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Released September 11, 2023 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Spanish energy company Repsol (Madrid) is making moves into the U.S. market with last week's announcement of the company's planned purchase of ConnectGen LLC (Houston, Texas), a U.S. renewable energy developer currently part of private equity firm Quantum Capital (Houston). The move represents a further shakeup to Repsol's North American portfolio as also last week the company announced the sale of its Canadian oil and gas assets to Peyto Exploration and Development Corporation (Calgary, Alberta).
Repsol will purchase ConnectGen for $768 million in a deal that is expected to close by the end of the year. ConnectGen is a fairly active company in regard to project activity, with more than $3.5 billion worth of U.S. projects being tracked by Industrial Info. ConnectGen's projects are for both wind and solar power, with solar taking the lead in regard to project count, often accompanied by planned battery energy storge systems (BESS). While ConnectGen has projects throughout the U.S., the Northeast market region, which includes Connecticut, New Jersey, New York and Pennsylvania, accounts for the highest amount of the company's planned spending, with nine projects accounting for more than $1.7 billion worth of investment.
One of ConnectGen's most significant projects in the U.S. Northeast is the Harvest Hills solar farm in Cayuga County, New York, construction of which could begin this year. The project's initial phase would add 200 megawatts (MW) of generation capacity and could begin operations in the first half of next year if the project moves according to schedule. Around the time of the completion of the first phase, another phase of construction could begin, adding another 100 MW when complete. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can learn more by viewing the project reports on Phase I and Phase II.
Another of ConnectGen's planned solar farms in New York would follow a similar path of construction. The Mill Point solar farm is planned for Montgomery County. An initial phase of construction, which could kick off early next year, would add 250 MW of generation. Subsequent construction would add a further 100 MW, which could go into operation as soon as early 2025. Subscribers can learn more by viewing the reports on the initial construction and the 100-MW addition.
ConnectGen also has a few active wind projects, all of which are in the planning stage. Among the largest of these is the Rail Tie Windfarm in Albany County, Wyoming. Initial plans call for 150 turbines, each rated at 3.3 MW, to be installed across a 13,000-acre site, providing nameplate generation of about 500 MW. Construction on the windfarm could begin in about a year's time, which would put the project on track for a 2026 completion.
A planned ConnectGen windfarm in northern California would use even larger turbines, although provide less power. The Fountain Windfarm in Shasta County, about 150 miles north of Sacramento, would use 48 Vestas turbines, each rated at 4.5 MW, to provide overall generation of 216 MW. Engineering and construction contractor M.A. Mortenson Company (Minneapolis, Minnesota) could kick off construction early next summer, and once started, the project is expected to last a little more than a year. Subscribers can learn more by viewing the project reports on the Rail Tie and Fountain projects.
How Repsol's acquisition of ConnectGen will affect the planned projects remains to be seen, but as Repsol has set the goal of having 20 gigawatts of renewable energy capacity by the end of this decade, it doesn't seem as if the company would want to hinder any of ConnectGen's future plans.
Repsol's move into U.S. renewable energy came only a day after the announcement it would sell its Canadian oil and gas assets to Peyto for US$468 million. Industrial Info is tracking four facilities in Canada in which Repsol holds stakes, including the company's Bigstone natural gas processing plant in Alberta, which recently completed a maintenance turnaround and is on track for another in about three years' time. Subscribers to Industrial Info's Production Project Database can click here for the project report.
While Industrial Info is tracking no capital Repsol projects in Canada, Peyto may have no need for additional project activity, with US$860 million worth of active projects planned for Canada. Underway now is an expansion and drilling program for a natural gas field near Grande Cache, Alberta. Peyto is in the process of drilling 34 new wells and has tied in remaining 2022 wells to increase feed to a nearby natural gas processing plant. After this year's drilling program is complete, Peyto plans to drill another 30 to 35 wells in the field in 2024. Subscribers can learn more by viewing the project reports for the 2023 and 2024 drilling programs. The acquisition of Repsol's Alberta gas-processing plants could provide Peyto with a means of processing the increased natural gas production from this and other fields.
