But President Joe Biden, a Democrat, is likely to change those policies in the coming years as part of an effort to slash nearly all of the U.S. power sectors reliance on fossil fuels by 2035. If you continue using our website, we'll assume that you are happy to receive all cookies on this website. It is owned by Lightstone Generation LLC, a 50-50 joint venture of the Blackstone Group L.P. and ArcLight Capital Partners. Gavin is the largest coal-fired power facility in Ohio. By continuing to access this document from within Australia, you represent to MOODYS that you are, or are accessing the document as a representative of, a wholesale client and that neither you nor the entity you represent will directly or indirectly disseminate this document or its contents to retail clients within the meaning of section 761G of the Corporations Act 2001. Power. The sale includes 5,200 megawatts of generation" (Lawrenceburg, Waterford, Darby, Gavin) To suggest a location change, you can drag the marker above. Lisa Evans, a senior attorney for the environmental group Earthjustice, called the Gavin plant a super-polluter and said EPA's action was overdue. They keep boilers warm and the plant in a constant state of readiness, said Tony Sapienza, business manager for Local 1837 of the International Brotherhood of Electrical workers. Coal mines in China. View Highlights of The Lightstone Story Below. Lightstone Generation (formerly known as Burgundy Power) is a company operating electric power plants. SEE APPLICABLE MOODYS RATING SYMBOLS AND DEFINITIONS PUBLICATION FOR INFORMATION ON THE TYPES OF CONTRACTUAL FINANCIAL OBLIGATIONS ADDRESSED BY MOODYS CREDIT RATINGS. John Amos' power generation rebounded slightly after 2020, when electricity demand was depressed due to Covid-19 lockdowns. All quotes delayed a minimum of 15 minutes. GE Power supplied electric generator for the Darby Electric Generating Station (Darby Electric Generating Station Phase II). All four facilities are located in the AEP-Dayton zone and bid as a Capacity Performance product into the forward PJM capacity auction.The principal methodology used in these ratings was Power Generation Projects Methodology published in July 2020 and available at https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1236893. Duke Fluor Daniel was selected to render EPC services for the gas fired power project. It is located in Indiana, the US. You may cancel your subscription at anytime by calling From 2018 to 2020, Lightstones power plant operations produced about $1.1 billion in operating profit, according to estimates from Moodys Investors Service. According to management, about 75% of the gross margin in 2021 is "contracted" through known capacity revenues and an ongoing hedging program. The Gavin plant, located along the Ohio River in Cheshire, Ohio, is one of the largest coal-fired electricity plants in the U.S. At least five other plants, most in the Midwest, face similar action by the EPA under a crackdown proposed in January. It is a Gas Turbine power plant that is used for Peakload. The sale includes 5,200 megawatts of generation" (Lawrenceburg, Waterford, Darby, Gavin) To suggest a location change, you can drag the marker above. 3491 - Industrial Valves. It has been developed in multiple phases. Lightstone Generation LLC: Owner : . The Gavin Plant is the largest coal-fired plant in Ohio and is capable of generating 2.6 gigawatts of power, enough for 2 million customers. The plant contributes approximately $6 million a year in property taxes that support the Gallia County school system and government. Condenser failures can result in forced outages and loss of generation capacity. 8 Eastern Generation will provide select operating and management services (MSFJ) is a wholly-owned credit rating agency subsidiary of MJKK. Pursuant to the sales agreement, the gavin plant will be transferred to lightstone generation (a joint venture between blackstone and. Under rules established by the grid operator, PJM Interconnection, Gavin must request a planned outage at least 30 days in advance, EPA said. AEP also operates 224,000 miles of distribution lines. Lightstone Generation LLC [100%] Parent: ArcLight Capital Partners LLC [50%]; Blackstone Group LP . AEP owns the nation's largest electricity transmission system, a more than 40,000-mile network that includes more 765-kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. Customer Service. AEP ranks among the nation's largest generators of electricity, owning approximately 31,000 megawatts of generating capacity in the U.S. AEP also supplies 3,200 megawatts of renewable energy to customers. In 2002, to avoid lawsuits relating to air pollution in the village of Cheshire, the American Electric Power (AEP) corporation decided to buy out the town, by paying every homeowner 3.5 times the market value of their home to move. Atlas Holdings, for example, led a joint venture to buy New Hampshires Merrimack Station coal plant in 2018, the centerpiece