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 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.
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 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.
Duke Energy Renewables acquired two 20-MW AC California solar projects from renewable energy developer Infigen Energy. The Pumpjack and Wildwood Solar Power Projects, located in Kern County near Bakersfield, represent Duke Energy Renewables' third and fourth utility-scale solar power projects in the state. The solar energy generated from the two projects will be sold through 20-year PPA with Southern California Edison.
Calpine completed the acquisition of a natural gas-fired, combined-cycle power plant located in Guadalupe County, 30 miles northeast of San Antonio, Texas, in ERCOT's south zone. Calpine purchased the plant, which has a generating capacity of 1,050 MW, from MinnTex Power Holdings (a portfolio company owned by a private investment fund managed by Wayzata Investment Partners) for $625 million plus adjustments.
Sunrun acquired the residential division of REC Solar, AEE Solar and SnapNrack. The companies represent Mainstream Energy's residential solar sales, design and installation; wholesale distribution; and mounting systems and hardware businesses, respectively. In the commercial market, REC Solar will continue as an independent organization under the legal name REC Solar Commercial. The value of the transaction was not disclosed.
South Carolina Electric & Gas (SCE&G) and Santee Cooper established an agreement for SCE&G to acquire from Santee Cooper a 5 percent ownership interest in the two new nuclear units which are currently under construction at V.C. Summer Station in Jenkinsville, S.C. Under the terms of the transaction, SCE&G will own 60 percent of the new nuclear units and Santee Cooper, 40 percent. The purchase price is anticipated to be approximately $500 million for the entire 5 percent interest based on current project cost.
TransCanada reached an agreement to sell Cancarb Limited (Cancarb) and its related power generation facility to Tokai Carbon for aggregate gross proceeds of $190 million, plus customary adjustments. The transaction is expected to close late in the first quarter of 2014, subject to various approvals. Cancarb is the world's largest producer of "thermal carbon black," a specialized form of carbon derived from super-heated natural gas, which is used in a wide range of industrial and automotive products.
Illinois Power Holdings (IPH) completed its acquisition of New Ameren Energy Resources (AER), an Ameren subsidiary. The transaction includes AER and its subsidiaries Ameren Energy Generating Company (Genco), New AERG (AERG), and Ameren Energy Marketing Company (AEM). The AEM retail and marketing businesses, doing business as Homefield Energy, and the following plants are included in the transaction: Duck Creek, Coffeen, E.D. Edwards, Newton, and Joppa.