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March 17, 2014
09:02 EDTCNLCleco transfers Coughlin Power Station to regulated utility
Cleco announced the transfer of Coughlin Power Station to its regulated utility, Cleco Power, from its unregulated subsidiary, Cleco Midstream. Cleco Power assumed ownership of the natural gas-fired unit Saturday, March 15. This transaction will add 775-megawatts of nameplate capacity to Cleco Power's regulated fleet. As part of the utility's generation units, the Coughlin facility is a key component of providing capacity, energy and services to Dixie Electric Membership Corporation, or DEMCO. This contract is to begin on April 1, and will grow the utility's total customer load by more than 20%. DEMCO serves the growing suburban Baton Rouge market and is one of the largest cooperatives in Louisiana.
News For CNL From The Last 14 Days
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September 26, 2014
07:24 EDTCNLCleco still likely to be sold, says Wells Fargo
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September 25, 2014
12:33 EDTCNLCleco slide on Bloomberg report an overreaction, says Wells Fargo
Wells Fargo views the pullback in shares of Cleco after Bloomberg reported, citing sources, that its sales process is encountering problems as an overreaction. The firm continue to think there are a number of infrastructure firms, as well as strategic buyers, that may step in if the leading bidders back off and it keeps its Outperform rating on the stock.
12:17 EDTCNLOn The Fly: Midday Wrap
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11:50 EDTCNLCleco sale process faltering, Iberdrola drops out, Bloomberg reports
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10:47 EDTCNLCleco drops 8% to $49 after Bloomberg report on sale process faltering
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10:46 EDTCNLCleco sale process faltering, Iberdrola drops out of bidding, Bloomberg says
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