Canada
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Waga Energy is commissioning a renewable natural gas (RNG) production unit at a landfill site in Quebec, Canada.
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For more than 7 months the government of Alberta paused the approval of new renewable energy projects causing a multi-gigawatt logjam with upwards of $25 billion of investment sat idle.
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M&A and tax advisory firm Leo Berwick has launched its infrastructure, renewables and energy transition financial advisory group, led by former Deloitte partner Colin Schmidt.
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The Canada Growth Fund (CGF) will invest up to C$1 billion ($734m) toward the development of Strathcona Resources carbon capture and sequestration (CCS) infrastructure.
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Entropy, a carbon capture and sequestration (CCS) developer subsidiary of Advantage Energy, has reached Final Investment Decision for its Glacier Phase 2 project.
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SolarBank Corporation has closed its acquisition of Ontario, Canada's solar development and investment business Solar Flow-Through Funds (SFF).
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Ontario-based renewables developer Compass Greenfield Development has closed a CA$49.5 million ($36.29 million) non-recourse project financing for battery storage projects from Selkirk Advisory Group.
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Canadian Infrastructure Bank has finalised a C$283.5 million (US$208m) loan to two Alberta transmission companies to construct a new transmission line.
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Pembina Gas Infrastructure, a joint subsidiary of KKR and Canada's Pembina Pipeline Corporation, will acquire a 50% interest in Whitecap’s 15-07 Kaybob Complex for $420 million.
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Shell has reached the Final Investment Decision (FID) for its Polaris project, a carbon capture project at the Shell Energy and Chemicals Park, Scotford in Alberta, Canada.
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Mitsubishi Heavy Industries and Export Development Canada are some of the latest investors in a $31 million Series A2 financing for energy storage company e-Zinc.
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Low-emission fuels producer ClearSky Global has inked a $168 million investment from a private ESG-focused investment group.
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British Columbia-based Cedar LNG, a partnership between Pembina Pipeline and the Haisla Nation, has reached final investment decision.
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EverGen Infrastructure through subsidiary Fraser Valley Biogas has entered into a 20-year agreement with FortisBC Energy for the supply of renewable natural gas.
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Nuclear Fuels has appointed Gregory Huffman as chief executive officer, president and director, effective immediately.
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Canadian pipeline and energy company Enbridge has partnered with Six Nations Energy Development, an energy investment-focused consortium of 6 First Nations, to build a 200MW wind project in Weyburn, Saskatchewan.
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Independent Canadian fuel distributor and retailer Parkland Corporation is seeking a buyer for its platform.
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Pattern Energy has signed a 30-year PPA with Hydro-Québec for its 150MW Broughton Wind project, located in Québec.
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Abraxas Power has selected McDermott as its EPC contractor for the Exploits Valley Renewable Energy Corporation (EVREC) project in Newfoundland and Labrador, which will be Canada's first commercial green hydrogen project.
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Tax advisory firm Leo Berwick has hired Colin Schmidt as of the firm's infrastructure, renewables, and energy transition financial group.
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Strategic Value Partners (SVP) and EverGen Power have launched a partnership to invest in North American natural gas generation.
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EDP Renewables North America has secured the rights to sell energy, capacity and ancillary services from its Edgeware BESS battery storage facility in Ontario.
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Export Development Canada (EDC) has led a $136 million equity financing for FLO, a North American EV charging hardware and software provider.
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The Canada Growth Fund (CGF) has teamed up with Gibson Energy and Varme Energy to develop Canada's first waste-to-energy facility with carbon capture technology.
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The Canada Pension Plan Investment Board (CPPIB) has named 3 regional heads to cover Europe and North America for its sustainable energies team.
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Brookfield Infrastructure Partners is selling its Canadian gas gathering and processing business, NorthRiver Midstream, to unlisted infrastructure business Kiara Infrastructure Private Limited, PFR has learned.
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Canadian power provider Hydro One has hired Harry Taylor as executive vice president and chief financial and regulatory officer, effective 10 June (2024).
