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

Dynegy Buys into UK Natural Gas Industry

LCG, July 17, 2001U.S. energy firm Dynegy Inc. said yesterday it has agreed to acquire BG Storage Ltd. from its owner BG Group Plc of Britain for 421 million ($590 million U.S.).

Among BG Storage's assets are nine salt caverns, 30 wells with five offshore platforms in the North Sea, about 20 miles of pipeline and a natural gas processing terminal.

Also included is the Rough storage facility, Britain's largest. A partially depleted gas field in the Southern North Sea is used to store gas three kilometers underground. Its unique feature is its huge size, able to store the amount of gas needed to supply the British market for 13 days.

Dynegy said BG Storage's 290 employees will be retained when the deal closes later this summer. The acquisition will become part of Dynegy Europe Ltd.

"This acquisition is the cornerstone of Dynegy's European energy delivery network, which willenable us to capture incremental value in the newly liberalized European Union energy markets," Gary Cardone, president of Dynegy Europe, said in a statement.

Frank Chapman, Chief Executive, BG Group Plc, said: "We have carried out an exhaustive strategic review of BG Storage's operations and concluded that the greatest shareholder value was likely to be achieved through a sale of these assets, and we have worked quickly to realize this outcome. We will continue to enhance our strategic position as the integrated gas major and remain committed to growing the value of our UK assets. The proceeds will be utilized elsewhere to further our aims of growing the business and simultaneously strengthening returns."

The transaction is subject to approval by the British office of Gas and Electricity markets and UK competition authorities.

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