Hydro
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London Economics International is overseeing the sales process of 7 hydro plants sited throughout New York and New Hampshire for a northeast US-based renewables developer.
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Atiaia Renováveis is planning to issue R$215 million ($39m) in debentures for a hydroelectric project the company is developing in Brazil.
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Centrais Elétricas de Santa Catarina (Celesc) has landed financing from Brazilian development bank BNDES.
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Sindicato Energético (Sinersa) has completed the acquisition of a hydroelectric asset from Glencore-owned mining company Volcan in Peru.
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Canadian power provider Hydro One has hired Harry Taylor as executive vice president and chief financial and regulatory officer, effective 10 June (2024).
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Brazilian utility Copel is planning to divest from a portfolio of small generation assets the company owns through its subsidiary Copel Geração e Transmissão.
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Hydropower redeveloper Relevate Power has added 2 executives to its leadership team with Ian Finlay joining as CFO and Antonio Zarrella as VP of engineering and operations.
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Ocean Power Technologies’ corporate controller, treasurer, and principal accounting officer, Joseph DiPietro, has left the company, PFR has learned.
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Brazilian conglomerate Brasal is issuing R$170 million ($33 million) in debentures for a hydroelectric project in Brazil.
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The Government of São Paulo has sold its shares in Empresa Metropolitana de Águas e Energia (Emae) placing the power company in private ownership.
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Peru’s Ministry of Energy and Mines (MINEM) is readying 26 renewable energy projects to be built in the coming years.
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Brazilian utility Cemig is selling its 45% share in power generation company Aliança Energia to mining company Vale, making Vale the sole owner of Aliança.
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The Department of Energy (DOE) has awarded $475 million in funding for 5 projects that feature renewable development on former mining lands. The projects are located across Arizona, Kentucky, Nevada, Pennsylvania, and West Virginia.
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Enel Americas and Enel Perú have landed approval for the $1.4 billion sale of their Peruvian generation assets to Actis-owned Niagara Energy.
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Mining company SolGold has signed a memorandum of understanding (MoU) with renewables developers to construct a 200MW hydro-solar project to power its Cascabel Project in Northern Ecuador.
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The Department of Energy (DOE) has conditionally awarded $366 million to 17 projects that aim to improve the transmission and electrical distribution of power in rural and remote areas across the US.
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Spanish independent power producer Ecoener has signed power purchase agreements with the government of Ecuador, marking the firm’s entry into the Ecuadorian market.
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Cadiz has received the final regulatory nod from the US Bureau of Land Management (BLM) to complete its acquisition of the 220-mile pipeline from El Paso Natural Gas (EPNG).
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Ardian has acquired full ownership of the Peruvian subsidiary of Latin America Power from funds managed by BTG Pactual, Patria Investments and GMR Holding.
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Southern Company subsidiary Georgia Power Company (GPC) will sell multiple specified transmission lines to Georgia Transmission Corporation (GTC), PFR has learned.
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US-based utility and renewable energy developer Allete is contemplating the sale of its business, and has enlisted JP Morgan Chase for the potential sale process.
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Energy and storage provider FirstLight has signed a 5-year power purchase agreement (PPA) with the Massachusetts Municipal Wholesale Electric Company (MMWEC) to provide 14 state municipal utilities with 69GWh of hydropower.
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Canadian independent power producer Innergex Renewable Energy has closed a $185 million financing deal for three unlevered hydro assets in Quebec and British Columbia, totaling 107MW.
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Electricity utility Eletrobras and Brazilian development bank BNDES have agreed on a restructuring of the debts of hydro firm Santo Antônio Energia (SAESA) – an indirect subsidiary of Eletrobras.
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Canadian power company TransAlta will acquire Heartland Generation and Alberta Power (collectively, Heartland) from an affiliate of Heartland’s parent company, Energy Capital Partners.
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Companhia Energética de Minas Gerais (Cemig) has concluded the sale of its shares in a hydroelectric power plant in Brazil.
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Brazilian utility Companhia Energética de Minas Gerais (Cemig) is parting with a portfolio of small hydro assets, offloading them to Mang Participações e Agropecuária.
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Clean power producer, developer, and energy storage company FirstLight Power has finalized its agreement to acquire Hydroméga Services, including ownership interest in five hydropower generating stations in Québec and five in northeastern Ontario.
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Brazilian utility Companhia Energética de Minas Gerais (Cemig) has found a winning bid for hydroelectric assets the company is auctioning.
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Mexico’s Comisión Federal de Electricidad (CFE) landed a $333.6 million financing for seven hydroelectric plants.
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The government of Ecuador will attempt to procure the Cardenillo and Santiago hydro projects by early next year.
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UK-based Atome Energy has secured power purchase agreements to supply its utility-scale green hydrogen and ammonia project in Paraguay.
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Cemig has signed a power purchase agreement to supply renewable energy to a mining company in Brazil.
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Renewables developer Emrgy has raised $18.4 million in Series A funding to launch a hydro turbine factory in Colorado and support the development of its hydropower projects.
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Clean power producer FirstLight Power has completed the planned integration of H2O Power, the third-largest provider of hydroelectric power in Ontario.
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Brazilian utility Cia Energetica de Minas Gerais (Cemig) will hold an auction on 10 August 2023 to sell off 41.2MW of operational small hydro power projects.
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Paraguay’s state-owned power utility ANDE has signed an agreement with Swedish-based engineering company AFRY and Argentinian firm Latinoconsult to rehabilitate and modernize the 200MW Acaray hydropower plant.
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Brazil’s Eletrobras has acquired an additional 22.9% interest in the holding company of the Santo Antonio hydro plant, bringing the company's total ownership to over 95%.
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Infrastructure investor ArcLight Capital Partners has completed the sale of Great River Hydro to Hydro-Québec for approximately $2 billion.
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Norwegian energy company Statkraft will abandon the building of a dam-toe hydroelectric plant in Chile out of respect for local indigenous communities, which consider the project site sacred ground.
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Miami-based private equity and infrastructure investment firm MGM Innova Capital has secured financing for 3 small hydroelectric assets the company is developing in Peru.
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EDP Brazil has completed the sale of its Mascarenhas hydro power plant to a UK-based investment firm.
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Hull Street Energy has agreed to sell an almost 330MW portfolio of hydroelectric projects spread across the US to LS Power.
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Companhia Siderúrgica Nacional (CSN) has completed the privatization process of Companhia Estadual de Geração de Energia Elétrica (CEEE-G).
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Brookfield Renewable has agreed to partner with InterEnergy Group to develop renewable energy across Latin America.
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ArcLight Capital Partners has agreed to sell its hydroelectric generation platform, Great River Hydro, which owns a portfolio of assets across New England.
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Steelmaker Companhia Siderúrgica Nacional (CSN) has closed its acquisition of the Quebra-Queixo hydro plant in Brazil.
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Brazil’s National Electric Energy Agency (ANEEL) has approved the results of the A-4 New Energy auction held in May.
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Canada’s Polaris Renewable Energy, previously known as Polaris Infrastructure, has closed its acquisition of an operational hydro project in Ecuador.
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UK-based VH Global Sustainable Energy Opportunities (GSEO) has acquired a 198 MW hydro facility in Brazil.
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The Ministry of Energy and Mines of Ecuador has identified 10 hydroelectric projects to add to the country’s energy matrix.
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Celepsa, the power producer subsidiary of Grupo Unacem, has secured a green loan to refinance a hydroelectric power plant the company is operating in Peru.
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EDP has agreed to sell its stake in Hydro Global, a joint venture between EDP and the China Three Gorges (CTG) group.
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The government of Rio Grande do Sul has found a buyer in the privatization process of the state’s electricity generation company, Companhia Estadual de Geração de Energia Elétrica (CEEE-G).
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The state government of Rio Grande do Sul has launched a fresh attempt to privatize the state’s electricity generation company after failing to attract bids earlier in the year.
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Latin American asset manager Patria Investments has completed its acquisition of nine run-of-river hydro assets from ContourGlobal.
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EIG Partners is launching a renewable energy platform in Chile through the merger of EIG-owned Cerro Dominador and recently acquired ANPAC Energia.
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Enel Green Power Guatemala has signed a hydro power purchase agreement with construction materials company Cemex.
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GE Renewable Energy has been appointed to manage the upgrade of the Itaipu hydroelectric plant – the world’s second-largest hydro facility.
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Nevada utility NV Energy has issued a new request for proposals for the procurement of solar, hydroelectric, geothermal, wind, biomass and biogas facilities.
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Colombian utilities conglomerate Empresas Públicas de Medellín (EPM) has secured a 50-year extension to its operating concession for three hydroelectric plants in northern Antioquia.
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Inversiones San Carlos SpA, a subsidiary of Canadian renewables developer Innergex, has submitted a 154 MW run-of-river hydro project for environmental review.
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Brazilian power regulator Aneel has approved the draft concession contract for the 1,676 MW Foz do Areia hydro project, which is due to be privatized.
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Enel Green Power Guatemala has signed a hydro power purchase agreement with a trio of local bottlers of Coca-Cola brand products.
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The Brazilian state of Rio Grande do Sul has postpone an auction for its electricity generation company, CEEE-G, which was slated to be held on February 15.
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Brazilian power regulator Aneel has opened a public consultation for its A-4 power auction, which is scheduled to take place on May 27.
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BBGI Global Infrastructure has invested C$41 million ($32.1 million) in the vehicle responsible for delivering the John Hart Generating Station Replacement P3 hydro project in Vancouver.
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Evolugen (formerly Brookfield Renewable Canada) has signed a power purchase agreement with a Canadian utility for the output of four hydro projects in Québec.
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The Ecuadorean national electricity corporation (CELEC) is seeking an adviser to support the procurement process for a new, large hydro project.
