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Offshore Wind Projects Receive Boost from Massachusetts and Biden Administration

LCG, March 31, 2021--The Governor of Massachusetts signed legislation last Friday that authorizes the state to direct utilities to purchase an additional 2,400 MW of offshore wind energy by 2027.

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NV Energy's Greenlink Nevada Transmission Project Approved by PUCN

LCG, March 25, 2021--The Public Utilities Commission of Nevada (PUCN) on Monday approved proceeding with NV Energy's Greenlink Nevada transmission and renewable energy initiative. NV Energy's planned investment in Greenlink is over $2.5 billion.

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Industry News

TXU May Sell North Sea Gas Assets

LCG, Aug. 30, 2000TXU Corp. subsidiary TXU Europe said yesterday that it was considering the sale of its North Sea natural gas production business in order to devote the proceeds of such a sale to its energy trading and supply business.

This morning's issue of Financial Times said the company was in talks with four potential buyers for TXU's interests in four gas fields in the southern part of the North Sea. The value of the assets is estimated to be about 150 million ($221 million U.S.).

A TXU Europe official told the paper "Following a number of unsolicited expressions of interest, the company has decided to formalize a review of this part of the business."

TXU Europe, which owns British regional electric company Eastern Energy, paid 310 million ($456 million) earlier this month for Norweb, another REC, from United Utilities, a British firm. On Monday of this week, the company said it would assist Hidroelctrica Cantbrico, Spain's fourth-largest electricity generator, in finding a buyer for itself.

TXU Europe purchased the North Sea assets less than two years ago at a cost of about 120 million ($176 million) in two separate deals with Broken Hill Properties of Australia and Monument Oil and Gas.

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