08:12 AM EDT, 10/18/2024 (MT Newswires) -- Avangrid ( AGR ) said Friday its Central Maine Power unit received $31.8 million in federal funding to advance power grid modernization in Maine.

The grant, awarded through the US Department of Energy's Grid Resilience and Innovation Partnerships program, supports efforts to enhance the grid's capacity for renewable energy integration using technologies like Active Network Management and Dynamic Line Rating.

Avangrid ( AGR ) shares rose 0.5% in recent premarket activity.

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