Schumer says National Grid to use almost $50M in federal funds to upgrade power grid

National Grid (NYSE: NGG) will use nearly $50 million in federal-government funding to “boost the resiliency” of upstate New York’s power grid, as well as the one in Massachusetts.

The utility will also use the money for implementation of clean energy, the office of U.S. Senate Majority Leader Chuck Schumer (D–N.Y.) announced Thursday.

The $49.6 million in funding is from the U.S. Department of Energy’s (DOE) Grid Resilience and Innovation Partnerships (GRIP) program.

The funding award will help New York communities implement new digital technology that improves electric-system resilience and reliability, improving control over electric systems, Schumer explained in a news release. It’ll also help incorporate more clean energy into upstate New York’s power grid.

“We’re excited to deliver The Future Grid Project to deploy innovative technology solutions for our New York customers,” Rudy Wynter, president of National Grid, New York, said in the Schumer release. “This project will not only ensure improved reliability and resilience to our grid, it will [also] enable the connection of more solar and battery-storage resources. It will create good-paying clean energy jobs, while also helping to meet our state’s decarbonization goals. We appreciate this federal support on top of National Grid’s investment, creating a true private-public partnership that will benefit our customers.”

The nearly $50 million in federal funding is in addition to a $90 million investment by National Grid, Schumer’s office noted.