Our November 2022 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 this month:
Department of Energy Announces $13 Billion To Modernize And Expand America's Power Grid
Status: Proposed
Organization: United States Department of Energy (DOE)
Summary: On November 18, 2022, DOE announced the $13 billion largest single direct federal investment in critical transmission and distribution infrastructure for the modernization and expansion of the country’s electric grid. The funding will be used for grid resilience projects to reduce the impacts of extreme weather and natural disasters under the Building a Better Grid Initiative, funded through Bipartisan Infrastructure Law (BIL), the Grid Resilience Innovative Partnership (GRIP) program, and the Transmission Facilitation Program. DOE will use capacity contracts to purchase up to 50% of the maximum capacity of the transmission line. In addition, the deadline for submission in the first phase is February 1, 2023, while the department is planning to hold a public webinar on November 30, 2022, to provide additional information.
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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.
$11 Billion Clean Path New York Project
Type: Power Transmission
Status: Proposed
Organization: Invenergy, LLC
Region: New York
Summary: Invenergy, LLC leads the development of the proposed Clean Path New York Project. The Project is a clean energy infrastructure investment that comprises more than 20 renewable energy generation projects and approximately 175-mile underground transmission lines from Delaware County to New York City. In addition, it will also include 20 new wind and solar generation projects that will generate 3,800 megawatts (MW) of wind and solar power and deliver almost 8 million MW-hours of emissions-free energy. The construction will start in 2024 and is expected to be completed in 2027. The new transmission project will have an investment of $3.5 billion and $7.5 billion for the new clean energy generation.
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$4.9 Billion King Pine Wind Farm
Type: Wind - Generation; Power Transmission
Status: Proposed
Organization: Longroad Energy Partners, LLC
Region: Maine
Summary: Longroad Energy Partners, LLC will construct and operate the proposed King Pine Wind Farm on approximately 175,000 acres in Aroostook County in northern Maine. The Project is an onshore wind facility with 1,000 megawatts (MW) capacity and will also include constructing a double circuit 345 kilovolts (kV) transmission line. The wind facility will cost $2 billion, and $2.9 billion for the transmission line.
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$539 Million Owens Creek Solar Project
Type: Solar - Generation
Status: Proposed
Organization: Owens Creek Solar, LLC
Region: Illinois
Summary: Owens Creek Solar, LLC, a wholly owned subsidiary of Leeward Renewable Energy, LLC, proposed to develop the Owens Creek Solar Project on 3,700 acres in Mayfield and South Grove Townships, DeKalb County, Illinois. The Project is a solar facility with 500 megawatts (MW) of alternating current capacity. The construction will start on December 31, 2022, and is expected to be completed on December 31, 2024, costing $539 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 November:
- On November 15, 2022, LS Power agreed to acquire 334 MW of run-of-river hydro facilities from Hull Street Energy.
- On November 18, 2022, NextEra Energy Partners agreed to acquire a 49% interest in an 1.5 GW renewables portfolio and 100% of the indirect membership interests in an 345 MW portfolio of operating wind assets.
What We Are Reading
Here are some recent articles our team has been reading:
- PG&E formally asks NRC to extend Diablo Canyon power plant license to 2030 to boost grid reliability
- Jersey Central Power and Light Constructing Transmission for N.J. Offshore Wind Farms
- Sunrun to Build and Operate Puerto Rico’s First Virtual Power Plant, A Customer-Driven Energy Solution
- PacifiCorp, TerraPower to assess feasibility of adding up to 5 more Natrium nuclear reactors by 2035
- DTE Electric proposes $9B spend on 5.4 GW renewables, 760 MW storage, coal-to-gas power plant switch
- DOE touts nuclear-powered hydrogen production projects with Xcel, Constellation, 4 other partners
- Akron approves demolition of former B.F. Goodrich power plant
- NY Public Service Commission moves ahead with four major wind projects
- Governor Hochul Announces Approval of Major Offshore Wind Transmission Line
- DOE conditionally awards PG&E’s Diablo Canyon nuclear plant $1.1B to forestall shutdown
- Palisades nuclear power plant denied federal funds to reopen
- Biden administration makes $550M available for community-based clean energy projects
- Entergy Texas receives approval to build a cleaner, more reliable power station in Southeast Texas
- U.S. Department of Energy Confirms Diablo Canyon Power Plant’s Eligibility for Civil Nuclear Credit Program Funding
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 December 2022 and January 2023
- IEEE - PES Innovative Smart Grid Technologies Conference North America: Moving to a Self Driving Grid - Jan. 16 - Jan. 19, 2023
- EC 3rd Edition Coal Ash And CCR Management - Jan. 25 - Jan. 26, 2023
- ACAA Winter Membership Meeting - Jan. 31 - Feb. 1, 2023
Early Bird Registration
- Event: ESNA Intersolar North America and Energy Storage North America
Dates: Feb. 14 - Feb. 16, 2023
Deadline for Early Registration: Dec. 15, 2022 - Event: IEEE - PES Innovative Smart Grid Technologies Conference North America: Moving to a Self Driving Grid
Dates: Jan. 16 - Jan. 19, 2023
Deadline for Early Registration: Dec. 15, 2022 - Event: EC Geo Week
Dates: Feb. 13 - Feb. 15, 2023
Deadline for Early Registration: Jan. 13, 2023 - Event: AESP Annual Conference & Expo
Dates: Feb. 27 - Mar. 2, 2023
Deadline for Early Registration: Jan. 20, 2023
Call for Papers
- Event: AWEA Cleanpower Conference and Exhibition
Dates: May 22 - May 24, 2023
Deadline for Call for Papers: Dec. 30, 2022