AWEA Issues Fourth Quarter 2019 Market Report

LCG, February 7, 2020--The American Wind Energy Association (AWEA) recently released its new U.S. Wind Industry Fourth Quarter 2019 Market Report. AWEA reports new wind turbine installations have added 5,476 MW of electric generating capacity during the fourth quarter, which results in 2019 installations totaling 9,143 MW. The total installations represent an increase over 2018, but the total for 2019 falls short of total annual installations for 2015 and 2016. In addition to new capacity additions, developers completed 2,500 MW of turbine repowerings for the year.

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Duke Energy Florida Announces New Solar Power Projects

LCG, January 29, 2020--Duke Energy Florida (DEF) Monday announced the locations of its two newest solar power plants that will provide a combined installed capacity of nearly 150 MW. DEF is investing an estimated $1 billion to construct or acquire a total of 700 MW of cost-effective solar power facilities from 2018 through 2022 in Florida, and planning for another 1,500 MW of solar generation through 2028.

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Industry News

E·on, BP in Gas-for-Oil Asset Swap

LCG, July 17, 2001Germany's big energy firm Eon AG said yesterday it has reached agreement with British global petroleum giant BP Plc on a swap of assets that will move certain BP gas properties to Eon and some Eon oil interests to BP. A lot of cash will be involved as well.

BP will pay 6.5 billion euros ($5.5 billion U.S.) and assume $950 million in debt for a 51 percent interest in Veba Oel, an Eon subsidiary that owns Aral, Germany's leading chain of gas stations, and will have an option to buy the remaining shares beginning in April. BP said it expects annual savings and revenue increases totaling $200 million if it buys the entire company.

Eon will pay 1.63 billion euros ($1.4 billion) for 51 percent of BP unit Gelsenberg AG, which owns 25.5 percent of Ruhrgas, Germany's largest gas importer and one of Europe's three largest natural gas companies. Eon will also have an option to buy the rest of Gelsenberg beginning January.

Eon, which was formed in 1999 through the merger of utilities Veba AG and Viag AG, earlier this year bought British utility Powergen Plc for $7.4 billion, giving the German company a presence in the British and U.S. electricity markets.

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