Our April 2023 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: California Independent System Operator
Summary: On April 3, 2023, the California Independent System Operator (CAISO) released its draft 2022-2023 Transmission Plan, which includes 46 transmission projects, 24 of which are required for grid reliability and 22 for renewable energy requirements. The plan, estimated to cost $9.29 billion, reflects California’s commitment to meeting its clean energy goals, including electrifying the transportation sector and building the environment. According to CAISO, the state will need to add over 40 GW of new resources to the grid by 2032 and over 70 GW by 2033 due to its clean energy goals, climate change impacts, and the electrification of transportation and buildings. In addition, CAISO’s draft plan includes a more proactive approach to aligning transmission planning with resource procurement and interconnection queuing. The California Public Utilities Commission (CPUC) will provide the grid operator with resource planning information. The ISO will develop a final transmission plan, begin project work, and communicate areas with transmission capacity to power providers.
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Status: Effective
Organization: Texas State Legislature
Summary: On April 5, 2023, the Texas State Senate passed SB 6, which would establish the $10 billion Texas Energy Insurance Program (TEIP), which would provide funding mechanisms for constructing and operating electric generating facilities capable of delivering 10,000 MW. The bill is designed to promote the development of new power plants and improve the state's energy infrastructure by increasing investment in these projects. Additionally, the legislation aims to provide insurance to cover the risks associated with building and operating these facilities. Surcharges on retail electric bills and other sources, such as state appropriations and private donations, would fund the program. Finally, the bill includes oversight and reporting requirements provisions to ensure the program's transparency and effectiveness.
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Status: Proposed
Organization: U.S. Environmental Protection Agency (EPA)
Summary: On April 5, 2023, US Environmental Protection Agency (EPA) proposed strengthening and updating the Mercury and Air Toxics Standards (MATS) for coal-fired power plants. The proposed rule aims to reduce hazardous air contaminant emissions and implement updated air pollution control and emission monitoring technologies.
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Status: Proposed
Organization: Maryland State Legislature
Summary: On April 10, 2023, Maryland State Senate passed SB 781, also known as the Promoting Offshore Wind Energy Resources Act, which aims to promote the development of Maryland offshore wind energy resources. The bill sets ambitious goals for procuring offshore wind energy, installing 1,200 megawatts (MW) of capacity by 2030 and 5,000 MW by 2035. The bill requires the Maryland Public Service Commission to establish a competitive process for procuring offshore wind energy resources, with a preference for projects that create jobs and economic development opportunities in the state. It also includes provisions for a workforce development program to support the training and employment of Maryland residents in the offshore wind industry. To finance the procurement of offshore wind energy, the bill authorizes the issuance of ratepayer-backed bonds and establishes a Green Energy Fund to support the development of renewable energy resources in the state.
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Status: Proposed
Organization: Michigan State Legislature
Summary: On April 12, 2023, the Clean Energy Future Plan was introduced before the Michigan's Senate. The plan includes range of measures, such as phasing out the electrical grid by phasing out coal-fired electricity generating plants by 2030, developing a 100% clean energy standard by 2035, and achieving at least 2% annual energy efficiency savings. The plan also seeks to expand the purview of the Michigan Public Service Commission, and adopt a Clean Fuels Standard. Additional bills are being developed, including legislation to promote purchasing and using electric vehicles (EVs) and make energy more affordable for Michiganders.
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FirmoGraphs tracks notable projects from the proposal stage to becoming effective. Here are some of the recent notable projects we have been tracking.
Type: Generation - Onshore Wind
Status: Effective
Organization: NextEra Energy Resources, LLC
Region: Kansas
Summary: NextEra Energy Resources, LLC has been helping fuel Kansas state's economic growth and quality of life and moving the county toward energy independence. They have invested $1.8 billion in Kansas, including eight operational wind energy centers like High Banks Wind. The approved Project is an innovative wind project proposed for Washington and Republic Counties in Kansas that will have a capacity of approximately 600 megawatts of clean, renewable energy. The Project consists of Up to 233 GE wind turbines capable of generating around 600 megawatts (MW) of clean, renewable energy. The Project started on January 01, 2023, and is expected to be completed on December 31, 2023, costing $1 billion.
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Type: Compressor Station
Status: Proposed
Organization: LG&E and KU Energy, LLC
Region: Kentucky
Summary: LG&E and KU Energy, LLC submitted filings on December 15, 2022, to the Kentucky Public Utilities Commission for the Brown NGCC. The proposed Project is constructing a 621 megawatts net summer rating natural gas combined cycle (NGCC) unit utilizing the latest advanced J or H-Class gas turbine technology in a 1x1 configuration at Mill Creek and E.W. Brown for a total installed capacity of 1,242 megawatts net summer rating. The construction is expected to be completed on June 01, 2028, costing $700 million.
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Type: Pipeline- Gas
Status: Proposed
Organization: LG&E and KU Energy, LLC
Region: Kentucky
Summary: LG&E and KU Energy, LLC submitted filings on December 15, 2022, to the Kentucky Public Utilities Commission for the Mill Creek NGCC. The proposed Project is constructing a 621 megawatts net summer rating natural gas combined cycle (NGCC) unit utilizing the latest advanced J or H-Class gas turbine technology in a 1x1 configuration at Mill Creek and E.W. Brown for a total installed capacity of 1,242 megawatts (MW) net summer rating. The construction is expected to be completed on June 1, 2027, costing $662 million.
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Type: Generation - Solar
Status: Proposed
Organization: Double Black Diamond Solar Power, LLC
Region: Illinois
Summary: Double Black Diamond Solar Power, LLC submitted filings on March 16, 2023, to the Federal Energy Regulatory Commission for Double Black Diamond Solar Power. The proposed Project is an approximately 593 megawatts nameplate capacity solar-powered electric generation facility in Morgan County and Sangamon County, Illinois. The Facility will comprise photovoltaic panels and associated structures, facilities, and equipment necessary for power generation at wholesale. The construction will start on June 21, 2023, and is expected to be completed on December 31, 2024, costing $535 million.
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Type: Energy Storage, BESS, Stand-alone
Status: Proposed
Organization: Five Wells Solar Center LLC
Region: Texas
Summary: Five Wells Solar Center LLC submitted filings on March 17, 2023, to the Texas Public Utilities Commission for the proposed Five Wells Storage Project in Bell County, Texas. The Project comprises 82 inverters rated at 3.594 megavolt-amperes (MVA), each with a total nameplate capacity of 294.71 MVA. The gross output for the Project will be 262.5 megawatts (MW) at generator terminals and 260 MW at the 34.5 kilovolts (kV) bus, with a 259 MW output at Point of Interconnection. The Project's commercial operation is expected to begin on December 29, 2023. According to the 2021 Annual Technology Baseline (ATB), stand-alone energy storage projects will cost $ 1,119 per kW. Based on this value, FirmoGraphs estimates the Project will cost $290 million.
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The following M&A transactions in the Power Generation and Supply Industry stand out in the month of April:
Here are some recent articles our team has been reading:
In this over-digitized age, there is no replacement for 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. Also, FirmoGraphs has recently implemented a free-of-charge service for tracking notable infrastructure events.
Name Organization |
Name Meeting Key |
Date Start |
Date End |
Energy Central |
2023-05-10 |
2023-05-12 |
|
Smart Electric Power Alliance |
SEPA RE+ Southeast |
2023-05-17 |
2023-05-18 |
American Wind Energy Association |
2023-05-22 |
2023-05-25 |
|
American Council on Renewable Energy |
2023-06-07 |
2023-06-08 |
|
Energy Central |
2023-06-07 |
2023-06-08 |