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Canadian pipeline and energy company Enbridge has closed on its acquisition of Dominion Energy’s Questar Gas and Wexpro assets for around $4.3 billion.
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Hydro-Québec has revealed plans to add 10GW of wind generation over the next decade, including several First Nations-owned 1GW-sized projects.
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NOVA Infrastructure is acquiring listed solar and storage developer UGE International in a deal that values the company at C$72 million.
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The Canada Infrastructure Bank (CIB) will loan HTEC C$337 million ($247m) to accelerate hydrogen production and refuelling infrastructure in British Columbia and Alberta.
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Hydro-Québec has signed a power purchase agreement (PPA) for the full capacity of electricity generated by the 300MW Peshu Napeu wind project.
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Energy giant AES has issued $950 million aggregate notes due 2055 at 7.6% to fund the development or redevelopment of clean power projects.
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Canadian power company TC Energy is appealing the Delaware Chancery Court ruling to pay $199.2 million in damages as part of an ongoing class action lawsuit related to its 2016 acquisition of Columbia Pipeline.
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Ontario Independent Electricity System Operator (IESO) has awarded offtake contracts to 13 battery storage, natural gas, and biogas projects, totalling 2.19GW — the capacity needed to power Toronto.
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Alberta, Canada-based Capital Power has cancelled its $2.4 billion Genesee carbon capture and storage (CCS) project after determining the project was not financially viable.
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Hitachi Energy has invested more than $100 million alongside Investissement Quebec to upgrade and modernise its power transformer factory in Varennes and other facilities in Montreal.
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NextEnergy Capital’s fifth fund has raised $745 million, nearing half of its $1.5 billion target.
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Asset management firm Connor, Clark & Lunn Infrastructure (CC&L) has closed on the acquisition of an 80% stake in the Sharp Hills wind farm from EDP Renewables Canada (EDPR Canada).
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Oil, gas and NGL company Chord Energy and Canadian O&G giant Enerplus have cleared the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for their $11 billion business combination, PFR has found.
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Enbridge subsidiaries Enbridge Energy Partners and Spectra Energy Partners have closed on their offering of $3.5 billion in senior notes, PFR has learned.
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Canadian Solar subsidiary Recurrent Energy has secured a €110 million ($120m) multi-currency facility from a consortium of banks led by Investec to support its solar and storage project pipeline in Canada, the US, and abroad.
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Carbon removal credit platform Deep Sky and hybrid direct air capture (HDAC) company Avnos have partnered to incorporate their technologies at Deep Sky's lab in Canada.
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Enbridge has closed on the sale of its 50% stake in the Alliance Pipeline and its 42.7% stake in Aux Sable to Pembina Pipeline.
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Northland Power has begun the search for a chief executive with incumbent, Mike Crawley, set to leave the firm in September.
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EverWind Fuels has signed a green hydrogen memorandum of understanding (MoU) with Nova Scotia-based energy distribution company Eastward Energy.
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TC Energy and partner Northern New England Investment Company are to sell the Portland Natural Gas Transmission System (PNGTS) to BlackRock and investment funds managed by Morgan Stanley Infrastructure Partners (MSIP).
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The Government of Canada has closed its second green bond issuance, a C$4 billion ($2.9 billion) 10-year green bond, becoming the first sovereign borrower to issue a green bond that includes nuclear expenditures.
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Germany-headquartered global asset management group IKAV and asset manager Canadian Plan Pension Investment Board (CPPIB) will each obtain at least 10% stake in California Resources Corporation from owners BlackRock and Vanguard Group.
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Investment bank Moelis & Company has hired Stephen Trauber, formerly Citi's global head of energy transition, as chairman and global head of its energy and energy transition team.
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Mercedes-Benz HPC North America has hired several executives in a push to create a network of electric vehicle (EV) charging stations across the country.
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Capital Power has closed on its acquisition of 2 contracted combined-cycle US gas generation facilities from Beal Financial Corporation subsidiary CSG Investments.
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Construction giant Kajima has invested in a Canadian geothermal energy technology company, Eavor Technologies.
