Avangrid Subsidiary RG&E Completes $23 Million Investment in New Substation in Sodus
MWN-AI** Summary
Avangrid's subsidiary, Rochester Gas and Electric (RG&E), has announced the completion of a significant $23 million investment in a new substation located in Sodus, New York. This modern infrastructure upgrade will enhance both the reliability and capacity of electric service for over 3,300 residential and commercial customers in the region. This project is part of a broader commitment from Avangrid, which has secured over $7 billion in investments statewide through 2030 to modernize vital grid infrastructure in response to escalating energy demands while improving resilience against severe weather events.
Pedro Azagra, CEO of Avangrid, emphasized the urgency of modernizing the energy infrastructure, stating, “We are moving aggressively to invest in this critical energy need now.” The upgrades at the Sodus substation will nearly triple its capacity and implement advanced technologies such as improved gas-insulated switchgear and an enhanced control system. This modernization will enable RG&E to monitor and operate the substation remotely, leading to more efficient operations and faster response times during outages.
Local officials, including New York State Senator Pam Helming and Assemblyman Brian Manktelow, expressed their support for the project, underscoring its importance for regional economic growth and its alignment with New York’s goals for transitioning to all-electric systems. The previous substation was in operation since 1966, and the upgraded facility features an updated transformer that will significantly boost service reliability.
Projected for completion by Spring 2025, this project exemplifies RG&E's dedication to addressing aging infrastructure and ensuring the electrical grid is equipped to meet future challenges and demands. For more information, visit RG&E's website at www.rge.com.
MWN-AI** Analysis
Avangrid's recent $23 million investment in a new substation by its subsidiary Rochester Gas and Electric (RG&E) highlights a significant commitment to enhancing the energy infrastructure in New York, particularly in the Sodus area. This investment is a component of the company’s broader strategy, channeling over $7 billion towards modern grid enhancements by 2030, aimed at increasing reliability, resilience, and capacity to meet growing energy demands.
Investing in infrastructure modernization is a critical market trend, as it positions companies like Avangrid to benefit from long-term growth prospects, especially with increasing regulatory requirements for renewable energy and electrical reliability. The upgraded Sodus substation will more than triple its capacity, supporting over 3,300 customers while also accommodating future energy needs, particularly as New York shifts towards all-electric solutions.
In terms of market advice, investors should weigh Avangrid's ongoing commitment to sustainability and infrastructural strength. The state’s push for green energy and the need for robust infrastructure presents a strategic alignment with Avangrid’s goals, which can translate into competitive advantages. Furthermore, these investments serve to mitigate risks associated with severe weather, which have affected many utilities.
Given Avangrid's reputation as a leading sustainable energy entity and its consistent placement among the top utilities for ethical practices, this adds a layer of stability and trust—a desirable quality for investors seeking long-term engagements. As the company's portfolio expands and as it successfully integrates advanced technologies for energy management, the potential for returns improves.
In summary, Avangrid's proactive investment strategy represents a robust opportunity for long-term investment, particularly for those interested in sustainable energy infrastructure. Monitoring the execution of these projects and emerging regulatory frameworks will be crucial for gauging the company's performance and market dynamics moving forward.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Part of Avangrid’s more than $7 billion in investments in New York through 2030 to rebuild substations, transmission lines, to improve resiliency and increase capacity to meet the state’s growing energy demands
Avangrid subsidiary, Rochester Gas and Electric (RG&E) today announced the completion of upgrades on a new substation in Sodus, New York that will increase reliability and capacity for more than 3,300 residential and commercial customers in Sodus and the surrounding area. The $23 million investment is part of Avangrid and RG&E’s more than $7 billion statewide secured investments through 2030, adding to its current rate base in New York of $8 billion, to modernize critical grid infrastructure projects to meet the growing energy demands of homes and businesses and protect the community against severe weather threats.
