Tokyo-based Electric Power Subsidiary partners with AP Solar in 400 MW Texas Solar Project

LCG, August 6, 2020—J-Power USA Development Co, a subsidiary of the Electric Power Development Co. headquartered in Tokyo, has joined a joint venture to develop a 400 MW Texas solar project.

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Texas Solar Project Sold to CIP

LCG, July 31, 2020—An affiliate of Copenhagen Infrastructure Partners has completed purchase of a 350 MW solar photovoltaic project near the Houston metro area from Solar Plus Development Inc. and Avondale Solar.

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Industry News

Power Project Developers Cutting Back, WSJ Says

LCG, Jan. 4, 2002--Sliding wholesale electricity prices are causing developers of power plants to rethink their plans and many are cutting back on projects already under development, the Wall Street Journal reported this morning.

Another factor in the cutback is the recent harsh treatment of corporate debt levels by credit rating agencies and the effect credit downgrades has had on the market capitalization of some power producers.

According to the Wall Street, a research group found that about 18 percent of announced projects will not be completed. Energy Insight, a Colorado-based unit of McGraw-Hill Cos., said that 91,139 megawatts of new generation, out of a total announced 503,780 megawatts, had been scrapped or delayed by the end of last year.

According to the paper, Energy Insight's conclusions are based on company releases and may understate marketplace conditions.

Mirant Corp., Dynegy Inc. and El Paso Corp. have all said they would trim their power project plans for 2002 and Calpine Corp. will make a similar announcement later this month, the Wall Street said.

More optimistic voices have said the decline in wholesale power prices is at least partially due to a sluggish national economy and delaying power projects now will only result in another power shortage in a few years.

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