Mich. company's power line would carry wind energy Federal officials back wind energy 'superhighway' proposed by Michigan-based company Saturday April 18, 2009, 3:14 pm EDT Buzz up! Print Related:ITC Holdings Corp. SIOUX FALLS, S.D. (AP) -- The Federal Energy Regulatory Commission has approved incentives that could help a Michigan company build a 3,000-mile transmission "superhighway" to move wind-generated power out of the Midwest.
Related Quotes Symbol Price Change ITC 43.25 +0.29
{"s" : "itc","k" : "c10,l10,p20,t10","o" : "","j" : ""} Novi, Mich.-based ITC Holdings Corp. filed its rate and incentives application in February. FERC recently approved a 12.38 percent return on investment for the project, which is expected to cost $10 billion to $12 billion.
The transmission line would deliver wind-generated power from the Dakotas, Minnesota, Iowa, Wisconsin, Illinois and Indiana to Chicago and points east.
The Green Power Express, as the line is called, would deliver wind-generated electricity to 3.6 million homes.
"We're very pleased with the quick action and a very supportive order," said Joe Dudak, vice president, major contracts and special projects for ITC. "There are several obstacles ahead for us, but this is a great first step."
Next steps include cost allocation and recovery for the project, Dudak said. And because of its broad scope, the Green Power Express will need help with permits, payment and planning across several regional transmission organizations.
"It's important for us to get wind to those consumers. We need export capabilities," said Steve Wegman, director of the South Dakota Wind Energy Association and a former analyst for the South Dakota Public Utilities Commission. "We're not talking about building one or two little wind farms or having a wind tower on every farm -- we're building an industry. And that's huge."
The network could come online by 2020. Six of the seven states where the Green Power Express would traverse are among the top 20 states for wind energy potential, according to the American Wind Energy Association. North Dakota ranks first, with South Dakota fourth.
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