Asia Pacific
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Troubled Australian asset manager AMP, the parent company to US renewables investor AMP Capital, has avoided a second shareholder vote against executive pay by a slim margin.
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Trafigura Group announced on April 9 that it will launch its first carbon trading desk, led by Hannah Hauman, further expanding the scope of its trading activities.
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Thomas Brostrøm, the former chief executive of Ørsted’s North American offshore wind division, is preparing to take the helm of Shell’s global renewable generation team next year.
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Australian asset manager AMP Capital has confirmed that it has received a non-binding public takeover offer from Ares Management Corp.
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The Hawaii Public Utilities Commission has approved Innergex's 15 MW Paeahu Solar solar-plus-storage project in South Maui.
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BP has entered into an agreement to supply Microsoft Corp with renewable power around the world.
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Australian fund manager AMP Capital has promoted its global head of infrastructure equity – Boe Pahari – to the position of CEO.
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Jack Paris and Philip ten Bosch have been promoted to co-heads of global power investment banking at Citi.
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Infrastructure private equity firm I Squared Capital has named three new partners, in addition to three existing managing partners.
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Engie and EDP have signed a memorandum of understanding to create a co-controlled 50:50 offshore wind joint venture.
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A projects partner at Allen & Overy has returned to the U.S. after a five-year stint in South Korea.
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A 2.6 GW hydro project built in the Soviet Union in the 1950s is partly to blame for the decline of sturgeon that has devastated the Russian caviar industry, according to a British wildlife conservation researcher.
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Korea Electric Power Corp. has hired three bookrunners to run an investor roadshow ahead of a potential dollar-denominated green bond issuance as it looks to build a renewables portfolio in the U.S. through acquisitions.
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An influx of foreign capital from South Korea has flooded the generation space as lenders chase yield in the U.S.
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Three former executives at Venture Global LNG have founded a U.S.-based international investment firm with a focus on infrastructure.
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California-based 8minutenergy Renewables speaks to PFR about its plans to install 1 GW of storage projects in the next four years.
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The debt financing that closed this week for Competitive Power Ventures' 1,050 MW Fairview gas-fired project in Jackson Township, Pa., combined loans from commercial banks, South Korean institutions and three international investors.
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A former head of energy at BNP Paribas in New York has landed at BMO.
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LS Power refinanced two peakers in Illinois in early February, PFR has learned. Like other recently signed loans backing gas-fired projects in PJM Interconnection, the deal attracted interest from South Korean investors.
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TerraForm Global has released its delayed 2015 annual financial report, revealing a net loss of $371 million and project-level defaults as it works with its sponsor SunEdison to find a buyer.
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South Korean investors participated in a $435 million debt financing that closed last week for a portfolio of Dominion Resources solar projects in the U.S.
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Just over a year after the company was unveiled, General Electric-owned Current is undergoing a restructuring, PFR has learned.
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The recently completed 648 MW Kamuthi Solar project in Tamil Nadu, India, has set a new record as the largest solar project in the world.
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Ormat Technologies is looking to acquire geothermal and storage projects in the U.S. and further afield.
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SunEdison has entered settlement discussions with its yield companies, TerraForm Global and TerraForm Power, which have sued their sponsor over an alleged breach of their contracts.
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Institutional investors advised by JP Morgan Asset Management have acquired "substantially all" of the solar independent power producer Sonnedix.
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The #PowerTweets feature tracks trends in power project finance and M&A in the Americas on Twitter.
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Rothschild has sent out teasers and set a deadline for bids for SunEdison’s global project portfolio.
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SunEdison unlawfully misappropriated $231 million from TerraForm Global, according to a lawsuit filed by the yield company late on April 3.
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Apple Inc could use the proceeds of its $1.5 billion debut green bond, part of a $12 billion offering it priced on Feb. 16, to finance new and existing solar, wind and storage projects.
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Vision Ridge Partners has closed a $430 million sustainable asset fund and is looking to invest in renewable and other sustainable projects.
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SunEdision may rewrite or scrap a number of announced acquisitions, as the company continues to grapple with its hammering in the stock market.
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TerraForm Global has appointed a new executive v.p. and cfo. Alejandro Hernandez, who is executive v.p. and cfo of TerraForm Power, takes on the task of heading both of SunEdison’s yield companies.
