Our March 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.
To learn more about how we are helping power and coal ash industry leaders find new opportunities in their market of interest, schedule a market opportunity workshop.
Industry Drivers
Our data team tracks new and updated industry drivers. Here are some recent drivers we have been following in March:
Joint Office of Energy and Transportation Release Strategy to Accelerate Zero-Emission Freight Infrastructure Deployment
Status: Effective
Organization: Joint Office of Energy and Transportation
Summary: On March 12, 2024, the Joint Office of Energy and Transportation, in collaboration with the U.S. Department of Energy (DOE), U.S. Department of Transportation (DOT), and Environmental Protection Agency (EPA) released the National Zero-Emission Freight Corridor Strategy. The strategy outlines a plan to establish a top-tier, zero-emission freight network nationwide by 2040. It focuses on boosting the deployment of zero-emission medium- and heavy-duty vehicle (ZE-MHDV) infrastructure through targeted public investment to bolster private sector efforts. In addition, the strategy aims to support the U.S. goal of reaching 30% ZE-MHDV sales by 2030 and 100% by 2040 by ensuring widespread access to electric vehicle charging and hydrogen refueling along freight corridors, intermodal facilities, and busy ports.
Click Here for More Information
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.
$431 Million American Pharaoh Battery Energy Storage System
Type: Generation - Energy Storage
Status: Proposed
Organization: Black Mountain Energy Storage
Region: Wisconsin
Summary: Black Mountain Energy Storage (BMES) submitted Engineering Plan filings in February 2024 to the Public Service Commission of Wisconsin for the proposed American Pharaoh Battery Energy Storage System Project. The Project will have a nameplate capacity of approximately 300 megawatts (MW)/1200 megawatts per hour (MWH) on a 32-acre tract at the intersection of N 84th St and Kaul Ave, just north of existing Union Pacific railroad tracks in Milwaukee, Wisconsin. In addition, it will interconnect to American Transmission Company’s existing 345 kilovolts (kV) transmission system via one short radial 345 kV transmission less than one-half mile in length connecting to the existing 345 kV Granville Substation. Commercial operation is currently planned to occur in 2028. According to the 2023 Annual Technology Baseline (ATB), Energy Storage projects will cost $1,436 per kW. Based on this value, FirmoGraphs estimates the Project will cost $430.8 million.
Contact FirmoGraphs to See the Document
$406 Million Iron Pine Solar Project
Type: Generation - Solar
Status: Proposed
Organization: Iron Pine Solar Power, LLC
Region: Minnesota
Summary: Iron Pine Solar Power, LLC submitted a Notice of Intent to Submit a Site Permit Application filing on March 12, 2024, to the Minnesota Public Utilities Commission for the Iron Pine Solar Project. The Project is a 325 megawatts (MW) solar electric generating facility, associated systems, and a new 230 kilovolt (kV) HTVL in Pine County, Minnesota. FirmoGraphs (FG) estimates construction will commence in mid-2025, and is expected to be completed in 2027. According to the 2023 Annual Technology Baseline (ATB), Solar projects will cost $1,248 per kW. Based on this value, FG estimates the Project will cost $405.6 million.
Contact FirmoGraphs to See the Document
$250 Million Gopher State Solar Project
Type: Generation - Solar
Status: Proposed
Organization: Gopher State Solar, LLC
Region: Minnesota
Summary: Gopher State Solar, LLC submitted a Notice of Intent to Submit a Site Permit Application filing on March 01, 2024, to the Minnesota Public Utilities Commission for the Gopher State Solar Project. The Project is a 200-megawatt (MW) solar electric generating facility in Renville County, Minnesota. FirmoGraphs (FG) estimates construction will commence in mid-2025, and is expected to be completed in 2027. According to the 2023 Annual Technology Baseline (ATB), Solar projects will cost $1,248 per kW. Based on this value, FG estimates the Project will cost $249.6 million.
