PAHRUMP, Nev. (AP) — A Nevada-based utility company says it has sold its 230-kilovolt transmission system to a Dallas-based operator of transmission systems for just more than $200 million.
The Las Vegas Sun reports Valley Electric Association announced Wednesday it sold the system that includes transmission lines and related substations in Nye and Clark counties to GridLiance.
Transmission lines are typically the larger lines strung on towers and are considered the superhighways of the electrical grid.
Valley Electric, which is based in Pahrump, serves several small communities along the Nevada-California border, including Sandy Valley, Pahrump, Amargosa Valley, Beatty and Fish Lake Valley.
Since Valley Electric's customers are also owners and members of the organization, the company will give some of the cash from the sale to some of its customers.