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Solar developer Conergy has increased the size of its bank guarantee facility to $75 million with a $15 million commitment from Goldman Sachs BDC.
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University of Minnesota students have unveiled a solar-powered hybrid car that they will take to the other side of the world to race across Australia.
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Pristine Sun has signed a joint venture with a Chinese PV module manufacturer to develop part of a 572 MW portfolio that it is currently in the market to finance.
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KKR has taken an 80% stake in the solar development subsidiary of Spain's Gestamp, as private equity firms increasingly look to emerging markets for returns.
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Standard & Poor’s has given TerraForm Global its first credit rating, ahead of the yield company's inaugural bond issue.
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The Korea Development Bank has hired an experienced project finance banker from Mizuho as it seeks to bolster its presence in the Americas.
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SunEdison’s emerging market yield company launched its initial public offering and kicked off a roadshow for an $800 million green bond on Monday, both expected to be priced on July 30.
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Infigen Energy is selling a portfolio of U.S. wind projects to an ArcLight Capital Partners subsidiary for $272.5 million, marking its withdrawal from the U.S. wind market.
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TransAlta Corp. could drop a pair of recently acquired wind farms into its yield company, TransAlta Renewables, in a transaction which deal watchers say would enable the Canadian sponsor to meet its debt reduction target for the year.
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SunEdison could become the first sponsor to add solar storage assets to one of its yield companies through its partnership with Green Charge Networks, according to sources at the Belmont, Calif.-based company.
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PSEG Power's acquisition of Genesis Power and Ares EIF Management's 755 MW Keys Energy Center has led to the collapse of a debt financing deal backing the CCGT project, just when it was on the brink of closure.
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8point3 Energy Partners has raised $420 million in its IPO of 20 million class-A shares priced at $21 a share.
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Canadian Solar has secured a $250 million loan from Shanghai-based China Minsheng Bank, to finance its acquisition of Recurrent Energy and the construction of solar projects.
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SunEdison has set the pricing on two convertible bonds totaling $750 million that the company is selling via private placement to fuel its growth in emerging markets.
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SunEdison has tapped four banks as bookrunners for an IPO of its emerging markets yield company.
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Scores of project financiers, investors and sponsors descended on The Wynn Las Vegas for one of the largest events in the power industry calendar: the Platts’ 30th Annual Global Power Market Conference.
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An affiliate of Seoul, Korea-based natural gas distributor Samchully Group, is eyeing the U.S. market, following its purchase of a stake in the 570 MW Luna Energy CCGT facility in Deming, N.M.
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ICBC has hired Marcia Bockol, director of client coverage in the Americas at National Australia Bank, as an executive director in New York.
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An affiliate of Royal Dutch Shell is in advanced discussions with Gestamp Solar to acquire 280 MW of utility-scale solar assets in California.
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The Yieldco Sweep is an exclusive monthly feature that tracks the performance and activity of key yield companies in the power sector with illustrative graphics and market insight.
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The #PowerTweets feature tracks trends in power project finance and M&A in the Americas on Twitter.
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Summit Power Group is evaluating the construction costs of its 400 MW integrated combined cycle coal gasification project in Texas after labor costs surged past the original estimate and delayed the project.
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The global wind and solar joint venture between Acciona and KKR could hit the public markets in the first quarter.
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New Zealand-based retail energy company Meridian Energy has sold a solar facjility in California to SunEdison—the final step in Meridian’s exit from the U.S. power market.
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AMP Capital has raised another $450 million to take the overall amount in its AMP Capital Infrastructure Debt Fund II to more than $750 million.
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Acciona has taken initial bids from investors looking to buy into its 2.5 GW global wind and solar portfolio.
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Infigen Energy, the Sydney-based renewable shop widely known for its 1 GW of operational U.S. wind assets, is developing 600 MW of solar projects in the U.S—a pipeline that carries a roughly $1.8 billion price tag.
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Acciona, the construction and engineering firm out of Madrid, has launched a process to bring investors into its 2.5 GW global wind and solar portfolio.
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EDF Renewable Energy has bought a wind project in New Mexico just as it sold a majority stake in Shiloh IV wind farm.
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Essar Group, a multinational corporation based in Mumbai with steel, energy and infrastructure investments, is selling a cogeneration plant in Algoma, Canada.
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Infigen Energy has agreed to form a joint venture with JPMorgan Capital Corp. on tax equity stakes in a portfolio of nine of its wind farms.
