The sale includes 5,200 megawatts of generation" (Lawrenceburg, Waterford, Darby, Gavin) To suggest a location change, you can drag the marker above. U.S. coal plants produce about 100 million tons (90 million metric tons) annually of ash and other waste. The Gallia County Economic Development Office is here to assist your company with its next business expansion including site and building selection, grant and tax incentives, labor force statistics, and other community information. 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. Sign up to Stock Advisor for $79 for 1 year, All Jeans + Pants 25% off! John Cockerill Group supplied steam boiler for the project. MSFJ is not a Nationally Recognized Statistical Rating Organization (NRSRO). Already a member? What are you looking for? In addition, power prices and generation could strengthen when COVID-19 related regional lock-down measures subside. But in April 2020, Longview filed for bankruptcy protection again, wiping out some $350 million in debt, as coronavirus lockdowns cut electricity demand. This is the only Indiana plant in a package of three gas-fired power plants and one coal-fired plant . MOODY'S adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources MOODY'S considers to be reliable including, when appropriate, independent third-party sources. 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 . The EPA order directs the power plant to stop placing coal ash and other waste streams into an on-site storage pond no later than 135 days after publication in the Federal Register, expected next week. General James M. Gavin Power Plant, originally owned by American Electric Power and sold to Lightstone Generation LLC in 2017, is in Cheshire, Ohio along the Ohio River in Galla County. 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 joint venture of Blackstone (NYSE: BX) and an affiliate of ArcLight Capital Partners LLC (ArcLight), for approximately $2.1 billion. The project is currently active. learning and cutting edge science to develop novel drugs for patients with hard-to-treat diseases by harnessing the power of naturally protective antibodies and the adaptive immune system . Find Matching SIC Codes for power-generation, With Definition and Examples. All power projects included in this report are drawn from GlobalDatas Power Intelligence Center. The sale includes 5,200 megawatts of generation all located in the region served by the PJM Interconnection: AEP will net approximately $1.2 billion in cash after taxes, repayment of debt associated with these assets and transaction fees. EPA said Friday that its decision recognizes the importance of maintaining grid reliability. Waterford Energy Center, 840 MW natural gas. Buy Business List - SIC 1629. Strategic Business Manager. Welcome to Gallia County, OH and we look forward to working with you. 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. AEP completed the sale of the plants to Lightstone Generation LLC, a joint venture of Blackstone and an affiliate of ArcLight Capital Partners LLC, for about $2.1 billion. On the Ground, Its More Complicated. The power plant is connected to the electric transmission grid by 765-kilovolt transmission lines. The company was formed as a joint venture of The Blackstone Group and ArcLight Capital Partners. JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 2021 Moodys Corporation, Moodys Investors Service, Inc., Moodys Analytics, Inc. and/or their licensors and affiliates (collectively, MOODYS). From 2018 to 2020, Lightstone's power plant operations produced about $1.1 billion in operating profit, according to estimates from Moody's Investors Service. 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 primary fuel being used to power the plant is natural gas. Power industry news, data and in-depth articles on the global trends driving power generation, renewables and innovation, Industrial solutions for power generation, Scotlands hydrogen strategy: Building a green energy economy, Projects, pipelines and power: around the worlds tidal projects, Fusion, fission, and futureproofing UK nuclear, Ocean power: a running tide for renewables in Asia, Masdar to develop renewable energy projects in Azerbaijan, Iberdrola sells stake in Spanish renewable portfolio to NBIM, Power Capital Renewable Energy secures funding for solar assets, UK government sets out plan for smart electric vehicle charging, TenneT selects Hitachi Energy and Petrofac for HVDC projects, UK to collaborate with Saudi Arabia on diversifying critical minerals, Whos acquiring who? 