Japan-based Mitsui & Co., Ltd (MITSY.PK), one of the largest global “sogo shoshas (general trading companies)” in the world, has bought a $12-million stake in Tres Amigas, a continental grid interconnection which eventually aims to tie together the nation’s three major electricity networks, the Western Interconnection, the Eastern Interconnection, and the Texas Interconnection. It will do this while simultaneously integrating a wide array of renewable energy sources like solar and wind.
Texas retains its huge lead as the largest generator of electricity in the U.S., including the largest total amount of renewable energy generation and the largest year-over-year additions of renewable energy, according to EnergyBoom’s analysis of the latest U.S. Energy Information Agency data for January and February 2011 released May 13. Renewable energy in this data is defined as wind, solar, wood-derived fuels and biomass, and geothermal.
Allentown, Pennsylvania-based power utility PPL Corporation (NYSE: PPL) said Tuesday it has completed the permanent financing related to its $6.6 billion acquisition of the former Central Networks electricity distribution companies in the United Kingdom. The acquired companies are operated by PPL's Western Power Distribution under the names WPD East Midlands and WPD West Midlands.
Shares of Allentown, Pennsylvania-based power utility PPL Corporation (NYSE: PPL) are up 4.5% this week after the company announced Monday that it will issue common shares worth about $2.1 billion and equity units worth about $750 million to help finance the acquisition of an energy company in the U.K. The shares and units are expected to be issued April 15.
Recent headlines suggest that TVA (NYSE: TVC, the Tennessee Valley Authority) is launching a renewable energy program, Generation Partners, which invites project developers to participate.
Last month, teams of college students raced their solar-powered cars though four states in the Midwest. Students from all over the world designed, built and drove solar-powered cars in the competition.
The 2010 American Solar Challenge (ASC2010) is officially underway!