Contact FirmoGraphs to See the Document
$208 Million Brenneman Solar Project
Type: Generation - Solar
Status: Proposed
Organization: Doral Renewables LLC
Region: Georgia
Summary: Doral Renewables LLC (“Doral”) has acquired the Brenneman Solar Project from AVANGRID, Inc. The Project is a solar facility with 167 megawatts (MW) of alternating current to be located on approximately 1,600 acres in the Southeastern Electric Reliability Council (SERC) energy market, Macon County, Georgia. The Project is in the permitting stage and is scheduled to begin operations by the end of 2026. 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 $208.42 million.
Contact FirmoGraphs to See the Document
$187 Million Augusta Solar
Type: Generation - Solar
Status: Proposed
Organization: Augusta Solar, LLC
Region: Virginia
Summary: Augusta Solar, LLC, a subsidiary of AES Corporation, submitted filings on March 08, 2024, to the Commonwealth of Virginia State Corporation Commission for the proposed Augusta Solar Project. The Project is a 150 megawatts (MW) solar facility located approximately on 1,764 acres of land in the southeastern portion of Augusta County, Virginia. The Project will require approximately 12 miles of 34.5 kilovolts (kV) medium voltage Feeder Lines to connect the panels and inverters to the Collector Substation and then to the PJM transmission system at the Dominion Switchyard. The construction is expected to start in Q2 2025 and conclude in Q2 2026. 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 $187.2 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 March:
- On March 7, 2024, Enbridge Inc. announced the closing of its acquisition of The East Ohio Gas Company from Dominion Energy, Inc. The gas utility will be doing business as Enbridge Gas Ohio and will join Enbridge's Gas Distribution and Storage Business Unit.
- On March 19, 2024, Talos Energy Inc. announced that it has entered into an agreement for the sale of its wholly owned subsidiary, Talos Low Carbon Solutions, LLC, to TotalEnergies E&P USA, Inc. for a purchase price of $125 million plus customary reimbursements, adjustments and retention of cash, combined totaling approximately $148 million.
- On March 19, 2024, an affiliate of Eagle Creek Renewable Energy acquired Lightstar Renewables, a community solar developer and owner and operator of community solar farms in the United States.
What We Are Reading
Here are some recent articles our team has been reading:
- Nevada regulators set to approve NV Energy’s $2B IRP amendment, including new gas resources
- BLM APPROVES ALTA WIND BATTERY ENERGY STORAGE PROJECT IN CALIFORNIA
- MISO proposes up to $23B transmission expansion with 765-kV ‘highway’
- California regulators approve new program to expedite power line undergrounding
- AES Indiana buys up 106 MW Hoosier Wind project from EDF Renewables North America
- GOVERNOR HOCHUL ANNOUNCES COMPLETION OF SOUTH FORK WIND, FIRST UTILITY-SCALE OFFSHORE WIND FARM IN THE UNITED STATES
- Up to 58 GW faces retirement in PJM by 2030 without replacement capacity in sight: market monitor
- ComEd refiles multi-year grid plan after Illinois regulators rejected 2023 edition
- Two Million Acres Allotted for Offshore Wind Energy in Gulf of Maine
- US ENERGY STORAGE MARKET BREAKS INSTALLATION RECORD IN Q4 2023
- National Grid announces $4B plan to upgrade upstate New York power grid
- Ameren Missouri to add 400 MW of solar energy by 2026
- Enel breaks ground on 186-MW solar project plus storage in Texas
- Biden-Harris Administration Announces $6 Billion to Transform America's Industrial Sector, Strengthen Domestic Manufacturing, and Slash Planet-Warming Emissions
- Utah’s largest coal plant to be compelled to continue operations amid weaning demand
- Interior Department approves 924-MW Sunrise Wind project offshore New York
- Biden-Harris Administration Announces $1.5 Billion Conditional Commitment to Holtec Palisades to Support Recommission of Michigan Nuclear Power Plant
- Biden Administration Greenlights Orsted's 1-Gigawatt Offshore Wind Farm Near Massachusetts
- Biden-Harris Administration Announces $4 Billion in Tax Credits to Build Clean Energy Supply Chain, Drive Investments, and Lower Costs in Energy Communities
- Last coal-burning power plant in New England set to close in a win for environmentalists
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 March.
