in News Departments > FYI
print the content item

Energy East Corp., an energy services and delivery company with offices in Portland, Maine, and Albany, N.Y., has announced it will seek to issue up to 10 million common shares generating gross proceeds of approximately $240 million. Proceeds from the offering will be used for the redemption of debt and for general corporate purposes, including projects that together would reduce carbon dioxide emissions by approximately 1 million tons per year.

The company plans to invest over $3 billion through 2011. According to Energy East, major planned investments include $500 million for advanced metering infrastructure in New York and Maine; $500 million in transmission investments, predominately in Maine, which will improve electric grid reliability and promote renewable generation; and $500 million for the repowering of the Russell Station power plant using clean coal technologies.


Trachte Inc._id1770
Latest Top Stories

Wind And Solar Are Catching Up With Nuclear Power, Says Report

A new report from the Worldwatch Institute says nuclear energy's share of global power production is steadily shrinking. Meanwhile, renewables' share keeps growing.


Could New Desert Plan Spell The End Of California Wind Energy Development?

The California Wind Energy Association says it is disappointed with the draft Desert Renewable Energy Conservation Plan, which was recently released by state and federal agencies.


New U.S. House Bill Includes Wind PTC Extension

U.S. representatives have introduced the Bridge to a Clean Energy Future Act of 2014, which would extend the production tax credit (PTC) and other provisions through 2016.


Utility-Scale Wind And Solar Keep Getting Cheaper

A new study measures the levelized cost of energy from various technologies and suggests that the costs of utility-scale wind and solar power are catching up with those of traditional sources, even without subsidies.


The Song Remains The Same: Ontario Seeks More Science Before Lifting Offshore Ban

The Ontario government says the nearly four-year-old offshore wind moratorium will remain in place until the province fully understands the technology’s impact on the environment.

Canwea_id1984
Renewable NRG_id1934
Future Energy_id2008