The Novi power grid owner ITC Holdings Corp. (NYSE: ITC) Thursday reported net income of $59 million or $1.12 a share in the third quarter ended Sept. 30, up from $51.2 million or 98 cents a share in the third quarter of 2012.
If you see a helicopter hovering near major power lines between now and Halloween, don’t flip out. It’s a normal inspection.
The Thumb Loop project consists of about 140 miles of double-circuit 345,000 volt (345 kV) transmission lines and four new substations. It will serve as the “backbone” of a system designed to meet the identified maximum wind energy potential of the Thumb region and will be capable of supporting a maximum capacity of about 5,000 MW.
Novi-based ITCTransmission, a wholly owned subsidiary of ITC Holdings Corp., the nation’s largest independent electricity transmission company, Friday announced it has selected Iron Mountain-based M.J. Electric LLC, a Quanta Services company (NYSE: PWR), to build the first segment of the Thumb Loop high-voltage transmission line.