Wind Energy Transmission Texas LLC (WETT) has announced that a loan worth over $500 million has been executed with a consortium of financial institutions. The financing will be used to construct five 345 kV substations and approximately 378 miles of 345 kV transmission lines in West Texas.
Isolux Ingenieria USA LLC has been selected by WETT as the engineering, procurement and construction contractor. The new facilities and transmission lines are expected to bring wind energy from West Texas to the major metropolitan areas throughout the state.
WETT was originally awarded a contract by the Public Utility Commission of Texas to construct, operate and maintain high-voltage transmission lines in 12 West Texas counties as part of the Texas Legislature's Competitive Renewable Energy Zone project. The completion date for this contract is 2013.
Construction activities will begin next month. The facilities are on schedule for completion in the second quarter of 2013.