SOO Green HVDC Link

Name

SOO Green HVDC Link

Legal name

SOO Green HVDC Link ProjectCo, LLC

Website

https://soogreen.com

Company type

Private

Founded year

2020

Operating status

Operating

Ownership category

akta.pro rank

Product category

HVDC Power Transmission Infrastructure

NAICS

Electric Power Transmission, Control, and Distribution (22112), Power and Communication Line and Related Structures Construction (237130), Electric Power Generation, Transmission and Distribution (2211)

SIC

Electric Services (4911), Electrical Work (1731), Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

HVDC Transmission Systems & Converter Stations (EUADAAAE)

akta.pro secondary industries

HVDC Cables & Overhead Lines (Subsea, Underground, Overhead) (EUADAMAB), High-Voltage & High-Power Conversion (HVDC supplies, traction/rail converters, large rectifiers) (IMAGADAH), HVDC Converter Stations & HVDC Transmission EPC (EUAEABAD)

Keywords

• HVDC transmission
• Underground power cable
• Renewable energy delivery
• Interregional transmission infrastructure
• VSC converter stations

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Transmission Capacity Rights: Revenue generated by selling transmission capacity rights to energy shippers (generators, power marketers) who use the 2,100 MW HVDC line to transmit electricity from MISO to PJM markets. The Open Solicitation process allocates capacity rights through a phased auction mechanism.
2. Wholesale Energy Transmission: Revenue from delivering lower-cost electricity from Iowa/Midwest generators to Eastern markets, reducing wholesale rates and capacity charges for PJM customers including ComEd and Ameren ratepayers.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

The SOO Green HVDC Link is a 350-mile underground high-voltage direct current (HVDC) transmission line connecting MISO and PJM electricity markets across Iowa and Illinois. It is a privately financed $2.5 billion infrastructure project that delivers 2,100 MW of renewable energy capacity through VSC converter stations, transporting power underground along existing railroad rights-of-way.

Product overview

SOO Green HVDC Link is a single unified infrastructure project — a 350-mile underground HVDC transmission line. The project uses 525 kV extruded cross-link polyethylene (XLPE) insulated cables installed in railroad rights-of-way, with Voltage Sourced Converter (VSC) stations at either end to convert AC to DC and back. There are no separate modular products; the transmission line itself is the complete offering, delivering renewable energy capacity between the MISO and PJM regional markets.

Differentiator

Problem solved

Functional benefit

Products and services

• SOO Green HVDC Link Transmission Service

Quantifiable outcome

• 2,100 MW of transmission capacity connecting MISO and PJM markets
• +6 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Six partnerships are on record, tiered core and major.

• Jingoli PowercoreStrategic or Co-development Partner · 27 September 2021Jingoli Power is a co-sponsor, project developer, and the project's general contractor. CEO Karl Miller leads construction efforts on this landmark transmission project.
• Canadian Pacific Railway (CPKC)coreStrategic or Co-development Partner · 5 August 2020Strategic partnership with Canadian Pacific (now CPKC) for co-locating the transmission line within existing railroad right-of-way. Project has secured land rights for nearly the entire 350-mile route within the railroad corridor.
• London Economics International (LEI)majorImplementation/ SI/ Consulting Partner · 5 August 2020Acts as Independent Evaluator to administer the Open Solicitation process for allocating transmission capacity rights on behalf of SOO Green.
• Direct Connect Development CompanycoreImplementation/ SI/ Consulting PartnerMinneapolis-based project developer of SOO Green HVDC Link. Led by CEO Trey Ward, Direct Connect began the pre-filing process with Iowa Utilities Board and continues to advance project development.
• MortensonmajorImplementation/ SI/ Consulting PartnerImplementation partner for construction of the SOO Green HVDC Link project. Brings construction expertise to the transmission line development.
• Prysmian GroupmajorImplementation/ SI/ Consulting PartnerAwarded $900M contract for HVDC cable supply. Provides extruded cross-link polyethylene (XLPE) insulated cables for the 350-mile underground transmission line.

Scale indicators17 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• National Grid: Large utility with operational HVDC interconnectors (e.g., Neptune Cable) and growing U.S. transmission development; represents the broad-incumbent utility model integrating HVDC into regulated rate base.
• ITC Holdings: U.S. transmission-only utility operating high-voltage lines across multiple states; a comparable incumbent in FERC-regulated transmission ownership and a potential acquirer of independent projects like SOO Green at COD.
• Hitachi Energy: Global leader in HVDC technology (acquired ABB Grid), supplying converter stations for most U.S. HVDC projects; serves as the principal HVDC technology alternative to Siemens Energy for projects like SOO Green.

Others

• Prysmian Group: Awarded the $900M HVDC cable supply contract for SOO Green and a leading global supplier of XLPE HVDC submarine and underground cable systems — comparable as an enabling technology vendor rather than a competitor.
• Mortenson: Construction partner supporting SOO Green's build-out and a major EPC contractor in the renewable energy and transmission sectors; comparable as an enabling implementation partner rather than a competitor.
• Siemens Energy: Supplier of the VSC converter stations for SOO Green and a project equity sponsor; also a competing HVDC technology vendor globally — a hybrid partner/competitor with deep HVDC domain expertise.
• PPL Corporation: Equity sponsor in SOO Green and a publicly traded utility with deep transmission development expertise through its PPL Electric Utilities subsidiary; comparable as a regulated utility pursuing transmission growth.

Direct peers

• Anbaric: Transmission developer focused on delivering offshore wind and renewable energy via HVDC submarine and underground cables in the Northeast U.S., directly comparable in technology and use case to SOO Green's renewable energy delivery model.
• LS Power: Independent power and transmission developer developing the Cross-Tie HVDC transmission line and other interregional transmission projects; competes head-to-head for shipper capacity between U.S. ISO/RTO markets.
• Transmission Developers Inc. (TDI) / Champlain Hudson Power Express: Developer of the Champlain Hudson Power Express, a 339-mile underground HVDC transmission line delivering Canadian hydropower into NYC — nearly identical use case, technology (VSC HVDC), and underground linear-asset model to SOO Green.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SOO Green HVDC Link