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...
and Exelon will support development and operations by selecting the site, obtaining permits, and commissioning the facility. The facility is expected to begin operating in mid-2014. Shaw agreed to provide up to $50.4 million in cash and in-kind services, subject to certain milestones being met, acquiring up to 50 percent of NET Power LLC as the milestones are completed during the four phases of the project. Jefferies & Co. served as sole financial advisor to NET Power on the transaction.
Westinghouse Electric entered a strategic alliance with Curtiss-Wright to jointly pursue and develop opportunities to refurbish large motors for commercial nuclear power applications in North America, and to collaborate on new technology development. The companies have several ongoing business agreements in support of operating nuclear plants around the world and AP1000 units under construction in China and the United States.
Honeywell formed Smart Grid Solutions, a global enterprise intended to centralize the company’s smart grid offerings. Part of Honeywell’s building solutions business unit, Smart Grid Solutions aims to bring the company’s products to market faster, and deliver various technologies and services connecting utilities and their customers together to address grid and energy resource challenges.
OPAL-RT began offering a real-time simulator system to aid in designing and testing new control and protection equipment for distributed energy systems, microgrids, and large interconnected power grids. The ePOWERgrid system is comprised of four modules, including a real-time transient stability simulator for modeling the slow dynamics of large-scale power systems; a real-time simulator for predicting fast electromagnetic transient phenomena on large power grids of 6,000 nodes or more; a real-time simulator for medium-sized grids with multiple VSC converters and FACTS components; and a module intended to simulate fast power converters used in wind farms, microgrids, PV installations, and other distributed energy sources.
A syndicate of investors led by JP Morgan committed to acquire an equity interest in the Chisholm View wind project in Oklahoma for $220 million. The project is owned 51 percent by EFS Chisholm, a GE Capital subsidiary, and 49 percent by Enel Green Power N.A. The JP Morgan syndicate, which also includes Wells Fargo Wind Holdings and MetLife, has an option to purchase 26 percent of EFS Chisholm’s interest in 2012 and 2013.
Echelon introduced a new smart meter, the modular MTR 0600 Series. The meter is aimed at utilities in emerging markets that are seeking to stage their smart grid investments while improving reliability. Echelon says utilities can replace existing meters with the MTR 0600 in stand-alone mode, and later upgrade them in the field with communications and control systems for connecting to the rest of the network. The MTR 0600 serves as both an automated billing device and a grid sensor, and integrates with the utility’s billing and analytics applications.
In a related announcement, Echelon also released new control operating system software for its smart meters and those marketed by its metering partners worldwide. The new software allows upgrading meters in the field to function as multi-parameter grid sensors as well as billing devices. The meters separate billing data from grid power quality data—such