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...
ITC Midsouth . The deal is valued at $1.78 billion. The Mississippi filing continues the multi-state and federal regulatory process seeking approval for the transaction announced last year. Entergy proposes to transfer more than 15,800 miles of interconnected transmission lines at voltages of 69 kV and above and the associated substations to ITC. At press time, Entergy also received approval from the PSC and the New Orleans City Council for its plan to join MISO, which would be a precursor to the transmission spinoff.
E.ON Climate & Renewables (EC&R) secured nearly $168 million in equity financing and a commitment to fund nearly $56 million more from a group of investors that includes JPM Capital and Wells Fargo Wind Holdings, in exchange for a partial interest in EC&R’s 203-MW Magic Valley Wind Farm near Raymondville in Willacy County, Texas. The wind farm, with 112 Vestas 1.8-MW turbines, started operating in September 2012. J.P. Morgan acted as lead investor in the financing.
Integrys subsidiary WisconsinPublic Service (WPS) agreed to buy Fox Energy for $440 million—including $390 million for the 593-MW Fox Energy dual-fueled, combined-cycle plant in Kaukauna, Wisc., and $50 million for early termination of an existing tolling agreement between the companies. The transaction is expected to close by April 2013, subject to the approval of project’s creditors and state and federal regulators.
Calpine acquired the 800-MW Bosque Power merchant plant for $432 million in cash plus adjustments. The gas-fired, combined-cycle plant is located in Bosque County in central Texas, and sells power into the ERCOT market.