Energy
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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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Atlas Energy Solutions has appointed Blake McCarthy as its chief financial officer, effective 13 May 2024, PFR has learned.
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Miami-based financial advisory firm Atlantico Capital Partners has hired Juan Francisco Toro as managing director and Juan Pablo Hernández as vice president of its Mexico City office.
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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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A trio of Boston-based energy investors has launched Inyarek Partners to develop energy transition assets, completing its inaugural investment into renewable natural gas (RNG) platform Redtail Renewables.
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Andros Capital Partners has closed its second energy fund – Andros Energy Capital II – at its $750 million hard cap.
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Priority Power Management, an energy optimization and infrastructure business backed by Oaktree Capital Management and Ara Partners, refinanced its existing debt and increased its credit facility from $85 million to $250 million.
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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 European Investment Bank (EIB) and the Inter-American Development Bank (IDB) have signed a mutual reliance agreement, allowing the multilaterals to improve cooperation on climate-resilient infrastructure and energy projects in Latin America.
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Colombian business regulator Superintendencia de Sociedades de Colombia has approved the planned merger of Enel’s Colombian subsidiaries.
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Vibra Energia – the Brazilian fuels distributor previously known as BR Distribuidora – plans to exercise a purchase option to acquire a controlling stake in power trader Comerc.
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New York Stock Exchange-listed Kayne Anderson Energy Infrastructure Fund has obtained a $200 million unsecured revolving credit facility.
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JP Morgan’s Infrastructure Investments Fund (IIF) has inked a deal to acquire South Jersey Industries (SJI) in a deal valued at $8.1 billion.
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Brazilian law firm Fialho Salles has promoted project finance lawyer Ricardo Rondino to partner.
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The Latin America-focused Ashmore Andino III Fund has held a first close at COP664.15 million ($168 million).
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The University of Florida (UF) is expected to issue a final request for proposals (RFP) for its energy P3 in the coming months, with a proposal deadline of September 2022.
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The University of Louisville (UofL) is seeking a private partner to finance, operate and maintain its steam, chilled water, electrical and related distribution systems.
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The Brazilian state of Rio Grande do Sul has announced an auction for its electricity generation company, CEEE-G.
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Howard Stern has retired from Northwestern Mutual after spending more than 21 years at the firm.
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Biopharmaceutical company Pfizer has signed a virtual power purchase agreement for at least 310 MW of solar generation to power its North American operations.
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Power Finance & Risk is pleased to announce the short list for the following award: Project Bond of 2020.
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Power Finance & Risk is pleased to announce the short list for the following award: M&A Deal of 2020.
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Power Finance & Risk is pleased to announce the short list for the following award: Canadian Deal of the Year 2020.
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Power Finance & Risk is pleased to announce the short list for the following award: District Energy Deal of 2020.
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Power Finance & Risk is pleased to announce the short list for the following award: Transmission Deal of 2020.
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Power Finance & Risk is pleased to announce the short list for the following award: Term Loan B of 2020.
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Actis Energy has completed fundraising for its fifth fund with $4.7 billion in commitments, as well as co-investment capital bringing the total figure raised up to $6 billion.
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British renewables investor Greencoat Capital has launched in the US with the opening of offices in New York and Chicago ahead of a tipped fund launch.
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French water, waste and energy management group Veolia has started commercial operations at a 12.4 MW biogas complex in Brazil.
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A portfolio company of Toronto-based infrastructure investment firm Instar Asset Management has closed a $53 million credit facility to finance a fleet of district energy systems in Canada.
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Colombian developer Empresas Publicas de Medellin (EPM) has received permission from the national finance ministry to raise funds for its 2021-2023 planned investments.
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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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Sunrun has increased the size and reduced the pricing of its non-recourse warehouse loan with a syndicate of eight financial institutions.
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Leeward Renewable Energy has inked a power purchase agreement with a community choice aggregator for the full output of a solar-plus-storage project in California.
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Renewables project finance enthusiasts flocked to a secluded conference center in midtown Manhattan earlier this week for REFF Wall Street 2021, after being deprived of events to attend over the last year-and-a-half. PFR editor Taryana Odayar and reporter Alfie Crooks were on site to catch the goings-on.
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Mexico’s President Andrés Manuel López Obrador (AMLO) has put forward an initiative that would reform the country’s constitution as it pertains to the power sector, in an effort to strengthen state-owned energy companies.
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While some debt investors have grown increasingly comfortable financing merchant solar assets over the last few years, many market watchers at REFF Wall Street 2021 remain unconvinced that the attractive yields to be gained by taking on merchant exposure outweigh the associated risks.
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Conference goers at REFF Wall Street 2021 in New York this week applauded the tremendous volume of investments in the renewables space over the last year-and-a-half, despite the disruption wrought by the Covid-19 pandemic, but some warned that there could be "surprises down the road" as a result of the rapid buildout of the asset class.
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Deal watchers have observed that solar project owners are increasingly buying out the tax equity investors in their projects or arranging for third-parties to take their place, as several projects pass their tax credit recapture periods.
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The Bureau of Ocean Energy Management (BOEM) is preparing to launch an environmental review of an offshore wind project being developed by a 50:50 joint venture between Shell New Energies and EDF Renewables North America (EDFRNA), off the coast of New Jersey.
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Sidewalk Infrastructure Partners has raised $190 million in capital from a single limited partner.
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Talen Energy's Cumulus Growth subsidiary has secured an up to $175 million investment from Orion Energy Partners to execute its renewable energy and digital infrastructure growth strategies.
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Acciona Energia has clinched two supply contracts for renewable power in Chile and renewed a third with water utility Aguas Nuevas.
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Dutch fund APG and Celeo Redes have arranged acquisition financing for their purchase of Colbun Transmision, the transmission subsidiary of Chilean independent power producer Colbun.
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Renewable energy retailers have traditionally found ways to sway Texan customers to choose them, typically through competitive rates, but Octopus Energy has devised a new offering – Amazon Prime memberships.
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The solar ABS sector is set to hit a new record for issuance volumes in 2021 with the addition of Sunrun and Solar Mosaic’s transactions, as a wider pool of institutional investors join the market, encouraged by more frequent ratings from the three major credit rating agencies.
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PJM Interconnection has requested regulatory approval to postpone its December base residual auction (BRA) for delivery year 2023/2024 by nearly two months, which would push the auction window into early 2022, and potentially delay subsequent capacity auctions.
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US Senate Finance Committee chairman Ron Wyden (D-Ore) has proposed a slate of tax reforms that could freeze the use of the partnership flip structure in the tax equity market.
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As the Dominican Republic starts opening up to private investments in renewable energy projects under President Luis Abinader, local developer Grupo Energético 23 (GE23) managed to wrangle debt financing for its first such asset in the country this summer.
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Distributed solar developer New Energy Equity has secured a $50 million revolving credit facility to fund the construction of a more than 60 MW community solar portfolio in the US.
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Singapore's sovereign wealth fund GIC Private Limited has closed the first phase of its previously agreed upon acquisition of a 19.9% stake in Duke Energy Indiana.
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A vice president at CohnReznick Capital has joined the renewables project finance team at a Canadian investment bank.
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Dominican utility company Empresa Generadora de Electricidad Haina (EGE Haina) has brought online a 120 MW (DC) solar park in the Dominican Republic.
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Two vice presidents in Goldman Sachs' renewable power group have headed to a Morgan Stanley-backed impact investment platform, where they will lead a new renewables investment division.
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Colombia has launched the country’s third renewable auction, which will take place before October 31 of this year.
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McGuireWoods has recruited an M&A partner in Houston who previously held senior roles at power and renewables project developers such as NRG Energy and Panda Power Funds.
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El Salvador's president has revealed plans to power Bitcoin mining operations in the country using geothermal energy produced by volcanoes, shortly after El Salvador became the first country in the world to adopt Bitcoin as legal tender.
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Aypa Power, which was previously known as Canadian energy storage platform NRstor C&I before it was bought and rebranded by Blackstone Energy Partners in 2020, has recruited an M&A director from AES Corp.
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Voya Investment Management, the asset management business of Voya Financial, has reached first close on an infrastructure debt fund that is focused on renewables project financing.
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Several term loan B deals trading in PJM Interconnection have taken a dip after clearing prices from the highly anticipated Base Residual Auction (BRA) for delivery year 2022/2023 were announced. But deal watchers say that this is unlikely to have a significant impact on revenues in the long run.
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Law firm O’Melveny has hired four energy-focused attorneys from Thompson & Knight as it looks to expand its footprint in Texas.
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LS Power subsidiary CPower Energy Management has disclosed its demand response capacity results from PJM Interconnection's Base Residual Auction for delivery year 2022/2023.
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Longroad Energy has refinanced a 27 MW portfolio of commercial and industrial-scale solar projects spread across several US states.
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MPC Energy Solutions has agreed to acquire a combined-heat-and-power plant that is under construction in Puerto Rico.
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Quinbrook Infrastructure Partners has recruited a managing director from BlackRock to lead a newly launched team that is focused on investment strategies in renewable power and industrial decarbonization.
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A managing director in Crédit Agricole's project finance team, who has spent over a decade at the bank, has left for an opportunity at another bank.
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Vistra has reported its results from PJM Interconnection's Base Residual Auction for delivery year 2022/2023.
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Warburg Pincus-backed distributed generation and microgrid start-up Scale Microgrid Solutions (SMS) has bought a distributed microgrid system located in Connecticut.
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Greenberg Traurig has appointed a global co-head of its energy project finance practice in Washington, DC.
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After two years of delays due to uncertainty over the Minimum Offer Price Rule (MOPR), PJM Interconnection has finally concluded its Base Residual Auction (BRA) for delivery year 2022/2023, although the results of the highly anticipated auction have fallen short of market participants' expectations.
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Orrick has recruited a tax attorney from Kirkland & Ellis as it expands its renewable energy finance practice.
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NordLB's Sondra Martinez, CohnReznick Capital's Conor McKenna, Convergent Energy + Power's Frank Genova and Kirkland & Ellis's Brian Greene discuss the latest developments in the energy storage market.
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Public Service Company of New Mexico (PNM) has launched two requests for proposals, which collectively seek up to 700 MW of generation by June 1, 2023.
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Citi's former North American head of commodities finance and credit solutions is taking up a new role at a Durham, North Carolina-based holding company focused on the energy transition.
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The UK's Amber Infrastructure Group has expanded the scope of its US activities with the launch of Circle Power Renewables, a developer focused on solar, wind and battery storage projects.
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SB Energy, the renewables division of SoftBank, has clinched construction debt and tax equity financing for a pair of solar projects located in California.
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Banverde, a Mexican investment fund focused on commercial and industrial rooftop solar projects, has secured a $57 million syndicated credit facility to support the acquisition of small-scale solar assets in the country.
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The sponsor of the 2.7 GW Westlands Solar Park (WSP) in California has secured debt and tax equity financing for the project's first phase.
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The Biden administration has identified areas off California's central and northern coasts for the development of offshore wind projects and is preparing to lease them out in an auction targeted for mid-2022.
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A director in Bank of America's Global Sustainable Finance Group and a vice president at Orion Energy Partners have joined the energy team at Blackstone Credit.
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Hull Street Energy has struck a deal to acquire Foundation Solar Partners (FSP), the solar development firm set up by three former Cypress Creek Renewables officials two years ago.
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Blackstone Credit portfolio company ClearGen has committed up to $500 million to a joint venture focused on developing behind-the-meter renewable energy microgrids.
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Quinbrook Infrastructure Partners portfolio company Primergy Solar has secured an offtaker for a 155 MW solar project in Colorado.
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Cubico Sustainable Investments has sold two wind farms in Brazil to AES Brasil, the local subsidiary of AES Corp.
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The California Public Utilities Commission has issued two proposals, both of which would require utilities in the state to procure at least 11.5 GW of new generation between 2023 and 2026.
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Capital Dynamics has hired a director from NextEra Energy Resources.
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The Department of Energy's Loan Programs Office has recruited a senior financier from Standard Solar.
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The sale of Eletrobras has moved a step closer to the finish line, thanks to a bill to privatize the power utility passing in the lower senate house on May 19.
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Brazos Electric Power Cooperative has secured US Bankruptcy Court approval to access the first tranche of a proposed $350 million debtor-in-possession (DIP) financing package.
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Sidley Austin has hired a veteran tax partner focused on renewable energy and infrastructure projects.
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John Laing's board of directors has agreed on the terms of KKR & Co’s proposed acquisition of the company, while Equitix has emerged as a 50% partner in the takeover bid.
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A boutique West Coast law firm has recruited six attorneys and a chief operating officer from a range of rival law firms, an electric utility and a solar panel manufacturer.
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Ares Management Corp is preparing to take ownership of a financially troubled gas-fired, combined-cycle power plant in PJM Interconnection.
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Stonepeak Infrastructure Partners has agreed to invest up to $750 million in an electric vehicle charging and transportation joint venture with Nuvve Holding Corp, a Californian EV-charging business that recently went public via a SPAC merger.
