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GridLiance Holdco, through its unit South Central MCN, agreed to buy the transmission assets of Oklahoma’s Tri-County Electric Cooperative and the city of Nixa, Missouri.
TCEC’s assets include 410 miles of 69 and 115 kV transmission lines and the related substation infrastructure. Nixa’s transmission assets include a 10 mile, 69 kV transmission line between the city of Springfield and the Southwest Power Administration, as well as five substations and related infrastructure.
Upon close, GridLiance will assume full operational responsibility of the transmission assets, including federal, state and regional compliance requirements.
The transaction is subject to federal regulatory approval and is expected to be completed by the end of the year.
The TCEC and Nixa acquisitions are consistent with GridLiance’s strategy to seek opportunities to acquire and operate existing electric transmission lines and related facilities owned by public power utilities, enabling them to focus on their distribution business and other core obligations.