Engineering, procurement and construction (EPC) contracts are evolving as utilities seek to spread risks, contain costs, and execute their business strategies. As a result, turnkey contractors are...
construction in 2013 and be completed in 2014. Pattern and Samsung signed power purchase agreements with the Ontario Power Authority (OPA) for the Armow project and three additional wind power projects under development in Ontario. The four wind projects will provide a total of 870 MW. The other three projects in Ontario are the 270-MW South Kent project under development in Chatham-Kent, the 270-MW K2 project in the Township of Ashfield-Colborne-Wawanosh, and 150 MW from the Grand Renewable Energy Park, a wind and solar power project under development in Haldimand County.
NextEra Energy Resources entered an agreement to sell its ownership interest in a portfolio of gas-fired generating assets to an affiliate of LS Power for $1.05 billion, subject to working capital and other adjustments. The transaction includes the 507-MW Blythe Energy Center, located in Blythe, Calif.; the 668-MW Calhoun Energy Center, located in Eastaboga, Ala.; the 98-MW Cherokee Energy Center, located in Gaffney, S.C.; and the 879-MW Doswell Energy Center located in Ashland, Va. A NextEra Energy Resources’ affiliate will continue to operate three of the facilities under service contracts. The transaction is expected to close in the fourth quarter of 2011, pending necessary approvals. NextEra expects the transaction to result in net cash proceeds of approximately $500 million after the repayment of debt and transaction costs, and a taxable gain, which is expected to be largely offset by deferred tax assets. The transaction will also result in a one-time after-tax charge of approximately $97 million, which the company expects to exclude from adjusted earnings.
GE completed its $3.2 billion acquisition of Converteam, a provider of power conversion and automation systems and power electronics, motors and generators. The Converteam purchase completes $11 billion in recent acquisitions by GE Energy, including the acquisition of Dresser, Wellstream Holdings, Lineage Power, Well Support (from John Wood Group), and Converteam.
First Solar received $455.7 million of loan guarantees from the U.S. Export-Import Bank to build power projects in Canada. The company plans to build two plants with a total capacity of 90 MW in southern Ontario. The guarantee is the largest Ex-Im Bank has approved for U.S. solar products shipped abroad. Ex-Im Bank will guarantee a loan of $236.7 million for a 50-MW plant that First Solar is planning in the southern Ontario townships of Amherstburg, Belmont and Walpole, and another loan of $219 million for a 40-MW project in St. Clair. The debt is expected to be repaid over 18 years.
Survalent Technology commissioned a new SCADA system for Jackson Municipal Electric Department, which supplies electricity to more than 4,000 customers in the city of Jackson, Ohio. In addition to a group applications for distribution automation and monitoring, the system also included station controllers and database and graphics for five substations.
Open Systems International (OSI) was selected by Santee Cooper to upgrade and replace its SCADA/EMS system with a new system based on OSI’s monarch (multi-platform open network architecture) platform.
Eastern Nebraska Public Power District Consortium (ENPPDC) , with the support of Boreas Group LLC, selected ABB to implement an advanced smart grid-based