The agreement will result in the transfer to InterGen of the majority of the natural gas pipeline, storage and power generation assets of Shell’s Coral Energy affiliate in the United States. To strengthen the alignment of assets with marketing and trading in North America, InterGen will own a 30 percent equity interest in Coral Energy, the region’s third largest natural gas marketer and 20th largest power marketer. Globally, the alignment will enable InterGen to leverage Shell’s strengths in both fuel supply and power marketing and trading. Bechtel will continue to be InterGen’s preferred provider of power generation engineering, procurement and construction services worldwide. By contributing these assets, Shell’s ownership in InterGen will increase to 68 percent with Bechtel Enterprises owning the remaining 32 percent.
NORRISTOWN, Pa.–The Board of Managers of PJM Interconnection L.L.C., at its August 1, 2000 meeting, approved the final group of elements in the first coordinated regional transmission expansion plan developed under the PJM Independent System Operator (ISO) structure. The approval completes the process, giving the go-ahead to the transmission facilities required to interconnect over 40 new generating resources to the grid. These new generation projects represent over 15,000 MW of new capacity for the region, proposed to be in service between 2000 and 2005. This additional capacity will help to ensure the reliability of the region while at the same time increasing the robustness of the competitive markets in PJM.
