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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

AES May Quit India Power Business if not Paid

LCG, July 20, 2001AES Corp. chief executive Dennis Bakke said yesterday his company may walk out on an electric distribution firm it controls in eastern India if it can't collect money owed it, charge reasonable prices and enjoy a better business environment.

AES has a 51 percent interest in Cesco, a distribution company in the Indian state of Orissa, and also owns 49 percent of Orissa Power Generation Co., operator of a 420 megawatt generating station that sells power to Gridco, the state-run transmission business.

"If satisfactory resolution of these matters is not expeditiously reached, AES will be forced to abandon its commitment to the distribution company," Bakke told reporters yesterday.

The Orissa government initiated criminal proceeding against AES' managing director when the company failed to sequester funds as ordered by state officials.

Bakke said without explanation that Orissa regulators had ordered Cesco to place what receivable it was able to collect in an escrow account. The company could not comply with the order because the money was needed to meet its payroll, he added.

Because of the criminal charges, AES will deposit all revenues in an escrow account, Bakke said, adding "Hence funds will not be available to pay the 8,500 Cesco employees salaries due July 31 andthereafter."

The company's experience with Orissa Power Generation is scarcely better. Bakke said Gridco has owed the generator back bills for two and one-half years, and the total has reached $45 million, causing AES to file for arbitration to collect the money.

Gridco's reason given to Orissa Power Generation for non-payment is that Cesco owes it money. Bakke rejected that explanation, saying "These are standalone businesses, and there is no basis for any such linkage or offset."

In India there may be.

In the early 1990s, India initiated "reforms" in its power sector with the stated aim of attracting foreign investment to ease the country's chronic power shortage. Investors were attracted, and four have walked out, including Electricit de France and Cogentrix.

Enron Corp. is on the verge of walking away from its Dabhol Power Co. in Maharashtra state and now AES may abandon its distribution investment in Orissa.

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