PSEG Enters Agreement to Sell Its Solar Source Portfolio to Affiliate of LS Power
Transaction Furthers PSEG Strategic Alternatives Transformation
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NEWARK, N.J., May 5, 2021 /PRNewswire/ Public Service Enterprise Group Inc. (PSEG) today announced that it 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.
Public Service Enterprise Reaffirms FY21 Operating Earnings Outlook
WASHINGTON (dpa-AFX) - While reporting financial results for the first quarter on Wednesday, Public Service Enterprise Group, Inc. (PEG) reaffirmed its full-year 2021 guidance for operating earnings.
For fiscal 2021, the company still projects operating earnings in a range of $3.35 to $3.55 per share.
On average, 19 analysts polled by Thomson Reuters expect the company to report earnings of $3.44 per share for the year. Analysts estimates typically exclude special items. We are on track to execute PSEG s five-year, $14 billion to $16 billion capital plan through 2025 and have the financial strength to fund it without the need to issue new equity. Over 90% of this capital program is directed to PSE&G, which is expected to produce 6.5% to 8% compound annual growth in rate base over the 2021 - 2025 period, said Ralph Izzo, chairman, president and CEO.
The New Jersey Board of Public Utilities has unanimously voted to extend the zero emission certificates for the Hope Creek and Salem nuclear power plants for an additional three years.
EnergyNew Jersey regulators extend nuclear subsidies for PSEG/Exelon reactors
Reuters
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The thermoelectric plant Bocamina is seen after Unit I was closed today amid a drive by Chile to end carbon emissions from its grid, in Coronel, Chile December 31, 2020. REUTERS/Jose Luis Saavedra
New Jersey utility regulators on Tuesday voted unanimously to extend subsidies, called Zero Emission Certificates (ZECs), for the state s three nuclear power reactors at Salem and Hope Creek for an additional three years.
The reactors are owned in whole or in part by units of New Jersey energy company Public Service Enterprise Group Inc (PSEG)(PEG.N) and Illinois energy company Exelon Corp (EXC.O).
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Philadelphia Inquirer
Apr. 28 New Jersey on Tuesday renewed subsidies of about $300 million a year for the state s three nuclear power reactors at Salem and Hope Creek, the source of 90% of the state s carbon-free electricity.
The New Jersey Board of Public Utilities approved the subsidies, called Zero Emission Certificates, for three years for the Hope Creek Generating Station and the twin-unit Salem Nuclear Power Plant, located in Lower Alloways Township on Delaware Bay. The giant reactors supply New Jersey with about 37.5% of its power, including about 90% of its electricity produced without greenhouse gas emissions.
The owners of the plants, Public Service Enterprise Group Inc. (PSEG) of New Jersey and Exelon Corp. of Illinois, had argued that without the subsidies, the plants would struggle to compete in markets where prices are set by low-cost natural gas power plants. The New Jersey Chamber of Commerce applauded Tuesday s unanimous vote, saying it kept