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Private equity firm Power Capital Holdings has partnered with Hunt Consolidated subsidiary Hunt Power Capital Partners to launch its maiden power and energy play, Power Capital Partners.
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The International Finance Corp. has closed a $1.2 billion infrastructure investment fund, up from a proposed total of $1 billion.
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Ten years ago this week, the eight states in the U.S. and parts of Ontario experienced the worst blackout in North American history.
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Mitsui & Co. has agreed to buy a stake in Astoria Energy from GDF Suez North America.
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Summit Power Group is aiming to close a $1.5 billion debt facility backing its 400 MW Texas Clean Energy Project near Odessa, Texas, in October.
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Resort beaches are for more than just lounging.
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Cheniere Energy has increased the senior secured loan backing its Sabine Pass liquefied natural-gas export facility to $4.4 billion from $2.3 billion and netted $1.5 billion of additional debt from the Export-Import Bank of Korea and the Korea Trade Insurance Corp.
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In this week's round-up: Hydro is poised to continue its steady stream of deals while distributed generation solar developers gain traction from companies looking for expansion.
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In this week's round-up: Renewables are set for a growth spurt in Latin America and East Coast generation auctions lure investors.
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A woman joined with the light of her life knowing that the nuptials had a shelf life.
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Private equity and venture capital shops such as Draper Fisher Jurveston and Braemar Energy Ventures invested $5.8 billion in renewables companies in 2012, down 34% from 2011.
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Mitsui & Co. has bought a 50% stake in EDF EN Mexico’s MXN5.1 billion ($402 million), 164 MW Bii Stinu wind project in Oaxaca, Mexico.
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Mitsubishi Heavy Industries and Hitachi have agreed to join their fossil fuel power units, including their gas-fired turbine manufacturing operations, as a way to compete with established peers such as Siemens and General Electric Co. and emerging companies from Asia.
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A 94-turbine project developed by juwi Wind in Prairie, Ind., has been approved by the county council.
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The Bank of Tokyo-Mitsubishi has expanded its project finance outfit with two hires.
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Clarity on government incentives and international cooperation on financings would help alleviate some of the issues faced by financiers of renewable energy projects, according to the International Energy Agency.
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Empresa Electrica Guacolda SA, a power producer in Chile, is developing a 154 MW coal-fired project in Huasco, Chile, that is expected to go online in September 2015.
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Bith Energy, a Baltimore, Md.-based company that has been okayed to develop a 10 MW solar project in West Friendship, Md., is seeking additional approval to increase the size of the project.
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Yen Hua, former syndications v.p. at Royal Bank of Scotland, has reportedly taken a position at Bank of Tokyo Mitsubishi UFJ.
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Sydney-based Retail Employees Superannuation Trust is buying a stake in a pair of wind farms in Wyoming owned by Edison Mission Group, the Teachers Insurance & Annuity Association of America and Cook Inlet Region, Inc.
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Sharp Corp. outlined how it will return to profitability in a restructuring plan submitted to lenders on Monday.
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In this week's round-up: Tenaska Capital Management and Kruger Energy join in on the refinancing trend while some Asian investors scope for wind opportunities in Canada.
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In this week's round-up: Coal-fired generation takes a profound hit from lackluster power demand while project financiers play musical chairs.
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Exelon has sold stakes in a portfolio of five biomass and coal-fired plants in California to IHI Corp., a Tokyo-based engineering firm.
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Asian and U.S. lenders are stepping up project finance activity as European players scale back their efforts or step out of the market.
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Mitsubishi Corp. and Osaka Gas Co. have agreed to buy majority stakes in nine solar photovoltaic projects totaling 100 MW in Ontario from Recurrent Energy.
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Recurrent Energy has a short-list of buyers for a portfolio of solar photovoltaic projects in Ontario.
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There are two holidays this week, but only one—Father’s Day—is spurred by Hallmark.
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Goldman Sachs Group will invest $40 billion in renewable energy projects globally over the next decade.
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Suntech Power and Trina Solar are among Chinese solar panel makers that are expected to acquire components from Taiwan and Korea after the U.S. Department of Commerce imposed an anti-dumping tariff on Chinese polysilicon solar cells.
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The U.S. Department of Commerce issued a preliminary ruling on Thursday that indicates Chinese solar panel manufacturers sold solar panels and cells below fair price, thereby hurting American companies although China’s government denies that finding.
