SunEdison completed its acquisition of a 50% ownership stake in Silver Ridge Power (SRP) from a subsidiary of AES for approximately $178.6 million in cash. Through its ownership in the SRP joint venture, SunEdison now owns a 50% interest in 36 MW of solar power plant operating projects, including the 266-MW Mt. Signal solar project in California, and a 40% interest in the Tenaska Imperial Solar Energy Center West 183-MW solar power facility to be completed in 2016.
Dominion acquired the CID Solar Project from EDF Renewable Energy (EDF RE). The asset sale agreement will close upon completion of installation, after which EDF RE will manage the commissioning and place the project in service. CID Solar Project, located on 200 acres of private land in eastern Kings County, California, was developed by EDF RE and is designed as a 27 MWp / 20 MWac ground-mount facility comprised of First Solar Series 3 solar photovoltaic modules with horizontal single-axis trackers.
First Wind finalized four 20-year PPAs with Rocky Mountain Power, a division of PacifiCorp and part of Berkshire Hathaway Energy. As part of the PPAs, Rocky Mountain Power will buy the output of the planned 320-MW Four Brothers solar development, which includes four, separate fully permitted 80-MW project sites. Rocky Mountain Power’s purchase is made in connection with its obligation under the federal Public Utility Regulatory Policies Act, or PURPA, and follows seven similar PURPA agreements for First Wind’s 20-MW Seven S
Landis+Gyr signed a definitive agreement to acquire GRIDiant Corporation, a utility analytics company focused on the electric distribution grid. GRIDiant's analytics suite will be integrated into Landis+Gyr's advanced metering infrastructure (AMI), distribution grid management and cloud-based solutions for utility customers. The influx of data from advanced metering, intelligent sensors and other distribution devices can challenge a utility's ability to utilize data for planning and operational performance.
PPL Corporation and Riverstone Holdings LLC announced a definitive agreement to combine their merchant power generation businesses into a new stand-alone, publicly traded independent power producer. The new company, which will own and operate 15,320 MW of generating capacity, will be called Talen Energy Corporation.
Terra-Gen Power (Terra-Gen), an affiliate of ArcLight Capital Partners and Global Infrastructure Partners, signed a purchase and sale agreement with NRG Yield for the sale of its 947-MW Alta Wind I-V, X & XI, and Realty projects (Alta Wind). Terra-Gen expects to close the transaction in the third quarter of 2014, pending customary closing conditions, including the receipt of regulatory approval by FERC and the U.S. Department of Justice and the Federal Trade Commission.
First Wind finalized seven 20-year PPAs with Rocky Mountain Power, a division of PacifiCorp. As part of the purchase agreements, Rocky Mountain Power will buy the output of the planned 20-MW Seven Sisters projects under its obligation from the federal Public Utility Regulatory Policies Act, or PURPA. The Seven Sisters portfolio includes seven separate solar photovoltaic projects, four of which are to be sited in Beaver County and three to be located in Iron County, Utah.
DTE Energy exercised its option to purchase one of the two Pheasant Run wind parks from a subsidiary of NextEra Energy Resources LLC. Financial details were not disclosed. The 75-MW Pheasant Run II wind park will be renamed the Brookfield Wind Park as a result of the purchase. Operating since earlier this year, it will shut down for one to two weeks to accomplish the ownership transition and convert the communication infrastructure.
First Solar completed the sale of the 250-MW Silver State South Solar Project to a subsidiary of NextEra Energy Resources. Terms of the transaction were not disclosed. The project is adjacent to the 50MWAC Silver State North Project, which was developed and built by First Solar and commissioned in 2012. First Solar developed and designed the Silver State South project, and will provide EPC services to NextEra. All the power from Silver State South will be sold to Southern California Edison under a long-term PPA.
First Solar sold the 50-MW Macho Springs Solar Power Plant to Southern Company subsidiary Southern Power and Turner Renewable Energy. El Paso Electric has a 20-year PPA for all energy generated by the power plant. Terms of the deal were not disclosed. The power plant, located on approximately 600 acres of State Trust land near Deming, New Mexico, is the state's largest solar power plant.