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Tokyo-based Electric Power Subsidiary partners with AP Solar in 400 MW Texas Solar Project

LCG, August 6, 2020—J-Power USA Development Co, a subsidiary of the Electric Power Development Co. headquartered in Tokyo, has joined a joint venture to develop a 400 MW Texas solar project.

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Texas Solar Project Sold to CIP

LCG, July 31, 2020—An affiliate of Copenhagen Infrastructure Partners has completed purchase of a 350 MW solar photovoltaic project near the Houston metro area from Solar Plus Development Inc. and Avondale Solar.

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Industry News

ISO-NE Capacity Auction Includes New Resources to Provide Grid Reliability in 2019-2020

LCG, February 12, 2016--ISO New England (ISO-NE) yesterday announced results from its annual capacity auction that show sufficient resources to meet electric demand in 2019-2020 at a lower price, and including over 1,400 MW of new electric generating capacity. The new capacity is needed to compensate for recently retired and retiring generators that total over 4,200 MW by 2019. The retirements include the non-carbon emitting, 680-MW Pilgrim Nuclear Power Station. ISO-NE uses the auction to procure future resources to meet forecast demand three years in the future.

The tenth Forward Capacity Market (FCM) auction (FCA #10) ended Monday. The auction results include 35,567 MW of capacity that cleared the auction to meet the 34,151 MW Installed Capacity Requirement (ICR) for 2019-2020. The cleared capacity includes 31,371 MW of generation, of which 1,459 MW is new generation; 2,746 MW of demand-side resources, of which 371 MW is new; and 1,450 MW of imports from New York and Canada.

The president and CEO of ISO New England stated, "Competition was robust in this year's Forward Capacity Auction. The high participation in the auction demonstrates the interest in the New England marketplace and bodes well for meeting future resource adequacy requirements. Developers were drawn to the New England marketplace because the price of capacity supports construction of new resources. It's important to have a capacity market that places an appropriate value on the product to maintain an adequate supply. This auction procured the resources needed to keep the lights on in New England at a price lower than last year's auction and, in fact, lower than the estimated cost of building a new power plant. More than 850 megawatts of new generating capacity cleared in the Greater Boston, Southeast Massachusetts and Rhode Island zone where the resources are needed most."

Proposed new generators that cleared the auction include: approximately 485 MW of the Burrillville Energy Center 3 in Burrillville, Rhode Island; 484 MW at Bridgeport Harbor 6 in Bridgeport, Connecticut; and 333 MW at Canal 3 in Sandwich, Massachusetts. All three energy facilities will burn natural gas as their primary fuel, with oil as their secondary fuel. Other types of new generating resources that cleared the market include 27 MW of wind and 44 MW of solar.

PSEG Power Connecticut expects to begin construction on the $550 million Bridgeport facility in 2017, with a target completion by June 2019. The new facility will be located at PSEG Power Connecticut's existing Bridgeport Harbor Station site.
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