Southwest Power Pool

Ørsted completes 200 MW wind farm in Kansas

Retrieved on: 
Friday, September 29, 2023

Ørsted has started operations at Sunflower Wind, an onshore wind farm located in Marion County, Kansas, the US.

Key Points: 
  • Ørsted has started operations at Sunflower Wind, an onshore wind farm located in Marion County, Kansas, the US.
  • Sunflower Wind will be Ørsted’s 13th operational wind farm in the United States, with a capacity to power more than 70,000 homes.
  • In addition to providing affordable, renewable energy, Sunflower Wind will provide economic benefits to its host community and state economies.
  • In addition, Ørsted is partnering with the Kansas Chapter of The Nature Conservancy (TNC) to restore additional land under conservation easements.

Ørsted Completes 200 MW Wind Farm in Kansas

Retrieved on: 
Thursday, September 28, 2023

MARION COUNTY, Kan., Sept. 28, 2023 /PRNewswire/ -- Ørsted, a leading U.S. renewable energy company, today announced the start of operations for Sunflower Wind, a wind farm located in Marion County, Kansas.  To celebrate this achievement in clean energy development, as well the economic benefits it stands to bring to the local community and the greater state of Kansas, Ørsted hosted a gathering attended by partners, landowners, community members, and local and state elected officials.  

Key Points: 
  • MARION COUNTY, Kan., Sept. 28, 2023 /PRNewswire/ -- Ørsted, a leading U.S. renewable energy company, today announced the start of operations for Sunflower Wind, a wind farm located in Marion County, Kansas.
  • "With Sunflower Wind, we now have 13 operational wind farms in the U.S., generating 832 MW in the Southwest Power Pool."
  • Ørsted pioneered a landmark supply chain decarbonization effort to deliver renewable energy access and bundled renewable energy credits from Sunflower Wind to nine companies.
  • In addition, Ørsted is partnering with The Kansas Chapter of The Nature Conservancy (TNC) to restore additional land under conservation easements.

New Report Finds Coal Essential to Grid Reliability and Resilience During Winter Storm Elliott

Retrieved on: 
Thursday, February 23, 2023

Coal, natural gas, and fuel oil provided 94 percent of the additional electricity that was needed when demand peaked because of Elliott.

Key Points: 
  • Coal, natural gas, and fuel oil provided 94 percent of the additional electricity that was needed when demand peaked because of Elliott.
  • "Storm Elliott proved again that coal power plants are essential to ensuring a reliable supply of electricity.
  • Importantly, coal plants have on-site fuel storage, which makes them more dependable than natural gas plants, wind farms, or solar panels.
  • Unfortunately, the retirement of coal plants is undermining grid reliability and, therefore, must stop.

ALLETE, Inc. Reports 2022 Earnings of $3.38 Per Share; Initiates 2023 Earnings Guidance Range of $3.55 to $3.85 Per Share

Retrieved on: 
Thursday, February 16, 2023

Reported results from 2021 were $3.23 per share on net income of $169.2 million and operating revenue of $1.4 billion.

Key Points: 
  • Reported results from 2021 were $3.23 per share on net income of $169.2 million and operating revenue of $1.4 billion.
  • Higher earnings in 2022 reflect the implementation of interim rates on January 1, 2022, net of interim rate reserves.
  • Details of the Company’s 2023 earnings guidance were filed as part of today’s Form 8-K filing.
  • Live Webcast on February 16, 2023; financial slides posted on company website
    ALLETE’s earnings conference call will be at 10:00 a.m. (EST), February 16, 2023, at which time management will discuss 2022 financial results and 2023 earnings guidance.

ALLETE, Grid United join forces to develop key transmission link to enhance reliability of the nation’s electric grid

Retrieved on: 
Monday, January 30, 2023

ALLETE, Inc. (NYSE:ALE) and Grid United today announced their intent to jointly develop the North Plains Connector, a new, approximately 385-mile high-voltage direct-current (HVDC) transmission line from central North Dakota to Colstrip, Montana.

Key Points: 
  • ALLETE, Inc. (NYSE:ALE) and Grid United today announced their intent to jointly develop the North Plains Connector, a new, approximately 385-mile high-voltage direct-current (HVDC) transmission line from central North Dakota to Colstrip, Montana.
  • “Additional investment in transmission is critically important to achieve a clean-energy future and is a key part of our ‘Sustainability-in-Action’ growth strategy as our national footprint expands,” said ALLETE Chair, President and CEO Bethany Owen.
  • The project represents an approximately $2.5 billion investment in Montana and North Dakota and will be a long-term asset for those states.
  • Grid United is an independent transmission company aiming to modernize the United States’ power grid to create a more resilient and efficient electric system that uses the nation’s abundant and geographically diverse natural resources to the benefit of all consumers.

