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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

Calpine Adds to Natural Gas Reserves

LCG, July 11, 2001Calpine Corp., which is building gas-fired power plants as fast as possible, yesterday said that it has acquired in two transactions 236 billion cubic feet equivalent of proven natural gas reserves in the U.S. Southwest.

Chris Chambers, the company's vice president for business development, said "With these properties in place, Calpine is continuing to meet our goal of owning 25 percent of our natural gas requirements."

Combined, the two deals represent an investment of $355 million plus assumption of $49.5 million in debt, Calpine said.

In a purchase from The Bayless Companies, Calpine acquired certain assets in New Mexico's San Juan Basin, including 35 wells that produce about 6 million cubic feet equivalent a day, 96 percent of which is natural gas. That transaction has closed, Calpine said.

In the second deal, Calpine acquired a majority interest in Michael Petroleum of Houston. Michael Petroleum's gas reserves, located in South Texas, include total proven reserves of 204 billion cubic feet equivalent and currently produce 43 million cubic feet equivalent a day.

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