AES Corporation

Digest (December 2014)

NRG Energy and MGM Resorts International completed installation of the world's largest rooftop solar array on a convention center;

Southern California Edison on November 5 announced the largest purchase of grid-connected energy storage in U.S. history. NRG Energy acquired Pure Energies Group; Duke Energy Progress filed with FERC for approval to purchase $1.2 billion in generating assets;

The U.S. Department of Energy authorized Bechtel to resume engineering work at a facility that will treat some of the nation's liquid radioactive waste; Burns & McDonnell plans to develop a grid stability awareness system;

Governor Andrew M. Cuomo announced the launch of New York's first energy management network operations center. And others...

SunEdison Acquires A 50% Ownership Stake in Silver Ridge Power Joint Venture

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.

Allete Clean Energy to Purchase Wind Energy Facilities in Three US states

ALLETE Clean Energy signed an acquisition agreement to purchase wind farms in Minnesota, Iowa and Oregon from The AES Corporation in early 2014 and has also signed an option agreement to acquire a fourth wind energy facility in Pennsylvania in mid-2015. Under the acquisition agreement, ALLETE Clean Energy would acquire AES’ position in operating wind energy projects in Lake Benton, Minn., Storm Lake, Ia., and Condon, Ore. with a total output of 231 MW for $27 million. All three wind farms to be acquired have PPAs in place for their entire electric output.

Greenhouse Chill

Has the Supreme Court frozen climate change litigation?

The Supreme Court’s decision in American Electric Power v. Connecticut strongly limits private nuisance actions against greenhouse gas (GHG) emitters by keeping these cases out of federal court. But the AEP decision won’t stop lawmakers from enacting new GHG regulations, and it won’t prevent plaintiffs from suing emitters in state courts.