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Tampa Electric Plans to $800 Million Investment in New Solar Power Generation

LCG, February 24, 2020--Tampa Electric recently announced plans to expand its use of solar power to meet customer needs in Florida. The company plans to invest approximately $800 million to add 600 MW of solar electric generating capacity by the end of 2023, when the total solar capacity would exceed 1,250 MW. Solar power will then account for about 14 percent of the utility's energy.

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AWEA Issues Fourth Quarter 2019 Market Report

LCG, February 7, 2020--The American Wind Energy Association (AWEA) recently released its new U.S. Wind Industry Fourth Quarter 2019 Market Report. AWEA reports new wind turbine installations have added 5,476 MW of electric generating capacity during the fourth quarter, which results in 2019 installations totaling 9,143 MW. The total installations represent an increase over 2018, but the total for 2019 falls short of total annual installations for 2015 and 2016. In addition to new capacity additions, developers completed 2,500 MW of turbine repowerings for the year.

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Industry News

Enron Executive Receives Prison Sentence

LCG, September 11, 2003Ben Glisan, former treasurer for the Enron Corporation, was sentenced to five years in federal prison for conspiracy to commit wire fraud.

Glisan was sentenced yesterday after he plead guilty to one count of criminal wire fraud. He will forfeit $938,000 as illegally obtained revenue. He will also not receive any refund for the $412,000 he paid in income taxes last year.

Prosecutors were probably hoping to make a deal with Glisan in order to develop cases against Enrons big fish, particularly former chief executive Jeff Skilling and former chairman Ken Lay. However, Glisan has proved fairly uncooperative, and the Justice Department said they made no agreement.

Glisan worked under Andrew Fastow, Enrons former financial officer. In May, Glisan, Fastow, and former Enron employee Dan Boyle plead innocent to indictments addressing allegedly manipulative accounting.

Yesterday, however, Glisan announced that he participated in an off-balance sheet partnership, Talon, that involved $30 million in capital that came from Enron but was reported as outside capital. He noted that he and others planned to manipulate Enrons financial statements.

Over twenty people previously employed by or somehow related to Enron have been indicted. Six have plead guilty, but Glisan is the first to be sent to prison.

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