EnergyOnline
Services

RSS FEED

EnergyOnline.com rss

News

Invenergy Announces New Agreements with Meta for Renewable Energy to Support Data Center Operations

LCG, June 26, 2025--Invenergy today announced that they and Meta Platforms, Inc. have signed four new clean energy agreements that total an additional 791 MW of procured solar and wind capacity to support Meta's near-term operations, data center growth, and clean energy goals.

Read more

New York Power Authority to Develop New Nuclear Facility in Upstate New York

LCG, June 23, 2025--The Governor of New York today directed the New York Power Authority (NYPA) to develop and construct an advanced nuclear power plant in upstate New York to deliver zero-emission power that supports a reliable and affordable electric grid. NYPA will lead the effort to develop at least one new nuclear energy facility with a combined capacity of at least one gigawatt (GW) of electricity, either alone or in partnership with private entities. The directive builds on the Governor’s 2025 State of the State to develop nuclear energy plans in New York.

Read more

Industry News

AES Sale of Colombia Assets to Fenosa Back On

LCG, Oct. 20, 2000--An agreed-upon deal between AES Corp. of the U.S. and Spain's Unin Fenosa for the Spanish company to purchase three Colombian electric companies from Venezuelan utility Grupo EDC following the acquisition of EDC by AES is apparently back on, after seeming to fall apart last month.

Yesterday, Grupo EDC said it had reached a "definitive agreement" with Fenosa for the sale of the Colombian utilities, Epsa, Electrocosta and Electricaribe, but did not disclose financial details. Under the earlier arrangement Fenosa would have paid $235 million for the companies.

EDC is anxious to get rid of its troubled Colombian assets because they are responsible for its inability to turn a profit. The company's Electricidad de Caracas unit which provides electric service to the Venezuelan capital posted a $9.1 million profit for the first half of 2000, but its Corporacin EDC subsidiary, which contains the Colombian firms and some non-energy assets, showed a loss of $14.3 million.

Whatever Fenosa pays for the three Colombian firms, EDC will book a large loss on their sale, as it paid $280 million for Epsa which serves the city of Cali and $275 million for the other two. Nevertheless, Richard Bulger, president of Grupo EDC said "We think this (sale) makes sense for the group and is consistent with our goal to focus more on our core operations in Venezuela."

Since acquiring an 87 percent interest EDC for $1.66 billion in a hostile takeover last June, AES has cut the Caracas utility's workforce by about 50 percent. A one-time charge to be taken in the second half of 2000 for the layoffs will further reduce EDC's earnings for the year, Bulger said.

Copyright © 2025 LCG Consulting. All rights reserved. Terms and Copyright
UPLAN-NPM
The Locational Marginal Price Model (LMP) Network Power Model
Uniform Storage Model
A Battery Simulation Model
UPLAN-ACE
Day Ahead and Real Time Market Simulation
UPLAN-G
The Gas Procurement and Competitive Analysis System
PLATO
Database of Plants, Loads, Assets, Transmission...
CAISO CRR Auctions
Monthly Price and Congestion Forecasting Service