Coal-fired
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California-based asset management firm TCW Group will divest its 19.64% ownership of Pennsylvania’s Homer City Generation to funds managed by distressed asset-focused investor Knighthead Capital Management, PFR has learned.
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DTE Energy is planning to convert a portion of its retired Trenton Channel coal power plant in Michigan to a 220MW/800MWh battery energy storage system.
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Biocarbon producer Aymium has closed a $210 million financing from Copenhagen Infrastructure Partners and ECP ForeStar for its Williams production facility at a former California coal plant.
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Louisiana power company Cleco Corporate Holdings has closed on the $600 million sale of its unregulated electric utility business, Cleco Cajun, to private equity firm Atlas Holdings, PFR has learned.
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Babcock & Wilcox (B&W) has signed an agreement with NorthStar Clean Energy to convert a former coal-fired power plant to a bioenergy with carbon capture and storage facility.
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The $10 billion Texas Energy Fund (TEF) opened its loan program on 1 June with more than 65 applicants submitting proposals totalling 48GW.
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The Minnesota Public Utilities Commission (MPUC) has approved Otter Tail Power's long-term electric generation and investment plan after the utility agreed to exit the Coyote Station coal plant by 2031.
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Engie has requested permission to cease operations of its remaining coal-fired power plants in Chile.
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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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Granite Shore Power has announced the retirement of its 439MW Merrimack coal plant in 2028, marking the end of the last operating coal plant in New England.
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Babcock & Wilcox's (B&W) thermal subsidiary has signed a $246 million agreement to complete a 1GW coal-to-natural gas conversion project.
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Brazil’s Eletrobras has closed the sale of the last coal-fired power plant the company owns in the country.
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Southern Company subsidiary Georgia Power Company (GPC) will sell multiple specified transmission lines to Georgia Transmission Corporation (GTC), PFR has learned.
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US-based utility and renewable energy developer Allete is contemplating the sale of its business, and has enlisted JP Morgan Chase for the potential sale process.
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The New Mexico Public Regulation Commission (PRC) has approved Xcel's early closure of its 1.067GW coal-fired Tolk Generating Station in 2028.
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EDP, through its subsidiary EDP Brasil, has signed a sale and purchase agreement to sell a coal-fired power plant in Brazil.
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Brazilian utility Eletrobras is offloading the company’s last coal-fired asset it operates in the country.
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AES Andes is planning to retire another unit of the Ventanas coal-fired power plant in Chile two years ahead of schedule.
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The Public Service Company of New Mexico (PNM) has reached an agreement with local legal authorities on the retirement of the San Juan coal plant under the Energy Transition Act.
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The New Mexico Supreme Court has ruled to uphold the New Mexico Public Regulation Commission (NMPRC) decision that denies the Public Service Company of New Mexico (PNM) sale of its minority interest in the Four Corners Power Plant.
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Engie Brasil Energia has closed the sale of the company’s last coal-fired power plant in Brazil, making it 100% renewable power generator in the country.
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AES Andes is retiring the company’s Norgener coal-fired power plant in Chile.
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Chilean state-owned mining company Codelco has signed a contract with local electricity utility AES Andes to replace coal supply at 2 mines with renewables.
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AES Andes is planning to repurpose one of its coal-fired power plants in Chile to develop renewable energy.
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Energy Harbor Corp, an energy company that is partially owned by Nuveen Asset Management and Avenue Capital, has agreed to sell and then deactivate a pair of its coal plants totaling almost 3GW of generation as it looks to decarbonize its asset fleet.
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Public Service Company of New Mexico (PNM), a utility subsidiary of energy company PNM Resources, has retired the last unit of a coal-fired San Juan power plant.
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Engie Brasil Energia has signed a share purchase and sale agreement that will see the company let go of its last coal-fired power plant in Brazil.
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Chile is retiring three coal-fired power plants with a combined installed capacity exceeding 380 MW as part of its plan to decarbonize the country's power grid.
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MetLife Investment Management (MIM) has provided $200 million in financing to support the shuttering of two coal-fired plants in New Jersey owned by Starwood Energy Group.
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The New Jersey Board of Public Utilities (NJBPU) has approved a request from Atlantic City Electric (ACE) to alter its power purchase agreements with a pair of coal-fired projects in the state, halting the use of coal at both plants.
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Missouri-based coal producer Peabody Energy has launched a renewables development platform called R3 Renewables through which it plans to develop and acquire 3.3 GW of solar and 1.6 GW of energy storage capacity over the next five years.