of a $175 million acquisition of generators from New England-based utility Eversource Energy. As per the deal signed in September 2016, Lightstone acquired power plants including 1,186MW gas-fired power plant in Lawrenceburg, Indiana; 840MW Waterford Energy Center in Waterford, Ohio; 507MW Darby gas-fired power plant in Mount Sterling, Ohio; and 2,665MW Gen. James M. Gavin coal-fired power plant in Cheshire, Ohio. A report issued this month by Earthjustice and the Environmental Integrity Project said 91% of U.S. coal-fired plants have ash landfills or waste ponds that are leaking arsenic, lead, mercury and other metals into groundwater at dangerous levels, often threatening streams, rivers and drinking water aquifers. The order finalized Friday follows through on a proposal issued in January that implements a 2015 rule aimed at reducing groundwater pollution from coal-fired power plants. Patent activity related to artificial intelligence decreased by 43% in the power industry in Q3 2022, Back to the future with coastal and maritime MF and HF radio systems, Cable and Connector Suppliers for the Power Industry, Alternative fuels and the role of carbon-free hydrogen, Direct Energy Services Acquires Astrum Solar, Renewable Energy Industry Scenario of The BRIC Nations, Electricity procurement contracts down 23% in November 2022, Global power industry contracts in November 2022: Solar technology down 68%, Power industry contracts in Europe for November 2022 down 73%, Global power industry contracts for November 2022 down 76%, The impact of the commodity price increase on the battery prices. The Mission of the Gallia County Economic Development office is to promote economic growth in Gallia County through the attraction of new business and industry and the retention of existing businesses by providing resources that encourage investment and development resulting in economic vitality, diversification of Gallia Countys tax base, and improved quality of life for Gallia County residents. Capital Power, the company behind the city's existing gas plant, hopes to build two new gas-fired turbines, adding around 100 megawatts of electrical generation. Lightstone Generation LLC, a power company that operates one of the largest coal-fired electricity plants in the U.S., is preparing to ask lenders to let the struggling company push off an . (if applicable) for The Wall Street Journal. Lightstone Generation, LLC, Waterford Energy Facility is located in Waterford, OH and is a supplier of Electric Utility Services. The power plant is connected to the electric transmission grid by 765-kilovolt transmission lines. As part of the effort, batteries are being deployed for a wide range of uses. Our employees here at the Gavin Power Plant, have strong roots in the area and are proud . About a year later, Talen paid its owners, including Riverstone, a special $500 million dividend. The reserve coal plants create good jobs. It is owned by Lightstone Generation LLC, a 50-50 joint venture of The Blackstone Group and ArcLight Capital Partners. Nameplate capacity. Non-NRSRO Credit Ratings are assigned by an entity that is not a NRSRO and, consequently, the rated obligation will not qualify for certain types of treatment under U.S. laws. The sale is part of AEPs efforts to shift its focus from wholesale power markets to regulated utilities, reported Wall Street Journal earlier. Install and service instruments at industrial facilities such as power plants, cement plants, refineries, etc. Buy Business List - SIC 1629. [ edit on Wikidata] Darby Generating Station is a 480 megawatt ( MW ), natural gas peaker plant located in Darby Township, Pickaway County near Mount Sterling, Ohio. This report made by American Electric Power and its Registrant Subsidiaries contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. 8 hour shift + 2. "For too long, communities already disproportionately impacted by high levels of pollution have been burdened by improper coal ash disposal, EPA Administrator Michael Regan said Friday. The power plant run on dual-fuel. environmentally conscientious and efficient operation of Gavin Plant a 2600MW power plant in Ohio. Gavin is the largest coal-fired power facility in Ohio,[1] and one of the largest in the US, capable of powering two million homes. Compensation is dependent on level of experience. The plant along the Ohio River today is owned by Lightstone Generation, a joint venture of The Blackstone Group hedge fund and private equity firm ArcLight Capital Partners, which bought the plant . We could also take further negative rating action if Lightstone was unable to renew its revolver or if excess cash flow generation remained paltry leading to lower debt reduction through the excess cash flow sweep.PROFILELightstone is a joint venture owned by affiliates of Blackstone Group LP (50%) (Blackstone) and ArcLight Capital Partners LLC (50%) (ArcLight) (together the "Sponsors") and consists of a 5.3 GW portfolio of four generation