Europe
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HSBC and BMO Financial Group have invested about $150 million in Breakthrough Energy Catalyst, a private-public fund backed by Microsoft co-founder Bill Gates.
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Canadian real estate company Colliers has acquired a 75% stake in infrastructure investment manager Basalt Infrastructure Partners.
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Spanish solar developer X-Elio has hired an executive from Brookfield Renewable Europe to work as its chief business development officer.
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Ørsted’s head of mergers and acquisitions in the US has left for a new role at Copenhagen Infrastructure Partners.
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Trafigura Group announced on April 9 that it will launch its first carbon trading desk, led by Hannah Hauman, further expanding the scope of its trading activities.
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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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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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Nordex has selected a new CFO to replace the incumbent Christoph Burkhard, who had held the position since October of 2016.
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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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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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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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DIF Infrastructure VI has reached a €3.03 billion ($3.5bn) final close after increasing its hard cap.
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When Engie and EDP Renováveis christened their offshore wind joint venture Ocean Winds, you could be forgiven for assuming that it had taken about 10 seconds to come up with the name. But in the branding world, nothing is that simple.
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BP has entered into an agreement to supply Microsoft Corp with renewable power around the world.
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Australian fund manager AMP Capital has promoted its global head of infrastructure equity – Boe Pahari – to the position of CEO.
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Copenhagen Infrastructure Partners has reached first close on its fourth vintage fund with commitments totaling €1.5 billion ($1.69 billion).
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Henrik Poulsen is set to step down as CEO of Ørsted after eight transformative years with the company.
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LNG infrastructure developer Golar LNG has appointed an interim CEO as it launches a strategic review.
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A financial adviser has been mandated for the potential sale of gas turbine servicing businesses in North America and Europe.
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Jack Paris and Philip ten Bosch have been promoted to co-heads of global power investment banking at Citi.
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Infrastructure private equity firm I Squared Capital has named three new partners, in addition to three existing managing partners.
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Engie and EDP have signed a memorandum of understanding to create a co-controlled 50:50 offshore wind joint venture.
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Amazon Web Services has inked power purchase agreements for projects in the U.S, Ireland and Sweden totaling more than 229 MW.
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Two bankers have left ABN Amro’s New York power and renewables project finance team to take up jobs elsewhere.
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Atlantica Yield today withdrew a $300 million high yield bond offering it had been marketing for the past week in a sign that stock market volatility has infected the debt capital markets.
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German developer BayWa r.e. has revealed it expects to sell 450 MW of renewable generation assets in the U.S. and Europe by the end of 2018.
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The #PowerTweets feature tracks trends and news in power and energy on Twitter.
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British bureaucrats have drawn up radical contingency plans to keep the lights on in Northern Ireland—which relies on a shared energy market with the Irish republic—in the case of a “no-deal Brexit”, the Financial Times reported last week.
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A 2.6 GW hydro project built in the Soviet Union in the 1950s is partly to blame for the decline of sturgeon that has devastated the Russian caviar industry, according to a British wildlife conservation researcher.
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Independent power producer InterGen is shifting its commercial and trading operations out of the U.S. after selling its Mexican generation assets.
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A banker who joined ING’s utilities, power and renewables team in New York as a director last summer has already left for a different role at an advisory firm in Spain.
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The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter.
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Whether or not one believes bitcoin is the decentralized future of money or a pyramid scheme masquerading as currency, the reality is that mining bitcoins consumes enormous amounts of energy.
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Marc Groves-Raines is taking over as head of Allianz Capital Partners’ London-based renewables group, which inked a string of U.S. tax equity deals in 2016.
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The first person to walk to both the North and South poles is returning to the Antarctic, this time with his progeny—and some solar panels—in tow.
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Policymakers in Europe are considering tinkering with regulatory capital rules to allow banks to hold less capital against “green” assets, such as renewable project finance loans.
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Three former executives at Venture Global LNG have founded a U.S.-based international investment firm with a focus on infrastructure.
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A private equity firm is selling a waste-to-energy business, PFR has learned.
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The #PowerTweets feature tracks trends in power project finance and M&A in the Americas on Twitter.
