Public Service Enterprise Group Inc. (PEG) through its subsidiary PSEG Solar Source will develop three large-scale solar power projects with a cumulative total capacity of approximately 29.2MW. The three solar projects entailing an investment of approximately $100 million from Public Service will be located in Florida, Ohio and New Jersey. The three projects will utilize 380,000 solar thin-film panels sourced from First Solar Inc. (FSLR). The company expects the projects to be operational by the end of fiscal 2010. The projects will be developed in close collaboration with Juwi solar Inc. Based in Boulder, CO – Juwi solar is a privately-held solar energy generation company which will provide the engineering, procurement, construction and initial operation and maintenance services for the projects. However, ownership of the projects will lie with PSEG Solar Source. Public Service in recent times is focusing on the solar space in ...

Public Service Enterprise Group's (PEG) future success will be driven by its improving nuclear operations, successful foray into alternative energy sources, the impact of the gas and electric rate settlement, and an ongoing share repurchase program.  Management also sold all of its international assets and diverted the proceeds to reduce debt and capital expansion plans, to focus on growth opportunities in the core U.S. market. The company has also embarked on a $1.6 billion capital expenditures program for new transmission facilities spread over the next five to eight years.However, the rising cost of coal, higher pension and financial costs, the IRS challenging certain leveraged leases and power-price volatility may partially offset the stock's upside potential.Looking ahead over the next six months, we expect the stock to generate moderate positive returns for shareholders driven by the ongoing share repurchase program, cash ...

Today we are featuring top-performing "Utilities" equity mutual funds, which primarily invest in equity securities of utility companies, including telephone and cable-television firms.

Investors can find such funds by checking out the entire list of the Zacks #1 Rank Utilities Equity Funds.3 Powerful Picks

Fidelity Select Utilities Portfolio (FSUTX) was incepted in December 1981 and seeks capital appreciation. It is non-diversified.

The fund invests primarily in common stocks of companies in the utilities industry and companies that derive a bulk of their revenue from utility operations. Douglas Simmons has managed this Zacks#1 Rank ("Strong Buy") fund since October 2006. It has an expense ratio of 0.88%.

The fund's top holdings include Exelon Corp. (EXC), Sempra Energy (SRE) and Entergy Corp. (ETR).

American Century Utilities Inv (BULIX) is designed for investors

...