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AES Breaks Ground on Alamitos Energy Center in California

LCG, July 25, 2017--AES Alamitos, a subsidiary of The AES Corporation (AES), broke ground Friday on the new Alamitos Energy Center (AEC), located in Long Beach, California. The facilities include a nominal 640-MW, natural gas-fired, combined cycle power block; four, natural gas-fired,100-MW, simple cycle units; plus a 100-MW battery energy storage system. The new facilities will be installed on approximately 21 acres of the existing 71-acre site, where the existing gas-fired, 1950s-era Alamitos Generating Station Units 1-6 currently provide a net generating capacity of 1,950 MW.

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San Diego County Water Authority Seeks Proposals for 500-MW Pumped Storage Project

LCG, July 21, 2017--The San Diego County Water Authority Tuesday issued a Request for Proposals (RFP) for a potential joint energy storage project with the City of San Diego that would expand use of existing hydroelectric infrastructure at San Vicente Reservoir. The project could potentially dampen water rate increases and provide greater opportunities for renewable energy development in the area.

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Industry News

Dynegy Announces New Agreements to Sell Three Generating Assets

LCG, July 14, 2017--Dynegy Inc. (Dynegy) announced Tuesday that it has reached agreement to sell three of its generating plants for approximately $300 million.

Dynegy reached an agreement to sell its Lee Energy Facility, a 625 MW gas-fired peaking plant located in Illinois and operating in the PJM ComEd region to an affiliate of Rockland Capital. Dynegy will receive $180 million in cash and avoid the incremental capital investment necessary to convert the plant to dual fuel status in order to meet PJM capacity performance obligations.

Dynegy also signed a purchase and sales agreement with Starwood Energy Group Global for two assets totaling $119 million. The two intermediate gas-fired plants are located in Dighton and Milford, Massachusetts and operate in ISO-NE. The two plants have a combined electric generating capacity of 310 MW. The 171-MW Milford plant was one of the generating assets acquired from ENGIE?s United States portfolio in February of this year.

The agreement fulfills the mitigation plan approved by the Federal Energy Regulatory Commission (FERC) regarding Dynegy?s purchase of ENGIE?s US-based asset portfolio. In its December 22, 2016 order, FERC found competitive concerns with respect to the capacity markets in the ComEd Locational Delivery Area (LDA) in PJM and the Southeastern New England (SENE) capacity zone in ISO-NE. Dynegy submitted a mitigation plan to address FERC?s concerns that called for an agreement to sell capacity in SENE within six months of closing.

On Monday, Dynegy announced that it had finalized the sale of two other generating facilities to LS Power for $480 million in cash. Combined with the new transactions, a total of approximately $780 million in aggregate sales proceeds will be used by Dynegy primarily for debt reduction.

The assets sold to LS Power are the Armstrong and Troy Energy Facilities, located in Pennsylvania and Ohio respectively. These facilities operate in PJM and are dual-fueled peaking units. These two facilities were also acquired as part of the ENGIE portfolio acquisition.
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