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ContourGlobal has found a buyer for its Brazilian hydro business, which includes nine run-of-river hydro power plants totaling 168 MW of capacity.
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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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Ecuador’s Ministry of Energy and Non-Renewable Natural Resources has launched three procurement processes for renewables, gas-fired and transmission projects in the country, which were announced in September.
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Manulife Investment Management has held a final closing on the Manulife Infrastructure Fund II (MIF II), a $4.65 billion private fund that invests in US energy assets, among others.
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Colombia’s Empresas Publicas de Medellin is in talks with IDB Invest to determine the terms of the prepayment of the debt covering the sponsor’s 2.4 GW Ituango hydro project in northern Colombia.
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Massachusetts-based firm Kendall Sustainable Infrastructure (KSI) has secured financing to support a portfolio of renewable projects primarily located in New York.
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A subsidiary of Chile's AES Andes has filed for Chapter 11 bankruptcy protection in the US after reaching a restructuring agreement with its creditors.
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Enel Generacion Chile has inked a power purchase agreement with commercial manufacturing firm Rheem in Chile.
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Brazil’s Petrobras has reached financial close on the sale of interests in a pair of hydro power plants and a gas-fired project to Global Participacoes Energia (GPE), making the latter the sole owner of the companies controlling the assets.
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Brazilian developer Votorantim Energia is planning to partner up with the investment arm of Canada Pension Plan to consolidate their energy assets into an integrated publicly-listed renewables platform.
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A subsidiary of sugar and ethanol producer Raizen has agreed to launch a joint venture with Brazilian power generator Grupo Gera to develop renewable distributed generation projects in the country.
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Brazil has completed its third power auction for 2021, which favored solar and wind generation projects.
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The merger of Enel's Chilean subsidiaries, namely Enel Generacion Chile and Empresa Electrica Pehuenche, has been suspended after failing to gather support among the latter's shareholders.
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The identity of the financial adviser to Companhia Energetica Integrada (CEI) on its recently formed renewables joint venture with Nebras Power Investment Management (NPIM) in Brazil has emerged.
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AES Corp's Brazilian subsidiary, AES Brasil Energia, has reached out to investment banks as it evaluates a potential follow-on share offering.
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Brazilian development bank BNDES has suspended loan repayments for hydro power plants that each have a capacity of more than 50 MW, as the country faces a devastating drought.
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Vancouver-based renewables developer Elemental Energy has signed a power purchase agreement with a Canadian pipeline operator for the output of a solar project in Alberta.
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Brazilian power regulator Aneel has approved a September auction which will award power purchase agreements to solar, wind, hydro and thermal power plants in the country.
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Ecuador’s Ministry of Energy and Non Renewable Natural Resources has updated its power generation plans to include an additional 1.44 GW of renewable electricity by 2031.
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Atlantic Power has agreed to sell a portfolio of run-of-river hydro projects in New York state to a pair of Canadian buyers.
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Chile’s National Energy Commission (NEC) has taken offers from 29 companies as part of its many times delayed power auction.
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Renova Energia has awarded its stake in hydro firm Brasil PHC to an Emirati state-owned holding company, following a competitive sale process.
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Enel Generación has inked a four-year supply agreement with fruit company Copefrut in Chile.
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Innergex Renewable Energy has purchased the firm that owns and operates an 18 MW run-of-river hydro project in the Chilean region of Los Lagos.
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Spanish independent power producer OPDEnergy has secured an offtaker for a 63 MW (DC) solar project that it is developing in Clarke County, Virginia.
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Enel Green Power's subsidiary in Guatemala has signed a two-year power purchase agreement with McDonalds Corp's local branch.
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Ecuador's Ministry of Energy and Non-Renewable Natural Resources is preparing to procure 500 MW of renewable generation in the country, up from its previously announced target of 200 MW.
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Energy storage developer Daybreak Power has secured a preliminary permit from the US Federal Energy Regulatory Commission for a 2.65 GW pumped hydro storage project in Washington state.
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ArcLight Capital Partners has closed its first continuation fund, namely the ArcLight Renewable Infrastructure Fund.
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Basalt Infrastructure Partners has completed the sale of its Michigan-based electric utility, Upper Peninsula Power Company (Uppco).
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Bakken Energy has partnered with Mitsubishi Power Americas in an effort to acquire the only coal-to-synthetic natural gas production facility in the US and redevelop it as a clean hydrogen hub.
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Non-binding bids are due soon for the sale of a development-stage, 500 MW pumped hydro storage project in Washington state.
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AES has inked a power purchase agreement with Google to supply electricity to the internet giant's Virginia-based data centers.
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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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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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Enel Americas has appointed two investment banks to advise on the process of integrating Enel Green Power's renewable energy businesses in Central and South America, other than in Chile.
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Enterprising energy innovators never tire of coming up with unlikely new locations for power generation – on highways, in roof tiles, at the end of a kite string – with mixed results. Now there’s a start-up producing electrons from municipal water pipes.
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As Latin America's power sector grapples with the consequences of the pandemic, PFR has brought together a diverse panel to share their perspectives on how the market will move forward.
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Brookfield Renewable Partners has promoted its chief investment officer Connor Teskey to CEO, replacing Sachin Shah, who has moved into a senior role at the company’s financial sponsor Brookfield Asset Management.
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Italian energy company Enel has begun the process of integrating its renewable energy businesses in Central and South America, other than in Chile, into its main Americas subsidiary, Enel Americas.
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Six companies have been awarded firm energy obligations for thermal and hydro plants in Colombia as a result of the reliability auctions that took place in September.
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Colombia's Empresas Públicas de Medellín has received a $100 million payment from insurer Mapfre Seguros Generales de Colombia to cover contingency costs associated with construction problems with the 2.4 GW Ituango hydro project.
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Ecuador’s Ministry of Energy and Non-Renewable Natural Resources is planning a procurement process for 200 MW of renewable energy assets.
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Brazil's Companhia energética de São Paulo (CESP) has issued R$1.5 billion ($268 million) in debentures to refinance the 1.54 GW Porto Primavera hydro project in Parana.
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Brookfield Renewable Partners and Hannon Armstrong Sustainable Infrastructure Capital both recently offered green bonds to debt investors in a range of tenors and currencies.
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An investor-owned utility is forging ahead with a re-worked auction process for an operating hydro portfolio located within PJM Interconnection.
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Colombia's Empresas Públicas de Medellín (EPM) says it is preparing to file a Ps$9 trillion ($2.38 billion) lawsuit against the construction firms in charge of its 2.4 GW Ituango hydro project in the department of Antioquía.
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Kayne Anderson Capital Advisors has launched Kayne Anderson Renewable Infrastructure Fund, an open-ended mutual fund that will target companies that own, operate, and develop renewable energy assets.
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Enel Green Power has inked a 10-year power purchase agreement with Guatemala's power distributor Comercializadora de Energia para el Desarrollo (CED), owned by food and energy conglomerate Grupo Magdalena.
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Hydro-Québec's Isabelle Bedard has been seconded to Innergex Renewable Energy as a finance and M&A director as part of strategic alliance between the two companies.
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Colombia’s Empresas Públicas de Medellín (EPM) has begun the permitting process for a 100 MW hydro project in the department of Antioquía.
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Enel Chile has pushed back the commercial operations date for its 150 MW Los Cóndores hydro project as it prepares to pull the plug on its coal-fired assets.
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Norway's state-owned power company Statkraft has signed an agreement to supply Norwegian fish food producer Skretting's operations in Chile with renewable energy.
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Copenhagen Infrastructure Partners has secured a hedge for a solar project it is developing in Ercot.
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California community choice aggregator Clean Power Alliance (CPA) has approved several utility-scale solar-plus-storage power purchase agreements.
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Petrobras has begun the non-binding phase of the sale of its stake in five power plants totaling 682 MW in Brazil.
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PacifiCorp has issued the largest request for renewable resource proposals in the company's history.
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Everyone knows how pumped hydro energy storage works. Water is pumped up a mountain or to some other high place during periods of low demand, before being allowed to flow back through a turbine to generate electricity during peak hours. But what if, instead of being pumped up, the water was pumped down?
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Evolugen (formerly Brookfield Renewable Canada) tested the limits of Canadian investors' appetite for delayed-draw private placements in November 2019, when it issued a dual-tranche project bond to refinance a 488 MW hydro portfolio in Ontario.
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Canada's Polaris Infrastructure is looking to enter the Panamanian power market with the acquisition of a 10 MW hydro plant from Navitas Holdings.
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Petrobras has issued a teaser for the sale of its stakes in five gas, oil, diesel-fired and small hydro plants in Brazil.
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Canada's Polaris Infrastructure has closed a $27 million debt package from Brookfield Asset Management's Infrastructure Debt Fund for a portfolio of hydro projects in Peru.
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Canadian gold mining firm Soma Gold Corp has signed a power purchase agreement for the output of two small hydro projects in Colombia as a condition of its acquisition of a local mining business.
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Pacific Hydro, a renewable energy company with assets in Australia, Chile and Brazil, is looking to refinance corporate debt with a roughly $400 million loan.
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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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LS Power has agreed to buy the one-half stake that it does not already own in the 420 MW Yards Creek pumped hydro plant in Blairstown, New Jersey.
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Norwegian state-owned power company Statkraft has inked two power purchase agreements with food company Agrosuper in Chile.
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Guatemala’s power distributor Energuate has awarded five-year power purchase agreements to four companies as a result of a tender process that began earlier this year.
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Citi has signed a deal with an end customer to cover a portion of the output of a Texas wind project that was financed on the basis of a hedge provided by the bank last year.
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Enel Green Power has signed a five-year power purchase agreement to supply 42 GWh of energy per year to a Guatemalan distribution company.
