August 2021's Power Generation & Supply Market Recap is a snapshot of the data and information we curate. We share industry drivers, notable projects, recent mergers and acquisitions, interesting reads, and updates on upcoming meetings and conferences.
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Our data team tracks new and updated industry drivers. Here are some recent drivers we have been following this month:
Status: Proposed
Organization: Clean Air Task Force
Summary: U.S. Sen. Tina Smith, D-Minn., is promoting a program to get retail electricity providers to boost the amount of renewable power they sell that is designed to fit the criteria that must be met by legislation passed by the budget reconciliation process. As explained by a nonprofit called the Clean Air Task Force, the Clean Electricity Payment Program would offer federal investments and other financial incentives to retail power providers if they increase the amount of their electricity that comes from renewable sources. The program’s structure would enable it to be included in a $3.5 billion bill that Democrats are trying to pass via the budget reconciliation process so it only needs a simple majority, rather than 60 votes, in the Senate.
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Status: Effective
Organization: U.S. Department of the Treasury
Summary: On August 16, 2021, the Treasury Department issued its Fossil Fuel Energy Guidance for Multilateral Development Banks. The Guidance was issued in response to President Biden’s Executive Order on Tackling the Climate Crisis at Home and Abroad, which promotes ending international financing of carbon-intensive fossil fuel-based energy while simultaneously advancing sustainable development and a green recovery. The Guidance advocates for MDB staff to assess options for clean energy, innovation, and energy efficiency, and to only consider fossil fuels if less carbon-intensive options are unfeasible.
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We track notable projects from the proposal stage to becoming effective. Here are some of the recent notable projects we have been tracking.
Type: Wind Generation
Status: Proposed
Organization: Dominion Energy
Region: Virginia
Summary: In July 2021, the US Bureau of Ocean Energy Management (BOEM) published a Notice of Intent to prepare an environmental impact statement for the 2.6 GW Coastal Virginia Offshore Wind (CVOW) project that Dominion Energy has proposed building and operating 27 miles off the coast of Virginia Beach, VirginiaThe NOI kicks off BOEM's and other federal agencies' reviews of the project. Construction on the $7.8 billion project is scheduled to commence in January 2024 and be completed in December 2026. Also in July, the Virginia State Corporation Commission opened a docket to receive Dominion’s application for approval of the project.
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Type: Wind Generation
Status: Proposed
Organization: Horse Heaven Wind Farm, LLC
Region: Washington
Summary: On February 8, 2021 the Washington State Energy Facility Site Evaluation Council (EFSEC) received an Application for a Site Certification from Scout Clean Energy subsidiary Horse Heaven Wind Farm, LLC for a project that would combine up to 1,150 MW of wind and solar generation capacity with battery energy storage.. The Horse Heaven Clean Energy Center would be located on 72,478 acres of privately held land in Benton County, Washington and would have an estimated value of $1.7 billion. Scout had anticipated beginning construction in September 2021 and completing it in December 2023, but The Seattle Times reported on May 4, 2021, that EFSEC is expected to take a year or more to review the project.
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Type: Solar Generation
Status: Proposed
Organization: 335es 8me, LLC
Region: Nevada
Summary: On April 26, 2021, 335es 8Minute Solar Energy subsidiary 8me, LLC submitted to the Public Utilities Commission of Nevada a Notice Pursuant to the Utility Environmental Protection Act of an Application to a Federal Agency to construct the Rhyolite Ridge 1 Project, which consists of a 380 MW solar generation facility, an up-to-380-MW battery energy storage system, and ancillary facilities. The project would be located on 2,979 acres of federally owned land managed by the Bureau of Land Management in Esmeralda County, Nevada and connect to the electric grid at the Esmeralda Substation via a 3-mile-long 525 kV transmission line.. 335es 8me estimates construction on the project will commence in 2025 and that the project will go into commercial operation in 2026. The project’s value is estimated at around $368 million.