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McGuireWoods has recruited three renewable energy project finance and private equity attorneys from DLA Piper.
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Leyline Renewable Capital has hired two senior project finance professionals from NordLB and EDP Renewables, amid the departure of a PF director from the firm.
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Onyx Renewable Partners has hired a project finance vice president who previously worked at True Green Capital Management.
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Canadian pipeline operator TC Energy has expanded a request for information that it issued in April for wind capacity to power its US assets, to include solar and energy storage projects as well.
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Citi has formed a new investment banking group focused on the clean energy transition and appointed two senior bankers to lead it, according to an internal memo seen by PFR.
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Spain's Repsol Energy has made its debut in the US renewables market with a deal to acquire a 40% stake in utility-scale solar and battery storage project developer Hecate Energy.
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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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Ben Fowke, who has served as Xcel Energy's chaiman and CEO for over a decade, is retiring on August 18.
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Rubicon Capital Advisors' former managing director and general counsel, Sonia McMillan, has joined a specialist infrastructure fund manager in New York.
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Robert Sternthal, the former head of North America at Rubicon Capital Advisors, has re-emerged in a new role at an investment bank that is planning to staff up its renewables team and expand its coverage of the sector.
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AES Brasil has received clearance from Brazil's Administrative Council for Economic Defense to purchase a 231.3 MW wind portfolio in the country.
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The state of Massachusetts has announced a 1.6 GW offshore wind tender.
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The CFO of battery storage developer and independent power producer Key Capture Energy has left the firm, and a senior investment banker has been brought in to act as interim CFO.
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Orion Energy Partners has raised $1.079 billion for its Orion Energy Credit Opportunities Fund III.
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Listed US Solar Fund has raised $132 million in equity on the London Stock Exchange to refinance a solar portfolio at a less aggressive leverage ratio.
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Dominion Energy has struck a deal to acquire a utility-scale renewable energy project developer based in the Southeastern US.
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Origis Energy has secured a buyer for a portfolio of three solar and battery storage projects, each located in a different US state.
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The Biden administration has approved the construction and operation plan for the 800 MW Vineyard Wind project off the coast of Massachusetts, which has been waiting in the wings for years due to federal permitting issues and other delays.
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Cypress Creek Renewables' associate general counsel, Jaya Velamakanni, has left the company to start her own private practice.
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Law firm Baker Donelson has recruited a veteran energy and infrastructure project finance attorney with nearly 30 years of experience to lead its energy transactions team.
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Argo Infrastructure Partners has agreed to acquire a 129 MW commercial and industrial solar portfolio in the US from funds managed by CarVal Investors.
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AES Corp is aiming to replicate a "landmark, first-of-its-kind" power purchase agreement that it recently inked with Google in line with its 24/7 carbon-free strategy, which it says has attracted interest from a number of corporate clients, across the US.
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Competitive Power Ventures ?has circled a term loan B package to refinance a gas-fired, combined-cycle project in Maryland and expects to close a deal next week.
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Greenbacker Renewable Energy has bought its second solar project in Montana – an 80 MW development-stage, contracted asset in Yellowstone County.
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Pacific Gas & Electric Co has been granted approval by the California Public Utilities Commission to issue up to $7.5 billion of "recovery bonds" to finance wildfire-related expenses, in what is being touted as the largest ever securitization by a US utility.
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GenOn Energy has closed the refinancing for a pair of dual-fuel peaking power plants in PJM Interconnection.
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AES Brasil has bought a pair of wind farms totaling 158.5 MW from the Brazilian subsidiary of Cubico Sustainable Investments.
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As Chile's largest developers secure supply contracts with corporate offtakers and search for corporate financing for their portfolios, project finance bankers wonder whether there will be any mandates left in the long run that are not corporate-based.
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Brazilian telecommunications company TIM Participacoes has launched a call to buy wind, solar, hydro and biomass distributed generation projects in the country.
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Pennsylvania-based PPL Corp is seeking regulatory approval for its acquisition of Rhode Island electric and natural gas utility The Narragansett Electric Co from UK's National Grid.
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A university in Indiana has agreed to purchase renewable energy certificates generated by a 20 MW solar project developed by American Electric Power in the state.
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Southwest Generation has agreed to sell a combined-cycle gas-fired power plant in California to a family trust.
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NRG Energy has hired its new chief financial officer from South Korean e-commerce company Coupang.
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A pair of sponsors has tapped the bank market to raise financing for a portfolio of mixed generation assets in Chile which include both operational and greenfield projects.
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CarVal Investors has raised $490 million for its CVI Renewable Energy Fund, almost double its initial target of $250 million.
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PSEG Power has found a buyer for its 365 MW Solar Source portfolio, following a competitive auction process.
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Ex-Goldman Sachs managing director Jean-Pierre Boudrias and ex-Macquarie Capital managing director Ross Warner ?have teamed up to launch their own hydrogen energy storage business.
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A senior director who recently left NordLB after a decade working in the firm's project finance practice has joined DNB Bank.
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A bulge-bracket investment bank is slotting acquisition financing into place to support Dutch fund APG and Celeo Redes' purchase of Colbún's transmission business.
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Brazilian state-controlled Eletrobras has appointed former ANEEL director Rodrigo Limp Nascimento as CEO, effective May 7.
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CarVal Investors has closed tax equity financing for a distributed generation solar and battery storage portfolio located in Massachusetts and Missouri.
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Houston-based EnCap Investments has raised $1.2 billion for its EnCap Energy Transition Fund I.
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A renewables developer has tapped the bank market for a roughly $1 billion debt raise to support the construction of a mammoth solar-plus-storage project located in California.
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Insurance brokerage firm CAC Specialty is rapidly expanding its Natural Resources division with a series of high-level hires, including two from Beecher Carlson.
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A sale process is underway for a battery storage-focused independent power producer.
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KeyBanc Capital Markets has hired six renewables investment bankers from a regional bank to join its San Francisco-based utilities, power and renewables team.
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A senior managing director at Evercore has left for a new opportunity at Moelis & Co.
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A senior director who had worked in NordLB's project finance practice for over a decade has left the bank.
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Lightsource bp has inked a power purchase agreement with online retailer Amazon for an Ohio solar project.
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Tiger Infrastructure Partners has been selected to back a new business that aspires to build the world’s largest carbon capture and storage project.
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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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First Sentier Investors has appointed Chris Tehranian as a senior director in New York.
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The Inter-American Development Bank and IDB Invest have launched an online tool designed to standardize reporting in the Latin American and Caribbean green bond markets and bring about greater transparency.
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A senior banker has left Investec's power and infrastructure team in New York for a new opportunity.
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A senior finance official at Nephila Climate has left the firm – the latest in a series of high-level executive departures in recent weeks.
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Vistra Energy Corp has revised the previously estimated financial impact of winter storm Uri and reissued its 2021 guidance after receiving additional load information from Ercot.
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Strata Clean Energy (formerly Strata Solar) has appointed a new CFO from within its own ranks, after the incumbent joined another developer earlier this month.
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A senior managing director at Truist, who had previously spent more than a decade in the energy group at Credit Suisse, has left the bank.
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Marketing materials have been circulated for the sale of Glidepath Power Solutions' battery storage platform.
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A lithium-ion battery manufacturer is seeking $25 million of private equity capital to fund its expansion in the US.
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NextEra Energy has recorded a $180 million revenue hit owing to the severe winter weather in Texas in February, which forced as much as 46 GW of generation offline.
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The refinancing for a 1.4 GW portfolio of cogeneration plants has been launched into the term loan B market.
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Spanish developer Grenergy Renovables has begun the permitting process for a 220 MW solar park in Chile's Antofagasta region.
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Avangrid has won US Federal Energy Regulatory Commission approval for its proposed $4.3 billion merger with PNM Resources.
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Georgia Transmission Corp has named Dustin Zubke as its new senior vice president and CFO.
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Investec has launched a secondary trading desk and recruited a senior secondary loan trader in New York to lead it.
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SunPower Corp has announced power purchase agreements for solar projects that will be built on former landfill sites in Maryland.
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The owner of a hedged wind farm in Texas has filed a notice of appeal in New York's Supreme Court in order to protect the project from foreclosure.
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Lightsource bp has inked a power purchase agreement with online retailer Amazon for a solar project in Ohio.
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Caisse de dépôt et placement du Québec (CDPQ) has struck a deal to provide $1 billion to Invenergy Renewables to fund development activities and growth.
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A developer has brought a development-stage solar portfolio in Ercot South to the market this month, after a previous sale process came to a halt due to the Covid-19 pandemic.
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Recurrent Energy has closed construction debt financing for a build-transfer project in Mississippi, as this type of deal becomes more common in the solar sector.
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Nautilus Solar Energy has closed a tax equity commitment with an investment bank for a portfolio of 22 community solar projects in five US states.
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Knighthead Capital Management has inked a deal to increase its ownership stake in the coal-fired Homer City Electric Generation Station in Pennsylvania, which underwent bankruptcy proceedings in 2017.
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Matrix Renewables, a portfolio company of private equity firm TPG, has appointed Luis Sabaté as chief operating officer, as the company continues to expand into Latin America.
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Details have emerged on Competitive Power Ventures' term loan B refinancing of a gas-fired, combined-cycle project in Maryland.
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CoBank has appointed a new head of project finance, succeeding Brian Goldstein who left the bank earlier this month.
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CleanCapital has secured a $300 million corporate equity commitment from an insurance fund manager as it looks to restructure the company and launch its next stage of growth.
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NextEra Energy Partners has struck a deal to acquire a 391 MW operational wind portfolio from Brookfield Renewable Partners.
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D.E. Shaw Renewable Investments has clinched construction debt and tax equity financing for the third phase of one of the largest solar projects in the Midwest.
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NextEra Energy is planning to repower a 66 MW wind farm in Hancock County, Illinois.
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AEP Energy, a subsidiary of American Electric Power, has signed a 12-year power purchase agreement with an Ohio-based lead-acid battery manufacturer.
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Competitive Power Ventures is launching the refinancing of a gas-fired, combined-cycle project in Maryland imminently.
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BlackRock and Singaporean investment company Temasek have formed a partnership that aims to raise $1 billion for its first fund, focusing on decarbonization investment opportunities.
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Caisse de dépot et placement du Québec (CDPQ) has teamed up with alternative investment manager Energize Ventures to invest up to $125 million in the energy transition over the next three years.
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Capital Dynamics has recruited a senior finance official from AES Clean Energy as it looks to rebuild its clean energy infrastructure team.
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Owners of hedged renewable energy projects in Texas face an uphill battle as they plead for protection against foreclosure in court, if a recent ruling by a New York judge is anything to go by.
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An auction for one of the largest battery storage projects in the US has progressed to the second round.
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Chevron has invested in a start-up that is developing floating offshore wind technology in the US.
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Utility-scale solar and battery storage developer Strata Solar has renamed itself Strata Clean Energy.
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SMBC has appointed Juan Kreutz and Luis Fernando Perdigon as co-heads of specialized finance, a division which aggregates several businesses for the bank's North America and Latin America regions, including project finance, US private placements and financing for clients in Asia.
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Spanish developer Acciona is working on a 168 MW solar project in the Colombian department of La Guajira.
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BlackRock has filed a lawsuit to protect one of its hedged Texas wind farms from having to pay close to $100 million in compensation to hedge counterparty Citigroup Energy as a result of winter storm Uri - litigation which Citi says "is without merit."
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The final pricing on two recent power-sector term loan Bs landed inside initial price thoughts, indicating a healthy market for additional issuance.
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Rubicon Capital Advisors has hired Tony Memmo as managing director and Owen Weihman as director in New York.
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Adapture Renewables, which is backed by Kirkbi, the investment holding company of the family behind Lego Group, has secured tax equity financing for a 33 MW solar portfolio in Oregon.
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EnCap Investments and Yorktown Partners-backed solar and storage company Catalyze has acquired a Californian rooftop solar developer and installer as it looks to expand its project pipeline and geographic presence in the US.
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Listed solar investor US Solar Fund is aiming to raise equity on the London Stock Exchange in part to allow it to refinance a portfolio of solar assets at a less aggressive leverage ratio.
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Public Service Enterprise Group (PSEG) has closed its acquisition of a 25% stake in Ørsted North America's 1,100 MW Ocean Wind project, which will be built 15 miles off the coast of Atlantic City, New Jersey.
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Pattern Energy Group has partnered with Talen Energy Corp to establish a new joint venture that aims to build and finance 1.4 GW of utility-scale solar and wind generation over the next five years.
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LS Power has signed an agreement to sell its 230 MW Hog Bayou Energy Center gas-fired project in Alabama to an investment vehicle managed by another private equity firm.
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BluEarth Renewables has signed a power purchase agreement with a retail energy provider for the output of a wind farm in Alberta.
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Canadian pipeline operator TC Energy Corp has hired Marathon Capital to advise on the procurement of as much as 620 MW of wind capacity to power its US assets.
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NextEra Energy Resources has signed up a corporate offtaker for a 58 MW solar project that it is developing in North Carolina.
