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

SDG&E parent Expects 37 Percent Profit Jump

LCG, July 18, 2000--Sempra Energy, the parent company of San Diego Gas & Electric, has forecast that it will report substantially higher earnings for the quarter ended June 30, beating last years figures by as much as 37 percent.

At the same time, SDG&E electricity customers in Southern California have seen their electric bills double since May.

The utility says it is not responsible for the price spikes that have driven the average householders bill from around $50 to more than $100 per month. The company no longer generates power, having sold its power plants as part of the restructuring of Californias electric industry, and now must purchase power in the open market.

While SDG&E was explaining about the wholesale power market, its parent Sempra was explaining about its big increase in profits. It seems a Stamford, Conn.-based subsidiary, Sempra Energy Trading, cut a fat hog buying electricity and other energy commodities cheap and selling them dear.

SDG&E customers might be excused if they ask why Sempra Energy Trading didnt show a little favoritism to a sister company. Justin McCann, an analyst with Standard & Poors Equity Group agreed that that sort of question could trouble the company. "The utilities are very careful about a kind of backlash from consumers," he said.

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