Siemens produced the first batch of its new 75-meter B75 Quantum rotor blades. Xcel Energy awarded Outland Energy Services a long-term contract to provide operations and...
Canadian Solar sold two solar power plants totaling 4.4 MW to PSEG Solar Source . The plants have a 20-year offtake agreement with PG&E. Collectively called the PSEG Shasta Solar Farm, the two arrays are built at an elevation exceeding 3,300 feet between Mount Lassen and Mount Shasta in northern California. Construction started in July 2013, with commercial operation expected in early 2014. Blue Oak Energy is providing turnkey EPC services to complete the projects and will provide operations and maintenance services after completion.
TransCanada reached an agreement to sell Cancarb Ltd. and its related power generation facility to Tokai Carbon for $190 million. The transaction is expected to close late in the first quarter of 2014, subject to various approvals. Cancarb produces thermal carbon black, a specialized form of carbon derived from super-heated natural gas, which is used in a wide range of industrial and automotive products. The Cancarb power plant captures waste heat from carbon black production, augmented with natural gas to produce 41 MW of capacity.
Allete Clean Energy finalized the purchase of wind farms in Minnesota, Iowa, and Oregon from AES. Allete acquired the operating wind energy projects for $27 million, and all three wind farms, totaling 231 MW, have power purchase agreements (PPA) in place for their entire electric output. Allete also signed in November an option agreement to acquire a fourth wind farm from AES in mid-2015. Pursuant to that option agreement, Allete will have an option to acquire the 101-MW Armenia Mountain (Penn.) wind farm. That project became operational in 2009 and sells power under two long-term PPAs.
Integrys Energy Group agreed to sell 100 percent of the stock of Michigan utility Upper Peninsula Power Co. (UPPCO) to infrastructure equity investment fund Balfour Beatty Infrastructure Partners LP for $298.8 million. The deal includes UPPCO's electricity distribution operations, excluding its American Transmission Co. holdings.
Alterra Power sold half of its 51-percent interest in the Dokie 1 wind farm to Fiera Axium Western Energy. Alterra received initial sales proceeds of $28.625 million and could receive further earn-out payments of up to $2.25 million over the next three years depending on asset performance. Alterra will retain 25.5-percent ownership of Dokie 1, and will continue to operate and manage the project.
South Carolina Electric & Gas (SCE&G) and Santee Cooper established an agreement for SCE&G to acquire from Santee Cooper a 5-percent ownership interest in the two new nuclear units currently under construction at V.C. Summer Station in Jenkinsville, S.C. The transaction - which would become effective on the units' completion - increases SCE&G's total stake to 60 percent of the new nuclear units and reduces Santee Cooper's to 40 percent. The purchase price is expected to be approximately $500 million for the entire 5-percent interest based on current project cost. The agreement also provides that Santee Cooper won't transfer any of its remaining ownership interest in the two new units until both units have been completed. The transaction is subject to customary closing conditions, including receipt of necessary regulatory approvals.
Arizona Public Service completed its