Power producers appeal PG&E PPA decision – “Power producers NextEra Inc , Consolidated Edison Inc and Calpine Corp on Thursday said they will appeal to try to overturn a recent decision by a judge that a federal regulator has no say in whether utility PG&E Corp (PCG.N) may reject its power purchase agreements if it chooses to while in bankruptcy. PG&E’s power purchase agreements are valued at up to $42 billion and the matter of whether the company can walk away from them belongs exclusively in bankruptcy court, Judge Dennis Montali of the U.S. Bankruptcy Court in San Francisco said in a June 7 decision… The dispute involving the regulator, PG&E and companies from which it buys power has been one of the most contentious fights so far in the San Francisco-headquartered utility’s bankruptcy, launched in January.” Source: Reuters
Governor Hickenlooper climate pan – Former Governor of Colorado and current presidential hopeful John Hickenlooper (D) has released his presidential climate policy. The policy is pillared by three tenants:
- Global leadership toward even bolder climate change goals
- A market-based and job-creating clean energy plan for America
- A science-based, fact-based national call to action
The plan would also begin the process of rejoining the Paris Climate Agreement, with the goal of going further than the outlines of that commitment, to drastically cut down U.S. emissions. At this point the plan is preliminary, so specific energy goals were not present. Source: Medium
KBRA assigns rating to three Sunnova solar loan notes – “Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Sunnova Helios III Issuer, LLC, Solar Loan Backed Notes, Series 2019-A. This is a $167.63 million term ABS securitization collateralized by a pool of approximately $186.3 million residential solar loans… The residential solar loans in the transaction include Sunnova Energy’s EZ Own and Easy Own loan agreements. All of Sunnova’s residential solar loans have a 25-year original term. As of the statistical cutoff date, the average current balance, weighted average remaining term, weighted average seasoning and weighted average current interest rate of loans in the initial loan pool is $30,061, 23.8 years (286 months), 14 months and 5.94%, respectively. The average borrower in the statistical pool is a homeowner with a weighted average original FICO score of 729.” Source: KBRA
Prudential funds Soltage – Soltage has announced that the company has reached an agreement with Prudential Capital Group for what has been called a “significant investment.” The funds will be used to drive the acquisition and development of new solar projects. “We admire Soltage’s track record, significant growth ambitions and are excited to provide a flexible, one-stop solution for their programmatic development, acquisition and ownership needs,” said Parag Patel, Vice President at Prudential Capital Group.” Source: Soltage
CellCube $6 million flow battery deal – CellCube announced that the company has officially signed an agreement with Immersa Ltd., for $6 million over the next two years. Under the terms of the deal, Immersa Ltd. reserves production capacity and installation services for CellCube’s new generation of Vanadium Redox Flow Battery System, the company’s most recent venture. This stipulation allows Immersa control over conditions on price, delivery terms and electrolyte-as-a-service model. Source: CellCube
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Hickenlooper is an oil & gas supporter. He has been against any attempt to try to reign in fracking here in Colorado. He might have a clean power plan, but only because one is needed to move forward as a Democrat. I doubt that he truly believes it is necessary as policy.