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NRG Energy to Acquire Corpus Christi, Texas Cogeneration Plant

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By Business Wirevia The Motley Fool

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NRG Energy to Acquire Corpus Christi, Texas Cogeneration Plant

Plant will expand NRG‘s growing cogeneration fleet as it provides NRG with additional cost-effective baseload power in one of the fastest growing states in the nation

PRINCETON, N.J. & HOUSTON–(BUSINESS WIRE)– NRG Energy, Inc. (NYS: NRG) , has entered into an agreement with a consortium of affiliates of Atlantic Power Corporation, John Hancock Life Insurance Company (U.S.A.), and Rockland Capital, LLC to acquire the Gregory cogeneration plant in Corpus Christi, Texas. The cogeneration plant is equivalent to an approximately 560 megawatt (MW) Combined Cycle Gas Turbine plant with generation capacity of approximately 400 nominal MW and steam capacity of more than a million pounds per hour (160 MW of electricity equivalent). NRG is paying approximately $244 million for the plant. Counting both electrical generation and steam production, this cost equates to approximately $436 per kilowatt.

“The addition of what is, in effect, a six heat rate, fast start, gas-fueled plant at a significant discount to replacement cost is an invaluable addition to our Texas fleet, particularly at this time with market rules and supply conditions in Texas placing a premium on flexible operations,” said David Crane, President and Chief Executive Officer of NRG.

The Gregory cogeneration plant provides steam, processed water and a small percentage of its electrical generation to the Corpus Christi Sherwin Alumina plant. The majority of the baseload generation is available for sale in ERCOT. This adds greater NRG capacity in ERCOT‘s south zone, where the company currently serves significant retail load and looks to continue to expand its customer base in this growing part of the state. The Gregory cogeneration unit came online in 2000.

“The Gregory plant’s long-term steam contract and additional generation in a zone where NRG sees significant growth potential complements our wholesale and retail positions in the State exceptionally well,” said John Ragan, president of NRG‘s Gulf Coast region. “Adding Gregory to NRG‘s existing portfolio of cogeneration and combined cycle plants also increases our ability to share expertise and best practices across Texas and the nation.”

The transaction is subject to customary closing conditions including Hart Scott Rodino pre-merger notification clearance and approval from Public Utility Commission of Texas, as well as third party consents. The transaction is expected to close in the third quarter.

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Bristol-Myers Squibb to Present New Data on Hepatitis C and Hepatitis B Compounds at The Internation

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By Business Wirevia The Motley Fool

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Bristol-Myers Squibb to Present New Data on Hepatitis C and Hepatitis B Compounds at The International Liver Congress TM (ILC) 2013

  • New data on an investigational, all-oral, triple DAA regimen of daclatasvir, asunaprevir and BMS-791325 to be included in official ILC Press Conference on April 24
  • New ALT flare data further characterize profile of peginterferon lambda-1a (Lambda) as investigational treatment for Chronic Hepatitis B (CHB)
  • Breadth of data underscores Company’s commitment to advancing the treatment of liver disease

PRINCETON, N.J.–(BUSINESS WIRE)– Bristol-Myers Squibb Company (NYS: BMY) announced today that 14 abstracts on the Company’s research in liver disease have been accepted for presentation at The International Liver CongressTM 2013, the 48th annual meeting of the European Association for the Study of the Liver (EASL), in Amsterdam, April 24 – 28.

Key presentations include:

  • New Phase 2 data on an investigational triple direct-acting antiviral (DAA) regimen of daclatasvir (NS5A replication complex inhibitor), asunaprevir (NS3 protease inhibitor) and BMS-791325 (NS5B non-nucleotide polymerase inhibitor) in patients with hepatitis C (HCV) genotypes 1a and 1b. The regimen is being studied as a potential interferon alfa-, ribavirin- and ritonavir-free treatment option to avoid the tolerability and drug-drug interaction profiles of these medicines. These triple DAA data will be highlighted in the official ILC Press Conference on April 24.
  • An analysis of all available safety data on 1,100 patients who received daclatasvir plus interferon alfa and ribavirin in Phase 2 studies. These data support the ongoing Phase 3 development program for daclatasvir and further studies of daclatasvir as a component of DAA-based HCV treatment regimens.
  • A characterization of ALT flares observed in hepatitis B (HBV) treatment with the investigational interferon Lambda vs. alfa interferon, reflecting differing profiles for the two compounds. Lambda is being developed as a potential alternative for alfa wherever interferon is used in the treatment of either HCV or HBV.
  • An analysis of sustained virologic response with daclatasvir plus sofosbuvir, with or without ribavirin, in patients with HCV genotype …read more

    Source: FULL ARTICLE at DailyFinance

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Bristol-Myers Squibb Awards Two Grants to Support Comprehensive Cancer Community Collaboration at Se

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Bristol-Myers Squibb Awards Two Grants to Support Comprehensive Cancer Community Collaboration at Several Hospitals in New Jersey


Grants to American Cancer Society and Princeton HealthCare System support navigation programs designed to improve outcomes and promote efficient, cost-effective care for patients with cancer

PRINCETON, N.J.–(BUSINESS WIRE)– Bristol-Myers Squibb has awarded grants totaling $175,000 to the American Cancer Society Eastern Division and Princeton HealthCare System (PHCS) to support comprehensive navigation services for patients with cancer both independently and as part of a collaborative effort among several hospitals in central New Jersey.