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France’s Akuo Energy has tapped a trendy source of capital, raising €200,000 for an operational 28 MW wind project through its own crowdfunding platform.
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A Dutch pension fund manager has agreed to acquire a portfolio of distributed solar assets from SolarCity.
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A former head of energy at BNP Paribas in New York has landed at BMO.
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Sungevity filed for Chapter 11 bankruptcy protection in Delaware on Monday. The Oakland, Calif.,-based distributed solar sponsor has agreed to sell its assets to a group of investors.
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BlackRock has agreed to acquire First Reserve Energy Infrastructure Funds, the infrastructure equity arm of the firm.
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SunEdison has found a buyer for its stake in a portfolio of U.S. wind assets. The sponsor has held the assets through a warehouse financing vehicle since acquiring them from Atlantic Power in 2015.
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French sponsor Akuo Energy has sealed financing for its 150 MW Rocksprings wind project in Texas, including bridge loans, third-party equity and tax equity.
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Just over a year after the company was unveiled, General Electric-owned Current is undergoing a restructuring, PFR has learned.
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TerraForm Power has secured $90 million (C$120 million) in project financing for its utility-scale solar facilities in Canada in part to help to pay down holding company debt.
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Enel plans to offload generation assets over the next two years, according to a strategic plan for the years 2017 to 2019 laid out by the Italian utility company on Nov. 22.
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A biomass project in Copenhagen that aims to entice tourists to stroll amid a forest of hanging tree trunks won an international architecture award this month.
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A hedge fund-backed solar-focused independent power producer has hired four financial advisers to sell its 1.3 GW portfolio of operating, under-construction and shovel-ready projects, development and asset management platform and accompanying 5.4 GW pipeline.
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The #PowerTweets feature tracks trends in power project finance and M&A in the Americas on Twitter. For more news and coverage, follow @PowerFinRisk on Twitter, as well as editor @MetcalfReports, managing editor @OliviaFeld and reporter @FotiosEuromoney.
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Institutional investors advised by JP Morgan Asset Management have acquired "substantially all" of the solar independent power producer Sonnedix.
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TerraForm Power and TerraForm Global are working with managing shareholder SunEdison on its potential exit from the yield companies.
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Improvements in wind turbine technology in recent years have made it possible to construct ever taller towers and wider blade diameters, but the future of power may be smaller—much smaller—according to recent research.
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Northland Power has launched a strategic review which could lead to the sale of the company. The Toronto-based independent power producer has hired CIBC and JP Morgan as financial advisers.
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As global financial markets reeled in the wake of the U.K.’s historic vote to leave the European Union, it was business as usual for much of the American project finance community.
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Rothschild has sent out teasers and set a deadline for bids for SunEdison’s global project portfolio.
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SunEdison has launched an audit based on allegations made by former executives of the company, according to the filing with the U.S. Securities and Exchange Commission.
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Abengoa Yield has revealed its new name, Atlantica Yield, and hired a new cfo as it distances itself from its sponsor and part owner, Abengoa.
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What once could be thought of as mythological parable, a mighty sun god harnessing the energy of the sky and distributing it to humanity, could become a technological reality.
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Spanish company Abengoa has sought bankruptcy protection and is in talks with its creditors about restructuring its debts. Abengoa Yield, the sponsor’s yield company, which has assets in North and South America, is not immune to the problems faced by its parent company.
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Carlos Domenech has left his position as ceo of TerraForm Power and TerraForm Global at the request of the yield companies' boards. His last day was Nov. 20, a company spokesperson tells PFR.
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SunEdision may rewrite or scrap a number of announced acquisitions, as the company continues to grapple with its hammering in the stock market.
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Until now, Sweden’s ICEHOTEL has remained closed in the summer months. That was understandable, because it melts every spring. But the team behind the project now has plans for a solar powered wing to be open all year round.
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New York-based private equity firm Cerberus Capital Management has acquired Renovalia, a Spanish renewables shop with projects in the U.S., Canada, Mexico and Chile, for €1 billion.