Sol Systems Adds Development Chief to Scale Utility-Scale Solar Business

Retrieved on: 
Tuesday, November 8, 2022

His focus on building great teams is exactly what we need as we continue to scale our development business in partnership with our customers.

Key Points: 
  • His focus on building great teams is exactly what we need as we continue to scale our development business in partnership with our customers.
  • I am thrilled to join Sol Systems to build its utility-scale development business with a methodical and disciplined approach," Nagle explained.
  • Sol Systems is a leading national solar energy firm with an established reputation for integrity and reliability across its development, infrastructure, and environmental commodity businesses.
  • Sol Systems works with institutional clients, corporate partners, and foundations to create a more sustainable future we can all believe in.

ALLETE, Inc. Reports Third Quarter Earnings; Expects 2022 Earnings Near Mid-Point of $3.60 - $3.90 Per Share Range

Retrieved on: 
Wednesday, November 9, 2022

ALLETE, Inc. (NYSE: ALE) today reported third quarter 2022 earnings of 59 cents per share on net income of $33.7 million.

Key Points: 
  • ALLETE, Inc. (NYSE: ALE) today reported third quarter 2022 earnings of 59 cents per share on net income of $33.7 million.
  • Also impacting the quarter were ongoing inflation, supply chain challenges and transmission congestion resulting in lower earnings at ALLETE Clean Energy.
  • Third quarter 2022 earnings reflect higher income at Minnesota Power primarily due to the implementation of interim rates on January 1, 2022.
  • Earnings per share dilution in 2022 was approximately 5 cents due to additional shares of common stock outstanding as of September 30, 2022.

ALLETE, Inc. Reports Second Quarter Earnings of 67 Cents Per Share, Reaffirms 2022 Earnings Guidance Range of $3.60 - $3.90 Per Share

Retrieved on: 
Wednesday, August 3, 2022

ALLETE, Inc. (NYSE: ALE) today reported second quarter 2022 earnings of 67 cents per share on net income of $37.6 million.

Key Points: 
  • ALLETE, Inc. (NYSE: ALE) today reported second quarter 2022 earnings of 67 cents per share on net income of $37.6 million.
  • Second quarter 2022 earnings reflect higher income at Minnesota Power primarily due to the implementation of interim rates on January 1, 2022.
  • ALLETE Clean Energy recorded second quarter 2022 net income of $5.8 million compared to $5.1 million in 2021.
  • Earnings per share dilution in 2022 was approximately 5 cents due to additional shares of common stock outstanding as of June 30, 2022.

SWEPCO SEEKS APPROVAL FOR THREE NEW WIND AND SOLAR PROJECTS

Retrieved on: 
Tuesday, May 31, 2022

COLUMBUS, Ohio, May 31, 2022 /PRNewswire/ -- Southwestern Electric Power Company (SWEPCO), a subsidiary of American Electric Power (Nasdaq: AEP), has announced plans to add three renewable energy projects totaling 999 megawatts (MW). The projects represent a $2.2 billion investment in clean, cost-effective resources. SWEPCO expects to issue another request for proposal (RFP) in the near term for additional renewable energy consistent with the company's integrated resource plan for its energy and capacity needs.

Key Points: 
  • SWEPCO is seeking approval from regulators in Arkansas, Louisiana and Texas to acquire the 200-MW Mooringsport solar project in Caddo Parish, Louisiana; the 200.6-MW Diversion wind project in Baylor County, Texas; and the 598.4-MW Wagon Wheel wind project spanning Logan, Garfield and Noble counties in Oklahoma.
  • The solar and wind projects were identified through a competitive bidding process.
  • Following state regulatory approvals, AEP will file with the Federal Energy Regulatory Commission for approval to transfer the projects from Invenergy.
  • The project includes 199-MW Sundance, 287-MW Maverick and 998-MW Traverse wind projects and is one of the largest wind facilities in the world.

Voltus, Inc. Reports Full-Year 2021 Results Meaningfully Greater than Prior Guidance and Encourages Investors to Join Its Upcoming Investor Day

Retrieved on: 
Monday, March 21, 2022

For 2021, revenue was $47.4 million, which was 13% higher than the previous forecast of $42 million, and 94% higher than 2020s revenue.

Key Points: 
  • For 2021, revenue was $47.4 million, which was 13% higher than the previous forecast of $42 million, and 94% higher than 2020s revenue.
  • As proud as we are of our 2021 results, were more excited to seek to deliver on our previously announced projections for 2022 and beyond.
  • We encourage investors to join us on this mission and participate in our investor day on March 22.
  • An amended S-4 was filed March 18th, which provides additional information regarding Voltuss 2021 results, among other items.