Abengoa and Starwood win 114-mile transmission line project

Source:Abengoa

Abengoa and Starwood Energy will undertake joint development of a 114 mile transmission line, reinforcing the electrical interconnection between California and Arizona.

Abengoa (MCE: ABG.B/P SM /NASDAQ: ABGB), the company that applies innovative technology solutions for sustainability in the energy and environment sectors, and Starwood Energy, a private investment firm based in Greenwich, CT, have announced that their joint venture has been selected by the California Independent System Operator (CAISO) as the approved sponsor to finance, construct, own, operate and maintain the Delaney to Colorado River 500 kV transmission line project.

Abengoa and Starwood Energy will undertake joint development of a 114 mile transmission line between Delaney and Colorado River substations, reinforcing the electrical interconnection between both California and Arizona. Abengoa will undertake construction, operation and maintenance of the transmission line. Total investment was initially estimated by CAISO at approximately 300 million dollars.

The project is expected to reach commercial operation in 2020 and will bring significant economic benefits to California rate payers.

"This new award will help us to accelerate our development in the power transmission market in the United States, where we expect to continue leveraging our global expertise in order to become a significant player in development, engineering, construction and maintenance of large transmission assets," said Santiago Seage, CEO of Abengoa.

"We are very gratified by CAISO's thorough process, analysis and decision in the selection of our joint venture as the sponsor of this new transmission project," added Himanshu Saxena, Managing Director of Starwood Energy. "This project is a continuation of Starwood Energy's very successful track record of developing essential energy infrastructure projects. We are looking forward to making this project a success for all stakeholders and to helping California meet its ambitious energy objectives."

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

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

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 ...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs