NV Energy, Inc. (NYSE: NVE) is one of Nevada's largest power utilities providing electricity to 2.4 million customers. With its most recent announcement, the company will soon be producing energy for customers outside of Nevada.
In an effort to test the business waters of providing energy for other states, NV Energy launched the Renewable Transmission Initiative (RTI). Under the the RTI, NV Energy is soliciting renewable energy developers to see what the interest is in obtaining transmission service from three designated zones in Nevada to markets outside the state in particular California.
If NV Energy receives substantial response from renewable developers to its initiative, the company believes there may be potential to build new overhead transmission lines in three zones - noth-central, western and southern Nevada. This could mean 570 miles of new transmission lines, including 530 miles connecting a proposed substation in Lassen County, CA to the Eldorado Substation in Clark County, NV, and points in between.
NV Energy has already filed preliminary environmental and permitting applications with the U.S. Bureau of Land Management and the Public Utilities Commission of Nevada in support of its RTI.
The deadline for renewable energy developers and other interested parties to submit Statements of Interest is September 16, 2011.
