Our June 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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Industry Drivers
Our data team tracks new and updated industry drivers. Here are some recent drivers we have been following in June:
S. - 870 A bill To Authorize Appropriations For The United States Fire Administration And Firefighter Assistance Grant Programs, To Advance The Benefits Of Nuclear Energy, And For Other Purposes
Status: Proposed
Organization: U.S. House of Representatives
Summary: On June 18, 2024, the United States Senate passed legislation to expand the development and deployment of nuclear energy through the Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy (ADVANCE) Act of 2023. This act promoted nuclear power, including small modular reactors (SMRs) and highly concentrated nuclear fuel, and the export of nuclear materials and technology. It also directed the Nuclear Regulatory Commission (NRC) to promote and regulate nuclear power. The legislation passed the U.S. House of Resprese tatives and would become law upon the president's signature.
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Model Ordinance: Utility-Scale Battery Energy Storage Systems
Status: Proposed
Organization: American Clean Power Association
Summary: On June 27, 2024, the American Clean Power Association (ACP) published a model ordinance framework to guide state and local governments in developing siting and permitting rules for utility-scale battery energy storage systems. This framework supports adopting the latest safety standards and incorporates guidelines from the National Fire Protection Association's NFPA 855 safety standard. The ordinance provides comprehensive policy language for permitting procedures, siting standards, land use and zoning, safety and equipment certifications, environmental compliance, and decommissioning. It aims to help communities integrate battery energy storage systems responsibly, enhancing grid reliability and reducing energy costs. It underscores the importance of adopting NFPA 855, considered the best-in-class standard vetted by various stakeholders, including fire officials, engineers, developers, and planners. The framework represents a significant effort to establish rigorous and reasonable rules for the safe development and operation of energy storage resources.
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California Offshore Renewable Energy
Status: Effective
Organization: California Energy Commission
Summary: On June 27, 2024, the American Clean Power Association (ACP) published a model ordinance framework to guide state and local governments in developing siting and permitting rules for utility-scale battery energy storage systems. This framework supports adopting the latest safety standards and incorporates guidelines from the National Fire Protection Association's NFPA 855 safety standard. The ordinance provides comprehensive policy language for permitting procedures, siting standards, land use and zoning, safety and equipment certifications, environmental compliance, and decommissioning. It aims to help communities integrate battery energy storage systems responsibly, enhancing grid reliability and reducing energy costs. It underscores the importance of adopting NFPA 855, considered the best-in-class standard vetted by various stakeholders, including fire officials, engineers, developers, and planners. The framework represents a significant effort to establish rigorous and reasonable rules for the safe development and operation of energy storage resources.
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S.B. 265 - An Act To Amend Titles 17, 26, And 29 Of The Delaware Code Relating To The Delaware Energy Solutions Act Of 2024
Status: Proposed
Organization: Delaware State Legislature
Summary: On June 30, 2024, the Delaware State Senate passed title amendments to the Delaware Energy Solutions Act of 2024. The Act supports the state's net-zero goals by facilitating the transition to carbon-free energy. It prepares for including offshore wind, if cost-competitive, and enhances renewable energy integration into the grid. The State Energy Office (SEO), with Public Service Commission (PSC) approval, can issue solicitations for 800 to 1,200 megawatts of offshore wind power. The process involves drafting solicitations, consulting the Renewable Energy Task Force, and ensuring bids do not exceed 110% of the Delaware Benchmark Price. Municipal utilities, rural cooperatives, and third-party purchasers can participate, and contracts proceed only if pricing criteria are met. The bill also empowers the PSC to issue Certificates of Public Convenience and Necessity (CPCN) for renewable energy interconnection facilities. It authorizes the Delaware Department of Transportation to permit these facilities in state-owned rights of way.
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DOE Announces $2.7 Billion From President Biden’s Investing in America Agenda to Boost Domestic Nuclear Fuel Supply Chain
Status: Effective
Organization: Department of Energy
Summary: On June 27, 2024, to enhance energy security and create jobs, the U.S. Department of Energy (DOE) issued a request for proposals (RFP) to purchase low-enriched uranium (LEU) from domestic sources. This initiative, backed by $2.7 billion from the President’s Investing in America agenda, aims to develop U.S. uranium enrichment capacity, diversify the market, and ensure a reliable supply of commercial nuclear fuel, reducing reliance on Russian imports. The DOE's action supports clean energy generation and national security by ensuring an adequate fuel supply for U.S. reactors and future nuclear technologies. Proposals for the RFP are due by August 26, 2024, with DOE planning to award two or more contracts lasting up to 10 years. Successful applicants must also deliver local benefits and prioritize environmental justice. This initiative aligns with Biden’s goal of moving towards cleaner energy sources and domestic manufacturing, creating good-paying union jobs, and enhancing energy resilience.