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Type: Solar Generation
Status: Proposed
Organization: Harvey Solar I, LLC
Region: Ohio
Summary: On June 24, 2021, Harvey Solar I, LLC, filed a Pre Application Notification Letter with the Ohio Power Siting Board for the Harvey Solar Project, an up-to-350-MW solar generation facility that the Open Road Renewables subsidiary is proposing to build on 2,630 acres of privately owned land in Hartford Township, Licking County, Ohio. In the letter, Harvey Solar said it anticipates construction on the facility beginning as early as the fourth quarter of 2022, resulting in the facility operating commercially in the fourth quarter of 2023. In an application filed with the Public Utilities Commission of Ohio on August 6, 2021, Harvey Solar said the project’s total capital expenses per kW are $932, which would bring its cost to approximately $330 million.
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Type: Solar Generation
Status: Proposed
Organization: Harvey Solar I, LLC
Region: Ohio
Summary: On June 24, 2021, Harvey Solar I, LLC, filed a Pre Application Notification Letter with the Ohio Power Siting Board for the Harvey Solar Project, an up-to-350-MW solar generation facility that the Open Road Renewables subsidiary is proposing to build on 2,630 acres of privately owned land in Hartford Township, Licking County, Ohio. In the letter, Harvey Solar said it anticipates construction on the facility beginning as early as the fourth quarter of 2022, resulting in the facility operating commercially in the fourth quarter of 2023. In an application filed with the Public Utilities Commission of Ohio on August 6, 2021, Harvey Solar said the project’s total capital expenses per kW are $932, which would bring its cost to approximately $330 million.
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Type: Solar Generation
Status: Proposed
Organization: Starke Solar, LLC
Region: Indiana
Summary: On July 29, 2021, Starke Solar, LLC filed a petition to construct, own, and operate the 300 MW Mammoth Solar Phase 2 project with the Indiana Utility Regulatory Commission. The project will use over 740,000 solar panels to generate electricity on 3,428 acres of property in Pulaski County. Construction on the estimated $300 million facility is expected to begin in January 2022 and end in June 2024.
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Type: Subtransmission infrastructure
Status: Proposed
Organization: Southern California Edison Company
Region: California
Summary: On August 13, 2021, the Southern California Edison Company filed an application with the California Public Utilities Commission for a Permit to Construct the Control-Silver Peak Project in order to remediate physical clearance discrepancies on the five 55 kV subtransmission line segments that make up SCE’s Control-Silver Peak “A” and “C” circuits. The project would involve work on subtransmission, distribution, lines, distribution, and telecommunications/system protection infrastructure, as well as, substations. SCE said in the application that the project has an estimated cost of $242 million and that construction on it is scheduled to begin in the second quarter of 2024 and be completed by the first quarter of 2027.
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Type: Solar Generation and Energy Storage
Status: Proposed
Organization: Kauai Island Utility Cooperative
Region: Hawaii
Summary: On August 23, 2021, the Hawaii Office of Environmental Quality Control (OEQC) published a draft environmental assessment of the West Kauai Energy Project (WKEP) that found that the project’s construction won’t have any long-term, adverse impacts. The public has until Sept. 22 to comment on the document, after which a revised final version of it will be submitted to the QEQC for publication. The WKEP is a solar-generation, energy-storage, pumped-storage, hydroelectric-generation and irrigation project proposed by the Kauai Island Utility Cooperative (KIUC), which signed agreements to have AES Corporation create, build and run the facility and applied to the Hawaii Public Utilities Commission on December 31, 2020, for approval of a Power Purchase Agreement with AES.. KIUC wants to obtain all the permits for the $200 million facility by the end of 2023 and have it in service by the end of 2025.
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Type: Solar Generation
Status: Proposed
Organization: EDPR CA Solar Park III, LLC
Region: California
Summary: A Notice of Preparation: Draft Environmental Impact Report for the Las Camas Solar Project was issued by the Merced County Community and Economic Development Department on August 13, 2021. The project applicant, EDPR CA Solar Park III, LLC will own, develop, and manage the 200 MW solar photovoltaic power plant on around 1,745 acres of unoccupied land in unincorporated Merced County. The $180 million facility is slated to open in October 2024 and will run for 35 years.
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The following M&A transactions in the Power Generation and Supply Industry stand out in the month of May:
Here are some recent articles our team has been reading:
Organizations have shifted their event strategies during the COVID-19 pandemic. We are tracking these changing meeting plans.