Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

US gives final nod to huge power line from Wyoming to Nevada

Published 04/11/2023, 01:00 PM
Updated 04/11/2023, 04:06 PM
© Reuters.

By Nichola Groom

(Reuters) - U.S. officials on Tuesday gave final approval for a company owned by billionaire Philip Anschutz to begin building a massive transmission line that will deliver wind energy from blustery Wyoming to power-hungry California.

The "notice to proceed" from the U.S. Bureau of Land Management allows TransWest Express LLC to break ground on its $3 billion line after more than 15 years of development. About two-thirds of the project will be on federal lands.

In a statement, the bureau said its approval of the 732-mile TransWest Express line was "a significant milestone in the Biden-Harris administration's efforts to modernize America's power infrastructure in the West and achieve a fully carbon-free electric grid by 2035."

Big high-voltage transmission projects are seen as imperative to delivering large amounts of renewable power from far-flung windy and sunny regions to population centers. But permitting lines across a multi-state patchwork of private and public lands can take years.

A separate Anschutz firm owns the 600-turbine Chokecherry and Sierra Madre wind farm in Wyoming, which is being built, that will send power through TransWest Express.

TransWest Express construction will start later this year and the first stage will be completed in 2027, the company said. The line will run from south central Wyoming, through Colorado, Utah and Nevada to a substation outside of Las Vegas.

© Reuters. FILE PHOTO: A finished wind turbine complex is shown in southern Wyoming on July 21, 2009.  REUTERS/Ed Stoddard

"We appreciate the federal, state and local agencies and all of the other stakeholders who collaborated and diligently worked through the process with us to reach this day," Bill Miller, CEO of TransWest Express LLC, said in a statement.

Anschutz got his start in the oil industry in Wyoming, and also owns stakes in professional sports teams and entertainment venues through his Anschutz Entertainment Group.

 

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.