Our January 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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Industry Drivers
Our data team tracks new and updated industry drivers. Here are some recent drivers we have been following this month:
Administration Announces Funding for Community-Centered Clean Energy Programs Across the U.S. And $9 Billion for Home Rebates
Status: Effective
Organization: Department of Energy (DOE)
Summary: On January 18, 2023, the Department of Energy (DOE) released guidance to state, local, and tribal governments for applying for funding through the Energy Efficiency and Conservation Block Grant (EECBG) Program. The DOE also issued a Request for Information (RFI) for new Home Energy Rebate Programs. The EECBG program appropriates $430 million, funded by Bipartisan Infrastructure Law (BIL), for green energy projects and programs in local communities across the country. At the same time, DOE released RFI for seeking input for $9 billion in grant funding through the Inflation Reduction Act (IRA) for Home Energy Programs, which is focused on cutting energy costs in homes through energy efficiency and electrification of home appliances and equipment. The deadline for submitting applications to the RFI is March 3, 2023.
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NuScale Small Modular Reactor Design Certification
Status: Effective
Organization: US Nuclear Regulatory Commission (NRC)
Summary: On January 19, 2023, the US Nuclear Regulatory Commission (NRC) issued the 10 CFR Part 52 rule entitled NuScale Small Modular Reactor Design Certification. The rule allows utility companies to apply for building and operating light 50 megawatts (MW) SMR reactors to generate clean electricity. The NuScale’s SMR power plant can house 12 power modules, one-third of the size of large-scale reactors. Moreover, the rule will be effective from February 21, 2023.
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Interior Department Takes Steps to Strengthen Offshore Clean Energy Development
Status: Proposed
Organization: Bureau of Ocean Energy Management (BOEM)
Summary: On January 12, 2023, the Bureau of Ocean Energy Management (BOEM) within the Department of the Interior (DOI) issued a Notice of Proposed Rulemaking (NPR) to update regulations for developing green energy development on the US Outer Continental Shelf (OCS). The proposed rule contains eight major components and will provide a fair return to the taxpayers of the US by renewing the current regulations, streamlining the complex and burdensome processes, clarifying the ambiguous provisions, enhancing the compliance provisions, and removing technical errors and inconsistencies. In addition, BOEM estimated that proposed reforms would save developer costs approximately $1 billion over the next 20 years.
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Public Utility Commission of Texas Unanimously Adopts Performance Credit Mechanism Reliability Service
Status: Proposed
Organization: Public Utility Commission of Texas (PUCT)
Summary: On January 19, 2023, the Public Utility Commission of Texas (PUCT) unanimously adopted the Performance Credit Mechanism (PCM) electric market reliability service. The PUCT also laid off guidelines for implementation to strengthen accountability, affordability, and reliability of the Electric Reliability Council of Texas (ERCOT) electric grid. The PCM meets the requirements of recently enacted Senate Bill 3, which directs PUCT to develop grid reliability standards for the electric grid during low non-dispatchable production times. In addition, E3 estimated that PCM would cost consumers $460 million annually.
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National Environmental Policy Act Guidance on Consideration of Greenhouse Gas Emissions and Climate Change
Status: Effective
Organization: Council on Environmental Quality (CEQ)
Summary: On January 9, 2023, the Council on Environmental Quality (CEQ) issued interim guidance to help agencies in analyzing the climate change and greenhouse gas (GHG) effects of their proposed actions under the National Environmental Policy Act (NEPA). The guidance requires agencies to quantify the direct and indirect impact of the GHG emissions of the proposed action, no action alternative, and any reasonable alternatives through the available social cost of GHG estimate to put the dollar value of the action into context. Moreover, the agencies can follow these guidelines immediately while CEQ seeks public feedback until March 10, 2023.
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N.J. Implements New Rules Targeting Power Plants
Status: Effective
Organization:
Summary: On January 4, 2023, the State of New Jersey Department of Environmental Protection (NJDEP) adopted new regulations which require power plants to limit their carbon emissions below 860 pounds per megawatt hour, restrict the applications of fossil fuel generating units, and ban the sale of certain fuels. The new regulations focus on power plants seeking permits, expansion, or renewals in low-income, minority, or overburdened communities. Furthermore, applicants seeking a permit to house the plant in those communities will have to submit a statement regarding its effects on the residents and will need to hold public hearings.
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Notable Projects
FirmoGraphs tracks notable projects from the proposal stage to becoming effective. Here are some of the recent notable projects we have been tracking.