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PNM, the New Mexico utility subsidiary of PNM Resources, has filed a notice of appeal with the New Mexico Supreme Court after the utility’s application to divest its interest in the Four Corners coal-fired power plant was denied by the New Mexico Public Regulation Commission (NMPRC).
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Starwood Energy Group has agreed to purchase an outstanding 40% share in a 262 MW coal-fired plant it co-owns with Atlantic Power.
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Brazilian power regulator Aneel and electricity commercialization chamber CCEE have completed an October capacity auction and are working on two new procurement processes.
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A buyer north of the border has emerged for American Electric Power's regulated utility subsidiary Kentucky Power and its regulated transmission business AEP Kentucky Transco.
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Connecticut-based asset manager Atlas Holdings has agreed to acquire the remaining stake in a 1,110 MW fleet of mostly fossil fuel-fired peaking plants that it doesn't already own through a joint venture with a commodities trader.
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DTE Energy has brought forward the deadline for ceasing coal use at the Belle River Power Plant in Michigan by two years.
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Minnesota-based utility company Otter Tail Power Co is preparing to sell its stake in a 420 MW coal-fired power plant in North Dakota.
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A spate of thermal and renewable M&A deals has been launched into the Brazilian power market, with sponsors across the country putting their operational power plants up for sale.
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Engie's Brazilian subsidiary, Engie Brasil Energia, has locked in a buyer for an 857 MW coal-fired power plant in the country while concurrently taking bids for another coal-fired asset.
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Public Service Enterprise Group (PSEG) has agreed to sell its 6.75 GW fossil fuel portfolio to ArcLight Capital Partners, following an auction process that launched around this time last year.
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AES Andes, previously known as AES Gener, has completed the sale of its 50% stake in the 764 MW Guacolda coal-fired power plant in Atacama.
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Vistra Corp is bringing forward the retirement date of its 1.3 GW coal-fired Zimmer Power plant in Moscow, Ohio, after the plant failed to secure any capacity revenues in the recent PJM Interconnection capacity auction.
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United Energy Corp, a North Dakota-based oil and gas production and exploration company, has agreed to acquire a coal-fired project and related transmission infrastructure in the state.
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LS Power has wrapped a $108 million debt package for a portfolio of lithium-ion battery projects located in California.
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A pair of investors has closed acquisition financing to support their purchase of the Canadian operations of Brookfield Infrastructrure Partners' district energy business, Enwave Energy.
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Clearway Energy Group is planning to take first round bids over the coming weeks for the sale of its district energy business.
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DTE Energy has shuttered one of its last remaining coal plants as it looks to transition away from the fuel source.
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PSEG Power has shuttered the last coal-fired power plant in its fleet, marking the completion of its long-term coal exit strategy.
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Venture Global LNG is planning to install carbon capture and sequestration (CCS) equipment at two at of its liquified natural gas facilities in Louisiana.
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Ormat Technologies has agreed to acquire a portfolio of operational and development-stage geothermal assets in Nevada and an associated transmission line from Terra-Gen.
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California community choice aggregator Clean Power Alliance has signed a power purchase agreement for the full output of a geothermal project in the state.
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Houston-based EnCap Investments has raised $1.2 billion for its EnCap Energy Transition Fund I.
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AES has inked a power purchase agreement with Google to supply electricity to the internet giant's Virginia-based data centers.
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I Squared Capital has launched a $405 million term loan B package as part of the financing of its $961 million acquisition of publicly-listed independent power producer Atlantic Power Corp.
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A group of former creditors of the Coso Geothermal portfolio in California, who have owned it since a debt restructuring in 2017, have signed a deal to sell it to a new strategic owner.
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Macquarie Capital has hired a project finance and development official who previously oversaw Latin American energy investments at Sempra Energy in New York.
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Orion Acquisitions, a vehicle of investor Kerry Cusick, has closed its acquisition of the lessee interest in the 440 MW Red Hills coal-fired plant in Mississippi.
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FirstEnergy Corp's lenders have signed waivers and amended the terms of its loans to cure compliance breaches stemming fromthe disclosure of a roughly $4 million payment in 2019 that was uncovered as part of an internal bribery investigation.
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The creditors of ArcLight Capital Partners’ Chief Power coal-fired portfolio in Pennsylvania are looking to foreclose on the assets after attempts to find a refinancing solution failed.
