PSE&G to sell solar subsidiary to LS Power affiliate May 5, 2021
9:39 am
Public Service Enterprise Group Inc. will sell its PSEG Solar Source LLC portfolio to Quattro Solar LLC, an affiliate of LS Power. The agreement, announced May 5, includes the 467-megawatt-dc Solar Source portfolio of 25 solar facilities in various states and related assets and liabilities.
The sale is part of PSEG’s Strategic Alternatives process to explore options for PSEG Power’s non-nuclear generating fleet which, in addition to Solar Source, includes more than 6,750 megawatts of fossil generation.
Izzo
“This sale marks a key milestone in our Strategic Alternatives process as we continue our transformation into a primarily regulated utility. We also intend to continue our efforts to preserve our existing carbon-free nuclear fleet and to seek regional growth opportunities in offshore wind projects that fit with PSEG’s Powering Progress strategy,” PSEG Chief Executive Officer Ralph Izzo said
PSEG Enters Agreement to Sell Its Solar Source Portfolio to Affiliate of LS Power
Transaction Furthers PSEG Strategic Alternatives Transformation
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NEWARK, N.J., May 5, 2021 /PRNewswire/ Public Service Enterprise Group Inc. (PSEG) today announced that it has entered into an agreement to sell its PSEG Solar Source LLC portfolio to Quattro Solar, LLC, an affiliate of LS Power. The sale includes the 467-megawatt-dc Solar Source portfolio of 25 solar facilities located in various states and related assets and liabilities. The sale of this non-core generation portfolio is part of PSEG s Strategic Alternatives process to explore options for PSEG Power s non-nuclear generating fleet which, in addition to Solar Source, includes more than 6,750 megawatts of fossil generation.
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Governor Inslee signed into law an all-new Washington Nonprofit Corporation Act (New Act). The New Act will completely replace the current Washington Nonprofit Corporation Act, which has seen only minor updates since its adoption in 1967.
Nearly all of the New Act s provisions will take effect
January 1, 2022.
While the New Act makes changes to many different aspects of Washington nonprofit corporate law, it makes major, overarching changes in three areas:
Modernization: Many provisions of the current Act are out-of-date or do not reflect currently recommended practices in nonprofit governance. The New Act modernizes those provisions.
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DGAP-Ad-hoc: Continental AG / Key word(s): Preliminary Results/Quarter Results
Continental announces preliminary key data for the first quarter of 2021
23-Apr-2021 / 12:20 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The financial results of Continental AG in the first quarter of fiscal 2021 are above current average analyst expectations. Based on preliminary data, key financial results of the first quarter of fiscal 2021 are as follows:
Consolidated sales of the Continental Group were €10.259 billion (Q1 2020: €9.913 billion) and the adjusted EBIT margin was 8.1%. Due to the intended spin-off of Powertrain Technologies, IFRS 5 Non-current Assets Held for Sale and Discontinued Operations has been applied. Due to this application, depreciation ceased for discontinued operations starting M