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FERC Seeks Comment on Potential DLR Framework to Improve Grid Operations & Fact Sheet
Status: Proposed
Organization: FERC
Summary: On June 27, 2024, the Federal Energy Regulatory Commission (FERC) requested public comments on a potential framework for dynamic line ratings (DLR) to enhance the efficiency and cost-effectiveness of the power grid. In its Advance Notice of Proposed Rulemaking (ANOPR), FERC highlighted that this framework would use up-to-date weather forecasts to improve transmission line ratings accuracy. This initiative supports FERC's broader goal of ensuring the reliability and operability of the nation's transmission grid, complementing its recent Order No. 1920 on planning and funding future transmission facilities. Transmission line ratings, which assess the maximum transfer capability of each line, are crucial as their efficiency can vary with weather conditions. FERC seeks comments on incorporating hourly solar and wind conditions into these ratings, and how congestion and environmental factors could pinpoint lines benefiting most from DLR. Comments are due within 90 days of the ANOPR's publication in the Federal Register.
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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.
$1.5 Billion Sun Bear Solar Project
Type: Generation - Solar
Status: Proposed
Organization: Canigou Group
Region: Colorado
Summary: Canigou Group will construct the proposed Sun Bear Solar Project, a 971-megawatt (MW) solar facility capable of powering nearly 215,000 homes, making it one of the largest solar farms in the U.S. The project will consist of approximately 2 million panels and will be situated on over 4,240 acres of land approximately 9 miles southwest of Towaoc, Colorado. Construction, estimated to cost $1.5 billion, is expected to commence later in 2024.
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$1.3 Billion Amphibole Solar Project
Type: Generation - Solar
Status: Proposed
Organization: Sawtooth DevCo, LLC
Region: Nevada
Summary: Sawtooth DevCo, LLC submitted filings on June 20, 2024, to the Nevada Public Utilities Commission for the Amphibole Solar Project. The Project is an up to 600 megawatts (MW) solar powered generating facility with an up to 500 kV (kilovolts) transmission line, a battery energy storage system and associated facilities on approximately 7,114 acres of land in Washoe County, Nevada. Construction of the facility is estimated to commence in 2026 and be completed in 2028. According to the 2024 Annual Technology Baseline (ATB), Solar Projects with battery energy storage will cost $2,191 per kW. Based on this value, FirmoGraphs (FG) estimates the Project will cost $1.3 billion.
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$1.2 Billion Eagle Butte 2 Project
Type: Generation - Solar
Status: Proposed
Organization: 8minute Solar Energy
Region: Nevada
Summary: 338BM 8me LLC, a subsidiary of 8minute Solar Energy, submitted filings on June 12, 2024, to the Nevada Public Utilities Commission for the Eagle Butte 2 Project. The Project is an up to 550 megawatts (MW) solar powered generating facility with an up to 1,100 MW battery energy storage system, 230 kV (kilovolts) generation-tie line and ancillary facilities on approximately 4,340 acres of land approximately 11 miles southeast of Austin in Lander County, Nevada. The Project will interconnect to the proposed Lander Substation via an approximately 24.6 mile long 230 kV single or double circuit transmission line. Construction of the facility is scheduled to commence in December 2027 and scheduled to be in service in December 2029. According to the 2024 Annual Technology Baseline (ATB), Solar Projects with battery energy storage will cost $2,108 per kW. Based on this value, FirmoGraphs (FG) estimates the Project will cost $1.16 billion.
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$986 Billion Eagle Butte 1 Project
Type: Generation - Solar
Status: Proposed
Organization: 8minute Solar Energy
Region: Nevada
Summary: 337LS 8me LLC, a subsidiary of 8minute Solar Energy, filed with the Nevada Public Utilities Commission on June 12, 2024, for the Eagle Butte 1 Project. It includes a solar-powered generating facility of up to 450 MW and a battery energy storage system of up to 900 MW, along with a 230 kV generation-tie line and ancillary facilities on about 2,885 acres approximately 11 miles southeast of Austin in Lander County, Nevada. The Project will connect to the proposed Lander Substation via a 23.8-mile-long 230 kV transmission line. Construction is set to start in December 2026, with completion expected by December 2028. According to the 2024 Annual Technology Baseline (ATB), solar projects with battery energy storage cost $2,191 per kW. FirmoGraphs (FG) estimates the Project will cost $986 million based on this figure.
