Senate Majority Leader Harry Reid and Energy Secretary Steven Chu last week announced that the federal government would provide a $343 million loan guarantee for the construction of a major electrical transmission line in Nevada.
The line, which will run from Apex to Ely, is a major step forward for the state. Nevada has never had a connection between the electrical grids in the northern and southern parts of the state, and that has cost Nevadans money and hampered development of renewable energy sources.
The ON Line transmission project, which is being built by NV Energy and LS Power, should be operational by 2013. Renewable energy companies have been waiting for a transmission line like this because it will give them a conduit for their power. The line will open up markets in other states, notably Southern California and Arizona.
“This transmission line is a major step toward unlocking Nevada’s vast clean energy potential and creating thousands of jobs that will stay in Nevada and cannot be shipped overseas,” Reid said. “This loan guarantee is exactly the kind of public-private partnership that Nevada and the nation need to help us lead the world in clean energy jobs.”
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