COLCHESTER, Vt. — Energy company National Grid in Vermont has committed $20 million to the northern part of the state for hosting transmission lines.
National Grid’s Granite State Power Link plans to carry Canadian wind power to parts of New England. Vermont Public Radio reports the money will be paid out to the Northeastern Vermont Development Association over 40 years.
Association Executive Director David Snedeck says the deal is great news, but is contingent on the project getting up and running.
The money will be used for economic development grants and for the association’s revolving loan fund for businesses.
Granite State Power Link includes a converter station and nearly 53 miles of transmission lines in nine Northeast Kingdom communities.
Information from: WVPS-FM, http://www.vpr.net