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

Judge Lets PG&E Pay Some Creditors

LCG, April 1, 2002-Northern California's bankrupt utility Pacific Gas & Electric was allowed to pay some of its creditors, according to Wednesday's ruling by U.S. Bankruptcy Judge Dennis Montali.

PG&E can now pay back $790 million it owes to eighteen fund managers.

While Judge Montali opposed the repayment at first, he approved the plan because creditors would be allowed to choose by which method PG&E would emerge from bankruptcy.

Meanwhile, creditors have yet to receive ballots on what will be done about the rest of PG&E's reported $12.5 billion debt. Both PG&E and the California Public Utilities Commission have come up with plans to remedy the bankruptcy, and Judge Montali ruled that creditors shall vote later this year on which of the two is best.

Some, such as U.S. Bankruptcy trustee Linda Stanley, think that allowing PG&E to pay down some debt now will sway creditors to vote for the utility's plan rather than the Commission's.

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