NOVI, Mich., May 13, 2015 /PRNewswire/
-- ITCTransmission, a wholly-owned subsidiary of ITC Holdings
Corp., the nation's largest independent electricity transmission
company, today announced its Thumb Loop high-voltage transmission
project is complete with the energization of the third and final
phase of the project. ITC invested an estimated $510 million to build the 345,000 volt (345 kV)
line, which serves as the backbone of a system designed to meet the
identified maximum wind energy potential of Michigan's Thumb region. It also will
contribute to regional system reliability and facilitate wholesale
market competition.
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"Conceiving and completing the Thumb Loop project demonstrates
the value of forward-thinking, collaborative planning between the
state and key stakeholders," said Joseph L.
Welch, chairman, president and CEO of ITC Holdings Corp.
"It's a prime example of the effectiveness of ITC's planning
process, which identified the transmission needed to facilitate
Michigan's renewable energy goals
while also strengthening the regional transmission grid. This
project brings an increase in transmission system capacity and
reliability while providing more efficient transmission of
renewable energy. It also created jobs and will have a meaningful
near and long-term impact on the economy of the region and the
entire state."
Governor Rick Snyder cited the
Thumb Loop's benefits to the people of Michigan. "The Thumb Loop has been a good
investment for Michigan. It has
allowed us to expand our agricultural processing abilities and
allowed us to add low-cost renewable energy to our grid and saved
Michigan ratepayers real money. It
is a good example of why we need to evaluate transmission in our
overall planning to ensure an adaptable, affordable, reliable, and
environmentally protective energy future."
"The entire ITC team worked tirelessly to bring the Thumb Loop
into service ahead of the original end-of-2015 target," said
Linda Blair, ITC executive vice
president, chief business unit officer and president, ITC Michigan.
"This effort reflects ITC's ongoing commitment to operational
excellence and focused project management, working in close
cooperation with landowners, communities and alliance partners and
suppliers, many of whom are based in Michigan."
During the construction phase of the Thumb Loop, ITC estimates
the project had a direct impact of $366
million to the Michigan
economy, including employment of local contractors, vendors and
suppliers. The Thumb-area economy benefited from the demand for
supplies and services such as concrete, hardware, fuel, gravel and
trucking, as well as food, lodging and other personal needs for
construction crews.
Studies by the Midcontinent ISO, the regional authority that
oversees transmission for a 15-state area that includes
Michigan, show that Multi-Value
Projects such as the Thumb Loop are anticipated to produce benefits
for customers in Michigan and the
broader region of between two-and-a-half and four times the project
cost.
About the Thumb Loop Project
The Thumb Loop project
consists of approximately 140 miles of double-circuit 345,000 volt
(345 kV) transmission lines and four new substations. It serves as
the "backbone" of a system designed to meet the identified maximum
wind energy potential of the Thumb region and is capable of
supporting a maximum capacity of about 5,000 MW. As an important
link in the high-voltage transmission system in Michigan and the region, it contributes to
reducing congestion, improving system reliability and facilitating
wholesale market competition. Additional lines and facilities will
be needed in the future as wind generators go into service and
connect to the backbone system.
Construction began in 2011, and the project was put into service
in three phases. Phase 1, consisting of 62 miles of lines and two
substations in Tuscola and
Huron counties, went into service
in September 2013. Phase 2 includes
20 miles of lines in St. Clair and
Sanilac counties, the Fitz
Substation in St. Clair County and
upgrades at the Greenwood substation; it was energized in
May 2014. Phase 3, comprising 56
miles of line in Huron and
Sanilac counties and the Banner
substation near Sandusky, went
into service in May 2015. For more
information about the Thumb Loop project, please visit
www.itctransco.com.
Thumb Loop by the Numbers
- Value: Estimated $510
million
- Miles of wire: 1,680 miles, enough to stretch from the Thumb to
Salt Lake City, Utah
- Number of steel monopoles: 789
- Number of steel lattice towers: 32
- Distance between poles: 250 – 1,200 feet
- Average number of poles per mile: 6
- Height of poles: 125 – 180 feet
- Amount of concrete for pole & tower foundations: 62,639
cubic yards (equivalent to 6,264 mixer truckloads)
About ITCTransmission
International Transmission
Company (d/b/a ITCTransmission) is a wholly-owned subsidiary of ITC
Holdings Corp., the nation's largest independent electricity
transmission company. Based in Novi,
Michigan, ITCTransmission owns, operates and maintains
approximately 3,000 circuit miles of transmission line in Southeast
Michigan. For more information, please visit
http://www.itctransco.com.
About ITC Holdings Corp.
ITC Holdings Corp. (NYSE:
ITC) is the nation's largest independent electric transmission
company. Based in Novi, Michigan,
ITC invests in the electric transmission grid to improve
reliability, expand access to markets, lower the overall cost of
delivered energy and allow new generating resources to interconnect
to its transmission systems. Through its regulated operating
subsidiaries ITCTransmission, Michigan Electric Transmission
Company, ITC Midwest and ITC Great Plains, ITC owns and operates
high-voltage transmission facilities in Michigan, Iowa, Minnesota, Illinois, Missouri, Kansas and Oklahoma, serving a combined peak load
exceeding 26,000 megawatts along approximately 15,600 circuit miles
of transmission line. ITC's grid development focus includes growth
through regulated infrastructure investment as well as domestic and
international expansion through merchant and other commercial
development opportunities. For more information, please visit ITC's
website at www.itc-holdings.com (ITC-itc-F).
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SOURCE ITC Holdings Corp.