April 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.
To learn more about how we are helping power and coal ash industry leaders find new opportunities in their market of interest, schedule a market opportunity workshop.
Industry Drivers
Our data team tracks new and updated industry drivers. Here are some recent drivers we have been following this month:
An Act Advancing Offshore Wind and Clean Energy
Status: Proposed
Organization: U.S. House
Summary: On April 4, 2022, a bill was introduced in the House to enhance offshore wind construction and manufacturing through the investment tax credit (ICT) and production tax credit (PTC). The Offshore Wind American Manufacturing Act of 2022 would create 30% ITC for qualified facilities that manufacture offshore wind components through December 31, 2028. It will be followed by a cut of 30% for property placed in service in 2029, 65% for the calendar year 2030, and 100% for property placed in service after December 31, 2030. Similarly, the bill would create a new PTC ranging from approximately $0.02 to $0.05 per watt multiplied by the total rated capacity of the turbine, with components including blades, towers, generators, gearboxes, and foundation contributing to variable factors. Both PTC and ICT would apply to properties or components placed in service after August 1, 2021.
Click Here for More Information
Pennsylvania Regional Greenhouse Gas Initiative
Status: Proposed
Organization: U.S. House
Summary: On April 22, 2022, the Pennsylvania Bulletin issued the regulations that would enroll the state in the Regional Greenhouse Gas Initiative (RGGI) that limits earth-warming emissions they create. Pennsylvania will be the 12th state to impose a levy on carbon-emitting power plants for each ton of CO2 released into the atmosphere. Fossil-fired power plants’ owners will have to buy carbon allowances. The regional market mandates that power plants buy approximately one ton of allowances equal to each ton of CO2 emitted. The state’s Department of Environmental Protection estimates that participation in the trading market will cut its plants’ carbon pollution up to 225 million tons by 2030 and decrease other harmful airborne pollutants. The RGGI auction proceeds will grow Pennsylvania’s gross state product by nearly $2 billion and 30,000 jobs. The states then use the money collected from the fees paid by the power companies for climate change initiatives.
Click Here for More Information
Notice of Request for Information on Formula Grants to States and Indian Tribes for Preventing Outages and Enhancing the Resilience of the Electric Grid
Status: Proposed
Organization: U.S. House
Summary: On April 27, 2022, the U.S. Department of Energy (DOE) requested public input before launching a $2.3 billion grant program to strengthen grid resilience against wildfires, harsh weather, and other natural catastrophes aggravated by the climate crisis. The energy department intends to offer $369.1 million a year to states, $82.3 million a year to Native American tribes, and $7.6 million annually to U.S. territories (a total of $459 million a year). The grants would be provided using a formula that considers the population size, land area, the likelihood and severity of disruptive occurrences, and the amount of money spent on mitigation measures in the past. It seeks input from states and tribal nations to help the DOE structure the formula awards by June 2, 2022. DOE is looking for feedback on expected application issues, technical help, and other essential data sources.
Click Here for More Information
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.
$12 Billion Dry Canyon Pumped Storage Project
Type: Generation - Hydro - Pumped Storage
Status: Proposed
Organization: PacifiCorp
Region: Idaho
Summary: On October 13, 2021, PacifiCorp applied for a preliminary permit to study the feasibility of the Dry Canyon Pumped Storage Project to be located near the town of Saint Charles in Bear Lake County, Idaho. The project would occupy federal lands managed by the U.S. Bureau of Land Management and the U.S. Fish and Wildlife Service. The proposed project would consist of the following:
- A roller-compacted concrete dam with a height of 530 feet and a crest length of 2,900 feet to form the upper reservoir.
- A rock-armored earthen levee with an average height of 22 feet and a length of 24,242 feet constructed within PacifiCorp’s Mud Lake Regulation Reservoir with two inlet/outlet structures to form the lower reservoir.
- An upper reservoir with a surface area of 182 acres and a storage volume of around 26,880 acre-feet.
- Three 22-foot-diameter, 6,650-foot-long concrete, and steel penstocks.
- A 660-foot-long and 110-foot-wide underground generating/pumping station chamber with six 300-megawatt (MW) generating/pumping units.
- Three 22-foot-diameter, 2,200-foot-long concrete-lined tailrace tunnels.
- A lower reservoir with a surface area of 1,390 acres and a storage volume of 30,680 acre-feet.