Appaloosa Solar I Project Wins “2023 Energy Project of the Year”
Summary: On March 7, 2024, The Sundt Companies, Inc. released a blog discussing the Appaloosa Solar I project in Cedar City, Utah, which has been recognized as the "2023 Energy Project of the Year" by the Associated General Contractors of America, Utah Chapter, for its notable contribution to the renewable energy landscape through the utilization of advanced solar technologies. Sundt, in collaboration with partner BHI, completed the construction of this 240 MWdc / 200 MWac solar facility in just over a year, with the facility entering commercial operation in January 2024 and expected to decrease approximately 395,000 metric tons of carbon emissions in its first year of operation.
Responsibly Sourcing Materials for Solar Projects
Summary: On March 8, 2024, PCL Constructors Inc. released a blog regarding PCL, a leader in the renewable energy market, which has played a significant role in diversifying global energy sources, with its solar operations spanning Canada, the United States, and Australia, totaling over $5.7 billion CAD in projects. By integrating over 800+ MWh of Battery Energy Storage Systems and generating enough energy to power over 1.4 million homes, PCL aims to reduce global greenhouse gas emissions while implementing a multiyear sustainability strategy focused on reducing environmental impact throughout the lifecycle of its solar projects, collaborating with clients and partners to make conscientious decisions in design, construction, and end-of-life management processes.
Primergy Secures $588 Million for 408 MW Solar Project in Texas
Summary: On March 11, 2024, SOLV Energy wrote a blog announcing they secured $588 million in debt financing for a 408 MW solar project in Hill County, Texas, with Microsoft signed on for a long-term power purchase. The project, acquired from Orion Power Generation, aims to provide electricity equivalent to 90,000 homes annually, benefiting the local community through job creation and tax revenue.
Driving Decarbonization With Renewable Floating Offshore Wind Energy
Summary: On March 14, 2024, Stantec Inc. published a blog discussing how the continental shelf off the US East Coast is suitable for traditional fixed-bottom offshore wind farms due to gradually sloping terrain and shallow waters, which makes it ideal for driving turbines into the seabed. However, on the West Coast, where water depths drop more quickly and exceed 1,000 meters, fixed-bottom turbines aren't feasible, leading to the development of floating offshore wind farms. Floating turbines, which sit atop buoyant platforms anchored to the seafloor, allow installation in deeper waters and are becoming increasingly important in expanding offshore wind energy.
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 April and May 2024
|
Name Organization |
Name Meeting Key |
Date Start |
Date End |
|
Edison Electric Institute |
2024-04-15 |
2024-04-19 |
|
|
Microgrid Knowledge |
2024-04-22 |
2024-04-24 |
|
|
Portland Cement Association |
2024-04-28 |
2024-05-02 |
|
|
American Wind Energy Association |
2024-05-06 |
2024-05-09 |
|
|
IEEE Power & Energy Society |
IEEE - PES Transmission and Distribution Conference and Exposition |
2024-05-06 |
2024-05-09 |
|
American Coal Ash Association |
2024-05-13 |
2024-05-16 |
Early Bird Registrations
- Event: AWEA Offshore WINDPOWER Conference and Exhibition
Dates: October 28, 2024 - October 30, 2024
Deadline for Early Registration: May 11, 2024 - Event: PE HydroVision International
Dates: July 15, 2024 - July 18, 2024
Deadline for Early Registration: May 16, 2024
Call for Papers
- Event: PCA Cement Conference
Dates: April 28, 2024 - May 2, 2024
Deadline for Call for Papers: April 15, 2024
Comments