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Trans-Elect, Google Pursuing Up To 6,000 MW Undersea Transmission Line off Mid-Atlantic Coast

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October 13, 2010

Trans-Elect, with sponsors Good Energies, Google, and Marubeni Corporation, is pursuing the development of a 6,000 MW undersea transmission cable that would link Hampton Roads, Virginia with New Jersey, with a connection to the on-shore transmission system in Delaware as well.  

Cost of the 350-mile line, which is not being developed on a merchant basis, is pegged at $5 billion.  

Investors have committed to preliminary development in the following shares: 37.5 percent for Good Energies and Google, 15 percent for Marubeni, and 10 percent for Atlantic Grid Development, a new Trans-Elect subsidiary.  

The initial phase would be limited to Delaware to New Jersey, and is estimated to cost $1.8 billion for 2,000 MW of capacity.

   
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