Category Archives: Energy

 Significant long-term savings expected for customers

- Station would replace output from coal units scheduled to be retired, meet new demand

- Economic benefits include more than 600 construction jobs, 30 permanent positions

RICHMOND, Va., Feb. 28, 2012 /PRNewswire/ — Dominion Virginia Power announced today that it proposes to invest more than $1 billion to build a combined-cycle, natural gas-fired power station inBrunswick County.

Dominion expects to ask the Virginia State Corporation Commission later this year for permission to build the Brunswick County Power Station. With a generating capacity of more than 1,300 megawatts, the station would be completed by the summer of 2016. The station would produce enough electricity to power more than 325,000 homes.

Output from the Brunswick County facility would replace the electricity generated by coal units at two eastern Virginia stations that are planned to be retired and would help meet customers’ growing demand for electricity.

“The Brunswick County site offers us an ideal location to generate electricity to serve Southside Virginiaand Hampton Roads reliably and will help us close the gap of 4,000 megawatts in additional peak demand that our customers are expected to need within the next decade,” said Thomas F. Farrell II, chairman, president and chief executive officer for Dominion, the parent company of Virginia’s largest electric utility.

“We expect this new power station to operate very efficiently and reduce the amount of power that we have to import from outside the Commonwealth. Building this station also is the best, most cost-effective and reliable way to meet the latest federal clean-air standards,” Farrell said.

“The proposed Brunswick County Power Station has the potential to be the largest single economic development project in the history of Brunswick County,” said Virginia Gov. Bob McDonnell. “The station will create good paying jobs for local residents, both during construction and after. And it will generate cleaner energy to help meet the increasing demands of our growing Commonwealth in the years ahead. This is a positive announcement for the economy of Southern Virginia, and for the energy needs of the entire state.”

Dominion announced last September that it would likely retire several coal-fired units at its Chesapeake Energy Center in Chesapeake and Yorktown Power Station by 2016. It is more cost-effective to close the units than install environmental control equipment necessary to meet new federal environmental regulations. The switch from coal to natural gas with the Brunswick County station would result in a net environmental benefit for the Commonwealth.

PJM Interconnection LLC, the regional transmission organization that coordinates the movement of wholesale electricity in all or parts of 13 states, including Virginia and the District of Columbia, reported in its annual forecast that customers will need 4,000 megawatts more of electricity from Dominion during peak demand in 2022 than it does today.

If approved by state regulators, Brunswick County Power Station would be built on a 205-acre site on U.S. Route 58 east of Lawrenceville. At least 600 workers would be on site during construction. The station would provide about 30 full-time jobs and pay annual property taxes of between $3.5 million to $4 millionwhen operational.

Dominion already has received the necessary conditional use permits from the Brunswick County Board of Supervisors to build the station and has applied to the Virginia Department of Environmental Quality for the air permit.

Dominion (NYSE: D) is one of the nation’s largest producers and transporters of energy, with a portfolio of approximately 28,000 megawatts of generation, 11,000 miles of natural gas transmission, gathering and storage pipeline and 6,300 miles of electric transmission lines.  Dominion operates the nation’s largest natural gas storage system with 947 billion cubic feet of storage capacity and serves retail energy customers in 15 states. For more information about Dominion, visit the company’s website atwww.dom.com

http://www.dom.com/news/social-media.jsp

SOURCE Dominion Virginia Power

 Reporters and editors: To keep abreast of the latest company news, sign up to receive Dominion’s news releases as soon as they are distributed to the media. If you’re interested, go to: http://dom.mediaroom.com/index.php?s=42. There, you can choose to receive all news releases, or specify an area in which you have a particular interest – corporate and financial news; electric news, or gas news. After completing the form, you will receive an initial e-mail to which you must reply in order to confirm your subscription.

