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LS Power Purchases Wyoming-Colorado Intertie

LS Power Purchases Wyoming-Colorado Intertie

April 28, 2009

LS Power announced today the closing of its purchase of the rights to the Wyoming-Colorado Intertie Project. The Wyoming-Colorado Intertie Project consists of a proposed 850 megawatt (MW) transmission line extending approximately 180 miles between Laramie River Station Substation located at Wheatland, Wyoming, and Pawnee Substation located at Brush, Colorado. The Wyoming-Colorado Intertie Project will provide a transmission path to deliver high capacity-factor wind energy from Wyoming to load centers in Colorado. The Wyoming-Colorado Intertie Project is a public/private development partnership involving the Wyoming Infrastructure Authority and the Western Area Power Administration.

In August 2008, the Wyoming-Colorado Intertie announced the completion of its open season, which resulted in subscriptions for 585 MW of the capacity of the Project. The remaining unsold capacity, 265 MW, is now being made available on an application basis in conformity with the WCI Open Access Transmission Tariff that is posted on the www.WCIntertie.com. In March 2009, Wyoming-Colorado Intertie filed its open season results and tariff for approval by the Federal Energy Regulatory Commission.

Acquisition of the Wyoming Colorado Intertie represents another significant expansion of LS Power’s transmission development platform, which is being pursued to support the delivery of new renewable energy resources throughout the U.S. Subsidiaries of LS Power Transmission, LLC are advancing the development of the following high-voltage transmission projects:

  • Cross Texas Transmission, LLC has been designated as a transmission service provider in Texas to develop, build, own and operate approximately $400 million of 345 kV transmission facilities to support renewable energy as part of the Texas Competitive Renewable Energy Zone process, for Texas to meet its “Goal for Renewable Energy”.
  • The Southwest Intertie Project is the most advanced independent transmission project in the U.S., and will enable a path for renewable energy to be delivered from the Midpoint hub in Idaho to load serving entities in Southern Nevada and the desert Southwest.
  • The Overland Intertie Project will deliver wind energy from Wyoming to the Midpoint hub in Idaho, for delivery to the south on the Southwest Intertie Project, or to the west on other planned transmission at the Midpoint hub.

Paul Thessen, President of LS Power Development, LLC said, “Expansion into the transmission sector of the electric power industry is a major focus within LS Power due to the need to expand the transmission system in the U.S. to deliver renewable resources located in remote areas to load and to improve system reliability and efficiency. The Wyoming-Colorado Intertie is being driven by the strong need to deliver high-capacity factor wind from Wyoming to customers in Colorado. We are excited about the opportunity to build on the work done so far on the project, and we look forward to working with the Wyoming Infrastructure Authority and the other project participants to make it a reality.”

LS Power is a power generation and transmission group with a proven track record of successful development activities, operations management and commercial execution. LS Power has been involved in the development, construction, or operations of over 20,000 MW of power generation throughout the United States. LS Power is actively developing both power generation and transmission infrastructure to serve the need for new generation and improve the aging transmission system. Highly regarded in the financial community, LS Power has raised over $11 billion in debt and equity since 2005. For more information, see: lspower.wpengine.com

Created in 2004 by the State of Wyoming, the WIA’s mission is to diversify and expand the state’s economy through improvements in Wyoming’s electric transmission infrastructure to facilitate the consumption of Wyoming energy. The Authority can participate in planning, financing, constructing, developing, acquiring, maintaining and operating electric transmission facilities and their supporting infrastructure. Legislation provided the WIA with bonding authority, and other powers, to promote transmission development in the state and throughout the region. It also provided the State Treasurer, with the approval of the State Loan and Investment Board, the authority to invest in WIA bonds.

Western Area Power Administration annually markets and transmits more than 10,000 megawatts of clean, renewable power from hydroelectric power plants owned and operated by the Bureau of Reclamation and the U.S. Army Corps of Engineers in 15 western and central states. It is part of the Department of Energy. Western operates transmission lines that currently link Colorado and Wyoming.

Media inquiries contact:
Lawrence Willick
Senior Vice President
LS Power Development, LLC
(636) 532-2200 lwillick@lspower.com

ABOUT LS POWER:

Founded in 1990, LS Power is a premier development, investment, and operating company focused on the North American power and energy infrastructure sector, with leading platforms across generation, transmission and energy transition solutions. Since inception, LS Power has developed or acquired 47,000 MW of power generation, including utility-scale solar, wind, hydro, battery energy storage, and natural gas-fired facilities. Additionally, LS Power Grid has built 780+ miles of high-voltage transmission, with 350+ miles and multiple grid infrastructure projects currently under construction or development. LS Power actively invests in and scales businesses that are accelerating the energy transition, including electric vehicle charging, demand response, microgrids, renewable fuels and waste-to-energy platforms. Over the years, LS Power has raised $54 billion in debt and equity capital to support North American infrastructure. For information, please visit www.LSPower.com.