More Power Industry Financial News

Dresser-Rand shareholders approve merger agreement with Siemens


Dresser-Rand Group Inc. (NYSE: DRC) announced that its stockholders have approved the merger agreement with Siemens Energy (NYSE: SI).

Montana-Dakota Utilities to acquire wind farm from ALLETE


Montana-Dakota Utilities Co., a division of MDU Resources Group (NYSE:MDU) has signed an agreement to purchase a 107.5-MW wind farm being developed by ALLETE Clean Energy, a subsidiary of ALLETE, Inc. (NYSE:ALE).

Xcel Energy names new SVP


Xcel Energy (NYSE: XEL) has announced that Marvin McDaniel, senior vice president and chief administrative officer, will service as senior vice president of its Revenue Group, effective Jan. 1. 

TerraForm sells $350M stock for First Wind acquisition


SunEdison Inc.’s renewable energy power plant operating unit, TerraForm Power Inc., is selling $350 million in stock to help fund its portion of a $2.4 billion acquisition of First Wind Holdings LLC.

Con Ed to pay part of $24M gas plant cleanup


Consolidated Edison Co. (Con Ed) will have to pay part of an estimated $24 million in cleanup costs tied to a former polluted manufactured gas plant, a New York federal judge ruled on Nov. 21.

Fort Drum powered by wood in renewable energy push


Bulldozers rumble up and down steaming mountains of wood chips 24 hours a day, stoking the boilers that provide electricity to all 168 square miles of Fort Drum, home of the Army's 10th Mountain Division.

More nuclear units return to service; spot power prices slip below $50


The power generation snapshot for Nov. 24 indicates that temperatures have moderated; spot gas and power prices have decreased and fewer nuclear power reactors are offline.

FERC approves Exelon, Pepco merger


The Federal Energy Regulatory Commission (FERC) approved a merger between Exelon Corp. (NYSE: EXC) and Pepco Holdings Inc. (NYSE: POM).

Iran nuclear talks to be extended until July


Nuclear negotiators have failed to meet a Monday deadline for a deal that would ease international concerns about Iran's atomic program and are poised to extend the negotiations for a comprehensive agreement until July 2015, diplomats said.

Report: EPA’s Clean Power Plan will raise energy prices


The cost of electricity and natural gas will increase by nearly $300 billion in 2020 compared to 2012 prices, according to the “Energy Market Impacts of Recent Federal Regulations on the Electric Power Sector,” report conducted by Energy Ventures Analysis, Inc.

EU residential energy prices climbing faster than US


European residential electricity prices have significantly exceeded U.S. prices, and the gap has widened in recent years.

Plan divides billions in closed nuke plant costs


California regulators have approved a settlement to divide billions of dollars in costs from the closed San Onofre nuclear power plant.

Bechtel, Siemens, Panda Power Funds dedicate Sherman Power Project in Texas


Panda Power Funds, Siemens (NYSE: SI) and Bechtel dedicated the 758-MW Panda Sherman Power Project in Sherman, Texas, two weeks ahead of schedule.

Cold weather continues to exert pressure on Eastern spot gas, power prices


Unseasonably cold air continues to bring frigid temperatures and snow in many parts of the northern United States, and it also continues to exert pressure on spot energy prices.

GE installs 25,000th wind turbine


GE (NYSE: GE) has successfully installed its 25,000th wind turbine, bringing its wind power capacity to more than 38-GW.

Google buys up Dutch wind energy for data center


Google says it will buy the entire output of an 18-turbine, 62-megawatt Dutch wind energy project in the Netherlands to supply power to a major data center it is building.

Northwestern Energy finalizes acquisition of PPL Montana’s hydroelectric facilities


NorthWestern Energy (NYSE: NWE) has closed on a $900 million purchase of 11 hydroelectric facilities representing 633-MW of capacity and one storage reservoir from PPL Montana (NYSE: PPL).

Solar energy co. SunEdison buying wind power co.


Solar energy company SunEdison is adding some wind-fueled power to its business with a deal worth up to $2.4 billion.

Huge US solar plant lags in early production


The largest solar power plant of its type in the world - once promoted as a turning point in green energy - isn't producing as much energy as planned.

Oregon Clean Energy Center secures project financing


Energy Investors Funds (EIF) and I Squared Capital have formed an equity partnership to construct the 869-MW Oregon Clean Energy Center, a combined-cycle natural-gas fired generation facility to be located in Oregon, Ohio.