Question-and-Answer Session
Operator
Thank you. (Operator Instructions) We'll take our first question from Emily Christy with RBC Capital Markets.
Emily Christy - RBC Capital Markets
A question on the Tres Amigas great connection project, are you talking about having an ownership interest in that project? And is there a timeline at this point for expected earnings?
Jeff Sterba
We are not talking about an ownership in the hub itself. In the hub itself, will just be equipment that will facilitate the transfer between. Our interest will be on the transmission interconnects on either side. We, today, own 1.5 roughly of the 2 major interconnects that exist between the western grid and Southwest Power Pool in the southern part of the country.
This would facilitate even greater flow, not just with them, but then also into ERCOT. So, probably at this stage, we have no interest in the participation. This is also not a near-term project. Even if, I think on a rapid schedule, probably you wouldn't see power flow till 2014, 2015. So this is longer term looking.
Emily Christy - RBC Capital Markets
Okay. And then in terms of the renewable development that you're working on, can you give us a little more color as to the types of discussions you're having? Are they around the type of energy or the ownership structures? What's kind of the point of talk there?
Pat Vincent-Collawn
There's a couple topics that we are talking about. One is the third-party ownership issue is being discussed. And that's more for smaller solar. Our ownership not in so much in the larger solar, but in the smaller solar if you remember. We proposed a [customer-cited] PNM-owned program. We are also discussing the level of renewable energy credits, the length of time of the renewable energy credits and what the renewable cost threshold should be. Those are the major issues that we are discussing with the interveners.
Emily Christy - RBC Capital Markets
If I can just have one more question on the smart grid developments at TNMP. I know that the DOE grant, you weren't on that list. What's the status of that project at this point?
Pat Vincent-Collawn
What we are doing, Emily, is looking at rolling out the smart meters in Texas but over a longer period of time. What the DOE grant would have allowed us to do us is to really jumpstart that program. So we will just be looking at a longer scale deployment schedule.
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