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An Argentinian power industry association has warned that the sector could face bankruptcies as the government implements the pesification of power contracts and denies inflation adjustments to struggling generators.
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Sempra Energy is nearing the close of the sale of its Peruvian assets to a Chinese buyer having received all required government authorizations.
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Panama's state-owned transmission company Etesa has awarded short-term power purchase agreements with distribution companies to 18 generation companies.
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Puget Sound Energy has signed a power purchase agreement for the output of the major hydro project in the U.S. to be fully owned by Native American tribes.
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The Private Financing Advisory Network (PFAN) has launched a request for proposals for clean energy projects in the Caribbean and Central America.
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Colombia's National Authority of Environmental Licenses (ANLA) has refuted a claim by Empresas Públicas de Medellín (EPM) that the company had received approval to move forward with the construction of its 2.4 GW Ituango hydro project.
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EDP Brazil plans to sell some of its assets in the country in 2020 to finance investments in transmission line and power distribution projects.
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Thirty-nine generation companies have presented bids for a public auction run by Panama's state-owned transmission company Etesa, which will award the winners short-term power purchase agreements with distribution companies.
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Brazilian state-controlled power generator Copel has started the process of selling its main asset—the 1,676 MW Foz da Areia hydro project.
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Fund manager Harbert Management Corp. almost doubled its renewable energy holdings at the end of 2019 when it acquired a stake in an 812 MW wind portfolio, a deal it ultimately opted to finance in the bank market through a holding company called Gulf Plains Wind.
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AES Gener has signed a 20-year power purchase agreement with a copper mine in Chile that is owned by Canada's Teck Resources Limited.
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Hull Street Energy has sealed privately placed debt financing to support its acquisition of a 255 MW hydro portfolio from Enel Green Power North America and GE Energy Financial Services.
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H20 Power, a subsidiary of Canada’s Public Sector Pension Investment Board, has sold a share of its operating hydro portfolio.
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A more-than-1 GW portfolio of wind and hydro projects in the U.S. is set to be split up and sold off separately to two new private equity owners, following a competitive sale process.
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Changes to Mexico's clean energy certificate program could spell trouble for renewable energy developers in the country that had banked on selling certificates in the open market, but most of the wind and solar assets being considered for project finance had already locked in a fixed price, say market participants.
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Two companies have signed 20-year power purchase agreements with wholesale power market administrator Cammesa for projects awarded during the third round of the Argentinian renewable procurement program, RenovAr.
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After several months of negotiations to refinance a bank loan with a private placement, the owners of the Duqueco hydro complex in Chile canceled the bond sale at the last minute and opted for a renegotiation with the banks instead.
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A new bill to freeze consumer power prices in Chile has some project finance bankers worrying about the potential impact on projects with older, higher-priced power purchase agreements.
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Colombian power generator Empresas Públicas de Medellín (EPM) has launched the sale of its shares of a hydro asset in Colombia on Oct. 30.
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Middle-market private equity firm Hull Street Energy has agreed to buy a contracted hydro project in West Virginia.
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Sempra Energy has agreed to sell its interest in Peruvian electricity distributor and hydro developer Luz del Sur to a Chinese buyer.
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The government of Northwest Territories in Canada has appointed Canada Infrastructure Bank to provide advisory services on the Taltson hydroelectricity expansion project.
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Colombian power generator Empresas Publicas de Medellin (EPM) has issued $1.3 billion in bonds in the international markets to refinance its debt.
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Copenhagen Infrastructure Partners has acquired a stake in Absaroka Energy’s 400 MW Gordon Butte pumped hydro storage project near Martinsdale, Mont.
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I Squared Capital has inked a deal to sell a 385 MW U.S. hydro platform to a strategic investor.
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Connor, Clark & Lunn Infrastructure has completed the acquisition of a majority stake in Bremner Trio Hydro Corp., the owner of two construction-stage, run-of-river hydro facilities near Harrison Lake in British Columbia, and closed C$197 million ($148 million) in construction debt financing.
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Latin America Power has closed the refinancing of a 73 MW portfolio of hydro projects in Peru.
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Mid-market private equity investor Hull Street Energy has reached final close on its first institutional equity fund.
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Colombia’s Century Energy Corp. has requested $60 million in support loans from IDB Invest to help finance two run-of-river hydro projects in the country.
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Brookfield Asset Management has added a horde of professionals to the ranks of its renewable energy business since the beginning of the year, most recently Rahul Sharma, who was previously a senior project finance professional at NextEra Energy Resources.
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A senior project finance professional has left NextEra Energy Resources to take up a new position in New York.
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Brookfield Renewable Partners has announced a deal to acquire securities that are convertible into equity in TransAlta Corp.’s hydro portfolio in Alberta.
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Two ratings agencies have chimed in on TransAlta Corp.’s decision to divest its Alberta hydro assets to Brookfield Renewable Partners.
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Brookfield Renewable Partners has announced a deal to acquire securities that are convertible into equity in TransAlta Corp.’s hydro portfolio in Alberta.
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Connor, Clark & Lunn Infrastructure and Desjardins have acquired Canadian renewables business Regional Power from Manulife.
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This week's PPA Pulse showcases the variety of end users procuring renewables, with deals involving social media company Facebook, chip maker Intel Corp., industrial gas producer Air Liquide, Brazilian telecom company The Claro Group and two universities.
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Power Finance & Risk is now accepting pitches for Deal of the Year as part of its 16th Annual Deals and Firms of the Year Awards, recognizing excellence in power asset M&A and project finance across the Americas.
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Hydro Global, a 50:50 joint venture between China Three Gorges Corp. and EDP Energias de Portugal, has acquired an 80% stake in a 170.9 MW portfolio of run-of-river hydro projects in Colombia from Macquarie Development Corp.
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The University of Pittsburgh has signed a letter of intent with Rye Development to purchase the output of a 17 MW run-of-river hydro project on an existing dam in Pittsburgh.
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Brookfield Renewable Partners has sold a 25% stake in a 413 MW portfolio of hydro assets in Canada and is preparing to sell another 25% of the same portfolio by the end of the year.
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Paraguay, home to Jesuit ruins, rainforests and the world’s largest dam, will also soon be home to what is being touted as the world’s largest cryptocurrency mining center and exchange, which will be powered by the massive, state-owned Itaipú hydroelectric project under a 15-year contract.
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Fresh from its latest round of asset sales, AltaGas is looking to offload even more generation, in the form of hydro projects, in order to fund capital projects.
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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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Connor, Clark & Lunn Infrastructure is buying a majority stake in a pair of hydro plants in British Columbia totaling approximately 50 MW.
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Dominion Energy has reached agreements with two buyers for the sales of three generation assets located in Pennsylvania, Rhode Island and Louisiana for a combined $1.32 billion.
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Hull Street Energy has closed its $83 million acquisition of a 68.2 MW New Hampshire hydro portfolio from Eversource Energy, some 10 months after signing the deal.
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A shareholder group led by Hudson Clean Energy Partners has agreed to sell hydro portfolio company Eagle Creek Renewable Energy to Ontario Power Generation.
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After a slow first three months of the year, project finance activity picked up in the second quarter, propelling MUFG to the top spot of the North American power project loans and bonds league tables.
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Colbún has won a competitive tender process to supply a Chilean copper mine with renewable energy.
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Glenfarne Group announced its subsidiary, EnfraGen, had raised $700 million for an eight-project portfolio of diesel and hydro assets in Chile and Panama on July 11.
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Electric cooperative American Municipal Power is marketing a bond backed by a portfolio of run-of-river hydro projects in Kentucky and West Virginia, the proceeds of which it will use to repay debt drawn under a revolving credit facility associated with the assets.
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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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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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A private equity firm has suspended a sale process for a stake in a hydro portfolio company.
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A joint venture between Axium Infrastructure and Manulife Financial Corp. has agreed to acquire a 35% stake in AltaGas’ hydro assets in northwest British Columbia for C$922 million (approximately $700 million).
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Brazil’s CPFL Geração de Energia has received board approval to raise R$1.4 billion ($375 million) in the debt market.
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PFR is pleased to announce the winners of its 15th Annual Deals and Firms of the Year Awards, with added emphasis this year on the leading investment banks in power across the Americas.
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Hydro shop Northbrook Energy has agreed to acquire a run-of-river generation portfolio in the Western Carolinas from a subsidiary of Duke Energy.
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Innergex has lined up the purchase of a pair of hydro projects in Chile in partnership with local company Energía Llaima, marking the Canadian developer's first step into Latin America.
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Innergex Renewable Energy has taken full ownership of several Canadian hydro assets by acquiring a 33.3% stake in the projects from Ledcor Power Group.
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AES Gener has put the finishing touches to a restructuring agreement with the banks that are funding its troubled 531 MW Alto Maipo hydro project in Chile, and Fitch Ratings has bumped up the outlook on the company's debt as a result.
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Canada’s Hydro One is moving closer to sealing its acquisition of Washington state-based Avista Corp.
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Nova Scotia’s Department of Energy has issued marine renewable energy permits and authorized a power purchase agreement for a tidal generation project in the Bay of Fundy.
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Canada’s Sekw'el'was Cayoose Creek Band and Innergex Renewable Energy have renewed their electricity purchase agreement with BC Hydro for the output of a 16 MW run-of-river hydro project in British Columbia.
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Canadian utility British Columbia Hydro and Power Authority (BC Hydro) is freezing energy procurement until further notice, following the victory of the New Democratic Party in a provincial election in British Columbia last year.
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Troutman Sanders has hired a former Van Ness Feldman lawyer who specializes in hydro regulation as a partner in its Washington, D.C., office.
