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February and March mark the 2010 income information season for energy-related businesses, as well as the fourth quarter 2010. Unregulated companies doing business in California are largely expanding their renewable energy developments. With the exception of Constellation, most are posting profits. AES--This global company posted $1 billion for 2010 earnings. In 2009 the company noted $1.7 billion in net income. Tessera Solar, which attempted to finance two large solar facilities in the Southern California desert, announced Feb. 16 that it sold its 700 MW Imperial Valley solar thermal project to AES Solar. San Diego Gas & Electric retained the power purchase agreement for the facility. This disposition follows last month’s sale of Tessera’s 663 MW Calico Project to K Road Power. The buyer announced that it likely would convert the proposal into a photovoltaic project (Current, Jan. 7, 2011). Since 2005, Tessera has a contract with San Diego Gas & Electric for Imperial’s output. Delivery was estimated to begin at the end of next year. The facility is to feed its power to the San Diego area over SDG&E’s $1.9 billion Sunrise Powerlink transmission line. AES Solar “intends to move the project forward and is committed to working with San Diego Gas & Electric to fulfill its obligations under contract,” according to AES. AES also is developing wind projects in California. On March 1, the company noted that it closed its financing of Mountain View IV, a 49 MW development. The power is set to be sold to Southern California Edison. Calpine--For 2010, the California-based generator posted $31 million in income, down from $149 million in 2009. In the last quarter of 2010, Calpine noted a loss of $24 million. In 2009 at the same time, Calpine posted a $43 million loss. Both Calpine’s Geysers’ geothermal plants and its Otay Mesa facility were responsible for improving the bottom line--to the tune of about $130 million--noted the company. Constellation--For 2010, Constellation posted a loss of $982 million compared to a 2009 income of $4.44 billion. For last year’s fourth quarter, it reported $168 million in income. At the same time in 2009, the company posted $4.42 billion in income. The company owns biomass and solar generation in California. It sold its Mammoth geothermal facility to Ormat last year. Comverge--This demand-response aggregator that contracts with California utilities to curb peak usage is set to report income March 9. In the last report, it had about 3,000 NW (negawatts) under its management nationwide. Dynegy--Shareholders keep rejecting suitors to buy out Dynegy. In play, still, is Ichan Enterprises. Seneca is also being considered. The Blackstone Group was rejected last year. In February, top executives, including the chief executive officer were ousted. No financials were available at press time. Dynegy owns the 1,000 MW Morro Bay plant, the 2,529 MW Moss Landing facility, the 165 MW plant at the Port of Oakland, and the 700 MW South Bay plant. EnerNOC--This demand-response aggregator with contracts with California investor-owned utilities is out of the hole. It posted $9.6 million in income for 2010. The year before it lost $6.8 million. EnerNoc’s last quarter 2010 losses totaled $21 million. For The fourth quarter 2009 it reported $15.2 million in losses. Negawatts under EnerNOC’s control increased from 3,550 in 2009, to 5,300 last year. First Solar--This photovoltaic company posted a net income of $644 million for 2010. In 2009, the number was $640 million. For the fourth quarter 2010, First Solar reported $155 million in income compared with a 2009 fourth quarter at $141 million. In February, the company signed an agreement with Southern California Edison for 250 MW of photovoltaic power. It also has 290 MW set to go to Pacific Gas & Electric from the Agua Caliente photovoltaic development in Yuma, Arizona. In 2010, it acquired NextLight Renewable Power. Also in development in California is the 550 MW Sunlight project. Under the plan, Sunlight is to deliver 300 MW to PG&E and the other 250 MW to Edison. First Solar also is planning a 300 MW project called Stateline for Edison. GenOn--This company, resulting from the recent merger of RRI and Mirant, reported a net loss of $50 million for 2010. In 2009, it posted net income at $494 million. For the fourth quarter last year, GenOn reported a $30 million loss. In the last quarter of 2009, there was a $110 million gain, according to GenOn financial statements. The company closed the Potrero power plant in San Francisco Feb. 28, after receiving the go-ahead from the California Public Utilities Commission Feb. 24. Now that the Trans Bay cable transmission line is in operation, power to the city can be brought in from other GenOn plants in the East Bay. NextEra Energy Resources--A subsidiary of NextEra that is California’s primary wind developer reported $980 million in net income for last year. That’s up from $759 million in 2009. For the last quarter of last year, the subsidiary posted $73 million in income, down from $156 million in the fourth quarter 2009. The “main drivers,” according to NextEra, include write offs “associated with the future repowering of two wind projects in California.” Controversy has surrounded the company’s Altamont Pass wind turbines because of the high number of bird kills. “On the solar front, the long-term power purchase agreement for the company’s 250 MW Genesis project” was approved, noted NextEra. It plans to build a “twin” 125 MW solar thermal facility. Ormat--This geothermal company posted $37.2 million in net income for last year. That compares to $68.6 million in 2009. Ormat specializes in geothermal energy. It’s based in Reno, Nevada. For the fourth quarter, Ormat reported $4.5 million in income, versus $16.1 million this time in 2009. A good deal of the discrepancy is due to the North Brawley development in Imperial County, according to Ormat--resulting in a $15.2 million loss. The project is supposed to deliver 50 MW but is short of projections. Ormat completed its acquisition of the Mammoth complex for $72.5 million. Ormat’s now the sole owner of 29 MW of power plants and associated equipment that comprise the Mammoth complex, including the rights to over 10,000 acres of undeveloped federal lands. SunPower--The San Jose-based photovoltaic company posted income up from 2009--$178 million in 2010 compared to $32.5 million the year before. For the fourth quarter last year, the photovoltaic manufacturing company reported $152 million in 2010, next to $8.5 million in the fourth quarter 2009. SunPower in California noted it’s selling its 250 MW California Valley Solar Ranch power plant to NRG. Three power purchase agreements with Edison for 711 MW were also in the works in the last quarter of last year.

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