Former Pedernales General Manager Sentenced to Probation
Posted on Dec 13, 2010 in Corporate Governance, Litigation | Comments Off on Former Pedernales General Manager Sentenced to Probation
A jury has sentenced Bennie Fuelberg, former general manager of Pedernales Electric Cooperative, to probation and a $30,000 fine.
Socorro Electric Cooperative Members Attempt to Recall Board
Posted on Dec 13, 2010 in Corporate Governance, Derivative Suits | Comments Off on Socorro Electric Cooperative Members Attempt to Recall Board
A New Mexico newspaper has a report on efforts by Socorro Electric Cooperative’s members to recall the board of trustees. Socorro is currently in litigation over its corporate transparency and treatment of patronage capital.
Spotlight on Novi Energy LLC
Posted on Dec 12, 2010 in Project Development, Renewable Energy, Technology | Comments Off on Spotlight on Novi Energy LLC
Crain’s Detroit Business has an article on Novi Energy LLC, an energy consulting and alternative-energy facility development company. Among other projects, Novi is working with Northern Virginia Electric Cooperative on a 49.95-MW biomass plant, which runs on “slash” (i.e., discarded and burned tree parts).
Williamsburg Lawmakers to Monitor Coop’s Coal Plant
Posted on Dec 10, 2010 in Project Development | Comments Off on Williamsburg Lawmakers to Monitor Coop’s Coal Plant
Lawmakers in Williamsburg, Virginia, have informed the U.S. Army Corps of Engineers that they will monitor a proposed coal-fired plant that is being developed by Old Dominion Electric Cooperative. The lawmakers cite potential impacts on pollution and tourism. Old Dominion had previously announced an 18-24 month delay on the $6 billion project.
Former Pedernales General Manager Convicted
Posted on Dec 10, 2010 in Corporate Governance, Litigation | Comments Off on Former Pedernales General Manager Convicted
The Statesman reports that Bennie Fuelberg, former general manager of Pedernales Electric Cooperative, has been convicted on all counts of theft, money laundering, and fiduciary misapplication of property. Fuelberg had been with the coop for 30 years, before stepping down in 2008.
Calpine Sells 25 Percent Interest in Gas Plant to Rayburn Country Electric Cooperative
Posted on Dec 9, 2010 in Financing, Grid & Infrastructure, Project Development | Comments Off on Calpine Sells 25 Percent Interest in Gas Plant to Rayburn Country Electric Cooperative
Rayburn Country Electric Cooperative has purchased a 25 percent stake in the 1,038-MW Freestone Energy Center near Fairfield, Texas. The price is $215 million. Calpine will remain majority owner of the combined-cycle, natural gas-fired plant.
Pennsylvania Coop To Provide Holiday Rate Reduction
Posted on Dec 9, 2010 in Rates | Comments Off on Pennsylvania Coop To Provide Holiday Rate Reduction
‘Tis the season for giving, and a Pennsylvania electric cooperative, Tri-County Rural Electric, is giving a $15 reduction on all members’ bills.
Update on Coop Members’ Lawsuit Against Santee Electric Cooperative
Posted on Dec 8, 2010 in Corporate Governance, Derivative Suits, Litigation, Patronage Capital | Comments Off on Update on Coop Members’ Lawsuit Against Santee Electric Cooperative
The Weekly Observer (South Carolina) provides an update on the lawsuit brought by coop members against Santee Electric Cooperative. The article looks at coop members’ reaction to Santee’s recent audit report, which includes recommendations on board election bylaws and procedures. The lawsuit against Santee involves allegations of corporate mismanagement, as well as a...
North Dakota G&T Coop to Receive Over $500 Million in RUS Loan Guarantees; Georgia’s Oglethorpe to Receive $373 Million
Posted on Dec 8, 2010 in Financing, Legislative & Politics, Project Development | Comments Off on North Dakota G&T Coop to Receive Over $500 Million in RUS Loan Guarantees; Georgia’s Oglethorpe to Receive $373 Million
Basin Electric Power Cooperative, a G&T based in North Dakota, will receive more than $500 million of the $2.9 billion in federal loan guarantees from Rural Utilities Service(RUS) (subscription required). Nearly $405 million is slotted for a 300-MW natural gas-fired power plant. The rest is slotted for two wind projects that will generate 120 MW. Oglethorpe Power Corporation,...
Berkshire Wind Project Nearing Completion
Posted on Dec 6, 2010 in Project Development, Renewable Energy | Comments Off on Berkshire Wind Project Nearing Completion
The Republican reports that the Berkshire wind project is nearing completion. The project has ten turbines, each 1.5 MW. The Berkshire Wind Power Cooperative Corporation is made up of Massachusetts municipal utilities and the Massachusetts Municipal Wholesale Electric Company.
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