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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

Lenders may buy Dabhol for $700 Million

LCG, Oct. 30, 2001-- Enron Corp. is in advanced stages of negotiations to sell its stake in Dabhol Power Co. at a 30 per cent discount to Indian financial institutions that hold the majority of the project's paper, the Economic Times reported this morning.

Enron chief executive Kenneth Lay has repeatedly refused to budge from his demand for $1 billion for the company's 65 percent interest in Dabhol, but the paper said talks were in progress over a sale for as little as $700 million.

The Economic Times said the Industrial Bank of India and other lenders are "close to finalizing" an agreement with Enron and could work out a deal within two weeks. Indian Prime Minister Atal Bihari Vajpayee will leave for the U.S. in the second week of November for meetings with President Bush.

The paper cited "sources close to the ongoing negotiations" as saying that the Indian government is eager that the financial institutions take over Dabhol quickly so that the Vajpayee can tell Bush during his visit that justice has been done with regard to the big U.S. energy company.

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