“With the need to upgrade and modernize our nation’s energy infrastructure, we are moving aggressively to invest in this critical energy need now,” said Pedro Azagra, CEO of Avangrid. “With these investments locally and statewide, we are delivering on our commitment to rebuild a strong, more reliable grid for our communities.”
“This substation modernization project and related improvements almost triple the capacity of the station for customers in the Sodus area,” said Ricardo Cortes, unit manager for RG&E Substation Projects. “This will improve reliability and resiliency of the area transmission and distribution system, ensuring that the safe and reliable distribution of power is maintained for many years to come.”
“This infrastructure investment by RG&E is critical to the future economic growth of Wayne County and our region,” said New York State Senator Pam Helming. “As New York State continues to mandate conversions to all-electric, these upgrades will help meet the area’s growing energy demands while also improving reliability and resiliency for existing customers.”
“I would like to applaud RG&E for taking the initiative to upgrade the Sodus substation,” said New York Assemblyman Brian Manktelow. “It is truly a great step forward in ensuring that it will be well-equipped to handle the growing demand from the 3,300 customers it serves. Local investments like this are what’s going to help the state meet our green energy goals.”
The original substation and switchgear control house at 10 Green Street had been in place since 1966. The new substation and control house was built at the corner of Green Street and Belden Avenue. A new, more efficient transformer replaced the outdated version. The new control house building contains state-of-the-art gas-insulated switch gear technology and an updated control system. These upgrades provide increased reliability with fewer outages.
“The Village of Sodus is happy to have had the opportunity to work with RG&E to help remove blighted property from our community and to improve our region’s massive infrastructure,” said Village of Sodus Mayor Dan Ingersoll. “RG&E has fulfilled the Village’s requests for a site plan that visually enhances the area.”
The cost of the project was $23.1 million, which includes the capability to convert the existing voltage from 4kV circuits to 12kV. This will help meet the community’s growing energy demands. The modernization allows the Company to remotely monitor and operate the substation 24/7, enhancing electric operations and energy delivery capability, reducing crew response time, and allowing for faster restoration during an outage.
This project, which is scheduled for completion in Spring 2025, is part of RG&E’s investments to address aging infrastructure and improve the overall resiliency of the energy grid, meeting today’s challenges to better prepare for those of tomorrow.
About RG&E: Rochester Gas and Electric Corporation (RG&E) is a subsidiary of Avangrid, Inc. Established in 1848, RG&E operates approximately 8,800 miles of electric distribution lines and 1,100 miles of electric transmission lines. It also operates approximately 10,600 miles of natural gas distribution pipelines and 105 miles of gas transmission pipelines. It serves approximately 378,500 electricity customers and 313,000 natural gas customers in a nine-county region in New York surrounding the City of Rochester. For more information, visit www.rge.com .
About Avangrid: Avangrid, Inc. aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $47 billion in assets and operations in 24 U.S. states, Avangrid has two primary lines of business: networks and renewables. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, Avangrid owns and operates a portfolio of renewable energy generation facilities across the United States. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital as one of the JUST 100 companies – a ranking of America’s best corporate citizens – in 2024 for the fourth consecutive year. In 2024, Avangrid ranked first among utilities and 12 overall. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2024 for the sixth consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20250130277426/en/
Media Contact:
Alexis Arnold
alexis.arnold@avangrid.com
585.953.3159
FAQ**
How does Avangrid Inc. AGR plan to allocate its $7 billion statewide investment in New York to ensure effective upgrades for grid resiliency and capacity by 2030?
What specific technologies are being utilized in the new substation built by Avangrid Inc. AGR to enhance reliability and reduce outages in the Sodus region?
In what ways will Avangrid Inc. AGR's $23 million investment in the Sodus substation contribute to meeting New York State's green energy goals amidst the mandated conversions to all-electric systems?
Can you explain how the upgrades at RG&E's new substation will impact future economic growth in Wayne County and benefit the 3,300 customers served by Avangrid Inc. AGR?
**MWN-AI FAQ is based on asking OpenAI questions about Avangrid Inc. (NYSE: AGR).
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