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Governor of Rhode Island Calls for 600 MW of Additional Offshore Wind Energy

LCG, October 29, 2020--The Governor of Rhode Island announced this week that the state will issue request for proposals (RFP) to procure up to 600 MW of new offshore wind energy.

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U.S. Department of Energy Announces First Awards under Advanced Reactor Demonstration Program

LCG, October 16, 2020--The U.S. Department of Energy (DOE) this week announced it has selected two U.S.-based teams to receive $160 million in initial funding under the new Advanced Reactor Demonstration Program (ARDP).

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Industry News

Florida Progress Must Sell Ball Club to Get Merger Approval

LCG, Nov. 28, 2000--CP&L Energy Inc., which said over the weekend that its acquisition of Florida Progress Corp. is scheduled to close on Thursday "pending approval by the Securities and Exchange Commission" may not get that approval as easily as it thought.

The Tampa Tribune reported this morning that Florida Progress has to sell its interest in the unfortunately-named Tampa Bay Devil Rays, thought of by some as a major league baseball team, before the SEC will sign off on the merger.

Florida Progress invested $5 million to bring major league ball to Tampa in the form of the Devil Rays, which gives it a 5.8 percent interest in the team but no say in its management. That is just as well for the utility, because it does not need customers complaining about the club's 69 and 92 record this year, which was good enough for last place in the American League East.

The SEC may grant a conditional approval, allowing consummation of the merger, with a must-sell date for getting rid of the Devil Rays. An earlier filing by CP&L Energy contemplated March 31, 2006, as such a deadline. Based on performance to date, it is unlikely the team will be coming off a pennant-winning year at that time.

CP&L spokesman Keith Poston said "It was never our intention to sell the interest in the Devil Rays, (but) it was clear that they (SEC officials) did not believe that the Devil Rays interest would pass muster."

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