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DTE Energy has announced plans to increase the size of its solar portfolio tenfold by 2022, with the addition of 420 MW.
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The city of Unalaska, Alaska, has signed a 30-year power purchase agreement with Ounalashka Corp and Chena Power for the output from a 30.9 MW geothermal project that will tap energy from the Makushin Volcano.
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Schlumberger New Energy has partnered with Texas-based geothermal developer Thermal Energy Partners to form a new geothermal project development joint venture called STEP Energy.
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An auction is underway for a contracted geothermal asset in California that has been owned by a group of former creditors since a debt restructuring in 2017.
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Engie Brasil is preparing to issue up to R$780 million ($142 million) in debentures to finance its Pampa Sul coal-fired power plant in Candiota, Rio Grande do Sul.
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As power market and policy experts quarrel over the reasons for California's first rolling blackouts in 19 years, renewable energy project developers and financiers spy opportunities.
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Chilean power producer AES Gener has reached a deal with BHP Group, the mining industry offtaker of the 558 MW Angamos coal-fired plant in Chile, to cancel two power purchase agreements early, allowing AES to close the plant down ahead of schedule.
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Spain's Ortiz Construcciones y Proyectos has requested an up-to-$20 million credit line from development finance institution IDB Invest to pay its suppliers in Panama, Colombia, and Mexico.
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Chile’s Environment Commission of the Chamber of Deputies is moving forward with a bill that seeks to prohibit the development and operation of coal-fired plants by 2025.
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Longview Power – the owner of a 700 MW coal-fired plant in West Virginia – emerged from its most recent prepackaged Chapter 11 restructuring on July 31.
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San Antonio, Texas-based utility CPS Energy has launched a request for information in the run up to launching a request for proposals in the near future.
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NRG Energy its paying down and unwinding sale-leaseback agreements related to two fossil fuel-fired power stations in Illinois that it owns through its Midwest Generation holding company.
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Ormat Technologies has completed its acquisition of a battery energy storage project with a four-year operational history in California from AltaGas.
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Battery storage developer and independent power producer Key Capture Energy has appointed advisers as it explores a formal sale process.
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Capital Dynamics has put together a debt package to fund construction of its 100 MW/400MWh Ventura standalone battery storage facility in Oxnard, California.
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Mexico's state-owned Comisión Federal de Electricidad (CFE) has canceled the procurement processes for four power projects in the country that had been in the works since October of last year.
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Mexico's Comisión Federal de Electricidad (CFE) is set to acquire Ps2 billion pesos worth of coal to operate two coal-fired plants in the country – an effort that deal watchers see as a part of the administration's strategy to maintain state-owned CFE's dominance in the power sector.
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Utility-scale solar and battery storage developer Hecate Energy is launching a corporate equity raise.
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PacifiCorp has issued the largest request for renewable resource proposals in the company's history.
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Ameresco recently refinanced a portfolio of solar, landfill gas and biogas assets in the US with debt from two commercial banks.
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Battery storage system supplier Powin Energy has hired Kate Stock as CFO.
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FuelCell Energy has obtained a $35 million three-month loan from existing lender Orion Energy Partners to ease the company's liquidity issues in light of the Covid-19 crisis.
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Janice Tran, until recently a director in Generate Capital's waste-to-energy investment team, has formed her own company focusing on the same sector.
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Utility-scale energy storage developer Broad Reach Power plans to bring a 150 MW lithium-ion battery portfolio online in Texas by the end of the year.
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NextEra Energy Resources is finalizing a deal to acquire a 6 MW fuel cell portfolio on Long Island, New York, from Bloom Energy.
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Antin Infrastructure Partners made good on its commitment to grow its US presence at the end of last year with the $1.25 billion acquisition of Veolia’s District Energy Networks business in December. The French firm funded the purchase with a $770 million debt package that innovatively combined elements of corporate and project financing.
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Enel has brought forward the schedule for shuttering its two coal-fired units in Chile from 2024 to 2022.
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Mexico’s state-owned Comisión Federal de Electricidad (CFE) has launched a tender for a 25 MW geothermal project.
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Capital Dynamics is in talks with South Korean lenders for the financing of a standalone battery storage project in California that it is in the process of acquiring.
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Judge Brendan Shannon of the US Bankruptcy Court for the District of Delaware has issued an order confirming the prepackaged Chapter 11 reorganization of the 700 MW Longview Power coal-fired project in West Virginia.
