California PUC Targets Doubling Renewable Energy by 2030

LCG, March 27, 2020--The California Public Utilities Commission (CPUC) yesterday unanimously approved a new emissions target for its electric sector that would double California's clean energy capacity through 2030 and effectively block new natural gas-fired electric generating facilities.

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Tennessee Valley Authority Issues RFP for 200 MW of Renewables

LCG, March 19, 2020--The Tennessee Valley Authority (TVA) issued a request for proposals (RFP) on March 13 to develop up to 200 MW of stand-alone renewable energy resources or renewable energy resources configured with battery energy storage systems (BESS). Solar resources must be tracking, and the projects must be commercially operational and providing power by September 29, 2023 or earlier.

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Industry News

Trans-Alta Sells Transmission Business for $560 Million

LCG, July 6, 2001Trans-Alta Corp. has agreed to sell its power transmission business for $850 million ($560 million U.S.) to a consortium of companies led by SNC-Lavalin Inc. and the Ontario Teachers' Pension Plan Board, Canada's National Post reported yesterday.

The sale was the final step in Trans-Alta's shift to electric generation and marketing. "It was challenging," said chief executive Steve Snyder. "This is it, in terms of the core restructuring."

The company, headquartered in Calgary, Alberta, said it had sold about $2 billion ($1.3 billion U.S.) in assets during the past two years and would spend up to $1.5 billion ($1 billion U.S.) per year over five years expanding its generation capacity.

The purchasing group, known as Alta-Link also includes Trans-Elect Inc., a new U.S.-based independent power transmission company that is keen to add additional transmission capacity to the North American power grid, and Macquarie North America Ltd., an Australian-owned investment bank.

Trans-Elect will operate the lines and own 10 percent of the business. The teachers pension fund will assume all the involved debt and own 25 percent, SNC will own 50 percent of the business and Macquarie North America, about 15 percent.

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