Calpine Corp., San Jose, Calif., reported making four concurrent offerings of senior notes in the US dollar, Canadian dollar, British sterling, and euro fixed income markets. The Canadian dollar offering will consist of $250 million of senior notes due 2007. The sterling and euro offering will consist of £275 million equivalent of senior notes. The US dollar offerings will consist of $500 million of senior notes. Proceeds will be used to refinance existing bridge loan financings incurred to fund recently completed transactions, working capital, and general corporate purposes, the company said.
SeaWest WindPower Inc., San Diego, Calif., and PG&E National Energy Group, a unit of PG&E Corp., San Francisco, reported the 44.4 Mw Mountain View Power Partners I and the 22.2 Mw Mountain View Power Partners II wind energy projects near Palm Springs, Calif., have begun commercial operation. The California Department of Water Resources will purchase the entire output of the two wind projects, under a long-term contract.
The Empire District Electric Co., Joplin, Mo., said it plans to sell up to $50 million of newly issued shares of its common stock to the public in an underwritten public offering later this year, subject to market conditions. Proceeds from the sale of the additional common stock will be used to pay short-term debt.
Tucson Electric Power Co., Tucson, Ariz., reported surpassing the 1 Mw capacity milestone in photovoltaic solar generation, with the installation of 695 kw of solar panels at the Springerville generating station near Springerville, Ariz. The company said it is expected that another 675 kw of solar generation at Springerville will be ready by the end of November.
Northern Border Pipeline Co., Omaha, Neb., said it completed construction on its Project 2000 and has begun accepting nominations for initial gas deliveries. Project 2000 provides 545 MMcfd of gas transportation capacity into a large industrial region of the Midwest via an interconnect with Northern Indiana Public Service Co. at North Hayden, Ind. Additionally, the project expands Northern Border Pipeline's delivery capability into the Chicago area by 30%.
Falcon Gas Storage Co. Inc., Houston, and Emera Inc., Toronto, reported forming Greyhawk Gas Storage Co. LLC, a joint venture to acquire, develop, own, and operate high deliverability, multicycle natural gas storage facilities in the northeastern US. Under the agreement, Falcon contributed 100% of its Northeast high deliverability gas storage prospects to the joint venture and will serve as manager of the company through its Falcon Northeast Holdings LLC subsidiary.
Keith Companies Inc., Costa Mesa, Calif., said it acquired Pacific Engineering Corp., Portland, Ore., an engineering and design services firm specializing in power transmission and distribution, hydroelectric energy facilities, communications facilities, and other utility infrastructure services. Terms were not disclosed.
Gulfstream Natural Gas System LLC, Houston, reported receiving Federal Energy Regulatory Commission approval to commence mainline pipeline construction in Florida. With this approval, Gulfstream now has all major segments of its 753-mile pipeline project under construction and on schedule to deliver natural gas in June 2002. More than 200 of the 431 miles of offshore pipe have been laid in the Gulf of Mexico.
Nevada Power Co., Las Vegas, Nev., filed a general rate case with the Public Utilities Commission of Nevada, seeking a 3% increase for operating costs. If approved by the PUC, the typical residential customer's rate would rise $4-$5/month in the summer and a $10-$11/month in the winter, beginning in April 2002, the company said.
The Idaho Public Utilities Commission today approved a rate credit agreement between the Bonneville Power Administration and Idaho Power, a unit of IdaCorp., that will result in a $3.60/month reduction for residential and $300/months for small-farm customers. The Idaho Public Utilities Commission negotiated the settlement agreement with commissions from Washington, Oregon, and Montana. Under its settlement agreement with BPA, Idaho Power would receive 120 Mw of benefits from the federal Columbia River power system.
Select Energy Inc., Berlin, Conn., the energy marketing and services unit of Northeast Utilities, said it will buy Niagara Mohawk Energy Marketing Inc., Syracuse, NY, from Niagara Mohawk Holdings Inc. Select Energy said the purchase would expand its revenues roughly 25% and significantly expand Select's business in New York. Terms were not disclosed. Niagara Mohawk said the sale is in keeping with its plan to merge with a unit of the UK 's National Grid PLC.
The marketing arm of El Paso Corp., Houston, said it bought two power plants totaling 200 Mw in Florida and Pennsylvania from Air Products and Chemicals Inc., LeHigh, Pa. The Pennsylvania plant, located in Cambria County, is an 88 Mw facility. The Florida facility, located in Orlando, is a 115 Mw gas-fired power plant. Air Products manufactures industrial gases and chemicals.