Great Basin Transmission Announces Second Open Season for the Southwest Intertie Project

 

(ST. LOUIS) -- April 15, 2009, LS Power affiliate Great Basin Transmission, LLC (“GBT”) is pleased to

announce a second Open Season for the purchase of long-term point-to-point transmission rights on the Southwest Intertie Project (“SWIP”). Successful bidders in the second Open Season (“Open Season 2”) will secure firm transmission rights to deliver energy to attractive liquid power markets in the West.

 

During the first SWIP Open Season (“Open Season 1”) GBT received proposals for the purchase of

transmission rights in amounts that far exceed the available capacity of the SWIP. However, since the

conclusion of the bidding period for Open Season 1 GBT has received significant additional interest in the purchase of transmission rights. A combination of events has contributed to this expanded interest in SWIP transmission rights including: the entrance of the Obama administration with an emphasis on renewable resources and transmission; the passage of the American Recovery and Reinvestment Act of 2009 with its emphasis on building new renewables and transmission; the continued expressions of need by western states for renewable resources and new transmission; the announcement of open seasons on complementary transmission projects; the announcement of new transmission projects including the Overland Intertie Project; and advancements in the development of renewable projects in relevant locations. Because of the increased level of interest, GBT has determined that it will conduct Open Season 2 in parallel with the Open Season 1. In Open Season 2, GBT will also be accepting proposals for the purchase of transmission rights on the Overland Intertie Project (“Overland Intertie”).

 

The SWIP is an above-ground 500 kilovolt (“kV”) alternating current (“AC”) transmission project stretching over 500 miles between southern Idaho and southern Nevada. By providing a new energy connection between the systems in Idaho and Nevada, the SWIP will provide renewable resources with direct and/or viable access to major load centers and attractive energy markets in Nevada, Arizona, and California. The SWIP can begin construction as early as summer 2009 making it the most advanced high-voltage long-distance transmission project in the Western U.S.

 

The Overland Intertie is an above-ground 560 mile AC or DC transmission project between southern Idaho and eastern Wyoming that is being developed by GBT affiliate Jade Energy Associates, LLC (“JEA”). The Overland Intertie will connect directly to transmission constrained wind generation in eastern Wyoming and transport the energy to Idaho where the Project will connect with the SWIP. Together with the SWIP, the Overland Intertie will take advantage of the diversity provided from some of the best renewable resources in the U.S. including wind, geothermal, and solar resources from Nevada, Idaho and Wyoming.

 

Open Season 1 will continue on its current track and any contracts for firm transmission rights entered into prior to the deadline for receiving proposals in Open Season 2 will decrease the amount of capacity available in Open Season 2. Bidders who have submitted conforming proposals in Open Season 1 and have not entered into contracts by the proposal submission deadline for Open Season 2 will be considered together with the Open Season 2 proposals.

 

GBT will conduct the Open Seasons in a transparent and nondiscriminatory manner. Any entity wishing to secure long-term point-to-point transmission rights on the SWIP and/or Overland Intertie may submit proposals for consideration. To ensure a fair and open process, generation affiliates of GBT will not submit proposals in the Open Seasons. GBT will hold a bidders conference in Las Vegas on May 21, 2009, to provide key information about the Open Season process and the Projects. GBT staff will be available at the conference to answer questions and receive feedback from potential bidders.

 

For more details regarding the SWIP and the second Open Season please visit the dedicated website at: http://www.SWIPOS.com. Any party interested in participating in the Open Season is encouraged to register at the website. Questions may be submitted via e-mail at SWIP@SWIPOS.com.

 

GBT is a single purpose company formed to develop, finance, construct, own, and operate the SWIP. JEA is a single purpose company formed to develop, finance, construct, own, and operate the Overland Intertie. GBT and JEA are both part of the LS Power group of companies. For more information on LS Power please visit http://www.lspower.com.

 

Cautionary Statement Regarding Forward Looking Statements

Some information in this news release may be forward-looking. Implicit in that information are assumptions and expectations which, although considered reasonable by us, may prove to be incorrect. Actual future outcomes and results are subject to a number of risks and uncertainties, and could differ materially from what is currently proposed or planned as described herein. You should not place undue importance on forward-looking information. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time.

 

Media inquiries contact:
Elizabeth Trosper/MassMedia Corporate Communications
(702) 433-4331 or (702)283-2970
Elizabeth@massmediacc.com

 

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