UPDATE 2-Texas grid owners join forces to build wind lines

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HOUSTON, July 24 (Reuters) - Several Texas transmission owners have formed a consortium to build the $5 billion in new power lines to take advantage of the state's abundant wind generation, the companies said in a regulatory filing Thursday.

The consortium, comprised of existing transmission operators, includes Dallas-based Oncor, the state's largest power delivery company, Electric Transmission Texas (ETT), units of American Electric Power Co (AEP.N), the Lower Colorado River Authority Transmission Service Corp (LCRA) and Sharyland Utilities LP.

The filing comes one week after the Texas Public Utility Commission approved a plan calling for construction of 2,400 miles (3,862 km) of high-voltage power lines at a cost exceeding $5 billion. New lines are needed to move electricity from the state's windiest areas in the west to power-hungry cities.

Those new lines, dubbed by Oncor as a "renewable energy superhighway," will accommodate about 18,500 megawatts of wind generation by 2012. Texas currently leads the nation in wind capacity at about 5,500 MW.

"Texas is already a leader in wind energy and this is the next step in maintaining that leadership position," said Charles Jenkins, Oncor senior vice president.

The companies said they joined forces to speed up the selection process so that the new lines can be built in a timely manner.

However, at least a dozen other parties, including new players, also stand ready to invest in Texas' transmission expansion.

They include units of FPL Group (FPL.N), Babcock and Brown (BNB.AX) and ITC Holdings (ITC.N), along with existing electric cooperatives and CenterPoint Energy (CNP.N).