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OMERS Infrastructure has signed a deal to sell its minority stake in Vento II, a 596 MW portfolio of wind projects in four US states, to Atlantica Sustainable Infrastructure.
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Vistra Energy is bringing forward the retirement date for its 802 MW Electric Energy coal-fired plant in Joppa, Illinois, by three years, owing to the various legal and economic challenges the plant is up against.
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ReneSola has sold a 10 MW portfolio of behind-the-meter solar projects in Utah to Greenbacker Renewable Energy.
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Spanish firm Continua Energias Positivas has begun the permitting process for a transmission project in Colombia that will connect a development-stage solar asset to the grid.
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A British buyer has stepped up to take majority cash equity stakes in two of EDP Renewables' wind projects in Illinois, one of which sells its output into PJM Interconnection and the other into MISO.
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Troutman Pepper has hired Judy Kwok, a tax lawyer focusing on renewable energy finance who used to work in-house at GE Energy Financial Services, from Mintz Levin.
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German pharmaceuticals company Boehringer Ingelheim has signed a deal with utility company Evergy for a portion of the output of of an Enel Green Power North America wind project in Kansas.
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New England utility Eversource Energy has appointed a new president and CEO from within its own ranks to replace Jim Judge, who is stepping back to become executive chairman, effective May 5.
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Houston-based oil pipeline investor Buckeye Partners has teamed up with global commodities house Trafigura's latest renewables venture, Nala Renewables, to acquire a majority stake in US renewables developer Swift Current Energy.
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BlackRock Real Assets has raised $4.8 billion for its Renewable Power Fund III, the third vintage of its flagship Global Renewable Power fund series and the largest yet.
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Canada Pension Plan Investment Board has set up a new platform that combines its power and sustainable energy group with its energy resources group.
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German developer BayWa r.e. has signed a loan with the North American Development Bank for a utility-scale solar project in Texas.
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Avenue Capital Partners has hired a new portfolio manager for its sustainable solutions credit fund following the departure of the previous PM in January.
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A trio of investors led by student loan servicer Nelnet has provided tax equity financing for a portfolio of community solar projects in the Northeastern US.
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Brian Goldstein, who was sector vice president and head of project finance at CoBank for six years, is no longer with the firm.
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Hanwha Group-owned 174 Power Global has signed a 15-year power purchase agreement for a 200 MW solar project that it is developing in Colorado.
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A former head of power and utilities lending at RBC Capital Markets is among a trio of high-level hires announced by US solar developer Sol Systems on April 6.
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Intersect Power has made a raft of new hires to help build out its next 2.4 GW portfolio by 2023.
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Atlantic Power Corp has signed a new resource adequacy contract for its 49 MW Oxnard gas-fired plant in California.
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Pine Gate Renewables has clinched debt and tax equity financing for a pair of solar and storage projects that will sit atop cranberry bogs in Massachusetts, and sold the sponsor equity through a deal arranged by John Hancock.
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Stonepeak Infrastructure Partners has found a buyer for its RED-Rochester district energy system in New York state after shelving an earlier sale process for the asset last year.
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Energy Capital Partners has raised a $1.2 billion continuation fund to house its stake in renewables developer Terra-Gen, previously held under Energy Capital Partners III, employing a strategy that has come into vogue among private equity firms in recent years.
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NextEra Energy Transmission has closed its $660 million acquisition of GridLiance from Blackstone?.
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First Solar has sold its North American operations and maintenance business, shortly after closing the sale of its solar project development platform.
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Advanced Power has secured a cash flow sweep amendment to the term loan B underpinning its 700 MW gas-fired Carroll County Energy Center in Ohio.
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DNB Bank has named Emilio Fabbrizzi as head of Americas renewables and infrastructure as it expands its coverage of the region.
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Engie North America has found a buyer for its 96 MW gas-fired Waterbury, Generation facility in Connecticut.
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Thomas Farrell, the former CEO of Dominion Energy, has passed away after a battle with cancer took a sudden turn.
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Solar and battery storage developer Strata Solar has raised $150 million of flexible capital in a deal with Blackstone Credit ?and its affiliates.
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President Joe Biden has announced an ambitious $2 trillion infrastructure plan that includes a wide-reaching set of initiatives aimed at supercharging the country's clean power and renewables industry.
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Canadian developer Greengate Power Corp has hired former AltaGas director of power finance Scott Perry as a business development executive in Calgary.
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Leeward Renewable Energy has closed its acquisition of First Solar's 10 GW utility-scale solar project development platform.
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A successor has been found for SunPower CEO Tom Werner, who is retiring after 18 years with the company.
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A bladeless wind generator designed by a Madrid-based start-up has been dubbed the "Skybrator" due to its suggestive shape and the way it oscillates back-and-forth in a stiff breeze.
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A municipal utility in Iowa has launched a request for proposals for solar projects including one to be built at a specified site.
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A pair of regulated utilities are seeking regulatory approval to acquire a 92 MW wind farm in Wisconsin as part of a proposed build-transfer deal.
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Jennifer Wnek has joined Allen & Overy’s projects, energy, natural resources and infrastructure practice as a partner in New York, joining six Akin Gump partners who officially made the move at the beginning of March.
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Fuel cell manufacturer Plug Power is planning to build a green hydrogen production plant in Pennsylvania that would use generation from Brookfield Renewable's 252 MW Holtwood hydro facility.
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Spanish developer and independent power producer OPDEnergy has won a power purchase agreement from AEP Energy Partners for a solar project in West Virginia.
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Competitive Power Ventures is preparing to mandate an arranger for the refinancing of a gas-fired combined-cycle project on the US East Coast.
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Ørsted has brought in Ben Pratt, a former senior managing director for power origination and trading at Uniper Global Commodities North America, to oversee its Chicago-based US energy trading team.
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The White House has rolled out a raft of new leasing, funding and development goals that will catalyze offshore wind projects, strengthen supply chains and create union jobs.
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Ørsted has made a final investment decision on a combined wind and solar project in Texas, which the Danish company expects to be online in the first half of 2022.
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Utility-scale solar and storage developer Candela Renewables, which was originally set up in 2018, has made three new hires, including a director of finance.
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A former managing director at Rubicon Capital Advisors has taken up a C-suite position at BrightNight, the renewable energy business set up by ex-8minute Energy CEO Martin Hermann, and which was featured in documentary produced and narrated by Leonardo DiCaprio.
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The London-listed US Solar Fund has reached financial close on the acquisition of a 25% stake in the 154 MW Mount Signal 2 solar project in California.
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Three members of BlackRock’s infrastructure credit group have left the firm for The Carlyle Group in New York.
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Invenergy has sold a majority stake in a 300 MW contracted wind farm in South Dakota that recently came online.
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CCA Group has added to its renewable energy advisory team with a senior hire from MUFG's leasing and asset finance division.
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An Israeli investor ?has struck a deal to acquire a 200 MW solar project in the Lonestar State.
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A renewables developer in the US is looking for a strategic investor to take an up to $300 million equity stake.
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Japanese conglomerate ORIX Corp has agreed to purchase majority stakes in a roughly 350 MW portfolio of operational wind farms in the US.
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Clearway Energy Group has closed a $128 million debt financing for a wind project that it is repowering in West Virginia.
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Potentia Renewables has bought a portfolio of commercial-scale solar projects in Ontario from Connor, Clark & Lunn Infrastructure and solar project developer CarbonFree Technology.
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Connor, Clark & Lunn Infrastructure has notified the US Federal Energy Regulatory Commission that it closed the previously announced acquisition of an 80% stake in a 563 MW US renewables portfolio from EDP Renewables, almost three months after the transaction took place.
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Spanish developer Solarpack has identified investment opportunities for a 748 MW (DC) string of solar projects that it is developing in Chile and Colombia.
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New York-based developer Daroga Power is raising $205 million for a portfolio of fuel cell projects across the US, having closed financing for a previous portfolio in December.
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Kirkland & Ellis has hired a senior tax attorney from Orrick, Herrington & Sutcliffe as it builds up its renewable energy finance practice.
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LS Power subsidiary CPower Energy Management has made six new hires as it looks to strengthen its position in the distributed energy resources (DER) market.
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Invenergy has closed the construction financing for its 999 MW Traverse Wind Energy Center, the last to be financed of the three projects that make up its 1,485 MW North Central Wind Energy portfolio in Oklahoma.
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PG&E Corp has appointed Chris Foster as its new executive vice president and CFO, effective March 20.
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Steel manufacturer Nucor Corp has signed a power purchase agreement with Ørsted for a portion of the output of a wind farm in Texas.
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First Sentier Investors has agreed to purchase an additional stake in Terra-Gen, which would raise its interest in the company to 50%.
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A developer has launched an auction for a community solar portfolio in New York as it nears a sale on another similar portfolio in the same state.
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Annova LNG, which is majority owned by Exelon Corp, has scrapped an LNG export project "due to changes in the global LNG market."
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The Commonwealth of Pennsylvania has struck a deal to buy power and renewable energy credits from a Lightsource BP solar portfolio via a retail supply contract with Constellation, which the state government says is the largest solar commitment secured by any government entity in the US — surpassing any federal, state or municipal commitments.
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Soltage has secured a $250 million equity commitment for a 450 MW portfolio of solar, solar-plus-storage and standalone storage assets across the US.
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Czech solar developer Solek has signed an $85.25 million senior secured loan to finance a portfolio of small-scale projects in Chile known as PMGDs.
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Hunt Energy Network, an affiliate of Hunt Consolidated, has raised capital from an insurance fund manager for a portfolio of distributed energy storage assets in Texas.
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Brazil’s investment partnerships agency, PPI, has approved the inclusion of several transmission projects to its national priorities list ahead of tenders set to take place later this year.
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S&P Global Ratings has given the senior secured term loan B financing for I Squared Capital's take private of Atlantic Power Corp a rating of BB-.
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Chevron Canada has pulled funding for its proposed Kitimat LNG Project in British Columbia.
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Houston-headquartered NextDecade Corp has formed a new subsidiary focusing on carbon capture and storage, called NEXT Carbon Solutions, which will develop a CCS project at the site of the Rio Grande LNG export terminal in South Texas.
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Pennsylvania-based PPL Corp has appointed an alumnus of both FirstEnergy Corp and Exelon Corp as general counsel and corporate secretary.
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Texas utility CPS Energy has won approval from the San Antonio City Council to seek an up to $500 million line of credit to provide short-term liquidity in the wake of winter storm Uri.
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FirstEnergy Corp has filled its vacancy for a chief ethics and compliance officer with a hire from another utility holding company as it seeks to disentangle itself from a long-running bribery scandal in Ohio.
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IDB Invest has appointed Orlando Ferreira and Alexandre Meira da Rosa as CFO and chief strategy officer, respectively.
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Enel Green Power has signed an aggregated virtual power purchase agreement with a consortium of four non-utility offtakers – including ridesharing company Uber – which has been described as the largest contract of its kind.
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Several renowned Scotch whisky makers, including Glenmorangie, are working out a spirited plan to power their Highland distilleries with green hydrogen produced using generation from nearby offshore and onshore wind farms.
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Three utilities are seeking regulatory approval for power purchase agreements for a solar and storage project being developed by Invenergy in Wisconsin.
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Generate Capital has hired Alfred Griffin, the founding president of NY Green Bank, to oversee its new sustainable infrastructure credit platform as senior managing director.
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Second round bids are due in the sale of a stake in one of several solar projects that are being developed to replace generation from the coal-fired San Juan Generating Station in New Mexico.
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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 private equity firm has put a roughly 600 MW portfolio of merchant wind projects in New York state on the auction block.
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Macquarie Infrastructure and Real Assets has bought a geothermal energy platform based out of Utah and is combining it with another recent purchase to create one of the largest independent geothermal platforms in the country.
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Initial price talk has been circulated for the term loan B that I Squared Capital is issuing to partly fund its acquisition of North American independent power producer Atlantic Power Corp.
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Invenergy has signed a build-transfer agreement with a utility for a solar project in Indiana, as this type of deal becomes more common in the solar sector.
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An infrastructure fund manager is preparing to auction off its interests in what it is said to be the largest dispatchable distributed generation fleet in Texas.
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Carl Icahn's activist fund Icahn Capital has secured two seats on FirstEnergy's board of directors, weeks after declaring its intention to acquire a stake in the beleagured Ohio electric utility.
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NRG Energy has scrapped its 2021 financial guidance due to uncertainty over the full impact of February's winter storm Uri in Texas, which it expects will be more significant than it had previously reported.
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I Squared Capital is approaching the market with 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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Able Grid Energy Solutions has selected a technology provider for a pair of standalone energy storage projects it is developing in southern Texas, which will sell their output wholesale into the Ercot market.
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Ridgewood Infrastructure has formed a new joint venture with Sustainability Partners to own sustainable water, energy efficiency, transportation, communications and other infrastructure in the US.
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Duke Energy Renewables has revealed the identity of one of the offtakers for its 350 MW Frontier Windpower II project in Kern County, Oklahoma.
