Transource and BHE Transmission to Build Nearly 200-Mile 765-kV Transmission Line in Wisconsin

AEP (NYSE:AEP) joint venture Midcontinent Grid Solutions (50/50 between Transource and BHE Transmission) will invest $1.2 billion to build a nearly 200-mile, 765-kV transmission line in Wisconsin following selection by MISO.

Rhea-AI Summary

AEP (NYSE:AEP) joint venture Midcontinent Grid Solutions (50/50 between Transource and BHE Transmission) will invest $1.2 billion to build a nearly 200-mile, 765-kV transmission line in Wisconsin following selection by MISO.

The Bell Center-Columbia–Sugar Creek–IL/WI State Line project aims to enhance reliability, strengthen the grid, and support growing demand inside the MISO footprint using Transource's "Guyed-Y" design to narrow right-of-way needs. A final route is not yet selected and the project targets a 2034 in-service date. Midcontinent Grid Solutions said it will engage landowners, stakeholders, and regulators during siting and outreach.

Positive

• $1.2 billion committed to the Wisconsin 765-kV project
• Nearly 200-mile high-voltage line to strengthen MISO grid reliability
• 50/50 joint venture structure (Midcontinent Grid Solutions) shares execution responsibility
• Use of Guyed-Y design to reduce right-of-way and lower environmental impacts
• Target 2034 in-service date gives a clear schedule goal

Negative

• Final line route has not been selected, introducing siting and approval uncertainty
• Project timeline extends to 2034, implying long development and permitting horizon
• Large infrastructure projects risk landowner and community concerns despite design mitigation

Argus Jan 8 session

+1.96% close to close Open Argus

Details

News Market Reaction – AEP

On Jan 8, the first trading day after this news, AEP closed 1.96% above the previous close.

Data tracked by StockTitan Argus for the Jan 8 session.

Key Figures

Transmission line length: 200 miles Project investment: $1.2 billion Line voltage: 765 kV +5 more

Transmission line length

200 miles

Planned 765-kV line in Wisconsin

Project investment

$1.2 billion

Midcontinent Grid Solutions investment in BECI project

Line voltage

765 kV

Bell Center–Columbia–Sugar Creek–IL/WI State Line project

AEP ownership of Transource

86.5%

Equity stake in Transource Energy, LLC

Evergy ownership of Transource

13.5%

Equity stake in Transource Energy, LLC

AEP 765-kV mileage

2,000 miles

Existing 765-kV lines built and operated by AEP

Relative capacity

600% more energy

Energy a 765-kV line can move vs 345-kV line

Target in-service year

2034

Planned in-service date for Wisconsin 765-kV line

Historical Context

5 past events · Latest: Nov 19

5 events

1. Nov 19

   Plant acquisition approval

   24h Move

   -1.5%

   Regulators cleared I&M’s purchase of the 870 MW Oregon Clean Energy Center.

2. Nov 05

   Strategic partnership

   24h Move

   -0.5%

   Long-term partnership with Quanta to support AEP’s $72 billion capital plan.

3. Oct 29

   Earnings and capital plan

   24h Move

   +6.1%

   3Q25 EPS update and five-year $72 billion plan with higher growth target.

4. Oct 22

   Dividend increase

   24h Move

   -0.1%

   Quarterly dividend raised to $0.95 per share, extending a 115-year streak.

5. Oct 16

   DOE loan guarantee

   24h Move

   -0.8%

   Closed $1.6 billion DOE-backed financing to upgrade 5,000 miles of lines.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

765-kv, midcontinent independent system operator (miso)

2 terms

765-kv technical

"plans to build a nearly 200 mile, 765-kV line in Wisconsin"

A 765-kV line is a very high-voltage electrical transmission line that carries power over long distances; think of it as a multi-lane highway for electricity that moves large amounts of energy with lower losses than smaller lines. For investors, the presence or planned construction of 765-kV infrastructure signals big capital spending, greater transmission capacity and reliability, and regulatory scrutiny that can affect utility costs, project returns and regional power markets.

midcontinent independent system operator (miso) technical

"following selection by the Midcontinent Independent System Operator (MISO)"

Midcontinent Independent System Operator (MISO) is a nonprofit organization that runs the electric grid across a large central U.S. region, coordinating when and where power plants produce electricity and ensuring supply meets demand in real time. Investors care because MISO’s rules, transmission planning and market prices shape how power generators, utilities and renewable projects earn revenue and bear costs—like a traffic controller and toll system for regional electricity that can affect company profitability and project timelines.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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COLUMBUS, Ohio, Jan. 7, 2026 /PRNewswire/ -- A joint venture between Transource Energy, LLC and BHE Transmission plans to build a nearly 200 mile, 765-kV line in Wisconsin following selection by the Midcontinent Independent System Operator (MISO).

