Transmission project for Texas CREZ receives $500mn loan

Wind Energy Transmission Texas LLC (WETT) signed a loan with a group of financial institutions for $500 million to build five 345 kV substations and approximately 378 miles of transmission lines that could carry up to 345 kV in west Texas, benefitting renewable energy developers. The names of the financial institutions were not disclosed.

WETT was awarded a contract by the Public Utility Commission of Texas to build, operate and maintain high-voltage transmission lines as part of the Competitive Renewable Energy Zone (CREZ) project. The contract is expected to be complete in 2013. Construction on the project is scheduled to begin in September.

Isolux Ingeniería USA LLC was selected by WETT as the engineering procurement and construction contractor.

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