NYRI press release
honk...@gmail.com
be interested in knowing who this new group is.
The project is picking up steam.
Also the Norwich Sun reported the a consulting group was visiting
local towns around Norwich getting information -- not sure just what
they were asking. The Norwich Sun no longer makes their articles
available online -- need a subscription. I am thankful that the
Binghamton Press is not going this route.
Borealis Infrastructure Management Joins Consortium of Investors in
New York Regional Interconnect (NYRI)
ALBANY, N.Y., May 17 /PRNewswire/ -- The New York Regional
Interconnect
Inc. (NYRI) announced today that Borealis Infrastructure Management
has
joined the consortium of NYRI investors in the development of NYRI's
proposed electrical transmission project in New York State.
Borealis Infrastructure is a global investment company with a
mandate
to invest in infrastructure assets in compliance with public policy
priorities. Borealis has the expertise to originate, validate, finance
and
asset manage large and complex investments in cooperation with other
corporations and interested parties. The Borealis investment augments
the
investment in NYRI by American Consumer Industries (ACI), a Delaware
investment holding company that specializes in environmentally
sensitive
power generation technologies and applications.
NYRI seeks to construct a 190-mile long, High-Voltage Direct
Current
("HVDC") transmission line as part of the long-term solution to New
York
State's severe energy transmission bottlenecks. These points of
congestion
contribute to higher electrical costs in the state and also create
negative
environmental impacts. Even though southern New York's demand for
electricity is projected to grow an average of two percent per year,
no new
transmission lines have been built to serve the downstate area from
upstate
resources in more than 20 years.
Many industry analysts, including the U.S. Department of Energy
(DOE)
and the New York Independent System Operators (NYISO), have
extensively
documented in recent comprehensive studies that New York's limitations
on
infrastructure for transmission of electricity will cause significant
long-term electrical reliability problems if not addressed now.
The proposed NYRI project would facilitate the transmission of a
diverse mix of power generated in upstate New York, including power
from
clean renewable sources such as wind and hydropower, to areas
downstate
where there is a growing demand. The project would be built at no cost
to
New York taxpayers.
The NYRI transmission line would be based on HVDC technology,
which has
been successfully built and operated around the world. HVDC is well
documented as a safe and efficient technology with many technical
features
that increase reliability and efficiency.
NYRI submitted its Article VII application to the New York Public
Service Commission (NYPSC) in May 2006. In January, 2007, NYRI began a
series of mediations with interested parties under an administrative
law
judge appointed by the NYPSC, and was requested to augment its
application
with additional studies. NYRI expects to file the requested
supplements
with the NYPSC in July 2007.
"We are excited about the opportunity of having Borealis
Infrastructure
join the NYRI Project development team because of their global
experience
with large projects that serve public need in growing economies," said
Bill
May Project Manager for NYRI. "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 State."
About Borealis Infrastructure
Borealis Infrastructure identifies, invests in and manages OMERS
infrastructure assets, which provide competitive and stable rates of
return
over a long investment horizon. In the business since 1998, Borealis
is a
global leader in infrastructure investing, with assets in energy,
transportation, infrastructure buildings, including long-term care
facilities and hospitals, pipelines and telecommunications. OMERS is
one of
Canada's largest pension plans, with more than US $43 billion in
assets. It
provides retirement benefits to about 365,000 members on behalf of
approximately 900 local government employers across Ontario.
http://www.borealisinfrastructure.com/
About American Consumer Industries (ACI)
American Consumer Industries Inc. (ACI) is a Delaware investment
holding company that specializes in environmentally sensitive power
generation technologies and applications. ACI was formed in 1983 and
holds
direct interests in various companies. For information on each of
these
companies, please click on the headings below. http://www.aciinc.net/
About NYRI
New York Regional Interconnect Inc. (NYRI) constitutes a group of
investors, engineers, attorneys, economists and environmental
scientists
proposing to build a transmission line that would bring energy from
areas
with abundant supply to areas with high demand. NYRI is working with
state
leaders and communities to enhance public understanding of energy
issues,
support conservation and promote responsible energy production.
http://www.nyri.us/
Media Contact:
David Kalson
RF|Binder Partners
(518) 935-1040
(212) 994-7513
david....@rfbinder.com
SOURCE New York Regional Interconnect Inc.