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Avangrid Completes Construction of New, 120-MW Solar Project in Oregon

LCG, June 2, 2026--Avangrid, Inc., a member of the Iberdrola Group, today announced that it has completed construction of its Tower Solar project in Oregon and connected it to the electric grid. Once commissioning activity is complete, the project will deliver energy to Portland General Electric (PGE) and help support QTS operations in the region.

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DTE Energy Invests in 1.5 GW of Michigan-made Battery Energy Storage Systems for Eight Projects

LCG, May 28, 2026--DTE Energy yesterday announced a $1.6 billion investment to develop Michigan-made battery energy storage systems across Michigan through partnering with LG Energy Solution Vertech, the U.S. energy storage division of LG Energy Solution.

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Industry News

El Paso Restates Proven Reserves Downward 35 Percent

LCG, Feb. 18, 2004--El Paso Corp. restated its proven natural gas reserves, taking a $1 billion charge based on the reduction in its reserves by 1.8 trillion cubic feet, to 2.6 trillion cubic feet.

The revision, which was announced following the close of markets yesterday, had been expected based on earlier disclosures by the company, although expectations among analysts were for a smaller restatement than was announced. The company informed the Securities and Exchange Commission that the restatement was approaching, and that if officials desired, it would provide further information.

A similar restatement was made in January, when Royal Dutch/Sheel Group of Cos. revised its estimates of proven reserves, by including 3.9 billion barrels' worth of formerly "proven" reserves of oil with totals that were considered within "scope for recovery". Proven reserves are considered recoverable, whereas the latter category indicates a lesser degree of certainty.
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