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$456 Billion CPV Prairie Dock Solar Project
Type: Generation - Solar
Status: Proposed
Organization: Competitive Power Ventures
Region: Illinois
Summary: Competitive Power Ventures will construct the proposed CPV Prairie Dock Solar Project. The project is a 300-megawatt (MW) solar facility that will generate up to 600,000 megawatt-hours (MWh) annually of local, emission-free power for households and businesses across the region. It will be situated on approximately 1,600 acres near Odell in Livingston County, Illinois. Construction is estimated to begin by the third quarter of 2025, with commercial operation expected by the fourth quarter of 2026. According to the 2024 Annual Technology Baseline (ATB), solar projects are estimated to cost $1,551 per kilowatt (kW). Based on this estimate, FirmoGraphs (FG) estimates the project will cost $465 million.
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Notable M&A
The following M&A transactions in the Power Generation and Supply Industry stand out in the month of June:
- On June 3, 2024, Curtiss-Wright Corporation announced that it entered into an agreement to acquire the stock of Ultra Nuclear Limited and Weed Instrument Co., Inc., a subsidiary of Ultra Electronics, for $200 million in cash.
- On June 17, ONEOK, Inc. announced that it has completed its acquisition of a system of natural gas liquids (NGL) pipelines from Easton Energy for approximately $280 million.
What We Are Reading
Here are some recent articles our team has been reading:
- Entergy Texas announces plans to give Southeast Texas another 1,600 MW capacity by 2028
- NMPRC Approves New PNM Energy Resources for 2026
- US clean energy investment reaches record quarterly high of $71B: report
- $1.3B earmarked for EV charging network expansion in US
- Vistra, ENGIE and other developers move to tap $5B Texas Energy Fund for 41 GW of gas-fired projects
- Public Service Company of New Mexico to add 410 MW of renewable energy resources by Summer 2026
- Entergy Texas Inc. - Entergy Texas proposes new power plants to support rapid growth in Southeast Texas
- DOE selects Idaho lab site for first projects to repurpose agency land for clean energy
- Energy Capital Partners secures $6.7B to invest in clean energy industry
- Illinois Commerce Commission adopts state’s first Renewable Energy Access Plan
- DTE breaks ground on massive battery storage facility on site of old coal-fired plant
- NextEra Energy Resources, Entergy to build solar energy projects across the South
- To Beat the Summer Heat and Support the Transition to Clean Energy, Con Edison Puts $2.3 Billion Plan In Action
- DOE releases zero-emissions building definition, part 1
- Central Maine Power nears finish line for 22-mile transmission line rebuild project
- NV Energy proposes 400 MW gas peakers, more than 1 GW each of solar, storage in 2024 IRP
- $7.85B Mountain Valley Pipeline construction complete
- Chesapeake Energy outlines ESG record in sustainability report
- RWE Starts Construction on Illinois Utility-Scale Solar Project
- Xcel Energy : 2023 Sustainability Report Full Report
- Xcel's $440M plan to cut greenhouse gas emissions gets Colorado's OK — but it could boost utility bills again
- Consumers Energy begins undergrounding two miles of power lines in Michigan’s Lower Peninsula
- Ørsted commissions 518MW Texas hybrid wind and solar project
- Governor Hochul Announces Approval of New York's Nation-Leading Six Gigawatts Energy Storage Roadmap
- PGE - PGE expands rooftop solar at five operational facilities
- Alberta's last coal-fired power plant mothballed
- U.S. energy storage market installed record 1,265 MW in Q1 2024
- BOEM clears Sunrise Wind project offshore New York to begin construction
- NYPA, LS Power transmission proposal could move up to 8 GW of offshore wind to NYC
- New York PSC adopts energy storage road map detailing path to 6 GW by 2030
- California finalizes plan to meet offshore wind goal of 25 GW by 2045
- Burns & McDonnell Completes Commissioning of Plus Power's 1-GWh Stand-Alone Energy Storage Facility in Arizona
- Draft Environmental Analysis of Gulf of Maine Offshore Wind Area Available for Public Comment
- Avangrid and CIP Achieve Milestone with Vineyard Wind 1 Offshore Wind Project
- DOE supplies more than $63M for commercialization of transformative energy technologies
- DOE publishes in-depth inventory of state permitting and siting regulations for wind and solar
- SRP Issues RFP for Long Duration Energy Storage Projects
- Fervo, Southern California Edison ink record-setting 320-MW geothermal deal
What Top U.S. Environmental Companies Blog About
To stay abreast of industry marketing trends, we regularly review blogs of the nation's top consulting and construction firms. These are some notable customer-focused blogs in June.
