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.