AES will test LineVision's Dynamic Line Rating
technology to increase transmission capacity
ARLINGTON, Va., June 8, 2023
/PRNewswire/ -- The AES Corporation (NYSE: AES) and LineVision,
Inc., today announced the launch of a joint project to assess how
Grid Enhancing Technologies (GETs) may increase transmission
capacity on the existing power grid. Through this pilot, the
companies will gather data using Dynamic Line Ratings (DLR) to
evaluate how LineVision can optimally integrate power from
renewable energy sources. The study is being launched this month
and will conclude before the end of the year.
The project will leverage LineVision's industry leading DLR for
a proposed deployment at an AES utility based on a system study to
determine locations best suited for the most beneficial impact to
the system and customers.
"There are several exciting technologies that can be used to
enhance the capacity of our grid," said Kristina Lund, President, AES
Utilities. "AES looks to lead the industry in deploying
advanced technologies, like DLR, that allow us to deliver safe,
reliable, and affordable energy to our customers as the demands for
increasingly green energy and electrified communities grow."
The advantage of deploying this technology is timely. According
to a Princeton University study, the US
will need to more than double the transmission buildout to meet
2050 net-zero emissions goals.
Utilities are uniquely positioned to accelerate the
decarbonization of our electric grid by increasing transmission
capacity on existing assets to unlock transmission constraints and
relieve grid congestion. AES continues to be a proactive innovator
pursuing new technologies and driving local adoption.
"As we urgently move toward a net-zero future, utilities can
test and bring on new technology to avoid system reliability issues
while integrating record levels of renewables," said Hudson Gilmer, Chief Executive Officer of
LineVision. "GETs are the enabling tool needed to accelerate our
path to a decarbonized grid. We are excited to work with AES on
this important project."
LineVision's DLR technology has been shown to significantly
increase transmission capacity on existing lines quickly and at a
fraction of the cost of traditional transmission upgrades while
doubling the integration of renewable energy capacity on the grid.
This impactful technology will allow grid operators to gain
real-time awareness of the health and performance of transmission
lines, enhancing safety and longevity, while congestion costs to
ratepayers and curtailment costs to developers are minimized.
About AES
The AES Corporation (NYSE: AES) is a Fortune 500 global energy
company accelerating the future of energy. Together with our many
stakeholders, we're improving lives by delivering the greener,
smarter energy solutions the world needs. Our diverse workforce is
committed to continuous innovation and operational excellence,
while partnering with our customers on their strategic energy
transitions and continuing to meet their energy needs today. For
more information, visit www.aes.com.
Safe Harbor Disclosure
This news release contains forward-looking statements within the
meaning of the Securities Act of 1933 and of the Securities
Exchange Act of 1934. Such forward-looking statements include, but
are not limited to, those related to future earnings, growth and
financial and operating performance. Forward-looking statements are
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constitute AES' current expectations based on reasonable
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material assumptions. These assumptions include, but are not
limited to, our expectations regarding accurate projections of
future interest rates, commodity price and foreign currency
pricing, continued normal levels of operating performance and
electricity volume at our distribution companies and operational
performance at our generation businesses consistent with historical
levels, as well as the execution of PPAs, conversion of our backlog
and growth investments at normalized investment levels, rates of
return consistent with prior experience and the COVID-19
pandemic.
Actual results could differ materially from those projected in
our forward-looking statements due to risks, uncertainties and
other factors. Important factors that could affect actual results
are discussed in AES' filings with the Securities and Exchange
Commission (the "SEC"), including, but not limited to, the risks
discussed under Item 1A: "Risk Factors" and Item 7: "Management's
Discussion & Analysis" in AES' 2022 Annual Report on Form 10-K
and in subsequent reports filed with the SEC. Readers are
encouraged to read AES' filings to learn more about the risk
factors associated with AES' business. AES undertakes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except where
required by law.
Any Stockholder who desires a copy of the Company's 2022 Annual
Report on Form 10-K filed March 1,
2023 with the SEC may obtain a copy (excluding the exhibits
thereto) without charge by addressing a request to the Office of
the Corporate Secretary, The AES Corporation, 4300 Wilson
Boulevard, Arlington, Virginia
22203. Exhibits also may be requested, but a charge equal to the
reproduction cost thereof will be made. A copy of the Annual Report
on Form 10-K may be obtained by visiting the Company's website at
www.aes.com.
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About LineVision
LineVision provides electric utilities with the real-time
monitoring and analytics needed to accelerate the net-zero grid.
LineVision's patented non-contact sensors collect critical
information to unlock additional capacity on existing lines,
provide insight into conductor health, and detect anomalies and
risks. LineVision's platform is rapidly deployed at scale without
the need for scheduled outages, live line work, or specialized
installation equipment. LineVision is helping our utility partners
around the world lead the energy transition by increasing the
capacity, resilience, and safety of the grid. For more information,
visit www.LineVisionInc.com, or follow us on Twitter or
LinkedIn.
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SOURCE LineVision, Inc.