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Researched by Industrial Info Resources (Sugar Land, Texas)--Like other power utilities, Entergy Corporation (NYSE:ETR) (New Orleans, Louisiana) appears to have weathered the COVID-19 storm reasonably well so far. In Monday's earnings conference call with analysts, Chief Executive Officer Leo Denault said that the company's major projects remain on track and that its capital plan was unchanged.
Denault said, "In 2007, we developed our pandemic response plan specifically to address events like the one we are facing today. For COVID-19, we mobilized our teams on January 16--very early on. Our focus has been on four primary objectives: ensuring the safety and wellness of our employees; maintaining safe, reliable service for our customers; mitigating financial impacts; and ensuring our ability to continue to plant for the future."
As Entergy wraps up major projects, it is forging ahead with others. Among its accomplishments in the first quarter was the earlier-than-planned startup of a 994-megawatt brownfield, natural gas-fired energy center near Lake Charles, Louisiana. Construction kicked off in late 2017 and wrapped up in March, with McDermott International Incorporated (NYSE:MDR) (Houston, Texas) providing engineering, procurement and construction (EPC) services. Denault said, "This new resource is another milestone in our portfolio-transformation strategy to replace older generation with cleaner, more efficient assets, and it will provide important benefits to our customers." For more information, see Industrial Info's project report.
Denault said the company's other major projects remained on track and that Entergy was not experiencing any major equipment or staffing issues.
Other major projects underway include the Washington Parish Energy Center in Louisiana, which entails replacing older equipment with new natural gas-fired turbine generators to generate 360 MW. Zachry Group (San Antonio, Texas) is providing EPC. For more information, see Industrial Info's project report.
In Willis, Texas, Entergy is underway with construction on the 993-MW combined-cycle Lewis Creek Power Station. Construction kicked off in late 2018, and the project is expected to take about three years. McDermott is providing EPC services. For more information, see Industrial Info's project report.
In addition to natural gas, Entergy also is branching into renewable energy generation and was recently approved to construct solar facilities in Mississippi and Arkansas, each with a capacity of 100 MW. The Sunflower project in Mississippi will be built on a 1,000-acre site and will use approximately 350,000 solar panels. It will be the largest utility-owned solar facility in the state. Construction is planned to kick off later this year, and the facility is expected to be in service in 2021. For more information, see Industrial Info's project report.
In late April, the Arkansas Public Service Commission approved the Searcy solar facility, which also will provide 100 MW. The facility will include battery storage and is expected to be in service in 2021. For more information, see Industrial Info's project reports on the solar facility and battery energy storage system.
Denault said Entergy plans to meet more supply needs with renewables as technology and economics continue to improve.
Entergy also is in the very early stages of some large-scale projects. The company has issued request for proposals (RFPs) for 1,000 to 1,200 of combined-cycle power in Texas to be in service by mid-2025 to mid-2026. In Louisiana, Entergy is seeking 250 MW of new solar resources with targeted in-service dates no later than the end of 2023.
In a previous earnings conference call, Entergy executives said the company's capital program through 2022 totaled nearly $12 billion. The company reported first-quarter 2020 net earnings of $119 million, compared with $255 million in the prior-year quarter.
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. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Denault said, "In 2007, we developed our pandemic response plan specifically to address events like the one we are facing today. For COVID-19, we mobilized our teams on January 16--very early on. Our focus has been on four primary objectives: ensuring the safety and wellness of our employees; maintaining safe, reliable service for our customers; mitigating financial impacts; and ensuring our ability to continue to plant for the future."
As Entergy wraps up major projects, it is forging ahead with others. Among its accomplishments in the first quarter was the earlier-than-planned startup of a 994-megawatt brownfield, natural gas-fired energy center near Lake Charles, Louisiana. Construction kicked off in late 2017 and wrapped up in March, with McDermott International Incorporated (NYSE:MDR) (Houston, Texas) providing engineering, procurement and construction (EPC) services. Denault said, "This new resource is another milestone in our portfolio-transformation strategy to replace older generation with cleaner, more efficient assets, and it will provide important benefits to our customers." For more information, see Industrial Info's project report.
Denault said the company's other major projects remained on track and that Entergy was not experiencing any major equipment or staffing issues.
Other major projects underway include the Washington Parish Energy Center in Louisiana, which entails replacing older equipment with new natural gas-fired turbine generators to generate 360 MW. Zachry Group (San Antonio, Texas) is providing EPC. For more information, see Industrial Info's project report.
In Willis, Texas, Entergy is underway with construction on the 993-MW combined-cycle Lewis Creek Power Station. Construction kicked off in late 2018, and the project is expected to take about three years. McDermott is providing EPC services. For more information, see Industrial Info's project report.
In addition to natural gas, Entergy also is branching into renewable energy generation and was recently approved to construct solar facilities in Mississippi and Arkansas, each with a capacity of 100 MW. The Sunflower project in Mississippi will be built on a 1,000-acre site and will use approximately 350,000 solar panels. It will be the largest utility-owned solar facility in the state. Construction is planned to kick off later this year, and the facility is expected to be in service in 2021. For more information, see Industrial Info's project report.
In late April, the Arkansas Public Service Commission approved the Searcy solar facility, which also will provide 100 MW. The facility will include battery storage and is expected to be in service in 2021. For more information, see Industrial Info's project reports on the solar facility and battery energy storage system.
Denault said Entergy plans to meet more supply needs with renewables as technology and economics continue to improve.
Entergy also is in the very early stages of some large-scale projects. The company has issued request for proposals (RFPs) for 1,000 to 1,200 of combined-cycle power in Texas to be in service by mid-2025 to mid-2026. In Louisiana, Entergy is seeking 250 MW of new solar resources with targeted in-service dates no later than the end of 2023.
In a previous earnings conference call, Entergy executives said the company's capital program through 2022 totaled nearly $12 billion. The company reported first-quarter 2020 net earnings of $119 million, compared with $255 million in the prior-year quarter.
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. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
