Our February 2024 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 in February:
Status: Effective in November 2024
Organization: Oklahoma State Legislature
Summary: On February 5, 2024, the Oklahoma State Legislature introduced a bill aiming to amend the Oklahoma Low Carbon Energy Initiative, which is a strategic program to create, advance, and promote new and existing energy research and development, use, supply chain activity, and infrastructure related to Oklahoma’s core energy competencies. The bill seeks to:
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Status: Effective in November 2024
Organization: Oklahoma State Legislature
Summary: On February 5, 2024, the Oklahoma State Legislature introduced a bill outlining regulations regarding the state's nuclear energy and coal-fired electric generation facilities. The act requires electric utilities that plan to retire coal-fired electric generation facilities to notify the Corporation Commission and submit a report on the replacement options, prioritizing advanced nuclear reactors. The act also authorizes qualified entities to construct nuclear power plants and secondary facilities for spent fuel, subject to approval by the Department of Environmental Quality and the Federal Nuclear Regulatory Commission. The act requires entities to submit a letter of intent and an application to the Department containing information on the proposed nuclear power plant and facility's construction, location, and benefits. The act directs the Corporation Commission and the Department to promulgate rules to create a regulatory environment for nuclear power in Oklahoma. The act takes effect on November 1, 2024.
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Status: Proposed
Organization: California Public Utilities Commission (PUC)
Summary: On February 15, 2024, the California Public Utilities Commission (CPUC) announced a new plan to accelerate California's transition to clean energy while prioritizing affordability. This plan sets ambitious targets for reducing greenhouse gas (GHG) emissions, aiming for a 60 percent reduction compared to 2020 levels by 2035. The CPUC mandates the construction of over 56 gigawatts (GW) of new clean energy resources by 2035, including 4.5 GW of offshore wind power. The decision also recommends that the California Independent System Operator (CAISO) base transmission investments on the portfolio to achieve the GHG reduction goal.
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Status: Proposed
Organization: West Virginia State Legislature
Summary: On February 19, 2024, the West Virginia Legislature passed a bill that proposes modification of the renewable energy facilities program in the state, which would allow electric utilities to plan, design, construct, purchase, own, and operate renewable electric-generating facilities and energy storage resources on eligible sites. The bill aims to:
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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 - Solar
Status: Proposed
Organization: Kings County, California
Region: California
Summary: Kings County Community Development Agency is proposing to construct, operate, and decommission a 300-megawatt (MW) commercial solar and battery storage facility to be located at 18352 Avenal Cutoff Rd., Stratford, Assessor’s Parcel Numbers 026-010-028, 026-300-004, -031, -032, -033, -043, -044, 026-320-002, and -003. The project proposal includes an electrical substation, battery storage, an Operations & Maintenance facility, telecommunication facilities, and a meteorological data collection system. The proposed battery storage consists of 300 battery containers and has a capacity of 1200 MW hours. In addition, a new 230-kV gen-tie line extends from the project substation 2.5 miles north to the existing PG&E Mustang switching station. The Project is planned to be constructed over a 12-month period in 2025 and 2026. According to the 2023 Annual Technology Baseline (ATB), Solar projects with energy storage systems will cost $1,975 per kW. Based on this value, FirmoGraphs estimates the Project will cost $592.5 million.
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Type: Generation - Solar
Status: Proposed
Organization: Fiddle Falls Solar, LLC
Region: Mississippi
Summary: Fiddle Falls Solar, LLC submitted filings on February 02, 2024, to the Mississippi Public Service Commission for the Fiddle Falls Solar Project. The Project is a 200 megawatts (MW) solar electric generating facility with a 200 megawatt-hours (MWh) four-hour battery energy storage system on approximately 2,131.7 acres in Pontotoc County, Mississippi. The Project will connect to a newly constructed on-site substation where the energy will be sent downstream through an existing transmission line and connect with TVA's existing McGregor Chapel switching station and the Oxford 161kV substation. The capital investment necessary to develop and construct the Facility is estimated at least $250 million.
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Type: Generation - Solar
Status: Proposed
Organization: NextEra Energy Resources
Region: Arkansas
Summary: Forgeview Solar, LLC, a subsidiary of NextEra Energy Resources, will construct the proposed Forgeview Solar Project. The Project is a solar facility with 200 megawatts (MW) of alternating current on approximately 1,800 acres in Mississippi County, Arkansas. The Project is scheduled to begin operations by the end of 2025. According to the 2023 Annual Technology Baseline (ATB), Solar projects will cost $1,248 per kW. Based on this value, FirmoGraphs estimates the Project will cost $249.6 million.
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Type: Generation - Solar
Status: Proposed
Organization: Potomac Hills Energy, LLC
Region: West Virginia
Summary: Potomac Hills Energy, LLC submitted filings on February 8, 2024, to the West Virginia Public Service Commission for the Potomac Hills Solar Generation Facility. The Project is a 100-megawatt (MW) generating facility and a 200-megawatt-hour (MWh) battery energy storage system on approximately 650 acres in Mineral County, West Virginia. The construction will commence in late 2026 and conclude in 2027, with a general construction timeline of six to nine months. The Applicant estimates that the Facility represents an investment of approximately $243 million.
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Type: Generation - Solar
Status: Proposed
Organization: Upper Michigan Energy Resources, Corp
Region: Michigan
Summary: Upper Michigan Energy Resources, Corp submitted filings on December 1, 2023, to the Michigan Public Service Commission for the Renegade Solar Project. The Project is a 100 megawatts (MW) solar electric generating facility on approximately 4,000 acres of privately owned land in Delta County, Michigan. The Project will be interconnected with American Transmission Company’s 138 kilovolt (kV) transmission system. The construction will commence on October 15, 2024, and is expected to be completed on December 31, 2026, costing $217.5 million.
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The following M&A transactions in the Power Generation and Supply Industry stand out in the month of February:
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 |
American Council for an Energy-Efficient Economy | ACEEE Hot Water Forum & Hot Air Forum | 2024-03-12 | 2024-03-14 |
Edison Electric Institute |
2024-04-15 |
2024-04-19 |
|
Microgrid Knowledge |
2024-04-22 |
2024-04-24 |