NextEra Energy Transmission Buys Trans Bay Cable

NextEra Energy Transmission, a subsidiary of NextEra Energy, has completed the acquisition of Trans Bay Cable from affiliates of Steelriver Infrastructure Fund North America.

Financial terms of the transaction were not disclosed.

We are pleased to complete this transaction and welcome the TBC employees to the NextEra Energy family,” said Jim Robo, chairman and chief executive officer of NextEra Energy. “This transaction furthers our goal of creating America’s leading competitive transmission company and is consistent with our strategy of adding high-quality regulated assets to our portfolio.”

TBC is a transmission utility that owns a 53-mile high-voltage direct current underwater transmission cable system with utility rates set by the Federal Energy Regulatory Commission and revenues paid by the California Independent System Operator.

The cable system extends from Pittsburg, California, to San Francisco, California, and can provide more than 40% of the electrical power used in San Francisco.

TBC was developed and approved in response to a 1998 blackout in the Bay Area, which demonstrated a need for greater resiliency of the electric grid in that region.

Share this article

Follow Subsea World News

Events>

<< Aug 2019 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

Submarine Networks World 2019

As the key annual gathering for decision makers in the subsea communications value chain, they offer a dedicated platform…

read more >

8th International Conference 2019 Offshore Wind Power Substations

The International Conference Offshore Wind Power Substations is a technical event for experts in the wind industry.

read more >

Wind Turbine Towers

Wind Turbine Towers is a technical event for experts in the wind industry and the goal is to push forward technical development for future tower concepts.

read more >

Seatrade Europe 2019

The three day event will  take place in the hub of the European cruise industry, Hamburg; Germany…

read more >