This proposal for the Bell Center-Columbia–Sugar Creek–IL/WI State Line 765 kV-Competitive Transmission Project (BECI) was chosen following a thorough evaluation for cost and design, project implementation, operations and maintenance, and transmission planning participation as part of MISO's competitive transmission planning process.

Midcontinent Grid Solutions, a 50/50 joint venture between Transource and BHE Transmission, will make a $1.2 billion investment in this critical infrastructure to enhance reliability, strengthen the grid and support growing energy demand all within the MISO footprint.

"Our nation's power needs are growing rapidly, and MISO has proactively identified the role 765-kV transmission lines can play in efficiently delivering that power to customers. The Transource team is excited to put our unmatched decades of experience in 765-kV transmission line development to work as we build the lines that will provide reliable and affordable power to customers in the MISO region," said Doug Cannon, AEP Transmission president. AEP owns 86.5% of Transource; Evergy owns 13.5%.

"BHE Transmission is pleased to participate in this important transmission project, improving the affordability and reliability of electricity supply in multiple states. While benefiting residential customers, the project will unlock new opportunities for existing and emerging businesses throughout the MISO region," said Ed Rihn, president and CEO, BHE Transmission, which will own 50% of the project. "We look forward to working collaboratively with the MISO, Transource, and valued stakeholders and regulators in Wisconsin to deliver this much needed regional project."

The line will use Transource's innovative "Guyed-Y" line design that narrows the required right-of-way, reducing environmental and landowner impacts associated with the project. This is another example of Transource innovating 765-kV transmission to advance its commitment to environmental respect and to reduce overall project costs for customers.

AEP has built and operates more than 2,000 miles of 765-kV lines, the largest extra-high voltage system in the nation. A single 765-kV line can move 600% more energy than a 345-kV line and uses less than half the total land area needed to deliver the same amount of power.

A final line route has not been selected, and the project schedule is under development to meet a 2034 in-service date. Midcontinent Grid Solutions is committed to keeping potentially impacted landowners and communities informed as the project progresses. This includes information sharing during future project open houses and the opportunity to participate in the siting process. Midcontinent Grid Solutions looks forward to working with local communities and stakeholders to deliver this exciting project to Wisconsin and the broader MISO market.  

About Transource Energy

Transource is a partnership between American Electric Power (Nasdaq: AEP) and Evergy focused on the development and investment in competitive electric transmission projects across the U.S.

AEP owns 86.5% of Transource. Evergy owns 13.5% of Transource. Transource's parent companies combine more than 100 years of expertise in the planning, design, engineering, construction and operation of transmission systems.

About BHE Transmission

BHE Transmission supports an all-of-the-above energy strategy. Our diverse generating portfolio, significant pipeline infrastructure and electric transmission assets ensure we are well-positioned to meet the needs of our customers. Our energy businesses deliver low-cost, safe and reliable service each day to more than 13 million customers and end-users throughout the U.S., Great Britain and Alberta, Canada.

View original content to download multimedia:https://www.prnewswire.com/news-releases/transource-and-bhe-transmission-to-build-nearly-200-mile-765-kv-transmission-line-in-wisconsin-302655739.html

SOURCE Transource Energy

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is AEP's role in the Wisconsin 765-kV project (NYSE:AEP)?

AEP owns 86.5% of Transource and its transmission president announced involvement via the Transource/BHE joint venture that will invest $1.2 billion.

How long and what voltage is the Bell Center-Columbia–Sugar Creek project selected by MISO?

The project is nearly 200 miles long and will be a 765-kV transmission line.

Who owns and will build the transmission line selected by MISO in Wisconsin?

Midcontinent Grid Solutions, a 50/50 joint venture between Transource and BHE Transmission, will build and own the project.

When is the Wisconsin 765-kV line expected to be in service for AEP (NYSE:AEP)?

The project schedule is under development with a target 2034 in-service date.

What design will be used to limit land impacts on the AEP/BHE transmission project?

The line will use Transource's Guyed-Y design, which narrows required right-of-way to reduce environmental and landowner impacts.