Fitch Ratings has affirmed the rating on South Texas Electric Cooperative's (STEC, or the cooperative) implied senior secured obligations at 'A-'. The rating is on implied senior secured obligations because none of STEC's currently $974 million of outstanding debt is publicly held.
| SAN DIEGO & NEW YORK, Dec 10, 2013 -- BUSINESS WIRE
EDF Renewable Energy and UBS International Infrastructure Fund announced today that they have signed a definitive agreement under which UBS International Infrastructure Fund will acquire a 50 percent equity interest from EDF Renewable Energy in the 161 megawatt (MW) Spinning Spur II wind farm project, subject to completion of construction and customary conditions precedent.
The future of the Texas electric market will very likely include substantial amounts of renewable energy and gas-fired power, economists with The Brattle Group find in a new report prepared for the Texas Clean Energy Coalition (TCEC).
| Dec 10 - Alan Yonan Jr. The Honolulu Star-Advertiser
Installations of solar photovoltaic systems in Hawaii dropped for the third consecutive quarter, according to a report from the Solar Energy Industry Associated that attributed the decline to new utility guidelines for connecting to the grid and stricter rules for claiming renewable energy tax credits.
FuelCell Energy, Inc. (Nasdaq:FCEL), a global leader in the design, manufacture, operation and service of ultra-clean, efficient and reliable fuel cell power plants, today announced a significant operating milestone with the generation of two billion kilowatt hours (kWh) of ultra-clean and renewable electricity produced by Direct FuelCell (DFC) power plants since the first commercial installation in 2003.
Business & Corporate
| Dec 10 - McClatchy-Tribune Regional News - Justin Dennis The Tribune-Democrat, Johnstown, Pa.
Union contract negotiations between FirstEnergy Corp. and the Utility Workers United of America Local 180 -- of which 142 workers have been locked out of Penelec posts since Nov. 25 -- failed again on Monday after little discussion.
More than 100 town residents who packed Cape Vincent Elementary School on Monday night learned that BP Wind Energy will not sell its Cape Vincent Wind Farm project by the end of the year -- as had been the plan -- leaving the 124-turbine project still in limbo.
Westinghouse Electric Company today announced that Kernkraftwerk Leibstadt AG has decided to extend its fuel contract with Westinghouse for manufacturing and delivery of reload fuel to the nuclear power plant in Leibstadt, Switzerland.
The governors of eight Northeast and Mid-Atlantic states have petitioned the U.S. Environmental Protection Agency for stronger air pollution limits on nine Midwest states, but Maine Gov. Paul LePage is not among them.
Fitch Ratings has affirmed CE Generation, LLC's (CE Gen) $400 million senior notes ($159 million outstanding) due in 2018 at 'BB-'. The Rating Outlook remains Negative due to CE Gen's reliance on nonobligatory sponsor equity support in lieu of drawing on the debt service reserve.