NRG Yield, through its subsidiary NRG Yield Operating, entered into an agreement with GE Energy Financial Services to acquire its 25 percent interest in the Desert Sunlight Solar Farm in Riverside, CA for $285 million, subject to customary working capital adjustments, plus the assumption of $287.4 million of non-recourse project level debt.
Duke Energy bought a 7.5-percent ownership stake in the proposed and previously announced $3-billion Sabal Trail natural gas pipeline that will traverse Alabama, Georgia and Florida to meet the growing need for natural gas in those states. Duke Energy's commercial power business unit will invest approximately $225 million in the approximately 500-mile underground pipeline - from Tallapoosa County, Ala., to Osceola County, Fla. - during the next seven years. The pipeline, scheduled to begin service in 2017, requires federal and other regulatory approvals.
NextEra Energy and Hawaiian Electric Industries (HEI) announced a definitive agreement under which the companies have agreed to combine. The transaction, which is valued at approximately $4.3 billion, includes the assumption of $1.7 billion in HEI debt and excludes HEI's banking subsidiary.
The industry’s transformation has begun. Should the F40 transform too?
NextEra Energy Resources, a subsidiary of NextEra Energy dedicated the company's 250 MW Genesis Solar Energy Center, located in Riverside County, Calif. All of the power generated by the solar facility is being provided to Pacific Gas & Electric under a long-term contract. The solar facility, which is comprised of two identical 125-MW generating units, entered service in November 2013 and March 2014, respectively and is owned and operated by an affiliate of NextEra Energy Resources.
Doing the right thing can drive utility stock performance.
Utilities get little credit for their efforts to strengthen the sustainability of their businesses. But these efforts have paid dividends in stock performance, capital costs, regulatory relationships, and brand value. Capturing the greatest value for shareholders will require utilities to become better understood as socially responsible enterprises.
Lewis “Lew” Hay III intends to retire from NextEra Energy at the end of 2013 as part of a planned leadership succession process. Hay will serve as executive chairman from July 1, 2012, until his retirement, and James L. Robo, currently president and CEO of NextEra Energy, will succeed Hay as CEO, effective July 1.
(May 2012) Entergy Louisiana starts construction on gas-fired power project; Virginia Commonwealth University and Dominion partner on a test site for efficient energy technologies; Burlington Electric Department selects Siemens for meter data management platform; IKEA commissions four Blink electric vehicle charging stations; Edison Mission Energy, TIAA-CREF and Cook Inlet Region Inc. form partnership, and others.
(March 2012) DTE Energy awards contract to URS; Exelon and Constellation reach an agreement with Electricite de France; Dominion and Lockheed Martin enter a joint marketing and development alliance; plus deals involving Nissan North America, CenterPoint Energy Field Services, Honeywell, Silver Spring Networks, and others.