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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

Senate Rejects Energy Regulation

LCG, April 15, 2002On Wednesday the U.S. Senate refused attempts to regulate the derivatives market as part of the larger, pending energy bill.

Democratic Senators Dianne Feinstein, CA, Maria Cantwell, WA, and Ron Wyden, OR, proposed the amendment, which was to allow for more transparency in otherwise secret energy trading.

The failed amendment, originally spurred by the Enron scandal, requires market players to disclose derivatives trading information in the hope that manipulation of the energy market, as well as unreasonable rate spikes, might be prevented. The three Senators believe that there is a connection between Enron and the unregulated over-the-counter energy market.

Federal Energy Regulatory Commission (FERC) Chairmen Pat Wood and several organizations within the energy industry such as the American Public Power Association, supported the amendment.

However, the opposition, headed by Republican Senator Phil Gramm of Texas, managed to squash it with the argument that Enrons failure was caused by fraud and that the proposed legislation would be detrimental to the over-the-counter derivatives market. Others in the industry suggested that trading might go offshore.

According to the Oregonian, FERC began investigating possible manipulation after an analyst notified them of a 30 percent drop in prices after Enrons December bankruptcy.

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