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Sustainable infrastructure company Generate Capital is to sell a 13.45% stake in Pine Gate Renewables to the Healthcare of Ontario Pension Plan Trust Fund (HOOPP), PFR has found.
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Asset management firm Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) will acquire a majority stake in the Sharp Hills wind farm from EDP Renewables subsidiary EDP Renewables Canada (EDPR Canada).
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BP Energy Partners-owned Cryopeak LNG Solutions has merged with the Energy & Minerals Group-owned Ferus Natural Gas Fuels, combining their LNG production and distribution technologies.
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Swedish industrials business SKF has signed 2 Renewable Energy Certificate (REC) purchase agreements in North America.
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Emre Erkovan has been appointed as CIBC Capital Market’s global investment banking director, overseeing energy, infrastructure and transition sectors.
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Canadian independent power producer Innergex Renewable Energy, along with its community partners, has won 2 wind projects totaling 400MW in Hydro-Québec's request for proposals (RFP).
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The City of Edmonton, Alberta and Canadian-based Varme Energy have struck a waste-to-energy offtake deal.
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Azure Sustainable Fuels is set to develop Sustainable Aviation Fuel (SAF) production facilities in British Columbia, Ontario, and Manitoba, Canada, after receiving funding from several Canadian investment institutions.
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Capital Power Corporation and Ontario Power Generation (OPG) have joined forces to assess the development of grid-scale, small modular reactors (SMR) in Alberta, Canada.
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Brookfield Renewable has issued C$400 million (US$298.5 million) of medium-term loans to pay for future green investments and repay indebtedness incurred in previous ventures.
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Oil and gas multinational Shell has signed a 20-year liquid natural gas (LNG) sale and purchase agreement to purchase 2 million tons of LNG from Ksi Lisims LNG's British Columbia-based project per year.
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Canadian-based carbon capture business Svante Technologies (Svante) has appointed Justine Fisher as its new chief financial officer (CFO).
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Canadian power provider Hydro One will commence an internal and external search this summer for a chief financial and regulatory officer as incumbent Chris Lopez leaves June 30, 2024.
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Southwest Gas Holdings has appointed William “Bill” Fehrman as president and chief executive of Centuri Group, effective January 12, 2024.
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Crescent Point Energy has closed on its acquisition of Canadian Riverstone Holdings-owned oil and gas business Hammerhead Energy.
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Renewables and utility project developer Invenergy has opened a regional office in Montreal, becoming the company’s Quebec-based hub for Eastern Canada.
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Canadian province Newfoundland and Labrador (NL) has signed a memorandum of understanding (MoU) with the federal government to become a lead regulator on offshore wind projects in 16 inland bays in the province.
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Southwest Gas Holdings, (Southwest Gas ) will pursue an initial public offering (IPO) of newly issued Centuri Holdings shares during spring or summer of 2024 as the companies look to separate.
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Power Sustainable has committed C$200 million to reach a final close on the second vintage of its energy infrastructure strategy at C$800 million.
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The Canada Infrastructure Bank (CIB) has launched the Indigenous Equity Initiative (IEI) to support First Nation, Metis and Inuit communities in purchasing equity stakes in CIB-backed infrastructure projects.
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KKR-backed investment firm BlackGold Capital Management has closed a deal for US-based energy infrastructure lender Northbase Finance.
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Sumitomo Corporation of Americas (SCOA) has signed a Memorandum of Understanding (MoU) with international trade and development company Invest Alberta to support its energy infrastructure projects in Alberta, Canada.
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Capital Power has acquired two contracted combined-cycle US gas generation facilities from Beal Financial Corporation subsidiary CSG Investments.
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Copenhagen Infrastructure Partners (CIP) has launched a platform for the development and realization of renewable projects in Canada, Horizon New Energy, as part of the firm's expansion into the Canadian market.
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Canada-based green hydrogen developer EverWind Fuels has secured a C$125 million (USD $ 91.2 million) debt facility from Export Development Canada (EDC) to put toward its Tupper Point, Nova Scotia-based green hydrogen and ammonia project.
