYRI) investors in the development of NYRI's proposed electrical transmission project in New York. NYRI says it plans to construct a 190-mile, high-voltage direct current transmission line as part of a long-term solution to New York's energy transmission bottlenecks. The project would facilitate the transmission of a diverse mix of power generated in upstate New York – including power from renewable sources, such as wind and hydropower – to areas downstate, NYRI adds.
The company submitted its Article VII application to the New York Public Service Commission a year ago. NYRI began a series of mediations with interested parties in January and was asked to augment its application with additional studies – expected in July.
‘The financial capabilities Borealis Infrastructure brings to the investment partner team will allow NYRI continuing resources to develop a successful transmission infrastructure project to meet the growing energy, economic and environmental needs for all of New York,’ says Bill May, project manager for NYRI.