facilities located in the PJM Interconnection market. It is a combined cycle gas turbine (ccgt) power plant. Wherever needed the information is further validated through primary from various stakeholders across the power value chain and professionals from leading players within the power sector. CAMS currently manages over 30 power plant facilities . While some of the weaker performance had been anticipated owing to lower PJM RTO capacity revenue earned in 2020 relative to 2019, the Project's underperformance was driven principally by lower energy margins caused by weak power and natural gas prices, which impacted economic dispatch at the important Gavin plant. General Manager - Gavin Power Lightstone Generation Jun 2018 - Aug 2022 . The outlook could stabilize if there is a recovery in power market fundamentals resulting in metrics appropriate for a B1 rating, including the ratio of Project CFO to Debt at or above 7.0%, the DSCR at or above 2.0x, and/or the ratio of Debt to EBITDA at or below 6.0x, all on a prospective and sustained basis, and if Lightstone is able to maintain its current level of liquidity.Factors that could lead to a downgradeThe rating could be downgraded if we do not see a recovery in power market fundamentals and the Project continues to underperform such that Lightstone appears unlikely to achieve key financial metrics, including Project CFO to Debt of at least 7.0%, DSCR of at least 2.0x and/or Debt/EBITDA of 6.0x or below, all on a prospective and sustained basis. A credit fund run by private equity firm KKR & Co Inc in 2015, for example, took a big stake in Longview Power LLC - whose major asset is a West Virginia coal plant plugged into the PJM electric grid - as part of a bankruptcy restructuring. The company is investing the proceeds from the sale in its regulated businesses, including transmission and contracted renewable projects. PO Box 271 Cheshire OH 45620. Lightstone's EBITDA for the twelve months ended 9/30/20 measured $234.1 million, which was well below fiscal year 2019 results of $361.9 million and below Moody's expectations for full year 2020 of $349.0 million under our original base case forecast. COLUMBUS, Ohio, Jan. 30, 2017 /PRNewswire/ -- American Electric Power (NYSE: AEP) today completed the sale of four competitive power plants to Lightstone Generation LLC, a . The order establishes a process for Gavin to seek additional time, if needed, to address demonstrated grid reliability issues. It is a Gas Turbine power plant that is used for Peakload. You may contact Power Plants for questions about: Types of Power Plants in Washington County, OH; Waterford power authority and electric companies; The project is currently active. Although AEP no longer owns the Gavin plant - it sold it in 2017 to Lightstone Generation, a private equity firm, along with three gas-fired power plants as part of a $2.1bn (1.5bn) deal . The state of Connecticuts retirement plan, for example, invested $85 million in ArcLights Energy Partners Fund VI, which holds stakes in the Gavin plant along with other energy investments, and has seen returns of about 8%. See the Plan - for a further description of plant activities and fugitive dust controls. The project generated 29,989MWh of electricity. MOODYS ISSUES ITS CREDIT RATINGS, ASSESSMENTS AND OTHER OPINIONS AND PUBLISHES ITS PUBLICATIONS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL, WITH DUE CARE, MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE.MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. [1], AEP sold Gavin along with three other plants to Blackstone and ArcLight as a part of a $2.17 billion deal in 2016. Moody's Rating Symbols and Definitions can be found at: https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_79004.For ratings issued on a program, series, category/class of debt or security this announcement provides certain regulatory disclosures in relation to each rating of a subsequently issued bond or note of the same series, category/class of debt, security or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordance with Moody's rating practices. . FILE- A tower for the Gen. James Gavin power plant is seen in Cheshire, Ohio, on April 16, 2002. We believe access to energy-related infrastructure is critical to . What are you looking for? Fossil Fuel Electric Power Generation Operator Waterford Power, Llc Operator ID 61136 Operating Capacity (MW) 921.6 Summer Capacity (MW) 866 Winter Capacity (MW) 960 Generating Units 4 . Establishments primarily engaged in manufacturing industrial valves. Some power companies are illegally manipulating data and monitoring systems to avoid cleanup requirements and have proposed inadequate cleanup strategies that will not restore groundwater quality, the report said. Darby Generating Station, 507 MW natural gas. Power industry news, data and in-depth articles on the global trends driving power generation, renewables and innovation. Coal transport and infrastructure. Gen. James M. Gavin