SOO Green HVDC Link is undertaking an open solicitation process to allocate transmission capacity rights from an innovative merchant, rail co-located project linking the MISO and PJM markets. The open solicitation process will begin in the coming weeks and will involve three phases.
Phase I of the open solicitation will provide an opportunity for “Anchor” Shippers to subscribe capacity on the line. Anchor shippers will receive favorable pricing and other first-mover advantages.
In Phase 2, the open solicitation will employ an innovative, web-based platform to match prospective shippers, and buyers and sellers of energy, capacity and RECs delivered by SOO Green.
Matched counterparties will have an opportunity to request transmission capacity and participate in a Phase 3 transmission capacity rights auction in early 2021 as part of the open solicitation.
The SOO Green HVDC Link is pioneering a new model to build high voltage direct current transmission lines underground along major rail corridors. This approach breaks through siting, permitting and market barriers to directly link abundant wind and solar generation with end-users seeking affordable renewable energy.
SOO Green will connect two of the largest electricity markets in the U.S.: the Midwestern MISO market where renewable energy is abundant and inexpensive, and the eastern PJM market, where clean energy demand is strong but more difficult and costly to develop.
SOO Green will run along rail right of way from central Iowa to eastern Illinois, delivering more than 2,000 megawatts of large-scale low-cost clean energy to buyers in the eastern U.S.