ComEd 2015 Annual Report Download - page 16

Table of Contents
Antelope Valley Solar Ranch One. On September 30, 2011, Exelon completed the acquisition of all of the interests in Antelope Valley, a
242-MW solar project under development in northern Los Angeles County, California, from First Solar, Inc. The facility became fully operational in
2014. The project has a 25-year PPA with Pacific Gas & Electric Company for the full output of the plant, which has been approved by the CPUC.
Total capitalized costs for the facility incurred through completion of the project were approximately $1.1 billion.
Wolf Hollow Generating Station. On August 24, 2011, Generation completed the acquisition of all of the equity interests of Wolf Hollow,
LLC (Wolf Hollow), a combined-cycle natural gas-fired power plant in north Texas, for a purchase price of $311 million which increased
Generation’s owned capacity within the ERCOT power market by 704 MWs.
Significant Dispositions
Asset Divestitures. As of December 31, 2015, Generation has sold certain generating assets with total pre-tax proceeds of $1.8 billion
(after-tax proceeds of approximately $1.4 billion). The proceeds are expected to be used primarily to finance a portion of the acquisition of PHI.
Maryland Clean Coal Stations. On November 30, 2012, a subsidiary of Generation sold the Brandon Shores generating station and H.A.
Wagner generating station in Anne Arundel County, Maryland, and the C.P. Crane generating station in Baltimore County, Maryland to Raven
Power Holdings LLC, a subsidiary of Riverstone Holdings LLC to comply with certain of the regulatory approvals required by the merger with
Constellation Energy Group, Inc. for net proceeds of approximately $371 million, which resulted in a pre-tax impairment charge of $272 million.
See Note 4—Mergers, Acquisitions, and Dispositions and Note 8—Impairment of Long-Lived Assets of the Combined Notes to Consolidated
Financial Statements for additional information.
Generating Resources
At December 31, 2015, the generating resources of Generation consisted of the following:
Type of Capacity MW
Owned generation assets
Nuclear 19,460
Fossil (primarily natural gas) 9,682
Renewable 3,599
Owned generation assets 32,741
Long-term power purchase contracts 7,419
Total generating resources 40,160
(a) See “Fuel” for sources of fuels used in electric generation.
(b) Net generation capacity is stated at proportionate ownership share. See ITEM 2. PROPERTIES—Generation for additional information.
(c) Includes hydroelectric, wind, and solar generating assets.
Generation has six reportable segments, the Mid-Atlantic, Midwest, New England, New York, ERCOT and Other Power Regions,
representing the different geographical areas in which Generation’s customer-facing activities are conducted and where Generation’s generating
resources are located.
• Mid-Atlantic represents operations in the eastern half of PJM, which includes Pennsylvania, New Jersey, Maryland, Virginia, West
Virginia, Delaware, the District of Columbia and parts of North Carolina (approximately 36% of capacity).
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(a)(b)
(c)
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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