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New York PSC Approves Ravenswood Energy Storage Project

LCG, October 18, 2019--The New York State Public Service Commission (PSC) yesterday approved construction of the largest battery storage facility in New York State history. The 316-MW Ravenswood Energy Storage Project will be built in Long Island City, Queens, New York and scheduled to be partially operational by March 2021.

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Xcel Energy, EVRAZ North America and Lightsource BP Announce 250-MW Solar Project in Colorado

LCG, October 1, 2019--Xcel Energy, EVRAZ North America and Lightsource BP announced Friday that they have reached a long-term agreement to develop a 240-MW solar facility in Colorado. Lightsource BP will finance, build, own and operate the Bighorn Solar project and sell all the electricity it generates to Xcel Energy under a long-term power purchase agreement (PPA). The project will be built on EVRAZ Rocky Mountain Steel property in Pueblo, making it the largest on-site solar facility dedicated to a single customer in the country.

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Industry News

Northwest Natural Gas Still Wants Enron's Portland General

LCG, Nov. 29, 2001--Northwest Natural Gas. Co. said this morning that it had filed an application yesterday with Oregon regulators seeking approval of its plans to acquire utility Portland General Electric Co. from disintegrating Enron Corp. for about $2.9 billion.

There were fears yesterday that the acquisition could be a victim of Enron's growing troubles, especially after Standard & Poor's slashed its credit ratings to junk status and Dynegy Inc. walked away from a deal to buy out its larger rival.

But Northwest natural Gas is staying the course. The company's general counsel, Mark Dodson, said yesterday "We remain confident the necessary approvals can be obtained in an expeditious manner."

The application to the Oregon Public Utility Commission was the first in a chain of several such filings. The deal also requires approval by the Washington Utilities and Transportation Commission, the Nuclear Regulatory Commission, the Securities and Exchange Commission, the Federal Energy Regulatory Commission, the Federal Trade Commission and the U.S. Department of Justice.

Northwest Natural Gas agreed on October 8 to acquire PGE, Oregon's largest utility, for $1.8 billion plus about $1.1 billion in assumed debt and preferred stock.

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