Friday, July 10, 2009

MDU Resources Plans To Join ITC Hldgs On Green-Grid Project

MDU Resources Group Inc. (MDU) plans to be one of several partners in ITC Holdings Corp.'s (ITC) Green Power Express LP project, a 3,000-mile transmission line to connect Midwest wind farms to the U.S. electricity grid.

Energy and climate-change legislation wending its way through Congress is widely expected to spark a building boom in transmission lines to upgrade the nation's aging grid and expand the network's reach to include wind and other renewable generation.

Such a comprehensive overhaul of the grid doesn't come without obstacles, but strong federal backing bodes well for ITC, the nation's only publicly traded stand-alone high-voltage transmission company.

Dow Jones Newswires

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