Trans-Elect Development Company LLC (Trans-Elect) is an independent transmission company that is in the business of developing, owning, and operating electrical transmission systems in collaboration with its equity funding partner, AES-Trans-Elect. AES-Trans-Elect is a wholly-owned subsidiary of the AES Corporation, one of the world's largest energy companies, with operations in 24 countries.

Trans-Elect, headquartered in Bethesda, MD, has specialized in situations where an independent transmission company can play a role in support of, or in partnership with, utility industry stakeholders to remove transmission constraints and/or to tap remote generation resources. Trans-Elect is continuing to build upon its success as the nation's first independent transmission company, which acquired the Michigan Electric Transmission System (METC); AltaLink ( Canada ), and financed a new line in the Path 15 corridor. Trans-Elect's executive management team pioneered independent transmission as founders of Trans-Elect, Inc. and have a successful track record in developing, acquiring, managing, and operating transmission systems throughout North America . The senior management of Trans-Elect is comprised of the following individuals:

• Robert L. Mitchell, Chief Executive Officer ( Bethesda )
  
  
• Paul McCoy , President (Chicago)
  
  
• Martin Walicki, Chief Financial Officer ( Bethesda )
  
  
• Jerry Vaninetti, Vice President Western Development ( Denver )
  

Trans-Elect's executive management team is supplemented with regional experts who have relationships, planning and operating experience, and knowledge of the electrical transmission systems and operations within individual Regional Transmission Organizations (RTOs), Independent System Operators (ISOs) and NERC regions. Former MAIN and WECC chairmen are included in Trans-Elect's management team.

Trans-Elect management's track record of success includes the following:

Michigan Electric Transmission Company (METC) : acquired from Consumers Energy in 2002; 5,400 miles of transmission lines; monetized by investors in 2006;

AltaLink Transmission in Alberta , Canada : acquired from TransAlta in 2002; 7,700 miles of transmission lines; monetized by investors in 2006;

Path 15 in California : Public/Private Partnership with Western Power Administration (WAPA) and PG&E to install a 83 mile-long 500 kV line to eliminate a long-standing congested transmission path between northern and southern California; completed in 2004 for $250 million – under budget and ahead of schedule; monetized by investors in 2006; and

TOT 3 Partnership (In Progress) : A Public/Private Partnership with the Wyoming Infrastructure Authority and WAPA to bring remote generation resources from Wyoming to the Colorado Front Range with feasibility studies underway,

Given the lack of transmission funding over the past decade for a national transmission grid operating at full capacity, there are widespread opportunities for independent transmission development. Trans-Elect will focus on projects where there is a reasonable expectation that the following attributes exist or can be achieved:

• A role for an independent transmission developer;
  
  
• Stakeholder support from industry and public policy, including FERC;
  
  
• Merchant components to utility stakeholder projects;
  
  
• Acceptable risk/reward profile;
  
  
• Commitments for transmission capacity;
  
  
• High utilization of transmission capacity that may sometimes include the integration of renewable and dispatchable generation resources;
  
  
• Collector systems and trunk lines to serve renewable resources;
  
  
• Sequential development, where warranted; and
  
  
• Need to integrate multiple stakeholder interests and agendas.

As such, Trans-Elect is willing to consider participation in a variety of project types and structures, whether they are within or external to an RTO/ISO, or are on a stand-alone basis, or in support of utilities, generators, and public transmission authorities.