CONTACT: Media: Dan Genest, +1-804-771-6115, dan.genest@dom.com, Analysts: Corynne Arnett, +1-804-819-2384, corynne.arnett@dom.com

DENVER, Feb. 27, 2012 /PRNewswire/ – Platte River Ventures (“PRV”) announced today that it has invested in TPG Mt. Vernon Marine, LLC (“TPG” or the “Company”) in partnership with incumbent management of the Company.  Headquartered in Indianapolis, Indiana, TPG is a harbor services business operating on the Ohio and Green Rivers.  TPG’s services include barge shifting, fleeting and towing; barge repair; barge cleaning; stevedoring and fueling.  The Company’s customer base consists of marine transportation companies, coal and grain terminals and commodity owners moving product on U.S. inland waterways.

“We are excited about our new partnership with Platte River Ventures,” said Dan Altman, CEO of TPG.  “The additional capital along with significant operating and financial experience of PRV’s principals will enable us to continue to execute on our growth strategy.”

Platte River Ventures Managing Director Peter Calamari said, “We are pleased to partner with management in the recapitalization of TPG.  The Company has earned a reputation as a premier provider in its markets, and TPG management has deep relationships throughout the industry.  We are looking forward to working with TPG to leverage the Company’s experience, reputation and relationships to grow through both organic growth and strategic acquisitions.”

Bartlit Beck Herman Palenchar & Scott LLP served as legal counsel to Platte River Ventures.  Taft Stettinius & Hollister LLP served as legal counsel for the Company.

About TPG Mt. Vernon Marine, LLC
Headquartered in Indianapolis, Indiana, TPG operates at Mt. Vernon, IN, Jeffersonville, IN, and Uniontown, KY, on the Ohio River and near Henderson, KY, on the Green River.  The Company owns or leases eleven vessels and a full-size dry dock which enables it to provide high quality harbor services.  The company has grown from one to four locations over the past five years.

About Platte River Ventures
Based in Denver, Colorado, Platte River Ventures is a private equity firm focused on investments in lower middle market operating companies with enterprise values generally between $20 million and $250 million, as well as strategic add-on investments.  The firm focuses on investing in the aerospace and transportation; energy and industrial services; and chemicals, metals and industrial minerals sectors.  Platte River Ventures currently manages funds with committed capital in excess of $300 million.  Please visit www.platteriverventures.com.

SOURCE Platte River Ventures

CONTACT: CONTACT: Michelle Eidson, Vice President of Business Development and Marketing of Platte River Ventures, +1-303-292-7308, meidson@platteriverventures.com

PHOENIX, Feb. 22, 2012 /PRNewswire/ – Phoenix Sky Harbor International Airport and SunPower Corp. (Nasdaq: SPWR) are dedicating today a 5.4-megawatt high efficiency SunPower solar power system. The system is expected to generate the equivalent of 51 percent of the electricity demand at the airport’s rental car center, two East Economy parking garages and toll plaza, saving $4.7 million over the next 20 years.

“With this SunPower system, Sky Harbor Airport is reinforcing its commitment to energy conservation and improving air quality in Arizona, while saving airport funds,” said Phoenix Mayor Greg Stanton. “Councilman Bill Gates has been championing this effort at the city and it’s exciting to see it come to fruition.”

“This SunPower system will reliably produce clean energy for years to come,” said SunPower Director, Western Project Sales, Rick Whisman. “SunPower’s technology will ensure that the system delivers energy over the long term, reducing operational expenses significantly with no upfront expenditure.”

The project was facilitated in part by Arizona Public Service Company’s (APS) Renewable Energy Incentive Program, which offers financial incentives to customers that help to offset up to 40 percent of the costs of installing solar energy.

The airport has a solar services agreement with SunPower, which designed and built the system, and is operating and maintaining it. The airport is hosting the system and buying electricity at rates that are competitive with retail electricity, providing a hedge against rising electricity costs with no capital investment. The renewable energy credits (RECs) associated with the energy produced by the system will be transferred to APS in fulfillment of the state’s renewable energy standard and tariff.

At the airport, SunPower installed SunPower E20 solar panels, the most efficient solar panels on the market today, at three rooftop locations: the Rental Car Center and two buildings that comprise the East Economy Garages. System construction was completed in two months at the end of 2011.

