Calendar of Events

Nov 24, 2014 | Washington, DC
Dec 08, 2014 to Dec 09, 2014 | Washington, DC
Jan 14, 2015 to Jan 16, 2015 | San Diego, CA

Keywords

Public Utilities Reports

PUR Guide 2012 Fully Updated Version

Available NOW!
PUR Guide

This comprehensive self-study certification course is designed to teach the novice or pro everything they need to understand and succeed in every phase of the public utilities business.

Order Now

M&A News

 
 
 

Southern Company and Turner Renewable Energy Acquire Second California Solar Plant

Southern Company subsidiary Southern Power, in partnership with Turner Renewable Energy, officially acquired of the partnership's second California solar installation. The agreement to acquire the Adobe Solar Facility, a 20- MW solar PV installation in Kern County, Calif., was closed upon successful completion of construction. The facility represents the partnership's sixth solar project and is expected to begin commercial operation in May.

Calpine Agrees to Sell Six Southeast Power Plants for $1.57 Billion

Calpine agreed to sell six power plants in its Southeast region to LS Power for $1.57 billion in cash, subject to working capital and other adjustments. Plants sold include: Oneta Energy Center (1,134 MW), Coweta, OK; Carville Energy Center (501 MW), St. Gabriel, LA; Decatur Energy Center (795 MW), Decatur, AL; Hog Bayou Energy Center (237 MW), Mobile, AL; Santa Rosa Energy Center (225 MW), Pace, Florida; Columbia Energy Center (606 MW), Calhoun County, SC.

Energen to Sell Its Natural Gas Utility to The Laclede Group

Energen signed a definitive stock purchase agreement to sell its natural gas utility business, Alabama Gas Corporation (Alagasco), to The Laclede Group. The value of the transaction is $1.6 billion, subject to customary closing adjustments, and is comprised of $1.28 billion in cash and approximately $320 million of debt. Energen's after-tax proceeds are estimated to be $1.1 billion, after consideration of accelerated intangible drilling costs.

Accenture and Siemens Complete Formation of OMNETRIC Group

Accenture and Siemens completed the formation of a joint venture company called OMNETRIC Group. OMNETRIC Group will bring together Siemens' smart grid products and solutions; Accenture's management and technology consulting, systems integration and managed-services capabilities.

Federal Energy Regulatory Commission Approves Acquisition of UNS Energy by Fortis

The Federal Energy Regulatory Commission (FERC) approved the acquisition of UNS Energy by Fortis, finding the transaction is consistent with the public interest. The ruling is the next step toward finalizing the transaction. UNS Energy shareholders approved the acquisition on March 26, 2014.

Canadian Solar Completes the Sale of Little Creek Solar Power Plant to BluEarth

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.

NRG Acquires Roof Diagnostics Solar (RDS)

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.

A123 Systems Sells Off Energy Storage Division for $100 Million to NEC

A123 Systems signed an agreement with NEC Corporation (NEC) of Japan to divest of 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.

Planned NRG and Edison Mission Energy Merger Receives FERC Approval

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.

NRG Energy Acquires Dominion’s Retail Electric Business

NRG Energy entered into agreements with Dominion Resources to acquire its retail electric business. Once completed, the acquisition will support NRG's ongoing efforts to expand the company's retail footprint in the Northeast and to grow its retail position in Texas.The transaction closed at the end of March.

Pages