Duke Energy Corp. said today that it plans to work with American Electric Power to develop a $275 million, 55-mile, extra-high-voltage transmission project with the Tennessee Valley Authority in Indiana and Kentucky.

Duke and AEP have formed a joint venture, Pioneer Transmission, that plans to build a 765-kilovolt transmission line connecting AEP’s Rockport Station east of Evansville, Ind., with TVA’s Paradise Station in Drakesboro, Ky. The project would also include construction of a new 765-kilovolt substation at Paradise.

“This project … has the potential to enhance regional reliability in the Indiana and Kentucky areas for decades to come,” said Phil Grigsby, senior vice president of commercial business for Charlotte-based Duke.

The project needs approval from the Kentucky Public Service Commission. Ownership shares of the project have not been determined.

AEP delivers electricity to more than 5 million customers in 11 states, while Duke serves approximately 4 million customers in five states.

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