Tokyo-based Electric Power Subsidiary partners with AP Solar in 400 MW Texas Solar Project

LCG, August 6, 2020—J-Power USA Development Co, a subsidiary of the Electric Power Development Co. headquartered in Tokyo, has joined a joint venture to develop a 400 MW Texas solar project.

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Texas Solar Project Sold to CIP

LCG, July 31, 2020—An affiliate of Copenhagen Infrastructure Partners has completed purchase of a 350 MW solar photovoltaic project near the Houston metro area from Solar Plus Development Inc. and Avondale Solar.

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Industry News

Detroit Edison Asks Okay for $1.85 Billion in Bonds

LCG, July 6, 2000--Business customers of Detroit Edison Co. may be able to enjoy the same 5 percent reduction in electricity costs that householders began getting June 5 as a result of Michigans electric industry restructuring legislation, the company said yesterday.The utility has asked the Michigan Public Service Commission to approve issuance of $1.85 billion in securitized bonds to refinance existing debt. The lower cost of the new borrowing will provide resources to implement a 5 percent rate reduction for all business customers, Detroit Edison said.In addition, the proceeds from the securitization will allow the company to create a fund to benefit low-income and energy efficiency programs in the state.Through the issuance of these bonds and the refinancing impact, all of our customers can begin to see some of the hard fought benefits that can be derived from the recent restructuring legislation,said Anthony F. Earley Jr., Detroit Edison chairman and chief executive. The reductions allow business customers to be more competitive in their own businesses and ultimately contribute to a stronger Michigan economy.Under the restructuring legislation, the commission has 90 days to act on the companys securitization application. Earley hopes it acts fast. Given a timely response by the MPSC and the period of time necessary to complete the refinancing, business customers could see the rate reduction as early as year-end, he said.
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