1,000MW HVDC Transmission Line
The Ontario power market, controlled by the IESO, is currently oversupplied and often sells power to markets in the US at below-market or even negative prices. This situation has received much publicity in the past few years, and there is significant incentive to find a solution.
Currently, power is transmitted from Ontario to the US via two main land-based systems. One travels through New York (NYISO) and the other through Michigan (MISO). These systems are regularly congested and subject to curtailment, often when price differences between the Ontario-US markets are highest and energy traders are most incentivized to export power.
An additional private transmission route would provide energy traders with a guaranteed means of selling power at a fixed price over the long term. The size of the proposed transmission line is 1,000 MW and the capital cost of this infrastructure project would be approximately $1 billion USD. JCM's project partner has recently exited from the successful development of a similar transmission project between Quebec and New York and is confident in the team's ability to repeat the success.
JCM Capital is excited and proud to be financing and providing co-development services for this early stage and high profile HVDC transmission project between Canada and the United States. The new inter-tie will allow Canada to transmit surplus clean energy power generated via Ontario's Green Energy Act to the PJM markets where there is a demand.
Chief Risk Officer, JCM Power