US approves major transmission project in Nevada

(Reuters) - The Biden administration on Monday said it had approved a major transmission line in Nevada that will run hundreds of miles along the state's border with California and be able to provide power to about 5 million homes.

WHY IT'S IMPORTANT

The milestone is the administration's latest effort to speed approval of major clean energy projects as part of its climate change and jobs agendas.

President Joe Biden has a goal to decarbonize the U.S. electricity grid by 2035, a feat that will require massive investments in new transmission to move clean wind and solar energy to population centers.

BY THE NUMBERS

Public utility NV Energy's Greenlink West Transmission project will run for 472 miles from North Las Vegas to Reno, according to U.S. Bureau of Land Management documents.

Once it is built, the line could transmit up to 4 gigawatts of electricity, enough to power about 5 million homes.

NV Energy has said its Greenlink project, which includes Greenlink West and the smaller Greenlink North, will cost about $4.24 billion.

Greenlink North is in the early stages of the federal permitting process.

BLM also said it approved the 700-megawatt Libra Solar project in Mineral County, Nevada, which could provide enough power for 212,000 homes. It will be the largest solar and battery storage project in Nevada once it is constructed.

CONTEXT

Nevada is a key battleground state in the Nov. 5 U.S. presidential election between Democratic Vice President Kamala Harris and Republican former President Donald Trump.



KEY QUOTE

"In Nevada and across the country, our leaps forward to efficiently permit wind, solar, transmission and other clean energy projects are part of a broader strategy to lead the world in the global clean energy race and fight against pollution -- all while protecting our communities and investing in local economies," White House National Climate Advisor Ali Zaidi said in a statement.

Source: Investing.com