PSEG Power retires Bridgeport Harbor Station coal plant, effective May 31
PSEG Power becomes 100% coal-free on long-term path to net-zero carbon emissions
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BRIDGEPORT, Conn., June 1, 2021 /PRNewswire/ PSEG Power has retired its Bridgeport Harbor Station Unit 3 power plant, effective May 31, marking the completion of the company s long-term coal exit strategy as the company pursues a path to net-zero carbon emissions. BHS 3 was the last remaining coal-fired power plant in PSEG Power s generation fleet.
Originally designed to be fueled with either oil or coal when placed in service in 1968, Unit 3 was converted to a full-time coal unit in 2002. BHS 3 provided 400-megawatts of peaking capacity to southern Connecticut, operating only when called upon during times of peak energy demand, such as extreme heat or extreme cold. In conjunction with the opening of Bridgeport Harbor Station Unit 5 (BHS 5), a highly efficient 485-mega
Dive Brief:
The sale of Public Service Enterprise Group s (PSEG) solar portfolio is part of a larger strategy, one that has the New Jersey-based power company betting big on another source of renewable energy – offshore wind turbines.
PSEG announced on May 5 it had agreed to sell its 467 MW dc Solar Source portfolio to Quattro Solar, LLC, an affiliate of LS Power. The package includes 25 solar facilities. PSEG said it expects the sale of its solar assets to close in the second quarter, with the net carrying value of the portfolio s assets and liabilities at approximately $500 million.
PSEG s sale of its Solar Source portfolio came just a few weeks after the utility cut a deal to buy a 25% stake in the 1,100 MW offshore project Ocean Wind, off the coast of New Jersey.
Tuesday, 11 May 2021 Public Service Enterprise Group Inc. (PSEG)t has entered into an agreement to sell its PSEG Solar Source LLC portfolio to Quattro Solar, LLC, an affiliate of LS Power. The sale includes the 467-megawatt-dc Solar Source portfolio of 25 solar facilities located in various states and related assets and liabilities. The sale of this non-core generation portfolio is part of PSEG’s Strategic Alternatives process to explore options for PSEG Power s non-nuclear generating fleet which, in addition to Solar Source, includes more than 6,750 megawatts of fossil generation. Courtesy of NREL
“This sale marks a key milestone in our Strategic Alternatives process as we continue our transformation into a primarily regulated utility. We also intend to continue our efforts to preserve our existing carbon-free nuclear fleet and to seek regional growth opportunities in offshore wind projects that fit with PSEG’s Powering Progress strategy,” PSEG Chairman, President a
Public Service Enterprise Group has agreed to sell a solar facility portfolio, it announced this week, continuing its process of exploring options for its non-nuclear generating fleet.
PSEG said in a news release that it will sell its PSEG Solar Source LLC portfolio to Quattro Solar LLC, an affiliate of LS Power. The portfolio includes 25 solar facilities and related assets in various states, comprising 467 megawatts of power.
“This sale marks a key milestone in our strategic alternatives process as we continue our transformation into a primarily regulated utility,” Chairman, CEO and President Ralph Izzo said in a prepared statement. “We intend to continue our efforts to preserve our existing carbon-free nuclear fleet and to seek regional growth opportunities in offshore wind projects that fit with PSEG’s Powering Progress strategy.”