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News
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LCG, October 18, 2018--Walmart and EDP Renewables (EDPR) announced Tuesday three power purchase agreements (PPA) for electricity generated from three utility-scale wind farms that will be developed, owned and operated by EDPR. The total electric generating capacity from the three new projects to be installed in Illinois and Indiana is 233 MW.
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LCG, October 11, 2018--American Electric Power (AEP) announced plans to retire its coal-fired Conesville electric generating facility in Ohio by May 31, 2020, two years ahead of the previously planned schedule.
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Industry News
CMS Energy to Exit India
LCG, Nov. 12, 2001--Michigan utility holding company CMS Energy Corp. said in an e-mailed news release this weekend that it is planning to sell all of its energy interests in India.Early this summer, CMS said that it was losing its enthusiasm for doing business on the subcontinent after plans to build an 1,850 megawatt power plant along with a liquefied natural gas terminal on the Coromandel Coast, just north of Madras, became hopelessly entangled in red tape.CMS did not say the difficulty of doing business in India was the reason for its planned exit from that country.Kelly M. Farr, the company's director of communications, said "CMS Energy is refocusing its business strategy to repair its overleveraged balance sheet. As such, we will concentrate on our home base of North America for future growth and ultimately sell our energy assets in India."But there are parallels between the $1.6 billion LNG-power plant project and Enron Corp.'s similar $2.9 billion project on the west coast of India.CMS said it would look for buyers for its 49 percent interest in the 200 megawatt Basin Bridge power plant in Madras, its 23 percent stake in a 235 megawatt plant in southern Andhra Pradesh state and its 50 percent share of a 250 megawatt plant under construction south of Madras.CMS has about $690 million invested in those three projects.Farr said no timetable had been set for the sell-off.
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