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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

Allegheny Energy May Delay Annual Report

LCG, Mar. 10, 2003--A thorough analysis of prior years' financial statements may cause Allegheny Energy to have to release its 2002 Form 10-K and its annual report after March 31st.

The company has been receiving assistance in looking for financial statement errors from independent accountants while the audit of its 2002 results is being conducted. Allegheny plans to restate its books from the first two quarters of last year, and possibly all results through September 30th, 2002. The cause of the investigation was the discovery of errors in certain business units' calculations.

Allegheny obtained a credit faciity worth $2.4 billion last month, enabling it to avoid filing for bankruptcy. The energy company disclosed last week that chairman, president and chief executive Alan J. Noia would retire following a 34-year tenure. Noia will remain at the company until a successor is selected.
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