According to estimates provided by the U.S. Environmental Protection Agency, the system is expected to offset the production of more than 5500 tons of carbon dioxide per year, which is equivalent to removing 19,800 cars from Arizona’s roads over the next 20 years.

About Phoenix Sky Harbor International Airport

Solar energy is only part of Sky Harbor’s dedication to being green. The new Phoenix Sky Train, for example, will reduce roadway congestion and pollution and is expected to achieve a Silver rated LEED (Leadership in Energy & Environmental Design) certification. It is one of the first projects of its kind to receive this certification. Stage 1 of the project is expected to reduce greenhouse gas emissions by 5,913 tons per year, and more than 50 percent of all construction demolition waste will be recycled or salvaged. The Phoenix Sky Train is expected to save the Phoenix Aviation Department over $10 million dollars in the first 20 years of operation.

About SunPower

SunPower Corp. (NASDAQ: SPWR) designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today. Residential, business, government and utility customers rely on the company’s quarter century of experience and guaranteed performance to provide maximum return on investment throughout the life of the solar system. Headquartered in San Jose, Calif., SunPower has offices in North America, Europe, Australia and Asia. For more information, visitwww.sunpowercorp.com.

SOURCE SunPower Corp.

JACKSON, Mich., Feb. 21, 2012 /Coal Geology/ – Consumers Energy awarded more than $100,000 to 42 Michigan communities through its 2011 Community Tree Planting Grant Program.

The utility sponsors the program annually to encourage responsible tree planting and sustainable urban forests in communities across the state.

Each year, the Michigan Forest and Park Association reviews applications and forwards its grant recommendations to Consumers Energy.

A tree planting project must meet criteria to reduce conflicts between trees and overhead lines to be eligible for a grant. Consumers Energy provides prospective communities a guide titled “Right Tree Right Place,” a concept developed by the National Arbor Day Foundation, which shows how to choose appropriate tree species and suitable sites in community locations near electric lines.

Once a project is approved and planting is completed, a Consumers Energy forester inspects it to verify the tree species and locations. A participating community may receive a grant check of up to $3,050.

The grants aided in the planting of almost 1,100 trees in 2011.

Community Tree Planting grants were awarded to:

Alabaster Township $3,050
City of Alma $3,000
City of Au Gres $2,500
Village of Augusta $3,000
Village of Bellaire $3,000
Blair Township $3,000
Village of Blissfield $2,200
Village of Breckenridge $3,000
Village of Caledonia $3,000
Village of Cedar Springs $1,800
City of Charlotte $200
City of Cheboygan $3000
City of Davison $3,000
City of East Tawas $3,000
Village of Elberta $1,000
Village of Empire $260
City of Frankenmuth $2,250
City of Greenville $1,200
Village of Hubbardston $800
City of Hudson $3,000
City of Jackson $3,050
City of Kentwood $2,860
Village of Kingsley $700
Village of Lake Odessa $3,000
Village of Lyons $3,000
City of Mason $2,700
City of Morenci $3,000
Village of Muir $3,000
Village of Nashville $3,000
City of Omer $2,600
City of Owosso $3,000
Peninsula Township $2,945
City of Potterville $3,000
Village of Richland $1,500
City of Roosevelt Park $2,000
City of St. Johns $2,000
Village of Sparta $2,500
Village of Spring Lake $3,000
Suttons Bay Township $3,000
Village of Suttons Bay $1,500
City of Tawas City $3,000
City of Wyoming $3,000

Consumers Energy, the principal subsidiary of CMS Energy, provides natural gas and electricity to 6.8 million of Michigan’s 10 million residents in all 68 Lower Peninsula counties.

For more information regarding Consumers Energy, access our website at:www.consumersenergy.com/forestry

 

SOURCE Consumers Energy

CONTACT: Media Contacts: Jon Hall, +1-517-374-2372

Web Site: http://www.consumersenergy.com