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. The fuel is procured from Columbia Gas Transmission. Lightstone Generation operates one of the countrys largest coal-fired power generating units in Cheshire, OH. FILE- A tower for the Gen. James Gavin power plant is seen in Cheshire, Ohio, on April 16, 2002. SIC Codes SIC Code . $1,773 million outstanding as of 9/30/20), a $100 million term loan C for cash collateralized letters of credit due in 2024, and a $100 million revolving credit facility due in 2022. environmentally conscientious and efficient operation of Gavin Plant a 2600MW power plant in Ohio. The power plant run on dual-fuel. American Municipal Power, Inc., Bowling Green Generating Station (Bowling Green, OH) In a major action to address toxic wastewater from coal-fired power plants, the Environmental . It is owned by Lightstone Generation LLC, a 50-50 joint venture of The Blackstone Group and ArcLight Capital Partners. 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. 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. These include selective catalytic reduction units that reduce nitrogen oxide (.mw-parser-output .template-chem2-su{display:inline-block;font-size:80%;line-height:1;vertical-align:-0.35em}.mw-parser-output .template-chem2-su>span{display:block;text-align:left}.mw-parser-output sub.template-chem2-sub{font-size:80%;vertical-align:-0.35em}.mw-parser-output sup.template-chem2-sup{font-size:80%;vertical-align:0.65em}NOx) emissions by 82%; flue-gas desulfurization (FGD) units (scrubbers) that remove 94% of sulfur dioxide (SO2) emissions and electrostatic precipitators for particulate control. CAMS currently manages over 30 power plant facilities . The total deal came to around $20 million. 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. 3491 - Industrial Valves. EPA's denial was based both on multiple violations of coal ash rules at Gavin and Lightstone's failure to demonstrate that its plan for replacing the unlined ponds was as fast as technically . Lightstone understands that diversity of thought drives growth and greater collaboration, develops stronger partnerships, and creates superior solutions. Biden has named Richard Glick, a Democrat, as the new chairman of the Federal Energy Regulatory Commission. Private-equity owned coal plants can pay their staff about $100,000 a year for keeping the facilities on standby and firing them up when needed, according to Shawn Steffee, business agent for the Boilermakers Local 154 union in Pennsylvania. 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 . Cheshire, OH. Ohio Lumex. The Gavin Power Plant is located on the shore of the Ohio River at Cheshire, Ohio, and consists of two electric generating units. Im confident, in the next couple of years, FERC will order changes, said Ari Peskoe, director of the Electricity Law Initiative at Harvard Law School. (812) 532-2301. 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, Babcock & Wilcox Power Generation Group Acquires MEGTEC Systems, General Electric to Acquire Metem Corporation, 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%. A spokesperson for the plant's owner, Lightstone Generation LLC, could not be reached for comment. Lightstone Generation LLC. 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. 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. Power plant construction - general contractors, See Companies for SIC 1629. Industrial Construction was selected to render EPC services for the gas fired power project. It can pollute waterways, poison wildlife and cause respiratory illness among those living near massive ponds where the waste is stored. You can help Wikipedia by expanding it. The plant is Gallia County's largest taxpayer and makes annual contributions of more than $50,000 to local charities and non-profits[citation needed]. $75,000 - $85,000 a year. 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. The private equity firms backers have also been making money on the investments, according to filings. As leader of the . The largest of the four plants is Gavin, a 2,721 MW supercritical, pulverized coal-fired generating station located in Ohio. Private equity activity related to environmental sustainability decreased by 7% in the power industry in Q3 2022, Whos innovating where? FTC Plan to Ban Noncompete Clauses Shifts Companies Focus, Greta Thunberg Detained by Police in Germany During Mine Protest, Bonds Over Stocks: The New 60-40 Portfolio, Rebellion Against Higher Prices Helps Slow Inflation, Deal Slump Dents Profits at Goldman Sachs, Morgan Stanley, Opinion: The Hard Reality of a Debt-Ceiling Showdown, Opinion: Ph.D. Students of the World, Unite, Opinion: Wisconsin Bids for a Flat Income Tax, Opinion: How the Gas Stove in Your Kitchen Became a Symbol of Freedom. All quotes delayed a minimum of 15 minutes. 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