News Highlights from the Electric Power Industry.
DETROIT (AP) — General Motors is forming a joint venture with Posco Chemical of South Korea to build a North American battery materials plant as it brings more steps in the electric vehicle supply chain under its umbrella.
The Detroit automaker said Wednesday that details of the venture are still being worked out, including investment amounts and the plant location. GM said the factory will supply materials to make cathodes, the energy center of a battery that amounts to 40% of the cost. Read more >>
ALBUQUERQUE, N.M. (AP) — A panel of New Mexico regulators on Wednesday rejected global energy giant Iberdrola’s proposed multibillion-dollar acquisition of the state’s largest electric provider, saying the deal did not offer adequate protections for customers and the risks outweighed the promised benefits.
The Public Regulation Commission voted unanimously to accept the recommendation of a hearing examiner to deny the merger. >> Read more
The DOE loan office’s revival comes as the Biden administration aims to set the U.S. on a path to getting emissions-free electricity by 2035. The office helps finance innovative energy projects, but has been little used in the last decade.
Since it was started, the office has issued about $35 billion in loans and loan guarantees to companies like Tesla, NRG Energy and Solyndra, a solar company that went bankrupt, hurting the loan program’s reputation. >> Read more
New England faces a precarious fuel supply risk that could necessitate emergency actions if a severe prolonged cold snap hits the region this winter, ISO New England (ISO-NE) has warned. >> Read more
Salt River Project (SRP) has placed in service a 25-megawatt (MW) battery storage facility at its Bolster Substation, which is adjacent to its Agua Fria Generating Station, located in Peoria, Arizona. >> Read more