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Power Generation and Supply Monthly Roundup, August 2019

By FirmoGraphs Staff

Hello Everyone!

Please take a few moments and read our second Power Generation & Supply Roundup. 

 

Industry News and Drivers

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  • Driver:  EPA Sued By Coalition of 29 States and Cities Over Trump Administration’s Rollback of Clean Air Rule

    On Aug. 13, 2019, Attorneys General from 22 states and 7 major cities, including Los Angeles, Chicago and Miami filed a lawsuit in the United States Court of Appeals. The lawsuit is aimed to block the Trump administration from repealing Obama-era restrictions on coal-burning power plants.

    For additional information see:

     

  • Driver:  Bipartisan Senate Support for Nuclear With $7.5B Bill to Extend the Life of Current Fleet

    The Nuclear Energy Renewal Act introduced by Sens. Chris Coons, D-Del., and Martha McSally, R-Ariz., on August 1, 2019, authorizes $755 million per year (from 2019 to 2029) to "enhance the economic viability of the current U.S. nuclear fleet.

    For additional information see

     

  • Driver:  Wisconsin Gov. Tony Evers Orders to Make the State 100% Carbon Free By 2050

    In his Executive Order #38 (relating to Clean Energy in Wisconsin), Governor Tony Evers created the Office of Sustainability & Clean Energy.  The primary goal is to assure all electricity consumed within the State of Wisconsin is 100% carbon-free by 2050. The order was signed by Governor Evers on Aug. 16, 2019.

    For additional information see 

    Executive Order: tinyurl.com/Executive-Order-38

Notable M&A

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As per FirmoGraphs’ records, the following  M&A transactions in the Power Generation and Supply Industry, stand out in the month of August:

  • UGI Corporation and AmeriGas Partners, L.P. successfully completed the merger transaction between its subsidiary and AmeriGas, on Aug. 21. UGI acquired approximately 69.2 million public common units of AmeriGas it did not already own.
  • WE Energies and Madison Gas & Electric (MGE), announced a new partnership to acquire the remaining 150 megawatts (MW) of the Badger Hollow Solar Farm. The two companies filed a joint application on Aug. 1, 2019, with the Public Service Commission of Wisconsin. We Energies will own 100 MW, and MGE will own 50 MW.
  • Atlantic Power Corporation acquired equity ownership interests held by AltaGas Power Holdings (U.S.) Inc. in the Craven County and Grayling contracted biomass plants on Aug. 14, 2019. They acquired a 50% interest from AltaGas; the remaining 50% interest is held by CMS Energy.
  • GlidePath Power Solutions, one of America’s leading independent energy storage developers, acquired eight wind projects in North Texas with a total capacity of 149MW, on Aug. 20, 2019. The transaction provided the company with an opportunity to optimize the performance of the wind farms though the addition of battery storage.
  • OG&E, a subsidiary of Oklahoma City-based OGE Energy Corp., acquired Oklahoma Cogeneration LLC facility in Oklahoma City on Aug.20, 2019 and subsequently renamed it Frontier Power Plant. The acquisition followed the May purchase of the AES Shady Point plant near Poteau, Oklahoma, which is known as River Valley Power Plant now.
  • Castleton Commodities International LLC (CCI) fully acquired NedPower Mt. Storm LLC through one of its subsidiaries, on Aug. 28, 2019,. CCI had previously closed on a 50% ownership stake in Mt. Storm in June 2019, and concluded the acquisition of the remaining 50%, in August.
  • Vistra Energy entered into an agreement to acquire Ambit Energy for $475 million plus net working capital in an all-cash transaction, on Aug. 20. As a result Vistra's share of the ERCOT residential market will grow from approximately 25 percent to approximately 32 percent and an industry-leading 26 percent in all U.S. competitive markets.

 

Meeting Planner

Meeting Planner-min

Don't miss the opportunity to have face-to-face meetings with your prospects and customers!  We track meetings of interest to our customers serving the US power generation and supply industry so you won’t miss upcoming meetings and deadlines.  

Meetings in September & October, 2019

Early Bird Registration Deadlines

Call for Papers Deadlines

Event: AWEA Wind Project O&M and Safety Conference

Association: American Wind Energy Association

URL: https://www.awea.org/conferences/awea-wind-project-o-m-and-safety-conference

Dates: From February 26 to February 27, 2020

Location: Coronado, California

Call for Papers Deadline: September 13, 2019

Disclaimer

None of the information we provide may be taken as legal advice. Please consult an attorney if you require a legal interpretation of this information. 

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