Gridliance acquires transmission assets
GridLiance Holdco, LP, through its subsidiary South Central MCN LLC has announced the completion of its acquisition of Tri-County Electric Cooperative’s (TCEC) electric transmission assets, comprising approximately 410 miles of 69 and 115 kV transmission lines and the related substation infrastructure.
GridLiance assumed full operational responsibility of TCEC’s transmission assets, including meeting federal, state and regional compliance requirements.
Additionally, the deal made effective a long-term Co-Development Agreement between the parties, under which GridLiance will represent TCEC and its members’ interests in the planning and development of new transmission projects within the Southwest Power Pool, Inc. (SPP), a Regional Transmission Organization.
Ed Rahill, GridLiance’s President and CEO,said:
“The completion of the TCEC acquisition marks an important milestone for our partnership model to help electric cooperative, municipal and joint action agency utilities solve their decades-long transmission issues”.
“TCEC will immediately benefit from our experience and scale as we assume operations and maintenance (O&M) responsibility for their transmission assets while continuing to use TCEC’s ‘boots on the ground’ for some O&M services. Over the long-term, we can provide TCEC with a clear path to invest in SPP transmission projects that will reduce network congestion, increase service reliability and lower service costs. We are excited to work with Jack and his experienced team at TCEC as we further our mission of ensuring that all customers, regardless of their power provider, enjoy the same level of grid reliability.”
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