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Two Senate Democrats are proposing that Congress toughen the eligibility for the 30% investment tax credit on Chinese solar manufacturers.
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Chinese state utility State Grid Corp. is working on what is set to be the largest transmission project in the world.
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Global solar generating capacity is set to grow 200-400% over the next five years, with Asia poised to become the new solar leader.
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AES Corp is selling a majority of its assets in China, including wind and coal-fired generation.
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Canadian Solar has closed an agreement with the Bank of China for the financing of an Ontario solar project.
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General Electric Co. is shifting its focus from China to Australia as the company looks to tap the country’s booming energy business.
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General Electric is looking for $6 billion in renewables contracts in Australia by 2020.
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California-based SunEdison has completed a 25 MW solar project in Gujarat, India.
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Siemens CEO Felix Ferleman says the wind industry must quickly cut costs if it is going to be able to compete with other forms of generation.
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China is beginning to close the gap with the U.S. for renewable energy investments, according to a report from research group Pew Charitable Trusts.
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Chinese company ENN Group is planning a $5 billion solar project in Nevada.
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U.S. solar developers are looking to line up new sources of solar equipment to avoid a tariff on Chinese solar imports.
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GE has been selected to provide generating equipment for a 540 MW gas-fired project near Marble Falls, Texas, that will be owned by the Lower Colorado River Authority.
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Duke Energy has signed an agreement with China Power Investment Corp. to cooperate in developing nuclear energy technology.
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A U.S. court has decided that Mitsubishi Heavy Industries must pay $170 million to GE Electric Co. for patent infringement in a claim that Mitsubishi Heavy violated a patent that allows wind turbines to connect to the power grid.
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Chinese energy developer ENN Group Co. has signed an agreement with state regulators to develop a solar project in southern Nevada.
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AES is planning to sell part or all of its business operations in China.
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U.S. wind systems manufacturer AMSC is suing Chinese company Sinovel Wind Group for copyright infringement in Chinese court.
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Total global wind generating capacity increased 6%, or 41 GW, in 2011.
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Chinese company GCL-Poly and New Jersey-based NRG Solar have launched a joint venture in the U.S.
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Chinese developer Goldwind has bought a 20 MW wind project near Shawmut, Mont.
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Duke Energy and other big corporate borrowers are looking beyond their relationship European lenders to fortify credit lines in light of the European debt crisis.
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GCL Solar Energy is looking for at least $200 million in debt supporting a large photovoltaic project in Puerto Rico.
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U.S. Power Generating is looking to sell two of its four floating power barges in Brooklyn’s Gowanus Canal totaling 309 MW.
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Solar Power Inc. has secured a $44 million financing from China Development Bank for a project in New Jersey.
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Chinese company China Three Gorges aims to make Portuguese utility EDP into a leading global energy outfit after it purchased a 21% stake in the utility.
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Pacific Hydro is sounding out lenders about funding wind and run-of-river projects in Chile and Brazil next year.
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Perennial Power Holdings, a subsidiary of Sumitomo Corp., is selling at least part of its 300 MW cogeneration facility in Kathleen, Ga.
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Companies in Japan are using solar power to brighten up the holidays despite power shortages stemming from nuclear reactors going offline.
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China is considering resuming construction on some new nuclear reactors.
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Global investment in renewables generation may double to $395 billion, according to Bloomberg New Energy Finance.
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Petronet LNG, India’s largest liquefied natural gas importers, is looking to take minority stakes in U.S. terminals, given the expected growth in gas production in the U.S.
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Exelon will give state-owned China National Nuclear Corp. consulting and training services to help them develop nuclear generation.
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Ditlev Engel, ceo of Vestas Wind Systems, contends that the expiration of the production tax credit after 2012 may prompt wind turbine sales in the U.S. to “fall off a cliff.”
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Executives at Southern Co. and American Electric Power contend that air-pollution standards expected to be imposed on coal-fired plants next month by the U.S. Environmental Protection Agency are impossible to meet.
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Michael Madigan, speaker of the Illinois House of Representatives, is opposing a proposed deal between Edison Mission Group subsidiary Midwest Generation and Chicago Mayor Rahm Emanuel to close the 50-year-old Fisk and Crawford coal-fired plants in exchange for state subsidies to benefit a new 240 MW wind project.
