Hello Dear Readers!
Here's our Power Generation & Supply Roundup for the month of April 2020, with interesting information about fresh industry drivers, new and notable mergers and acquisitions. Enjoy, and don't forget to share your feedback with us on how we can continue to improve!
Industry Drivers and Alerts
Driver: HB-1526 (SB-851) — Virginia Clean Economy Act
Status: Effective
Organization: West Virginia State Legislature
Summary: On April 12, House Bill 1526 and Senate Bill 851 passed, and the Clean Economy Act was signed into law by Governor Ralph Northam. This action has moved Virginia one step forward in the transition to clean energy. This Act is based on the following goals:
- Defining a renewable energy portfolio by requiring Dominion to switch to 100% carbon-free energy by 2042, Appalachian Power by 2050, and shutting down coal-fired power plants by 2024.
- Establishment of energy efficiency standards - this objective is based on reducing the burden on lower-income consumers as well as the fact that it is required to establish a third party control over meeting energy efficiency standards.
- Establishment offshore power generation - the Act defines electricity production in this way, which will also provide an increase in the number of jobs that should be employed by persons from less developed areas.
- Increase in solar energy production through rooftops solar panels.
Click here and here for additional information.
Driver: Strategy To Restore American Nuclear Energy Leadership
Status: Plan / Guideline (announced)
Organization: U.S. Nuclear Fuel Working Group of the Department of Energy
Summary: On April 23, the U.S. Nuclear Fuel Working Group (NFWG) announced the strategy to regain the leadership of US nuclear power. The NFWG group has been set up to analyze security issues more deeply, taking into account the entire nuclear supply chain. The strategy is based on several pillars:
- Increasing uranium extraction and enhancing the sustainability of the nuclear fuel cycle front-end.
- Implementation of technological breakthroughs in the field of nuclear energy to maintain the leadership position.
- Preserving the growing nuclear sector.
- Governmental support for the export of civilian nuclear technology.
Click here for additional information.
Driver: Co-locating Energy Storage With Fossil-Fueled Facilities
Status: Effective
Organization: United States Department of Energy
Summary: The Covid-19 pandemic has raised the issue of energy storage, causing significant supply chain problems, due to a decline in material production, as well as delays in delivery. For this reason, the US Department of Energy has offered a solution in the form of developing energy storage facilities near coal-fired power plants. This project would not only provide reliable energy, but would also contribute to positioning the US as a global leader in energy storage. Funding will be provided by the DOE's Office of Fossil Energy, while a financial plan will be presented in the second quarter of 2020.
Click here and here for additional information.
Driver: Extension of Comment Period: Disposal of Coal Combustion Residuals from Electric Utilities; Federal CCR Permit Program
Status: Proposed
Organization: The United States Environmental Protection Agency
Summary: The EPA has extended the comment period on its proposal to establish a federal Coal Combustion Residuals (CCR) permit program. The notice announcing this proposal was published on February 20, 2020, and the public comment period was scheduled to end on April 20, 2020. However, in response to the request from a number of public interest groups for additional time, EPA has extended the comment period through May 20, 2020.
Click here for additional information.
Notable M&A
The following M&A transactions in the Power Generation and Supply Industry stand out in the month of April:
- April 01, 2020, Capital Power Corporation successfully completed the acquisition of Buckthorn Wind, a 100.5-megawatt wind facility located in Erath County, Texas, from private investors.
- Update: April 1, 2020, El Paso Electric's $4.3 billion acquisition by Infrastructure Investments Fund (IIF), advised by J.P. Morgan's investment management has been approved to proceed provided that both parties assure FERC that the merger could reduce competitive electric supply in Texas.
- Announcement: April 7, 2020, Xcel Energy sold its 720 MW natural gas plant Mankato Energy Center (MEC) to Southwest Generation for $680 million.
- Update: April 8, 2020, NextEra Energy is internally evaluating the potential acquisition of Evergy, the Kansas-based utility.
- April 22, 2020, SPI Energy Co., Ltd. a global provider of green energy solutions for business, residential, government, and utility customers, and investors, acquired the Cork Solar Project, which will produce a total of approximately 1.89MW in the State of Oregon.
