Abengoa - Starwood Energy JV wins transmission concession in California
California Independent System Operator (CAISO) has selected a joint venture between Abengoa and Starwood Energy as the approved sponsor to finance, construct, own, operate and maintain the Delaney to Colorado River 500 kV transmission line project.
Abengoa will undertake the development, construction and maintenance of a 114 mile transmission line between Delaney and Colorado River substations, reinforcing the electrical interconnection between California and Arizona.
Total investment was initially estimated by CAISO at approximately US$300 million.
The project is expected to reach commercial operation in 2020 and will bring significant economic benefits to California rate payers.
Santiago Seage, CEO of Abengoa, stated:
"This new award will help us to accelerate our development in the power transmission market in the United States, where we expect to continue leveraging our global expertise in order to become a significant player in development, engineering, construction and maintenance of large transmission assets.”
With this new award, Abengoa and Starwood Energy strengthen their position in the U.S. power transmission market.
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