New Report Finds Gap Between Leaders And Laggards On Methane Emissions Widens, Underscores Importance Of New Regulations
Summary: On June 3, 2024, Ceres and Clean Air Task Force, in collaboration with ERM, released the fourth annual report which analyzes methane and greenhouse gas emissions from over 300 U.S. oil and gas producers in 2022, with trends dating back to 2015. It highlights a significant disparity in emissions performance across the industry, noting a 31% reduction in methane intensity and a 17% decrease in overall greenhouse gas intensity since 2020, largely attributed to both federal regulations implemented since 2016 and stringent state-level measures.
Exploring the Feasibility of Using Floating Solar for Innovative Ends
Summary: On June 7, 2024, Burns & McDonnell published a blog on how Colorado Water District explored the feasibility of implementing floating solar photovoltaic (PV) systems on reservoirs to enhance sustainability and energy generation. It discusses a collaborative project between Burns & McDonnell and a water utility company to assess the potential benefits and challenges of this technology. The study focuses on a reservoir in the Midwest United States and evaluates factors such as solar panel efficiency, water quality impacts, and economic viability. The project aims to leverage underutilized water surfaces for renewable energy production while preserving land resources. By integrating solar PV with water infrastructure, the initiative seeks to reduce carbon emissions and operational costs for the utility, contributing to long-term environmental stewardship and energy diversification.
Renewables and Hydrogen: What Does The Future Look Like?
Summary: On June 7, 2024, Trinity Consultants discussed the future prospects of renewables and hydrogen as key components of global energy strategies. It explores how these technologies are expected to evolve, emphasizing their potential to reduce carbon emissions and enhance energy security. The piece highlights current trends and projections for renewable energy adoption, noting the growing investments in solar and wind power. It also examines the role of hydrogen in decarbonizing sectors like transportation and industry, pointing out advancements in production technologies and infrastructure development.
Currents of the Mid-Atlantic: Navigating Regional Dynamics of Offshore Wind
Summary: On June 14, 2024, TRC discussed the emerging offshore wind industry in the Mid-Atlantic region of the United States, focusing on its regional dynamics and challenges. It explores the collaboration between federal and state governments, industry stakeholders, and communities to navigate complexities such as environmental impact assessments and regulatory frameworks. The Mid-Atlantic region, encompassing states like Maryland, New Jersey, and Virginia, has been identified as a prime location due to its favorable wind conditions and proximity to major population centers. The development of offshore wind projects aims to bolster local economies through job creation and investments in infrastructure. However, achieving these goals requires careful planning to address concerns related to marine life, fishing industries, and coastal communities.
Burns & McDonnell Completes Commissioning of Plus Power’s 1-GWh Stand-Alone Energy Storage Facility in Arizona
Summary: On June 24, 2024, Burns & McDonnell announced in a blog the completion of the Sierra Estrella Energy Storage Facility, highlighting its significance and impact. Developed in collaboration with Arizona Public Service (APS), the facility is situated in Buckeye, Arizona. It aims to enhance grid reliability and support renewable energy integration by providing 63 megawatts of storage capacity. The project utilized advanced lithium-ion battery technology to store and dispatch electricity during peak demand periods. Completed in a timely manner, the facility represents a significant step towards enhancing energy resilience in the region and achieving clean energy goals.
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 July and August 2024
|
Name Organization |
Name Meeting Key |
Date Start |
Date End |
|
Power Engineering |
2024-07-15 |
2024-07-18 |
|
|
Smart Electric Power Alliance |
2024-07-18 |
2024-07-19 |
|
|
American Council for an Energy-Efficient Economy |
2024-08-04 |
2024-08-09 |
|
|
Smart Electric Power Alliance |
2024-08-20 |
2024-08-22 |
Early Bird Registrations
- Event: EC Commercial UAV Expo
Dates: September 3, 2024 - September 5, 2024
Deadline for Early Registration: July 14, 2024 - Event: ESNA Intersolar & Energy Storage North America Texas Conference
Dates: November 19, 2024 - November 11, 2024
Deadline for Early Registration: August 1, 2024 - Event: AEE World Energy Conference & Expo
Dates: September 25, 2024 - September 27, 2024
Deadline for Early Registration: August 27, 2024