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Private equity-backed solar and storage company Catalyze has grown its distributed generation portfolio with the acquisition of two community solar projects totaling 13 MW (DC) in Upstate New York.
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Enel Green Power has signed an aggregated virtual power purchase agreement with a consortium of four non-utility offtakers – including ridesharing company Uber – which has been described as the largest contract of its kind.
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NextEra Energy has priced a floating rate note offering over SOFR rather than Libor for the first time, becoming one of the first non-financial corporate bond issuers to do so.
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Griddy Energy has filed for bankruptcy protection and proposed a reorganization plan owing to the financial devastation wreaked by winter storm Uri in Texas.
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Sunrun has priced a $201 million securitization of leases and power purchase agreements, which it says has the lowest spread out of any previous Sunrun or Vivint Solar asset-backed security issuances to date.
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Gas pipeline company Kinder Morgan has formed a new division called Energy Transition Ventures to identify, analyze and pursue commercial opportunities in the low-carbon energy transition.
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GenOn Energy has launched a project financing for a pair of dual-fuel peaking power plants in PJM Interconnection in the bank market.
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Oaktree Capital Management has reached financial close on a $137 million holding company loan to lever up its stake in a small-scale LNG export project in Florida.
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BlackRock managing director Cathleen Ellsworth, who was co-head of global energy and power infrastructure fundraising and investor relations, has left for a new opportunity.
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Nautilus Solar Energy has bought a 47 MW (DC) community solar portfolio in Maine from ISM Solar Development.
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Dynegy has inked a three-year renewable energy credit contract with Chicago's Metropolitan Pier and Exposition Authority (MPEA) for the McCormick Place convention center.
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Invenergy has secured a 25-year offtake contract with a utility for its Calhoun Solar Center in Michigan.
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British power producer ContourGlobal has closed its $837 million acquisition of a portfolio of gas-fired assets in the US and Trinidad and Tobago, including combined-heat-and-power plants.
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A buyer has emerged for Upper Peninsula Power Co, the Michigan-based electric utility owned by Basalt Infrastructure Partners.
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LS Power has closed its purchase of the 50% stake it did not already own in the 420 MW Yards Creek pumped hydro storage plant in Blairstown, New Jersey.
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Paul Dobson, the former CFO and interim CEO of Canada's Hydro One, has landed a new C-suite role at a fuel cell company.
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Albert Luu, who worked in capital markets at SolarCity and Tesla for many years, has landed a CFO role at another residential solar company, Complete Solar.
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Macquarie Infrastructure and Real Assets (MIRA) is combining two portfolio companies – waste-to-energy business Wheelabrator Technologies and waste-by-rail company Tunnel Hill Partners – and refinancing them with a $1 billion term loan.
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Canadian natural gas and electricity retailer Just Energy has filed for bankruptcy protection following winter storm Uri in Texas.
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LS Power has agreed to buy a 125 MW solar project in California that could be fitted with an energy storage system.
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The Tennessee Valley Authority has renewed its $150 million credit facility arranged by local banks.
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FirstEnergy Corp has appointed Steven Strah as its new CEO, effective immediately.
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Power Finance & Risk is pleased to announce that nominations are now open for its 18th Annual Deals and Firms of the Year Awards.
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Nexamp has closed one of the largest financing transactions for a community solar portfolio in the US, totaling $440 million.
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The Bureau of Ocean Energy Management (BOEM) has completed its environmental review of the 800 MW Vineyard Wind project off the coast of Massachusetts.
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Algonquin Power and Utilities Corp has provided extra details on which of its hedged wind farms in Texas were impacted by winter storm Uri.
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Macquarie Capital's renewable energy development platform Savion has signed a power purchase agreement with a corporate offtaker for a Texas solar project.
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The Tennessee Valley Authority has signed a power purchase agreement with a developer for a solar-plus-storage project in Mississippi, which will help power Facebook data centers.
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Goldman Sachs Renewable Power (GSRP) has agreed to buy a community solar portfolio in New York state from a Spanish sponsor.
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MUFG has introduced a new CLO asset class, bundling $500 million of project finance and infrastructure loans together for Starwood Property Trust in a deal that clearly demonstrated investor appetite for the product.
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This week's PPA Pulse features a Kellogg Co power purchase agreement with a combined wind and battery storage project in Texas.
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White Pine Renewables has completed the Healdsburg Floating Solar Project, which it claims is the largest operational floating solar project in the US.
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Brazil’s state-owned nuclear company, Eletronuclear, has published a bidding notice to contract an EPC company to resume the civil works of the Angra 3 nuclear project.
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Ørsted has secured a pair of corporate power purchase agreements for its 298 MW Haystack Wind project in Nebraska.
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AEP Energy Partners is looking to sign power purchase agreements with wind, solar and battery energy storage projects in PJM Interconnection to support its growing retail business,
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The US Department of Energy (DOE) has appointed SunEdison and Generate Capital founder Jigar Shah to the top job in its Loans Programs Office (LPO).
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A developer recently recirculated teasers for a 50 MW solar project in North Carolina after a deal with a foreign buyer was nixed.
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Brazilian renewable power producer Casa dos Ventos has closed a loan with the country’s development bank BNDES to fund two wind farms.
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Clearway Energy has priced a $925 million 10-year green high yield bond and launched a tender offer for debt maturing in 2025 to take advantage of low rates and push out its maturity profile.
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FTI Consulting has added to its power and renewable energy advisory practice in San Francisco with the hiring of former Citi banker Miriam Wrobel as a senior managing director.
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Enel Green Power North America has signed a power purchase agreement with cereal maker Kellogg Co for the output of a combined wind and battery storage project in Texas.
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Utility CenterPoint Energy has issued $1.7 billion in short-term fixed- and floating-rate debt to help alleviate the impact of winter storm Uri in Texas.
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BlackRock Real Assets' solar development platform Distributed Solar Development (DSD) has secured a $150 million revolving credit facility to finance the construction of distributed generation projects in the commercial and industrial market.
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Investec has expanded its power and infrastructure team in New York with the addition of a senior banker who is an alum of First Reserve and Credit Suisse.
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EDP Renewables has closed its acquisition of an 85% stake in C2 Energy Capital's distributed solar platform C2 Omega.
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Castleton Commodities International has found a buyer for an merchant wind farm in West Virginia.
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Apex Clean Energy has sold its Jayhawk Wind project in Kansas, which has a power purchase agreement with Facebook.
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The Carlyle Group has announced that it has struck a deal to sell a combined-cycle gas-fired power plant in Georgia, weeks after filing for US Federal Energy Regulatory Commission approval to sell another gas-fired asset in the same state.
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Hanwha Q Cells has sold an operational, contracted solar project in Texas to Adapture Renewables, a Californian company that is backed by Kirkbi, the investment holding company of the family behind Lego Group.
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Deal watchers say the sudden bankruptcy filing of Brazos Electric Power Cooperative – which had previously enjoyed single-A credit ratings – could be the first of many in the wake of the recent winter storms in Texas.
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EDF Renewables North America has signed a power purchase agreement with a second offtaker for its 345 MW Space City Solar project in Texas.
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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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British energy infrastructure investor SDCL Energy Efficiency Income Trust has closed its acquisition of a portfolio of distributed generation assets and a 50% stake in US renewables developer Onyx Renewable Partners.
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Akin Gump’s project finance and renewables practice has relocated en masse to Allen & Overy, greatly expanding the British firm’s presence in the US, which will include an office on the West Coast for the first time.
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NRG Energy is selling a portfolio of US fossil fuel-fired generation assets totaling 4,850 MW to ArcLight Capital Partners.
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Georgia Power has issued its first sustainability bond – which is similar to a green bond but with an expanded list of eligible projects that include social initiatives.
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Altus Power America plans to start construction on a 4.5 MW ground-mounted solar project in Kapolei, Hawaii, on the island of O'ahu, which is expected to be the largest community renewable energy project in the state.
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CenterPoint Energy has secured $1.7 billion in financing commitments to help weather the impact of winter storm Uri in Texas.
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In February, for the first time, Power Finance & Risk brought together representatives of the bank loan, private placement, term loan B and tax equity markets with a project sponsor to discuss the state of project finance, how they coped with the Covid-19 pandemic and what is in store for 2021.
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As winter storm clouds pass over Texas, frozen natural gas pipelines thaw out and icy wind turbine blades start spinning again, project finance professionals and investors are starting to form a clearer picture of the fallout for power generation assets in the state.
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New York-based hydrogen fuel cell manufacturer Plug Power has closed a $1.6 billion investment from South Korea's SK Group.
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Wells Fargo's tax equity investments in wind, solar and fuel cell projects in the US have surpassed the $10 billion mark.
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Enel Green Power North America has sold a 25 MW portfolio of hydro plants in the US.
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AES Corp detailed power purchase agreements for 3 GW of renewable and energy storage projects across the Americas that the company's subsidiaries signed in 2020 as it released its year-end financial results.
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Macquarie-backed waste-to-energy business Wheelabrator Technologies has struck a deal to sell a biomass plant in California.
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Castlelake has found a buyer for a repowered 57.5 MW wind farm in California that it financed with debt and tax equity last summer.
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CenterPoint Energy is requesting regulatory approval for a power purchase agreement for an Indiana solar project.
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Exelon Corp has announced its intention to spin its competitive generation and retail power businesses off into a separate publicly-listed company following a strategic review.
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Investec has appointed Ralph Cho and Michael Pantelogianis as global co-heads of its power and infrastructure finance group.
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AES Corp subsidiaries Indianapolis Power & Light Co and Dayton Power and Light Co have announced that they will go by new names as part of a rebranding.
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A $147 million debt raise for the construction of a small-scale LNG facility in Florida is slated to close imminently.
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Capital Dynamics is developing a 300 MW solar project in Posey County, Indiana, to be sold to a utility company once it is online.
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Goldman Sachs managing director Jean-Pierre Boudrias, who led the investment bank's North American project finance desk, has left the firm after almost eight years.
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Harbert Management Corp has agreed to acquire an equity stake in a roughly 680 MW simple-cycle, gas-fired power plant in Georgia.
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New Columbia Solar has rounded up tax equity and debt financing for a portfolio of 50 distributed solar projects in the District of Columbia.
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The Carlyle Group is taking full ownership of the Patriot and Liberty combined-cycle gas-fired assets in Pennsylvania by buying out its co-investor, EIG Global Energy Partners.
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Brookfield Infrastructure Partners and Kinder Morgan have struck a deal to sell a minority stake in their jointly owned Natural Gas Pipeline Co of America (NGPL) to ArcLight Capital Partners, weeks after PFR reported that ArcLight was among the bidders circling the asset.
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Cordelio Power has bought a 400 MW wind project that is under development in Audrain County, Missouri.
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Innergex Renewable Energy says that its renewable energy assets in Texas, which have hedges with Citi and Shell Energy North America, have been affected both positively and negatively as a result of the chilling winter weather in the state.
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Algonquin Power & Utilities Corp could lose up to $55 million as a result of the Texas winter storms, which have caused its hedged wind projects to freeze over, undercutting revenues.
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NRG Energy has pushed back its fourth quarter 2020 earnings call because the company's CEO is tied up dealing with the fall-out of the recent power crisis in Texas.
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Capital Dynamics has secured a power purchase agreement for a 150 MW solar project it is developing in Indiana.
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Kirkland & Ellis has hired a partner in its debt finance practice in New York from a rival law firm.
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People's United Bank has launched a new utilities, power and renewable energy franchise to be led by a hire from another regional lender.
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Arroyo Energy has begun the permitting process for a 126 MW solar project in the Chilean region of Antofagasta.
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Orrick has promoted two energy and infrastructure lawyers to partner.
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Energy Impact Partners has joined in the series C fundraising round for AddÉnergie Technologies, a Canadian electric vehicle charging company.
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The World Bank has appointed Makhtar Diop as managing director and executive vice president to head the International Finance Corp effective March 2021.
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When Clearway Energy Group recently offloaded a 1.6 GW portfolio of renewable energy assets to its yieldco Clearway Energy, third-party co-investor Hannon Armstrong Sustainable Infrastructure Capital opted for an unusual capital structure, swapping out common equity for preferred equity instead.
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Eight community choice aggregators in California are aiming to leverage their collective purchasing power by combining to form a new joint powers authority called California Community Power.
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Securitization exists in the public consciousness primarily as a shadowy corner of the capital markets in which out-of-control financial engineering causes global economic meltdowns. Could it be due a reappraisal?
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Details have emerged regarding the expected timeline for the sale of battery storage developer and independent power producer Key Capture Energy.
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Origis Energy is seeking a buyer for a portfolio of three solar and battery storage projects each located in a different US states.
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Nuveen has agreed to acquire C-PACE (commercial property assessed clean energy) financier Greenworks Lending.
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Carl Icahn's activist fund Icahn Capital has written a letter to FirstEnergy Corp declaring its intention to acquire a stake in the electric utility, which is entangled in a long-running Ohio bribery scandal.
