The Federal Energy Regulatory Commission (FERC) has taken a significant, positive stand in support of renewable energy. On April 13th, 2009, the FERC agreed to give Green Power Express LP, a limited partnership created by ITC Holdings Corporation, federal rate incentives to build 3,000 miles of high voltage power lines. These federal rate incentives will provide favorable financial benefits to investors and will help make the development of the Green Power Express project economically viable. Project expenses incurred can be recovered through an incentive return on common equity of 12.38 percent. 100 percent of the construction will be included in the rate base which incorporates a 60 percent equity and a 40 percent debt structure until the project is placed into service. ITC will work with the Midwest Independent Transmission System Operator (MISO) Inc. along with state and federal governments to develop the project. These 3,000 miles of high voltage power lines will help distribute 12,000 MW of clean renewable wind energy from wind rich areas in the Midwest to metropolitan areas across the country.

The ten to twelve billion dollar Green Power Express project is part of a greater plan envisioned by the Department of Energy and the American Wind Energy Association that strives to have 20% of the nation’s energy come from wind by the year 2030. As current electrical infrastructure cannot adequately support large quantities of wind energy, improvements like the Green Power Express Project will put America in the direction of reaching this bold goal.

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