January's 2022 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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Industry Drivers
Our data team tracks new and updated industry drivers. Here are some recent drivers we have been following this month:
New Mexico Grid Modernization Roadmap
Status: Effective
Organization: The New Mexico Energy, Minerals and Natural Resources Department
Summary: On January 20, 2022, the Energy, Minerals and Natural Resources Department’s (EMNRD) Energy Conservation and Management Division (ECMD) published the New Mexico Grid Modernization Roadmap. The Roadmap details priorities and strategies to modernize New Mexico’s electric grid and complements the state’s Energy Transition Act of 2019 (ETA) which set the state’s electricity providers on a path to 80% renewable energy and 100% zero-carbon energy. The roadmap considers actions that could be taken across the next eight years (2022-2030) to achieve grid modernization.
Order on Power Grid Study Recommendations
Status: Effective
Organization: New York State Department of Public Service
Summary: On January 20, 2022, the New York Public Service Commission published its Order on Power Grid Study Recommendations addressing the State's investments in electric transmission and distribution systems necessary to meet the Climate Leadership and Community Protection Act (CLCPA). The Order concerns changes to New York's offshore wind program, future onshore bulk transmission planning requirements, the proposal to consider Renewable Energy Zones (REZs), and strategies to deploy advanced technologies. Also, by this Order, the New York State Energy Research and Development Authority (NYSERDA) is obligated to require future offshore wind proposals to be developed with the optional capability to interconnect with a meshed system if the PSC recommends such configurations in the future. This Order is based on offshore wind propositions from a power grid study that was conducted pursuant to the Accelerated Renewable Energy Growth and Community Benefit Act of 2020.
Click Here for More Information
Repealing Ban on Construction of Nuclear Power Plants
Status: Proposed
Organization: West Virginia State Legislature
Summary: On January 31, 2022, Senate Bill 4 passed the West Virginia's Senate 76-16. The bill would remove two sections of code banning the construction of new nuclear power plants except under certain circumstances, thus ending the ban that has been in place since 1996. This law has a twin in the House, HB 2882, which already made it through the House Energy and Manufacturing Committee and the House Government Organization Committee. The bills are a result of discussion between the lawmakers and Nucor, a steel manufacturer from North Carolina, which has plans to build a new steel mill in Mason County using electric arc furnaces. Last year, the company also announced plans to further reduce greenhouse gas emissions at its plants and utilize cleaner forms of energy.
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Notable Projects
We track notable projects from the proposal stage to becoming effective. Here are some of the recent notable projects we have been tracking.
$10 Billion CP2 LNG and CP Express Pipeline Project
Type: Generation - Gas
Status: Proposed
Organization: Venture Global
Region: Louisiana
Summary: In December 2021, Venture Global filed an application with the Federal Energy Regulatory Commission (FERC) for authorization to build and maintain a $10 billion worth LNG export facility in the State of Louisiana. The new facility will be in Cameron Parish, neighboring Venture Global’s first facility, Calcasieu Pass. The proposed project development includes the two-phased construction of 20 million tonnes per annum (MTPA) of nameplate liquefaction capacity for export from the Terminal Facilities, constructed on around 737.3 acres of the mainland and shoreline of Monkey Island. CP Express will build about 85.4 miles of the new, 48-inch-diameter natural gas pipeline (the CP Express Pipeline); 6.0 miles of new, 24-inch diameter lateral pipeline (the Enable Gulf Run Lateral); and additional facilities in Texas and Louisiana, which will be completed in two phases (the Pipeline System). The Pipeline System will connect the Terminal Facilities to the existing natural gas pipeline grid in east Texas and southwest Louisiana. CP2 LNG and CP Express expect that FERC approval to site, construct, and operate the project will be administered in the first quarter of 2023. Construction of the project is planned to begin during the second quarter of 2023, with a Phase 1 in-service target during the second quarter of 2026. Construction and in-service of the Phase 2 facilities are expected to follow Phase 1 by 12 months.
Contact FirmoGraphs to See the Document
$900 Million SunZia Southwest Transmission Project
Type: Transmission
Status: Proposed
Organization: SunZia Transmission, LLC
Region: Arizona
Summary: The proposed SunZia Southwest Transmission Project consists of two planned 500 kV transmission lines located on around 520 miles of Federal, State, and private lands between central New Mexico and central Arizona. The first phase of the SunZia project will include a single-circuit 500-kV high-voltage direct-current line, which will primarily supply renewable energy from rural New Mexico and southeastern Arizona to serving entities in Arizona, California, and other project markets. The project's second phase is envisioned to include an additional 1,500 MW of capacity on 500-KVac transmission lines and other delivery points. The construction of phase two is currently excluded from the current solicitation. The planned in-service date for the first transmission line is 2025. The project will include the construction of the Willow-500 kV Substation, located on Arizona's State land in Graham County. The proposed Willow-500 kV Substation location is around 3 miles north of the Cochise County line and about 1 mile east of US Highway 191. Construction of the project is anticipated to start in 2023 and is expected to be completed by 2025. The project is valued at an estimated $900 million.
