GridLiance High Plains, a Dallas based company with substation operations in Oklahoma announced the closing on a $65 million revolving credit facility with KeyBank, N.A.
The company is a subsidiary of GridLiance Holdco, LP and intends to use the revolver to finance the company’s growth, support capital projects and fund general corporate expenses.
“ This financing will support our growth in new and existing regional transmission markets, as well as current capital projects,” said President and CEO Calvin Crowder. “This is a very important achievement for the company, and I congratulate our CFO Alison Zimlich and the finance team for leading us through this process.”
This year, GridLiance has already announced two transmission asset acquisitions as well as an approximately $40 million capital transmission improvement project in southern Nevada.
GridLiance currently owns and operates approximately 600 miles of transmission lines and related substations nationwide. It partners with electric cooperatives, public power and renewable energy developers. Its transmission lines and related substation facilities are in Oklahoma, Missouri and Nevada. Its partners are in those three states plus Kansas.