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Los Angeles Moves A Step Closer to Approving Huge Solar with Battery Storage Installation

LCG, September 12, 2019--The Los Angeles Department of Water and Power (LADWP) Board of Commissioners unanimously approved a plan on September 10 to install a 300-MW/1,200-MWh battery energy storage system (BESS) located at 8minute Solar Energy's (8mSE) Eland Solar and Storage Center.

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FERC Accepts LNG Permit Application from Commonwealth

LCG, September 4, 2019--Commonwealth Projects, LLC yesterday announced that the Federal Energy Regulatory Commission (FERC) has formally accepted Commonwealth LNG, LLC's filing application to construct one liquefied natural gas (LNG) plant at the mouth of the Gulf of Mexico near Cameron, Louisiana. The company stated that it is on schedule to commence operations in the first quarter of 2024.

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Industry News

Italy Approves Montedison Takeover by EdF, Fiat

LCG, July 18, 2001Italenergia, the joint vehicle through which Electricit de France and Fiat are making their hostile bid for Italian utility Montedison, won approval yesterday from Italy's stock market regulator Consob after agreeing to raise their offer to at least the minimum required by takeover rules.

Consob found that Italenergia had acquire shares of Montedison at market prices higher than their hostile offer. Under Italian takeover rules, the minimum bid must be the average of the last 12 months' weighted trading average and the highest price paid in the market.

Because the European Union could derail the deal if it suspends, even temporarily, Italenergia's voting rights on the 52 percent of Montedison it already owns, Consob also insisted that the EdF-Fiat vehicle include a warning in its prospectus that Brussels could examine EdF's role in the bid.

For EdF, the takeover would be is means of entry into the Italian energy market. The EU has expressed displeasure with France and the French utility for foot-dragging on opening their own market while taking advantage of the openness of the markets in other EU countries.

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