On Monday, TerraForm Power, Inc. (NASDAQ:TERP)’s shares surged 1.74% to $40.95, hitting its highest level, as SunEdison, Inc. (SUNE), the world’s largest renewable energy developer, declared that it has signed contracts to construct and install three new utility-scale solar power plants in southern Utah with a total capacity of 262 megawatts DC.
PacifiCorp, an electric utility that serves 1.8 million residential, commercial, and industrial customers, will purchase the electricity through three 20-year power purchase contracts according to its obligation under the federal Public Utilities Regulatory Policies Act. The purchase contracts and the price of the electricity will be at the utility’s avoided cost of electricity, which reflects the utility’s costs to purchase or generate the power from other resources. The contract will be approved by the Utah Public Service Commission to ensure a fair price for PacifiCorp customers.
The three solar power plants are located in Iron County in southern Utah , and comprise the 63 megawatt DC Granite Mountain Solar West plant, the 100 megawatt DC Granite Mountain Solar East plant and the 99 megawatt DC Iron Springs Solar plant. Construction of the power plants is predictable to start in the fall of 2015 with commercial operations predictable in 2016.
SunEdison has made a major commitment to Utah , with more than 720 megawatts DC of solar energy in development and 306 megawatts AC of wind power operated in-state. SunEdison’s other solar projects in Utah comprise the 22.6 megawatt DC Seven Sisters, the 420 megawatt DC Four Brothers, and 22 megawatts DC of smaller projects. Together, these projects will create more than 800 local construction jobs for the people of Utah .
These projects are on the Call Right Projects List for TerraForm Power, Inc. (TERP), a global owner and operator of clean energy power plants. SunEdison anticipates offering these projects to TerraForm Power for investment upon completion. Operation and maintenance of the solar power plants will be performed by SunEdison Services, which provides global 24/7 asset administration, monitoring and reporting services.
TerraForm Power, Inc. owns and operates solar and wind generation assets serving utility, commercial, and residential customers. As of February 20, 2015, its portfolio compriseed of solar and wind projects located in the United States, Canada, the United Kingdom, and Chile with an aggregate nameplate capacity of 1,507.3 megawatt.
Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN)’s shares gained 1.74% to $10.54, during the last trading session on Monday, after a biopharmaceutical company, declared that it will present three posters, counting two late breaker abstracts, at the 50th Annual Meeting of the European Association for the Study of the Liver (EASL) during The International Liver Congress 2015. Poster presentations will comprise Phase 1 results on ACH-3422, a NS5B nucleotide polymerase inhibitor, and detailed results from the Phase 2 proxy study evaluating ACH-3102, a second-generation NS5A inhibitor, and sofosbuvir following 6- and 8-week treatment durations for treatment-naive genotype 1 HCV. The congress is being held April 22 — 26 in Vienna, Austria.
Achillion Pharmaceuticals, Inc., a biopharmaceutical company, discovers, develops, and commercializes anti-infective drug therapies in the United States and internationally. It focuses on developing combination therapies for the treatment of chronic hepatitis C (HCV) infection and drug-resistant bacterial infections.
At the end of Monday’s trade, Ameriprise Financial, Inc. (NYSE:AMP)’s shares gained 1.69% to $126.63, as Five Columbia funds have received 2015 Lipper Fund Awards as top-performing mutual funds in their respective Lipper classifications for the period ending December 31, 2014:
- Columbia Select Large-Cap Value Fund (R5 shares)
- Large-Cap Value Funds classification (90 funds) – 10 years
- Columbia Greater China Fund (Z shares)
- China Region Funds classification (11 funds) – 10 years
- Columbia Global Technology Growth Fund (Z shares)
- Science & Technology Funds classification (39 funds) – 3 years
- Columbia Contrarian Core Fund (Z shares)
- Large-Cap Core Funds classification (177 funds) – 10 years
- Columbia AMT-Free California Intermediate Muni Bond Fund (Z shares)
- California Intermediate Municipal Debt Funds classification (13 funds) – 10 years.
The U.S. Lipper Fund Awards recognize funds for their consistently strong risk-adjusted three-, five-, and 10-year performance, relative to their peers, based on Lipper’s proprietary performance-based methodology.
This is the fourth successive year that Columbia Select Large-Cap Value Fund has earned a Lipper Award in the Large-Cap Value category. The fund received the award for 10-year performance in 2014 (84 funds), for 5-year and 10-year performance in 2013 (102 funds and 84 funds), and for 5-year performance in 2012 (402 funds).
Columbia Threadneedle Investments is the global asset administration group of Ameriprise Financial, Inc. (AMP).
Ameriprise Financial, Inc., through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. The company’s Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors. Its Asset Management segment offers investment advice and investment products to retail, high net worth, and institutional clients through unaffiliated third party financial institutions and institutional sales force.
Finally, Perrigo Company Public Limited Company (NYSE:PRGO), ended its Monday’s trading session with 1.68% gain, and closed at $201.88, after Mylan N.V. (MYL) declared that it has offered Perrigo Company with notice of its filing recently of the premerger notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) with the U.S. Federal Trade Commission and the U.S. Department of Justice Antitrust Division regarding its projected attainment of Perrigo, as required by the HSR Act. Mylan projected to attain Perrigo for $205 per share in a cash-and-stock transaction on April 6, 2015.
Mylan Executive Chairman Robert J. Coury stated, “As we continue to await for Perrigo’s Board of Directors’ deliberations to be complete, recently’s filing represents another important step in our ongoing determination to make this compelling projected combination a reality. We are eager to continue our preceding talk aboutions with Perrigo as soon as possible and to mutually agree on the way forward.”
Mylan is a global pharmaceutical company committed to setting new standards in healthcare. Working together around the world to provide 7 billion people access to high quality medicine, we innovate to satisfy unmet needs; make reliability and service excellence a habit; do what’s right, not what’s easy; and influence the future through passionate global leadership.
Perrigo Company plc, through its auxiliaries, develops, manufactures, and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, nutritional products, and active pharmaceutical ingredients (API). Its Consumer Healthcare segment offers OTC pharmaceutical products in the areas of analgesics, cough/cold/allergy/sinus, gastrointestinal, smoking cessation, and animal health products, in addition to in the areas of feminine hygiene, diabetes care, and dermatological care; and contract manufacturing services.
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