Here's our Power Generation & Supply Roundup for the month of May 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: Executive Order Regarding Power System Equipment
Status: Effective
Organization: The White House
Summary: On May 1, 2020, U.S. President Donald Trump, issued an executive order forbidding the acquisition, importation, transfer, or installation of any bulk-power system electric equipment where the transaction includes property in which a foreign country or national has any interest. The Secretary of Energy determines that the sale poses risks to the U.S. bulk-power system, critical infrastructure, or national security. The Order is effective immediately, but its definite range and operation are yet to be determined by implementing regulations that are still not issued. The Order directs the Secretary of Energy to publish such rules within 150 days and to establish procedures to license transactions that would contrarily be banned by the Order. However, such licenses may be contingent upon the adoption of mitigating measures.
Driver: Indiana utilities’ Verified Joint Petition (CAUSE NO. 45377) Seeking Permission to Charge Customers to Recover Revenue Lost Due to Pandemic
Status: Proposed
Organization: Indiana Utility Regulatory Commission
Summary: On May 8, 2020, Indiana's utility companies, conjointly named Joint Petitioners, submitted a request to the Indiana Utility 2 Regulatory Commission requesting approval to postpone, as a regulatory asset, additional expenses, and collecting revenue reductions related to the pandemic. In the petition document, each Joint Petitioner addressed repayment programs for past due amounts during/as a result of the COVID-19 pandemic. Programs will allow customers to repay debts over long periods of time.
Click here for additional information.
Driver: DOE's Program to Demonstrate Advanced Nuclear Reactors within 5 Years
Status: Effective
Organization: The US Department of Energy (DOE)
Summary: On May 14, 2020, the Department of Energy (DOE) revealed the launch of the Advanced Reactor Demonstration Program (ARDP) with the intention to support the US-based private industries to demonstrate their advanced nuclear reactors on the U.S. soil.
It's worth mentioning that advanced nuclear energy systems hold enormous potential to lower emissions, create new jobs, and build an even stronger economy.
The Advanced Reactor Demonstration Program (ARDP) is backed with a $230 million Congress appropriated funding. ARDP will provide $160 million in initial funding to build two reactors that can be operational within the next 5 to 7 years. Also, ARDP will seek to leverage the National Reactor Innovation Center (NRIC) to let developers test and assess ARD technologies.
Applicants can receive support through three different development and demonstration pathways.
- Advanced reactor demonstrations, which are expected to result in a fully functional advanced nuclear reactor within seven years of the award.
- Risk reduction for future demonstrations, which will support up to five additional teams resolving technical, operational, and regulatory challenges to prepare for future demonstration opportunities.
- Advanced reactor concepts 2020 (ARC 20), which will support innovative and diverse designs with the potential to commercialize in the mid-2030s.
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 May:
- May 04, 2020, Alchemy Renewable Energy, a high growth portfolio company from Monarch Private Capital which owns and operates renewable energy facilities, announced the financial closing of a 44.51-Megawatt (DC) solar, renewable energy portfolio across Indiana with joint venture partner Telamon Enterprise Ventures LLC (TEV).
- May 11, 2020, Excelsior Energy Capital, a leading independent North American renewable energy investor, acquired 5 ground-mount solar projects from development partner, Nokomis Energy.
- May 11, 2020, Hull Street Energy acquired 100% of the interests in Gauley River Power Partners, LLC, which operates an 80-megawatt hydroelectric generating facility in Summersville, West Virginia, from Enel Green Power North America and GE Energy Financial Services.
- May 14, 2020, Spruce Finance, the largest private owner and operator of distributed generation solar residential assets in the U.S., bought Clearway Energy's entire portfolio of residential solar assets.
- May 21, 2020, Southern Power, a leading U.S. wholesale energy provider and a subsidiary of Southern Company, acquired its 13th wind project — the 56-megawatt (MW) Beech Ridge II Wind Facility — from Invenergy, a leading developer, owner, and operator of sustainable energy solutions.
- May 29, 2020, DB Energy Assets, LLC, a partnership of DCO Energy, LLC, and the second flagship Basalt fund announced the acquisition of the natural gas-fired 111 MW Energy Center Dover, LLC from Clearway Energy Group, LLC.
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 June & July, 2020
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(Canceled) AWEA Cleanpower - 2020, Jun. 1 to Jun. 4, 2020, Denver, Colorado, http://ow.ly/NhsM50zsgos
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(Canceled) The APPA National Conference - 2020, Jun. 5 to Jun. 10, 2020, Long Beach, California, http://ow.ly/o81V50zsgvT
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(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
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(Rescheduled) Virtual Conference - IEEE Transportation Electrification Conference and Expo - 2020, from Jun. 24 to Jun. 26, 2020 to Jun. 22 to Jun. 26, 2020, Chicago, Illinois, http://ow.ly/fYvH50zsgxc
- (Postponed to June 25-27, 2021) MREA The Energy Fair - 2020, Jun. 26 to Jun. 28, 2020, Custer, Wisconsin, http://ow.ly/jiF950zSMZS
Early Bird Registration Deadlines
- 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: (Virtual Conference) 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: Rescheduled from Jun. 15, 2020 (to be announced soon)
- (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
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