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Tokyo-based Electric Power Subsidiary partners with AP Solar in 400 MW Texas Solar Project

LCG, August 6, 2020—J-Power USA Development Co, a subsidiary of the Electric Power Development Co. headquartered in Tokyo, has joined a joint venture to develop a 400 MW Texas solar project.

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Texas Solar Project Sold to CIP

LCG, July 31, 2020—An affiliate of Copenhagen Infrastructure Partners has completed purchase of a 350 MW solar photovoltaic project near the Houston metro area from Solar Plus Development Inc. and Avondale Solar.

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Industry News

Reliant, Mirant Said Pushing SoCal Ed Bankruptcy

LCG, Sept. 20, 2001--Two major power producers in California -- among those the state's governor calls "the biggest snakes on the planet earth" -- are looking for a third to join them in forcing Southern California Edison Co. into involuntary bankruptcy, Reuters news agency reported yesterday evening.

While SoCal Ed remained confident that smaller "qualifying facilities" would grant the utility forbearance, Mirant Corp. and Reliant Energy Inc. are growing impatient, the news service said, citing "creditor sources." It would take a petition from just three creditors to force the company into bankruptcy.

"Those two are solid. They have been courting others to feel them out," said one creditor source, who asked not to be identified.

Duke Energy Corp., which has also been accused by California Gov. Gray Davis of plundering the state, will not be party to such a move, a spokesman said. "We are not going to participate (in a bankruptcy filing)," Duke spokesman Tom Williams said.

Ted Craver, chief financial officer of SoCal Ed's parent holding company Edison International Inc., said on Tuesday that the company would "vigorously oppose any involuntary bankruptcy petition."

A spokesman for Reliant said the company currently has about $337 million in outstanding receivables owed mostly through the California Power Exchange, of which about 60 percent were related to sales to Pacific Gas & Electric Co. and 40 percent to SoCal Ed.

A Mirant spokesman could not immediately confirm how much the company was owed by SCE. In a filing with the U.S. Securities and Exchange Commission last month, Mirant said that it was owed $353 million for power sold through CalPX and the California Independent System Operator as of June 30.

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