LEAPS Secures Major Financial Backing.Morgan Stanley To comply with Wikipedia's , the introduction of this article needs a complete rewrite. Commodities to Be Principal Investor in Innovative Power Transmission Project
Joins with Siemens and Nevada Hydro in Meeting Southern California Power Needs
LAKE ELSINORE, Calif., Aug. 6 /PRNewswire/ -- The Nevada Hydro Company today announced its agreement with Morgan Stanley Commodities to create a new corporate entity, LEAPS Hydro, LLC (Logical Link Control) See "LANs" under data link protocol.
LLC - Logical Link Control , for the purposes of building, owning and operating the $1.1 billion Lake Elsinore Advanced Pump Storage (LEAPS) project and the accompanying transmission lines to provide increased energy reliability to Southern California.
LEAPS and the corresponding transmission lines will become the first major hydro-electric project constructed in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. in approximately 20 years. "We are excited about the prospect of bringing clean and reliable energy to the people of Southern California, and Morgan Stanley's involvement means this project can become a reality," said Nevada Hydro Vice President Rex Wait.
Having already completed federal environmental documents, the project is pending final federal license approval by the Federal Energy Regulatory Commission The Federal Energy Regulatory Commission (FERC) is the United States federal agency with jurisdiction over electricity sales, wholesale electric rates, hydroelectric licensing, natural gas pricing, and oil pipeline rates. . Once final approvals are granted by the State of California and FERC FERC Federal Energy Regulatory Commission
FERC FEMA Emergency Response Capability , it will be possible to begin construction and come on line as soon as possible.
"The fact that LEAPS and the corresponding transmission line is primarily located in the Cleveland National Forest The Cleveland National Forest encompasses 460,000 acres (1900 km²) (720 sq. mi.), mostly of chaparral, with a few riparian areas. It is the southernmost National forest of California. minimizes the project's impact on local property owners and provides a unique ability to help address water availability and water quality issues in Lake Elsinore," Wait added. Once completed, LEAPS will be ready to store and generate 500 megawatts on a moment's notice by releasing water from an upper reservoir in Decker Canyon into Lake Elsinore -- ensuring needed energy reliability. The project will be a long-term anchor tenant for Lake Elsinore, providing a long term source of revenues for the maintenance of water quality and lake levels at Lake Elsinore, Southern California's largest natural lake.
A major benefit that LEAPS brings to the power grid is that it provides a place to store renewable energy Renewable energy utilizes natural resources such as sunlight, wind, tides and geothermal heat, which are naturally replenished. Renewable energy technologies range from solar power, wind power, and hydroelectricity to biomass and biofuels for transportation. generated in off-peak times and then re- delivers that energy during high demand periods when the power is needed. The State of California's commitment to renewable energy resources creates a need for infrastructure like LEAPS to store and redeliver re·de·liv·er
tr.v. re·de·liv·ered, re·de·liv·er·ing, re·de·liv·ers
1. To deliver again.
2. To deliver in return; give back. energy. The innovative technology involved in LEAPS makes it possible to use the water stored in an upper reservoir to generate electricity during periods of high demand. This "stored energy" resource means electricity can be produced without using traditional power plants using coal and fossil fuels to run the turbines that create power. Known in the industry as "pumped storage," the LEAPS project enables state energy managers to have a reliable energy source that can be tapped when other renewable resources (wind and solar) are unavailable to residential and commercial electricity customers. "This is a unique opportunity to participate in a world class project and provide a clean energy solution to the power needs of Southern California," according to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. Arlin Travis, Executive Director, Morgan Stanley.
In addition to Nevada Hydro and Morgan Stanley, Siemens Power Transmission & Distribution, Inc., and Voith Siemens will provide the innovative technology to the project to create a world-class pumped storage hydro project. Voith Siemens will supply the water turbine generators to create the 500 MW of power while Siemens Power Transmission & Distribution will be responsible for a state of the art transmission system that will include a short section of underground 500kV transmission to mitigate hang gliding activities.
In addition to reliability, LEAPS also helps ease the problem of power transmission capacity in Southern California. Currently, there is not enough ability to move electricity in the state. By building transmission lines to connect LEAPS to both Southern California Edison and San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. Gas & Electric systems, added capacity will be provided to the state's overly congested con·gest·ed
Affected with or characterized by congestion.
congested ENT adjective Referring to a boggy blood-filled tissue. See Nasal congestion. electricity corridor. "This important connection will provide added reliability to the electricity consumers in San Diego, and we are excited about the opportunity to help electricity consumers all across Southern California," said Wait.
The Nevada Hydro Company was founded by Rex Wait and Peter Lewandowski in Nevada for the purpose of building LEAPS and the corresponding transmission line. The principals of Nevada Hydro include Wait, who has extensive experience in constructing power projects across the globe and Lewandowski who has an extensive track record managing environmental mitigation.
Morgan Stanley is a leading global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page. firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 31 countries. For further information about Morgan Stanley, please visit http://www.morganstanley.com/.
Nevada Hydro has also retained the consulting firm Devine Tarbell & Associates, Inc. (DTA) to assist with advancing the preliminary engineering performed to date on the project. DTA is a national leader in hydroelectric and, particularly, pumped storage services with over 150 professional
engineers, scientists and regulatory specialists, and offices in eight domestic locations.
Voith Siemens Hydro Power Generation is a Group Division of Voith and -- with a workforce of around 2,500 employees and an order intake of around 720 million Euro in the past business year -- Voith Siemens Hydro Power Generation is one of the world-wide leading companies for hydro power equipment. Voith is setting standards in the markets of paper, energy, mobility and service. Founded on January 1, 1867, and currently with around 34,000 employees, a turnover of 3.7 billion Euro, and 250 locations worldwide, Voith is one of Europe's largest family-owned companies.
Siemens Power Transmission & Distribution, Inc. (SPT&D) creates innovative product, system and service solutions for its customers -- electric utilities, transmission organizations, Independent System Operators, and large energy consumers. SPT&D is a leading supplier of high and medium voltage power delivery equipment, energy management systems, network planning and power system engineering software for regulated and deregulated generation, transmission, and distribution markets. Headquartered in Raleigh, NC, SPT&D's products and systems are used to increase power system capacity and improve the reliability, stability and flexibility of power delivery and network control systems.
"Morgan Stanley's investment into LEAPS at this time means we are closer than ever to finally being able to begin providing clean and reliable energy to the people of Southern California, ultimately reducing their rates. We look forward to bringing this valuable asset online as soon as possible," concluded Wait.
For more information about LEAPS, please contact Chris Wysocki at (916) 444-1502.
CONTACT: Chris Wysocki, +1-916-444-1502, for Nevada Hydro
Web site: http://www.morganstanley.com/