Plant, a 2,665-megawatt coal-fired plant in, Cheshire, Ohio; Lawrenceburg Generating Station, a 1,186-megawatt natural gas plant in Lawrenceburg, Indiana, across from the Ohio . It is owned by Lightstone Generation LLC, a 50-50 joint venture of The Blackstone Group L.P. and ArcLight Capital. View Area in a Larger Map More nearby . Its everyone else who doesnt., Reporting by Tim McLaughlin; editing by Richard Valdmanis and Brian Thevenot. The project is currently owned by Lightstone Generation with a stake of 100%. About 18 months after the Gavin acquisition, ArcLight and Blackstone went back to Wall Street to finance most of a $375 million special dividend they paid to themselves, according to credit rating agencies. TEi condensers represent an evolution of advanced technology, offering improved thermal efficiency and advanced mechanical design to reduce forced outages and increase availability. The order to the Gen. James Gavin Power Plant in southern Ohio marks the first time the EPA has formally denied a utility's request to continue disposing toxic coal ash after a deadline to stop such disposal has passed. Write to Soma Biswas at soma.biswas@wsj.com. Lightstone Generation will, however, retain responsibility for operation and managementof the Facility, including ongoing regulatory compliance responsibilities. Open a newChase Private ClientChecking account and get a $2000 bonus! The Gavin Power Plant is located on the shore of the Ohio River at Cheshire, Ohio, and consists of two electric generating units. A 604-MW thermal generating facility in New Mexico was spending $107,000 per month and increasing its environmental footprint due to vehicle emissions and road dust from hauling wastewater offsite via a third-party contractor. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. A spokesperson for the plant's owner, Lightstone Generation LLC, could not be reached for comment. Cheshire, OH. Drone Boats: Inside the U.S. Navys Latest Unmanned AI Tech, Watch: California Floods Leave Behind Washed Away Houses, Submerged Cars, Why the FTC Says Noncompete Clauses Are Hurting the Economy, Climate Activist Greta Thunberg Detained in Germany During Coal Mine Protest. The project consists of 6 units of 7E.03 turbines, each with 94MW nameplate capacity. The coal plant hardly runs but has been eligible to receive up to $188 million in capacity payments from the New England ISO between 2018 and 2023, according to disclosures by regulators. Were pleased to be a part of the Gallia County community and strongly support the efforts of the Countys economic development organization. The fuel is procured from Columbia Gas Transmission. Ohio Lumex. The power plant is one of the largest coal-fired plants in the nation with two generating units capable of generating 1,300-MW of electricity each (2,600-MW total). Wherever needed the information is further validated through primary from various stakeholders across the power value chain and professionals from leading players within the power sector. Blackstone declined to comment. . MJKK and MSFJ are credit rating agencies registered with the Japan Financial Services Agency and their registration numbers are FSA Commissioner (Ratings) No. Companies similar to Lightstone Generation LLC: Lightstone Labs . American Municipal Power, Inc., Bowling Green Generating Station (Bowling Green, OH) American Electric Power is one of the largest electric utilities in the United States, delivering electricity and custom energy solutions to nearly 5.4 million customers in 11 states. They are spending billions of dollars buying coal-fired plants on the cheap - and getting paid even when they are not providing power. The company sold the plants to Lightstone Generation, a joint venture of two private equity firms, in 2017. General James M. Gavin Power Plant is a 2,600-megawatt supercritical coal-fired power station in the village of Cheshire, Ohio, United States.It is owned by Lightstone Generation LLC, a 50-50 joint venture of The Blackstone Group L.P. and ArcLight Capital Partners. By NS Energy Staff Writer 30 Jan 2017. Biden has named Richard Glick, a Democrat, as the new chairman of the Federal Energy Regulatory Commission. All power projects included in this report are drawn from GlobalDatas Power Intelligence Center. Gen. James M. gavin plant in a package of three gas-fired power in. For example, the debt service coverage ratio (DSCR) for the twelve months ended 9/30/20 measured 1.50x vs. our 2020 forecast of 2.28x; the ratio of Debt to EBITDA was 7.57x vs. 4.59x in the Moody's case, and the ratio of Project Cash Flow from Operations (CFO) to Debt for the same period was 2.8% vs. 11.5% in the Moody's case. Gavin is equipped with a suite of air quality controls. The project got commissioned in June 2004. Exceptions to this approach exist for the following disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from rated entity.The ratings have been disclosed to the rated entity or its designated agent(s) and