Contact FirmoGraphs to See the Document
$560 Million Titus Canyon Solar Project
Type: Generation Solar
Status: Proposed
Organization: Titus Canyon Solar, LLC
Region: Nevada
Summary: On December 23, 2021, Titus Canyon Solar, LLC filed a notice with the Public Utilities Commission of Nevada asking for permission to:
- construct a 600 MW /ac photovoltaic solar electric generating facility;
- a 525 kilovolt kV generation tie line which will run from the project site to the proposed Amargosa Substation
- a 600 MW/ac battery energy storage system (BESS), and ancillary facilities.
The project is located on Bureau of Land Management (BLM) land near Highway 95 and State Road 373 in Nye County, Nevada. The project will commence in December 2022 and is expected to be completed by June 2027. FirmoGraphs estimates the project will cost $560 million to build.
Contact FirmoGraphs to See the Document
$427 Million South Fork Wind Farm
Type: Generation Wind
Status: Proposed
Organization: Ørsted and Eversource
Region: New York
Summary: In January 2022, South Fork Wind, New York's first offshore wind farm, got its final decision from the U.S. Department of the Interior's Bureau of Ocean Energy Management (BOEM) to start the construction. The 132 MW offshore wind farm will complement East Hampton's energy needs, delivering enough clean energy to power 70,000 homes. The 12 turbines won't be seen from East Hampton beaches when complete. Ørsted and Eversource will soon start construction on South Fork Wind, with onshore activities beginning as early as January 2022 on the project's underground transmission line. Offshore installation of the project's monopile foundations and 11 MW Siemens-Gamesa wind turbines will start in summer 2023. South Fork Wind, LLC will construct, operate, and maintain the South Fork Export Cable (SFEC) in support of the South Fork Wind Farm, which will be built 35 miles east of Montauk Point. The SFEC will be an alternating current electric cable (138 kV) that will extend from the South Fork Wind Farm in federal offshore waters to coastal New York State waters and inland to the existing mainland electric grid located in the Town of East Hampton, New York. The project is anticipated to be completed by the end of 2023. FirmoGraphs estimates the project will cost $427 million to build.
Contact FirmoGraphs to See the Document
$300 Million Luyster Creek Energy Storage Project
Type: Energy Storage
Status: Proposed
Organization: Astoria Generating Company, L.P.
Region: New York
Summary: On December 15, 2021, Astoria Generating Company, L.P. (AGC), a wholly-owned subsidiary of Eastern Generation LLC, filed with the state of New York Public Utility Commission a proposal to construct, own, and operate an energy storage facility called the Luyster Creek Energy Storage (LCES) Project, which will be located at AGC's existing Astoria Generating Station in Astoria, Queens. The project involves two distinct installations with four-hour batteries and a total capacity of 135 MW (540 MWh). LCES Facility I, a 56 MW storage facility, will be constructed on a pier, formally the AO Dock. The LCES Facility II, a 79 MW storage facility, will be built on the Back Parking Lot. LCES Facility I will connect to Con Edison's 138 kV Astoria West Substation via feeder No. 24122. LCES Facility 2 will connect to Con Edison's 138 kV Astoria West Substation via feeder No. 24121. It is anticipated that the project's construction will begin in 2023 and continue for 12 months. AGC estimates the project's total costs at around $300 million and expects to finance those costs through a combination of equity and debt.
Contact FirmoGraphs to See the Document
$202 Million Moss Creek Solar Project
Type: Generation - Solar
Status: Proposed
Organization: Moss Creek Solar, LLC
Region: Indiana
Summary: On December 17, 2021, on behalf of Moss Creek Solar, LLC, a wholly-owned subsidiary of NextEra Energy Resources, the Development Director gave testimony for the proposed Moss Creek Solar Project. The project involves the construction of a Solar Facility, which is located entirely in unincorporated areas of Pulaski County, Indiana. The Solar Facility will generate up to 200MW (nameplate capacity, alternating current) of electricity from around 560,000 solar panels located across parts of approximately 1,530 buildable acres. Transmission and substation facilities are planned to be situated in Pulaski County. The project will interconnect to the American Electric Power (AEP) Olive Reynolds 345 kV transmission line, located within the PJM Interconnection LLC (PJM) footprint, via a line tap within the project’s boundary. Construction of the project is expected to start in the spring of 2022, and the project is anticipated to achieve commercial operation by December 2023. FirmoGraphs estimates the project will cost $202 million.