Meeting Planner
In this over-digitized age, there is no place for face-to-face meetings with your prospects and customers! However due to the impact of the COVID19, the following organizations have updated their meetings approach.
Meetings in May & June, 2020
- (Canceled) National Occupational & Process Safety Conference & Exhibition - 2020, May 13 to May 14, 2020, San Antonio, Texas, http://ow.ly/P9Ws50zsglT
- (Virtual Conference) AGA Operations Conference & Spring Committee Meetings - 2020, May 18 to May 22, 2020, Chicago, Illinois, http://ow.ly/y2gj50zsgnk
-
(Canceled) AWEA Cleanpower - 2020, Jun. 1 to Jun. 4, 2020, Denver, Colorado, http://ow.ly/NhsM50zsgos
-
(Canceled) The APPA National Conference - 2020, Jun. 5 to Jun. 10, 2020, Long Beach, California, http://ow.ly/o81V50zsgvT
-
(Rescheduled & Virtual Conference) IEEE Transportation Electrification Conference and Expo - 2020, from Jun. 22 to Jun. 26, 2020 to Jun. 24 to Jun. 26, 2020, Chicago, Illinois, http://ow.ly/fYvH50zsgxc
-
(Rescheduled) Fuel Ethanol Workshop & Expo - 2020, Omaha, Nebraska, from Jun. 15 to Jun. 17, 2020 to Aug. 24 to Aug. 26, 2020, http://ow.ly/MTzs50zsgyh
Early Bird Registration Deadlines
- (Canceled) Event: The APPA National Conference - 2020
- URL: http://ow.ly/o81V50zsgvT
- Dates: Jun. 5 to Jun. 10, 2020
- Location: Long Beach, California
- Date Early Registration: May 8, 2020
- (Rescheduled & Virtual Conference) Event: IEEE Transportation Electrification Conference and Expo - 2020
- URL: http://ow.ly/mpli50zsgBu
- Dates: Rescheduled from Jun. 22 to Jun. 26, 2020 to Jun. 24 to Jun. 26, 2020
- Location: Chicago, Illinois
- Date Early Registration: May 15, 2020
- Event: Behavior, Energy, and Climate Change - 2020
- URL: http://ow.ly/pHiX50zsgDQ
- Dates: Dec. 6 to Dec. 9, 2020
- Location: Washington, District of Columbia
- Date Early Registration: May 15, 2020
- Event: Energy Exchange - 2020
- URL: http://ow.ly/7xM750zsgG8
- Dates: Aug. 11 to Aug. 13, 2020
- Location: Atlanta, Georgia
- Date Early Registration: Jun. 12, 2020
- Event: Summer Study on Energy Efficiency in Buildings - 2020
- URL: http://ow.ly/T1pE50zsgIz
- Dates: Aug. 16 to Aug. 21, 2020
- Location: Pacific Grove, California
- Date Early Registration: Jun. 15, 2020
- (Rescheduled) Event: Fuel Ethanol Workshop & Expo - 2020
- URL: http://ow.ly/mVEW50zsgJE
- Dates: Aug. 24 to Aug. 26, 2020
- Location: Omaha, Nebraska
- Date Early Registration: Rescheduled to Jul. 29, 2020 from May 6, 2020
Call For Papers Deadlines
- Event: Behavior, Energy, and Climate Change - 2020
- Association: American Council for an Energy-Efficient Economy
- URL: http://ow.ly/pHiX50zsgDQ
- Dates: Dec. 6 to Dec. 9, 2020
- Location: Washington, District of Columbia
- Call for Papers Deadline: May 8, 2020
- Event: USAEE/IAEE North American Conference - 2021
- Association: United States Association for Energy Economics
- URL: http://ow.ly/Qilp50zsgNN
- Dates: Oct. 31 to Nov. 3, 2020
- Location: Austin, Texas
- Call for Papers
- Deadline: May 31, 2020
None of the information we provide may be taken as legal advice. Please consult an attorney if you require a legal interpretation of this information.
Any information contained on this website or within any attachments is offered without representation or warranty as to its accuracy or completeness and FirmoGraphs, LLC cannot be held responsible for loss or damage caused by errors, omission, misprints or your misinterpretation of such information. Seek competent professional advice prior to relying on or utilizing such information in any manner as any such use is at your own risk.