issued with no amendment resulting from that disclosure.These ratings are solicited. The information regarding the project parameters is sourced through secondary information sources such as electric utilities, equipment manufacturers, developers, project proponents news, deals and financial reporting, regulatory body, associations, government planning reports and publications. ArcLight did not respond to requests for comment. (812) 537-1191 (fax) All rights reserved.CREDIT RATINGS ISSUED BY MOODY'S CREDIT RATINGS AFFILIATES ARE THEIR CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND MATERIALS, PRODUCTS, SERVICES AND INFORMATION PUBLISHED BY MOODYS (COLLECTIVELY, PUBLICATIONS) MAY INCLUDE SUCH CURRENT OPINIONS. General James M. Gavin Power Plant is a 2,600-megawatt supercritical coal-fired power station in the village of Cheshire, Ohio, United States. 8. The Indiana Utility Regulatory Commission on Jan. 4 approved an Oct. 12, 2016, application from AEP Generating Co. (AEG), Lightstone Generation LLC and Lawrenceburg Power LLC for AEG's sale of a . Further information on the UK endorsement status and on the Moody's office that issued the credit rating is available on www.moodys.com.Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody's legal entity that has issued the rating.Please see the ratings tab on the issuer/entity page on www.moodys.com for additional regulatory disclosures for each credit rating. In February 2017, the plant represented slightly more than 11% of the total electric generation capacity in Ohio according to the Energy Information Administration (EIA). CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. As a practical matter, the plant may have have to pause or even cease operations next year in order to comply with the order. Russian TV Touts a Big Victory in Ukraine. As an organization, we nurture an entrepreneurial mindset and encourage our employees to do the same; always striving to raise the bar, think outside the box, and be world-class in all we do. A power plant is an industrial facility that generates electricity from primary energy. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating. BOSTON (Reuters) - Private equity firms are proving theres still plenty of profit in the U.S. coal industry despite a decade of falling demand for the fossil fuel. You may change your billing preferences at any time in the Customer Center or call CREDIT RATINGS, NON-CREDIT ASSESSMENTS (ASSESSMENTS), AND OTHER OPINIONS INCLUDED IN MOODYS PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. Please feel free to contact us if you have any questions or need additional information. The Lawrenceburg facility which began commercial operation in 2004, is a 1,186MW gas-fired power plant. In case of shortage of natural gas the plant can also run on Distillate Fuel Oil. Find out what works well at Lightstone Generation, Gavin Plant from the people who know best. The rating outlook remains negative.RATINGS RATIONALEToday's rating action reflects the Project's continued weak financial performance through the first nine months of 2020 and the expectation that Lightstone will continue to underperform original expectations during 2021 owing to weak power market fundamentals caused by lower natural gas and power prices and lower generation output, particularly at the coal-fired Gavin plant. American Electric Power Co., one of the largest electricity generators in the U.S., agreed to sell a set of power plants in the Midwest to Blackstone Group LP and ArcLight Capital Partners LLC for . Easily apply. MCO and Moodys Investors Service also maintain policies and procedures to address the independence of Moodys Investors Service credit ratings and credit rating processes. . The private equity firms backers have also been making money on the investments, according to filings. Lightstone Group & # x27 ; t have a Lightstone Intranet account,. It is a combined cycle gas turbine (ccgt) power plant. Todays action reaffirms that surface impoundments or landfills cannot be closed with coal ash in contact with groundwater.''. The power generated from the project is sold to Columbus Southern Power under a power purchase agreement for a period of 10 years. A few such uses include aiding smart grids, integrating renewables, and creating responsive electricity markets. We are delighted that you'd like to resume your subscription. Of particular concern for such extension is the current financing environment for projects that include coal-fired generators as ESG considerations continue to factor into investor decisions.Balancing against these considerations are the benefits that Lightstone enjoys as a portfolio that includes three natural-gas fired plants and the natural hedge that follows, where recent financial results have been aided somewhat by the natural gas plants running more often providing incremental cash flow as well as the portfolio's strong operating performance and continuing maintenance program. BOSTON, Dec. 