A wind and power transmission project, called the largest of its kind in the country, has raised $11 billion in financing, kicking off a year when many utilities are expected to step up much-needed spending on the power grid.

Pattern Energy Group has started construction on its SunZia project, a wind farm in central New Mexico, where more than 900 wind turbines will generate over 3,000 megawatts of clean energy. A 550-mile transmission line will bring the power to some three million people in Arizona and California.