It takes Hogarth to pull down a massive off-switch to disconnect and save Iron Giant and protect grid assets.
The monopoly utility model was once expansive and revolutionary. Now, it is contracting and preservationist.
FuelCell Energy closed its definitive agreement to sell a 1.4-MW fuel cell power plant project to NRG Energy; FPL proposes to purchase CBAS Power for a price of $520.5 million; Renewable Energy Trust secured CAD $115MM in financing to acquire the 12.6 MW DiscoveryLight and 14.2 MW FotoLight projects from Canadian Solar; b secured $86.2MM in financing to acquire the 31.26 MW DC McHenry Solar PV Plant in Modesto, Calif. and the 13.1 MW DC Heber Solar PV project in Imperial County, Calif.; Peabody Energy completed its offering of $1.0 billion aggregate principal amount of 10% senior secured second lien notes due 2022; AES intends to offer $575 million aggregate principal amount of senior notes due 2025; And others ...
TerraForm acquired 21 U.S. distributed generation solar power plants from SunEdison; Emera closed the sale of its 49 percent interest in Northeast Wind Partners II to First Wind Holdings; Alterra Power completed its sale of its Fallon, Nevada geothermal facility to an affiliate of Cyrq Energy; Accenture agreed to acquire Structure, a provider of consulting, system integration and customized solutions and services to energy and utility clients; and others.
PPL Montana sold its hydroelectric facilities to NorthWestern Energy for $900 million; Chesapeake Utilities sold BravePoint; Echelon completed the sale of its grid operations to S&T AG; Plus a debt redemption from Virginia Electric & Power, a private placement offering from DPL, and an IPO for Dominion Midstream Partners.
First Solar sold the 50-MW Macho Springs Solar Power Plant to a Southern Company subsidiary. DTE Energy purchased one of the Pheasant Run wind parks. Dominion acquired two stand-alone solar energy developments in southwest Tennessee. With asset sales by Suzlon Group, NextEra Energy Resources, and Strata Solar, and debt offerings by ITC Holdings and SunEdison.
SCE&G acquires larger share of VC Summer nuclear project; APS buys SCE's share of Four Corners power plant; Allete (Minnesota Power) acquires from AES 231 MW of wind farms in four states; EdF acquires 194-MW Texas wind project; NRG issues $1.1 billion in bonds; ComEd floats $650 million in two tranches; plus transactions involving TransCanada, Alterra, PSEG, and others totaling $3.4 billion.
Atlantic Power sells 800 MW of generating capacity in Florida and Texas; Goldman Sachs buys Imperial Valley project from FirstSolar; Duke acquires two solar plants in California; Southern Company and Turner Renewable Energy buy Campo Verde project; plus other deals and issues totaling more than $2 billion.
Unforeseen consequences of dedicated renewable energy transmission.
Achieving aggressive renewable energy goals will require building thousands of miles of new transmission lines, and these so-called “green-power superhighways” could bring major new sources of low-cost electricity into the market. But will those sources be renewables? Analysts Roger Bezdek and Robert Wendling argue that with new access to distant wholesale markets, coal-fired generation would become more competitive than ever.