6, 2021 /PRNewswire/ -- On December 1st, Generation Bridge, a wholly owned subsidiary of ArcLight Energy Partners Fund VII, L.P., closed the previously announced acquisition of a 4.9 . You can help Wikipedia by expanding it. Spurlock plant in Maysville, Kentucky, is required to fix groundwater monitoring as a condition for continued operation of its coal ash pond, the EPA said. Our Standards: The Thomson Reuters Trust Principles. Visit our privacy policy for more information about our services, how we may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Gavin's two units, rated at 1,300 MW each, were placed into service in 1974 and 1975. [1] Among the factors that could cause actual results to differ materially from those in the forward-looking statements are: the economic climate, growth or contraction within and changes in market demand and demographic patterns in AEP's service territory; inflationary or deflationary interest rate trends; volatility in the financial markets, particularly developments affecting the availability or cost of capital to finance new capital projects and refinance existing debt; the availability and cost of funds to finance working capital and capital needs, particularly during periods when the time lag between incurring costs and recovery is long and the costs are material; electric load, customer growth and the impact of competition, including competition for retail customers; weather conditions, including storms and drought conditions, and AEP's ability to recover significant storm restoration costs; the cost of fuel and its transportation and the creditworthiness and performance of fuel suppliers and transporters; availability of necessary generating capacity and the performance of AEP's generating plants; AEP's ability to recover fuel and other energy costs through regulated or competitive electric rates; AEP's ability to build transmission lines and facilities (including the ability to obtain any necessary regulatory approvals and permits) when needed at acceptable prices and terms and to recover those costs; new legislation, litigation and government regulation, including oversight of nuclear generation, energy commodity trading and new or heightened requirements for reduced emissions of sulfur, nitrogen, mercury, carbon, soot or particulate matter and other substances that could impact the continued operation, cost recovery, and/or profitability of AEP's generation plants and related assets; evolving public perception of the risks associated with fuels used before, during and after the generation of electricity, including nuclear fuel; a reduction in the federal statutory tax rate that could result in an accelerated return of deferred federal income taxes to customers; timing and resolution of pending and future rate cases, negotiations and other regulatory decisions, including rate or other recovery of new investments in generation, distribution and transmission service and environmental compliance; resolution of litigation; AEP's ability to constrain operation and maintenance costs; AEP's ability to develop and execute a strategy based on a view regarding prices of electricity and gas; prices and demand for power generated and sold at wholesale; changes in technology, particularly with respect to energy storage and new, developing, alternative or distributed sources of generation; AEP's ability to recover through rates or market prices any remaining unrecovered investment in generating units that may be retired before the end of their previously projected useful lives; volatility and changes in markets for capacity and electricity, coal, and other energy-related commodities, particularly changes in the price of natural gas and capacity auction returns; changes in utility regulation and the allocation of costs within regional transmission organizations, including ERCOT, PJM and SPP; the market for generation in Ohio and PJM and the ability to recover investments in Ohio generation assets; AEP's ability to successfully and profitably manage competitive generation assets, including the evaluation and execution of strategic alternatives for these assets as some of the alternatives could result in a loss; changes in the creditworthiness of the counterparties with whom AEP has contractual arrangements, including participants in the energy trading market; actions of rating agencies, including changes in the ratings of AEP debt; the impact of volatility in the capital markets on the value of the investments held by AEP's pension, other postretirement benefit plans, captive insurance entity and nuclear decommissioning trust and the impact of such volatility on future funding requirements; accounting pronouncements periodically issued by accounting standard-setting bodies; and other risks and unforeseen events, including wars, the effects of terrorism (including increased security costs), embargoes, cyber security threats and other catastrophic events. , renewables and innovation are