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Delegates at the Euromoney Seminars 12th Annual Latin American Energy & Infrastructure Finance Forum in Miami Beach are keeping at least one eye on Latin America’s colorful political landscape, as a year of national elections and unfolding corruption probes promises to have a bearing on project financings and M&A deals.
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The New York State Research and Development Authority has awarded $1.4 billion of renewable energy credit contracts to 26 solar wind and hydro projects following a competitive procurement process.
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An Oregon utility has signed two power purchase agreements for generation from the Federal Columbia River Power System to make up for the planned retirement of a 550 MW coal-fired plant, as it prepares a renewables procurement exercise.
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Rye Development, which owns hydro assets in several U.S. states, has appointed a new chief executive.
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There are a few days remaining to cast your votes for the best project sponsors, banks, law firms, institutional and tax equity investors and deals in PFR's 15th Annual Deals and Firms of the Year Awards.
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The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter.
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Brookfield Renewable Energy Partners has priced a private placement to refinance a pair of Pennsylvania hydro projects.
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Brookfield Renewable Energy Partners issued $350 million of 15-year senior secured notes this month to refinance the 248 MW Holtwood facility and the 44 MW Wallenbaupack project.
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Brookfield Renewable Energy Partners is refinancing a pair of Pennsylvania hydro projects in the private placement market.
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Project finance bankers are pinning their hopes on merger and acquisition activity to keep them busy this year, but they may have to wait a while for it business to pick up, say deal watchers.
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A private equity firm has hired an adviser to sell its stake in a portfolio of hydro assets spread across the U.S.
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Canadian miner Kinross Gold Corp is planning to raise around $200 million of debt to part-finance its acquisition of two hydro plants in Brazil with a combined capacity of 155 MW.
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Bonds increased as a proportion of North American project finance deals in 2017 versus loans, as MUFG remained top in both categories, according to data from Dealogic.
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A proposal to link Canadian hydro projects to the U.S. grid has been selected in a request for proposals in New England as T-Mobile emerges as a second non-utility offtaker for a Kansas wind project and Duke Energy strives to meet a poultry waste generation target, all in this week’s PPA Pulse.
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A northern partnership seeking to link Canadian hydro projects to the U.S. grid has emerged as the preferred bidder in a request for proposals in New England, as a Louisiana utility moves ahead with its plan to add more renewables to its fleet.
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Italian companies Building Energy and Grupo Scotta have created a joint venture with a view to developing around 30 MW of solar and hydro projects in Chile, which will require a total investment of roughly $37 million.
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Empresas Públicas de Medellín has signed a $1 billion AB term loan package for its 2.4 GW Ituango hydro project in northern Colombia, in a rare example of international commercial banks joining a big-ticket deal in the country’s power sector.
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Wind generation dominated the Brazilian A-6 power auction in December, with 49 projects totaling some 1.39 GW garnering power purchase agreements that come into force in 2023. A week earlier, solar projects won most of the contracts in the A-4 auction for projects due to be online in 2021. Small hydro, biomass and gas-fired projects also secured contracts.
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Canada’s ATCO has agreed to buy the 35 MW Electricidad del Golfo (EGO) hydro facility in Mexico from U.S private equity firm Conduit Capital Partners for around $114 million, as the energy and logistics conglomerate continues its expansion into the Mexican power market.
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Power Finance & Risk is accepting pitches for Deal of 2017 as part of its 15th Annual Deals and Firms of the Year Awards, recognizing excellence in power asset M&A and project finance across the Americas.
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Argentina has awarded contracts to 1.4 GW of renewable projects in the second round of its RenovAr program, with wind generation emerging as the biggest winner, just as Moody’s Investors Service revises the credit scores of a handful of power and distribution companies upward.
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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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A private equity firm has agreed to acquire the majority of IC Power’s generation assets through the purchase of its Latin American subsidiary Inkia Energy.
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The sponsors behind Chile’s controversial 2.75 GW HidroAysén hydro project have announced that they will not go ahead with the venture, saying it is no longer economically feasible.
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Chile has picked five companies to sign roughly 600 MW of contracts in a competitively bid renewables auction, as the country’s National Energy Commission (CNE) seeks to attract almost $1 billion of investment.
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Latin American generator Inkia Energy is marketing a 10-year bond this week, as the company looks to buy back $450 million of debt at a time of uncertainty over its ultimate ownership.
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Sponsors are increasingly sourcing project debt in the capital markets rather than from banks, according to data from Dealogic, which is good news for financial institutions with private placement desks.
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Brazilian renewable energy company Renova Energia said on Oct. 17 that a period of exclusive talks with Brookfield Asset Management around a potential sale of the company had expired with no agreement reached.
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Eversource's 1.2 GW New Hampshire generation portfolio is set to be sold in two portions following an auction process that was launched at the beginning of the year.
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Rabobank's Gregory Hutton discusses the bank's project finance strategy in the rapidly evolving U.S. renewables sector, touching on non-utility offtakers, community solar and biomass, in the second part of this exclusive interview with PFR's Fotios Tsaoruhis
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Bids from investors are due on Oct. 16 for a $305 million private placement refinancing of a Brookfield Renewable Energy Partners hydro portfolio located mostly in New York state.
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Gregory Hutton, managing director and head of project finance for the Americas in Rabobank’s New York office, discusses the renewables landscape, project finance pricing and deal flow and the impact of the Suniva trade case in the first part of an exclusive interview with PFR reporter Fotios Tsarouhis.
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Brookfield Renewable Partners is preparing to issue a $305 million bond to refinance a portfolio of hydro assets in New York ISO and PJM Interconnection.
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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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LS Power wrapped a mini-perm on Friday to finance part of its acquisition of a bundle of merchant generation assets, called Aspen Generating, from FirstEnergy.
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The Brazilian subsidiary of Italy’s Enel plans to raise bridge financing to partly fund the acquisition of a concession for a 380 MW hydro project on the Rio Grande, called Volta Grande.
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Project sponsors have submitted more than 200 proposals in response to requests for proposals being run by a New York utility company and state agency.
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PFR has learned the identity of the investment bank advising Pacific Gas & Electric on the sale of a portfolio of two run-of-the-river hydro projects.
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Sponsors have registered more than 2,700 projects totaling 77 GW to participate in Brazil's latest power auction, with a large bias toward renewables.
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Pacific Gas & Electric has hired an investment bank to run an auction for the sale of the 25.8 MW DeSabla-Centerville hydro project in northern California.
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An LS Power owned fund has knocked $100 million off the purchase price for a 1,615 MW portfolio of generation assets it is acquiring from two FirstEnergy subsidiaries.
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Odebrecht Latinvest has lined up a buyer for its 456 MW Chaglla hydro project in Peru.
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Argentina has kick-started its latest tender for renewable project contracts with a tax incentive for renewables companies
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AES Corp. is deciding whether to proceed with the Alto Maipo hydro project in Chile, according to analysts, amid talks with creditors over a technical default as the over-budget development seeks a new contractor.
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Fortis will no longer acquire Teck Resources’ two-thirds stake in the 496 MW Waneta Dam hydro project in British Columbia, after BC Hydro exercised its right of first offer over the asset.
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Caisse de dépôt et placement du Québec has acquired a 17.3% interest in Canadian developer Boralex.
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Kenon Holdings has entered negotiations to sell its primarily Latin American generation subsidiary IC Power after being approached by several buyers.
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In June, officials from KeyBanc Capital Markets, Prudential Capital Group, Voya Investment Management and BlackRock discussed the latest trends U.S. renewable project finance with PFR.
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For the first time in over three decades, renewables have overtaken nuclear plants in the race to power the U.S.
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Eversource’s auction of its 1.2 GW generation portfolio has moved into a second round.
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A Bethesda, Md.-based private equity shop has completed its acquisition of a hydro portfolio from funds managed by affiliates of The Carlyle Group.
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Brookfield Renewables wrapped a private placement last week to refinance a merchant hydro portfolio in New England.
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Odebrecht is close to selecting a buyer for its 406 MW Chaglla hydro project in Peru.
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Enel has mandated financial advisers to run tandem sales processes for all of its generation assets in in Mexico and Panama, which total over 2.3 GW.
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Power Finance & Risk announced the winners of its 14th Annual Deals and Firms of the Year Awards at a drinks reception at the Bryant Park Hotel in New York on May 24.
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Brazil’s largest integrated energy company Cemig plans to release a list of assets in the coming weeks that it wants to sell to reduce its R$14.728 billion ($474 million) consolidated debt pile, the company’s chief financial officer said in a conference call.
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LS Power has closed a hybrid bank and institutional debt financing for a more-than-3 GW portfolio of merchant and gas-fired projects and sold the assets to a new group of institutional investors.
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Utility company Fortis has agreed to purchase Teck Resources’ two-thirds interest in the 496 MW Waneta Dam hydro project and accompanying transmission assets in British Columbia, Canada for $1.2 billion.
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Pembina Pipeline Corp. has agreed to acquire Veresen, the Calgary, Alberta-based company which is in the process of selling its remaining generation assets as it focuses on its gas pipeline business.
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Pricing on the term loan B backing The Carlyle Group’s Nautilus Power portfolio, previously known as Essential Power, flexed up last week. The deal was priced on Friday.
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Eagle Creek Renewable Energy is purchasing two hydro assets associated with a paper mill in Maine that ceased operations nearly a year ago from Madison Paper Industries
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The Carlyle Group has hired Morgan Stanley to lead a refinancing of a term loan B secured by a portfolio of gas-fired, oil-fired and hydro projects that the private equity firm acquired last year.
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Bankers are already competing for prospective mandates from companies looking to bid for contracts available this year under Alberta's 5 GW renewables program. The first round, which will award 400 MW of contracts, opened for expressions of interest on Friday.
