Investment and Economic Development
- The Champlain Hudson Power Express will cost approximately $2 billion to develop. The goal is to be in service by the fall of 2016.
- The $2 billion project represents one of the largest investments in New York State history and will create an average of more than 300 jobs during the 3 ½ year construction period.
- The Champlain Hudson Power Express (CHPE) transmission project will mean thousands of new jobs, millions of dollars in new economic activity for the New York economy and lower energy prices for consumers. Read the study here.
- Since the power is coming from new sources of clean power now under development, the project will not have a negative impact on Upstate power rates.
- Studies by London Economics demonstrate this new line will lower electric rates by approximately $650 million for consumers.
- The Champlain Hudson Power Express project has an active application pending in phase II of the United States Department of Energy's Loan Guarantee Program for transmission projects. This federal incentive supports needed transmission projects and helps spur private sector investment in these projects.
- The Blackstone Group, one of the world's leading investment and advisory firms, is the lead investor in TDI and this project.