Contact FirmoGraphs to See the Document
Notable M&A
The following M&A transactions in the Power Generation and Supply Industry stand out in the month of January:
- On January 1, Florida Power & Light Company and Gulf Power Company have merged, and are now doing business as Florida Power & Light Company.
- On January 26, Brookfield Renewable acquired clean power developer Urban Grid and its high-quality pipeline for $650 million.
What We Are Reading
Here are some recent articles our team has been reading:
- Massachusetts Advances Dozens of Solar Projects on Hold for Nearly Two Years
- Next phase of Grid Transformation Plan Approved for Dominion Energy Virginia Customers
- Governor Hochul Announces Nation-Leading $500 Million Investment in Offshore Wind
- Connecticut targets building emissions, energy equity as it moves to update energy strategy
- New York to double energy storage target to at least 6 GW by 2030
- LG&E and KU plan to burn coal for another four decades
- Two Anne Arundel power plants announce plans to transition from coal to oil, get green light from Maryland Public Service Commission
- Biden administration targets N.Y.’s Long Island coast for offshore wind sale
- Virginia okays Dominion's plan to deploy 1.1M smart meters
- MidAmerican Energy proposes $3.9-billion renewable energy project in Iowa, including wind and solar
- NY Wind Farm Receives Final Approval
- FERC proposes new rule to strengthen systems against cyberattacks
- Gov. Edwards, American Electric Power Announce Plans to Develop $100 Million Transmission Control Center in Shreveport
- New York regulators tap ConEdison to help interconnect up to 6 GW of offshore wind
- Duke Energy's solar portfolio grows in North Carolina with the addition of two new plants
- PG&E proposes plan to develop nine new energy storage projects in California
- MidAmerican plans to add 2 GW of wind energy in Iowa, study carbon capture
- Missouri PSC greenlights 15-mile transmission line, substation project by ATXI
- Arizona’s largest utilities commit to increase use of clean energy
- Albany County approves 32,000-acre Rock Creek Wind Project
- Xcel Energy to reach 80% emissions reduction by 2030, building out renewables
- Connecticut launches 'comprehensive' and 'complex' charging program to support 500,000 EVs by 2030
Meeting Planner
Organizations have shifted their event strategies during the COVID-19 pandemic. We are tracking these changing meeting plans.
Meetings in February and March 2022
- CI American Hydrogen Forum - Feb. 17 - Feb. 18, 2022
- RFA National Ethanol Conference - Feb. 21 - Feb. 23, 2022
- SEPA Solar and Energy Storage Northeast - Feb. 23 - Feb. 24, 2022
- NESEA BuildingEnergy Boston - Feb. 28 - Mar. 1, 2022
- AGA Operations Conference & Spring Committee Meetings - Mar. 2 - Mar. 5, 2022
- ACEEE Hot Water Forum - Mar. 21 - Mar. 23, 2022
- AEE East Energy Conference & Expo - Mar. 23 - Mar. 24, 2022
- APPA Engineering & Operations Conference - Mar. 27 - Mar. 30, 2022
- IEEE - PES Spring Transformers Committee Meeting - Mar. 27 - Mar. 31, 2022
- IEEE - PES Green Technologies (GreenTech) Conference - Mar. 30 - Apr. 3, 2022
Early Bird Registration
- Event: AWEA Cleanpower Conference and Exhibition
Dates: May 16 - May 18, 2022
Deadline for Early Registration: Feb. 25, 2022 - Event: AEE East Energy Conference & Expo
Dates: Mar. 23 - Mar. 24, 2022
Deadline for Early Registration: Mar. 1, 2022 - Event: ACEEE Hot Water Forum
Dates: Mar. 21 - Mar. 23, 2022
Deadline for Early Registration: Mar. 4, 2022 - Event: AGA Operations Conference & Spring Committee Meetings
Dates: May 2 - May 5, 2022
Deadline for Early Registration: Mar. 14, 2022 - Event: IEEE - PES Transmission and Distribution Conference and Exposition
Dates: Apr. 25 - Apr. 28, 2022
Deadline for Early Registration: Mar. 27, 2022
Call for Papers Date
- Event: API Pipeline, Control Room And Cybernetics Conference
Dates: May 3 - May 5, 2022
Deadline for Call for Papers: Feb. 15, 2022