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RWE and Meta Announced New PPA for 200-MW Waterloo Solar Project

LCG, March 18, 2025--RWE and Meta today announced a new power purchase agreement (PPA) for offtake from RWE's 200-MW Waterloo Solar Project, which is located in Bastrop County, Texas. Under the agreement, Meta will purchase 100% of the output from the solar facility, which will support Meta's goal of matching its electricity needs with 100 percent clean energy. The project is scheduled to commence onsite construction in late 2025.

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CPUC Approves SDG&E's Westside Canal Battery Energy Storage Expansion Project

LCG, March 14, 2025--The California Public Utilities Commission (CPUC) approved an expansion of San Diego Gas & Electric's (SDG&E) Westside Canal Battery Energy Storage facility. The expansion project is located in California's Imperial Valley and will add 100 MW of energy storage capacity to the existing 131 MW facility. The new capacity is expected to be fully operational by June 2025. Upon completion, the Westside Canal facility, with a total capacity of 231 MW, will be the largest storage asset in SDG&E's utility-owned battery storage portfolio.

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Industry News

Mirant's Debt Rating Lowered to Junk

LCG, October 22, 2002-In line with the state of numerous energy companies lately, Mirant Corporation saw its debt rating lowered to junk status late yesterday by Standard & Poor's Ratings Services.

Mirant, which has outstanding debt of $10.7 billion, went from a unsecured debt rating of BB to BBB-minus.

On October 10, Moody's Investors Service downgraded the company's debt to near junk, at which point Mirant spokespeople made a point of the company's devotion to "strengthen liquidity and reduce trading and marketing activity," as was stated by company chief financial officer Ray Hill.

Mirant owns or controls 17,000 megawatts worth of electric capacity in the United States.

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