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NextEra Energy Completes Purchase from Southern Company of Ownership Interests in Two Florida Power Plants

LCG, December 5, 2018--NextEra Energy announced yesterday that it completed the acquisition of Southern Company's indirect ownership interests in the Stanton and Oleander natural gas power plants in Florida. The acquisition was previously announced in May of this year.

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Emera to Sell Three Combined-Cycle Power Plants in New England

LCG, November 29, 2018 --Emera Inc., headquartered in Halifax, Nova Scotia, announced this week that it has agreed to sell three natural gas-fired electric generating facilities that it owns in New England to the investment firm Carlyle Group for $590 million. The combined electric generating capacity of the three facilities is approximately 1,100 MW. The acquisition is expected to close in first quarter 2019.

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Industry News

PSE&G Reaches Preliminary Agreement with New Jersey BPU for Solar Investments

LCG, May 1, 2013--Public Service Electric & Gas (PSE&G) announced yesterday that it reached a preliminary agreement with New Jersey Board of Public Utilities (BPU) to invest up to $446 million in solar projects over three years.

The settlement for solar power investments requires full board approval, and a decision is expected by the end of May. The New Jersey Division of Rate Counsel stated it will oppose the agreement based upon its belief that there are inadequate safeguards to limit utility spending and that the 10-percent return PSE&G would receive is too high.

Under the agreement, PSE&G would spend $247 million on 42 MW of solar generating capacity located on brownfield sites (including landfills), plus 3 MW of smaller projects. In addition, PSE&G would invest up to $199 million on 97.5 MW of new solar generation via a loan system.

In addition to providing renewable power, the investment to develop solar power is also said to be a means to improve reliability in the wake of Hurricane Sandy.
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