Wall Street Journal | By: Russell Gold | March 10, 2019:
Siemens, Copenhagen Infrastructure Partners to take over $2.5 billion project to transmit wind and solar energy
Siemens AG SIEGY -0.48% is joining with a Danish investment fund to build and operate a 349-mile-long, electrical-transmission line that would carry wind and solar energy from Iowa into the Chicago area, according to the project’s developer.
The link would allow renewable energy from the Upper Midwest to travel all the way into the eastern U.S. by hooking up to the PJM Interconnection, the power grid that serves all or part of 13 states, including Illinois, Ohio and Pennsylvania.
Called the SOO Green Renewable Rail, the project is a giant extension cord designed to carry electricity on buried direct-current lines. The fund, called Copenhagen Infrastructure Partners, and Siemens are purchasing the project from its developers, a group that includes several private investors and the U.S. subsidiary of Canadian Pacific Railway Ltd. CP 0.18% The terms of the deal weren’t disclosed.
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