ITC, Kansas Utilities Sign Long-Term Co-Development Agreement for Transmission Projects in Kansas
TOPEKA, Kan., Feb. 23, 2012 /PRNewswire/ — ITC Great Plains LLC, Sunflower Electric Power Corp. and Mid-Kansas Electric Company, LLC have expanded their partnership agreement for the development of transmission projects in Kansas.
Under the latest agreement, Sunflower and Mid-Kansas granted ITC Great Plains the exclusive option to build transmission projects that Sunflower and Mid-Kansas elect not to construct. These projects could include major regional transmission projects assigned to Sunflower by the regional transmission organization, the Southwest Power Pool (SPP), as well as local, lower-voltage transmission projects developed by Sunflower. The initial term of the agreement is ten years with ongoing renewal provisions.
This new agreement builds on a similar arrangement the parties reached in 2008 that resulted in Sunflower and Mid-Kansas designating ITC Great Plains to build their portions of the Kansas Electric Transmission Authority (KETA) project and the Kansas V-Plan transmission project, both of which have received full regulatory approvals and are now either under construction or in the preconstruction phase.
“This new agreement further solidifies ITC’s growing presence in the SPP region and builds on our successful and growing relationship with Sunflower and Mid-Kansas by providing opportunities for collaboration on additional transmission projects in the future,” said Joseph L. Welch, chairman, president and CEO of ITC Holdings Corp., parent company of ITC Great Plains. “It is also strong evidence that our partnership approach to transmission development provides exceptional value to utilities and their members along with the regions they serve.”
Sunflower president and CEO Stuart Lowry praised the advantages the new agreement brings to the region.
“Sunflower’s expertise in western Kansas and ITC’s strong track record of successful transmission development at the regional and national levels equal a solid combination,” Lowry said. “I’m confident that this new agreement will result in projects that will serve our members well and will build on the partnership model we have already established with ITC. We look forward to working with ITC on projects that will bring great benefits in system efficiency and reliability for our members and those they serve.”
About ITC Great Plains
ITC Great Plains, LLC is a transmission-only utility which seeks to build a more robust electric transmission system providing access to reliable, non-discriminatory, competitive and low-cost energy throughout the Southwest Power Pool region. Based in Topeka, Kansas, ITC Great Plains holds transmission-only utility status in Kansas and Oklahoma, with authority to construct, own, operate and maintain a regulated, high-voltage transmission system. ITC Great Plains is a subsidiary of ITC Grid Development, LLC, a wholly-owned subsidiary of ITC Holdings Corp., the nation’s largest independent electricity transmission company. For more information, please visit http://www.itctransco.com.
About ITC Holdings Corp.
ITC Holdings Corp. (NYSE: ITC) is the nation’s largest independent electric transmission company. Based in Novi, Michigan, ITC invests in the electric transmission grid to improve reliability, expand access to markets, lower the overall cost of delivered energy and allow new generating resources to interconnect to its transmission systems. ITC’s regulated operating subsidiaries include ITCTransmission, Michigan Electric Transmission Company, ITC Midwest and ITC Great Plains. Through these subsidiaries, ITC owns and operates high-voltage transmission facilities in Michigan, Iowa, Minnesota, Illinois, Missouri and Kansas, serving a combined peak load exceeding 26,000 megawatts along 15,000 circuit miles of transmission line. Through ITC Grid Development and its subsidiaries, the company also focuses on expansion in areas where significant transmission system improvements are needed. For more information, please visit ITC’s website. (itc-ITC)
About Sunflower Electric Power Corporation – Organized in 1957, Sunflower is a member-owned, nonprofit corporation operated cooperatively by six rural electric distribution cooperatives that serve members in central and western Kansas. Sunflower provides wholesale power generated by natural gas, coal, and wind. That power is delivered across a high-voltage transmission network consisting of 69-kV, 115-kV, and 345-kV lines. Sunflower’s members include Lane-Scott Electric Cooperative, Dighton; Prairie Land Electric Cooperative, Norton; Pioneer Electric Cooperative, Ulysses; The Victory Electric Cooperative Association, Dodge City; Western Cooperative Electric Association, WaKeeney; and Wheatland Electric Cooperative, Scott City, Kansas. For more information, please visit www.sunflower.net.
About Mid-Kansas Electric Company, LLC
Mid-Kansas is a coalition of five rural electric cooperatives and one wholly-owned subsidiary that organized themselves for the purpose of acquiring the assets of Aquila’s Kansas Electric Network. Mid-Kansas’ members include Lane-Scott Electric Cooperative, Dighton; Prairie Land Electric Cooperative, Norton; Southern Pioneer Electric Company, Ulysses; The Victory Electric Cooperative Association, Dodge City; Western Cooperative Electric Association, WaKeeney; and Wheatland Electric Cooperative, Scott City, Kansas. For more information, please visit www.midkansaselectric.net.
SOURCE ITC Holdings Corp.