in News Departments > FYI
print the content item

Puget Sound Energy (PSE), a regulated utility subsidiary of Puget Energy, providing electric and natural gas service to the Puget Sound region of western Washington, and a consortium of North American infrastructure investors have filed an application with the Washington Utilities and Transportation Commission (WUTC) to request its approval in connection with the proposed merger of Puget Energy announced on Oct. 26.

Under the terms of the merger agreement, the consortium will acquire all of the outstanding common shares of Puget Energy for $30 per share in cash, subject to the approval of Puget Energy's shareholders and certain regulatory approvals.

"We're taking the necessary steps to move forward with the merger by preparing and filing the requisite applications and materials to receive regulatory approval," says Stephen P. Reynolds, chairman, president and CEO of Puget Energy and PSE.

On Dec. 3, after receiving notice of early termination of the required waiting period under the Hart-Scott-Rodino Act, Reynolds notes, Puget Energy completed the sale to the consortium of 12.5 million shares for an aggregate offering price of approximately $296 million. This infusion will fund PSE's ongoing construction program and working capital needs.

PSE owns the 229 MW Wild Horse Wind Facility - commissioned in December 2006 - and the 150 MW Hopkins Ridge Wind Facility.


Trachte Inc._id1770
Latest Top Stories

Renewables Make Up Over 50% Of New U.S. Power In First Half Of 2014

According to a recent government report, renewable energy sources, such as wind and solar, continue to dominate new electric generating capacity.


Suzlon Facility Lends Key Assist In Developing 'The Wind Technicians Of Tomorrow'

The turbine manufacturer’s Elgin, Ill.-based training facility is the culmination of a program that puts a new twist on a proven method of instruction.


Having Their Say: CanWEA Clarifies True Source Of Canadian Wind Success

The Canadian Wind Energy Association (CanWEA) takes issue with a recent report summary regarding various renewable energy policies in North America.


FWS Issues Landmark Eagle Take Permit: What Does It Mean For Wind Projects?

The U.S. Fish and Wildlife Service's (FWS) recent decision has far-ranging implications for operating wind farms, as well as for those under development.


'Significant' Opportunity Exists Within Wind Energy's O&M Services Market

An increasing number of wind turbines are nearing the end of their warranty period, creating significant revenue-generating opportunities within the wind turbine operations and maintenance (O&M) sector.

Renewable NRG_id1934