Sempra U.S. Gas & Power, a subsidiary of
), has completed the construction of the first phase of Copper
Mountain Solar 2 (i.e. 92 megawatt ("MW")), which is the
company's new 150 MW photovoltaic solar power facility.
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Located in Boulder City, Nevada, about 40 miles southeast of Las
Vegas on a 1,110 acre site, Copper Mountain Solar 2 encompasses
1.5 million solar panels. These solar panels are capable of
generating sufficient clean energy to power 27,600 homes on an
Construction of the project had begun in December 2011 and it
created approximately 630 jobs at the peak of the construction
period. With the completion of the second phase, the plant will
be able to generate additional electricity of 58 MW, thereby
bringing the total output to 150MW. Under a 25-year contract,
power generated from the Copper Mountain Solar 2 facility, will
be sold to Pacific Gas & Electric, a subsidiary of
) . The company expects the whole project to be completed by
Besides completing the first phase of the project, the company
has also developed 58MW of solar power at Copper Mountain Solar 1
in Boulder City.
The company is progressing well with its projects worldwide.
Recently, the company filed a request with Federal Energy
Regulatory Commission to add natural gas liquefaction and export
facilities to its existing Cameron LNG terminal in Hackberry,
Louisiana. The project would create 3,000 jobs at the peak of the
construction period and approximately 130 full-time jobs when
The project would require additional approvals. However, if all
the approvals are granted, then the company expects to begin the
construction in the fourth quarter of 2013. The new liquefaction
facility will include three liquefaction trains with a total
export capability of 12 million tones per annum of LNG, or
approximately 1.7 Bcf per day.
Apart from generating revenue for the company, these projects
would stimulate local, regional and national economic activity,
create new jobs as well as support small businesses.
Sempra Energy is a southern California-based energy services
holding company involved in the sale, distribution, storage, and
transportation of electricity and natural gas. The company's
businesses are broadly divided into Sempra Utilities, Sempra
International and Sempra U.S. Gas & Power.
Sempra Energy's diversified basket of businesses insulates its
operations to a significant degree from regulatory rate risks.
Also, geographic disparity in its assets exempts the company from
any region specific risk. Thus, we believe that Sempra Energy
presents a lower risk-profile relative to its peers like
National Fuel Gas Co.
Recently, Sempra Energy reported its third-quarter 2012 results
with pro forma earnings per share of $1.33, beating the Zacks
Consensus Estimate of $1.00 and year-ago figure of $1.20. Going
forward, key growth drivers of the company include stable utility
earnings, steady progress at its LNG terminals, renewable power
projects in the Pacific Southwest, the Sunrise Powerlink
transmission line and ongoing installations of smart meter.
However, the above positives are offset due to a lack of any
near-term positive triggers, along with near-term trepidation in
natural gas prices and pending regulatory cases. The company
presently retains a short-term Zacks #3 Rank (Hold) that
corresponds with our long-term Neutral recommendation on the