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Five Massachusetts electric distribution companies have issued a request for proposals for renewable projects in the state, with a view to signing 15- to 20-year contracts for over 1 GW of generation and associated renewable energy certificates.
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The online poll for PFR’s Deals and Firms of the Year Awards has closed, after market participants voted for the banks, sponsors, investors and deals they thought were most impressive in 2016. The survey received roughly double the number of votes cast last year.
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Atlantic Power Corp. has held a lender meeting with a view to repricing a term loan B it originally issued about a year ago, during a more turbulent time in the market.
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Argentina is planning a round of energy auctions this year, the country's energy minister said days after the World Bank approved a $480 million guarantee to promote private investment in the country’s renewable sector.
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EDF Renewable Energy has found two buyers for a hydro facility that is under construction in Oregon.
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Sammons Renewable Energy has acquired four development-stage hydro projects in British Columbia from Italian developer and contractor Sorgent.e, and is planning to raise debt financing for the projects next month.
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JP Morgan has distributed a teaser for Eversource’s 1.2 GW New Hampshire generation portfolio as it prepares to run a two-stage auction for the assets.
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The controversial 11 GW Belo Monte hydro project in Brazil’s Amazonian state of Pará has received an $826 million-equivalent financing to build the first of two transmission lines to siphon generation to the country’s South East.
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PFR is pleased to announce the finalists for its 14th Annual Deal of the Year awards. Here is the short list for North America M&A Deal of the Year.
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Three buyers have agreed to acquire Veresen’s 625 MW generation portfolio for a combined purchase price of $1.18 billion.
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Following a competitive nomination process and careful deliberation, PFR can now reveal the finalists for its 14th Annual Deal of the Year Awards.
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Several bidders have been shortlisted in an auction two investment banks are running to sell Latin America Power, the renewable generation company that was going to be acquired by SunEdison and its yield companies in a deal that fell apart in 2015.
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A Canadian infrastructure company is near to closing the sale of over 600 MW of generation assets to one or more buyers, deal watchers tell PFR.
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The most frequently asked questions regarding nominations for our Deal of the Year Awards.
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FirstEnergy Corp. has found a buyer for all four of its merchant gas-fired projects in Pennsylvania and its interest in a hydro facility in Virginia.
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The deadline for nominations for Power Finance & Risk's Deal of the Year 2016 awards is coming up quickly. Make sure your deal of the year doesn't miss out on the short list by sending in a nomination by Jan. 31.
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Boralex has sealed a $74.3 million financing from three insurance companies for its 16 MW Yellow Falls hydro project in Ontario.
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FirstEnergy Corp. has entered into exclusive negotiations with a potential purchaser of five generation assets, according to a filing with the U.S. Securities and Exchange Commission.
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ContourGlobal is acquiring a 20% stake in a 209 MW portfolio of hydro and gas-fired projects in Brazil from Neoenergia.
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Power Finance & Risk is now accepting submissions for its Deal of the Year 2016 Awards, recognizing excellence in power asset M&A and project finance across the Americas.
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FirstEnergy Corp. is selling its fleet of 14 competitive generation assets, all in PJM Interconnection, as part of a strategic review at the utility.
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TransCanada has agreed to sell its U.S. generation assets to two private equity shops, LS Power Equity Advisors and ArcLight Capital Partners.
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Veresen has received more than 200 expressions of interest for a 625 MW portfolio of generation assets it is selling in Canada, according to a person familiar with the process.
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The Carlyle Group’s Essential Power has renegotiated the terms of its senior secured debt, including an extension of its revolving credit facility. However, one of the revolver lenders has dropped out of the deal, according to a report by Moody’s Investors Service.
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TD Securities has launched the sale process for Veresen’s generation assets in Canada, a deal watcher tells PFR.
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Two buyers have agreed to acquire Duke Energy's Latin American assets in separate transactions that will complete the North Carolina-based utility company’s divestment from the region, following a two-stage auction.
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The average price of power purchase agreements awarded in Mexico’s second power auction was 30% lower than in the first auction, with one PPA coming in at just $26.99/MWh. The low prices will translate into lower leverage on projects, say deal watchers.
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Several New York-based structured and project finance bankers have left BBVA as a result of a shake-up of the Spanish bank’s corporate and investment banking division in the U.S.
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AMP Capital has hired a former Caithness Energy finance official as it expands its infrastructure debt team in New York.
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In this week’s Industry Current, Bernays ‘Buz’ Barclay, managing partner at Rimon P.C. and senior adviser to Marathon Capital, calls on the power industry to engage with blockchain technology.
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Hydro projects have long lifespans and a number of assets which are changing hands today were financed more than a century ago, when project finance transactions were a little different.
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A Boulder, Colo.,-based hydro sponsor has acquired two projects in New York state.
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Green Mountain Power is purchasing a 16.4 MW portfolio of hydro projects in New England from Enel Green Power North America, following a spate of hydro deals in the region.
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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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Hydro shop Eagle Creek Renewable Energy has acquired Swift River Company, a New England company that owns four run-of-the-river projects in Massachusetts.
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Duke Energy is moving closer towards selling its 4.4 GW Latin American portfolio, which consists of all of the company's generating assets in the region.
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Consumers Energy Co. issued $450 million bond on Monday after releasing its second quarter earnings report last week. Other utilities are expected to follow suit in the coming days as they seek to meet their funding needs before the market slowdown at the end of August.
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Non-utility offtakers signing up to procure renewable generation have an ever growing range of options at their disposal, as the latest selection of agreements demonstrates.
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Cube Hydro Partners, the hydro platform of infrastructure investment manager I Squared Capital, is acquiring a portfolio of four hydro facilities from a subsidiary of aluminum producer Alcoa, following exclusive bilateral negotiations.
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PwC recently carried out a survey of U.S.-headquartered companies regarding their approach to procuring energy, and George Favaloro, an m.d. at the accountancy, tax and advisory firm, was on hand at the REFF Wall Street conference in New York to share the results.
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Hydro Ottawa is acquiring the 27 MW Centrale Hull 2 hydro project on the Gatineau, Québec, side of Chaudière Falls.
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A Santiago-based sponsor is in talks with a boutique investment bank to raise equity for a pumped-storage hydro project and a nearby solar project in the Tarapacá region of Chile.
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The buyer has been identified for a hydro project in upstate New York that Canadian midstream gas and power company Veresen announced it was selling last month.
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TransAlta Renewables has priced a C$159 million ($122 million) project bond as its parent company, TransAlta Corporation, seeks to replace corporate level debt with non-recourse project debt.
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Canadian infrastructure firm Veresen has agreed to sell its 33 MW Glen Park hydro project in upstate New York.
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Power Finance & Risk announced the winners of its 13th Annual Deals and Firms of the Year Awards at the PFR Awards Dinner at the Metropolitan Club in New York on Wednesday, April 18. Read the full list of winners here.
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In this week’s Industry Current, Randy Male, managing director at Bostonia Partners in Boston, explores the latest innovations in renewables financing in the wake of a challenging 12 months for the yield company sector.
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Dynegy is considering a high yield bond offering or a term loan B to finance its acquisition of an 8.7 GW portfolio from Engie by the fourth quarter of 2016.
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The votes are in, and Power Finance & Risk can now reveal the nominees for the Deals and Firms of the Year Awards.
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The State of Vermont is exploring a partial or complete purchase of the 560 MW hydro portfolio being sold by TransCanada Corp., to partially finance its $13 billion acquisition of the Columbia Pipeline Group.
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Power Finance & Risk’s Deals & Firms of the Year Awards poll has been extended until April 16, giving you an additional week to tell us which banks, sponsors and law firms best navigated the markets in 2015.
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Odebrecht is considering the sale of one of its Latin American hydro projects.
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Brookfield Renewable Energy Partners has closed its acquisition of two hydro projects from Talen Energy for $860 million.
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TransCanada plans to sell its merchant power assets in the Northeast to fund its $13 billion acquisition of Columbia Pipeline Group.
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Attendees at Euromoney Seminars’ 10th Annual Latin American Energy and Infrastructure Finance Forum looked into the potential for accessing large regional markets through their smaller neighbors on Tuesday at the Ritz-Carlton South Beach in Miami.
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SunEdison has settled a lawsuit brought against it by the shareholders of Latin America Power after SunEd pulled out of a deal to acquire the Chilean wind and hydro sponsor last year.
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Innergex Renewable Energy and the Sekw'el'was Cayoose Creek Indian Band have bought the 16 MW Walden North hydro project in British Columbia.
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Dynegy is purchasing Engie's mainly gas-fired conventional portfolio, while Canada's Public Sector Pension Investment Board is acquiring a New England hydro portfolio from the French utility.
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Power Finance & Risk’s Deals & Firms of the Year Awards are back, recognizing excellence in power finance and asset M&A across the Americas.
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H2O Power, a hydro generator majority-owned by Canada’s Public Sector Pension Investment Board, has acquired its first assets in the United States.
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A group of individual investors are indirectly acquiring the 37.8 MW Smith Creek hydro project in Boundary County, Idaho, from the Eugene Water & Electric Board.
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Duke Energy has announced that it is considering a sale of all its assets in Latin America. The 4.4 GW portfolio includes projects in Brazil, Argentina, Chile, Guatemala, Peru, Ecuador, and El Salvador.
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The Carlyle Group has agreed to acquire IFM Investors’ 1,767 MW Essential Power portfolio, which includes gas-fired, oil-fired, and hydro assets in the Mid-Atlantic and New England.
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A subsidiary of a fund managed by London-based Icon Infrastructure will indirectly obtain a 468 MW portfolio of installed, mixed generation assets as part of its acquisition of Capstone Infrastructure, a Toronto-based open-ended trust.
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TransAlta will raise between $400 million and $600 million of non-recourse project debt this year to replace $400 million of corporate bonds maturing in June, 2017.
