2023-2024 Transmission Planning Process Approved Project Sponsor for the New Humboldt 500 kV Substation, with a 500/115 kV transformer, and 500 kV line to Collinsville [HVDC operated as AC] and New Humboldt to Fern Road 500KV Line Projects

The California ISO selected Viridon as the approved project sponsor to finance, construct, own, operate and maintain both the New Humboldt 500 kV Substation, with a 500/115 kV transformer, and 500 kV line to Collinsville [HVDC operated as AC] Project and the New Humboldt to Fern Road 500 kV Transmission Line Projects.

The ISO noted in the 2023-2024 Transmission Plan that “due to the inherent uncertainty with the development of new technologies such as floating offshore wind off the California coast, the ISO will be taking additional steps to balance the need to engage promptly on long lead time transmission with the need to remain in step with the numerous other parallel development paths needed to enable offshore wind to develop. The ISO is committed to both seeking to prudently manage expenditures that could be the subject of cost recovery processes, as well as providing industry transparency on the pace of transmission development activities and associated cost exposure. Accordingly, the approved project sponsor will be required to provide non-confidential cost tracking information and anticipated major cost commitment decision points through the project development cycle, which the ISO would approve.” The ISO will provide further communication on these issues as the arrangements with Viridon coalesce to ensure the necessary transparency and flexibility is reflected in the project development path moving forward.

The CAISO conducted a comparative analysis of three qualified project sponsors and their three applications.  The analysis included assessing the degree that each project sponsor met the selection factors under the CAISO tariff section 24.5.4 and the qualification criteria under the CAISO tariff section 24.5.3.1.

Per the CAISO tariff section 24.5.5: Within 10 Business Days after selecting an Approved Project Sponsor(s) for a needed transmission solution, the CAISO will post on the CAISO website report(s) regarding the selection of the Approved Project Sponsor(s).

The selection report concluding the competitive solicitation process for this project is available on the 2023-2024 Transmission Planning Process webpage.