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Canadian independent power producer Innergex Renewable Energy has closed a $185 million financing deal for three unlevered hydro assets in Quebec and British Columbia, totaling 107MW.
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Oceanic Wind Energy has renegotiated its agreements with green power developer Northland Power, taking back its 400MW Hecate Strait offshore wind project in British Columbia.
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Volvo Group has won the winning auction bid to acquire the Proterra Powered business and assets of recently bankrupt electric vehicle (EV) battery developer Proterra.
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Suncor is offering C$1.468 billion ($1.5 billion) in unsecured senior notes to fund its acquisition of TotalEnergies Canada.
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EverGen Infrastructure has signed a 10-year offtake contract with Irving Oil for the supply of renewable natural gas (RNG).
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Uranium mining company Cameco Corporation and Brookfield Renewable Energy have closed on the joint acquisition of nuclear services business Westinghouse Electric Company on November 8, 2023.
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Ontario, Canada’s government has established Ontario Infrastructure Bank (OIB) to expand infrastructure investments in the province with a proposed $3 billion in public funding at launch.
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Private investment giant Ardian has opened an office in Montréal, its first in Canada and third in North America.
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Braya Renewable Fuels has named former Delek executive, Todd O'Malley, as chief executive.
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Global infrastructure investment manager Wren House has appointed Anne McEntee as managing director in its New York asset management team.
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Industrials company Lafarge Canada and ATCO's subsidiary Canada Utilities have signed a 12.5-year solar virtual power purchase agreement (VPPA) to supply Lafarge's Exshaw cement plant with 79.9GWh — 34% of the plant's power — of renewable energy.
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Maritime Electric Company, a Prince Edward Island (PEI), Canada-based utility, has received $19 million from the Canadian government for its sustainable electrification initiative aimed at updating the local grid and critical connection areas.
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Gibson Energy has entered a 15-year power purchase agreement with Capstone Infrastructure and Sawridge First Nations to take power from the Buffalo Atlee 2 and 4 wind farms.
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FortisBC has begun expanding methane capture infrastructure at the Delta landfill to advance its renewable natural gas offtake agreement with the City of Vancouver. Per the agreement, FortisBC will turn waste from the Delta landfill into RNG and sell it to the city.
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BC Utilities Commission, the regulator of British Columbia’s public energy utilities, has named Mark Jaccard as its chair and chief executive.
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Clean power producer, developer, and energy storage company FirstLight Power has finalized its agreement to acquire Hydroméga Services, including ownership interest in five hydropower generating stations in Québec and five in northeastern Ontario.
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MUFG has refinanced its $500 million credit facilities for a natural gas-fired plant portfolio, Invenergy Thermal Operating I, owned by Invenergy and InfraBridge. The portfolio includes four operational plants, totaling 2.29GW, which are located in the US and Canada.
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Canadian green hydrogen developer EverWind Fuels has won a bid from the Newfoundland government to develop a green hydrogen project on the Burin Peninsula, Newfoundland.
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Greenbacker Renewable Energy Company (Greenbacker) has closed on a warehouse financing facility in an initial aggregate principal amount of $75 million to support the construction and operation of its renewable power generation and energy storage portfolios.
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Algonquin Power & Utilities (AQN) will pursue the sale of its Renewable Energy Group and commence leadership changes with a new interim chief executive.
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The Alberta government has paused approval of renewable generation projects as the Alberta Utilities Commission (AUC) reviews recent policy issues and competing public interest factors.
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Peregrine Energy Solutions, a Boulder, Colorado-based BESS developer and renewable energy platform, has signed a Memorandum of Understanding (MoU) with Six Nations of the Grand River Development Corporation (SNGRDC) to create utility-scale battery storage projects in the Canadian market.
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Hydro One, Ontario's largest transmission and distribution provider, has filed an application with the Ontario Energy Board (OEB) to build and run its proposed $1.2 billion Waasigan Transmission line, which will provide energy to northwestern Ontario.
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German manufacturer RCT Solutions has signed a memorandum of understanding (MoU) with the government of Manitoba, Canada to build a solar PV factory with a 10GW capacity.
