GE unit to auction transmission capacity from its smart grid project
General Electric unit GE Energy Financial Services announced today that it will auction 315 MW of bi-directional electricity transfer capacity across its Linden Variable Frequency Transformer smart grid project, which uses GE technology to enable a simple and controlled transmission path between electrical grids.
GE Energy Financial Services will hold the auction in April. It will sell 90 MW of transmission scheduling rights that will become available on June 1, 2016, and 225 MW of transmission scheduling rights that will become available on June 1, 2018.
The term length of the TSR purchase agreements can be designated by the bidder. The term length options are from two to five years for the TSR agreements starting June 1, 2016, and from one to three years for the TSR agreements starting June 1, 2018.