A recent meeting between Maine Governor Paul LePage and Iberdrola chairman Ignacio Galan focused on the states energy future. Iberdrola is the corporate parent of Central Maine Power (CMP).
Galan notes, CMPs Maine Power Reliability Program is among our largest, most important projects in the United States in recent years. We are pleased with the progress, and we look forward to additional investments to enhance service for our customers and support the development of clean, renewable smart energy resources for Maine and the rest of New England.
According to Iberdrola, the Maine power reliability program is a $1.4 billion investment in the states bulk power grid that is now in its fifth year of construction. In recent months, CMP has announced steps toward joint project development with Emera Maine in response to a call by the six New England governors for investments in the regions energy infrastructure to diversify the energy portfolio and gain access to new renewable energy resources. CMP and Emera are exploring projects to improve links between southern New England and northern Maine, where more than 2,100 megawatts of wind power development have been proposed.
Iberdrola USA chief executive officer Bob Kump, says, Over the past five years, Iberdrola has supported $2 billion of investment in CMPs bulk power grid, system automation, and advanced metering infrastructure. Chairman Galans visit reflects Iberdrolas continued commitment to our U.S. businesses and Maines energy future.
CMP CEO Sara Burns adds: Iberdrolas support for our company is making a difference for our customers, the State of Maine, and all of New England. The MPRP created thousands of jobs and hundreds of millions of dollars in construction spending during several years of deep recession for Maine, and following almost five years of construction, the project is on schedule for completion this year and within budget. Our Advanced Meter Infrastructure also continues to create new opportunities for better, more efficient operations along with convenience and savings for our customers. We truly are delivering a stronger, smart grid with these investments.
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