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TerraForm Global has appointed a new executive v.p. and cfo. Alejandro Hernandez, who is executive v.p. and cfo of TerraForm Power, takes on the task of heading both of SunEdison’s yield companies.
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Conergy’s regional head of the Americas, Yann Brandt, speaks to PFR editor Richard Metcalf about the aspirant solar independent power producer's plans to grow its portfolio in the U.S., Brazil and Mexico, how it will finance that growth, and long term financing options such as securitization and yield companies.
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After months of stock volatility, SunEdison has announced that it is putting asset drop-downs to TerraForm Power and TerraForm Global on hold, just as shares in the yield companies begin to recover some of the ground lost.
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SunEdison has unveiled a new strategy in an attempt to halt and reverse its share price decline. The major renewables sponsor plans to sell its assets to its warehouses and third parties instead of continuing its strategy of dropping them into its yield companies.
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As technology allows engineers to build wind turbines ever taller and with ever wider diameters, a team of inventors in Iceland is heading in the opposite direction.
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Solar developer Conergy has increased the size of its bank guarantee facility to $75 million with a $15 million commitment from Goldman Sachs BDC.
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The cfo of Abengoa Yield resigned on Monday, four months after the yield company’s ceo departed to run its parent company, Abengoa S.A.
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In this exclusive, Navindu Katugampola, head of green and sustainability bond origination at Morgan Stanley, based in London discusses the rationale behind the bank's recent $500 million green bond sale and the flow of private capital towards green bond issuers in the U.S.
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KKR has taken an 80% stake in the solar development subsidiary of Spain's Gestamp, as private equity firms increasingly look to emerging markets for returns.
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The LEGO Group has entered the renewables market by building a 310 MW wind farm off the northwest coast of Germany. Unfortunately, it is not made of the colorful plastic bricks.
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Northland Power has hired a new business development director, as its former director of communications and business development moves to London and its president and chief development officer, Sean Durfy, prepares to step down at the end of August.
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Yield companies are set to circumvent the challenge of new competition if the Master Limited Partnerships Parity Act, recently reintroduced by Delaware and Kansas senators Chris Coons and Jerry Moran, passes muster.
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A snapshot of lighter moments at the 2015 REFF Wall Street conference in New York replete with snippets of conversation and banter across panels, luncheons and cocktails.
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Even as strategic investors are increasingly becoming involved in financing renewables projects, developers are tackling a fresh set of risks and challenges in developing their generation portfolios.
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The U.S. offshoot of Spain's Iberdrola is planning to launch a partial IPO once it completes its merger with Orange, Conn.-based United Illuminating Holding Co.
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While the renewabels market is seeing high levels of liquidity, yieldcos are capitalizing on declining costs of capital for shovel-ready and operating projects, according to panelists at the 12th Renewable Energy Finance Forum Wall Street conference in New York today.
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Allianz is planning to make its maiden tax equity investment in the U.S. wind market, and is talking to sponsors about prospective deals.
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SunEdison is acquiring Globeleq Mesoamerica Energy from Mesoamerica Power and Actis Capital in a deal that marks the prelude to its expansion into Central America.
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Québec's Boralex has bought a C$5 million option to acquire a 25% stake in the 230 MW Niagara Region wind farm in Ontario from German turbine manufacturer Enercon.
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Bank of America Merrill Lynch has appointed Brad Hutchinson from Barclays as co-head of the Americas energy investment banking group in Houston.
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Stockholm-based Skanska's U.S. affiliate has started operations in Pittsburgh with local maven Geoffrey Murken leading its energy and infra operations, as the company ponders over a bid for NTE Energy's 525 MW Middletown facility in Ohio.
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In the second installment of this PFR exclusive, Michael Allison, senior managing director at Macquarie's renewables group discusses his views on the potential for yieldcos coming to market, challenges involved in securing tax equity investments and more.
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Two on-site wind turbines have been installed at the Eiffel Tower, as part of the first major renovations at the Parisian landmark in 30 years.
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London-based private equity shop Terra Firma Capital Partners is placing its U.S. affiliate EverPower Wind for sale, and has hired Bank of America Merrill Lynch as an advisor.
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