National Grid (NGG) to work on the Upstate Upgrade Program across New York to modernize the transmission system to meet the expanded electricity needs of the growing economy.
The U.S. unit of Britain's National Grid said on Wednesday it would invest more than $4 billion to improve New York's infrastructure to meet growing demand for more reliable and cleaner energy. The energy firm said the investment program named "Upstate Upgrade", which includes more than 70 projects through 2030, would generate jobs and more than $1 billion in additional economic gains. On one hand, electric vehicles and artificial intelligence are boosting power demand, and on the other, the U.S. power grid, strained by storms, floods and heat waves, is struggling to meet existing needs.
National Grid plans to invest more than $4 billion to transform its energy delivery system and propel economic growth across Upstate New York. Called the Upstate Upgrade, the collection of transmission enhancement projects will deliver a smarter, stronger, cleaner energy grid to support a more resilient energy network for generations to come. The company is embarking on more than 70 projects through 2030 that will generate thousands of new jobs and more than a billion dollars in additional econo