NextEra Energy Transmission awarded Minco-Pleasant Valley-Draper transmission line project by SPP

Rhea-AI Summary

NextEra Energy Transmission, a subsidiary of NextEra Energy, has been awarded the Minco-Pleasant Valley-Draper transmission line project by the Southwest Power Pool. This project involves constructing a 48-mile, 345-kilovolt transmission line in Oklahoma, aiming to meet regional economic needs. The project, which represents NextEra's second award from SPP, is expected to be operational by 2024 and aligns with the company's strategy to build a leading competitive transmission network.

Positive

• Awarded the Minco-Pleasant Valley-Draper project, enhancing regional transmission capacity.
• Project aligns with NextEra's strategy to expand high-quality regulated assets.
• Expected operational date of 2024, indicating timely project execution.

Negative

• None.

JUNO BEACH, Fla., April 27, 2022 /PRNewswire/ -- NextEra Energy Transmission, LLC, a subsidiary of NextEra Energy, Inc. (NYSE: NEE), today announced that it has been awarded the Minco-Pleasant Valley-Draper transmission line project by the Southwest Power Pool (SPP).

The SPP Board of Directors approved an industry expert panel (IEP) recommendation for NextEra Energy Transmission Southwest to build the Minco-Pleasant Valley-Draper transmission line project. The IEP evaluated this project through its competitive transmission owner selection process, which is required under the Federal Energy Regulatory Commission's Order No. 1000 for certain transmission projects.

"We are pleased to have been awarded the Minco-Pleasant Valley-Draper project by SPP," said Matt Valle, president of NextEra Energy Transmission. "This project award, our second in SPP, furthers our goal of creating America's leading competitive transmission company and is consistent with our strategy of adding high-quality regulated assets to our portfolio."

NextEra Energy Transmission will construct a new, approximate 48-mile, 345-kilovolt (kV) transmission line that will connect the Minco and Draper substations in Oklahoma to address economic needs in the region. 

The project is expected to be online in 2024.

NextEra Energy Transmission
NextEra Energy Transmission develops, finances, constructs, and maintains transmission assets across the continent. NextEra Energy Transmission operates through its regional subsidiaries to integrate renewable energy and strengthen the electric grid. The company's subsidiaries were among the first non-incumbents to be awarded projects by system operators and utility commissions in California, New York, Texas, and Ontario. NextEra Energy Transmission's portfolio includes operating assets in 10 states, six regional transmission organizations and one Canadian province, with numerous projects under development and construction. To learn more, visit www.NextEraEnergyTransmission.com.

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SOURCE NextEra Energy Transmission, LLC

FAQ

What is the Minco-Pleasant Valley-Draper transmission line project awarded to NEE?

The Minco-Pleasant Valley-Draper project is a 48-mile, 345-kilovolt transmission line awarded to NextEra Energy Transmission by the Southwest Power Pool.

When is the Minco-Pleasant Valley-Draper project expected to be operational?

The project is expected to be online in 2024.

Which company is behind the Minco-Pleasant Valley-Draper transmission line project?

The project is being developed by NextEra Energy Transmission, a subsidiary of NextEra Energy.

What is the significance of the award for NextEra Energy (NEE)?

The award supports NextEra's strategy to create a leading competitive transmission company and adds regulated assets to its portfolio.

What approval process was involved in awarding the Minco-Pleasant Valley-Draper project?

The project was awarded following the Southwest Power Pool's competitive transmission owner selection process, recommended by an industry expert panel.