Linden VFT, LLC (Linden VFT) announced today that it will hold an open solicitation process to sell 315 megawatts of bi‑directional electricity transfer capacity between the New York and PJM electrical grids, with The Brattle Group serving as the Independent Solicitation Manager.
Linden VFT will hold the solicitation in April and May 2022. It will sell 315 megawatts of transmission scheduling rights (TSRs) that will become available on June 1, 2023. The term length of the TSR purchase agreements can be designated by the bidder, with indicative bids due in May.
The TSRs can be used to sell energy and capacity sourced in PJM Interconnection LLC (PJM), the largest centrally dispatched electric grid in the world, into New York Independent System Operator (NYISO) Zone J, which serves the New York metropolitan area. Linden VFT customers can also sell capacity and energy sourced in NYISO into PJM.
The Linden VFT project is located at the intersection of the New York City (NYISO Zone J) and PJM power grids and is capable of transferring 315 megawatts of capacity and energy, enough for up to 315,000 homes. Linden VFT commenced commercial operation in late 2009 and has successfully demonstrated the flexibility to flow power in both directions between the NYISO and PJM power grids.
By visiting www.lindenvftauction.com, interested parties can find an Information Memorandum that describes the open solicitation process for selling the TSRs, the features of the Linden VFT project, and the transmission scheduling rights and their benefits, as well as a calendar for the open solicitation and important announcements.
Any questions can be directed to Brattle, the independent manager of the open solicitation process, at linden‑vft‑email@example.com. Brattle has extensive experience designing, managing, and monitoring procurement and sale processes for energy‑related products and assets for utilities, generation owners, coops/munis, industrials, government agencies, and other energy market participants.