/PRNewswire/ -- Oglethorpe Power Corporation announced today that it has reached agreement with Dynegy Inc. to acquire that company's Heard County Power Generation Facility and associated purchase power off-take contract for $105 million.
This natural gas-fired peaking facility is located in Heard County, Georgia and has a generating capacity of approximately 500 megawatts. It has been serving the needs of several of Oglethorpe Power's member cooperatives since 2003 through a purchase power contract that terminates in 2015. In 2016, the facility will be available to meet the needs of a broader group of Oglethorpe's member cooperatives.
"This is a unique opportunity to acquire an asset already operating in Georgia that fits very nicely into Oglethorpe's power supply portfolio," said Elizabeth B. Higgins, Executive Vice President and Chief Financial Officer of Oglethorpe Power Corporation. The sale of the facility is subject to various approvals and is expected to close in the second quarter 2009.
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Showing posts with label power generation. Show all posts
Showing posts with label power generation. Show all posts
Thursday, February 26, 2009
Thursday, January 15, 2009
Obama Stimulus Package to Include $25 Billion for Renewable Energy
/PRNewswire/ -- Congressional leaders together with Barack Obama's new Cabinet are planning a $25 Billion stimulus package in order to meet the President-elect's goal of doubling renewable energy production in the next three years, according to a report in Sunday's Washington Post.
President-elect Obama's Cabinet favors an $8.6 billion extension of the Federal Production Tax Credit, a program that speeds-up the building of new wind power generation projects. In addition, a bi-partisan initiative first backed by Rep. Chris Van Hollen (D-MD) and Rep. Zach Wamp (R-TN) for a National Clean Energy Lending Authority, is likely to be approved by the Obama team. The new agency could receive as much as $10 billion to extend low-interest loans, grants or guarantees to wind, solar and other renewable energy projects.
In the wind sector, most turbine manufacturers are foreign owned and not likely to qualify for stimulus dollars. Analysts expect U.S. based wind power project builders, to be big winners. New Jersey's NRG Energy (NYSE:NRG) which just completed its second wind project in the Texas Panhandle, has received a buy recommendation from UBS. Another wind power company with two projects underway in the Texas Panhandle is Denver based Nacel Energy (OTC Bulletin Board: NCEN). CNBC guest analyst Francis Gaskins has a $4 price target on the company. Nacel Energy closed yesterday at $1.15.
There are even more U.S. companies to like in the solar sector. Analysts at Stanford Capital have issued a buy on Evergreen Solar (NASDAQ:ESLR) with a $3.70 target. Evergreen is based in Marlboro, MA, and is a leading manufacturer of integrated solar modules. Needham and Co. has a buy on New Mexico's Emcore (NASDAQ:EMKR) and a $2 price target. Both Emcore's semiconductors and Evergreen's solar modules expected to benefit from increasing demand as the Obama stimulus plan is implemented over the coming months.
A Before the Bell(TM) renewable energy update.
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President-elect Obama's Cabinet favors an $8.6 billion extension of the Federal Production Tax Credit, a program that speeds-up the building of new wind power generation projects. In addition, a bi-partisan initiative first backed by Rep. Chris Van Hollen (D-MD) and Rep. Zach Wamp (R-TN) for a National Clean Energy Lending Authority, is likely to be approved by the Obama team. The new agency could receive as much as $10 billion to extend low-interest loans, grants or guarantees to wind, solar and other renewable energy projects.
In the wind sector, most turbine manufacturers are foreign owned and not likely to qualify for stimulus dollars. Analysts expect U.S. based wind power project builders, to be big winners. New Jersey's NRG Energy (NYSE:NRG) which just completed its second wind project in the Texas Panhandle, has received a buy recommendation from UBS. Another wind power company with two projects underway in the Texas Panhandle is Denver based Nacel Energy (OTC Bulletin Board: NCEN). CNBC guest analyst Francis Gaskins has a $4 price target on the company. Nacel Energy closed yesterday at $1.15.
There are even more U.S. companies to like in the solar sector. Analysts at Stanford Capital have issued a buy on Evergreen Solar (NASDAQ:ESLR) with a $3.70 target. Evergreen is based in Marlboro, MA, and is a leading manufacturer of integrated solar modules. Needham and Co. has a buy on New Mexico's Emcore (NASDAQ:EMKR) and a $2 price target. Both Emcore's semiconductors and Evergreen's solar modules expected to benefit from increasing demand as the Obama stimulus plan is implemented over the coming months.
A Before the Bell(TM) renewable energy update.
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www.fayettefrontpage.com
Fayette Front Page
www.georgiafrontpage.com
Georgia Front Page
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