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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

PPL Cancels Six Power Projects

LCG, Jan. 7, 2002--Utility holding company PPL Corp said on Friday that it will cancel six new power plants in Pennsylvania and Washington state, representing in the aggregate $1.3 billion worth of projects.

On Friday, EnergyOnline Daily News reported that Mirant Corp., Dynegy Inc., El Paso Corp. and possibly Calpine Corp. were also making significant cutbacks in previously announced projects.

PPL, like the others, cited falling wholesale power prices as the main reason for the cancellations. The companies also said they want to put some meat on their balance sheets in the wake of the collapse of energy trader Enron Corp.

PPL chief executive William Hecht said current market prices and regulatory conditions did not justify PPL's pursuit of the six projects that were in the early stages of development. He pointed to actions by power pools, independent system operators and the Federal Energy Regulatory Commission as having dampened power prices as well as adding uncertainty to the future.

PPL said it would remain on course in the development of $1.5 billion in other power plant projects over the next two years.

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