Duke Energy Renewables Announces Commercial Operations Achieved for 150-MW Solar Project

LCG, June 20, 2019--Duke Energy Renewables, a subsidiary of Duke Energy, yesterday announced that its 150-MW North Rosamond solar project in Kern County, California, has commenced commercial operation. The power produced from the project is being sold to Southern California Edison (SCE) under a 15-year agreement.

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ERCOT 2019 Summer Quarter Outlook

LCG, May 29, 2019-- LCG released a new summer (June – September 2019) report that looks at how the ERCOT grid copes with strained network conditions. Resource adequacy analysis for the region is especially important during extreme summer loading conditions. This summer the network is under particular scrutiny as the reserves have tightened because of recent retirements.

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Industry News

NRG Files Chapter 11

LCG, May 15, 2003-Yesterday, Xcel Energy Inc. unit NRG Energy Inc. filed for Chapter 11 bankruptcy protection.

NRG filed in U.S. Bankruptcy Court in the Southern District of New York; the company plans to continue regular operations while undergoing restructuring.

NRG has $9.23 billion in debt. Its reorganization plan involves a $752 million debt restructuring settlement with creditors, and it expects to emerge from bankruptcy by year's end. The company will no longer be included in Xcel's financial statements.

Leonard LoBiondo of Kroll Zolfo Cooper LLC will assume responsibility as chief restructuring officer, and John Boken, also from Kroll Zolfo Cooper, will be interim president and chief operating officer.

On Wednesday, shares of Xcel increased by 20 cents or 1.4 percent on the New York Stock Exchange.

Xcel Energy is based in Minneapolis and controls utilities in Colorado, North and South Dakota, Minnesota, Wisconsin, Michigan, and some of the Southwest.

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