NextEra Energy Transmission awarded Wolf Creek-Blackberry transmission line project by SPP

Rhea-AI Summary

NextEra Energy Transmission has been awarded the Wolf Creek-Blackberry transmission line project by the Southwest Power Pool (SPP). This 94-mile, 345-kilovolt line will connect Kansas and Missouri, aiming to address regional economic needs. The project is expected to be operational by January 2025, pending regulatory approvals in both states. This award aligns with NextEra's strategy to expand its portfolio of high-quality regulated assets and establishes the company as a competitive transmission operator in the U.S.

Positive

• Awarded the Wolf Creek-Blackberry project by SPP, enhancing portfolio.
• Project expected to be operational by January 2025, increasing asset value.

Negative

• Regulatory approvals required in Kansas and Missouri may delay project initiation.

JUNO BEACH, Fla., Oct. 27, 2021 /PRNewswire/ -- NextEra Energy Transmission, LLC, a subsidiary of NextEra Energy, Inc. (NYSE: NEE), today announced that it has been awarded the Wolf Creek-Blackberry 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, LLC to build the Wolf Creek-Blackberry project. The IEP evaluated this project through its competitive transmission owner selection process, which is required under the Federal Energy Regulatory Commission's (FERC) Order No. 1000 for certain transmission projects.

"We are pleased to have been awarded the Wolf Creek-Blackberry project by SPP," said Eric Gleason, president of NextEra Energy Transmission. "This project award 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 94-mile, 345-kilovolt transmission line from the Wolf Creek substation in Kansas to the Blackberry substation in Missouri to address economic needs in the region. 

The project requires regulatory approval in both Kansas and Missouri. Assuming timely regulatory approvals, the project is expected to be online in January 2025.

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 and six regional transmission organizations, numerous projects under development and construction in the United States, and a project under construction in Ontario, Canada. To learn more, visit www.NextEraEnergyTransmission.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/nextera-energy-transmission-awarded-wolf-creek-blackberry-transmission-line-project-by-spp-301409361.html

SOURCE NextEra Energy Transmission, LLC

FAQ

What is the Wolf Creek-Blackberry project awarded to NEE?

The Wolf Creek-Blackberry project is a 94-mile, 345-kilovolt transmission line connecting Kansas and Missouri, awarded to NextEra Energy Transmission by SPP.

When is the Wolf Creek-Blackberry project expected to be operational?

Assuming timely regulatory approvals, the project is expected to be operational by January 2025.

What are the implications of the Wolf Creek-Blackberry project for NEE investors?

The project increases NextEra Energy Transmission's portfolio of regulated assets, potentially enhancing long-term value for investors.

Who approved the Wolf Creek-Blackberry project for NEE?

The project was approved by the SPP Board of Directors based on an industry expert panel's recommendation.