MINNEAPOLIS, Minn., Sept. 13, 2002 — Great River Energy, a wholesale electric cooperative, recently signed a letter of intent with TRANSLink Development Co., indicating its interest in exploring possible combined electric transmission operations with TRANSLink Transmission Co.
Great River Energy of Elk River, Minn., provides electrical energy and services to 29 distribution cooperatives in Minnesota and Wisconsin. The organization, which is Minnesota’s second largest electric utility, owns more than 4,400 miles of transmission line. TRANSLink Development manages start-up activities for TRANSLink, an independent transmission company that plans to operate a large regional electric transmission system.
“We’re delighted that Great River Energy is interested in joining the other TRANSLink participants,” said Audrey Zibelman, vice president of transmission for Xcel Energy and chief executive officer of TRANSLink Development. “Combining and standardizing our separate operations into a company focused on transmission will allow us to continue to ensure that the electric transmission grid is operated and developed to deliver reliable, cost effective electricity to regional customers.”
Will Kaul, vice president of transmission for Great River Energy, said, “We think TRANSLink offers Great River Energy the best opportunity to maintain the high reliability our member cooperatives have come to expect from us while keeping our costs down. To that end, we look forward to working with the other utility participants on the further development of TRANSlink.”
TRANSLink is proposed by Alliant Energy, Madison, Wis.; Corn Belt Power Cooperative, Humboldt, Iowa; MidAmerican Energy Co., Des Moines, Iowa; Nebraska Public Power District, Columbus, Neb.; Omaha Public Power District, Omaha, Neb.; and Xcel Energy, Minneapolis.
The utilities plan to participate in TRANSLink through a combination of divestiture, leases and operating agreements.
TRANSLink has received conditional approval from the Federal Energy Regulatory Commission to operate as an independent transmission company in the regions it serves. TRANSLink will oversee approximately 30,000 miles of transmission lines linking generators producing 35,000 megawatts of electricity. The company will be the transmission network provider to entities with approximately 6.9 million customers in 14 states, making it one of the largest transmission companies in the nation.
More information about Great River Energy is available at www.greatriverenergy.com.
For more information about TRANSLink, please visit its Web site at: www.translinktc.com.
More information about the TRANSLink partners is available at the following Internet addresses:
* Alliant Energy Corp. (NYSE:LNT – News), www.alliantenergy.com
* Corn Belt Power Cooperative, www.cbpower.com
* MidAmerican Energy Co., www.midamericanenergy.com
* Nebraska Public Power District, www.nppd.com
* Omaha Public Power District, www.oppd.com
* Xcel Energy Inc. (NYSE:XEL – News), www.xcelenergy.com
Source: Great River Energy