Investors with deep pockets are putting financial muscle behind new transmission projects to link growing solar and wind generation to urban markets, according to a report in the Wall Street Journal.
Billionaire Philip Anschutz is backing a $9 billion, 3,000-megawatt-wind farm - the nation's largest - along with a massive transmission line that will carry the power from the Colorado - Wyoming border area to Las Vegas for ultimate delivery to southern California.
He is not alone.
"Mr. Anschutz isn’t the only wealthy investor pumping money into power-line projects in an effort to bring green energy to big cities," the article said. "The Ziff family, whose fortune harks back to the glory days of magazine publishing, also is partly funding a green-power project between Oklahoma and Tennessee."
These efforts are notable examples of a rising interest in modernizing America's infrastructure, championed by the Trump administration.
“There is tons of money in the world for infrastructure and this is one way for electric transmission to tap into that,” Edward Krapels, chief executive of Anbaric, a Boston-based infrastructure developer, told the Wall Street Journal.
"In March, Anbaric announced a partnership with the Ontario Teachers’ Pension Plan to provide long-term investments for future transmission projects," the newspaper reported.