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Eagle Creek Renewable Energy has acquired Verso Androscoggin Power, an affiliate of paper manufacturer Verso Corporation.
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Empresas Públicas de Medellín has closed a $1 billion loan backing the 2.4 GW Ituango hydroelectric project on the Cauca River in northwestern Colombia.
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A consortium led by Brookfield Renewable Energy Partners has agreed to acquire a 57.6% interest in Isagen, from the Colombian government for 6,486 billion Colombian pesos ($2.2 billion).
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Alabama Power and Black Hills Corp. were among eight corporate issuers to launch deals in the U.S. bond market on Friday, Jan. 8, when investment grade issuance resumed after a three-day lull.
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TransAlta has closed the sale of a three-project portfolio totalling 611 MW to its yield company, TransAlta Renewables.
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Chilean developer Valhalla is seeking debt and equity financing for an up to 600 MW solar project and a 300 MW hydro facility in the Tarapacá region of Chile.
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Brookfield Renewable Energy and Emera have refinanced 610 MW of hydro facilities on the Deerfield River in Massachusetts via a private placement.
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SunEdison has rewritten its agreement to acquire residential solar company Vivint Solar, cutting the purchase price by $1.25 a share, the company said on Wednesday. The revised plan has been broadly welcomed by investors, who had called for SunEdison to restructure the deal on more favorable terms.
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SunEdison has terminated agreements to acquire a portfolio of assets from Renova Energia and take a stake in the company.
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Cube Hydro Partners, a subsidiary of global infrastructure investment manager I Squared Capital, has purchased York Haven Hydro Station in York County, Pa.
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In third quarter earnings calls, yield company executives have faced questions about what strategic options they have, should the volatility the sector has faced since June fail to abate.
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Non-utility corporate offtakers have continued to snap up power purchase agreements for the output of renewables projects in the last months, and it’s not all for data centers, although there were a couple of those.
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Boston-based FFP New Hydro has acquired a 52 MW hydro project at the John H. Overton lock and dam on the Red River in Rapides Parish, Louisiana, from Northwest Power Services.
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Talen Energy has pulled its $400 million term loan B due to market conditions. The company has announced over $1.6 billion asset sales in the last few weeks.
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Alterra Power Corp. is acquiring four hydroelectric projects from Sigma Engineering. The small-scale hydro projects range from 10 MW to 15 MW and all sit along the Toba Montrose transmission line in British Columbia.
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Talen Energy Corp. is running a sale process for over 1 GW of projects within the PJM Interconnection region.
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Talen Energy Corp. has agreed to sell two hydro projects to a subsidiary of Brookfield Renewable Energy Partners, and a gas-fired plant to TransCanada, for a combined $1.51 billion.
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The range of non-utility large-scale renewables offtakers continues to diversify, with the U.S. Department of Navy recently joining the fray by signing a 25-year power purchase agreement for a 210 MW solar project in Arizona.
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Ares-EIF and Northbrook Energy have sold two hydro projects totaling 30.4 MW to the Public Sector Pension Investment Board less than three years after acquiring the projects.
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Lima-headquartered power producer IC Power has filed an F-1 form with the U.S. Securities and Exchange Commission for its initial public offering.
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Tenaska and IFM Investors are among the players that can go ahead with the sale of large portfolios of merchant assets in the North East now that PJM Interconnection has announced the results of its capacity market auction.
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Several large portfolio sales involving assets in the North East are set to go ahead following the results of the PJM Interconnection capacity market auction. Elsewhere, renewables assets are changing hands and EDF RE has boosted its development pipeline by acquiring OwnEnergy.
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IFM Investors has started a sale process for its 1,080 MW Essential Power portfolio, one of several large holdings that may be sold now that the delayed PJM capacity auction results have been announced.
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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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Benjamin L. Israel, a Kaplan, Kirsch & Rockwell partner discusses renewable energy mandates in the context of the EELI v. Epel case--in his capacity as a representative of the Interwest Energy Alliance, an intervening party in the case.
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Standard & Poor’s has given TerraForm Global its first credit rating, ahead of the yield company's inaugural bond issue.
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SunEdison’s emerging market yield company launched its initial public offering and kicked off a roadshow for an $800 million green bond on Monday, both expected to be priced on July 30.
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In the second part of this exclusive interview, Mona Dajani, a partner in the banking and finance practice at Baker & McKenzie’s Chicago and New York offices, talks to PFR about the sustainability of the yieldco business model and the consequences of high levels of liquidity in a credit market pepped up by new entrants.
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The president and ceo of a major renewables project sponsor has left the company.
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SunEdison is the latest to join the bandwagon of private players investing in Brazil in spite of concerns over a nationwide economic lull and the declining contribution of the country's development bank to project financing.
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SunEdison and its yieldco TerraForm Power have scooped a 930 MW wind portfolio for $2 billion from Chicago-based Invenergy, warding off competition from other potential buyers.
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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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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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After obtaining loans for the Big Silver Creek hydro project, Innergex aims to close the financing for the last of its current crop of Canadian projects by Q3, as it eyes expansion into Western Europe and Latin America.
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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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Barclays's stake purchase in a Rio de Janeiro-based startup could put a lid on investor concerns over what alternatives would emerge to offset a potential shortage of project-level funds from BNDES.
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Québec-based Boralex has issued a C$125 million ($100 million) five-year convertible debenture to refinance the renewable developer's existing debt and fund acquisitions and capital projects.
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SunEdison has tapped four banks as bookrunners for an IPO of its emerging markets yield company.
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Hydro-Québec has issued a request for proposals for 500 MW of capacity generation in Québec.
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Fortis is selling its interests in a portfolio of hydro projects in New York to an affiliate of the City of Ottawa.
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This week’s Industry Current is written by Mona Dajani, partner, and Michael Reed, associate of the North America energy, banking & finance group at Baker & McKenzie. The feature provides insights into Mississippi's Court ruling mandating Mississippi Power Co. to refund $281 million to ratepayers.
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GE Energy Financial Services and Enel Green Power North America are launching yield company EGPNA Renewable Energy Partners.
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A GE Energy Financial Services unit has agreed to purchase a stake in a portfolio of renewable and thermal projects totaling 579 MW from an affiliate of Enel Green Power North America.
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Eversource Energy is looking to sell roughly 1 GW of hydro and thermal plants in New Hampshire through an auction.
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Innergex Renewables has closed a C$491.6 million ($392 million) financing for two hydro projects in British Columbia, its largest project financing to date.
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This week’s Industry Current is written by Randy Male, managing director at boutique investment banking firm Bostonia Partners in Boston. Male discusses the growing appetite for yield companies and evolving trends in renewables financing.
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Jim Schaefer, senior managing director and global head of energy, power & renewables, has left Blackstone Advisory Partners in New York.
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Ontario’s Independent Electricity System Operator has issued a request for proposals for 565 MW of renewable generation.
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Andrea Picott, managing director of loan sales and trading at Société Générale, has left the bank for Capital One in New York.
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The Tennessee Valley Authority has agreed to acquire Quantum Utility Generation’s 760 MW CCGT Choctaw plant near Ackerman, Miss., for $340 million.
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The lack of PPAs and an abundance of capital are driving more lenders to participate in merchant and quasi-merchant deals.
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Dino Barajas, partner at Akin Gump Strauss Hauer & Feld, explores investor interest in Mexico's renewables sector and highlights related prospects and opportunities.
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Mona Dajani, partner at Baker & McKenzie, explains how a recent U.S. Federal Energy Regulatory Commission policy statement could, if adopted, have a significant impact on valuations of large regulated utility mergers and swaps of generation asset portfolios.
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Deals and projects are lighting up several spots in Latin America this month, with U.S., Asian and Canadian entities making plays in the region.
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Brookfield Renewable Energy Partners has agreed to purchase a 488 MW portfolio of wind, hydro and biomass portfolio from Energisa for roughly $545 million in equity.
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LS Power is considering bringing a portfolio of assets in PJM and New England to market.
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Offtakers in the North America are locking in contracts for an array of fuel types, from wind and solar, to landfill gas and coal.
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The second installment of this Industry Current on tidal range power is written by Ted Verrill, president and ceo of Halcyon Tidal Power in Southport, Conn.
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Alterra Power and Fiera Axium have wrapped a C$176.5 million ($157.2 million) loan for the 62 MW Jimmie Creek hydro project in the Toba Valley, British Columbia.
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LS Power is in the market to sell the portfolio of hydro assets that it bought from FirstEnergy Corp., say observers.
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The Yieldco Sweep is an exclusive monthly feature that tracks the performance and activity of key yield companies in the power sector with illustrative graphics and market insight.
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Innergex Renewable Energy has closed a C$92.9 million ($83.4 million) package financing its 21.2 MW Tretheway Creek run-of-river hydro project in British Columbia.
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This week’s Industry Current is the transcript of a discussion between a group of seasoned investment bankers that focused on new financing trends, including the term loan B market, green bonds, state green banks, yield companies, financing for merchant plants and other topics.
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Wind and solar developers have landed a bevy of power purchase agreements in recent weeks as some requests for proposals, such as Duke Energy’s hunt for solar generation in North Carolina, come to a close. The PPA Pulse is a guide to which sponsors and projects have recently garnered power purchase agreements in the Americas.
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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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Innergex is reportedly talking to prospective lenders for financing backing one of its larger hydro projects in Canada.
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Hydro Green Energy, a hydro developer in Westmont, Ill., is out raising equity as it gears up to finance the first project in a roughly $750 million, 250 MW pipeline.
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Burrows Paper Corp. is in the final stages of selling a portfolio of roughly 19 MW of hydro assets in upstate New York.
