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Los Angeles Moves A Step Closer to Approving Huge Solar with Battery Storage Installation

LCG, September 12, 2019--The Los Angeles Department of Water and Power (LADWP) Board of Commissioners unanimously approved a plan on September 10 to install a 300-MW/1,200-MWh battery energy storage system (BESS) located at 8minute Solar Energy's (8mSE) Eland Solar and Storage Center.

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FERC Accepts LNG Permit Application from Commonwealth

LCG, September 4, 2019--Commonwealth Projects, LLC yesterday announced that the Federal Energy Regulatory Commission (FERC) has formally accepted Commonwealth LNG, LLC's filing application to construct one liquefied natural gas (LNG) plant at the mouth of the Gulf of Mexico near Cameron, Louisiana. The company stated that it is on schedule to commence operations in the first quarter of 2024.

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Industry News

AEP Shareholder Resolution Emphasizes Risk in Emissions

LCG, Apr. 23, 2003--An AEP shareholder resolution seeking stronger actions by the company to detail measures it is taking to reduce its emissions and assess the possible effects of emissions regulation on its profitability received notable institutional support, with 26.9% of shares voted in favor today.

The resolution was recommended by Institutional Shareholder Services Inc. (ISS), which provides advice to management of pension and mutual funds. Connecticut's pension fund and Christian Brother Investment Services Inc. filed the resolution, expressing the opinion that business risks from emissions need to receive exposure due to the evolution of policy on greenhouse gases. AEP executives responded by saying that profitability could be hurt by further emissions-related investment, and that the company is distinguished by having pursued emission reduction more strongly than its competitors.

A spokesman for AEP, which produces approximately 70% of its electric power from coal, told The Wall Street Journal after the vote, "It looks as if many of them followed the ISS proposal." ISS supported a resolution advocating more focus on renewable energy by ExxonMobil last year which received 20% of the vote. It has also opposed similar measures in the case of Weyerhaeuser Co., a maker of forest products, and for PG&E Corp.
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