Our weekly review of Under Construction identified construction activity at six power plants. Notably, two of these plants, currently classified as "not under construction" by the EIA, exhibited clear signs of construction, specifically road and path development for solar arrays.
Our weekly analysis of coal and gas power markets indicates continued heavy reliance on coal, mirroring last year’s trends. Coal inventories and plant stockpiles are decreasing steadily. Conversely, wind and solar generation, along with overall power demand, declined week over week. These conditions have favored increased coal-fired power generation due to favorable dark spreads.
Vulcan Under Construction
Our weekly review identified construction activity at six power plants. Notably, two of these plants, currently classified as "not under construction" by the EIA, exhibited clear signs of construction, specifically road and path development for solar arrays. The remaining four plants were categorized as "under construction, less than or equal to 50% complete" by the EIA.
1) OCI Stillhouse Solar
EIA status (L) Regulatory approvals pending. Not under construction, Planned operation 6/2025, Capacity 210 MW
Source: https://matrixrenewables.com/press-releases/matrix-renewables-announces-acquisition-of-stillhouse-solar-project-from-oci-solar-power/ (June 28, 2023 Matrix Renewables acquires Stillhouse Solar Project from OCI Solar Power)
https://www.power-technology.com/marketdata/power-plant-profile-stillhouse-solar-pv-park-us/ (Project expected to begin in 2024)
7/16/2024 7/3/2024
6/7/2024
2) Winfield Solar
EIA status (T) Regulatory approvals received. Not under construction, Planned operation 4/2025, Capacity 167 MW
Source: https://www.lincolnnewsnow.com/lifestyles/two-solar-farms-kick-off-construction-phase/article_c1c40b3c-033e-11ef-b71f-ff0046952cfc.html (April 27, 2024 Construction said to have begun)
https://cordeliopower.com/projects-map/ (Project listed as in development on companies website)
7/17/2024 7/10/2024
Vulcan clients can now visualize this construction progression through a timeline view accessible by highlighting the plant of interest on our map.
Vulcan Coal/Gas Power Markets
Coal-fired power generation remains prevalent due to favorable dark spreads. Coal inventories and plant counts continue to decline, mirroring trends from the previous year.
Our gas scorecard indicates a neutral outlook for gas burns this week based on several factors. Decreasing load and persistent positive dark spreads for coal, coupled with declining coal inventories, contribute to this bearish sentiment. Conversely, a significant week-over-week reduction in wind and solar generation offers some bullish support for gas.
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