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Innergex Renewable Energy has formed a joint venture with the In-SHUCK-ch Nation to develop a C$720 million ($661 million) portfolio of six hydro projects totaling roughly150 MW in British Columbia.
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Welcome to the premiere edition of the Yieldco Sweep, an exclusive monthly feature that will track the performance and activity of key yield companies in the power sector with illustrative graphics and market insight.
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Mitsubishi UFJ Financial Group has climbed back to the top of mandated lead arrangers in power project finance in North America in the second quarter, lending $497 million during the period, according to PFR affiliate Dealogic.
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The following feature is the final installment of a transcript of a panel co-hosted by Orrick, Herrington & Sutcliffe LLP and PFR as part of our #PowerDrinks series.
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Atlantic Power Corp. has received fewer bids than expected as prospective buyers were stymied by questions about the company’s preferred transaction and uncertainty about a class action lawsuit.
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Developers and financiers have bid a bounty of different technologies and project sizes into New York Green Bank’s request for proposals.
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NorthWestern Energy has launched a call for up to 45 MW of community-scale renewable energy in Montana.
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Jeetu Balchandani, formerly MetLife’s head of lease, tax, infrastructure equity and tax credit investments, has joined BlackRock’s U.S. infrastructure debt team as the firm looks to boost its presence in the North America infrastructure space.
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A record number of entities participated in voting for Power Finance & Risk’s awards, recognizing excellence and innovation in the power project finance industry in 2013.
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Alok Garg has joined Wells Fargo as a managing director in New York.
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A growing number of developers are suing the U.S. government for allegedly not paying out the full amount of cash grants eligible to qualifying renewable projects under the section 1603 program of the American Recovery and Reinvestment Act.
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Renewables developers and scores of their attorneys are keeping a close watch on several sets of proceedings at the U.S. Court of Federal Claims in Washington D.C.
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Brookfield Renewable Energy Partners has agreed to buy Exelon Corp.’s stake in Safe Harbor Hydro for $613 million—a deal that makes Brookfield the full owner.
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Innergex Renewable Energy has been speaking to life insurance companies in Canada to finance its 23.3 MW Trethaway hydro project, the first in a C$1.1 billion ($1.01 billion) pipeline of development projects in Canada.
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Black Hills Energy-Colorado Electric has issued two requests for proposals for a total of 102 MW in southern Colorado.
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Alterra Power Corp. and Fiera Axium Infrastructure are looking to secure debt to back construction of the 62 MW Jimmie Creek hydro project in southwest British Columbia.
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Apple, Inc., has bought a hydro project in central Oregon from developer Earth by Design that is near one of its data centers in Prineville, Ore.
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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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MISO’s second capacity auction yielded capacity price increases in each zone but fell short of some estimates.
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The PPA Pulse is a guide to which sponsors and projects have recently garnered power purchase agreements in the Americas.
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Abengoa has filed to take a portfolio of global power and transmission assets public in a NASDAQ-listed yield company.
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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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Energy Capital Partners has closed its third fund at just north of $5 billion.
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In this week's round-up: Lenders anticipate boost from gas-fired greenfield and wind projects as well as acquisition financings.
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Harbinger Group has invested in Energy & Infrastructure Capital, a new platform that is looking to lend a range of debt to sectors, including power and midstream gas.
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The PPA Pulse is a guide to which sponsors and projects have recently garnered power purchase agreements in the Americas.
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LS Power Equity Advisors has closed its third fund, LS Power Equity Partners III, at $2.075 billion.
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Beowulf Energy and Natural Gas Partners, affiliates of Paul Prager’s Bicent Energy, have landed a $200 million refinancing of their Vernon portfolio of projects.
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MidAmerican Energy Holdings Co. is buying TransAlta Corp.’s stakes in an 867 MW portfolio of gas-fired, geothermal and hydro assets around the U.S.
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Brookfield Renewable Energy Partners will be looking to line up financing on a set of hydro assets in the U.S., including a stake it is buying from LS Power.
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BluEarth Renewables is looking to secure upwards of C$300 million ($270.15 million) backing three renewable projects in Canada in the coming months.
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Bill Sutherland, senior managing director of project finance at Manulife Financial Corp. in Toronto, spoke with Senior Reporter Holly Fletcher about what the lifeco likes to see in projects in the second and final installment of the Q&A.
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AES Gener and Antofagasta Minerals have closed the $1.217 billion debt package backing the 531 MW Alto Maipo hydro project in Chile.
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AES Gener and Antofagasta Minerals are close to wrapping the financing backing the $2 billion, 531 MW Alto Maipo run-of-river hydro project in Chile, tapping the multilateral, bank and bond markets.
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Exelon Corp. is mulling how to refinance portions of its roughly 7 GW unregulated gas-fired and 1.6 GW hydro fleet next year.
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Efficient Energy of Tennessee is proposing to install solar panels on up to 79 buildings owned by Knox County, Tenn.
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The Maine Department of Environmental Protection has delayed issuing a decision on First Wind’s 62-wind turbine Bingham wind project over concerns about bat health.
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A blade of a GE 1.6-100 wind turbine fell off of a turbine in Invenergy’s Orangeville project in New York, following two blades from the same model falling off of two DTE Energy wind farms in Michigan.
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Lawyers representing the town of Forest Hills, Wis., have asked the Public Service Commission of Wisconsin to reconsider its approval of the $250 million, 102.5 MW Highland wind project.
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Alterra Power is planning to finance a $240 million hydro project in British Columbia and a roughly $400 million merchant Texas wind project in 2014 after it closes the acquisition of each.
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Brookfield Renewable Energy Partners has agreed to buy 85 MW of hydro facilities in Maine and California in a pair of deals with ArcLight Capital Partners and Exelon.
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ArcLight Capital Partners is aiming to sell its Black Bear Hydro portfolio in Maine.
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NorthWestern Energy has agreed to buy the hydro portion of a hydro and coal-fired portfolio being sold by a subsidiary of PPL Corp.
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PFR Managing Editor Sara Rosner sat down with Marathon Capital’s Ted Brandt, Gregg Elesh, Terry Grant and Wendy Carlson to discuss the shop’s take on wind, solar and thermal trades in the second installment of this Q&A.
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Algonquin Power & Utilities has sold a portfolio of hydro assets in the Northeast totaling 29 MW to a portfolio company of Hudson Clean Energy Partners for $27 million.
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The New York State Green Bank will begin lending to renewables projects in the state in January next year.
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FirstEnergy Corp. has agreed to sell a portion of its 1,240 MW of hydro assets in PJM to LS Power.
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Chilean generator Colbún has postponed plans for a 144A bond issue, pointing to secondary market conditions.
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Instituto Costarricense de Electricidad is talking to lenders to secure financing for the $1.4 billion Reventazón hydro facility in Limon province, Costa Rica.
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In this week's round-up: Financings, both commercial debt and institutional loans, are washing through the pipeline.
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Montreal-based renewable company Boralex has closed a C$55.3 million ($53.65 million) financing backing its 22 MW Jamie Creek hydro facility near Gold Bridge, B.C.
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In the second installment of this Q&A, Jonathan Lindenberg, head of project finance in the Americas at Bank of Tokyo Mitsubishi-UFJ discusses liquefied natural gas project landscape, prospects for renewables and potential challenges in project finance. Senior Reporter Nicholas Stone sat down with Lindenberg at the bank’s office in New York.
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FirstEnergy Corp. is in the second round of due diligence with buyers interested in its 1,240 MW of hydro assets in PJM.
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TransAlta is planning to raise C$200-250 million ($194-243 million) from the initial public offering of its renewable assets in a yield company called TransAlta Renewables.
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Brazilian conglomerate Odebrecht has closed a $774 million senior secured financing package backing its 406 MW Chaglla hydro facility in Peru.
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The San Diego County Water Authority and the City of San Diego have issued a request for proposals for firms to evaluate the economic and financial requirements for a potential $1 billion, 500 MW hydro facility at the San Vicente Reservoir, Calif.
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Kruger Energy has bought a majority stake in an 8.6 MW hydro project near Waimea Canyon on Kauai in Hawaii that is being developed by Pacific Light and Power and Orenco Hydropower.
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Private equity-backed Union Energy Group has acquired Peruvian project development company Generación Andina from EnBW Energie Baden-Württemberg.
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The recent Idaho Public Utilities Commission ruling that limits small wind and solar projects to 100 kW could pave the way for a surge in hydro activity because the ruling allows projects up to 10 MW.
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Innergex Renewable Energy is extending its C$425 million ($416.37 million) revolving term credit facility with a new five-year tenor ending in 2018 as it looks to finance and develop more than a dozen wind, solar and hydro projects in its pipeline.
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Ralph Cho and Michael Pantelogianis started as co-heads of power in North America at Investec earlier this year after nine years working together at WestLB. Cho and Pantelogianis sat down with Senior Reporter Nicholas Stone to discuss their first few months with the bank, where they are seeing opportunities in the market and what they are looking to achieve.
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LS Power is preparing to launch a refinancing of its $750 million LSP Madison term loan B tomorrow.
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Innergex Renewable Energy has closed a C$72 million ($69.63 million) construction and term loan backing the 17.5 MW Northwest Stave River run-of-river hydro facility in Mission, British Columbia.
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Sumitomo Mitsui Banking Corp. has hired Carl Adams, head of structured finance at Banco Espirito Santo, as managing director and head of Latin America.
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In this week's round-up: Capacity pricing results may stoke M&A in PJM while project financiers are grappling with how to open the market to real estate investment trusts.
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Goldman Sachs is preparing a push into project finance and has hired Jean-Pierre Boudrias, director at Credit Suisse, to head the effort.
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In this week's round-up: Hydro is poised to continue its steady stream of deals while distributed generation solar developers gain traction from companies looking for expansion.
