Goldman Sachs

Energy People: Stan Garnett

We talked with Stan Garnett, former senior exec of two utilities, the day after the United Kingdom voted to leave the European Union.

The Brexit vote neatly frames a rather historic episode in the utility industry worldwide.

Panda Power Funds Finances Coal-to-Natural Gas Power Conversion Project

Panda Power Funds financed the 1,124-MW Panda Hummel Station power plant, one of the largest coal-to-natural gas power conversion projects in the United States. The plant will be located at the site of the retired Sunbury coal-fired power plant near Shamokin Dam in Snyder County, Pennsylvania. The 400-MW, 65 year old plant was shuttered in 2014. The Panda Hummel generating station will be fueled with Marcellus Shale gas.

Transactions (August 2014)

Wisconsin Energy to acquire Integrys in a transaction valued at $9.1 billion; Dominion to acquire the CID Solar Project from EDF Renewable Energy; Landis+Gyr to acquire GRIDiant Corp.; PPL Corporation and Riverstone Holdings LLC to merge merchant power generation businesses into a new company Talen Energy Corporation; plus debt offerings totaling $1.5 billion.

Transactions (May 2014)

Sunrun acquires AEE Solar and SnapNrack; FirstEnergy completes sale of hydroelectric power stations to Harbor Hydro Holdings; Alterra acquires Shannon wind project from Horn Wind.

Transactions (April 2014)

Calpine acquires Texas combined-cycle plant from MinnTex; FirstEnergy sells 11 hydro stations to LS Power; Alterra Power acquires 202-MW wind farm; plus deals and debt issues totaling $1.8 billion.

Transactions (January 2014)

Calpine acquires 1,050-MW combined-cycle plant in Texas; Allete buys AES wind farms; NextEra acquires Silver State solar project from First Solar; plus equity and debt deals involving EdF, Emera, First Wind, SunEdison, AEP, NV Energy and others, totaling $2.7 billion.

Transactions (December 2013)

NRG and Sempra acquire Edison Mission assets; Google invests in AES-Riverstone venture; TransAlta acquires NextEra wind farm; plus debt issues from TransCanada, NiSource, Duke, and Southwest Gas totaling $2.4 billion.

Transactions (August 2013)

During the month of June, MidAmerican issued $1 billion in bonds for solar projects in California; PG&E sold $750 million in two tranches; ITC floated bonds totaling $550 million; plus debt issues from Duke, TransCanada, Entergy, and others totaling $4.35 billion.