Shashank Sane, EVP for Transmission at Invenergy, discusses the importance of transmission in the energy transition and the challenges and opportunities it poses. They explore the need for updated infrastructure to connect renewable energy plants and the resiliency of the US power grid. The shift to distributed power production and the regulation of transmission projects are also discussed, along with the value of an interconnected grid and the need for federal policy to drive it.
Increasing transmission capacity by over 50% by 2035 is crucial to accommodate renewable energy growth and ensure reliable grid operations.
The development of large-scale interstate transmission projects is essential for effectively connecting renewable energy sources with end consumers.
Collaboration with stakeholders and support from federal policies are necessary to address challenges and accelerate the expansion of transmission infrastructure.
Deep dives
The importance of transmission infrastructure in the energy transition
Transmission infrastructure is crucial for the energy transition and grid resilience. It allows for the transportation of renewable energy from where it is generated to where it is needed. While the current transmission infrastructure has been built over the course of a century, the Department of Energy estimates that the US needs to increase its transmission capacity by over 50% by 2035. This increase is necessary to accommodate the growth of renewable energy projects, such as wind and solar farms, and to ensure reliable and resilient grid operations. The focus is now shifting towards developing large-scale interstate transmission projects that can effectively connect renewable energy sources with end consumers. The development of these projects involves collaboration with various stakeholders, including state regulators, landowners, and local communities. By investing in and expanding transmission infrastructure, we can unlock the full potential of renewable energy and support the transition to a low-carbon future.
Shashank Sane's journey into the transmission industry
Shashank Sane, the Executive Vice President of Transmission at Invenergy, has a background in investment banking and a long-standing fascination with the energy industry. His interest in the sector led him to join Invenergy, a leading renewable power generation company with a focus on large-scale infrastructure projects. Initially involved in the financial and operational aspects of the company, Sane eventually moved into the transmission business. In his current role, he is responsible for developing transmission lines that connect renewable energy projects to the grid. This shift allowed him to witness the tangible impact of his work and see projects come to life. Sane's journey exemplifies the multi-faceted nature of the energy industry and the importance of bridging finance, policy, and operations to drive the energy transition.
Understanding the role of transmission in renewable energy projects
Transmission lines play a crucial role in transporting energy generated by renewable sources, such as wind and solar, to areas where it is needed. In the case of projects like the Grain Belt Express, a major transmission line connecting Western Kansas to Illinois, Missouri, and Indiana, it enables access to high-quality renewable resources that would otherwise be underutilized. The increased capacity of transmission lines, like the Grain Belt Express, allows for the development of large-scale wind and solar projects, creating more opportunities for renewable energy generation. Moreover, these transmission lines serve as a reliability backbone for the grid, ensuring energy can be shared and provided more efficiently across different regions. By acknowledging the value and benefits of interregional transmission infrastructure, we can further drive the growth of renewable energy projects and enhance grid resilience.
Challenges and opportunities in transmission project development
The development of transmission projects faces various challenges, including permitting, stakeholder engagement, and coordination among different jurisdictions. The citing and approval process requires extensive collaboration with local communities, landowners, state regulators, and other stakeholders. Project developers strive to address the concerns of local stakeholders, minimize land impacts, and demonstrate the benefits of transmission projects, such as improved grid reliability and access to renewable energy. The support of federal policies and regulations is crucial in promoting the development of interregional transmission infrastructure. Greater recognition of the value and importance of such projects is needed, along with updated rules and incentives to accelerate their construction. Despite the challenges, recent progress, including state approvals for projects like the Grain Belt Express, signals a positive momentum in expanding transmission infrastructure and fostering the energy transition.
The need for a national electric grid
While significant progress has been made in the development of transmission infrastructure, there is a need for a national electric grid that can effectively integrate renewable energy resources and enhance grid resilience. The current fragmented grid, consisting of regional power systems, poses challenges for interregional energy transfer and coordination. A national grid would facilitate the sharing of excess energy between regions, optimize renewable energy utilization, and improve overall grid stability. This requires federal policies that recognize the value of interregional transmission and promote investment in these projects. By prioritizing the development of a national grid, we can overcome existing barriers and accelerate the transition to a more sustainable and resilient energy system.
Shashank Sane is the Executive Vice President for Transmission at Invenergy.
Invenergy is North America's largest, privately held renewable power generation company. They have developed more than 200 power generation projects around the world and are responsible for more than 31 gigawatts of power on four continents, with the majority of that being renewable energy projects, including wind and solar.
In his role as EVP of Transmission, Shashank is responsible for the company's efforts to create connectivity between solar and wind farms and end customers, and he's particularly focused on large-scale interstate transmission projects. Transmission is a topic that climate and energy experts will say is critically important. Our transmission infrastructure in the US has been built over more than a century. And yet, the Department of Energy recently estimated that the US needs to increase our transmission capacity by over 50% by the year 2035. That's a monumental jump. We're grateful to Shashank for volunteering to come on the pod and talk with us about transmission, how it works, why it's needed, and how projects get done.
In this episode, we cover:
[02:22]: Shashank's journey to Invenergy
[04:46]: His early experience at the company, Invenergy Edge, and acquiring Grain Belt Express
[08:11]: Shashank's experience at Lehman Brothers in 2008
[10:05]: Overview of Invenergy's approach to developing projects
[13:51]: Definition of "transmission"
[22:21]: Why more transmission is needed to enable renewable growth
[26:40]: Transmission issues in the U.S. and the need to improve grid resilience
[35:04]: The lack of federal oversight of the national grid
[37:02]: Modifying the Grain Belt Express project to better serve Missouri
[46:49]: Other major transmission projects Invenergy is developing
[48:24]: Working with community and landowners before routing transmission lines
[52:23]: The need to recognize the value of inter-regional transmission
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Episode recorded on Oct 16, 2023 (Published on Dec 4, 2023)
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