Southern Company subsidiary Southern Power acquired a controlling interest in the 157- MW Roserock solar facility from Recurrent Energy. The facility is being developed by Recurrent Energy, a subsidiary of Canadian Solar, which will retain the remaining interest in the project. The project, currently under construction, is expected to enter commercial operation in the fourth quarter of 2016.
Southern Company subsidiary Southern Power, acquired a controlling interest in the 200- MW Tranquillity Solar Facility in California from Recurrent Energy, a subsidiary of Canadian Solar Inc. Recurrent Energy is constructing the facility and will retain the remaining interest in the project. Construction began in July, with Signal Energy Constructors managing the engineering, procurement and construction of the facility. The project is expected to enter commercial operation in the fourth quarter of 2016.
Canadian Solar entered into a definitive agreement with Sharp Corporation to acquire Recurrent Energy, for approximately $265 million. Once completed, the acquisition of Recurrent will increase Canadian Solar's total solar project pipeline by approximately 4.0 GW to 8.5 GW, and its late-stage project pipeline by approximately 1.0 GW to 2.4 GW. Total consideration for the acquisition of Recurrent is approximately $265 million in cash.
Recurrent Energy won an award from Austin Energy for 150 MW of solar capacity in West Texas. The power will be delivered to Austin Energy pursuant to a 20-year PPA. The 150-MW solar facility will be completed in 2016 and will be Texas’ largest single solar power plant.
Dominion acquired six solar development projects from Recurrent Energy located in California's Fresno, Kern and Kings counties. Long-term power purchase, interconnection, engineering, procurement and construction - and operation and maintenance agreements have been executed for each of the projects. Recurrent Energy will continue to support Dominion through the completion of these projects. Construction commenced in the first quarter of this year and all of the solar facilities are expected to reach commercial operation in late 2014 or early 2015.
Duke Energy Renewables acquired the 4.5-MW Sunset Reservoir Solar Power Project, the largest solar generation facility in San Francisco, from Recurrent Energy. The San Francisco Public Utilities Commission (SFPUC) will purchase the energy under a 25-year PPA. The facility provides electricity for the city and county of San Francisco's municipal services and facilities.
NRG Energy, through its wholly owned subsidiary NRG Solar, announced that two of the solar photovoltaic (PV) facilities the company acquired from Recurrent Energy earlier this year have reached commercial operation.
(February 2012) Siemens acquires eMeter; Long Island Power Authority selects PSEG to manage T&D system; Mountain Parks Electric awards SCADA/DMS contract to Open Systems International; Kiewit and Sargent and Lundy award contract to Hitachi; plus announcements and contracts involving SAIC, Shell, Landis+Gyr, and others.
Planning ahead in a low-cost gas market.
IIt’s ironic that in today’s market, as the cost of hedging against commodity price increases has declined, support for utility hedging programs has sunk to a historic low. The ideal time to hedge is when prices are low and markets are relatively calm, because that’s when hedging costs and risks are the lowest. Conversely, waiting until prices rise and markets become volatile will expose customers to higher costs. Convincing regulators to approve hedging programs now will require a collaborative approach to educating and enlisting support from stakeholders.