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FERC Proposes NEPA Revisions to Streamline Air Quality Analyses and Accelerate Natural Gas Projects

LCG, October 16, 2026--The Federal Energy Regulatory Commission (FERC) announced on Thursday its new proposal to revise and accelerate its review of air quality effects for proposed natural gas projects under the National Environmental Policy Act (NEPA). The draft policy statement highlights revisions designed to (i) avoid unnecessary delays and duplicative analysis and (ii) deliver greater regulatory certainty and a streamlined path forward for project applicants.

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AEP Announces 702-MW Bloom Fuel Cell Project to Serve Google in Wyoming

LCG, October 14, 2026--American Electric Power (AEP) today announced plans for a 20-year power purchase agreement (PPA) with Google, under which AEP will invest approximately $4 billion to advance a new 702-MW fuel cell generation project located near Cheyenne, Wyoming. Google will acquire power from Cheyenne Fuel Cell, LLC, which is approximately 92 percent owned and controlled by AEP and 8 percent owned by funds advised by Basalt Infrastructure Partners, LLP. AEP and its partners plan to start construction this year and to be fully operational by the end of 2028.

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Industry News

Big Hidrocantábrico Shareholders Back RWE Bid

LCG, March 1, 2001RWE AG of Germany, which is bidding against Electricidade de Portugal to acquire Spain's Hidroelctrica del Cantbrico, said yesterday it had won the backing of two Spanish families which between them own 5 percent of Hidrocantbrico and from a private equity fund that is in the process of acquiring 10 percent of Spain's fourth largest power generator.

RWE said it expected to get support from private investors owning another 10 percent of the Spanish utility, which would give it a healthy 25 percent backing and a good chance of upsetting Electricidade de Portugal, which most observers consider the frontrunner.

Hidrocantbrico has been the target of takeover bids for the past two years, but Dietmar Kuhnt, RWE's chairman, thinks his company will be the one to make it happen. "We are aiming for leadership in both voting rights and capital - it cannot be our aim to create an ownership situation that would lead to a stalemate with EdP," Kuhnt said.

Hidrocantbrico's voting rules limit shareholders, regardless of the size of their holdings, to a 10 percent vote. Thus it is far better to have four supporters with 10 percent each than two with 20 percent each. By the same token, it does not make sense for a suitor to acquire more than 10 percent on its own.

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