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News
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LCG, April 15, 2026--Suniva announced yesterday that it has entered agreements to bring a state-of-the-art 4.5 GW solar cell manufacturing facility to Laurens, South Carolina. The new facility, combined with Suniva’s existing facility at its headquarters in metro Atlanta, will bring the company’s total annual domestic solar cell manufacturing capacity to over 5.5 GW.
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LCG, April 13, 2026--The EIA today released an "In-brief Analysis" of U.S. coal-fired generating capacity retirements in 2025. A highlight of the analysis is that, during 2025, the electric power sector retired 2.6 GW of coal-fired generating capacity at four power plants, which is (i) the least since 2010 and (ii) 5.9 GW less than the planned retirement of 8.5 GW at the beginning of 2025.
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Industry News
AEP Buys Barge Line from Progress Energy
LCG, July 24, 2001--American Electric Power Co. said yesterday that it has executed a definitive agreement for its AEP Resources Inc. subsidiary to acquire the stock of Memco Barge Line Inc. from the Electric Fuels Corp. subsidiary of Progress Energy Corp. for $270 million."The acquisition of Memco is another important part of our growth strategy to create value at various points along the energy chain," said Paul D. Addis, executive vice president of AEP's wholesale activities group. "In this case, the coupling of the Memco barge assets with our existing fleet will add earnings and significant information flow in the sometimes-neglected transportation component of our business."Tom Kilgore, president of Electric Fuels Corp. and head of Progress Energy's non-regulated business unit, said "This sale helps us accomplish our goal by allowing us to focus on growing our wholesale generation, fuel extraction and power marketing and trading operations."The acquisition adds 1,200 hopper barges and 30 towboats to AEP's 605 barges and 15 towboats placing it among the leading barge operators in the country, the company said. Memco has added 860 new barges to its fleet between 1993 and 2000, reducing the average age of the fleet to less than seven years.AEP said its core barge operations will be along the Ohio and Lower Mississippi rivers and along the Gulf Coast, with operations extending to the Upper Mississippi and Illinois, Tennessee- Tombigbee, Black, Monongahela and the Arkansas rivers.The proposed transaction, which is subject to regulatory approvals, is expected to close within 60 days, AEP said. The acquisition is expected to boost earnings immediately.
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