- An about 9-mile-long, 500-kilovolt (kV) transmission line from the powerhouse to a new substation that would interconnect to PacifiCorp’s existing or planned transmission lines.
- Appurtenant facilities.
The estimated annual generation of the Dry Canyon Project would be 5.4 terawatt-hours. The project is at the pre-application stage. NOI and PAD are expected to be filed in November 2025. FirmoGraphs estimates the project will cost $12 billion to build.
Contact FirmoGraphs to See the Document
$5 Billion High Plains Express Transmission Project
Type: Generation - Hydro - Pumped Storage
Status: Proposed
Organization: Various organizations
Region: Colorado
Summary: Transmission Project is a 2500-mile, 500-kilovolt (kV) transmission line originating at Laramie Station, Wyoming, and ending at Palo Verde, Arizona. The transmission project is a proactive plan for expanding and reinforcing the transmission grid in Wyoming, Colorado, New Mexico, and Arizona. The goal is to develop a high-voltage, backbone transmission system to enhance reliability and increase access to renewable and other diverse generation resources within regional energy resource zones. The project participants include Colorado Springs Utilities, Public Service Co. of New Mexico, Salt River Project, LS Power, Tri-State G&T, Western Area Power Administration, Xcel Energy, New Mexico Renewable Energy Transmission Authority, Wyoming Infrastructure Authority, Colorado Clean Energy Development Authority, Black Hills Corporation, and NextEra Energy Resources. The transmission line will cost about $5 billion and is scheduled for completion in 2023. The project is currently on hold due to market conditions.
Contact FirmoGraphs to See the Document
$2 Billion Orken Solar II Project
Type: Generation - Solar
Status: Proposed
Organization: Orken Solar, LLC
Region: Nevada
Summary: On February 23, 2022, Orken Solar, LLC filed with the Public Utilities Commission of Nevada a notice of an application to a federal agency for approval to construct the Orken Solar II Project. The project is located on approximately 9,563 BLM-managed lands in the Amargosa Valley area of Nye County, Nevada. The project is a solar and battery energy storage system (BESS) project totaling 2,000-megawatts (MW) of generating capacity. The duration of the BESS is expected to be between 4 and 8 hours. The project will utilize a 34.5-kilovolt (kV) collection system and a 230 kV step-up transformer at the project site. FirmoGraphs estimate that the construction will commence by 2023, and the project will cost $2.066 billion to build.
Contact FirmoGraphs to See the Document
1.5$ Billion Greater Cambridge Energy Program
Type: Transmission - New
Status: Proposed
Organization: NSTAR Electric Company
Region: Massachusetts
Summary: On March 10, 2022, NSTAR Electric Company d/b/a Eversource Energy proposed constructing eight new, underground 115-kilovolt (kV) electric transmission lines housed in five duct banks, totaling 8.3 miles. A new 115/14-kV substation in Cambridge and other ancillary modifications to the existing substation facilities in the Cities of Cambridge, Somerville, and the Allston/Brighton section of Boston would also be constructed. The project is located in the Cities of Cambridge, Boston, and Somerville and will connect to Eversource substations in each City. The project consists of the five “New Lines,” the “New Substation,” and necessary modifications at the existing Eversource Substations. Construction of the project is anticipated to begin in 2024. Construction is expected to occur over five years, with completion on a rolling basis beginning 2028 through 2029. The total estimated cost of the project is around $1.5 billion.
Contact FirmoGraphs to See the Document
1.5$ Billion Bonnie Clare Solar Project
Type: Generation - Solar
Status: Proposed
Organization: Bonnie Clare Solar, LLC
Region: Nevada
Summary: On January 3, 2022, Bonnie Clare Solar, LLC, filed with the Public Utilities Commission of Nevada a notice of an application to a federal agency for approval to construct the Bonnie Clare Solar Project consisting of a 1,500-megawatt (MW) photovoltaic solar electric generating facility, a battery energy storage system, a 230-kilovolt (kV) generation tie-line, and associated facilities to be located in Nye County, Nevada. The project will be located on BLM-managed land approximately 10 miles northwest of Beatty in Nye County, Nevada. The proposed project is a solar and battery energy storage system (BESS) project totaling 1500-MW of generating capacity. The project will utilize a 34.5 kV collection system and a 230 kV step-up transformer/substation at the project site. A 230 gen-tie line will run from the project site roughly 30 miles south of BLM land to the proposed substation. The project is in the development stage. Construction will begin 18-24 months at the conclusion of the environmental review pursuant to the National Environmental Policy Act. FirmoGraphs estimates the project will cost $1.5 billion.
