GridLiance, an independent transmission company with operations throughout the U.S., and Tri-County Electric Cooperative, Inc. (TCEC) announced that they have signed a settlement agreement with American Electric Power Company (AEP) related to the proposed Wind Catcher Energy Connection project — a planned 2,000-MW wind farm.
The Wind Catcher Energy Connection project is expected to bring about $300 million to local communities in property taxes over the life of the project and provide a cost savings of $7 billion over 25 years for customers. The project is expected to create nearly 4,000 direct and 4,400 indirect jobs annually during construction and 80 permanent jobs once operational.
Under the terms of the settlement, GridLiance’s subsidiary, South Central MCN LLC, will have the option to construct, own, and operate any additional interconnections to the Wind Catcher Energy Connection project located in the Oklahoma Panhandle counties of Cimarron, Texas, and Beaver.
This allows GridLiance to adequately plan and operate its existing transmission system and future interconnections for the benefit of its utility partners, including TCEC. The settlement also preserves TCEC’s right to serve retail electric load in its service area.
“We are pleased to have reached this settlement with AEP,” said Calvin Crowder, President and CEO of GridLiance. “The Panhandle’s economic development depends on a reliable local transmission system that serves multiple needs, and GridLiance remains committed to serving those needs now and in the future.”
In 2015, GridLiance entered into an agreement with TCEC to plan, construct, and operate transmission infrastructure projects and help the cooperative unlock the financial value of its existing transmission assets.
“By partnering with GridLiance on this settlement, we were able to secure the rights to defend the service territory of our retail customers,” said Zac Perkins, CEO of TCEC. “These rights are to last for the life of the Wind Catcher Energy Connection project and will benefit our members over the long term.”
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