U.S. Approves First Loan Guarantee for Energy Transmission Project

Skadden is representing NV Energy Inc., in the acquisition of a joint ownership interest in and capacity use arrangements for a Nevada transmission line project, and in connection with a $343 million loan guarantee from the U.S. Department of Energy, announced on February 15, for the project. The project, known as ON Line, will connect power grids in northern and southern Nevada and would be the first transmission project to receive a loan guarantee from the Energy Department.