Our January 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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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.
$874 Million Sandy Hill and Sand Dune Solar
Type: Generation - Solar
Status: Proposed
Organization: EE North America
Region: Colorado
Summary: EE North America has acquired a majority stake in two solar projects in Saguache County, Colorado. The projects are Sandy Hill Solar and Sand Dune Solar. These projects are solar facilities with 700 megawatts (MW) capacity interconnecting with the Public Service of Colorado network. The construction is expected to commence in 2025. According to the 2023 Annual Technology Baseline (ATB), Solar projects will cost $1,248 per kW. Based on this value, FirmoGraphs estimates Projects will cost $873.6 million.
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$258 Million Lynn Bark Energy Center
Type: Generation - Solar
Status: Proposed
Organization: Lynn Bark Energy Center, LLC
Region: Kentucky
Summary: Lynn Bark Energy Center, LLC proposes constructing up to 200 megawatts (MW) solar electric generating facility on approximately 1,497 acres of reclaimed mine land in the Lynn Bark Fork area of Coldwater in Inez, Martin County, Kentucky. The facility will include 490,566 photovoltaic solar panels, associated racking, 88 inverters, and a project substation transformer. The Project will interconnect with Kentucky Power’s 138-kilovolt Inez Substation on the former Martiki strip mine site. According to the 2023 Annual Technology Baseline (ATB), Solar projects will cost $1,290 per kW. Based on this value, FirmoGraphs estimates the Project will cost $258 million.
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$161 Million PVS 2 Solar Facility
Type: Generation - Solar
Status: Proposed
Organization: PVS 2, LLC
Region: Idaho
Summary: On December 5, 2023, Idaho Power and PVS 2 entered into a PPA to sell and purchase 125 MW of renewable solar electric generation for twenty years from the Commercial Operation Date, scheduled to be December 31, 2026. Under the terms of the PPA, PVS 2 will build, own, operate, and maintain a 125-megawatt alternating current (“AC”) solar photovoltaic generation facility and supply the output to Idaho Power’s system. According to the 2023 Annual Technology Baseline (ATB), Solar projects will cost $1,290 per kW. Based on this value, FirmoGraphs estimates the Project will cost $161.25 million.
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$142 Million Sonnedix Solar Fountain Project
Type: Generation - Solar
Status: Proposed
Organization: Sonnedix Power Holdings
Region: Colorado
Summary: Guzman Energy and Sonnedix have executed a power purchase agreement for the 110 Megawatts (MW) Sonnedix Solar Fountain project. The project site is planned for development on approximately 1,840 acres of land owned by the State of Colorado in El Paso County and is expected to be operational in early 2025. Sonnedix will develop, build, operate, and maintain the solar facility as the project sponsor. As an off-taker, Guzman Energy will purchase 100% of the power generated by Sonnedix Solar Fountain for its power portfolio, which is used to serve current and future Guzman Energy wholesale customer power loads. According to the 2023 Annual Technology Baseline (ATB), Solar projects will cost $1,290 per kW. Based on this value, FirmoGraphs estimates the Project will cost $141.9 million.
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$65 Million Yuma Solar PV Park 2
Type: Generation - Solar
Status: Proposed
Organization: Community Power Group
Region: Colorado
Summary: Community Power Group will construct the proposed Yuma Solar PV Park 2. The Project is a solar facility located in Colorado with 50 megawatts (MW) of alternating current. The construction will commence in 2024 and is expected to enter commercial operation in 2025. According to the 2023 Annual Technology Baseline (ATB), Solar projects will cost $1,290 per kW. Based on this value, FirmoGraphs estimates the Project will cost $64.5 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 11, 2024, Chesapeake Energy Corporation and Southwestern Energy Company announced that they have entered into an agreement to merge in an all-stock transaction valued at $7.4 billion.
- On January 15, 2024, Talos Energy Inc. announced the execution of definitive agreements to acquire QuarterNorth Energy Inc. for $1.29 billion. QuarterNorth is a privately-held U.S. Gulf of Mexico exploration and production company with ownership in several prolific offshore fields.
- On January 22, 2024, Sunoco LP and NuStar Energy LP announced that the parties have entered into a definitive agreement whereby Sunoco will acquire NuStar in an all-equity transaction valued at approximately $7.3 billion, including assumed debt.
What We Are Reading
Here are some recent articles our team has been reading:
- PNM Resources Announces Avangrid Termination of Merger Agreement, Schedules Financial Update
- Power generation capacity increased by almost 20% in 2023
- Pattern Energy secures $11B in financing, starts full construction on SunZia wind, transmission projects
- Xcel Energy retires one of three coal units at Sherco plant
- Louisiana Launches Offshore Wind Farms
- Dominion seeks to extend licenses to operate Millstone power plant until 2055-65
- TRC Companies, Inc. Acquires Locana, A Global Leader in Enterprise Geospatial Solutions and Services
- Spearmint Energy brings its first Texas battery energy storage plant online
- Solar expected to be top source of new US generation through 2025, adding 79 GW: EIA
- FERC approves gas pipeline needed for TVA plan to shutter 2.5-GW coal-fired power plant
- EDP Renewables North America Announces Operations Commencement of Sharp Hills Wind Farm in Alberta, Canada
- New Jersey approves two offshore wind projects totaling 3.7 GW
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 2024
|
Name Organization |
Name Meeting Key |
Date Start |
Date End |
| Power Engineering | PE GridTECH Connect Forum Southeast | 2024-02-26 | 2024-02-27 |
| Energy, Utility, Environment Conference | EUEC Energy, Utility & Environment Conference | 2024-02-27 | 2024-02-29 |
| American Council for an Energy-Efficient Economy | ACEEE Hot Water Forum & Hot Air Forum | 2024-03-12 | 2024-03-14 |
Call for Papers
- Event: AEE World Energy Conference & Expo
Dates: September 24, 2024 - September 27, 2024
Deadline for Early Registration: February 16, 2024