This special interest group is for professionals to connect and discuss all types of carbon-free power alternatives, including nuclear, renewable, tidal and more.

Bob Meinetz's picture
Nuclear Power Policy Activist, Independent

I am a passionate advocate for the environment and nuclear energy. With the threat of climate change, I’ve embarked on a mission to help overcome the fears of nuclear energy. I’ve been active in...

  • Member since 2018
  • 6,979 items added with 262,006 views
  • Aug 13, 2021

"New Jersey-based utility Public Service Enterprise Group (PSEG) has found a buyer for its 6,750-MW fossil generation fleet in a subsidiary of private equity firm ArcLight Capital Partners.

PSEG, which decided two years ago it was committed to its nuclear power plant assets and would divest most of its remaining generation, is letting go of its gas and coal-fired portfolio for about $1.92 billion. The deal with ArcLight Energy Partners Fund VII, L.P. could be closed by the end of this year or early 2022.

CEO Ralph Izzo
'A year ago, we announced the strategic review of PSEG’s non-nuclear generating assets in line with our long-term focus on regulated utility growth, improving our business mix and enhancing an already compelling environmental, social and governance profile,” PSEG Chairman, President and CEO Ralph Izzo said. “With today’s agreement, which is the result of a robust sale process, PSEG is on track to realize a more predictable earnings profile. Further, this transaction continues our evolution toward a clean energy infrastructure-focused company that will enable our increasingly low-carbon economy.'

PSEG sold its Solar Source assets to Quattro Solar, a division of LS Power, earlier this year. Overall, the divestment will gain the utility company some $2.15 billion in after-tax proceeds."

With the president's support for them now official, PSEG could be the first of many U.S. utilities re-considering plans to shut down their nuclear plants. - BM


No discussions yet. Start a discussion below.

Bob Meinetz's picture
Thank Bob for the Post!
Energy Central contributors share their experience and insights for the benefit of other Members (like you). Please show them your appreciation by leaving a comment, 'liking' this post, or following this Member.
More posts from this member

Get Published - Build a Following

The Energy Central Power Industry Network is based on one core idea - power industry professionals helping each other and advancing the industry by sharing and learning from each other.

If you have an experience or insight to share or have learned something from a conference or seminar, your peers and colleagues on Energy Central want to hear about it. It's also easy to share a link to an article you've liked or an industry resource that you think would be helpful.

                 Learn more about posting on Energy Central »