Novi, Mich.-based ITC Holdings Corp. has entered into an agreement with MDU Resources Group Inc. to participate in ITC's Green Power Express transmission project.
The Green Power Express transmission network project is expected to provide grid access for many of the highest efficiency wind farms in the Upper Midwest and traverse portions of North Dakota, South Dakota, Minnesota, Iowa, Wisconsin, Illinois and Indiana.
It will ultimately include approximately 3,000 miles of extra-high-voltage 765 kV transmission and will connect with existing 765 kV lines in Illinois and Indiana.
The project is expected to facilitate the flow of up to 12,000 MW of renewable power to the Midwest and Mid-Atlantic regions of the U.S. It is currently estimated to cost approximately $10 billion to 12 billion.
Under the terms of the agreement, MDU, headquartered in Bismarck, N.D., has expressed its interest in investing in Green Power Express LP, the entity that was formed by ITC to develop the Green Power Express project. MDU will collaborate with ITC on development efforts and securing the approvals needed to move the project forward. Green Power Express will operate as an independent transmission company.
‘We are pleased with both this agreement and the opportunity it establishes to work with MDU Resources Group on the design and development of the Green Power Express project,’ says Edward M. Rahill, president of ITC Grid Development LLC. ‘MDU's insight into the wind power infrastructure needs in North and South Dakota will be invaluable as we continue to advance the development of the Green Power Express.
ITC will continue to pursue Green Power Express partnership discussions and finalize definitive partnership agreements with MDU and other strategic entities, including local utilities.
SOURCE: ITC Holdings Corp.