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Southern California Edison has priced its first securitization in more than 20 years, the proceeds of which it will use to finance upgrades and other costs associated with its wildfire prevention program.
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As winter storms wallop Texas, leaving around four million people to wait out rolling blackouts and sending power prices skyrocketing, project finance professionals and investors are assessing the fallout for project-financed assets in the Lone Star State.
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Swiss private bank Lombard Odier has made two senior hires in the US to help cultivate sustainable private credit strategies.
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Sunnova Energy International has reached a deal to buy the residential solar business of homebuilder Lennar Corp.
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Allete Clean Energy has signed a deal to sell two repowered wind projects in Minnesota to utility holding company Xcel Energy.
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Duke Energy has awarded 20-year power purchase agreements to 11 solar projects totaling 664 MW in North Carolina following a competitive request for proposals.
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Dallas-based oil and gas pipeline company Energy Transfer has established a new group aimed at developing alternative energy projects.
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Appalachian Power has issued a request for proposals for up to 300 MW of solar and wind generation in Virginia, with the option for battery storage.
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Longroad Energy Holdings has struck a deal to buy a 900 MW (DC) portfolio of solar projects in Arizona from First Solar.
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Oil company Ecopetrol has entered into an exclusivity agreement with Colombia's Ministry of Finance and Public Credit to buy a majority stake in transmission company Interconexión Eléctrica (ISA).
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Sunpin Solar has confirmed that it secured a financial hedge with Morgan Stanley for its 70 MW Titan Solar 1 project in California, almost a year after PFR first reported that the deal was in the works.
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EDF Renewable Energy has signed a power purchase agreement with German chemical company BASF for the output of a wind farm in Texas.
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Portland General Electric has signed a 15-year power purchase agreement for the output of a solar project in Oregon, in part to supply chip maker Intel with renewable energy.
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The underwriters of the initial public offering for Apollo Global Management's third energy transition special purpose acquisition company (SPAC), Spartan Acquisition Corp III, have exercised their greenshoe option in full, bringing the total size of the deal to $552 million.
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The past week's PPA news has seen corporates, CCAs and local communities emerging as the winners of renewable energy procurements across North America.
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US lawmakers have reintroduced the Growing Renewable Energy and Efficiency Now (GREEN) Act, first floated in June 2020, which would extend tax credits for renewable and carbon capture projects and create an incentive for standalone energy storage.
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Peninsula Clean Energy has signed power purchase agreements totaling 245 MW for the output of three Californian wind farms.
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Eight community choice aggregators in northern and central California are looking to leverage their collective purchasing power by combining to form a new joint powers authority (JPA) called California Community Power.
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Southern California Edison is marketing its first securitization in 20 years to finance upgrades and costs associated with its wildfire prevention program.
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Northwestern Energy, a utility serving South Dakota, Nebraska and Montana, has appointed a new chief operating officer and CFO.
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Macquarie Capital's renewable energy development platform Savion is putting together a roughly $212 million debt package for a 200 MW solar project in Texas that has two non-utility offtakers.
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Allete Clean Energy has secured a pair of offtakers for its 303 MW Caddo Wind Project in Oklahoma.
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Tampa Electric, one of Florida's largest investor-owned utilities, has appointed a successor to president and CEO Nancy Towers, who is retiring at the end of June.
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Winston & Strawn has formed a fully integrated energy & infrastructure industry group that will be led by partners Mike Blankenship, Mike Pikiel and Rich Shutran.
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American Electric Power (AEP) has found a buyer for its 48 MW Racine Plant in Ohio, following an auction process that was launched in the summer of 2020.
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Petrobras has started the non-binding phase on the sale of stakes in two pipelines, Transportadora Brasileira Gasoduto Bolivia-Brasil (TBG) and Transportadora Sulbrasileira de Gás (TSB), following its massive divestment program.
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Apollo Global Management has increased the size of the initial public offering for its third blank check company targeting the energy transition and sustainability to $480 million.
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Missouri-based gas distributor and marketer Spire is planning to raise $150 million through an underwritten public equity offering.
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NTE Energy, traditionally a gas-fired power plant developer, is shifting toward renewables with plans to develop solar and storage projects totaling more than 5 GW over the next five years.
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Energy storage firm Highview Power, whose projects are based on liquid air technology, has closed a $70 million growth capital funding round for its pipeline of projects in the US, Latin America and Europe.
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Renewables developer sPower has announced the financing of its 400 MWh Luna Storage project in California, which was reported by PFR in January.
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Solar and storage developer Belltown Power Texas is marketing an 870 MW portfolio of projects in the Lone Star State to investors.
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GenOn Energy is preparing to launch a project financing for a pair of dual-fuel peaking power plants in PJM Interconnection in the bank market.
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A Hong Kong-based buyer has emerged in the sale of a pair of wind farms in Canada, marking the company's first renewables investment in the country.
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The Abu Dhabi Future Energy Co, also known as Masdar, has reached first close on its acquisition of a 50% stake in a 1.6 GW solar, wind and battery portfolio from EDF Renewables North America.
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Apollo Global Management has launched a third blank check company targeting the energy transition and sustainability, hot on the heels of its second such vehicle acquiring residential solar finance company Sunlight Financial.
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Riverstone Holdings' managing director and co-head of power and renewables, Carl Williams, has left the firm after nearly 13 years.
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Oil company Ecopetrol has begun exclusive negotiations to acquire the Colombian government’s majority stake in international transmission company Interconexión Eléctrica (ISA), after making a bid in January.
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The Blackstone Group has reached a restructuring deal with the creditors of its Frontera combined-cycle gas-fired plant in Texas, which sells its output across the border in Mexico.
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TransAlta's chief operating officer, John Kousinioris, who is also president of TransAlta Renewables, will take the top job and will join the board of TransAlta on April 1.
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An official has left NextEra Energy after 14 years with the company for a new role at a renewables developer based in San Francisco.
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Energy Impact Partners and Trilantic North America have agreed to buy a controlling interest in battery storage system supplier Powin Energy.
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Copenhagen-based AIP Management has agreed to invest in a pair of battery storage projects in California that Southern Power is developing on the sites of solar projects that the two firms already co-own.
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Indianapolis Power & Light Co has awarded a build-transfer agreement to Invenergy for a 195 MW solar project in Indiana.
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French oil and gas supermajor Total has solidified its presence in US renewables with the acquisition of a 2.2 GW fleet of development-stage solar projects with 600 MW of co-located battery storage assets in Texas.
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Key Capture Energy has closed a roughly $100 million financing for a portfolio of six energy storage projects in Texas, and is conducting pre-marketing for debt to finance another portfolio in the same state.
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Catalyst Power Holdings, a portfolio company of BP Energy Partners, has bought a New York-headquartered electric retailer.
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The Bureau of Ocean Energy Management (BOEM) is resuming its environmental review of the 800 MW Vineyard Wind project off the coast of Massachusetts.
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Special purpose acquisition companies (SPACs) have proliferated at a blistering pace over the past year, and market participants are virtually certain that at least one renewable energy developer will go public this way by the end of 2021.
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NRG Energy's CFO Kirkland Andrews has stepped down from his role and is headed to Evergy where he will take up the same title.
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Boralex and the Innu communities in Québec have secured a 30-year power purchase agreement for their jointly owned Apuiat wind farm.
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Vinson & Elkins has recruited six lawyers from a rival firm to boost its renewable and sustainable energy and tax practices.
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Leyline Renewable Capital has invested in an energy storage developer based in Columbus, Ohio, to support the development of up to 2 GW of projects across the US.
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St Louis-based agribusiness and food company Bunge has inked a 10-year contract to power its Fort Worth, Texas oils packaging facility with renewable energy.
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The Committee on Foreign Investment in the United States has cleared Avangrid's proposed $4.3 billion merger with PNM Resources.
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Citi has appointed Shikher Bisaria as its new head of Northeast power trading in Houston.
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Northern Indiana Public Service Co has reached financial close on an unusual tax equity financing for a build transfer project in Indiana, which recently came online.
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A Canadian infrastructure fund manager has launched a sale process for its 49% stake in a 30 MW wind farm in Ontario.
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Standard Solar has obtained tax equity financing for and brought online 17 community solar projects in Minnesota and Massachusetts totaling 24.6 MW.
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Ares Management Corp has announced its investment in Apex Clean Energy's 302 MW Lincoln Land wind project in Illinois, which was first reported by PFR on January 12.
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Boralex has closed its acquisition of controlling interests in an operational seven-project solar portfolio in the US for C$277 million ($215.6 million).
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Brookfield Infrastructure Partners has agreed to sell its district energy business Enwave Energy to two groups of investors, one of which will take ownership of the US business and another the Canadian assets.
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A trio of senior officials have left Capital Dynamics' energy infrastructure business to join a large private equity firm, where they will be focusing on renewable energy.
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A Thai investor has taken a stake in the 972 MW gas-fired Linden Cogen facility in New Jersey, following the trend of Asian investors - previously Korean and Japanese - who have taken an interest in the project.
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The identities of the bookrunners on Sunrun's $350 million six-year convertible bond offering have been revealed.
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JLC Infrastructure, the infrastructure investor backed by former Los Angeles Lakers star Earvin "Magic" Johnson, Jr, has sold down a stake in solar developer Greenskies Clean Focus.
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NextDecade Corp has abandoned the Galveston Bay site where it was developing an LNG export facility, owing to regulatory issues.
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Caithness Energy has refinanced the holding company debt associated with a combined-cycle gas-fired plant in New York.
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Recently, it seems that every day brings blank check company news, whether it’s an initial public offering or a merger. But could a privately held renewable energy project developer go public this way by the end of the year?
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Rockland Capital has appointed a financial adviser for the sale of a merchant gas-fired peaker plant in Texas.
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Singapore's sovereign wealth fund GIC Private Limited has agreed to pay $2.05 billion to acquire a 19.9% stake in Duke Energy Indiana.
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Norwegian and British oil multinationals Equinor and BP have sealed their previously announced strategic offshore wind partnership, as part of which BP paid $1.1 billion for a 50% non-operating stake in Equinor's Empire Wind and Beacon Wind projects off the coasts of New York and Massachusetts.
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Last year, solar ABS faced its first major test in the form of economic disruption wrought by the Covid-19 pandemic. To discuss how the market weathered the storm, PFR brought together a panel of market participants, including both issuers and investors.
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Lightsource BP has signed a virtual power purchase agreement with Verizon Communications for the output of a solar project in Indiana.
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Starwood Infrastructure Finance's former head of syndications and capital markets has started in a new role at a project finance lender in New York.
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Renewables developer sPower has obtained tax equity financing for North Peak, which is a portfolio of four solar projects located partly in its home state of Utah and partly in California.
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Global Infrastructure Partners has closed its sale of Competitive Power Ventures to a consortium of Israeli investors.
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EDF Renewables North America has bought the remaining stake in New York-based distributed solar developer EnterSolar, having initially acquired half of the company two years ago.
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Oya Solar has closed development and construction financing for about 350 MW to 400 MW (DC) of community solar projects across New York state.
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Solar and energy storage developer Intersect Power has secured more than $600 million in corporate equity and debt as it looks to expand into green hydrogen.
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Sunrun has priced a $350 million six-year convertible bond that it offered to investors just as it revealed preliminary fourth quarter results.
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Lightsource bp has closed a $380 million debt package, tax equity and mobilized construction for 316 MW of solar projects in Texas.
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BlackRock Real Assets' small-scale solar development platform Distributed Solar Development has obtained a $300 million debt facility.
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Brazilian petrochemical company Braskem has inked a wind power purchase agreement with developer Casa dos Ventos.
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Colombia’s Empresa Colombiana de Petróleos (Ecopetrol) has revealed plans for six solar projects in the country as it aims to grow its fleet to 400 MW by 2023.
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Developer Delaware River Solar has found a buyer for a 20 MW solar project in New York state with a 20-year renewable energy credit contract, following an auction process.
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LNG project developer NextDecade Corp has named Brent Wahl as its new CFO, effective February 1.
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Residential solar financier Sunlight Financial has agreed to go public via a merger with Apollo Global Management's latest energy transition and sustainability-focused blank check company, Spartan Acquisition Corp II.
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A buyer has emerged for First Solar's development platform, following a competitive auction process.
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In order to deepen our understanding of the benefits and the pitfalls of advanced hedging and offtake strategies, PFR brought together a group of experienced market participants to share their perspectives and insight.
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Canadian developer Potentia Renewables refinanced a two-phase solar project in the Dominican Republic toward the end of last year with debt from a local fund manager.
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The blank check company launched by bond manager Pacific Investment Management Co (PIMCO) last year with former NRG Energy CEO David Crane at the helm has selected LS Power's electric vehicle charging business as its target.
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Greenbacker Capital Management has added to the senior capital raising and origination team of its recently established middle-market fund.
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NRG Energy is raising debt and equity for for a merchant gas-fired project in Queens, New York, that will replace an existing asset the company owns on the site.
