Equity
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Utility-scale solar and energy storage development company Redeux Energy Partners is seeking investors to buy a minority stake as a corporate-level equity capital raise, PFR has learned.
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Goldman Sachs Renewable Power (GSRP) has wrapped a $655.9 million debt package for its recently acquired Slate solar-plus-storage project in California.
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Capital Dynamics has found a buyer for a stake in a 100 MW/400 MWh standalone battery storage project in California.
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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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One of the first pieces of advice a retail stock investor receives after opening their first brokerage account or downloading the Robinhood app is not to try to “time the market.” But in corporate finance – especially during weak markets – timing is everything. If a window of opportunity opens after a period of volatility, you go for it.
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Spanish renewable energy developer Cox Energy has begun the regulatory process to list its Cox Energy Americas subsidiary on Mexico's Bolsa Institucional de Valores stock market.
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TC Energy has made an equity investment in Turning Point Generation, a company that is developing up to 400 MW of pumped hydro capacity in Alberta.
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While yield-hungry investors of all stripes are viewing distributed, small-scale solar companies ever more favorably, the founders and management of the target companies are finding that there are attractive alternatives to selling stakes in their businesses outright.
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Montana utility NorthWestern Energy is seeking approval to acquire for $1 a 25% stake in unit 4 of the 2,094 MW Colstrip coal-fired plant.
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Clearway Energy has launched a public offering of common stock to raise the funds it needs to acquire the Carlsbad Energy Center from its sponsor, Global Infrastructure Partners.
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The private equity sponsor of a Texas wind project with non-utility power purchase agreements has secured construction financing from a European bank.
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Renewables yield company Pattern Energy Group has confirmed that it has drawn interest from third parties following a report that it was considering takeover offers.
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Brazilian state-controlled Petrobras is studying the creation of a subsidiary for some of its power plants with a view to divesting them through an initial public offering.
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Ares Management has sealed an equity commitment from a European infrastructure fund manager for its Hill Top Energy Center gas-fired project in Pennsylvania.
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Indeck Energy reached financial close today on its $1 billion Niles Energy Center in Cass County, Mich., including floating and fixed-rate project finance debt.
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AltaGas sold its 50% stake in a 29.04 MW wind project in Huerfano County, Colo., for $16 million after sale to an independent power producer linked to the project’s utility offtaker won regulatory approval.
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Siemens Corp. has hired an attorney who was previously a partner at a New York law firm as a senior in-house counsel specializing in project finance equity investments.
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AES Tietê has made a bid to acquire the 400 MW Alto Sertão III wind complex from Brazilian developer Renova Energia along with a 1.1 GW pipeline of other wind projects in development.
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In October, PFR teamed up with Fitch Ratings and Orrick to host a candid discussion on the challenges and opportunities for financing America’s nascent offshore wind industry. Experts covered everything from debt pricing to offtake structures and the full report is in this week’s issue.
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An unidentified party, rumored to be Canada's Algonquin Power & Utilities, has abandoned its effort to outbid Oncor Electric Delivery Company to acquire Texas utility InfraREIT.
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NextEra Energy has signed a deal to to acquire the Trans Bay Cable underwater transmission system in California from SteelRiver Infrastructure Fund North America and its partners.
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Pattern Energy Group, the yield company of Pattern Development, and Capital Power have agreed to sell their one-third stakes in the 270 MW K2 wind project in Ontario.
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In September, PFR and Mayer Brown teamed up to bring together a panel of tax equity experts to review the latest developments and innovations in this fascinating area of renewable energy finance, as well as the outlook for the coming years. Check out the full transcript.
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Regulatory filings reveal that Invenergy purchased a short position on the equity it sold to Caisse de dépôt et placement du Québec (CDPQ) in April, with a remaining shelf life of just over two months.
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AltaGas has raised about $874 million by floating a portfolio of Canadian utility and power assets and loading the newly listed spin-off with debt.
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Enel Green Power has reached financial close on its 1.8 GW renewables portfolio in Mexico, selling equity to institutional investors and raising around $605 million of project debt, some two years after obtaining power purchase agreements and with some of the projects already online.
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With sale processes for several gas-fired assets underway in Texas, deal watchers say more could end up going under the hammer following a summer of high power prices in the state.
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An independent power producer tapped an investment bank earlier this year to auction off a merchant dual-fuel facility in Massachusetts.
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As the sale process for a pair of gas-fired assets in Queens, N.Y., heads toward a second round of bidding, deal watchers see varying levels of interest in the two assets.
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Apollo Global Management has emerged as the buyer of a mostly U.S. portfolio of GE Energy Financial Services' equity holdings, following a competitive auction.
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Yield company Clearway Energy priced a capital raise at $19.15 per share last week, raising about $75 million toward its acquisition of the Carlsbad gas-fired project in California from NRG Energy.
