U.S. Markets closed

[$$] ‘Extension Cord’ to Carry Green Power From Midwest to East

Two European firms are backing an ambitious $2.5 billion project to carry renewable electricity underground through the American heartland. Siemens AG is joining with a Danish investment fund to build and operate a 349-mile-long, electrical-transmission line that would carry wind and solar energy from Iowa into the Chicago area, according to the project’s developer. The link would allow renewable energy from the Upper Midwest to travel all the way into the eastern U.S. by hooking up to the PJM Interconnection, the power grid that serves all or part of 13 states, including Illinois, Ohio and Pennsylvania.