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Desjardins Group Pension Plan and DGAM Global Private Infrastructure Fund II have together acquired 37.5% ofCanadian wind farms Cypress 1 & 2 from EDF Renewables.
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EverWind Fuels, Canada-based green hydrogen producer, has acquired three wind farm developments totaling 530MW to power green hydrogen and ammonia projects.
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Canadian Solar is hiring in its c-suite after the retirement of Jianyi Zhang as chief legal officer, chief compliance officer, and corporate secretary after seven years with the company.
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Pattern Energy has completed construction and begun operation at its 150MW Lanfine Wind power project in Alberta, Canada.
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EVLO Energy Storage, the battery energy storage systems developer subsidiary of Hydro-Québec, has launched its first utility-scale storage project in the US.
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The Ontario government is prepping for three additional small modular reactors (SMRs), for a total of four SMRs, with Ontario Power Generation (OPG) at the Darlington nuclear site as it continues its nuclear push.
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RS Technologies, a portfolio company of Werklund Growth Fund and Energy Impact Partners, closed a multi-bank credit facility with JP Morgan, Bank of Montreal, The Toronto-Dominion Bank, and Export Development Canada.
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The Ontario government has begun pre-development work siting the first large-scale nuclear build in more than 30 years.
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Schneider Electric, the energy management business, has appointed Xavier Biot as vice president, Power Distribution & Digital Energy in Canada.
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Recurrent Energy, a development company owned by Canadian Solar, has secured a €150 million multicurrency facility with Santander Corporate & Investment Banking.
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Canada-based EverWind Fuels Company is supportive of Nova Scotia's recently published Offshore Wind Roadmap and the province's efforts to become a global leader in renewable energy.
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The Canada Infrastructure Bank (CIB) has ramped up investing in recent times with $3 billion deployed in clean energy projects – out of a near $10 billion total – and having doubled its cumulative deal volume hitting back at critics who said it was not putting capital to work quick enough.
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North American renewables and storage developer Nexus Renewables announced the closing of multiple financings totaling $40 million.
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Renewable developer Ameresco has entered a joint venture with Atura Power to develop a 250MW and 1GWh battery storage system in Ontario, Canada.
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DIF Capital Partners (DIF) has signed an agreement to acquire a 75% interest in Canadian geothermal energy company Diverso Energy.
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SFC Energy, a supplier of hydrogen and methanol fuel cells, has opened 2 competence centers for hydrogen fuel cell technology in Calgary and Toronto.
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The Canada Infrastructure Bank (CIB) this week (17 April) reached an agreement to invest around C$100 million ($74.74 million) in Noventa Energy Partners, a renewable energy company that provides services to decarbonize the heating and cooling of buildings.
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Marathon Capital, the sustainable-energy-focused investment bank and financial advisor, has named Iain Watson country manager of its Canadian operations.
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The governments of Canada, Nova Scotia, and Newfoundland and Labrador have begun regional assessments for offshore wind development.
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The Ontario Teachers' Pension Plan Board has agreed to acquire a majority stake in renewable natural gas developer (RNG) Sevana Bioenergy.
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Public utility Hydro-Québec has selected three EDF Renewables North America wind projects for wind energy supply contracts under two calls for tenders launched in December 2021.
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EverWind Fuels has secured environmental approval for the initial phase of its green hydrogen and green ammonia projects located in Nova Scotia.
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Vancouver-based Westbridge Renewable Energy has acquired the Red Willow Project, a 295MWp solar photovoltaic and 100MW/200MWh battery energy storage system (BESS).
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An evergreen renewable energy platform with a global strategy has launched with news of its first acquisition – a construction-ready wind farm in Canada – and a keystone investor.
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Canadian renewables developer Westbridge Renewable Energy Company has expanded its Sunnynook Solar PV project in Alberta to 330MWp.
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EverGen Infrastructure Corp. has secured a $31 million syndicated senior term loan facility from its existing lender Roynat Capital – a subsidiary of the Bank of Nova Scotia and Export Development Canada (EDC).
