NextEra Energy and Hawaiian Electric Industries (HEI) announced a definitive agreement under which the companies have agreed to combine. The transaction, which is valued at approximately $4.3 billion, includes the assumption of $1.7 billion in HEI debt and excludes HEI's banking subsidiary.
Entergy subsidiaries, Entergy Arkansas, Entergy Gulf States Louisiana, and Entergy Texas have signed an agreement to acquire the Union Power Station, a highly efficient, natural gas-fired 1,980-MW generating facility. The station is owned by Union Power Partners, an independent power producer, and wholly owned by Entegra TC. The Union Power Station, which entered commercial service in 2003, consists of four combined-cycle gas-fired generating units, or CCGTs, each rated at 495 MW.
ONEOK Partners completed the acquisition of natural gas liquids (NGL) pipelines and related assets from affiliates of Chevron for approximately $800 million. ONEOK Partners now owns an 80 percent interest in the West Texas LPG Pipeline Limited Partnership (West Texas LPG) and 100 percent interest in the Mesquite Pipeline (Mesquite), which collectively consists of approximately 2,600 miles of NGL gathering pipelines extending from the Permian Basin in southeastern New Mexico to East Texas and Mont Belvieu, Texas.
Montana-Dakota Utilities, a division of MDU Resources Group, signed an agreement to purchase a North Dakota wind farm to be developed by ALLETE Clean Energy. The wind project, located near Hettinger, N.D., and comprised of 43 turbines producing 107.5 MW of electricity, is anticipated to be completed in December 2015. The project's cost is approximately $200 million and the purchase is subject to regulatory approvals.
FERC approved the proposed merger of Exelon and Pepco Holdings. The companies announced their proposed merger on April 30. The combination of the companies will bring together Exelon's three electric and gas utilities - BGE, ComEd and PECO - and Pepco Holdings' (PHI's) three electric and gas utilities - Atlantic City Electric, Delmarva Power and Pepco - to create the leading mid-Atlantic electric and gas utility.
Dominion acquired West Antelope Solar Park, a 20-MW solar energy facility, from Canadian Solar with a 20-year PPA in place. With the addition of West Antelope Solar Park, Dominion has 344 MW of solar generating capacity - about 220 MW of which are in California - in development, under construction or in operation across six states. The company's renewable portfolio also includes approximately 850 MW of capacity generated by biomass, water and wind.
Emera will sell its 49% interest in Northeast Wind Partners II (Northeast Wind), to its 51% partner, First Wind Holdings (First Wind) for $223.3 million. Northeast Wind owns and operates a 419-MW portfolio of wind generating assets located in the Northeast United States. Emera acquired its interest in Northeast Wind in 2012. Emera's sale is part of a larger deal which will see 100% of First Wind sold to a third party, and is conditional on that transaction closing.
SunEdison and TerraForm Power signed a definitive agreement to acquire First Wind for $2.4 billion. SunEdison will purchase over 1.6 GW of pipeline and backlog projects, which have been added to TerraForm Power's call right project list and are expected to be operational in 2016-2017. Included in the transaction is an additional 6.4 GW of project development opportunities.
NorthWestern Energy closed on the previously announced $900 million purchase of eleven hydroelectric facilities representing 633 MW of capacity and one storage reservoir from PPL Montana. NorthWestern previously announced the issuance of equity and debt securities to finance the acquisition from PPL Montana.
Calpine completed the acquisition of Fore River Energy Center, a natural gas-fired, combined-cycle power plant located in North Weymouth, Massachusetts. Calpine purchased the 809-MW plant from Exelon for $530 million plus adjustments, or approximately $655 per kW. Built in 2003, the Fore River Energy Center features two combustion turbines, two heat recovery steam generators and one steam turbine.