Abengoa and BrightSource Energy agreed to jointly develop, build, and operate what the companies say will be the world’s two largest solar power towers. GE began operating a...
Digest (May 2014)
SunEdison YieldCo, a newly formed yieldco vehicle wholly-owned by SunEdison. The initial capitalization of SunEdison YieldCo was financed with a $250 million facility extended by Goldman Sachs Bank USA, acting as sole lead arranger.
NRG Energy entered into agreements with Dominion Resources to acquire its competitive retail electric marketing business. Once completed, the acquisition will support NRG's ongoing efforts to expand the company's competitive retail footprint in the Northeast and to grow its retail position in Texas.The transaction closed at the end of March.
A123 Systems signed an agreement with NEC Corporation (NEC) of Japan to sell off its grid storage business and other assets related to energy storage for telecom and IT data storage applications. NEC acquired the A123 Energy Solutions for approximately $100 million. An agreement on the terms of the deal has been finalized and a new company, NEC Energy Solutions, is slated to begin operation in June 2014 under the direction of NEC. A123's existing cell manufacturing and sales, research and development, and automotive operations will remain the core focus of A123 Systems LLC.
NRG Energy and Edison Mission Energy (EME) jointly announced that the Federal Energy Regulatory Commission (FERC) has approved the sale of substantially all of EME's assets to NRG. The acquisition of EME's portfolio of renewable and conventional generation assets will create the second-largest US power company. EME will add nearly 8,000 MW of generating capacity to the combined company's diverse portfolio of both conventional and wind generation facilities. The transaction closed on April 1, 2014.
NRG Energy acquired Roof Diagnostics Solar (RDS), a residential solar company. Over the next month, the company will begin operating under the brand NRG Residential Solar Solutions. Terms of the transaction are not being disclosed.
Canadian Solar Solutions completed the sale of Little Creek, an 8.5-MW solar power plant valued at over C$53.0 million ($47.95 USD), to a BluEarth Renewables subsidiary (BluEarth). This is the first of four planned solar projects being acquired by BluEarth from Canadian Solar, totaling 38.5 MW. The additional three utility-scale solar power plants being purchased by BluEarth, which are planned to reach commercial operation through Q2 2015, are located in Kawartha Lakes, Belleville and Beaverton, Ontario, Canada. Canadian Solar Solutions will provide turnkey EPC services for all four projects.
The Midcontinent Independent System Operator (MISO) broke ground on a regional operations center in Little Rock, Ark. This action marks the next phase of the integration the entergy system's the four-state electric grid, which now comprises MISO's newly established southern region. Similar to the company's North Region Operations Center, the facility in Little Rock will serve as the command center for MISO's South Region. MISO expects to spend $22 million on its new facility in West Little Rock. The building is scheduled to be completed by the end of 2014.
Mon Power , a subsidiary of FirstEnergy, installed new conductors on a 138-kV transmission line near Morgantown, W.Va., to handle future load growth in the Monongalia County area. The $5 million project includes three phases, with all the work occurring on existing rights-of-way.