Redevelopment to increase electrical power capacity, providing more access to lower-cost, consistent and lower-carbon energy for Long Island

Argo Infrastructure Partners, LP (“Argo”), an established mid-market investment manager of 18 essential infrastructure assets in North America, today announced that Cross-Sound Cable Company, LLC is initiating a project to significantly upgrade and expand its electric transmission system – Cross-Sound Cable (CSC), a critical high-voltage direct current (HVDC) transmission system connecting the electric grids of New England and Long Island.

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Jason Zibarras, Founder and Managing Partner, Argo

CSC is an established 24-mile submarine transmission cable with 330 megawatts of bi-directional capacity linking the ISO New England electric grid with New York ISO’s Zone K, with HVDC converter stations located in New Haven, Connecticut and Shoreham, New York. CSC has operated reliably for more than twenty years, including over a decade under Argo’s management. CSC’s current capacity is 100% contracted to Long Island Power Authority and at times provides ~7% of the electricity needed by Long Island electrical power users.

As part of its planned redevelopment, Argo has initiated a targeted process to select a transmission redevelopment partner for CSC. Marathon Capital has been engaged to support this process, which is focused on identifying a partner with experience in transmission development alongside infrastructure capital to support a comprehensive modernization and expansion. The contemplated initiative aims to enhance resiliency and reliability and bring significant incremental transmission capacity. CSC is ideally situated to support the U.S. Department of Energy and the Federal Energy Regulatory Commission’s stated goal of expanding inter-regional transmission.

Argo’s experience in managing critical transmission systems includes Hudson Transmission, a 660 MW interconnection between the PJM grid and the NY ISO (Zone J) grid in New York City, and Smoky Mountain Transmission, a ~90 mile system of transmission supporting ~400 MW of hydroelectric power in NC and TN, linking into the transmission systems of both TVA and Duke Energy.

“Cross-Sound Cable is a critical interregional transmission platform, regulated by NY’s PUC, that delivers reliability, cost benefits and, for Long Island, access to cleaner energy resources,” said Jason Zibarras, Founder and Managing Partner of Argo. “Argo has managed CSC since 2015, and we see a compelling opportunity to partner with an experienced transmission developer to collaborate on the modernization and growth of the system.”

“With an established footprint and asset base, experienced operational team and proven track record, CSC is uniquely placed to serve as a foundational component of a broader Northeast transmission network, supporting reliability, economic growth and energy resource flexibility,” stated Michael Madia, Managing Director of Argo.

Argo expects that the redevelopment of CSC will support regional workforce development and specialized construction activity during modernization and upgrade phases, while strengthening long-term energy security for customers.

About Cross-Sound Cable Company

Cross-Sound Cable Company, LLC is a high-voltage electrical transmission company providing 330 MWs of electrical transmission capacity to customers via the Cross-Sound Cable. The Cross-Sound Cable is a high-voltage direct current light system manufactured by ABB Power Technologies and operated by CSC Operations, LLC. It is a 24-mile (39 km) long submarine cable buried in Long Island Sound that connects the electric transmission grids of New England and Long Island, NY.

About Argo Infrastructure Partners

Argo Infrastructure Partners LP, founded by Jason Zibarras, is an independent fund manager with a long-term approach to infrastructure investing. Argo has invested in 18 high-quality infrastructure businesses and assets that provide essential services to their communities over their long operational lives, including investments in utilities, renewable energy, digital infrastructure, and other long-duration infrastructure assets. Argo’s investment philosophy couples sound investment return with responsible and sustainable investing. As of December 2025, Argo manages approximately $7.5 billion in assets on behalf of its investors. For more information, visit www.argoip.com.

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