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Doral Renewables Selects NovaSource as Partner to Deploy the 1.6-GWdc Mammoth Solar Project in Indiana

LCG, April 21, 2025--NovaSource Power Services ("NovaSource") recently announced that it has partnered with Doral Renewables and has been selected as the Operations and Maintenance ("O&M") and Generator Operator ("GO") for the Mammoth Solar Project, one of the largest agrivoltaics facilities in the United States.

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FERC and NERC Issue Joint Report on System Performance During the January 2025 Arctic Weather

LCG, April 17, 2025--The Federal Energy Regulatory Commission (FERC), the North American Electric Reliability Corporation (NERC), and its Regional Entities today issued a joint staff report concluding that the nation’s Bulk-Power System (BPS) "performed well during successive cold weather events in January 2025, without major issues in either the natural gas or electric systems."

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Industry News

Mirant Debt Exchange Said to Have Significant Backing

LCG, June 30, 2003--Mirant Corp., which has so far narrowly avoided seeking bankruptcy due to liquidity problems, has said that an offer to bondholders to exchange unsecured bonds for secured bonds has the support of two-thirds of those holding the merchant power developer's debt.

The company stated that it believes it can gain the 85 percent support needed to go ahead with the restructuring, based on the support it says was indicated by an informal committee of bondholders. The secured bonds would mature in 2008, two years later than current bonds. Mirant has told banks that they would have equal priority with bondholders as concerns as much as $1.1 billion in claims.

Mirant has $8.9 billion worth of outstanding debt, and has a payment of $1.125 due next month. In order to increase the chances that its current offer will be accepted, it has included provisions for cash payouts, higher interest rates, and warrants for stock purchases.
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