Tag Archives: constellation energy

Constellation Energy (CEG) To Build 70MW Wind Farm In Maryland

Constellation Energy jut announced that it has finished acquiring the Criterion wind project in Maryland from Clipper Windpower, Inc.  Constellation Energy will build, develop, own and operate the 70 MW wind farm. Power and renewable energy credits produced will be purchased by Old Dominion Electric Cooperative under a 20-year power purchase agreement after the wind farm is up and running, which is scheduled to happen by the end of the year.

In a press release,Read the rest

Constellation Energy (CEG) Commits $90 Million To Commercial Solar Projects

Constellation Energy (CEG) announced today that it will commit $90 million to the development of commercial solar projects.  In order to capitalize on the benefits of government funding Constellation will only fund project that begin before mid 2010 and are at least 500kW.  About $18 million in funds have been committed to projects that will begin development soon in Maryland and New Jersey. 

Michael Smith, VP of Green Initiatives For CEG, said, “Constellation Energy’s … Read the rest

Constellation Energy (CEG) Chosen To Develop 15.9MW/DC PV Project In Maryland

Constellation Energy just announced that it has been chosen to develop a 15.9MW/DC solar PV project in Maryland under the Generating Clean Horizons Initiative. This project is part of a larger 17.1 MW DC project, which will be built operated and owned by Constellation Energy. When it’s completed in 2012, the installation will be the largest in Maryland. Energy from the installation will be purchased by the state under a 20-year purchase agreement.

In a … Read the rest

Constellation Energy (CEG) Gets Regulator’s Approval For Deal With Electricité de France

Constellation Energy has received the approval of the New York State Public Service Commission to sell  the three New York nuclear plants owned by Constellation Nuclear to Electricité de France SA. The sale is part of a $4.5 billion deal between Constellation and EDF that was announced in December.

Here’s an excerpt of the statement released by the NYS Public Service Commission in reference to the sale of the nuclear plants:

The acquisition is expected … Read the rest

Constellation Energy (CEG) Completes McCormick Spice Mill Installation

Constellation Energy just completed a 1 MW solar power installation at the McCormick Spice Mill in Hunt Valley, Maryland. The plant will contribute enough energy to offset 30% of McCormick’s energy costs at that location. Here’s a description of the installation from PV-Tech.org:

The plant is comprised of 2,100 Solar World 175-watt crystalline solar panels and 92,000 square feet of lightweight, flexible thin-film photovoltaic material.

Constellation Energy’s Projects & Services Group carried out the

Read the rest

Constellation Energy (CEG) Accepts EDF Offer

Constellation Energy has accepted EDF’s offer to buy almost 50% of their nuclear business for $4.5 billion. They are withdrawing from their planned merger with MidAmerican Energy Holdings, which was going to buy the entire company for $4.7 billion. Constellation and Mid-American jointly terminated the merger agreement so that Constellation could go for the higher price offered by EDF.

MidAmerican’s Gregory Abel commented on the events:

"We were pleased to have been able to quickly

Read the rest

Constellation Energy (CEG) To Discuss Offer From Électricité de France

After reviewing the unsolicited proposal from EDF, Constellation Energy announced that it’s Board of Directors has authorized further communication with EDF regarding the offer. As of this point, however, the Board is still recommending that shareholders vote for the merger with Warren Buffet’s MidAmerican.

According to Constellation’s press release:

Constellation Energy said the decision to begin discussions with EDF was made following consultation with its legal and financial advisors, and in a manner consistent

Read the rest

Constellation Energy (CEG) Receives Proposal From Électricité de France

Constellation Energy announced that it has received a proposal from Électricite de France (EDF). If the proposal is accepted, EDF would buy a 50% share in Constellation for $4.5 billion. Constellation’s Board of Directors will review the proposal, but at this time they are still recommending that shareholders vote for the planned merger with MidAmerican Energy Holdings Company.

Here’s an overview of the proposal from EDF:

  • EDF would purchase a 50% ownership interest in the
Read the rest

Constellation Energy (CEG) Plummets on Collateral Concerns

Constellation Energy (CEG) plummeted to a 2 year low today with record volume after it was revealed that a credit rating downgrade could force the company into posting billions of dollars in extra collateral.  High volatility in fuel and electricity prices have increased the risk of a downgrade, and the company could be forced to post over 3 billion collateral to cover those contracts if its debt is downgraded 3 levels.  It’s important to … Read the rest