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Released September 27, 2021 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--PPL Corporation (NYSE:PPL) (Allentown, Pennsylvania) took a big step toward growing its presence in the renewable-energy sector last week, when the U.S. Federal Energy Regulatory Commission (FERC) unanimously approved its acquisition of The Narragansett Electric Company from National Grid USA, the U.S. subsidiary of National Grid plc (NYSE:NGG) (London, England). Earlier this year, PPL agreed to sell its U.K.-based utility Western Power Distribution (WPD) to National Grid. Industrial Info is tracking nearly $9 billion worth of active U.S.-based projects from PPL and National Grid.
The FERC decision marks the fourth of five regulatory approvals required for PPL's acquisition of Narragansett to proceed. PPL says it remains focused on securing the final approval from the Rhode Island Division of Public Utilities and Carriers. PPL and National Grid expect the entire transaction will be completed by March.
"We look forward to partnering with Narragansett Electric's talented team to deliver energy safely, reliably and affordably to Rhode Island customers," said Vincent Sorgi, the chief executive officer for PPL, in a press release. "We're excited about the opportunity this acquisition presents for PPL to build one of the nation's most advanced grids, one that enables clean energy and supports the state's ambitious decarbonization goals."
While the Narragansett acquisition would represent change for the traditionally fossil fuel-based PPL, it would not be an enormous sacrifice for National Grid, whose renewable-energy arm, National Grid Renewables, is involved in more than 40 active solar, battery storage and wind projects across the U.S., according to Industrial Info's Global Market Intelligence (GMI) Power Project Database.
Click on the image at right for a heat map detailing National Grid's active projects across the U.S., from Industrial Info's Geolocator tool.
Among National Grid's largest U.S.-based projects is its $450 million Noble Solar Plant in Denton, Texas, a city on the northern edge of the Dallas-Fort Worth area. It is expected to generate about 275 megawatts (MW) from more than 780,000 photovoltaic (PV) modules. Site preparation for the solar plant began in May, and it eventually is to be accompanied by a 127-MW, $130 million battery energy-storage system (BESS) utilizing lithium-ion technology. The full project is slated to wrap up in the fourth quarter of 2022. Subscribers to the GMI Database can read more from Industrial Info's project reports on the solar plant and BESS.
Another project from National Grid Renewables can be found in Kentucky, a state where PPL is overhauling some of its longest-standing coal-fired facilities. National Grid expects to begin construction next year on its $212 million Unbridled Solar Plant in Henderson, Kentucky, which would generate 160 MW from more than 400,000 PV modules. Subscribers can learn more from Industrial Info's project report.
Like many power-generation companies rooted in the coal-fired market, PPL has been working to change its DNA to better meet clean-energy demands from the public and civic leaders. Louisville Gas and Electric Company (Louisville, Kentucky) and Kentucky Utilities Company (Lexington, Kentucky), two PPL subsidiaries, earlier this year issued requests for proposal (RFP) for generation to replace three coal-fired units that the utilities plan to retire by 2028.
PPL's Kentucky subsidiaries also are at work on a $183 million ash pond closure and a $150 million bottom-ash pond closure at the Trimble County Power Station in Bedford, Kentucky. Coal ash, a byproduct of coal-fired power generation that also is called coal combustion residual (CCR), normally was stored on sites in "ponds," until the U.S. Environmental Protection Agency (EPA) demanded an end to the practice nationwide. Both projects have been underway for years and are slated to wrap up toward the end of 2023, although numerous factors could push back the completion dates. Subscribers can learn more from Industrial Info's reports on the ash pond and bottom-ash pond closures.
For more information on coal-fired power companies coming to grips with the ongoing decline of their resource, see February 9, 2021, article - U.S. Coal-Fired Power Plant Retirements Could Reach 55,000 Megawatts in Coming Decade.
PPL announced earlier this year that its sale of Western Power Distribution to National Grid plc "will transform PPL into a high-growth, purely U.S.-focused energy company with a strong balance sheet." Western Power Distribution comprises four distribution network operators, serving 7.9 million customers in central and southwest England and south Wales.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
The FERC decision marks the fourth of five regulatory approvals required for PPL's acquisition of Narragansett to proceed. PPL says it remains focused on securing the final approval from the Rhode Island Division of Public Utilities and Carriers. PPL and National Grid expect the entire transaction will be completed by March.
"We look forward to partnering with Narragansett Electric's talented team to deliver energy safely, reliably and affordably to Rhode Island customers," said Vincent Sorgi, the chief executive officer for PPL, in a press release. "We're excited about the opportunity this acquisition presents for PPL to build one of the nation's most advanced grids, one that enables clean energy and supports the state's ambitious decarbonization goals."
While the Narragansett acquisition would represent change for the traditionally fossil fuel-based PPL, it would not be an enormous sacrifice for National Grid, whose renewable-energy arm, National Grid Renewables, is involved in more than 40 active solar, battery storage and wind projects across the U.S., according to Industrial Info's Global Market Intelligence (GMI) Power Project Database.
Click on the image at right for a heat map detailing National Grid's active projects across the U.S., from Industrial Info's Geolocator tool.Among National Grid's largest U.S.-based projects is its $450 million Noble Solar Plant in Denton, Texas, a city on the northern edge of the Dallas-Fort Worth area. It is expected to generate about 275 megawatts (MW) from more than 780,000 photovoltaic (PV) modules. Site preparation for the solar plant began in May, and it eventually is to be accompanied by a 127-MW, $130 million battery energy-storage system (BESS) utilizing lithium-ion technology. The full project is slated to wrap up in the fourth quarter of 2022. Subscribers to the GMI Database can read more from Industrial Info's project reports on the solar plant and BESS.
Another project from National Grid Renewables can be found in Kentucky, a state where PPL is overhauling some of its longest-standing coal-fired facilities. National Grid expects to begin construction next year on its $212 million Unbridled Solar Plant in Henderson, Kentucky, which would generate 160 MW from more than 400,000 PV modules. Subscribers can learn more from Industrial Info's project report.
Like many power-generation companies rooted in the coal-fired market, PPL has been working to change its DNA to better meet clean-energy demands from the public and civic leaders. Louisville Gas and Electric Company (Louisville, Kentucky) and Kentucky Utilities Company (Lexington, Kentucky), two PPL subsidiaries, earlier this year issued requests for proposal (RFP) for generation to replace three coal-fired units that the utilities plan to retire by 2028.
PPL's Kentucky subsidiaries also are at work on a $183 million ash pond closure and a $150 million bottom-ash pond closure at the Trimble County Power Station in Bedford, Kentucky. Coal ash, a byproduct of coal-fired power generation that also is called coal combustion residual (CCR), normally was stored on sites in "ponds," until the U.S. Environmental Protection Agency (EPA) demanded an end to the practice nationwide. Both projects have been underway for years and are slated to wrap up toward the end of 2023, although numerous factors could push back the completion dates. Subscribers can learn more from Industrial Info's reports on the ash pond and bottom-ash pond closures.
For more information on coal-fired power companies coming to grips with the ongoing decline of their resource, see February 9, 2021, article - U.S. Coal-Fired Power Plant Retirements Could Reach 55,000 Megawatts in Coming Decade.
PPL announced earlier this year that its sale of Western Power Distribution to National Grid plc "will transform PPL into a high-growth, purely U.S.-focused energy company with a strong balance sheet." Western Power Distribution comprises four distribution network operators, serving 7.9 million customers in central and southwest England and south Wales.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
