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Kinder Morgan has agreed to acquire a Consolidated Edison-Crestwood JV.
Kinder Morgan, Inc. (NYSE: KMI) reported Tuesday that it has agreed to acquire Stagecoach Gas Services LLC for a purchase price of $1.225 billion.
A joint venture between Consolidated Edison, Inc. (NYSE: ED) and Crestwood Energy Partners LP (NYSE: CEQP), Stagecoach comprises four natural gas storage facilities and three pipelines serving U.S. Northeast market demand and Marcellus supply, Kinder Morgan noted in a written statement.
“Acquiring Stagecoach will enhance our service to customers in this part of the country,” remarked Kimberly S. Watson, president of KMI’s Interstate Natural Gas Pipelines unit. “These natural gas pipeline and storage facilities help connect natural gas supply sources and Northeast demand areas.”
BP (NYSE: BP) has reached an agreement to purchase nine gigawatts of solar development projects in the U.S. from 7X Energy.
BP (NYSE: BP) revealed that it has reached an agreement to purchase nine gigawatts (GW) of solar development projects in the U.S. from 7X Energy.
BP, which expects the deal to complete in 30 days, said it will pay 7X Energy $220 million for the projects and 1GW of “safe harbor” equipment. The projects are spread across 12 U.S. states, with the largest portfolios in Texas and the Midwest.
Assets with a combined generating capacity of 2.2GW are expected to reach final investment decision by 2025, with the remaining progressing by 2030. The projects, which will be developed through BP’s 50-50 solar joint venture Lightsource BP, are expected to support thousands of jobs through construction.