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TVA Board Votes to Retire Over 2,000 MW of Coal-fired Generation

LCG, February 14, 2019--The Tennessee Valley Authority (TVA) Board voted today to retire both the Paradise Unit 3 and Bull Run coal-fired power plants within the next few years. The closures will reduce the TVA fleet electric generating capacity by 2,031 MW.

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MHPS to Supply Three J Class Turbines for Power Project in Virginia

LCG, February 8, 2019--Balico, LLC and Gemma Power Systems selected Mitsubishi Hitachi Power Systems Americas (MHPS) and its J Class turbines for the 1,600-MW Chickahominy Power Station project in Virginia. The combined cycle power plant will deliver power into the PJM regional transmission grid and is scheduled for completion in 2022.

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Industry News

Dominion Virginia Acquires Calpine Interest in Plant

LCG, August 4, 2003--Calpine has arranged to sell its 50 percent interest in the Gordonsville power plant to Dominion Virginia, which currently purchases power from the plant under a long-term contract.

The deal was considered necessary by Calpine to improve its liquidity. It will realize a cash payment of $31.5 million, part of which is a $5.5 million return of debt-service reserve from the project.

The deal will need to be granted regulatory approval before being finalized. According to Calpine's spokeswoman Katherine Potter, Dominion Virginia, a subsidiary of Dominion Resources Inc., plans to pay off $44 million of non-recourse debt connected with the project that it would assume as part of the sale.
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