Panda Energy International has filed petitions for determination of need from the Florida Public Service Commission for two proposed facilities. The two 1,000 MW plants would be built in Lake and St. Lucie counties. The plants are scheduled for operation in May 2003.
PG&E Corp. recently announced a drop in income for 1999 and plans to sell its unprofitable energy services operations.
Ballard Power Systems plans to use the proceeds from this spring’s $340 million stock offering for commercialization programs and product development for transportation, stationary and portable power and the development of manufacturing processes.
Central Hudson Gas & Electric Corp. is auctioning its Roseton and Danskammer power plants, the last two fossil-fired plants to be sold by IOUs in New York’s restructured market. Winning bidders will be announced in August.
Ontario Power Generation’s proposed divestiture of Bruce A and B facilities, with a combined capacity of 6,200 MW, is nearing reality. The Ontario government is working to put the privatization on a fast track.
Calpine Corp. has announced plans to develop a 700 MW gas-fired facility in Tallapoosa County, Ala. The Hillabee Energy Center will begin operation in 2003, selling steam and a portion of its power to the Solutia Inc. chemical facility and balance of power going to the wholesale market.
Texas Independent Energy, a 50/50 joint venture of Panda Energy International and PSEG Global, has completed financing for a 1,000 MW natural gas-fired 100 percent merchant facility near Odessa, Texas. It is believed to be the largest financing arrangement for a pure merchant facility to date. The $328.6 million plant is expected to be operational next summer.
Flowserve Corp. has acquired Ingersoll-Dresser Pumps from Ingersoll-Rand Co. for $775 million in cash, creating the world’s second largest pump company.
Williams Energy Marketing & Trading Co. has acquired a minority stake in Houston Street Exchange, a web-based energy trading exchange, launched as HoustonStreet.com in July 1999.
Worldwide energy consumption is expected to jump by more than 70 percent in the next 20 years, according to a recent report from the Energy Information Administration. Natural gas is expected to fire the lion’s share of that growth, even as nuclear power’s market share sees a decline.