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

Goldman Sachs Acquires European Trading Books

LCG, Mar. 7, 2003--The presence of U.S. energy companies in European energy trading has receded further with the announcement by investment bank Goldman Sachs Group Inc. that it has bought trading books from Dynegy Inc. and El Paso Corp.

The two energy companies were seen by analysts as being too highly leveraged to continue trading. Goldman Sachs had earlier been in a partnership with the trading operations of Constellation Energy Group, which owns power plants. Fox-Pitt Kelton analyst Reilly Tierney told Reuters that energy prices "are clearly at distressed levels, so if you thought that the business is going to come around this makes a lot of sense."

Goldman joins a number of other banks that have energy trading, including UBS Warburg, Deutsche Bank, Barclays Capital and BNP Paribas, a French concern. Although representatives of the bank did not disclose how much was paid for the two trading books, El Paso said last month that its gas portfolio in Europe had been purchased for $80 million by an unnamed buyer.
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