NV Energy Inc. and Great Basin Transmission LLC, an affiliate of LS Power, have signed a definitive agreement to jointly construct and own a 500 kV transmission line in Nevada.
According to the agreement, NV Energy will own 25% of the One Nevada Transmission Line (ON Line) and purchase Great Basin's share of capacity under a long-term agreement. The agreement is subject to review and final approval by the Public Utilities Commission of Nevada and the Federal Energy Regulatory Commission.
The transmission line will provide access to isolated renewable energy resources in parts of northern and eastern Nevada. Additionally, it will connect NV Energy's northern service area with its service area in southern Nevada, which will enhance overall energy-sharing efficiencies and renewable energy utilization.
Construction of ON Line is planned to begin later this year, resulting in approximately 400 jobs and millions of dollars in sales and use tax and property tax payments for Nevada counties and schools, according to NV Energy.
SOURCE: LS Power