Transmission company GridLiance and the US City of Winfield in Kansas have signed a partnership agreement to own and improve transmission facilities.
Under the agreement, GridLiance will acquire a 65% stake in 29 miles of Winfield’s 69kV transmission facilities within five substations and invest in an upgrade.
For the transmission line and terminal equipment, Winfield will continue to perform operations and maintenance field services.
GridLiance president and CEO Calvin Crowder said: “We are delighted to be partnering with the City of Winfield and Kansas Power Pool (KPP) on this acquisition and the transmission upgrades, which support GridLiance’s mission to invest in transmission infrastructure and improve grid reliability.
“This acquisition emphasises our capabilities in working with municipal electric utilities to develop solutions that can address their unique financial, reliability, and transmission operational needs.”
GridLiance said that this is the first transaction developed by the company under a co-development agreement to advance transmission projects for the municipal energy agency Kansas Power Pool (KPP) and member city Winfield.
Winfield Mayor Ron Hutto said: “While we will continue to own a 35% stake in these transmission facilities, GridLiance will provide a partner to share in the significant financial responsibility for future upgrades and operations and maintenance, while providing Winfield with the financial flexibility to invest in transmission upgrades at our option.”
Subject to customary federal and state regulatory approvals, the transaction is expected to close by the year-end.
GridLiance is a portfolio company of Blackstone Energy Partners and works with electric cooperatives, municipal utilities, irrigation districts, and renewable energy developers to invest in electric infrastructure.