Hoosier Closes $240 Million Private Placement
Posted on Oct 7, 2011 in Financing | Comments Off on Hoosier Closes $240 Million Private Placement
On September 30, 2011, Hoosier Energy Rural Electric Cooperative, Inc., closed a $240 million private placement transaction on which Goldman Sachs served as sole placement agent. The transaction included two tranches of notes: the $190 million Series A Notes with a weighted average life of 25.8 years and a coupon of 4.86%, and the $50 million Series B Notes with a weighted average...
Obama Administration Announces Plan to Fast Track the CapX2020 Transmission Project
Posted on Oct 7, 2011 in Grid & Infrastructure, Innovation/Efficiency, Legislative & Politics, Project Development | Comments Off on Obama Administration Announces Plan to Fast Track the CapX2020 Transmission Project
The CapX2020 Project is one of the projects previously identified by the White House as essential to the modernization of the electric grid and the creation of jobs, and on Wednesday, October 6, the Administration announced plans to speed up the federal approval and permitting process. A spokesman for the CapX2020 Project sponsors, including Dairyland Power Cooperative, expressed his...
Tri-State Agrees to Purchase Combined Cycle Facility
Posted on Oct 7, 2011 in Mergers/Acquisitions | Comments Off on Tri-State Agrees to Purchase Combined Cycle Facility
Tri-State Generation and Transmission Association has agreed to a deal whereby Tri-State will purchase a 272 MW natural gas-fired combined cycle facility located in Colorado from Starwood Energy Group. The specific terms of the deal have not been made public, and closing remains subject to regulatory approvals. Powering the West has the full story.
Georgia Nuclear Facility Moves Forward
Posted on Oct 5, 2011 in Permitting | Comments Off on Georgia Nuclear Facility Moves Forward
During recent hearings, the Nuclear Regulatory Commission said Southern Co. and its partners had provided appropriate information for a final decision on the construction of two nuclear units (each with a capacity of about 1,100 megawatts) in east Georgia. Oglethorpe Power Corporation, a Georgia cooperative, will have a 30 percent ownership stake in the facility, and Southern Company...
Basin Electric Cooperative Launches Private Placement
Posted on Oct 5, 2011 in Uncategorized | Comments Off on Basin Electric Cooperative Launches Private Placement
Basin Electric Power Cooperative launched a $300 million private placement market this week. To read more about the private placement, click here. (subscription required)
Hoover Dam Power Allocations Extended
Posted on Oct 4, 2011 in Legislative & Politics | Comments Off on Hoover Dam Power Allocations Extended
On Monday, the U.S. House of Representatives reauthorized the distribution of electricity from Hoover Dam for an additional 50 years. The bill put in place an agreement negotiated by Nevada and large power contract holders in Arizona and California. Under this agreement, large regional users will contribute 5 percent of their allocations to form a 100-megawatt pool of electricity...
Texas Coops Facing Steep Fire-Related Repair Costs
Posted on Oct 4, 2011 in Grid & Infrastructure | Comments Off on Texas Coops Facing Steep Fire-Related Repair Costs
Texas-based Bluebonnet Electric Cooperative estimates the infrastructure repairs stemming from the wildfires in Bastrop County amount to $17.5 million. Some of those funds may be reimbursed by a public assistance grant from the Federal Emergency Management Agency. Pedernales Electric Cooperative, which serves a neighboring area in Texas, reported that it has already spent $416,000 on...
Coop Researching Peak-Time Power Consumption Reduction
Posted on Oct 3, 2011 in Climate Change, Environmental | Comments Off on Coop Researching Peak-Time Power Consumption Reduction
General Electric (GE) Appliances & Lighting and Montana-based Flathead Electric Cooperative (FEC) are partnering up to uncover cost-effective methods of reducing peak-time power consumption. The FEC Peak Time pilot will study power supply costs associated with peak-time demand, which is usually from 5:00 to 7:00 p.m. Participants in the pilot program will each receive a GE...
Solar Energy Gets a Boost in Alabama
Posted on Oct 3, 2011 in Climate Change, Environmental, Innovation/Efficiency, Renewable Energy | Comments Off on Solar Energy Gets a Boost in Alabama
Alabama-based Arab Electric Cooperative (AEC) is making it a little easier for its members to be green. AEC voted unanimously this week to join the Tennessee Valley Authority’s (TVA) Generation Partners incentive program. Under the program, the TVA gives homeowners and businesses a $1,000 incentive to help offset equipment costs, plus a 30 percent federal tax break through 2016. The...
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