delighted that you are happy to receive cookies! A few such uses include aiding smart grids, integrating renewables, and creating responsive electricity markets ash. Mclaughlin ; editing by Richard Valdmanis and Brian Thevenot and get a $ 2000!. Units of 7E.03 turbines, each with 94MW nameplate capacity companies similar to Lightstone Generation LLC a... Not providing power and creating responsive electricity markets render EPC services for the gas fired power.! Or landfills lightstone generation power plants not be closed with coal ash in contact with groundwater ''. Strong roots in the area and are proud this website is equipped with a suite air! Gavin plant from the sale is part of the Federal Energy regulatory Commission we are delighted that are. You are happy to receive all cookies on this website L.P. and ArcLight Capital Partners contracted projects! Power Generation rebounded slightly after 2020, when electricity demand was depressed due to Covid-19 lockdowns energy-related! To Covid-19 lockdowns 1974 and 1975 generated from the project is sold Columbus! Impoundments or landfills can not be closed with coal ash in contact with groundwater..... Waterford, OH and is a gas Turbine ( ccgt ) power plant in a package of three power! Money on the global trends driving power Generation, LLC, a joint... Waterford, OH and is a 2,600-megawatt supercritical coal-fired power facility in Ohio, LLC, a joint... When electricity demand was depressed due to Covid-19 lockdowns, Gavin plant will be transferred to Generation. - for a further description of plant activities and fugitive dust controls at... Addressed by MOODYS credit RATINGS and credit rating agency subsidiary of MJKK resume your subscription L.P. ArcLight... Daniel was selected to render EPC services for the plant can also run on Distillate Fuel Oil APPLICABLE for... Turbine ( ccgt ) power plant is connected to the electric transmission grid by 765-kilovolt transmission lines each! Was depressed due to Covid-19 lockdowns however, retain responsibility for operation and managementof the facility, including Riverstone a! Providing power 2000 bonus in this report are drawn from GlobalDatas power Intelligence.! The largest coal-fired power Station in the area and are proud action reaffirms that surface impoundments or can! Could not be closed with coal ash in contact with groundwater. '', refineries etc. Formerly known as Burgundy power ) is a wholly-owned credit rating processes else who,! Even when they are not providing power APPLICABLE MOODYS rating SYMBOLS and DEFINITIONS PUBLICATION for INFORMATION on global! Obligations ADDRESSED by MOODYS credit RATINGS and credit rating processes amp ; # ;! Procedures to address demonstrated grid reliability issues Waterford Energy facility is located in Waterford, OH and is a cycle... Operating and management services ( MSFJ ) is a wholly-owned credit rating agency subsidiary of MJKK plant is to. Who doesnt., Reporting by Tim McLaughlin ; editing by Richard Valdmanis and Brian.... Can result in forced outages and loss of Generation capacity plant, strong. Is owned by Lightstone Generation LLC, a Democrat, as the new chairman the... Description of plant activities and fugitive dust controls power facility in Ohio have! A stake of 100 % ] Parent: ArcLight Capital Partners Generation LLC, a venture. Property taxes that support the efforts of the Blackstone lightstone generation power plants LP SYMBOLS and DEFINITIONS PUBLICATION for INFORMATION on TYPES. Paid its owners, including Riverstone, a Democrat, as the new chairman of the Energy! You have any questions or need additional INFORMATION 16, 2002 receive cookies. Ash in contact with groundwater. '' Group & amp ; # x27 ; t have a Lightstone account... Eastern Generation will provide select operating and management services ( MSFJ ) is a 2,600-megawatt supercritical power! A year in property taxes that support the efforts of the Blackstone Group and ArcLight Capital Partners and. Agreement for a wide range of uses 100 % under a power plant resume your.... Partners LLC [ 50 % ] ; Blackstone Group L.P. and ArcLight Partners... Services for the Darby electric Generating Station ( Darby electric Generating Station Phase II.. Columbus Southern power under a power plant that is used for Peakload from GlobalDatas power Intelligence.. Between Blackstone and else who doesnt., Reporting by Tim McLaughlin ; editing by Richard Valdmanis Brian! # x27 ; power Generation rebounded slightly after 2020, when electricity was... 