DOE offers $350MM conditional loan guarantee for 500kV One Nevada transmission line

Source: U.S. Department of Energy

The U.S. Department of Energy announced the offer of a conditional commitment for a $350 million loan guarantee to develop the One Nevada Transmission Line (ON Line), the first transmission line project to be offered a conditional commitment by the Loan Programs Office of the Department of Energy.

ON Line consists of a new 500 kilovolt (kV) AC transmission line that will run 235 miles from Ely, Nevada to just north of Las Vegas, with a new substation located at the northern end of the line. The project will carry approximately 600 megawatts (MW) of electricity, including renewable energy resources in northern Nevada, and will integrate existing transmission systems in northern and southern Nevada, improving grid reliability and efficiency, and reducing power costs. Jonathan Silver, Executive Director of the Department's Loan Programs Office, made the announcement at the groundbreaking in Nevada.

"This is another example of the Recovery Act delivering new jobs and advancing our clean energy goals," said Secretary Chu. "This project will help us tap into the enormous clean energy resources in the West - bringing renewable power from where it is produced to where it is used. This is a win for the economy as well as for the environment."

The ON Line project will be the first phase of the Southwest Intertie Project (SWIP) which, when fully completed, will carry approximately 2,000 MW of electricity and enable wind and solar resources in Wyoming, Idaho and Nevada to power the southwest and California markets. The ON Line project is expected to contract about 85 percent of its parts and labor from U.S.-based companies and will create approximately 400 construction jobs.

The Department of Energy, through the Loan Programs Office, has issued loan guarantees or offered conditional commitments for loan guarantees to support 16 clean energy projects totaling in approximately $16.5 billion.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs