GridLiance said last week its High Plains subsidiary has acquired a 65% ownership stake in the 69-kV transmission system and related substation equipment of the city of Winfield, Kan.
The transaction marks the company’s first co‐ownership of transmission assets with a municipal utility under a development agreement with Kansas Power Pool, a municipal energy agency that provides energy and transmission services to Winfield and 30 other municipalities in Kansas.
“The successful closing of this transaction is an important step in bringing improved transmission reliability to Winfield customers and the region,” GridLiance CEO Calvin Crowder said in a press release. “It is another example of our long‐term commitment to invest in the electric grid and ensure the fair treatment of all transmission consumers.”
The city will retain 35% ownership in the facilities and will be responsible for their maintenance. Winfield will continue to own its electric distribution assets and continue to provide retail electric service in return for a franchise fee and economic development and community support funds from GridLiance. Financial terms of the deal were not announced.
The Dallas-based independent electric utility holding company and Winfield have already begun to relocate transmission lines damaged by years of flooding on the Walnut River. The work is expected to be completed by the end of the year.
“Joining forces with GridLiance will ensure we will continue to [provide reliable electric service] for the long term,” Winfield Mayor Phil Jarvis said. “We are already seeing the benefits of our collaboration with GridLiance.”
The transaction was completed once FERC in late August accepted SPP Tariff revisions adding an annual transmission revenue requirement reflecting GridLiance High Plains’ addition as a joint owner of Winfield’s transmission facilities (ER20-2195).
The acquisition is GridLiance’s second of the year. In February, its gained access to the GridLiance Gains Entry into MISO.)