$4 Billion Wilbarger County Green Hydrogen Facility
Type: Power Generation
Status: Proposed
Organization: AES, Corp
Region: Texas
Summary: AES, Corp will construct the proposed Wilbarger County Green Hydrogen Production Facility in Wilbarger County, Texas. The Project includes approximately 1.4 gigawatts (GW) of wind and solar power generation and electrolyze capacity capable of producing over 200 metric tons per day (MT/D) of green hydrogen. The facility is expected to begin commercial operation in 2027, costing $4 billion.
Contact FirmoGraphs to See the Document
$2 Billion New Mexico North Path Transmission Project
Type: Transmission - New
Status: Proposed
Organization: Invenergy Renewables, LLC
Region: New Mexico
Summary: Invenergy Renewables, LLC will construct the New Mexico North Path Transmission Project in New Mexico. The project is a 400-mile transmission line with up to four gigawatts of clean, domestically produced energy from northeastern New Mexico to the Four Corners region. The construction will commence in 2025 and is expected to begin commercial operations in 2028, costing $2 billion.
Contact FirmoGraphs to See the Document
$1.5 Billion Iron Mountain Solar Project
Type: Generation - Solar
Status: Proposed
Organization: Estuary Development Partners, LLC
Region: Nevada
Summary: Estuary Development Partners, LLC submitted filings on January 5, 2023, to the Nevada Public Utilities Commission for the proposed Iron Mountain Solar Project on 7,327 acres in Lander County, Nevada. The Project is a solar facility with a 1,000 megawatts (MW) capacity that includes a Battery Energy Storage System of up to 4,000 MW-hours capacity and approximately 25 miles of 525 kilovolts generation tie line. The construction will commence in the third quarter of 2023 and is expected to be completed in the first quarter of 2028, costing $1.5 billion.
Contact FirmoGraphs to See the Document
$970 Million Northern Minnesota Double-Circuit 345-kV Transmission Line
Type: Transmission - New
Status: Proposed
Organization: JV Minnesota Power
Region: Minnesota
Summary: JV Minnesota Power, Great River Energy will construct the Northern Minnesota Double-Circuit 345-kilovolt (kV) Transmission Line in Minnesota. The 345 kV transmission line will run from Minnesota Power's Iron Range Substation in Itasca County to Great River Energy's Benton County Substation in Benton County, replacing the existing Great River Energy transmission line from Benton County to a new substation in Sherburne County. The construction will commence in 2023 and is expected to be in service by 2030, costing $970 million.
Contact FirmoGraphs to See the Document
$840 Million Parker Butte Solar Project
Type: Generation - Solar
Status: Proposed
Organization: 339CH 8me, LLC
Region: Nevada
Summary: 339CH 8me, LLC submitted filings on January 5, 2025, to the Nevada Public Utilities Commission for the proposed Parker Butte Solar Project on 1,765 acres in Lyon County, Nevada. The Project is a solar facility with 550 megawatts (MW) capacity and up to 275 MW Battery Energy Storage System (BESS). It will also include an approximately 12.5-mile long 345 kilovolts (kV) generation tie line, which will interconnect with the electric grid at the Fort Churchill substation. The construction will commence in 2025 and is expected to enter commercial operation in 2027, costing $840 million.
Contact FirmoGraphs to See the Document
$615 Million Parker Butte Solar Project
Type: Generation - Solar
Status: Proposed
Organization: ESC Harrison County Power, LLC
Region: West Virginia
Summary: ESC Harrison County Power, LLC submitted filings on January 17, 2017, to the West Virginia Public Utilities Commission for the Gas-Fired Electric Generating Facility in Harrison County, West Virginia. The Project will utilize a General Electric combustion turbine operating in a gas turbine combined cycle configuration. The exhausted heat energy from the combustion turbine will be directed through a Heat Recovery Steam Generator (HRSG) to produce high-pressure steam and achieve higher electric power output. Under the same conditions, duct firing of the HRSGs could be employed to increase the facility's generating capacity to at least 580 MW. Under favorable conditions, the plant could produce 630MW. The Project will commence on October 27, 2025, and completed on October 27, 2030, costing $615 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 18, 2023, Chesapeake Energy Corporation (NASDAQ:CHK) announced that it has entered into an agreement to sell the Brazos Valley region of its Eagle Ford asset to WildFire Energy I LLC for $1.4 billion.
- On January 24, 2023, Matador Resources Company announced that a wholly-owned subsidiary of Matador has entered into a definitive agreement to acquire Advance Energy Partners Holdings, LLC, including certain oil and natural gas producing properties and undeveloped acreage located in Lea County, New Mexico and Ward County, Texas, for $1.6 billion.
