IdaTech, a subsidiary of Idacorp Inc., reported it delivered a 3 kw fuel cell system to the research and development division of Electricite de France (EDF). IdaTech said EDF will be field testing the prototype unit this spring. The system, delivered to EDF in April 2001, is similar to experimental units that IdaTech is currently testing with the Bonneville Power Administration in the Pacific Northwest, and the units that the company demonstrated in Canada, Japan, and Denmark, in fall 2000.
NRG Energy Inc. agreed to purchase from a unit Duke Energy Corp., a 77% interest in the gas-fired combined cycle 520 Mw McClain energy generating facility in McClain County, Okla. The Oklahoma Municipal Power Authority owns the remaining 23% interest. The merchant generation facility is in the final stages of construction. Terms of the transaction were not disclosed. The sale is expected to close in third quarter 2001.
The New York Office of General Services has awarded American Power Conversion (APC) a contract to supply its surge suppressors, uninterruptible power supplies (UPS), racks and enclosures, and related management software to more than 200 New York state agencies. In addition, this contract enables APC to offer its products to New York municipalities, city and local governments, and all educational institutions.
CMS Energy Corp. Chief Financial Officer Alan M. Wright told investors it will concentrate its future investment and development focus on its higher growth nonutility diversified energy businesses, particularly in North America. The company said it is evaluating potential long-term growth initiatives, including North American gas acquisitions and joint ventures, marketing acquisitions, expanded and new North American liquefied natural gas (LNG) regasification terminals, and various corporate and financial repositioning options, including possible separation of its utility and nonutility businesses. Wright said the plan is expected to produce 10% growth in the long-term.
El Paso Power Finance LLC, an indirect subsidiary of El Paso Corp., said it has arranged debt financing that will allow Madera Power LLC to acquire and refurbish an idled 25 Mw biomass power plant near Fresno, Calif. The plant is expected to be operational in June 2001. The company said it is in negotiations with several parties to purchase 100% of its power generation.
Allegheny Energy Inc. said its unregulated generation subsidiary, Allegheny Energy Supply Co. LLC, has completed the purchase of 1,710 Mw of natural gas-fired merchant generating capacity in three Midwest states from Enron North America, a unit of Enron Corp. Allegheny said the Midwest acquisition was financed through a combination of debt and equity and will be accretive to Allegheny Energy's earnings in 2001.
ESBI Alberta Ltd., Alberta's transmission administrator, said it negotiated a contract for 80 Mw of reserve power from Powerex, the wholly owned marketing subsidiary of BC Hydro. Alberta is required to have a 7% additional electricity capacity on "standby" to keep the electric system balanced and stable. Vice-pres. Eamonn Duggan said the purchase frees up 80 Mw of electricity in Alberta.
Canada's TransAlta Corp. said it reached an agreement to buy a minority interest in Calgary-based Mercury Electric Corp. for $5 million. Mercury Electric is a privately held independent power producer focused on serving the distributed generation and oilfield marketplaces. Mercury employs a range of power generation solutions from 75 kw-20 Mw.
Arch Coal Inc. said it priced at $33/share a public offering of 8.5 million shares of its common stock. The net proceeds to the company, after the underwriting discount and expenses, is estimated to be $266.3 million if the overallotment option is not exercised and $306.3 million if it is fully exercised. The proceeds will be used to repay indebtedness.
AES NewEnergy, the retail unit of AES Corp., said it has been granted an electric supplier license from the the New Hampshire Public Utilities Commission. The license, effective Apr. 18, allows AES NewEnergy to offer electric generation services to commercial and industrial customers throughout New Hampshire.
A California Energy Commission siting committee has recommended licensing a proposed 530 Mw addition to the existing Contra Costa power project near Antioch in Contra Costa County proposed by Mirant Delta LLC, a unit of Mirant Corp. The commission will consider approving the document at its regularly scheduled May 30 meeting. Estimated to cost between $240 million-$290 million, the new power plant is expected to take 22 months to construct and should be on line by mid-2003.
Erga SPA, the renewable energy subsidiary established in 1999 by Enel SPA said a consortium, which includes Erga's North American subsidiary CHI Energy Inc., has won the right to study and develop up to 25 Mw of wind generation in the province of Labrador and Newfoundland, Canada. Newfoundland & Labrador Hydro (HYDRO), the fourth largest utility in Canada, awarded its wind energy demonstration project to the NeWind Group consortium, which includes CHI, fga Consulting Engineers Ltd., and Quadratec Inc. The project would be the first wind generation facility on Newfoundland Island.
PG&E Corp. reported a first quarter loss due to a $1.1 billion charge for wholesale power costs that cannot be recovered. Including the charge, PG&E said it lost $951 million, or $2.62/share. PG&E's California utility Pacific Gas & Electric Co. filed for bankruptcy protection in April. Before the charge and special items, PG&E said income from operations for the quarter was $243 million, or 67¢/share, down from $284 million, or 78¢/share in 2000. Operating revenue rose to $6.68 billion in the 2001 first quarter, up from $5.01 billion in the year earlier period.