Monday, February 18, 2019

Company News

Vistra to Expand Retail Business with Crius Acquisition

Vistra Energy has entered into an agreement to acquire Crius Energy Trust for about $328 million, the company announced Thursday.

With the acquisition, Vistra would serve 19 states and D.C. in the electricity and natural gas product market for residential and small business customers. Crius’ assets are expected to complement Vistra’s generation fleet — adding about 11.6 TWh of load — and existing municipal aggregation and large commercial and industrial portfolio in the Midwest and Northeast markets, according to Vistra.

The transaction has already been approved by Crius’ board of directors. It is still subject to approval of at least two-thirds of Crius’ unitholders, in addition to regulatory approvals.

More: Dallas Business Journal

Ørsted to Sell 50% of US Offshore Wind Assets to Eversource

Ørsted is selling a 50% stake in a portfolio of offshore wind assets to its partner Eversource Energy for about $225 million.

The company is divesting 50% of the 704-MW Revolution Wind and the 130-MW South Fork projects, as well as interests in two undeveloped New England lease areas that can potentially add more than 1 GW of offshore wind capacity. The undeveloped sites are known as Massachusetts North and Massachusetts South.

More: Renewables Now

CEO: GM’s EVs Won’t be Profitable for a Few More Years

General Motors does not expect its electric vehicles to turn a profit for at least a few more years, CEO Mary Barra told investors Wednesday.

The company repeated its commitment to make its entire vehicle lineup “all-electric,” but it provided investors with few details about those plans on a conference call after it reported its fourth-quarter earnings for last year.

Barra also demurred when asked when customers can expect to see an electric pickup truck from GM, saying simply that the company is “committed to an all-electric future” and to “stay tuned” for more news.

More: CNBC

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