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ATCO, through its investment in Canadian Utilities, has completed its previously announced acquisition of a renewables portfolio from Suncor Energy for C$730 million ($536m).
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Nova Scotia-based financial advisory firm Northgreen Capital has appointed Philip Bassil as managing director and head of global offshore wind M&A.
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Private equity behemoth Blackstone is preparing a $325 million credit facility for portfolio company Aypa Power.
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Brookfield’s latest flagship investment vehicle Brookfield Infrastructure Partners V has brought in $20.7 billion in commitments to date.
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The Canada Infrastructure Bank (CIB) has teamed up with Ontario Power Generation (OPG) and committed $970 million towards Canada’s first small modular reactor (SMR).
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EverGen Infrastructure Corp has appointed Vancouver-based Sean Hennessy as chief financial officer (CFO), effective immediately.
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Canadian Utilities has agreed to acquire a Canada-based renewables portfolio from Suncor Energy for $730 million.
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InfraRed Capital Partners has entered into an agreement to purchase stakes in four wind projects in the US and Canada from Canadian outfit Algonquin Utilities & Power Corp.
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The Canada Infrastructure Bank (CIB) has launched its C$500 million (US$365 million) zero-emission vehicle (ZEV) charging and hydrogen refuelling infrastructure initiative (CHRI).
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Canada’s Algonquin Power & Utilities Corp. has agreed to a new transaction price for its acquisition of American Electric Power's (AEP) utility subsidiary Kentucky Power and its transmission business AEP Kentucky Transco.
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Enbridge, the Canadian energy giant, has bolstered its position in North American renewables with the acquisition of Tri Global Energy (TGE) for $270 million in cash and assumed debt.
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The Canadian province of Nova Scotia has set a goal of reaching 5 GW of offshore wind generation by 2030, outlining plans for an offshore leasing process.
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Slate Asset Management has entered into a strategic partnership with a Canadian renewables developer through the purchase of a minority stake in the platform.
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German renewable developer ABO Wind has sold its Buffalo Plains wind farm located in Alberta, Canada.
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Buckeye Partners has completed its acquisition of Bear Head Energy, owner of a clean energy development project in Point Tupper, Nova Scotia.
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The four-strong HSBC project finance team in Toronto has been served its notice as the bank continues its strategy of shaving numbers.
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Capstone Infrastructure has secured a renewable attributes purchase agreement for the output of its 192 MW wind project in Alberta, Canada.
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Canadian bank CIBC has added three new members to its energy, infrastructure and transition investment banking group after news broke that Neil Davids had joined the bank earlier this month.
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Canadian power company Northland Power has converted a $50 million letter of credit facility into a sustainability-linked agreement, which is backed by Canada’s export credit agency.
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Cordelio Power has appointed a new chief financial officer from Canada Pension Plan Investment Board (CPP Investments) and added an innovation leader.
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Toronto-based developer, Potentia Renewables, has secured financing for a 548 MW portfolio of wind projects the company is developing in the Canadian province of Alberta.
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The Government of Canada has made the country’s inaugural C$5 billion green bond issuance after issuing its green bond framework earlier this month.
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Pomerlau Capital, the infrastructure financing arm of Canadian construction company Pomerlau, has launched a North American renewables and infrastructure-focused fund.
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BBGI Global Infrastructure has invested C$41 million ($32.1 million) in the vehicle responsible for delivering the John Hart Generating Station Replacement P3 hydro project in Vancouver.
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Canada Infrastructure Bank (CIB) has appointed Evelyn Joerg as CFO in Toronto.
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Fengate Asset Management and Ironclad Energy Ventures have formed a joint venture to acquire and operate cogeneration, district energy and other industrial generation projects across the US and Canada.
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Parag Patel, a vice president focused on power and renewables in Prudential Private Capital's real assets group, has left after 15 years with the firm.
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Power Finance & Risk is pleased to announce that nominations are now open for its 19th Annual Deals and Firms of the Year Awards.
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Canadian renewables project developer Saturn Power has secured financing for a utility-scale solar project in Saskatchewan.
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An EDP Renewables executive has left the firm after a decade with the company to launch his own venture.
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