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New ownership deal on controversial $1.2B Oregon transmission line

·2 min read
New ownership deal on controversial $1.2B Oregon transmission line
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Backers of a $1.2 billion transmission line in northeastern Oregon say a new agreement on ownership of the line — and other transmission assets in the region — will help get the controversial project built. Under the non-binding deal announced Wednesday, the Bonneville Power Administration will transfer its 24% ownership interest in the Boardman to Hemingway line to Idaho Power, giving the investor-owned utility (NYSE: IDA) a 45% stake. Portland-based PacifiCorp, a Berkshire Hathaway company, will retain the 55% portion it has held during the permitting phase of the long-sought project.