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

Possible $1.7 Billion Settlement Between El Paso Corp and California

LCG, March 21, 2003El Paso Corporation settled with the state of California over allegations of energy market manipulation, according to a San Francisco Chronicle source.

California accused the massive pipeline company of manipulating natural gas transport in order to drive up the cost of natural gas. This alleged activity would have had a direct effect on the price of electricity and would have contributed to the western energy crisis of 2000 and 2001.

According to the Chronicle, El Paso will give Californians aggregate discounts on natural gas and electricity totaling $1 billion over 20 years. Californian agencies and some private companies will directly receive an additional $225 million worth of cash and stock. Another $440 million in cash will be given to the same groups over the next 20 years.

Washington, Oregon, and Nevada will also see about $100 million from the settlement.

Apparently, El Paso officials who were rewarded with $2 million worth of bonuses for the corporations 2000 and 2001 profits will give up their bonuses. According to the Chronicles analysis, El Pasos profits went from negative $44 million to $341 million, if numbers are compared from before and during the California energy crisis.

El Paso executives insist that the corporation did not participate in any manipulative or illegal activities and are merely settling because of political realities and hostile public sentiment.

The Federal Energy Regulatory Commission has scheduled an evidentiary meeting regarding Californias allegation next Wednesday, and FERC has already said all evidence will be made public.

Many public and private parties filed suit against El Paso regarding possible illegal pipeline allotment, including several companies involved with the production of glass, a very energy consumptive process that requires high natural gas volume.

California had originally sought $3.7 billion from El Paso and, under this settlement, will withdraw its filing to FERC.

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