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PacifiCorp Issues RFP for Over 4,300 MW of Generation Resources

LCG, July 9, 2020--PacifiCorp Monday issued the largest request for proposals (RFPs) for energy projects in company history, seeking more than 4,300 MW in solar, wind and battery storage resources that can connect to its 10-state transmission system and achieve commercial operation by December 31, 2024.

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Analysis of Resource Adequacy in ERCOT - July - December 2020

LCG, June 30, 2020 - LCG Consulting just released its analysis of ERCOT for the second half of 2020, July through December.

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Industry News

Reliant to Acquire Orion Power in $2.9 Deal

LCG, Sept. 27, 2001--Reliant Resources Inc. and Orion Power Holdings Inc. announced jointly this morning that they have agreed for Orion to be acquired by the Reliant Energy Inc. spinoff in a transaction valued at about $2.9 billion.

The companies said Reliant Resources will also assume around $1.8 billion of Orion Power's net debt and that they anticipate that the transaction will be completed early next year.

Houston-based Reliant said it would pay $26.80 per share in cash for Orion, a price that represents a premium of about 40 percent based on recent trading levels for Orion.

Reliant said the deal would bolster its position as a leading provider of wholesale power, gas, and energy services, combining Reliant Resources' 14,100 megawatts of domestic capacity in operation or under construction with Orion Power's 6,500 megawatts.

The acquisition is structured as a cash merger and is conditioned upon approval by Orion Power's shareholders and regulatory approvals. Shareholders owning a majority of Orion Power's outstanding stock, including Goldman, Sachs & Co. and its affiliates, Constellation Energy Group, Inc., Mitsubishi Corp. and Tokyo Electric Power Co. International, have agreed to vote their shares in favor of the transaction.

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