Several studies have linked patient navigation to improvements in patient outcomes and survival rates, particularly for patients with cancer. Navigation is viewed as an integral component of cancer services. Navigators help coordinate patients’ care and guide them to resources that can provide psychosocial support and address financial concerns, language or cultural issues, and day-to-day needs such as transportation.

The grant to PHCS supports the expansion of a successful patient navigation program at the system’s acute-care hospital, University Medical Center of Princeton at Plainsboro (UMCPP) in Plainsboro, N.J. The program was first piloted at UMCPP‘s Breast Health Center in East Windsor, N.J., under the guidance of a breast health navigator, and also among UMCPP‘s patients with lung and esophageal cancer. The move toward a Comprehensive Oncology Patient Navigation Program will expand navigation services to encompass all cancer patient categories at UMCPP‘s Edward & Marie Matthews Center for Cancer Care.

The Matthews Center for Cancer Care at UMCPP regularly refers patients to the American Cancer Society, and the two jointly offer the “Look Good Feel Better” program. In addition, the Matthews Center for Cancer Care regularly offers collaborative programs with Cancer Support Community Central New Jersey and frequently refers patients to Cancer Care for counseling and psychosocial services.

PHCS used the Bristol-Myers Squibb grant to expand its patient navigation staff to include a full-time senior navigator at UMCPP, fund a patient orientation program and provide more materials to help patients better understand their diagnoses.

“We envision a program in which all patients who receive a cancer diagnosis at UMCPP [approximately 800 to 900 per year] and patients who are returning for cancer treatment [approximately 200 per year] will be routed through an integrated program in which they will be supported from inception to aftercare,” said Judy …read more
Source: FULL ARTICLE at DailyFinance

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NRG Begins Operations at 26 MW Borrego Solar Photovoltaic Facility

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NRG Begins Operations at 26 MW Borrego Solar Photovoltaic Facility

Utility-scale solar facility in San Diego County provides clean power to SDG&E customers

PRINCETON, N.J.–(BUSINESS WIRE)– NRG Energy, Inc. (NYS: NRG) , through its wholly owned subsidiary NRG Solar, announced the start of commercial operations for the Borrego I Solar Generating Station, a 26 megawatt (AC) photovoltaic facility located northeast of Borrego Springs, Calif. The station’s electricity will be sold to San Diego Gas & Electric under a 25-year power purchase agreement.

NRG‘s 26 megawatt Borrego I Solar Generating Station has begun operations in California. The electricity will be sold to San Diego Gas & Electric under a 25-year power purchase agreement. (Photo: Business Wire)

“Borrego is our first utility-scale solar facility providing power to the San Diego area, helping to create local construction jobs and meet SDG&E’s demands for cost-competitive renewable sources of electricity,” said Randy Hickok, Senior Vice President of NRG Solar. “Our large-scale solar facilities provide clean, renewable energy that Californians want for their homes and to power the electric vehicle infrastructure NRG is currently building in California and Texas. Taken together, solar and electric vehicles will go a long way toward reducing our reliance on fossil fuels and our carbon emissions.”

“The Borrego I Solar Generating Station will provide clean renewable solar power for our customers, and is the first utility scale local renewable project to come online in San Diego County since 2006,” said Matt Burkhart, vice president of electric and fuel procurement for SDG&E. “We applaud NRG Energy for their perseverance in getting this project constructed and look forward to more local renewable projects.”

The Borrego facility will generate enough energy to meet the annual needs of approximately 9,000 homes. Using clean solar power also avoids the annual emission of approximately 19,000 tons of carbon dioxide into the atmosphere, the equivalent of taking 3,500 cars off the road.

Borrego is one of eight large-scale solar facilities in NRG‘s ownership portfolio that is currently producing clean solar power for thousands of homes and businesses in three states. The other seven completed or partially completed plants are Agua Caliente (under construction) and Avra Valley in Arizona; Roadrunner in New Mexico; and Avenal, Blythe, Alpine and California Valley Solar Ranch (under construction) in California. A ninth solar plant that is not yet producing power, the Ivanpah Solar Electric Generating System in California, is expected to be completed …read more
Source: FULL ARTICLE at DailyFinance