Contact FirmoGraphs to See the Document
$1.4 Billion Eagle Mountain Pumped Storage Project
Type: Generation - Hydro - Pumped Storage
Status: Proposed
Organization: Eagle Crest Energy Company (ECE)
Region: California
Summary: In 2009, the Eagle Crest Energy Company (ECE) proposed to develop the Eagle Mountain Pumped Storage Project near the town of Eagle Mountain in Riverside County, California. The proposed hydroelectric pumped storage project will provide system peaking capacity and transmission system regulating benefits to regional electric utilities. The project will use off-peak energy to pump water from the lower reservoir to the upper reservoir during periods of low electrical demand and generate valuable peak energy bypassing the water from the upper to the lower reservoir through the generating units during periods of high electrical demand. The project will have 1,300-megawatts (MW) of generating capacity using reversible pump-turbine units, with four units of 325-MW each. A double circuit 500-kilovolt (kV) transmission line will convey power to and from the project to a new Interconnection Collector Substation near Desert Center, California. The project construction is likely to commence in 2023 and is expected to enter into commercial operation in 2027. The project cost is anticipated to be around $1.41 billion.
Contact FirmoGraphs to See the Document
$925 Million Trumbull Energy Center
Type: Generation Gas - Fired Combined Cycle
Status: Proposed
Organization: NSTAR Electric Company
Region: Ohio
Summary: On March 10, 2022, NSTAR Electric Company d/b/a Eversource Energy proposed constructing eight new, underground 115-kilovolt (kV) electric transmission lines housed in five duct banks, totaling 8.3 miles. A new 115/14-kV substation in Cambridge and other ancillary modifications to the existing substation facilities in the Cities of Cambridge, Somerville, and the Allston/Brighton section of Boston would also be constructed. The project is located in the Cities of Cambridge, Boston, and Somerville and will connect to Eversource substations in each City. The project consists of the five “New Lines,” the “New Substation,” and necessary modifications at the existing Eversource Substations. Construction of the project is anticipated to begin in 2024. Construction is expected to occur over five years, with completion on a rolling basis beginning 2028 through 2029. The total estimated cost of the project is around $1.5 billion.
Contact FirmoGraphs to See the Document
$649 Million Koshkonong Solar Energy Center
Type: Generation - Solar
Status: Proposed
Organization: Koshkonong Solar Energy Center, LLC
Region: Wisconsin
Summary: Early 2021, Koshkonong Solar Energy Center, LLC, a wholly-owned subsidiary of Invenergy, filed an Application for a Certificate of Public Convenience and Necessity with the Public Service Commission of Wisconsin for a Koshkonong Solar Energy Center project. The Center is a 300-megawatts (MW) solar electric generation facility and 165-MWbattery energy storage system (BESS) in the Towns of Christiana and Deerfield, Dane County, Wisconsin. The major components of the project would include:
- PV panels;
- power conversion units (an inverter and transformer);
- roughly 75 miles of 34.5-kilovolt (kV) underground collector circuits;
- a collector substation;
- a new around 0.84-mile 345 kV generator tie-line;
- a 165-MW BESS that would potentially sit on 15 acres of land.
The solar arrays, substation, and BESS would be fenced, and the applicant has provided 2,200 acres (3.45 square miles) of alternative solar array sites for evaluation and use if needed. The project will be built within a 6,384-acre Project Area. The permitting process will run through spring 2022. Construction will start in the fall of 2022 and is expected to be completed by the end of 2024. The project is valued at an estimated $649 million.
Contact FirmoGraphs to See the Document
$500 Million Rigel Solar Project
Type: Generation - Solar
Status: Proposed
Organization: EDF Renewables Development, Inc.
Region: Nevada
Summary: On February 4, 2022, EDF Renewables Development, Inc., submitted a Notice according to the Utility Environmental Protection Act of an Application to a Federal Agency to Construct the Rigel Solar Project, an up to 500-megawatt (MW) alternate current (ac) photovoltaic solar plant, 230-kilovolts (kV) Generation Tie Line, a battery energy storage system (BESS), and Ancillary Facilities. The project will be located around 7.5 miles south of the town of Beatty in rural Nye County, Nevada, on BLM-administered federal land. The project will be an up to 500 MW/ac photovoltaic solar facility, a 230 kV gen-tie line, and associated facilities, including a substation, an operation, maintenance building, an energy storage system, and other ancillary facilities. Construction of the project is expected to commence in the 1st quarter of 2024 and take 12 months to complete. FirmoGraphs estimates the project will cost $500 million to build.
