October 13, 2020 – SOO Green HVDC Link (“SOO Green”) is undertaking an open solicitation process to allocate transmission capacity rights for a 2,100 MW merchant transmission project (“Project”). In response to requests by participants, SOO Green is accelerating the open solicitation’s unique matching process, which, like a dating service, will match Anchor Shippers (transmission capacity rights subscribers), generation Suppliers and renewable energy Buyers. SOO Green is also extending the Anchor Shipper registration deadline to January 29, 2021. If you desire to commence matching discussions with other SOO Green participants and/or gain first-mover advantage for allocation of transmission capacity rights, please register here. Registration is simple.
SOO Green transmission capacity rights will be allocated to Anchor Shippers on a first-come, first-served basis. After the allocation, Anchor Shippers will negotiate and execute precedent agreements (precursors to firm transmission capacity agreements) in Q1 2021.
Other interested parties seeking to participate in the open solicitation process as a Shipper (transmission capacity rights subscriber), Supplier (generation owner), or Buyer (load customer/aggregator) have until April 2021 to register. Registered participants can request to be “matched” with other registered participants according to commercial interests and afterwards compete in an auction for any remaining transmission capacity rights.
SOO Green will link the energy markets operated by the Midcontinent Independent System Operator, Inc. (“MISO”) and PJM Interconnection, L.L.C. (“PJM”). SOO Green will give renewable energy Buyers in PJM access to a diverse portfolio of large-scale renewable generation at a single point of delivery. SOO Green will create a path to market for renewable generation Suppliers in MISO by connecting to a large group of renewable energy Buyers in the PJM footprint. By linking two of the nation’s largest power markets, the Project will provide transmission capacity subscribers (Shippers) with long-term contracting opportunities with upstream Suppliers and downstream Buyers to lock-in energy, renewable energy credits, and capacity price spreads between the two markets. The Project remains on schedule for a Q4 2024 in-service date.
To participate as an Anchor Shipper in the Open Solicitation please register by January 29, 2021.
For more information about the SOO Green HVDC Link Open Solicitation, please visit soogreenhvdclink-os.com.
For additional information about the SOO Green HVDC Link’s Project, please visit the Project website at soogreenrr.com.
The SOO Green HVDC Link Team