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Vendor Neutral

Fortnightly Magazine - February 2012
MidAmerican Energy Holdings acquired a 49-percent stake in the 290-MW Agua Caliente solar PV project in Arizona.

has already started the construction of its first site in the fourth quarter of 2011. This agreement with Hay Solar brings JCM’s total portfolio volume to approximately 155 MW. 

MidAmerican Energy Holdings agreed to acquire the Topaz Solar Farm, a 550-MW photovoltaic (PV) power plant being built in San Luis Obispo County, Calif. from First Solar. First Solar will construct, operate, and maintain the project. Construction began in November 2011 and is expected to be complete by early 2015. Pacific Gas & Electric will purchase the output under a 25-year power purchase agreement.

MidAmerican Energy Holdings also announced it would acquire a 49-percent interest in Agua Caliente , a 290- MW PV project located in Yuma County, Ariz., from NRG Energy . The $1.8 billion project, which is being built by First Solar and expected to be complete by 2014, is supported by a $967 million loan guarantee from the U.S. Department of Energy and a long-term power purchase agreement with Pacific Gas and Electric for all of the project’s generation. The deal is subject to closing conditions, including DOE approval.

GE signed a $300 million contract to supply 13 Frame 7EA gas turbines to Saudi Electricity Co.

ABB agreed to invest approximately $20 million as part of a $35 million financial round, for a substantial minority stake in California-based GreenVolts, a provider of turnkey concentrating PV (CPV) systems. Through the investment ABB gains access to proprietary CPV technology in addition to its current capabilities in solar thermal and conventional PV power plants. 

First Wind obtained $210 million in financing for the company’s subsidiary, Palouse Wind , the owner of the 105-MW Palouse wind project located in northern Whitman County, Wash. As part of the financing, Palouse Wind closed an approximate $170 million construction and term facility loan, and letters of credit of up to $40 million. KeyBank served as the joint lead arranger and administrative agent, and Norddeutsche Landesbank Girozentrale, CoBank ACB, and Banco Santander served as joint lead arrangers. The project will feature 58 Vestas 1.8-MW wind turbines with a generating capacity of about 105 MW of electricity. Avista will purchase the output. First Wind says Palouse will be the first wind project built in Avista’s service territory. It’s expected to be operational before the end of 2012.


Princeton Power Systems (PPS) announced the first planned installation of its bi-directional HVDC transformer. The transformer will function as a power management device, distributing power between two or more remote locations in Alaska when it’s installed in early 2012. The transformer has a power capacity rating of 1 MW and can be installed in parallel for higher power levels. Princeton Power Systems says that with the technology’s ability to function over great distances, the transformer will be useful for sending power over large bodies of water, or rough terrain like that in Alaska.

NRG will install 1,500 solar panels at the MetLife football stadium, home of the New York Jets and Giants.

Long Island Power Authority (LIPA) selected PSEG Long Island to manage LIPA’s electric transmission and distribution system. Under the agreement, PSEG Long Island will be responsible for managing electric T&D operations and customer services, as well as LIPA’s 18-percent ownership of Nine Mile Point 2 nuclear station in upstate New York, and related functions. Lockheed Martin ,