Offshore Wind Projects Receive Boost from Massachusetts and Biden Administration

LCG, March 31, 2021--The Governor of Massachusetts signed legislation last Friday that authorizes the state to direct utilities to purchase an additional 2,400 MW of offshore wind energy by 2027.

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NV Energy's Greenlink Nevada Transmission Project Approved by PUCN

LCG, March 25, 2021--The Public Utilities Commission of Nevada (PUCN) on Monday approved proceeding with NV Energy's Greenlink Nevada transmission and renewable energy initiative. NV Energy's planned investment in Greenlink is over $2.5 billion.

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Industry News

Tractebel Gains Ownership in Peruvian Power Auction

LCG, June 14, 2002--An auction of two Peruvian power companies today saw Belgian firm Tractebel submit the winning bid, with a price barely above the $156 million base price.

The auction was set to involve six approved bidders, and also included PSEG Global Inc. and Statkaft AS, while AES Corp., Duke Energy, and NRG Energy failed to participate in the end. The companies auctioned off were Egasa and Egesur, each of which has produced over 20% less energy so far this year as compared to the same period in 2001.

The generation assets of Egasa and Egesur are found in the southern provinces of Peru, consisting of hydropower and diesel generators, only one-quarter of them operational.

So far this year, the government has raised $560 million through privatizations and concessions, with a goal of reaching $800 million. As a way of bolstering the weak economy, half of the proceeds will be committed by the privatization agency ProInversion to infrastructure projects. While an opposition legislator went on a hunger strike against the privatization, large crowds gathered to protest in the city, Arequipa, where Egasa is headquartered. Energy and Mines Minister Jaime Quijandria reflected on the tumultuous, halting process leading to the auction, saying "This isn't possible in a country that wants to attract investment."

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