Emerging Markets
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The U.S. Securities and Exchange Commission has sued a former Goldman Sachs banker over his role in an alleged scheme to obtain a power purchase agreement for a Ghanaian power plant through bribery.
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Chile’s National Electric Coordinator (NEC) has asked power companies in the country to submit plans to confront possible disruptions caused by the Covid-19 pandemic, as Chile sees the number of patients rise.
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Brazilian state-controlled Petrobras is studying the creation of a subsidiary for some of its power plants with a view to divesting them through an initial public offering.
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Argentine construction company Genergíabio has signed financing with a syndicate of banks for an 18 MW biomass project in the province of Corrientes.
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Solar and wind project owner sPower has appointed a bank to privately place a second project bond with a similar structure to a transaction that closed last year.
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Brazil has received more than a thousand applications to participate in its next power auction, scheduled for Aug. 31, with wind projects making up the bulk of the submissions.
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The Canada Pension Plan Investment Board and Voltorantim Energia, a subsidiary of São Paulo-based Voltorantim Group, have launched a joint venture focusing on Brazilian generation assets—and lined up its maiden acquisitions.
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Greenwind has signed $104 million in debt for its 100 MW Corti Wind Farm in Argentina, which the lenders say has the longest tenor of any project finance deal to emerge from the country’s RenovAr program and is the first to involve international banks.
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Brazilian regional development lender Banco do Nordest has agreed to finance 482 MW of renewable projects in the country, at a time when asset managers are once again bullish on real-denominated assets.
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Invenergy has bought an operational 64 MW solar project in Salto, Uruguay from developer Fotowatio Renewable Ventures.
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Canadian Solar has received $20 million of unsecured funding from the China and Portuguese-speaking Countries Co-operation and Development Fund (CPDFund) to fund the construction of renewable projects in Brazil, including its Pirapora I solar project in Minas Gerais.
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A 200 MW power purchase agreement signed recently by the developer of a wind project in western Kansas is the first such contract intended to be serviced via Clean Line Energy Partners’s proposed Grain Belt Express transmission line.
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Iberdrola is buying the remaining 50% of two wind project portfolios in Brazil that it does not already own from Neoenergia for about €98 million ($103 million).
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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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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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This week’s Industry Current, written by Jim Heidell, Ethan Paterno and Mark Repsher, consultants at PA Consulting Group, focuses on Mexico's emergent capacity markets, unraveling the complexities and the opportunities they represent.
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A private equity executive who was head of EQT Partners’ U.S. infrastructure business has landed at the New York office of London-based Actis.
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Mainstream Renewable Power has hired a former investment banker and investor to head its new financing and investment division.
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Two buyers have agreed to acquire Duke Energy's Latin American assets in separate transactions that will complete the North Carolina-based utility company’s divestment from the region, following a two-stage auction.
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Several New York-based structured and project finance bankers have left BBVA as a result of a shake-up of the Spanish bank’s corporate and investment banking division in the U.S.
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In the second part of this exclusive interview, PFR’s managing editor, Olivia Feld, speaks with Josh Goldstein, senior v.p., finance and capital markets, at Recurrent Energy, about tax equity, market dynamics in Texas and Recurrent’s strategy regarding distributed generation and power hedges.
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A sponsor is planning to launch a local project bond for a wind facility in Uruguay once it comes online next year, to take out commercial bank debt that was put in place in February.
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As global financial markets reeled in the wake of the U.K.’s historic vote to leave the European Union, it was business as usual for much of the American project finance community.
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Power Finance & Risk announced the winners of its 13th Annual Deals and Firms of the Year Awards at the PFR Awards Dinner at the Metropolitan Club in New York on Wednesday, April 18. Read the full list of winners here.
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European and North American project sponsors, often also manufacturers of wind turbines and solar panels, have scooped up power purchase agreements in Latin America in the last month or so.
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Power Finance & Risk’s Deals & Firms of the Year Awards poll has been extended until April 16, giving you an additional week to tell us which banks, sponsors and law firms best navigated the markets in 2015.
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Power Finance & Risk’s Deals & Firms of the Year Awards are back, recognizing excellence in power finance and asset M&A across the Americas.
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PFR’s managing editor, Olivia Feld, speaks to Pablo Otin, v.p., emerging markets, at 8minutenergy, about the solar developer’s plans to expand, particularly into Brazil and Mexico.
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Norwegian independent solar power producer Scatec and the Norwegian state-owned investment fund for developing countries, Norfund, have acquired a 53 MW solar project in Honduras.
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8minutenergy Renewables has hired a former Gestamp Solar executive as v.p. of business development in Latin America as it sets its sights on increasing its presence outside of the U.S.
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This week was dominated by yieldco capital markets activity, with TerraForm Global and Pattern Energy both announcing big equity and debt deals.
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At the 26th annual Global Energy and Finance Conference organized by Chadbourne & Parke, five bankers discussed the financing options for merchant projects, and even the prospects of merchant solar projects.
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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 Industrial and Commercial Bank of China has hired a former Citi banker in its New York office, as it grows its presence in the Americas power market.
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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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In the second part of this exclusive interview, Mona Dajani, a partner in the banking and finance practice at Baker & McKenzie’s Chicago and New York offices, talks to PFR about the sustainability of the yieldco business model and the consequences of high levels of liquidity in a credit market pepped up by new entrants.
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Hannon Armstrong Sustainable Infrastructure is planning to issue additional shares and tap the securitization market as it looks to expand its portfolio and increase the company’s leverage.
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Renewable project development in Mexico is slowing down as players await the outcome of follow-up legislation in June, according to bankers, attorneys and developers at Green Power Conferences’ Mexican International Renewable Energy Congress in Mexico City.
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Belgian shipping and engineering company Exmar NV is looking to lock in $170 million in debt to back the world’s first floating liquefied natural gas export facility in waters off of Tolu, Colombia, in the Gulf of Morrosquillo.
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The proliferation of project bonds is set to continue in Latin America as financiers and sponsors work to optimize deal structures, according to panelists at Euromoney’s 8th Annual Latin American Energy & Infrastructure Finance Forum at the Biltmore Hotel in Miami on March 11.
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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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CIT Group has closed a $36 million senior secured credit facility for Spanish developer Gestamp Wind’s 23.4 MW Punta Lima wind facility near Naguabo, Puerto Rico.
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French energy giant Total and Swiss independent power producer Etrion Corp. have sealed a roughly $140 million non-recourse debt package backing the merchant 70 MW Salvador solar photovoltaic facility in the Atacama region in Chile.
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SunEdison has closed a $260.5 million debt package backing the 100 MW Amanecer solar project near Copiapo in the Atacama Desert in Chile.
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Chilean transmission company Transelec, a subsidiary of Brookfield Asset Management, has closed a $150 million debt financing for a 220kV transmission line linking the Caserones mine in Chile to generation facilities.
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Instituto Costarricense de Electricidad is talking to lenders to secure financing for the $1.4 billion Reventazón hydro facility in Limon province, Costa Rica.
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GDF Suez has brought in Marubeni as a joint venture partner to develop the $1.125 billion GNL del Plata re-gasification facility in Montevideo, Uruguay and is looking to the finance the facility.
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Proparco, the private investment unit of the French Development Agency, has joined the Inter-American Development Bank and the IDB-managed Canadian Climate Fund in providing a $66.4 million debt package to Spanish developer Solarpack’s 26.5 MW of photovoltaic projects in the Atacama Desert in Chile.
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Brazilian conglomerate Odebrecht has closed a $774 million senior secured financing package backing its 406 MW Chaglla hydro facility in Peru.
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