Our July 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 in June:
Status: Proposed
Organization: House Energy and Commerce Committee
Summary: On July 19, 2023, the House Energy and Commerce Committee announced a subcommittee legislative hearing to be held on July 26, 2023, and discuss boosting American leadership in self-driving technology. The hearing will discuss two draft bills: the SELF-DRIVE Act and another act to update and create new safety standards for automated vehicles. The legislation aims to modernize motor vehicle safety standards, establish a uniform regulatory framework for automated vehicles, enhance safety, improve lives and mobility and surpass China in the global competition for the industry.
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Status: Proposed
Organization: State of Maine Legislature
Summary: On July 27, 2023, the State of Maine Legislature enacted LD 1895, an act relating to the procurement of energy from offshore wind resources in the Gulf of Maine. The bill has the following main objectives:
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Status: Proposed
Organization: Federal Energy Regulatory Commission (FERC)
Summary: On July 27, 2027, the Federal Energy Regulatory Commission (FERC) issued a final rule that aims to improve the transmission grid in the United States by making it easier for new energy resources to connect. The rule addresses several challenges that have hindered the interconnection process, such as delays, uncertainties, inefficiencies, and discrimination. The rule introduces the following reforms:
The rule is expected to facilitate the integration of more diverse and sustainable energy sources into the grid, such as renewable, distributed, and storage resources. The rule also supports the goals of enhancing the reliability, resilience, and affordability of electricity for consumers. It will take effect 75 days after publication in the Federal Register.
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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 with Co-located Energy Storage
Status: Proposed
Organization: AES, Corp.
Region: California
Summary: AES, Corp. proposed constructing the Bellefield Energy Storage Project located on approximately 8,300 acres of private land in Kern County, California. The project is approximately 2 gigawatts (GW) in two phases, each with 500 megawatts (MW) of solar and up to 500 MW of four-hour battery energy storage. In addition, a 14-mile transmission line will be constructed connecting the project to the Southern California Edison Windhub Substation. Construction will commence in the third quarter of 2023 and is expected to be completed by 2026. According to the 2022 Annual Technology Baseline (ATB), solar with co-located battery projects will cost $1,729 per kW. Based on this value, FirmoGraphs estimates the project will cost nearly $3.5 billion.
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Type: Power Tran
Status: Proposed
Organization: AES, Corp.
Region: New York
Summary: AES, Corp. will construct the Propel NY Energy Transmission Project, a new 90-mile high voltage electric transmission line and facilities consisting of 3 new underground 345 kilovolts (kV) alternating current tie lines connecting Long Island with the remaining New York Control Area, a 345 kV transmission backbone across western/central Long Island. It will also include construction or modifications at 11 substations.
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Type: Transmission line
Status: Proposed
Organization: Minnesota Power
Region: Minnesota
Summary: Minnesota Power submitted filings on June 1, 2023, to the Minnesota Public Utilities Commission for the HVDC Modernization Project that runs from Center, North Dakota, to Hermantown, Minnesota. The project replaces the aging critical infrastructure and modernizes the terminal stations of its 465-mile line. It will also involve the construction of a new St. Louis County 345 kilovolts (kV)/230 kV substation located less than one mile west of the current Arrowhead Substation. The construction will commence in 2024 and is expected to be completed by December 31, 2029, costing $940 million.
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Type: Other Natural Gas
Status: Proposed
Organization: Corpus Christi Liquefaction, LLC
Region: Texas
Summary: Corpus Christi Liquefaction, LLC submitted filings on March 30, 2023, to the Federal Energy Regulatory Commission for the CCL Midscale Trains 8 & 9 Project. The project includes two midscale liquefaction trains, capable of liquefying up to approximately 170 Bcf/y11 of domestically produced natural gas export and supporting infrastructure which will be interconnected and operated, on an integrated basis, with the existing LNG storage tanks, control buildings, marine facilities, and other ancillary facilities. The construction will commence in June 2024 and is expected to be completed in December 2031, costing $818 million.
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Type: Battery Energy Storage System, Stand-Alone
Status: Proposed
Organization: Anole Energy Storage, LLC
Region: Texas
Summary: Anole Energy Storage, LLC submitted filings on May 9, 2023, to the Texas Public Utilities Commission for the Anole Battery Energy Storage System (BESS) in Dallas County, Texas. The project comprises 49 inverters, each rated at 5.85 megavolt-amperes (MVA) with a total gross capacity of 286.65 MVA. The plant will be dispatched at +/- 242.71 megawatts (MW), measured at the generator terminals. The project is expected to be in service on April 18, 2024. According to the 2022 Annual Technology Baseline (ATB), stand-alone energy storage Projects will cost $2,785 per kW. Based on this value, FirmoGraphs estimates the Project will cost $680 million.
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The following M&A transactions in the Power Generation and Supply Industry stand out in the month of July:
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 |
2023-08-21 |
2023-08-24 |
|
Energy Central |
2023-09-05 |
2023-09-07 |
|
CIBO |
2023-09-11 |
2023-09-13 |
|
Smart Electric Power Alliance |
2023-09-11 |
2023-09-14 |