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 April:
- On April 13, 2022, Vitol agreed to acquire 244.4 MW of operating wind farms from BlackRock.
- On April 15, 2022, ALLETE, Inc. acquired New Energy Equity for $165.5 million.
- On April 27, 2022, TotalEnergies announced acquisition of Core Solar, LLC that has a utility-scale solar and energy storage portfolio of 4 GW.
What We Are Reading
Here are some recent articles our team has been reading:
- Homer City Coal Plant to Keep All Three Units Operating
- MISO finds broad benefits to building $10.4B of transmission projects to support 53 GW of clean energy
- New York State siting board approves $345 million Genesee County solar farm
- Georgia Power exec: Closing coal ash ponds will still leave contaminated groundwater
- Online Coal Ash Analyzers Market Is Booming Worldwide | Realtime Group, Thermo Fisher Scientific, Advance Research Instuments, Dongfang Measurement & Control Technology, Scantech and more
- Company proposes largest offshore wind farm on West Coast #WA
- New York State approves contracts to bring renewable energy to NYC
- US EPA's plan for interstate smog might force even more early coal retirements
- NIPSCO begins work to retire ash ponds at Michigan City generating station
- Advocates pressure Biden administration EPA to tighten rules on coal power
- Burns & McDonnell Awarded Contract for Ocean Wind 1 Offshore Project
- Consumers Energy settles with stakeholders over Clean Energy Plan, pledges coal elimination by 2025
- Platte Generating Station to be retired within 10 years, replaced with natural gas, solar
- PUC approves Tri-State's plans to retire all Colorado coal plants before 2030
- Xcel Energy, parties discuss possible earlier retirement for Pueblo coal plant
- New York approves transmission contracts to advance Clean Path NY, Champlain Hudson projects
- Colorado’s largest coal-fired power plant could close four years earlier than proposed, documents show
- NIPSCO begins work to retire ash ponds at Michigan City generating station
- Consumers Energy to exit coal-fired generation in 2025 under agreement with Michigan AG, others
- Oregon regulators approve utility wildfire mitigation plans but question Idaho Power omissions
- Pueblo County approves early closure of Comanche 3 coal power plant
Meeting Planner
Organizations have shifted their event strategies during the COVID-19 pandemic. We are tracking these changing meeting plans.
Meetings in May and June 2022
- SEPA RE+ Southeast - May 11 - May 12, 2022
- ACAA World of Coal Ash - May 16 - May 19, 2022
- AWEA Cleanpower Conference and Exhibition - May 16 - May 18, 2022
- EEI Business Diversity Conference - May 17 - May 20, 2022
- ACEEE Energy Efficiency Finance Forum - May 23 - May 25, 2022
- PE PowerGen International - May 23 - May 25, 2022
- RFA International Fuel Ethanol Workshop & Expo - June 13 - June 15, 2022
- AEE West Energy Conference & Expo - June 15 - June 16, 2022
- IEEE - PES IEEE/AIAA Transportation Electrification Conference And Electric Aircraft Technologies Symposium (ITEC+EATS) - June 15 - June 17, 2022
- EEI EEI 2022 - June 20 - June 22, 2022
- ASES Annual National Solar Conference: Energy Transition with Economic Justice - June 21 - June 24, 2022
- MREA Annual Energy Fair: Clean Energy + Sustainable Living for All - June 24 - June 26, 2022
Early Bird Registration
- Event: IEEE - PES IEEE/AIAA Transportation Electrification Conference And Electric Aircraft Technologies Symposium (ITEC+EATS)
Dates: June 15 - June 17, 2022
Deadline for Early Registration: May 15, 2022 - Event: PE PowerGen International
Dates: May 23 - May 25, 2022
Deadline for Early Registration: May 22, 2022 - Event: AEE West Energy Conference & Expo
Dates: June 15 - June 16, 2022
Deadline for Early Registration: May 31, 2022 - Event: IEEE - PES General Meeting
Dates: June 17 - June 21, 2022
Deadline for Early Registration: June 10, 2022 - Event: ACEEE Summer Study on Energy Efficiency in Buildings
Dates: Aug. 21 - Aug. 26, 2022
Deadline for Early Registration: June 19, 2022