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Clearway Energy, the yield company formerly known as NRG Yield, has hired UBS for the latest chunk of financing for its acquisition of the Carlsbad gas-fired project in California.
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Sempra Energy has lined up a strategic investor to buy a 980 MW collection of renewables assets including operational solar projects, development stage solar and battery storage projects and a single wind farm.
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A tax equity partnership is due to make its case to the U.S. Tax Court early next year in a dispute over a tax equity deal that the Internal Revenue Service has described as a “legal sham.”
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France’s Voltalia has forged a partnership with a private equity-backed power producer, selling the firm an initial 197 MW development-stage wind portfolio with a view to transferring up to 500 MW in total.
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AltaGas is preparing to launch an initial public offering through which it will spin off some of its Canadian assets and utilities as part of the fundraising push for its acquisition of WGL Holdings.
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GridLiance, the independent transmission owner and operator backed by Blackstone, has signed a deal to acquire six transmission lines from a subsidiary of Vistra Energy.
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GCL New Energy has made use of kWh Analytics’ solar revenue put as part of its tax equity financing of a contracted four-project solar portfolio in Oregon.
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British emerging markets investor Ashmore has signed an investment agreement with a consortium led by Peruvian conglomerate Graña y Montero to fund a transmission project in the Caribbean region of Colombia.
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Australian developer Windlab has agreed to sell a wind project in Ohio to Swift Current Energy after talks with previous would-be buyer fell through.
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Chile’s Antofagasta has sold its 30% stake of the 115 MW El Arrayán wind farm to the same private equity firm that bought the rest of the project from Pattern Energy Group earlier this week.
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Pattern Energy Group has completed its departure from the Chilean market by selling its 70% stake in the 115 MW El Arrayán wind project for $70.5 million.
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A private equity firm is in talks with Noble Environmental Power about buying some or all of a six-project wind portfolio in upstate New York, PFR has learned.
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Three senior power, utility and infrastructure bankers who recently left RBC Capital Markets have established a new U.S. investment banking group at rival BMO Capital Markets in New York.
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A recent court decision relating to a wind project financing in 2010 has injected a dose of uncertainty into valuations used in renewable project deals, especially those involving investment tax credits.
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The owners of the 321 MW Pirapora solar complex in Brazil, EDF Energies Nouvelles and Canadian Solar, are selling a 50% stake in the assets to a local wind and hydro power producer.
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Vivint Solar was able to maximize the proceeds of its latest $327 million residential solar project financing by structurally subordinating Bank of America Merrill Lynch’s tax equity commitment to a tranche of senior secured, privately placed debt. [Updated with quotes, loan pricing and tenor]
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Recurrent Energy has cancelled the sale of a portfolio of operational solar projects in California to a Chinese investor after the deal failed to obtain required regulatory approval in time.
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A judge has found the consortium that owns the Lordstown gas-fired project in Ohio, the largest member of which is a Macquarie Group infrastructure fund, to be in contempt of court amid a months-long legal fight over the development of a second combined-cycle plant in the same industrial park.
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Macquarie Infrastructure Corp. has found a buyer for its 644 MW Bayonne Energy Center gas-fired plant in New Jersey.
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Canadian developer BluEarth Renewables has lined up its second U.S. wind investment—the acquisition of a development-stage portfolio totaling some 795 MW in Medicine Bow, Wyo.
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A subsidiary of NextEra Energy is set to acquire 20 miles of 138 kV transmission lines from a municipal utility in Illinois following a yearlong, competitive sales process.
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LS Power has taken first-round bids for the sale of a 2.3 GW portfolio of gas-fired power plants located in the PJM Interconnection.
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Dhamma Energy has closed the sale of a 108 MW (DC) solar project in the Mexican state of Guanajuato that is contracted under private power purchase agreements signed before the country's energy reforms.
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Capital Dynamics partnered with a South Korean asset manager on its recent acquisition of minority stakes in Tenaska’s Imperial South and West solar projects in California's Imperial Valley.
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Robert Mancini, who guided Goldman Sachs' entry into the power asset business before spearheading The Carlyle Group’s expansion into the power sector, has retired from his role as managing director and co-head of Carlyle Power Partners.
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Coronal Energy has begun building a 15 MW solar project in Tennessee with a power purchase agreement that was priced and signed in 2015, before competition pushed prices to today’s low levels.
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Following its acquisition by a "blank check" company, Ontario-based Spark Power Corp. has bought a major Canadian green energy marketer.
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Goldman Sachs Asset Management has emerged as the winning bidder in an auction for a portfolio of distributed solar projects in New England and the Mid-Atlantic.
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Atlantic Power Corp. has agreed to acquire a 50% stake in a run-of-the-river hydro project in Washington state for $11.8 million, becoming the project’s sole owner and operator, in what will be its first external growth investment in three years.
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