Subscribers to Industrial Info's GMI Database can click here to view reports for all of the projects discussed in this article and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
Repsol will purchase ConnectGen for $768 million in a deal that is expected to close by the end of the year. ConnectGen is a fairly active company in regard to project activity, with more than $3.5 billion worth of U.S. projects being tracked by Industrial Info. ConnectGen's projects are for both wind and solar power, with solar taking the lead in regard to project count, often accompanied by planned battery energy storge systems (BESS). While ConnectGen has projects throughout the U.S., the Northeast market region, which includes Connecticut, New Jersey, New York and Pennsylvania, accounts for the highest amount of the company's planned spending, with nine projects accounting for more than $1.7 billion worth of investment.
One of ConnectGen's most significant projects in the U.S. Northeast is the Harvest Hills solar farm in Cayuga County, New York, construction of which could begin this year. The project's initial phase would add 200 megawatts (MW) of generation capacity and could begin operations in the first half of next year if the project moves according to schedule. Around the time of the completion of the first phase, another phase of construction could begin, adding another 100 MW when complete. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can learn more by viewing the project reports on Phase I and Phase II.
Another of ConnectGen's planned solar farms in New York would follow a similar path of construction. The Mill Point solar farm is planned for Montgomery County. An initial phase of construction, which could kick off early next year, would add 250 MW of generation. Subsequent construction would add a further 100 MW, which could go into operation as soon as early 2025. Subscribers can learn more by viewing the reports on the initial construction and the 100-MW addition.
ConnectGen also has a few active wind projects, all of which are in the planning stage. Among the largest of these is the Rail Tie Windfarm in Albany County, Wyoming. Initial plans call for 150 turbines, each rated at 3.3 MW, to be installed across a 13,000-acre site, providing nameplate generation of about 500 MW. Construction on the windfarm could begin in about a year's time, which would put the project on track for a 2026 completion.
A planned ConnectGen windfarm in northern California would use even larger turbines, although provide less power. The Fountain Windfarm in Shasta County, about 150 miles north of Sacramento, would use 48 Vestas turbines, each rated at 4.5 MW, to provide overall generation of 216 MW. Engineering and construction contractor M.A. Mortenson Company (Minneapolis, Minnesota) could kick off construction early next summer, and once started, the project is expected to last a little more than a year. Subscribers can learn more by viewing the project reports on the Rail Tie and Fountain projects.
How Repsol's acquisition of ConnectGen will affect the planned projects remains to be seen, but as Repsol has set the goal of having 20 gigawatts of renewable energy capacity by the end of this decade, it doesn't seem as if the company would want to hinder any of ConnectGen's future plans.
Repsol's move into U.S. renewable energy came only a day after the announcement it would sell its Canadian oil and gas assets to Peyto for US$468 million. Industrial Info is tracking four facilities in Canada in which Repsol holds stakes, including the company's Bigstone natural gas processing plant in Alberta, which recently completed a maintenance turnaround and is on track for another in about three years' time. Subscribers to Industrial Info's Production Project Database can click here for the project report.
While Industrial Info is tracking no capital Repsol projects in Canada, Peyto may have no need for additional project activity, with US$860 million worth of active projects planned for Canada. Underway now is an expansion and drilling program for a natural gas field near Grande Cache, Alberta. Peyto is in the process of drilling 34 new wells and has tied in remaining 2022 wells to increase feed to a nearby natural gas processing plant. After this year's drilling program is complete, Peyto plans to drill another 30 to 35 wells in the field in 2024. Subscribers can learn more by viewing the project reports for the 2023 and 2024 drilling programs. The acquisition of Repsol's Alberta gas-processing plants could provide Peyto with a means of processing the increased natural gas production from this and other fields.
Subscribers to Industrial Info's GMI Database can click here to view reports for all of the projects discussed in this article and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