- On January 27, 2023, ECP announced it had completed the acquisition of Biffa PLC, the UK's leading integrated waste and recycling firm, in a ~ £2.1 billion enterprise value transaction.
What We Are Reading
Here are some recent articles our team has been reading:
- Solar Alliance energizes first two company-owned solar projects in New York
- AEP Ohio seeks approval for electric security plan with $2.2B in reliability spending
- Otter Tail Acquires Ashtabula III Wind Energy Center in North Dakota
- Hannon Armstrong Invests in a 1.3 GW Renewables Portfolio Owned and Operated by AES
- FERC approves PacifiCorp’s proposed interconnection process for replacing retired generation
- Louisiana, North Carolina, Colorado would benefit most from stronger building energy codes: ACEEE
- Qcells to invest $2.5B to build complete US solar supply chain, expand annual capacity to 8.4 GW
- NRG Energy Sells Astoria Power Plant to Offshore Wind Company for $216M
- Duke Energy begins operating 207 MW wind farm in Iowa
- BP builds green 134 megawatt solar energy project in Ohio
- Georgia Power delays Vogtle 3 start after discovering vibrations in plant’s cooling system
- A New Wind Turbine Recycling Plant Is Going Up In Iowa
- Georgia solar expansion part of broader U.S. strategy
- Oregon Department of Energy Announces New Round of $12 Million in Grant Funding for Renewable Energy and Energy Resilience Projects
- California greenlights more than 800 MW of storage and solar to bolster power grid reliability
- Energy department announces $52M in funds for clean manufacturing R&D
- DOE Launches New $50 Million Program to Help Communities Meet Their Clean Energy Goals
- HUD reintroduces rule to combat housing discrimination
- California PUC proposal would order an additional 4 GW of clean energy resources to bolster grid reliability
- DOE and FEMA Release One-Year Progress Report on Joint Effort to Modernize Puerto Rico’s Grid With 100% Clean Energy
- National Offshore Wind Research and Development Consortium Announces U.S. Offshore Wind Supply Chain Road Map
- Duke Energy Sustainable Solutions to build new solar plant in El Paso County, Colo.
- Renewables Projected to Soon Be One-Fourth of US Electricity Generation. Really Soon
- US must invest $22.4B in domestic supply chain to reach 30 GW of offshore wind goal: report
- U.S. Department of Energy Awards $118 Million to Accelerate Domestic Biofuel Production
- Energy Harbor closing W. H. Sammis Power Plant, laying off 140 employees
- Carlyle, Schneider joint venture AlphaStruxure plans 11.4-MW microgrid at JFK airport terminal
- NRC Rejects New Review of Diablo Canyon Nuclear Plant Operating Extension
- Biden-Harris Administration Announces $47 Million to Develop Affordable Clean Hydrogen Technologies
- U.S. Department of Energy Awards $118 Million to Accelerate Domestic Biofuel Production
- WTTC and Trip.com Group global traveller report reveals shift towards sustainable travel
- DOE Invests More Than $130 Million to Lower Nation’s Carbon Pollution
- Xcel plans to install Form Energy’s multiday storage at retired coal plant sites, eyes green hydrogen pilots
- Eversource, Equinor, RWE, others bid on New York’s 2-GW offshore wind solicitation
- EDF Renewables North America Places 1 Gigawatt of Projects into Service and Starts 2023 with a Robust Portfolio
Meeting Planner
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.
Meetings in February and March 2023
|
Name Organization |
Name Meeting Key |
Date Start |
Date End |
|
International City/County Management Association |
ICMA Local Government Reimagined Conference: The Call of Public Service |
2023-02-22 |
2023-02-24 |
|
Smart Electric Power Alliance |
SEPA RE+ Northeast |
2023-02-22 |
2023-02-23 |
|
Association of Energy Services Professionals, International |
2023-02-27 |
2023-03-02 |
|
|
Renewable Fuels Association |
2023-02-28 |
2023-03-02 |
|
|
American Council on Renewable Energy |
2023-03-08 |
2023-03-09 |
|
|
Energy Central |
2023-03-28 |
2023-03-29 |
|
|
Solar Media Ltd |
2023-03-28 |
2023-03-29 |
|
|
Association of Energy Engineers |
2023-03-29 |
2023-03-30 |
Early Bird Registration
- Event: IEEE - PES Grid Edge Technologies Conference and Exposition
Dates: Apr. 10 - Apr. 13, 2023
Deadline for Early Registration: Mar. 13, 2023
Call for Papers
- Event: SEPA RE+
Dates: Sept. 11 - Sept. 14, 2023
Deadline for Call for Papers: Mar. 31, 2023