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Re: fsulevine post# 40708

Thursday, 09/30/2021 5:48:09 PM

Thursday, September 30, 2021 5:48:09 PM

Post# of 60413
Dominion sold to reduce debt levels. So, what makes FCEL any different form Dominion over time? The cost of cash flow should be around 5 to max 7 years then they should have debt paid off and own it 100%. So, is this what FCEL is business model is saying?

Dominion Embarks on Clean Energy Drive

The deal, expected to close on or before December 31, marks another divestment by Dominion Energy.

(in cash in an effort to “reduce parent-level debt) this stand out as the primary purpose of Dominion's exit.

The company recently announced agreements to sell three merchant plants—a total 1.8 GW—to generate $1.3 billion in cash in an effort to “reduce parent-level debt.” These include the Fairless combined cycle gas turbine (CCGT) project in Pennsylvania, the Manchester CCGT in Rhode Island, and the Catalyst hydro plant in Louisiana. “Given our increased strategic focus on regulated energy infrastructure, these assets have become increasingly non-core,” said Dominion Chief Financial Officer James Chapman as the company announced its 2018 third-quarter results on November 1.

Earlier this week, Dominion also said it has executed a definitive agreement to divest its 50% interest in the Blue Racer Midstream joint venture, a company that provides Utica Shale gas for midstream services to First Reserve, a private equity investment firm. The company is meanwhile pushing ahead with an effort to merge with SCANA Corp., a company it offered to buy after it abandoned construction of two AP1000 units in South Carolina. North Carolina regulators are expected to approve the deal by December, but in South Carolina, hearings on a number of related matters continue, and Dominion recently submitted an alternative customer benefit plan as an option for the Public Service Commission to consider. Dominion, however, is “optimistic” that the merger will close late this year.

On November 2, meanwhile, Dominion said it is swiftly moving toward its renewable energy goal of having 3 GW of renewables in operation or under development by 2022. The company is seeking bids for up to 500 MW of solar and onshore wind, and requesting approval for 240 MW of solar generation. At the same time, it’s continuing an effort to build two 6-MW wind turbines off the coast of Virginia Beach, and is planning a request for proposals for up to 50 MW of smaller-scale solar projects in 2019.
—Sonal Patel is a POWER associate editor (@sonalcpatel, @POWERmagazine)

https://www.powermag.com/dominion-sells-14-9-mw-bridgeport-fuel-cell-facility/
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