FET and AEP subsid form Grid Growth JV for ~$1B PJM transmission lines

FirstEnergy Transmission, LLC

On Feb 13, 2026, FET and American Electric Power's Transource entered amended operating agreement for 50/50 JV Grid Growth Ventures.
Grid Growth awarded ~220 miles of 345kV and 765kV transmission lines between Ohio/Indiana border and central Ohio.
Total project cost estimated at $1.0B; FET's share approx. $490M.
Governance requires unanimous member consent for major actions; lock-up on transfers until Feb 2032 or project in-service.
Grid Growth owns 80% of Grid Growth EHV Holdings and 100% of Grid Growth Ohio.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

FirstEnergy Transmission, LLC amended Grid Growth Operating Agreement with Transource Energy, LLC (effective 2026-02-13).

Action: amendment
Counterparty: Transource Energy, LLC
Effective: 2026-02-13

Exact text from the filing

On February 13, 2026, FirstEnergy Transmission, LLC (“FET”) and Transource Energy, LLC, a subsidiary of American Electric Power Company, Inc. (“Transource”), entered into the Grid Growth Ventures, LLC (“Grid Growth”) Amended and Restated Operating Agreement (“Grid Growth Operating Agreement”), which amended and restated a provisional operating agreement between the Grid Growth members entered into in December 2025.

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Source: SEC EDGAR

accession 0002038118-26-000009

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