Siemens is teaming up with a Danish investment fund, Copenhagen Infrastructure Partners, to build a 349-mile-long (561-km) electrical transmission line worth $2.5 billion that would carry renewable electricity from Iowa to the Chicago area.

The European firms are purchasing the project from its developers which include the U.S. subsidiary of Canadian Pacific Railway, though specific terms of the deal haven’t been disclosed.

The project, called the SOO Green Renewable Rail, is a giant extension cord that will carry electricity on buried direct-current lines through an existing Canadian Pacific railroad corridor. It will be capable of carrying 2,100 megawatts, and developers hope to have it up and running by 2024, pending federal and state approvals.

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