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Matrix Renewables Announces the Commissioning of Pleasant Valley Solar 1

LCG, April 15, 2025--Matrix Renewables announced today the successful commissioning of the Pleasant Valley Solar 1 power generation facility in Ada County, Idaho. The 200-MWac solar facility includes a Power Purchase Agreement (PPA) that was secured through negotiation with Meta and Idaho Power. Matrix Renewables states the facility is the largest operational solar facility in Idaho Power's system. Sundt Renewables, the Engineering, Procurement, and Construction (EPC) services provider, completed construction of the project on March 2nd.

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Duke Energy Seeks to Extend Operating License for Robinson Nuclear Plant

LCG, April 9, 2025--Duke Energy announced yesterday its submission of a subsequent license renewal (SLR) application to the U.S. Nuclear Regulatory Commission (NRC) for the Robinson Nuclear Plant, a 759-MW nuclear unit located near Hartsville, South Carolina. The application requests extending the plant's operations for an additional 20 years.

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Industry News

Credit Rating of Mirant Cut by Moody's

LCG, Oct. 11, 2002--Mirant's exposure to "weak power markets and a continuing lack of investor and counterparty confidence" were cited by rating service Moody's, which downgraded $6.6 billion worth of Mirant debt to a lower sub-investment grade, "Ba3", from a previously issued junk rating.

The merchant energy supplier has $2.7 billion of debt scheduled to expire in 2004. The rating agency found that the company may find it difficult to refinance the debt, although it currently "appears to have adequate liquidity" based on asset sales. Moody's also found that Mirant's cash flow will be reduced by its smaller generation portfolio, which could pose problems if its borrowing costs increase.

Much of the company's ability to shrink its debt load will depend on more asset sales.
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