Archive: Finance

[UPDATED] Dynegy Rethinks Illinois Ventures Amid Market Turmoil

As Dynegy moved this week to assume full ownership of two struggling Ohio coal plants it co-owns with AES Corp. subsidiary DPL Inc., the company’s CEO reportedly said it is mulling withdrawing its presence from downstate Illinois owing to the state’s intervention to keep its nuclear plants running. Dynegy CEO Robert Flexon told Crain’s Chicago Business […]

Coal Industry Cautious About Future Growth, Trump Rhetoric

While investor interest in U.S. coal production is seeing a revival, President Donald Trump can do little to directly help the flailing industry, coal producers and investors said at CERAweek by IHS Market, which is taking place in Houston this week. After a period of financial calamity that was prompted by the collapse of natural […]

New and Improved Insurance Offerings Provide Power Plants with More Options

Risk is inherent in all businesses, but power plants face unique perils that require the right protection. Property and casualty insurance may not be enough; equipment breakdown, business interruption, weather risk transfer, and cyber coverage are just a few examples of insurance that may also be worth considering. The right coverage could mean the difference […]

Westinghouse’s Losses from Nuclear Business Deal Mount

Toshiba Corp.—the parent of Westinghouse Electric Co.—said it might book huge losses as a result of Westinghouse’s acquisition of the nuclear construction and integrated services business CB&I Stone & Webster Inc. (S&W). Westinghouse closed on its agreement with CB&I in December 2015. When the deal was made, Toshiba estimated that the amount of “goodwill” resulting […]

Sasan’s Shadow: An Ultra Mega Power Project’s Dark Side

For all its record-breaking achievements for speed, innovation, and efficiency, the 3,960-MW Sasan Ultra Mega Power Project should have been a POWER Top Plant. But the unique project has been plagued by serious setbacks—including loss of life—that show how perilous the plant construction journey can be. A decade ago, India was suffering a power crisis […]

New Mexico Clears Hurdle to Provide Power to Facebook Facility

A unanimous vote by New Mexico’s Public Regulation Commission (PRC) today determined that Public Service Co. of New Mexico (PNM) will be allowed to provide new renewable capacity to a proposed Facebook facility through a special service agreement.

New Best Practices for Power Project Planning and Construction

Effectively managing time, budget, and resources has always been the goal of companies involved in constructing power generation projects, but today the challenges in meeting those goals can be greater than ever. Any power generation company involved in new construction or an upgrade or retrofit project hopes it will see completion safely, without exceeding schedule […]

Amid Scrutiny, Kemper IGCC Project Marks Big Syngas Production Milestone

Southern Co.’s Kemper County energy facility—the only carbon capture and storage (CCS) integrated gasification combined cycle (IGCC) power plant that is under construction—is producing syngas using lignite. The plant marked its most significant milestone to date on July 14, said Southern Co.’s Mississippi Power. It means that the first-of-its-kind technology to convert locally mined lignite […]

B&W to Restructure Power Business, Cites Dismal Coal Projections

Projections that coal utilization will decline faster than previously forecast have spurred Babcock & Wilcox Enterprises (B&W) to shed 200 jobs and restructure its traditional power business that serves coal-fired power generation in a bid to reduce overhead and improve efficiency. The Charlotte, N.C.–based energy and environmental technology and service company said on June 28 […]