A big deal in the Big Apple

TransCanada has been diversifying in recent years into the US' electric power generating sector. In late March, the company launched a US$2.8 billion bid for the 2,480 MW Ravenswood Generating Facility in New York City, effectively tripling its generating capacity in the US Northeast. TransCanada also partnered with Royal Dutch Shell Plc to propose building the Broadwater terminal in Long Island Sound near New York City. Meanwhile, three other recent asset sales, unrelated to TransCanada, are also worth noting, including the US Geothermal Inc's contract with Michael B Stewart and Empire Geothermal Power LLC to acquire a 3.6 MW geothermal plant and roughly 30,000 acres of geothermal energy leases and ground water rights in Nevada.