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Digest

Fortnightly Magazine - April 2014

partnership with four local first nations - Tataskweyak, Fox Lake, War Lake, and York Factory.

Georgia Power secured approximately $3.46 billion in loan guarantees from the U.S. Department of Energy (DOE) toward the construction of the Plant Vogtle units 3 and 4 nuclear expansion project. The project is the first U.S. nuclear project to receive funding through the DOE program. Along with Georgia Power's portion of the two 1,100-MW reactors, the remaining ownership is split among Oglethorpe Power, the Municipal Electric Authority of Georgia (MEAG Power) and Dalton Utilities. Georgia Power's share of costs is currently projected at approximately $6.8 billion, which includes approximately $2 billion of financing costs to be collected during construction.

NTE Energy plans to develop, own and operate two gas-fired power projects: the Pecan Creek energy center, located near Sweetwater, Texas; and the Kings Mountain combined-cycle plant, near Cleveland County, N.C. Mitsubishi Hitachi Power Systems Americas is providing gas turbines - the M501GAC-FAST combustion turbine in simple-cycle mode at Pecan Creek, and the M501GAC advanced combustion turbine and a Mitsubishi steam turbine in combined-cycle configuration at Kings Mountain. NTE Energy has begun the permitting process at Kings Mountain and submitted its transmission interconnection request to Duke Energy Carolinas . The project is planned to begin construction in 2015 and become fully operational in 2018. At Pecan Creek, NTE Energy has filed permit applications and generation interconnection request with ERCOT. The Pecan Creek project is expected to begin construction in the fourth quarter 2014 and become fully operational in the second quarter 2016.

Transmission

ABB won orders worth around $56 million from Power Grid Corp. of India (POWERGRID), to supply power transformers and shunt reactors for substations being built to support the country's ultrahigh voltage transmission grid development. ABB will supply 14 500-MVA, 765-kV ultrahigh voltage single-phase auto-transformers at greenfield substations being constructed in Kanpur and Varanasi. ABB will also supply 26 units of 80-MVA and 10 units of 110-MVA, 765-kV ultrahigh voltage single-phase shunt reactors for four substations being built in southern and eastern India. The orders were booked in the fourth quarter of 2013 and in the first quarter of 2014.

Siemens Energy completed the EstLink 2 project, a high-voltage direct current (HVDC) link consisting of converter stations in Anttila, Finland, and Püssi, Estonia. Power is now being transmitted by Fingrid, the transmission system operator in Finland and the Estonian transmission system operator Elering. The new joint transmission capacity between the two countries has increased from 350 MW to 1,000 MW. Siemens was responsible for designing the HVDC system as a monopolar connection with metallic return conductor. This turnkey project included delivering, installing, and commissioning the complete HVDC converter stations, excluding the overhead line and power cable in between the stations. Total value of the converter station turnkey project was €100 million - approximately $137 million USD.

M&A

Alterra Power completed its acquisition of the Shannon wind project, a 202-MW wind farm in Clay County, Texas, from Horn Wind . Alterra also placed a $4.5 million cash deposit with Oncor, the project's transmission service provider, which