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Avangrid and Puget Sound Energy Sign PPA, Including Upgrade and Life Extension, for Washington Wind Project

LCG, May 19, 2026--Avangrid, Inc., a member of the Iberdrola Group, today announced the signing of a long-term Power Purchase Agreement (PPA) with Puget Sound Energy (PSE) for the 199.5-MW Big Horn I wind project in Klickitat County, Washington. This agreement represents the fourth PPA executed by the two companies for projects in the Pacific Northwest.

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DOE Acts to Ensure Key Coal-fired Power Plants Are Available in MISO to Supply Peak Summer Demands

LCG, May 18, 2026--The U.S. Secretary of Energy today issued an emergency order to address critical grid reliability issues in the Midwest anticipated this summer. The order is in effect beginning on May 19, 2026, through August 16, 2026. The emergency order directs the Midcontinent Independent System Operator (MISO), in coordination with Consumers Energy, to ensure that the J.H. Campbell coal-fired power plant (Campbell Plant) in West Olive, Michigan shall take all steps necessary to remain available to operate and to minimize costs for the region.

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Industry News

Lenders May Vote Today on Fate of Enron India Plant

LCG, May 17, 2001Lenders to the Dabhol Power Project owned by Enron Corp. in India will decide today whether to cancel the project's contract to sell power to the Maharashtra State Electricity Board, Indian newspapers said this morning.

Discussions yesterday, involving only one Indian lender, the State Bank of India, and foreign lenders, deferred a decision until today when India's Industrial Development Bank, the Industrial Finance Corp. of India, Canara Bank and ICICI Bank Ltd. will participate.

Indian financial reporters expect the lenders to authorize Dabhol Power Co. to issue a notice to terminate the contract with the MSEB, but the Indian lenders are expected to oppose the proposal. Unlike the foreign financial institutions, they do not have their loans backed by the Indian government's sovereign guarantee.

Dabhol Power is India's single largest foreign investment. The 740 megawatt first phase of the plant went into production last year and Enron, the MSEB, the state of Maharashtra and the Indian government have been feuding ever since as Enron's Indian customers have proved to be reluctant to pay their electric bills.

Next month, with the completion of the second phase of the project, Dabhol's capacity will more than triple to 2,184 megawatts, and now the MSEB says it doesn't need the power, even though it agreed in 1995 to purchase all the output of the huge plant.

With their federal guarantees, foreign investors could walk away from Dabhol more or less whole, but Indian lenders have an exposure of about $1.4 billion.

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