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Virginia Governor Signs Executive Order to Drive Renewable Energy Installations

LCG, September 18, 2019--The Governor of Virginia signed an Executive Order 43 yesterday setting statewide goals for clean energy deployment and expands upon the Commonwealth's commitments to reduce the environmental impact, mitigate the impacts of climate change, and boost the clean energy economy in Virginia.

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Los Angeles Moves A Step Closer to Approving Huge Solar with Battery Storage Installation

LCG, September 12, 2019--The Los Angeles Department of Water and Power (LADWP) Board of Commissioners unanimously approved a plan on September 10 to install a 300-MW/1,200-MWh battery energy storage system (BESS) located at 8minute Solar Energy's (8mSE) Eland Solar and Storage Center.

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Industry News

KCP&L Sells Some Colorado Gas Assets

LCG, Sept. 21, 2000--Kansas City Power & Light Co. said yesterday hat its natural gas development subsidiary would sell about 24,000 acres of producing natural gas properties to EvergreenResources Inc. for $70 million in cash, $100 million in mandatory redeemable preferred stock and $6 million in Evergreen common stock.

The properties KLT Gas Inc. has agreed to sell to Evergreen are located in the Raton Basin of Colorado and represent about fifteen percent of the Company's current natural gas development acreage, the company said.

Gregory J. Orman, chief executive of KLT, said "We have developed these properties to the stage where they are an excellent fit for the buyer, which has allowed us to sell the assets and redeploy the capital in other high growth opportunities."

The transaction will produce a gain of between 60 cents and 80 cents per share for KCP&L, depending on accounting treatment. Bernie Beaudoin, president of the Kansas City utility, said "The significant gain on the sale of these properties demonstrates our ability to create value. We envision a continuous process of recognizing gains for our shareholders through these kinds of transactions."

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