Calendar of Events

Sep 08, 2014 to Sep 10, 2014 | Chicago, IL
Sep 29, 2014 to Oct 03, 2014 | Michigan State University, Lansing MI
Oct 01, 2014 to Oct 03, 2014 | Washington, DC

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M&A News

 
 
 

TC PipeLines Buys Into U.S., Canadian Gas Capacity

TC PipeLines (TCP) (the Partnership) entered into agreements to acquire an additional 45 percent interest in each of Gas Transmission Northwest LLC (GTN) and Bison Pipeline LLC (Bison) from TransCanada Corporation for an aggregate purchase price of $1.05 billion. The GTN pipeline system transports Western Canadian and Rocky Mountain natural gas for large utilities, producers and marketers in Washington, Oregon, Nevada and California.

Duke-American Transmission Buys Stake in 84-mile California Transmission Line

Duke-American Transmission completed its previously announced purchase from Atlantic Power of 72 percent of the capacity of Path 15—an 84-mile, 500-kV transmission line in central California that connects the state’s northern and southern transmission grids. Pacific Gas & Electric owns 18 percent of the line's capacity through its ownership and operation of the connecting Los Banos and Gates substations.

ITC Shareholders Approve Entergy Acquisition

ITC Holdings shareholders approved the proposed acquisition of Entergy’s transmission business. The transaction is expected to close by the end of 2013, subject to regulatory approvals and closing conditions. 

Atlantic Power Sells Florida Facilities to Quantum

Atlantic Power closed on its previously announced sale of interests in three Florida projects—Auburndale, Lake Cogen, and Pasco Cogen—to Quantum Utility Generation, a Houston-based generation company owned by Quantum Energy Partners and Canada Pension Plan Investment Board.

SDG&E Signs Five Solar and Wind PPAs

San Diego Gas & Electric (SDG&E) signed five new renewable power purchase agreements for a total of nearly 62 MW of solar and wind energy. Two of these contracts, for a total of 27 MW, will be located in San Diego County.

Dynegy to Acquire Ameren Energy Resources

Dynegy subsidiary Illinois Power Holdings agreed to acquire Ameren Energy Resources and its subsidiaries Ameren Energy Generating, AmerenEnergy Resources Generating, and Ameren Energy Marketing. Upon closing, Dynegy will own more than 8,000 MW of generating capacity in Illinois, and nearly 14,000 MW nationally. The AER retail and marketing businesses and the following plants are included in the transaction: Duck Creek, Coffeen, E.D.

SRP Acquires Half of Sempra Gas-Fired Plant

Sempra U.S. Gas & Power sold one 625-MW block of its 1,250-MW Mesquite gas-fired power plant to Salt River Project (SRP) for $371 million. In addition to 100-percent ownership of the 625-MW power block, SRP gained a 50-percent undivided interest in plant facilities. Sempra retains ownership of the power plant’s remaining 625-MW power block and 50-percent interest in the plant facilities. As part of the transaction, Salt River Project will become the operator of the Mesquite facility.

Dominion to Build PV Project in Georgia

Dominion acquired a solar energy development project from Smart Energy Capital and Jacoby Development. The Azalea facility, planned near Augusta in east-central Georgia, is expected to produce approximately 7.7 MW (AC) using photovoltaic technology. Dominion plans to select a contractor and oversee the construction of the project, which is expected to sell power to Cobb Electric Membership Corp. under a 25-year agreement, starting in December 2013.

ClearEdge Acquires UTC Power

ClearEdge Power, a manufacturer of scalable, distributed power systems, has closed on its acquisition of UTC Power, the fuel-cell production subsidiary of United Technologies Corp.

FairPoint Acquires Retail Accounts from PNE

FairPoint Energy purchased residential and small commercial customer accounts from PNE Energy Supply, an electricity provider for customers in New Hampshire, and will soon begin serving the acquired customer accounts. FairPoint Energy serves customers in Maine and New Hampshire.

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