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NextEra Energy Completes Purchase from Southern Company of Ownership Interests in Two Florida Power Plants

LCG, December 5, 2018--NextEra Energy announced yesterday that it completed the acquisition of Southern Company's indirect ownership interests in the Stanton and Oleander natural gas power plants in Florida. The acquisition was previously announced in May of this year.

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Emera to Sell Three Combined-Cycle Power Plants in New England

LCG, November 29, 2018 --Emera Inc., headquartered in Halifax, Nova Scotia, announced this week that it has agreed to sell three natural gas-fired electric generating facilities that it owns in New England to the investment firm Carlyle Group for $590 million. The combined electric generating capacity of the three facilities is approximately 1,100 MW. The acquisition is expected to close in first quarter 2019.

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Industry News

SRP Expands Plans for New Solar Energy to 1,000 MW by 2025

LCG, November 20, 2018--Salt River Project (SRP) recently announced plans to add 1,000 MW of new utility-scale solar energy to its system by the end of fiscal year 2025. The new plan will accelerate the pace and increase the total capacity of SRP's solar energy resource plans by 700 MW relative to the current resource plans during the same timeframe. The new plan is driven by decreasing costs for solar power and customer's growing interest in solar energy.

SRP plans to add approximately 200 MW of new solar annually through 2025. The incremental installation will provide both the ability to evaluate the impact to the reliability of SRP's electrical grid and valuable operational experience. By the end of fiscal year 2025, SRP will have a total of over 1,200 MW of solar energy capacity and will be considering the installation of more battery capacity to complement the solar energy.

SRP's CEO and General Manager stated, "This proposal represents a growing commitment to sustainability that is both reliable and affordable. It focuses on investments in utility-scale solar projects that have higher solar capture efficiencies and therefore provide optimal value for our customers."

SRP plans to evaluate programs to allocate the new solar capacity to various customer groups, including community solar for residential customers.

"Over the past several months, we have had discussions with residential customers and many of our larger commercial, industrial and municipal customers regarding their needs for sustainable resources. Several customers have asked us to work with them on providing resource options that help them achieve their goals," said SRP's CEO. "This proposal is a foundational part of providing programs that bring increased value to our customers while partnering with them to achieve mutually desired renewable energy goals."
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