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The years-long stampede of international capital into the US renewable energy sector has continued unabated in the first few weeks of 2021, as latecomers from around the world have finally got in on the action.
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The Carlyle Group has hired an official who previously worked in project finance and capital markets at Clearway Energy Group to its renewables and sustainable energy team.
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Energy Capital Partners has filed a prospectus for the initial public offering of a blank check company called ECP Environmental Growth Opportunities Corp.
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New Energy Solar has struck a deal to sell a 50% stake in its 154 MW Mount Signal 2 project in California to an affiliated fund after a previous deal with a third party fell through.
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Swell Energy's plan to deploy virtual power plants on three Hawaiian islands has received the green light from the state's Public Utilities Commission.
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Three of FirstEnergy Corp's Pennsylvania utilities have launched a request for proposals (RFP) for solar energy credits.
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The advisers have been revealed on Macquarie's Green Investment Group's acquisition of a stake in Californian utility-scale energy storage developer esVolta.
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London-based fund manager NextEnergy Capital has acquired a portfolio of small-scale solar projects totaling 42.2 MW in Chile from Grenergy Renovables.
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Dominion Energy has bought a 150 MW solar project in Ohio from Invenergy.
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Bakken Midstream Natural Gas is planning to bring online a power plant that will run primarily on ethane in North Dakota, and has completed two rounds of capital raising.
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Spain’s Naturgy Energy Group has bought a a portfolio of US solar assets developed by Candela Renewables from Macquarie.
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British renewables investor Greencoat Capital is making its first investment in US renewables with the acquisition of a stake in a portfolio of Texas wind farms.
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EDP Renewables has signed a deal to acquire a majority stake in C2 Energy Capital’s US distributed solar platform, C2 Omega.
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A Greenbacker Capital Management fund that was created last year has invested in an owner-operator of hydro power plants in New York state.
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Alternative asset manager Power Sustainable Capital has launched a $1 billion renewable energy investment platform targeting the US and Canada.
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Morgan Stanley has appointed a new head of North American power and gas trading as well as two regional heads of power origination.
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Macquarie’s Green Investment Group has agreed to take a stake in Californian utility-scale energy storage developer esVolta.
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Canada Infrastructure Bank and Oneida Energy Storage have signed a memorandum of understanding for the largest project of its kind in Canada - a 250 MW/1000 MWh energy storage facility in southwestern Ontario.
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I Squared Capital has struck a $961 million deal to take listed independent power producer Atlantic Power Corp private.
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Ameren Missouri has closed the acquisition of its second wind farm, the 300 MW Atchison Renewable Energy Center in northwest Missouri, pursuant to a build-transfer deal with Invenergy.
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Pine Gate Renewables has closed financing for a 12-project portfolio of solar and solar-plus-storage sites in North Carolina.
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PepsiCo has selected two wind projects being developed by Ørsted to power its operations in the US.
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French oil giant Total has signed a 50:50 joint venture agreement with Hanwha Group-owned solar and energy storage developer 174 Power Global to develop a 1.6 GW portfolio in the US.
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As battery energy storage begins to grow out of its niche and emerge into the project finance mainstream, several recently completed and live deals point to the road ahead – and the value of creditworthy counterparties.
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Renewable energy riders are going through the regulatory process for an 8 MW solar array being developed by NextEra Energy Resources in Madison, Wisconsin.
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An independent power producer in Texas is close to selecting arrangers for a potential financing of its merchant generation portfolio.
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With its Spotsylvania Solar Energy Center in Virginia, developer sPower offered the project finance market something it hadn’t seen before. But while the market responded positively to the project, the road to the finish line was far from smooth.
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Credit Suisse has promoted its head of North America renewables in New York to a new global position overseeing investment banking in renewables and sustainable energy technology.
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Morgan Stanley Energy Partners (MSEP) has invested in SolMicroGrid, a developer and operator of microgrid systems for commercial and industrial customers in North America.
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Agilitas Energy is building its pipeline of community solar projects in Massachusetts and New York, after selling a portfolio of small-scale solar assets to CarVal Investors late last year.
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The state of New York has chosen two projects sponsored by Equinor and its joint-venture partner BP in its latest offshore wind tender.
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Excelsior Energy Capital has closed its first fund, Excelsior Renewable Energy Investment Fund I, with capital commitments of $504 million.
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A Boston-based investment holding company that specializes in financial services companies has taken a stake in US renewable energy investor Greenbacker Group.
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Recurrent Energy has closed the sale of its Slate solar-plus-storage project in California to Goldman Sachs Renewable Power after slotting tax equity into place.
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Novatus Energy and Southwest Generation, two portfolio companies of JP Morgan Asset Management's infrastructure investment funds, have merged to become a combined renewable energy and gas-fired power platform.
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Strata Solar has sealed a $69 million debt package for a portfolio of contracted solar assets in North Carolina.
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Invenergy has closed construction financing for the first phase of its 1,310 MW Samson Solar Energy Center in northeast Texas.
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Harrison Street has bought five commercial, industrial and community solar portfolios in California and Minnesota following a nearly two year-long sale process.
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Invenergy sealed loans at the end of last year for the three large wind farms it is preparing to build in Oklahoma for American Electric Power utility companies.
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Evergy's CFO Tony Somma is retiring after 27 years with the company and its predecessor, Westar Energy.
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Axium Infrastructure has bought a 49% stake in Cordelio Power's 396 MW renewables portfolio in southwestern Ontario.
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Richard Grosdidier – whose solar finance career has included stints at NextEra Energy, NRG Energy, Innogy Renewables and Sunfinity Renewables – has turned to microgrids for his next challenge.
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Brookfield Asset Management has agreed to buy the 845 MW Shepherds Flat Wind Farm in Oregon from Caithness Energy.
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Chicago-based investment bank Marathon Capital has established an outpost in Europe for the first time with a senior hire from Moelis & Co in London.
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Ares Management Corp has financed a contracted wind farm in Illinois that it acquired from a developer last year.
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South Korea's SK Group has agreed to invest $1.5 billion in hydrogen fuel cell manufacturer Plug Power.
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Fifth Third Bank has recently provided a series of construction debt and tax equity commitments for community solar and distributed generation portfolios across six US states.
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A developer has put a 1.05 GW solar-plus-storage platform on the auction block.
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Texas utility CenterPoint Energy has added former Calpine Corp and Talen Energy treasurer Stacey Peterson and investment banker Philip Holder to its senior finance team.
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PFR can reveal the identities of additional financial and legal advisers on The Blackstone Group's sale of a 50% stake in Onyx Renewable Partners and a 175 MW portfolio of commercial and industrial solar assets to SDCL Energy Efficiency Income Trust.
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Details have emerged on PSEG Power's proposed sale of its 468 MW (DC) Solar Source portfolio.
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A sponsor is auctioning off a stake in a 100 MW/400 MWh standalone battery storage asset in California that it acquired last year.
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US Secretary of Energy Dan Brouillette has announced that John Hairston will stay on as administrator and CEO of the Bonneville Power Administration, a position he has held on an acting basis since September 2020.
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AES Corp has sealed a power purchase agreement for a project in Hawaii that combines solar generation with pumped storage hydro.
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Hannon Armstrong Sustainable Infrastructure Capital (HASI) has tweaked the roles of several of its senior officials as former CFO Brandan Herron transitions to an advisory role.
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Lightsource BP is in the process of financing a solar project in Texas on the basis of a proxy generation power purchase agreement.
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A developer headquartered in France is seeking equity partners to take a stake in a solar project that has been selected to replace the output of the San Juan Generating Station coal-fired plant in New Mexico.
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Apex Clean Energy has tripled the size of a letter of credit facility provided by Helaba to cover projects development costs.
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Solar and energy storage developer Origis Energy has completed a management buy-out of its non-operational shareholders.
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Duke Energy has named Jack Sullivan vice president of investor relations, succeeding Bryan Buckler, who recently left the company for another career opportunity.
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Allete Clean Energy has secured tax equity financing totaling $350 million for a pair of recently completed wind projects in two separate transactions.
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Recurrent Energy has completed the sale of its 144 MW Pflugerville Solar project in Texas to Duke Energy Renewables.
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Renewable energy advisory firm TortoiseEcofin has floated its first open-ended fund on the London stock exchange – Ecofin US Renewables Infrastructure Trust.
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Starwood Energy Group Global has recruited Jeffrey Levy, the former general counsel of Atlantic Power Corp, as deputy general counsel and managing director.
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Southwestern Energy Co's executive vice president and CFO Julian Bott passed away on January 3. He was 57.
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BlackRock Real Assets-owned Distributed Solar Development has bought a pair of community solar projects in New York totaling 10 MW.
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The Carlyle Group has committed to invest $374 million in Amp Solar Group, also known as Amp Energy, a Canadian renewables developer that is active around the world.
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FirstEnergy Corp has appointed long-time PG&E Corp general counsel Hyun Park as its new senior vice president and chief legal officer, effective January 11.
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Clearway Energy Group has closed a $427 million construction loan for its 354 MW Mesquite Sky wind project in Texas.
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NRG Energy has completed its acquisition of North American energy retailer Direct Energy from British utility Centrica.
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BluEarth Renewables has acquired stakes in two contracted solar projects in Alberta from Canadian Solar.
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Renewables developer sPower reached financial close on its Luna Storage battery project in Lancaster, California, at the end of last year with a deal that demonstrates the ability of lenders to get comfortable underwriting standalone storage projects over longer lifespans.
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German developer PNE has appointed Karl Dahlstrom as CEO of its US subsidiary following the retirement of Ron Flax-Davidson at the end of 2020.
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Canadian yield company TransAlta Renewables has agreed to acquire two North American wind projects and a cogeneration facility totaling 303 MW from its developer-sponsor TransAlta Corp.
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Pattern Energy has closed the financing for its Western Spirit transmission line and wind project portfolio in New Mexico.
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Canadian developer Innergex Renewable Energy has closed on a construction loan and tax equity commitment for its 225 MW Griffin Trail wind project in northwest Texas.
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Global Infrastructure Partners has announced its acquisition of the US renewable energy business of fund manager MAP Energy, which includes a seasoned portfolio of wind and solar royalty investments.
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Brazilian power generator and distributor Light has reached an exclusivity agreement to sell a stake in a portfolio of small hydro plants to Brasal Energia as part of a plan to divest non-core assets,
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London-based fund manager Sustainable Development Capital (SDC) has acquired an additional 15% stake in Primary Energy Recycling Corp, a portfolio of waste-heat-to-power and cogeneration projects supplying steel mills in the Midwest.
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Energy storage developer EnerSmart has chosen Eos Energy Enterprises to provide zinc-based batteries for a portfolio of utility-scale projects in California.
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AES Corp's energy storage solutions provider Fluence has won a $125 million equity investment from the Qatar Investment Authority.
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Sunpin Holdings has confirmed that it obtained a tax equity investment from Morgan Stanley for a solar project in California, almost a year after PFR reported that the developer was discussing the deal with the investment bank.
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Pennsylvania-based gas and power distributor UGI Corp has emerged as the buyer for Mountaineer Gas, which is the largest local gas distribution company in West Virginia, following a competitive auction process run by Moelis & Co.
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Karen Wong, a Los Angeles-based partner in Milbank's global project, energy and infrastructure finance group with over three decades of legal experience, has retired.
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Capital Dynamics' Clean Energy Infrastructure business has acquired the majority stake in the 130 MW Arlington Valley Solar Energy II (AVSE II) project in Arizona from co-owner Apollo Global Management.
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Capital Dynamics has sold a majority stake in two solar projects totaling 81 MW, following a competitive auction process launched last year.
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London-based fund manager Sustainable Development Capital has agreed to acquire four commercial and industrial solar portfolios totaling more than 175 MW from Onyx Renewable Partners, as well as a 50% stake in Onyx's follow-on pipeline, which is expected to exceed 500 MW over the next 5 years.
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EDF Renewables North America has secured an offtaker for a portion of the output from its 354 MW Space City Solar Project in Texas.
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Brazil's Geradora de Energia do Amazonas (GERA Amazonas) has awarded a contract to Wärtsilä to convert a diesel-fueled power plant in the country to running on natural gas.
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Spain’s Grupo Ibereólica has begun the permitting process for a 793.6 MW wind project in the Chile's Antofagasta region.
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Enel Green Power’s subsidiary in Peru is progressing with the development of a 108 MW wind farm expansion in the country.
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Safety this holiday season is a top priority for IntelStor, which says it is providing Santa Claus with wind turbine geo-location mapping, to make sure that his sleigh ride round the globe goes off without a hitch.
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Pacific Gas and Electric Co has awarded resource adequacy contracts to six lithium-ion battery storage projects in California totaling 387 MW.
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Ameren Missouri has acquired the 400 MW High Prairie Renewable Energy Center in Adair and Schuyler counties.
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Pine Gate Renewables has secured debt financing for its Sugar Solar project in North Carolina.
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Chile’s National Energy Commission (NEC) has launched a power auction that will take place in 2021, after postponing it for a year.
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The founder of Brazil's Renova Energia has sold his shares to his partner and is leaving the company.