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Pacific Gas and Electric has awarded resource adequacy contracts to lithium-ion battery storage projects totaling 423 MW across California, with LS Power bagging almost half the capacity.
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Battery storage developer GlidePath Power Solutions has appointed a new CEO and chief revenue officer.
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Hawaiian Electric has selected 16 solar-plus-storage and standalone storage projects after receiving more than 75 bids in response to a 900 MW request for proposals launched last August.
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Strata Solar has has entered into an exclusivity agreement with an equity investor for its Ventura Energy Storage project in California.
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Windmill Capital Management, a firm based in Menlo Park, California, is raising a debt fund to finance commercial and industrial-scale clean energy projects.
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Solar developer and owner Strata Solar is in talks with several banks for the potential debt financing of a standalone battery storage project in California.
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Hawaiian Electric has selected 16 solar-plus-storage and standalone storage projects after receiving more than 75 bids in response to a 900 MW request for proposals launched last August.
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The Dominican Republic is selling a 50% stake in a 674.78 MW coal-fired plant in the country, but the process is on hold because of the Covid-19 pandemic.
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NAES subsidiary PurEnergy has agreed to sell its lessee interest in the 440 MW Red Hills coal-fired project in Ackerman, Miss., to an individual investor.
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Guatemala’s power distributor Energuate has awarded five-year power purchase agreements to four companies as a result of a tender process that began earlier this year.
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Sempra Energy has completed the sale of its Peruvian assets to a Chinese buyer, bringing to an end to a process that began in January of 2019.
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A battery storage developer has launched an equity raise for a series of development-stage projects in New York.
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Chilean industrial equipment supplier Industria Mecánica VOGT has inked a preliminary agreement to fit the pumping systems it supplies to mining companies with energy storage technology from Swedish company Azelio instead of diesel generators.
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A new power purchase agreement has been signed for the 270 MW Coso geothermal portfolio in California, which underwent a debt restructuring in 2017 before losing a prior PPA with a utility company in 2019.
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Longview Power, the owner of a 700 MW coal-fired plant in West Virginia, today filed a prepackaged Chapter 11 restructuring plan before the U.S. Bankruptcy Court for the District of Delaware.
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Panama's state-owned transmission company Etesa has awarded short-term power purchase agreements with distribution companies to 18 generation companies.
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Engie Energía Chile has agreed to acquire a stake in a coal-fired power plant from Chilean copper producer Antofagasta Minerals while inking an 11-year renewable energy power purchase agreement with the mining company.
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Oilfield services company Schlumberger recently formed a team to focus on investing in low-carbon technologies, including carbon capture and storage (CCS).
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AltaGas’ divestiture of its non-core assets took another step forward recently when the Calgary-based company found a buyer for a battery storage plant in California.
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The Private Financing Advisory Network (PFAN) has launched a request for proposals for clean energy projects in the Caribbean and Central America.
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Colombian public utility regulator SuperServicios has postponed the auction to sell struggling power distributor Electricaribe.
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The world’s two largest gold mining companies, Barrick Gold Corp. and Newmont Corp., are planning to convert their contracted 215 MW TS Coal Plant in Eureka County, Nev., to a dual-fuel facility.
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A year after private equity firm I Squared Capital completed the acquisition of a large renewable energy portfolio in Latin America, the fund has consolidated its assets by refreshing the debt at both the holdco and project level.
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Birch Infrastructure, a start-up that aims to provide power generation and other utility services to the booming data center industry, has appointed advisers for an equity raise, the proceeds of which will be plowed into individual projects.
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Warburg Pincus has committed up to $300 million of equity to distributed generation and microgrid start-up Scale Microgrid Solutions (SMS).
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The bookrunners on a proposed term loan B repricing for Atlantic Power Corp. have approached lenders with initial price thoughts.
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Australian geothermal project developer Controlled Thermal Resources is in the process of raising development capital following the award of a long-term utility power purchase agreement to its Hell’s Kitchen complex in California.
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Ormat Technologies has inked a pair of 10-year power purchase agreements with California community choice aggregators Silicon Valley Clean Energy and Monterey Bay Community Power for a geothermal project it is developing in the state.
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Toronto-based Northland Power has closed the acquisition of a 99.2% stake in the Colombian utility Empresa de Energía de Boyacá (EBSA) with a bridge loan.
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The delayed auction to sell Colombia's power distributor Electricaribe is likely to attract mainly local players when it takes place next month, say deal watchers.
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