Deals this week: FirstEnergy Generation, NKT, Nexans

23 November 2018 (Last Updated November 23rd, 2018 12:11)

FirstEnergy Group (FG) has signed a deal with Vermillion Power to acquire the 545MW West Lorain facility for $114m, to be paid in cash and customary closing adjustments.

FirstEnergy Group (FG) has signed a deal with Vermillion Power to acquire the 545MW West Lorain facility for $114m, to be paid in cash and customary closing adjustments.

The asset sale follows the bankruptcy petition filed by FirstEnergy Solutions in March. The transaction will be made in compliance with a bankruptcy auction process supervised by the court.

Based in the US, FirstEnergy Group is an electric utility, while Vermillion Power is engaged in energy generation.

NKT, in a consortium with Boskalis Subsea Cables & Flexibles, has signed a pre-construction agreement (PCA) with Inch Cape Offshore Wind Farm Ltd for delivering and installing an export cable system for the Inch Cape wind farm in the North Sea.

NKT will supply 170km of 220kV AC export cables between 2022-23 as part of the agreement, while Boskalis will be responsible for the cable installation.

Based in Denmark, NKT is engaged in supplying high-end cables and cable solutions, while Netherlands-based Boskalis Subsea Cables & Flexibles specialises in balance-of-plant operations, installation of subsea power cables, subsea engineering and installation (SURF) and interconnectors.

Inch Cape Offshore Wind Farm Ltd is a subsidiary of Scottish electric utility Red Rock Power.

Nexans has secured a €150m ($171m) export cable system supply contract from Orsted for the 1.4GW Hornsea Two project in the UK.

“Nexans will supply more than 200km of 245kV cross-linked polyethene-insulated nearshore export cable system.”

Nexans will supply more than 200km of 245kV cross-linked polyethene-insulated nearshore export cable system.

Nexans is engaged in the manufacture of cabling equipment, while Orsted is engaged in wind projects development.

Chiyoda Corporation has awarded a contract to Mitsubishi Electric for supplying the BLEnDer RE energy-management system for installation at the Kita-Toyotomi substation at Hokkaido in Japan.

The BLEnDer RE energy management system will monitor and control battery and power conditioners of the energy-storage system at Kita-Toyotomi substation.

North Hokkaido Wind Energy Transmission Company, the substation owner, has engaged Chiyoda for executing the design, engineering and construction of the grid reinforcement pilot project for wind turbines.

Mitsubishi Electric is engaged in manufacturing electronics and electrical equipment, while Chiyoda Corporation is a global engineering company specialised in oil and gas midstream.

Simec Atlantis Energy has signed a Heads of Terms agreement with Equitix to divest a 25% stake in the 220MW Uskmouth conversion project for £32.9m ($42m) in cash.

Equitix will also contribute 25% of the remaining budgeted development costs to achieve financial closure of the project through third-party debt financing.

Simec Atlantis is engaged in diversified sustainable energy generation, while Equitix is an infrastructure fund manager.