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Altus Power America, a commercial and industrial-scale solar developer that is owned by The Blackstone Group, has acquired 100 MW of distributed generation solar assets across six US states.
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Nautilus Solar Energy has closed tax equity financing for a 6.68 MW community solar project in Rhode Island.
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Clearway Energy Group has identified Hannon Armstrong Sustainable Infrastructure Capital as the co-investor – alongside yield company Clearway Energy – in a 1.6 GW portfolio of wind, solar and solar-plus storage assets.
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The identity of one of the investors on a $560 million private placement issued earlier this year to refinance a hydro project in Louisiana has been revealed.
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Sunpin Solar has closed an up to $50 million senior secured revolving loan facility.
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RWE Renewables has secured a tax equity investor for its 220 MW Cranell Onshore Wind Farm in Refugio County, Texas.
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8minute Solar Energy has upsized a $225 million letter of credit facility that it secured earlier this year to $350 million, with funds from a trio of new lenders.
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Italy's Enel has approved the merger of Enel Green Power's renewable energy businesses in Central and South America – other than those in Chile – into its Chilean-listed subsidiary Enel Americas.
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A 50% stake in a natural gas pipeline and storage developer in the Northeastern US is up for sale.
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IDB Invest has agreed to finance the installation of distributed solar projects on some of Companhia de Saneamento Básico do Estado de São Paulo (Sabesp's) water treatment plants.
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Nautilus Solar Energy has appointed a new general counsel who previously worked at Akin Gump.
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The federal tax credits for solar, wind and carbon capture projects could be extended as part of a $900 billion bipartisan Covid-19 relief bill that congressional leaders unveiled on December 20.
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Canada's Polaris Infrastructure is considering a refinancing of its San Jacinto geothermal plant in Nicaragua after negotiating a 10-year extension of the project's power purchase agreement.
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Fengate Asset Management has acquired a majority interest in a 250 MW wind project in Texas, which has tax equity in place from Berkshire Hathaway Energy and GE Energy Financial Services.
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A distributed generation shop has launched a tax equity raise for a portfolio of community solar projects in New York state.
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Dominion Energy has filed a construction and operations plan with the Bureau of Ocean Energy Management (BOEM) for its 2,640 MW Coastal Virginia Offshore Wind project.
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Leyline Renewable Capital has agreed to provide development-stage capital for a New Hampshire-based solar developer.
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The European Investment Bank and Latin American development bank CAF have signed an agreement to invest in infrastructure projects, including energy assets, in Latin America and the Caribbean.
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In the only auction held by Brazil’s power regulator Aneel in 2020, the bidding for transmission lines has ended with all 11 lots being awarded.
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Apex Clean Energy has secured a $200 million senior secured loan from a family office investor group.
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Quinbrook Infrastructure Partners and Birch Infrastructure have formed a joint venture to develop and construct renewables-powered data centers in the US.
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Con Edison has struck a deal with 174 Power Global to build the100 MW/400 MWh East River Energy Storage System on an industrial site in Astoria, Queens, in New York state.
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Invenergy has closed construction financing from a pair of banks for its 100 MW Dry Lake Solar Energy Center in Nevada.
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A tight bank club has closed financing for one of North America's largest district energy systems, after the sponsor abandoned a sale process earlier this year.
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Invenergy has sold a 500 MW development-stage wind and solar portfolio in Montana to a Houston-based energy storage company.
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Con Edison Development has closed the sale of a shovel-ready, 25 MW battery storage project in Texas.
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The offtaker of Swift Current Energy's 250 MW Black Diamond solar project in Illinois has been revealed.
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German utility Uniper has appointed a new North American head of power and gas trading.
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CPP Investments-owned Cordelio Power has bought a 150 MW development-stage solar project in the Show-Me state.
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Paris-based infrastructure investor Ardian has hired a managing director in New York.
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Nashville-based utility-scale solar developer Silicon Ranch Corp has raised $225 million of fresh equity capital.
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Capital Dynamics has secured a long-term offtaker for its 280 MW development-stage Gibson Solar project in Southern Indiana.
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Algonquin Power & Utilities Corp is planning to purchase a solar project in Virginia that it already owns a stake in.
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Starbucks has agreed to buy a portion of the electricity from Terra-Gen's mammoth 1,118 MW/ 2,165 MWh solar-plus-storage project in California, which will soon start construction.
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Distributed energy and grid solutions provider Swell Energy has secured $450 million from Ares Management Corp and Aligned Climate Capital to deploy virtual power plants (VPPs) across the US.
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DIF Capital Partners has locked in a buyer for a 50% stake in its Lone Valley solar project in California, following a competitive auction process.
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Vesper Energy, the renewables developer that Magnetar Capital recently bought and rebranded, has brought in a new CFO.
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Michael Gee, a senior managing director who recently left CoBank's project finance team in Denver, has surfaced in a new role.
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RWE Renewables has found a buyer for a 51% stake in a portfolio of wind assets in Texas.
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Avangrid Renewables has filed a construction and operations plan with the Bureau of Ocean Energy Management (BOEM) for its Kitty Hawk Offshore Wind Project, which will be located off the coast of Virginia and the Carolinas.
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Tokyo Gas America has secured tax equity financing for its enormous debut solar project in the US, namely the 500 MW Aktina facility in Texas.
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NextEra Energy Resources has secured an offtaker for the output of a quartet of wind projects in Southern Minnesota, totaling 700 MW.
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A bank trio has closed a $323 million refinancing for the Coso Geothermal portfolio in Southern California, which has been owned by a group of former creditors since 2017.
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Greenbacker Renewable Energy Co has closed its acquisition of the 50 MW Rippey wind farm in Iowa from developer RPM Access.
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#PowerTweets is an occasional feature tracking trends in power finance and investment in the Americas on Twitter.
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National Grid Renewables has sold a portfolio of nine development-stage solar projects totaling some 1 GW in New York state to sPower.
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Online retailer Amazon has signed power purchase agreements with Engie for several wind and solar projects in the US as part of a larger deal that also encompasses European projects.
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As the primordial wind turbines of the 1990s reach the ends of their useful lives, GE Renewable Energy has found a new, more sustainable way to dispose of decommissioned blades that would otherwise end up in landfills.
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Restructuring advisory firm AlixPartners has boosted its power sector practice with the addition of Paul Barry and Faisel Hussein as managing directors from Alvarez & Marsal in New York.
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Southern California Edison has awarded power purchase agreements to a quartet of energy storage projects totaling 590 MW.
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Atlantic Power Corp has managed to extend the power purchase agreement for its Calstock biomass plant in Ontario and reached a final settlement on an insurance claim relating to its Cadillac biomass plant in Michigan.
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Sidewalk Infrastructure Partners has invested in virtual power plant company OhmConnect and committed funds to a 550 MW distributed generation project it is developing in California.
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Exelon Generation Co has struck an $810 million deal to sell its solar business to an affiliate of Brookfield Renewable Partners.
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Greenbacker Capital Management has invested in Dichotomy Power, an owner and operator of hydro projects in the Northeastern US.
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7X Energy has secured tax equity from Swiss chocolatier Nestlé and debt from a group of six banks for its 250 MW Taygete I solar project in Pecos County, Texas.
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Summit Ridge Energy has locked in a tax equity investor for a portfolio of community solar projects across Illinois and Maryland.
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Spanish companies ACS and Solarpack have emerged as the winning bidders for wind and solar contracts in Ecuador following a 16-month-long competitive process.
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A trio of investors led by EnCap Investments has acquired a stake in a newly formed solar developer based in Texas.
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Iberdrola's Brazilian power company Neoenergia has won a privatization auction for regional electricity distributor Companhia Energetica de Brasilia Distribuição.
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Engie North America has partnered with Hannon Armstrong to jointly invest in a 70 MW portfolio of distributed solar and solar-plus-storage assets in the US through what Engie describes as a "unique" upper-tier partnership.
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The $860 million term loan B refinancing for a portfolio of gas-fired assets in Queens, New York, was priced and allocated on December 4.
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Updated: Foundation Solar Partners, the solar development firm set up by three former Cypress Creek Renewables officials last year, has clinched a series of sales of pre-construction projects in recent months.
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British power producer ContourGlobal is seeking to establish a foothold in the US and the Caribbean with the acquisition of a 1.5 GW portfolio of gas-fired assets, including combined-heat-and-power plants.
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Residential solar finance company and securitization issuer Mosaic has refreshed its leadership team, with the appointment of a new CFO as well as a deputy chief credit officer and general counsel.
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McDonald’s Corp has signed two power purchase agreements with a pair of wind farms in Oklahoma and Illinois, totaling 326 MW.
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Peruvian power supplier Atria Energia has hired Natacha Patiño as a commercial manager in Peru.
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A bank trio is close to wrapping a debt package for a portfolio of geothermal assets in California that has been owned by a group of former creditors since 2017.
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Morgan Stanley's former global head of commodities trading is set to join Citadel.
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Invenergy is close to wrapping construction debt totaling $1.8 billion for three wind farms in Oklahoma.
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Total Eren has brought online a 50.4 MW wind farm in Argentina, making it the second renewable energy project to be commissioned in the country by the French independent power producer.
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IDB Invest has provided a $25 million loan to Peru’s Banco Interamericano de Finanzas (BanBid) to finance renewable energy assets in the country.
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The past week’s power purchase announcements reflect some of the latest trends in renewable energy procurement, from community choice aggregators signing solar-plus-storage deals to large utility customers opting into green tariffs.
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Enel Generacion Chile has signed a 17-year deal to provide a copper miner in Chile with renewable energy starting in January 2021.
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Recent announcements show that major institutions are taking more of an interest in the world of community solar.
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Finnish renewables developer Taaleri Energia is marketing a 25% stake in its 336 MW Escalade wind project in Texas.
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Public Service Enterprise Group (PSEG) has agreed to acquire a 25% stake in Ørsted North America's 1,100 MW Ocean Wind project, which will be built 15 miles off the coast of Atlantic City, New Jersey.
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The US offshore wind industry is on the cusp of lift-off. To discuss the path forward, PFR and McDermott Will & Emery brought together a group of professionals at the forefront.
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Offshore wind developer US Wind has hired former Deepwater Wind boss Jeff Grybowski as its new CEO.
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Brazilian mining company Vale has announced a 766 MW (DC) solar project called Sol do Cerrado in Jaíba in the state of Minas Gerais.
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Brazilian renewable power producer Casa dos Ventos has signed a deal to extend its flagship wind project, Rio dos Ventos.
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Texas utility CPS Energy has launched a request for proposals for 900 MW of solar (including community solar), 50 MW of energy storage and 500 MW of firming capacity.
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DTE Electric has acquired a 72 MW wind project in Michigan that is due to be online early next year under a build-transfer contract.
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Georgia Power's CFO has switched roles with the CFO of Southern Company Gas.
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Investec has launched a $147 million senior secured debt offering to finance the construction of a small-scale LNG facility in Florida.
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TransAlta Corp has acquired a 49% stake in the 136.8 MW Skookumchuck Wind Project in Washington state.
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Capital Dynamics has financed a 383 MW solar project in Nevada with a flexible debt structure that will allow the sponsor to bring in a tax equity commitment at a later date.
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DE Shaw Renewable Investments has secured a power purchase agreement with a utility company for an 80 MW solar project in Utah.
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Ørsted has made a final investment decision on a 430 MW solar project near Houston, Texas.
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A former Lehman Brothers and Barclays investment banker has joined Global Infrastructure Partners as a managing director in New York.
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Boralex has bought Caisse de dépôt et placement du Québec out of its stake in a 296 MW portfolio of three wind projects in Québec, becoming their sole owner.
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Exelon Corp has launched a $750 million term loan B offering to refinance a portfolio of renewable assets in the US.
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Cordelio Power and BrightNight have formed a new partnership to develop dispatchable renewable energy projects in the western US.
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ReneSola Power has inked a power purchase agreement for a solar-plus-storage located in Yolo County, California.
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Distributed Solar Development, which has been wholly owned by BlackRock Real Assets since November, has acquired a 17 MW community solar portfolio in New York.
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Geronimo Energy has received approval from the South Dakota Public Utilities Commission to construct one of the first large-scale solar projects in the state.
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Commercial and industrial-scale solar developer C2 Energy Capital has bought California's largest floating solar project.
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A Boralex subsidiary has signed binding agreements with London-based Centaurus Renewable Energy and other investors, to acquire stakes in seven operational solar projects in the US.
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NRG Energy has received the US Federal Energy Regulatory Commission's blessing for its acquisition of North American energy retailer Direct Energy.
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Entergy Louisiana has acquired a 361 MW gas-fired peaking power plant, located about 60 miles north of New Orleans.
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Cubico Sustainable Investments has bought two solar projects in Arkansas and Mississippi, marking its first acquisition in the MISO region.
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EDP Renewables has signed a power purchase agreement for a 74 MW solar project in North Carolina.
