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.
sPower acquired its first wind project, a 62.1-MW facility in Monticello, Utah. The project is scheduled to begin construction this summer and should start generating clean energy at the end of 2015. The project has a 20-year PPA with PacifiCorp, which does business as Rocky Mountain Power in Utah.
Pattern Energy Group (Pattern Energy) closed the previously announced acquisition of a one-third interest in the 270-MW K2 Wind Power Facility in Ontario from Pattern Energy Group LP (Pattern Development). Pattern Energy will hold a 33% equity interest in the facility, which is equally co-owned by Samsung Renewable Energy and Capital Power.
The U.S. Supreme Court has ruled that the Environmental Protection Agency must – first – consider the costs of compliance before fixing a specific cap on mercury emissions. What’s next?
Today's Court Ruling: High Court Takes Heat Out of Mercury Rule
AES Distributed Energy, a subsidiary of AES, commissioned a 4-MW solar project located in Dublin, Georgia. This system is the first of two solar PV projects being developed by AES Distributed Energy and its partners, collectively expected to supply 20 MW to the Georgia Power utility grid. The second, 16 MW project, is under development and is expected to be operational in the first half of 2016.
NextEra Energy Resources, through an indirect, wholly owned subsidiary, and Tompkins Cortland Community College (TC3), completed a 2.6-MW solar system on the main college campus in Dryden, New York. The system, installed on approximately 10 acres, is expected to meet 90 percent of the college's electricity needs. The ground-mounted fixed-array system is composed of 8,676 solar modules. TC3 will purchase the electricity from the solar project over the term of a 25-year PPA.
The Babcock & Wilcox board of directors approved the spin-off of the power generation business creating a new public company. The power generation business will be named Babcock & Wilcox Enterprises, and operate as Babcock & Wilcox. It will be headquartered in Charlotte, N.C. The remaining company will change its name to BWX Technologies on the date of the spin-off and will be headquartered in Lynchburg, Va.
Tampa Electric received the Edison Electric Institute's (EEI's) 2015 Edison Award, the electric power industry's highest honor, for its design and construction of a reclaimed water system at its Polk Power Station in Polk County, Florida. Tampa Electric designed and built a reclaimed water-treatment project that offers environmental benefits to Hillsborough and Tampa bays.
The Energy Department announced more than $60 million in nuclear energy research and infrastructure enhancement awards. Sixty-eight projects from across the country were selected based on their potential to create scientific breakthroughs that both help strengthen the nation's energy security and reduce harmful greenhouse gas emissions.