GridLiance Acquires Electric Transmission Assets from Electric Energy, Inc.
DALLAS, March 2, 2020 /PRNewswire/ -- GridLiance, an independent electric transmission utility holding company, announced today that its subsidiary, GridLiance Heartland, closed the acquisition of high voltage transmission lines interconnected to the Joppa Generating Station in Illinois from Electric Energy, Inc. (EEI).
"This acquisition furthers GridLiance's mission to be a leading transmission owner and strengthens our strategic positioning in the marketplace," said Calvin Crowder, president and CEO of GridLiance. "The addition of these assets expands our footprint across the country to include the Midcontinent Independent System Operator, Inc. (MISO) Regional Transmission Organization."
GridLiance Heartland acquired six 161-kV transmission lines that cross the Ohio River and related substation infrastructure. In addition, six EEI transmission system operators joined GridLiance to help manage the operation of its newly acquired transmission assets.
"We welcome our newest employees to the team," Crowder said, adding, "We are excited about our future as a transmission operator in MISO and are looking at other opportunities where we can support power generators and transmission owners and improve the reliability and resiliency of the grid."
GridLiance currently owns and operates hundreds of miles of transmission lines and related substation infrastructure with operations in the California Independent System Operator (CAISO), Southwest Power Pool (SPP) and MISO markets.
About GridLiance
GridLiance is an independent electric transmission utility holding company. GridLiance collaborates with rural electric cooperatives, municipal utilities, joint action agencies and others to plan for the future of the grid, invest in necessary electric infrastructure and implement strategies to improve system reliability and resiliency and reduce overall costs to customers. Based in Dallas, GridLiance operates over 600 miles of transmission lines and related substation facilities in Illinois, Missouri, Nevada and Oklahoma. GridLiance is a portfolio company of Blackstone Energy Partners, an affiliate of Blackstone (NYSE: BX), a leading energy infrastructure investor. For more information about GridLiance, visit gridliance.com.
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SOURCE GridLiance