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Berkshire Hathaway Energy has signed a turbine supply agreement for a 117.6 MW wind farm it is developing jointly with Renewable Energy Systems in Alberta.
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Apollo Global Management's latest energy transition and sustainability-focused blank check company has raised $300 million with its initial public offering, $50 million more than expected.
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Since entering the US market in 2019 with the acquisition of a pipeline of projects in California and Texas, SB Energy – the renewables division of SoftBank – has put together a string of project finance deals including a loan to finance late-stage development.
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Dominion Energy has begun the process of signing six power purchase agreements that it awarded following a recent competitive solicitation.
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Canadian Solar has been awarded power purchase agreements with BTG Pactual and state-owned power company Furnas for 862 MW (DC) of solar capacity in Brazil.
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Boralex is buying Caisse de dépôt et placement du Québec out of its stake in a 296 MW portfolio of three wind projects in Québec to become their sole owner.
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Nautilus Solar Energy has signed a tax equity commitment with an investment bank for a portfolio of 14 community solar projects in four US states.
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Apollo Global Management has launched a second blank check company targeting the energy transition and sustainability less than a month after its first such vehicle acquired electric vehicle maker Fisker.
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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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Vesper Energy, the renewables development platform that was recently acquired and rebranded by Magnetar Capital, has signed a letter of credit facility to fund development activity.
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Leeward Renewable Energy has reached financial close on the tax equity financing of its Sweetwater 3 Wind Farm repowering project in Texas.
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Houston-based energy storage company Broad Reach Power has acquired its first asset in California, the Cascade Energy Storage Project, from Enel.
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EDP Renewables North America has lined up a tax equity investor for a pair of wind farms it is developing in Colorado and Indiana.
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Utility group NV Energy is exercising its option to buy a 20% stake in a transmission line in Nevada after the project was brought online earlier this year.
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GenOn Energy has closed a $250 million debt package to lever up two vintage gas-fired projects in California.
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The Abu Dhabi Future Energy Co, also known as Masdar, is working on a holding company financing to lever up its portfolio of renewable energy assets in the US.
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Holland & Knight has hired two senior attorneys from rival firms and appointed one of them as chair of its energy and infrastructure M&A and finance team.
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NRG Energy’s sale of a 35% stake in the 290 MW Agua Caliente solar project in Arizona to Clearway Energy has been revived after being cancelled during Pacific Gas & Electric’s restructuring.
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FirstEnergy Corp's lenders have signed waivers and amended the terms of its loans to cure compliance breaches stemming from the disclosure of a roughly $4 million payment that was uncovered as part of an internal bribery investigation.
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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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Norwegian energy company Equinor has appointed a bank to oversee the financing of the 816 MW Empire Wind project off the coast of New York, which it co-owns with BP.
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NRG Energy has brought the US capital markets a step forward with its inaugural sustainability-linked bond, introducing a new flavor of greens for its debt investors to chew on. But as usual, European corporations led the way.
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Vermont-based solar and energy storage developer Encore Renewable Energy has obtained a corporate loan to finance development activity.
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California's Pacific Gas & Electric Corp has selected Patti Poppe as its new CEO. She will be relocating to San Francisco at the end of the year from Jackson, Michigan, where she is currently chief executive of CMS Energy Corp.
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Residential solar company Sunrun has signed a 10-year resource adequacy contract with Southern California Edison for a portfolio of battery storage projects in California.
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Australia's Lendlease has sold its US renewable energy business to hedge fund manager Magnetar Capital, which has rebranded the new portfolio company Vesper Energy.
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Updated: Spruce Finance has acquired two portfolios of residential solar projects, including all of NRG Energy's remaining residential solar assets.
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Astoria Energy, which owns two gas-fired assets in Queens, New York, is preparing a refinancing of its term loan B debt.
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Jason Allen has been appointed CEO of OMERS Infrastructure-owned developer Leeward Renewable Energy.
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NRG Energy has priced a roughly $3.8 billion five-tranche bond offering – including the first ever sustainability-linked notes from a US issuer – to finance its acquisition of North American energy retailer Direct Energy.
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A $3.9 billion five-tranche bond offering by NRG Energy to finance its acquisition of North American energy retailer Direct Energy is set to be priced later today, November 17.
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AES Corp has decided to merge its wholly-owned US renewable energy development businesses with sPower, the developer it co-owns with Alberta Investment Management Corp.
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Renewables developer Savion has signed a deal to sell a 20 MW contracted solar project in Virginia to Novis Renewables Holdings, a joint venture between Italy’s Falck Renewables and Eni.
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Mayer Brown has expanded its projects and infrastructure practice with the addition of a team of attorneys from Hunton Andrews Kurth.
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NRG Energy has announced several bond offerings it intends to use to finance its acquisition of North American energy retailer Direct Energy from Centrica.
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Renewable energy developer Apex Clean Energy has hired a former investment banker in a finance role.
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Battery storage asset manager Voltera has launched a request for proposals for merchant projects in three US markets with the aim of executing sale and purchase agreements next year.
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Greenbacker Renewable Energy Co has acquired its largest solar project – an 80 MW shovel-ready, contracted asset in Fall River County, South Dakota.
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Steelmaker Nucor Corp has signed a virtual power purchase agreement with EDF Renewables North America for the output of a 250 MW solar project in Texas.
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The apparently unstoppable trend of ever-tightening project finance margins finally hit the buffers in March 2020. But now, even as the pandemic continues to rage, the race to the bottom is back with a vengeance.
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Three bidders competing for the acquisition of Brookfield Infrastructure's district energy business, Enwave Energy Corp, have been identified.
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Renewable energy developer sPower has mandated an arranger for the financing of its 100 MW/400 MWh Luna Storage standalone battery project in California.
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Kendall Sustainable Infrastructure (KSI) has secured a $27 million back-leverage loan to refinance a portfolio of operational solar projects spread across three US states.
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The city of Rochester, New York, is preparing to launch a community choice aggregator called Rochester Community Power.
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Boralex has bid three solar projects totaling 140 MW into requests for proposals being run by the New York Power Authority and the New York State Energy Research and Development Authority.
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Copenhagen Infrastructure Partners has bought a pair of pumped hydro energy storage projects that are under development in Oregon and Washington.
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Greenbacker Capital Management has made a corporate-level investment in a developer of distributed solar projects in the US.
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A pair of developers is exploring the sale of a 62 MW (DC) solar project in Georgia that has a 25-year power purchase agreement.
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Two top legal officers have departed from FirstEnergy Corp as a high-profile bribery investigation involving Ohio's House Speaker continues.
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Goldwind Americas has sold the 160 MW Rattlesnake wind farm in central Texas, which it bought three years ago when it was under development.
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Capital Dynamics-backed power marketing and development firm Arevon Energy Management has appointed a new CEO.
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First Sentier Investors has promoted several members of its direct infrastructure team, including its head of North American infrastructure.
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A newly established renewables developer is marketing a 60 MW portfolio of development-stage community solar projects in Upstate New York, close to the Canadian border.
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BlackRock Real Assets has bought the remaining 20% stake in Distributed Solar Development (DSD) that it did not already own from GE Renewable Energy.
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A banker with experience in power and commodities structured finance has taken a project finance role at the New York Power Authority.
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Solar and energy storage EPC contractor i1 Energy has appointed a former senior originator of distributed generation projects for NextEra Energy Resources as its president.
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Yield company Clearway Energy has signed an agreement to acquire a 160 MW wind repowering project in West Texas from its developer-sponsor Clearway Energy Group.
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Clearway Energy has paid $43.5 million to buy its sponsor-developer, Clearway Energy Group, out of a 286 MW portfolio of distributed solar assets.
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Clearway Energy Group has offered its yield company, Clearway Energy, the opportunity to invest in a 1.6 GW renewable energy portfolio alongside a third party.
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Details have emerged of a $209 million term loan package that was executed in September to refinance a portfolio of three operational solar projects.
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Chicago-based developer Invenergy is aiming to close construction loans totaling $1.8 billion for three wind farms in Oklahoma by the end of the year.
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Cypress Creek Renewables has closed an oversubscribed $200 million holdco loan to support its 1.6 GW operating utility-scale solar portfolio in the US.
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Portland General Electric is bringing in Jim Ajello as its new CFO as an internal investigation into recent trading losses rumbles on.
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Citi's North American head of power trading, Naveen Arora, has left the firm after more than 10 years.
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Clean Power Alliance has handed a second power purchase agreement to sPower, this time for a combined solar and storage project in California's Antelope Valley.
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A managing director in Macquarie Capital's debt capital markets team in New York and another in the Houston commodities team have left the firm.
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CenterPoint Energy is planning to sell one or two of its natural gas utilities to help raise $3 billion of growth capital.
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Canadian yield company TransAlta Renewables has brought online Alberta's first utility-scale battery storage project, having acquired it from its developer-sponsor over the summer.
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Energy Impact Partners has hired a former Goldman Sachs banker as a principal in its New York office.
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A developer is seeking investors for a 132 MW (DC) portfolio of early-stage solar-plus-storage projects in Pennsylvania.
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Innergex Renewable Energy and the Pituvik Landholding Corp have closed a $92.8 million non-recourse financing for a hydro project in northern Québec.
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Private equity firm SER Capital Partners has bought three battery storage projects from Texas-based developer HGP.
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Fortress Transportation and Infrastructure Investors is weighing the sale of its remaining 50.1% stake in the Long Ridge Energy Terminal combined-cycle project in Ohio, which is eventually expected to run on green hydrogen.
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NextEra Energy Partners (NEP) has signed its fourth convertible equity financing – a $1.1 billion deal – with a consortium of investors led by KKR & Co, which it says is the lowest-cost and longest-dated iteration of the unique financing structure yet.
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Brookfield Renewable Partners is looking to offload a roughly 500 MW portfolio of wind projects, including three in California that are in the process of being repowered.
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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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American Electric Power has appointed a new CFO to replace Brian Tierney, who is moving into another senior role, as well as a new chief operating officer.
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Exelon Corp has appointed two investment banks as it considers whether to separate its generation business from its utilities.
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Savion has secured a power purchase agreement for the output of a 200 MW solar project it is developing in central Ohio.
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East West Bank has hired a seasoned power and utilities investment banker in Dallas to act as a relationship manager for its project finance business.
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NorthWestern Energy has scrapped its $1 purchase of Puget Sound Energy's 92.5 MW stake in unit 4 of the coal-fired Colstrip plant in Montana, as well as an interest in the Colstrip transmission system.
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John Bridge has been promoted to partner in McDermott Will & Emery's energy practice.
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PNM, the New Mexico utility subsidiary of PNM Resources, has reached an agreement to sell its stake in the Four Corners coal-fired plant in 2024, seven years earlier than previously expected.
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EDF Renewables North America has roped in an electric cooperative as the offtaker for a portion of the output of a wind project in the Texas Hill Country.
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Brookfield Renewable Partners has closed the $400 million second part of a deal to buy TransAlta Corp securities totaling $750 million that are convertible into hydro project equity.
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Berkshire Hathaway Energy has closed the first part of its acquisition of Dominion Energy’s natural gas transmission and storage assets – which include more than 7,700 miles of pipelines and about 900 billion cubic feet of storage.
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Cypress Creek Renewables has closed an oversubscribed $200 million holdco loan to support its 1.6 GW operating utility-scale solar portfolio in the US.
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At least three developers or joint ventures submitted bids into New York’s latest offshore wind request for proposals by the October 20 deadline. Check out this and all of the past week's PPA news.
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Recent transactions in the US power and renewable energy sector lend credence to a recent report from Kroll Bond Rating Agency, which says that project finance borrowers and investors are exhibiting an increasing fondness for holding company debt.
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Utility holding company FirstEnergy Corp has fired its CEO and two other senior officials amid a high-profile bribery investigation in Ohio, shortly after guilty pleas were entered in federal court by two people who are not FirstEnergy employees.
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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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Basalt Infrastructure Partners III has closed its first investment, acquiring a stake in a residential solar portfolio in the US.
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DB Energy Assets, a joint venture between developer DCO Energy and fund manager Basalt Infrastructure Partners, has signed a $50 million revolving credit facility to support the acquisition of a cogeneration plant in Delaware.
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Cypress Creek Renewables has bought out the tax equity investors in a 92 MW portfolio of solar projects in North Carolina and refinanced them with a loan arranged by BNP Paribas.
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With an unpredictable election looming, developers, financiers and would-be buyers of US renewable energy projects are carefully weighing the potential impact of a Joe Biden presidency as they try to reach decisions on M&A and financing transactions.
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NV Energy has issued a request for proposals to add new renewable energy projects to its portfolio.
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Ørsted has acquired a 298 MW wind project in Nebraska that it intends to bring online in the fourth quarter of 2021.
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Brazil is preparing to hold power generation and transmission line auctions between now and the end of 2022 that will require investments totaling R$88 billion ($16.6 billion), according to power regulator Aneel’s director-general Andre Pepitone.
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Skyline Renewables has acquired its first US solar asset – a 250 MW project in Texas that has been financed with construction debt from a group of five lenders.
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