MDU Resources Intends to Help Develop Green Power Express Transmission Project
Jul 7, 2009 - Business Wire
MDU Resources Group, Inc. (NYSE:MDU) announced today that it intends to participate with ITC Holdings Corp. in developing the Green Power Express transmission project, which would transport renewable energy from wind-rich Plains states to major metropolitan markets.
The transmission project would enable development of the enormous wind energy potential in North Dakota, South Dakota and Iowa, which currently is severely limited by the lack of transmission capacity. The Green Power Express would be the first high-voltage line that is intended to provide transmission to markets for wind developers in these areas. It would run approximately 3,000 miles through North Dakota, South Dakota, Iowa, Wisconsin, Minnesota, Illinois and Indiana.
"We are excited to be part of this groundbreaking transmission project," said Terry D. Hildestad, president and CEO of MDU Resources. "This region has some of the best wind resources in the United States - North Dakota has been called the Saudi Arabia of wind - and this transmission project will make development of that renewable energy feasible.
"The Green Power Express can play a major role in helping the country fulfill its goals of making wind power a significant part of our electricity supply, and reducing carbon emissions," Hildestad said. "The project also would provide a significant boost to the economies of North Dakota and neighboring states."
The Green Power Express would be a highly efficient, extra-high-voltage 765 kilovolt transmission line, capable of transporting 12,000 megawatts of electricity. It would consist of three interconnected loops in North and South Dakota, Minnesota and Iowa, with extensions from these loops into Wisconsin, Illinois and Indiana. The transmission line would interconnect with existing lower-voltage transmission facilities, similar to on- and off-ramps on an interstate highway.
"The Green Power Express is a good fit with our existing diversified businesses, which include electricity generation and delivery, as well as construction and maintenance of electric transmission and distribution facilities," Hildestad said. "The next step is to negotiate definitive agreements with ITC and other potential partners. We are confident that ITC will be an outstanding partner. They have focused solely on the development and operation of electricity transmission, and they have a strong track record of successfully operating existing transmission facilities."
MDU Resources Group, Inc., a Fortune 500 company and a member of the S&P MidCap 400 index, provides value-added natural resource products and related services that are essential to energy and transportation infrastructure, operating in three core lines of business: energy, utility resources and construction materials. MDU Resources includes natural gas and oil production, natural gas pipelines and energy services, electric and natural gas utilities, construction services, and construction materials and contracting. For more information about MDU Resources, see the company's Web site at www.mdu.com.