GDF Suez to buy FirstLight Power
MONTREAL, QUEBEC - European power and water utility giant GDF Suez, in which Power Corp. of Canada is an important investor, said it is buying FirstLight Power Enterprises Inc., which operates hydro and natural gas electricity-generating plants in Massachusets and Connecticut.
The deal is worth an estimated $1.7 billion US. The seller is the U.S. private equity group Energy Capital Partners, which owns 15 other small power plants.
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Its Electric Grid Under Strain, California Turns to Batteries
LOS ANGELES - Last month as a heat wave slammed California, state regulators sent an email to a group of energy executives pleading for help. “Please consider this an urgent inquiry on behalf of the state,” the message said.
The manager of the state’s grid was struggling to increase the supply of electricity because power plants had unexpectedly shut down and demand was surging. The imbalance was forcing officials to order rolling blackouts across the state for the first time in nearly two decades.
What was unusual about the emails was whom they were sent to: people who managed thousands of batteries…