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The U.S. Department of Commerce has begun investigating claims that Chinese solar-panel makers are dumping their products in the U.S., thus disrupting the domestic industry.
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Korea Electric Power Co. is looking for wind and solar project acquisitions in the U.S. and Canada as a way to meet its domestic renewable portfolio standard.
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CECEP Solar Energy Technology Co. will shelve plans for projects in California, New Jersey and Texas if the U.S. imposes duties on solar panel imports.
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Anti-dumping or countervailing duties could be imposed on photovoltaic cells imported from China starting this fall at the earliest, but more likely after a date in the spring or summer 2012.
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Korea Midland Power Co. and Posco Engineering Co. have been awarded a contract to develop a $1 billion, 300 MW solar project in Boulder City, Nev.
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Tokyo Electric Power Co. is expected to receive financial assistance from the Japanese government after the utility company sought JPY1 trillion ($13 billion) in public funds last week.
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The Oklahoma Corporation Commission has approved public utility status for Clean Line Energy, which is developing an 800-mile, $3.5 billion transmission project to ship wind power to Tennessee.
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Panasonic has halted plans to convert a factory that makes plasma TV panels to a solar panel manufacturing facility as a global glut of panels has driven cost competition.
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Tokyo Electric Power Co. is considering selling a 20% stake in wind developer Eurus Energy to co-owner Toyota Tsusho.
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China has slammed the trade complaint filed by seven U.S. solar manufacturers.
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Government of Singapore Investment Corp. is preparing to get a seat on the board of Star West Generation, alongside its newly inked direct investment in the independent power producer owned by Highstar Capital.
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Wind and solar financing globally reached a record $41.8 billion in the last quarter, fueled by the $6.3 billion financing of 1 GW of offshore wind projects in the North Sea, according to a report by Bloomberg New Energy Finance.
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China Guangdong Nuclear Power Holding Co. has reinitiated talks with U.K.-based Kalahari Minerals about acquiring a stake in a uranium deposit in Namibia.
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Tuusso Energy, a Seattle-based developer, and Akula Energy Ventures, an early stage investor in Tuusso’s project pipeline, are nearing the sale of a 20 MW solar project in California.
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A panel of experts advising Tokyo Electric Power Co. says the utility will fall into $20.8 billion of debt if it does not restart nuclear reactors and raise electricity prices.
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SolarWorld, a Hillsboro, Ore.-based panel manufacturer, is readying a trade complaint against China over subsidized imports.
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Vietnam and Japan Atomic Power, a consortium of nine Japanese utilities that includes Tokyo Electric Power, have signed a deal to conduct a feasibility study for two new reactors.
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Goldman Sachs will invest up to $201 million in ReNew Wind Power, an Indian company launched by Sumant Sinha, a former coo at Suzlon Energy.
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Access Capital Advisers, an Australian infrastructure investment manager, is looking to invest $1 billion in the U.S. and globally on behalf of Australian pension funds.
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Japan is aiming to restart nuclear reactors, idled after the March disaster at the Fukushima plant, by next summer.
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Xinjiang Goldwind Science and Technology is planning to build a $200 million, 109.5 MW wind project in Lee County, Ill.
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Japan is planning to build a floating offshore wind farm near the damaged Fukushima nuclear plant.
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Gamesa Energy will look to grow in Asian wind markets as the company tries to compensate for falling installation rates in the U.S. China and India are expected to offset the donwturn, said Stephen Brownell, acting general counsel at Gamesa at Stroock & Stroock & Lavans 2011 Evolving Energy Industry Directions in New York.
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Softbank Corp., the Japanese telecom company, plans to invest $129-257 million in its founder Masayoshi Son’s new generation business.
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Hong Kong-based ENN Group is planning to invest about $8 billion in U.S. clean energy projects over the next decade.
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AES Corp. had wrapped a $1.5 billion non-recourse financing backing its 1.2 GW Mong Duong II coal-fired plant in Quang Ninh Province, Vietnam.
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GE Energy Financial Services is taking a stake in a 10 MW solar photovoltaic project in Western Australia.
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The Japanese parliament is expected to pass an energy bill to reduce the country’s dependence on nuclear generation after the disaster at the Fukushima nuclear complex.
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India likely will likely receive $575 million for solar deals from the U.S. Export-Import Bank next year.
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