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New York Poised to Close Last Coal-fire Power Plant

LCG, December 4, 2019--The last operating coal-fired power plant in New York is moving toward closure shortly. Last month, Somerset Operating Company, a subsidiary of Riesling Power LLC, submitted a request to the New York State Public Service Commission (NYSPSC) to waive the state's required, 180-day notice to close the Somerset Station, allowing the facility to be retired on February 15, 2020. Closure is contingent on approvals by both NYSPSC and the New York Independent System Operator (NYISO), which will evaluate if it will cause an adverse effect on grid reliability.

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Construction Commences on Enel’s Aurora Wind Farm in North Dakota

Enel Green Power North America, Inc. (“EGPNA”), the US renewable energy company of the Enel Group, has started construction of the 299-MW Aurora Wind Farm in North Dakota.

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Industry News

Indian Power Firm Meets with Enron in Buyout Talks

LCG, Oct. 2, 2001--Tata Power Co. Ltd., India's larges developer of power plants, is in preliminary talks with Enron to buy the U.S. company's 65 percent stake in the $2.9-billion Dabhol Power Co., the Economic Times said this morning.

"We have had one preliminary meeting," Tata Power's managing director said. "Everyone knows some solution has to be found for Dabhol, and we have submitted a preliminary letter of interest." He added "We will go ahead with this only if it makes sense from the consumers' angle and the stakeholders' angle."

Over the weekend, The Economic Times reported that Tata Power, a unit of India's second-largest conglomerate, would start final negotiations with Enron after consultants JM Financial and Ernst & Young had submitted their report.

Tata Power, which is headquartered in Mumbai, the capital city of the Indian state of Maharashtra, is well-placed to know of the problems Enron has had with the state, the Maharashtra State Electricity Board, Maharashtra electricity regulators and a Maharashtra committee recently set up to resolve the dispute between the American company and its Indian customer.

The various Indian authorities have made repeated attempts to induce Enron to renegotiate terms of agreements reached in the mid-1990s for construction and operation of Dabhol, but the company has just as often refused.

In July, Kenneth Lay, Enron's chairman, said his company wanted out of India and would sell Dabhol for what it had in it -- a little over $1 billion.

The Economic Times quoted a Tata official as saying his company would "demand Enron scale down the price." Enron is not expected to be amenable to that suggestion.

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