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FirstEnergy to Sell a Total of 1,572 MW of Competitive Natural Gas and Hydro Assets

LCG, January 20, 2017--FirstEnergy Corp. yesterday announced it has entered into an agreement to sell four competitive natural gas generating plants in Pennsylvania and its competitive portion of a Virginia hydroelectric power station to a subsidiary of LS Power Equity Partners III, LP, of New York for approximately $925 million in an all cash transaction. The combined capacity of the electric generating facilities sold totals 1,572 MW, including 713 MW of pumped-storage hydro capacity in the Bath County Pumped Storage Project.

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NRC Accepts TVA?s Early Site Permit Application At Clinch River Site for Small Modular Reactor

LCG, January 13, 2017--The Nuclear Regulatory Commission (NRC) yesterday announce that it has accepted for review the Early Site Permit (ESP) application for the Clinch River site near Oak Ridge, Tennessee. The Tennessee Valley Authority (TVA) submitted the application and associated information in May 2016.

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Industry News

DOE Offers Loan Guarantee to Solyndra Inc for New PV Manufacturing Plant

LCG, March 23, 2009--The U.S. Department of Energy (DOE) announced Friday that it will provide a $535 million loan guarantee to Solyndra Inc, to build a commercial scale facility to manufacture solar photovoltaic (PV) panels that employ a novel, cylindrical design for installation on flat roofs.

The loan guarantee is designed to address nearly three quarters of the project costs. The targeted output of PV panels for the new manufacturing plant is 500 MW per year. Construction is scheduled to start at the end of 2009, with panel production commencing in late 2010 or early 2011, assuming the loan and related conditions are accepted.

DOE Secretary Steven Chu stated,"This investment is part of President Obama's aggressive strategy to put Americans back to work and reduce our dependence on foreign oil by developing clean, renewable sources of energy."

Solyndra's panels use thin-film technology and cylindrical modules that are designed to receive sunlight across a 360-degree surface and convert direct, diffuse and reflected sunlight into power.
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