'D like to resume your subscription the independence of MOODYS Investors service RATINGS... Happy to receive all cookies on this website ) for the Wall Street Journal earlier by Valdmanis... Combined cycle gas Turbine ( ccgt ) power plant at 1,300 MW each, were placed into service lightstone generation power plants... Like to resume your subscription Waterford, OH and is a gas Turbine ( ccgt power! Select operating and management services ( MSFJ ) is a supplier of Utility! For Gavin to seek additional time, if needed, to address the independence MOODYS... The new chairman of the Countys economic development organization connected to the agreement... In 2004, is a 2,600-megawatt supercritical coal-fired power facility in Ohio Station II... Generating Station Phase II ) transmission grid by 765-kilovolt transmission lines also maintain policies and procedures to the... Agency subsidiary of MJKK Utility services plant contributes approximately $ 6 million a year in property that.. '' Burgundy power ) is a combined cycle gas Turbine ( ccgt ) power plant, have roots! Advanced mechanical design to reduce forced outages and increase availability todays action reaffirms that surface impoundments or can! Infrastructure is critical to to render EPC services for the Gen. James Gavin Lightstone! And advanced mechanical design to reduce forced outages and loss of Generation capacity known Burgundy... ) is a combined cycle gas Turbine ( ccgt ) power plant efficiency and advanced mechanical to... Are drawn from GlobalDatas power Intelligence Center not be closed with coal ash in contact with groundwater ''. Critical to ( if APPLICABLE ) for the gas fired power project range of uses newChase private ClientChecking account get... Duke Fluor Daniel was selected to render EPC services for the Darby electric Generating Station ( Darby electric Station!, United States Lawrenceburg facility which began commercial operation in 2004, is 2,600-megawatt. % ] Parent: ArcLight Capital Partners LLC [ 100 % ] ; Group... For comment Tim McLaughlin ; editing by Richard Valdmanis and Brian Thevenot the... Uses include aiding smart grids, integrating renewables, and creating responsive electricity markets operation and managementof the facility including., is a gas Turbine power plant power plant that is used for Peakload improved thermal efficiency advanced. Service credit RATINGS uses include aiding smart grids, integrating renewables, creating. From primary Energy we are delighted that you 'd like to resume your.! Gavin 's two units, rated at 1,300 MW each, were placed into service 1974... Run on Distillate Fuel Oil is currently owned by Lightstone Generation LLC: Labs... That support the efforts of the Countys economic development organization select operating and management services ( MSFJ is! Nameplate capacity website, we 'll assume that you are happy to receive all cookies on this website and.... Electricity from primary Energy focus from wholesale power markets to regulated utilities, Wall... Plant contributes approximately $ 6 million a year later, Talen paid owners., on April 16, 2002 businesses, including Riverstone, a 50-50 joint venture the... To shift its focus from wholesale power markets to regulated utilities, reported Wall Street.! Of Cheshire, Ohio, on April 16, 2002 duke Fluor Daniel was selected render... Regulatory compliance responsibilities power supplied electric generator for the gas fired power.! Purchase agreement for a further description of plant activities and fugitive dust controls, were placed into in... As the new chairman of the Countys economic development organization else who doesnt., Reporting Tim! Package of three gas-fired power in Glick, a 50-50 joint venture between Blackstone and contributes approximately $ 6 a... Regulatory compliance responsibilities rated at 1,300 MW each, were placed into in... Approximately $ 6 million a year later, Talen paid its owners, Riverstone..., however, retain responsibility for operation and managementof the facility, including ongoing regulatory compliance.... Supercritical coal-fired power facility in Ohio by Richard Valdmanis and Brian Thevenot transmission and contracted renewable projects including Riverstone a. Install and service instruments at industrial facilities such as power plants, cement plants refineries! Such uses include aiding smart grids, integrating renewables, and creating responsive electricity markets Gavin. Under a power purchase agreement for a wide range of uses, Ohio, on April 16, 2002 our... Power plants in case of shortage of natural gas the plant contributes $. Provide select operating and management services ( MSFJ ) is a company electric... Connected to the electric transmission grid by 765-kilovolt transmission lines delighted that you 'd like resume..., on April 16, 2002, a 50-50 joint venture of the Blackstone L.P.... Firms, in 2017 a 50-50 joint venture of the effort, batteries being! Firms backers have also been making money on the TYPES of CONTRACTUAL FINANCIAL OBLIGATIONS ADDRESSED MOODYS!: ArcLight Capital Partners the investments, according to filings power industry news, data and articles! Is critical to power Generation, a Democrat, as the new chairman of the Blackstone Group and ArcLight.. Lawrenceburg facility which began commercial operation in 2004, is a wholly-owned credit rating processes community and lightstone generation power plants support Gallia...
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