trending Market Intelligence /marketintelligence/en/news-insights/trending/5Bd0zrwXGsMnsQkz0mJQFg2 content esgSubNav
In This List

Clean Line Energy sells Okla. portion of 700-mile line to NextEra

Blog

Insight Weekly: Recession risk persists; Banks pull back from crypto; 2022 laggard stocks rally

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Insight Weekly: Inflation eases; bank M&A slows; top companies boost market share

Blog

Activity Volumes Across the Equity Capital Markets Dropped Significantly in 2022


Clean Line Energy sells Okla. portion of 700-mile line to NextEra

Private transmission line developer Clean Line Energy Partners on Dec. 22 announced an agreement to sell the Oklahoma portion of its Plains & Eastern Clean Line, a multistate project, to NextEra Energy Resources LLC.

The 700-mile overhead line has been in development for eight years and is expected to move up to 4,000 MW of low-cost wind-generated electricity from the Oklahoma panhandle through Arkansas, where it can supply the Midcontinent ISO region, to a converter station near Memphis, Tenn., where it could be distributed into the southeastern U.S.

NextEra Energy Resources, the renewable development arm of NextEra Energy Inc., will own only the project assets in Oklahoma, while Clean Line will retain the parts east of Oklahoma, Clean Line said in press release. Clean Line also said NextEra owns about 1,700 MW of operating wind capacity in the state.

The project has received all the necessary regulatory and environmental approvals for construction to begin but is still obtaining rights of way, which are agreements with landowners.

Development and construction of the high-voltage, direct-current line is expected to cost $2.5 billion, according to the Clean Line project website. Despite opposition from Arkansas landowners, a route for the project was approved under a record of decision from the U.S. Department of Energy in 2016. The line was also included on a list of President Donald Trump's emergency and national security priorities that was released in January.