ITC Holdings Creates New Subsidiaries
ITC Holdings has formed two new subsidiaries. ITC Grid Development was established to focus on bringing much needed improvements to the nation's electricity transmission infrastructure by partnering with entities in regions where significant investment is needed to improve reliability and address local energy needs.
“Through its subsidiary ITC Transmission, ITC Holdings has invested more than US$300 million since 2003 toward improving reliability, reducing congestion and lowering the overall cost of delivered energy in southeastern Michigan,” said Joseph L. Welch, president and CEO of ITC Holdings.
The first region in which ITC Grid Development will focus its efforts is the Great Plains region, specifically Kansas, through the formation of a subsidiary named ITC Great Plains. This subsidiary will address the need to increase cross-state transmission capacity among other issues.
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