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FirstEnergy Corp. launched the sale of 1,240 MW of merchant hydro assets in PJM.
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Jon Schintler, director of finance at Chicago-based Invenergy, has joined Alterra Power Corp. as director of project finance and mergers & acquisitions.
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French and Japanese banks are increasing their activity in Latin America, as the renewable energy sector in the region becomes a more stable and attractive proposition, said panelists at Euromoney Seminars’ Renewable Energy Finance Forum Latin America and Caribbean in Miami.
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French and Japanese banks are increasing their activity in Latin America, as the renewable energy sector in the region becomes a more stable and attractive proposition, said panelists at Euromoney Seminars’ Renewable Energy Finance Forum Latin America and Caribbean in Miami.
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Hybrid bank/bond structures are being floated for renewable energy projects in Latin America, said panelists at Euromoney Seminars’ Renewable Energy Finance Forum Latin America and Caribbean in Miami.
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José María Figueres, former President of Costa Rica and ceo of sustainable development consultant Carbon War Room, told PI in an interview that he is “very bullish” on renewable energy in Latin America.
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Pan-American Hydro Corp., which is led by Jose Ordoñez, former head of the Latin America power group at Citigroup, is seeking $223 million in debt and equity to develop a pipeline of small-scale hydro projects in Guatemala and Mexico.
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Philip Morris Capital Corp. is looking to exit a sale leaseback agreement on a 192 MW hydro facility on the Mississippi River near Vidalia, La.
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Opportunities abound in the Mexican energy market as investors rediscover one of Latin America’s breakout markets.
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In this week's round-up: Sempra U.S. Gas & Power looks to finance its second phase of Copper Mountain while BrightSource Energy tries to be the first to finance a solar thermal tower without a loan guarantee.
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The Connecticut Department of Energy and Environmental Protection is advocating for policy changes that incentivize hydropower over biomass-fired generation.
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Bill Johnson, the new ceo of the Tennessee Valley Authority, told regional business leaders that renewables might be too expensive to roll-out in great numbers in the southeast until they hit price parity with the gas- and coal-fired generation.
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Innergex Renewable Energy is looking to for roughly $590 million in debt financing for two groups of hydro projects in British Columbia and aims to secure a tenor of construction plus 40 years.
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Harry Clark has spent more than two decades working on government contracting.
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A consortium led by affiliates of Odebrecht and state-backed utility Eletrobras Furnas is weighing issuing bonds backing a 3,150 MW hydro facility in Rondônia, Brazil, according to a deal watcher on the sidelines of Euromoney Seminar’s Latin America Energy & Infrastructure Finance Forum.
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A coalition of industries and activist groups in Minnesota is calling for the state to get 40% of power from renewables by 2030 in addition to an additional 10% from solar.
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A bill that would streamline the licensing requirements with the U.S. Federal Energy Regulatory Commission for hydro projects up to 10 MW is headed to a Senate committee after being passed unanimously by the House of Representatives.
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FirstEnergy is looking to sell a portfolio of unregulated assets, including 1,181 MW of hydro, this year.
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The British Columbia Utilities Commission has approved a project up to $940 million to replace the province’s John Hart hydro facility on the Campbell River.
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We Energies is planning a $64 million project to upgrade its 6 MW Twin Falls hydro facility near Iron Mountain, Mich., which was built in 1912.
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Quebec’s Minister of Natural Resources has cancelled six hydro projects totaling 150 MW in the province because they were uneconomical compared to 1,500 MW La Romaine hydro project underway.
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Ironhouse Sanitary District of Oakley, Calif., is considering signing a power purchase agreement for a 1.1 MW solar project to lower its energy costs at its sewage treatment center.
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Constellation completed a 5.7 MW solar project in Lake County, Ore., that has a power purchase agreement with Portland General Electric.
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The use of coal-fired generation in November showed a 6.2% increase year over year, the such increase since December 2009 against December 2010, according to a report from the U.S. Energy Information Administration.
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A California Senate committee on energy and utilities will meet Monday to determine whether the state should focus on building generation or increasing energy efficiency.
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The Maine Public Utilities Commission approved Statoil’s proposed $120 million, 12 MW offshore wind project about 12 miles off of Boothbay Harbor.
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The Arizona Corporate Commission eliminated tax incentives for commercial-scale solar projects from a proposed Tucson Electric Power plan, saying the utility had already met its commercial renewable energy goals for the next few years.
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In this week's round-up: Three gas-fired assets are primped to be sold while LatAm draws eyes and industry officials in Canada wonder whether the project finance market is deep enough.
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GDF SUEZ Energy North America is said to be considering a partial sale of its FirstLight Hydro Generating Co. subsidiary, which owns 1,341 MW in Connecticut and Massachusetts.
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Pension funds could be a source of capital for hydro utilities in Canada that will need to invest about $20 billion over the next two decades to maintain and improve their grids, according to an industry panel.
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European lenders will likely increase participation in project finance deals due to the Basel Committee on Banking Supervision’s decision to delay and water down Basel III requirements, according to bankers and executives.
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Generation asset merger and acquisition activity this year is expected to be driven by companies looking to exit non-core business areas and private equity funds nearing the end of various funds’ life cycle, says Todd Guenther, managing director at Citigroup.
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Japanese banks took the lion’s share of lead arranger mandates in power and energy project finance deals in the Americas in 2012. The lenders accounted for four of the top 10 slots, for a combined $10.1 billion in deals, according to DeaLogic, a PI sister operation.
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PI had a busy run up to the end of 2012. Mezzanine fundraising and deployment, solar project financing and volatility in North American M&A marked the highlights of our coverage in December.
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In this week's round-up: How the production tax credit extension will impact project finance and M&A; hydro will maintain its presence on the auction block.
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Brookfield Renewable Energy Partners has agreed to buy a Maine hydro portfolio totaling 351 MW from NextEra Energy Resources for $760 million.
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Northeast Utilities is nearing a proposal for a new route for a 1.2 GW transmission line that would carry power generated from the Northern Pass hydro project in Ontario to New England via New Hampshire.
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New York Gov. Andrew Cuomo has set aside a portion of a $250 million state development fund for clean energy projects, including wind, hydro, solar, biomass, under his plan to modernize the state’s energy infrastructure.
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The Republican majority whip of the North Carolina House, Mike Hager, a former Duke Energy engineer who is currently the chairman of the public utilities committee, wants to freeze the state’s green energy mandate at its current level, 3%, and halt plans to reach 12.5% by 2021.
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Project finance deal flow slowed to a trickle in the third quarter and bankers and utility executives gathered at the Edison Electric Institute's Financial Conference in Phoenix to discuss the changing fuel mix and other trends.
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GE Energy Financial Services is nearing a sale of its stakes in wind and hydro assets in British Columbia to a Canadian pension fund.
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In this week's round-up: Several assets ranging from coal-fired plants to solar projects and energy storage flywheel projects have changed hands in bankruptcy court in 2012 ... and the dark days may not be over yet.
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How much power does it take to keep all those twinkly lights on across the nation during the winter holidays?
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Energy Investors Funds and Northbrook Energy have bought two hydro facilities totaling 30.4 MW on the Allegheny River in Pennsylvania.
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Exelon has completed the sale of three coal-fired plants in Maryland to Raven Power Holdings, a portfolio company of Riverstone Holdings.
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A subsidiary of NextEra Energy Resources that owns merchant hydro facilities in Maine may miss an interest payment on its bonds next quarter, according to NextEra’s third quarter financial report.
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With all of the shopping, prepping, cooking and familial mediating that goes in to Thanksgiving, it’s easy to forget about what’s really required for producing that crown jewel of the Thanksgiving table in terms of kilowatt hours.
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Algonquin Power & Utilities is selling a portfolio of small, contracted hydro assets in the Northeast, observers say
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Coal-fired plant shutdowns and resistance to nuclear-fired generation, against a backdrop of cheap natural gas, is pushing the industry toward a gas-heavy generation mix.
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Emera is planning a series of transmission projects totaling $7.4 billion that will link the island of Newfoundland to the Canadian mainland in Labrador and Nova Scotia in a three-part transmission project that will ultimately connect to existing lines in Maine.
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PPL Corp. is selling its hydro and coal-fired subsidiary PPL Montana as it looks to reduce its unregulated operations.
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Free Flow Power, a Boston-based hydropower developer, is proposing adding hydropower generators to four dams near Pittsburgh, Pa., that would produce 100 MW.
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Boralex has wrapped an acquisition of a 22 MW hydro facility in British Columbia from renewables developer Sequoia Energy.
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In this week's round-up: tax equity players hustle toward the end of the year and issuers keep tapping the hot institutional loan market.
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Power companies brought 12.5 GW online between January and September this year, down 2.9 GW from 2011, according to a report from the U.S. Federal Energy Regulatory Commission.
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Innergex Renewable Energy has closed the purchase of the 7.2 MW Brown Lake and 33 MW Miller Creek run-of-river hydro facilities in British Columbia, Canada, from Capital Power.
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Terra Firma is preparing a renewables private equity fund up to $5 billion in conjunction with China Development Bank.
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Fortress Investment Group is trying to corral prospective investors into a planned energy mezzanine fund.
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Alterra Power Corp. is exploring a number of options to secure $40 million in project equity to back an expansion of its 235 MW Toba Montrose hydro plant in British Columbia.
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Inkia Energy has wrapped a roughly $530 million deal backing its 400 MW Cerro del Aguila project in central Peru.
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Developers of hydro, biofuel and solar projects are concerned a plan to reduce pricing in wind power purchase agreements proposed by Idaho utilities will broadly impact renewables in the state.
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Innergex Renewable Energy is circling three separate deals that could add up to seven hydro assets and one wind project in Canada to its roster.
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Southwestern Public Service Co., an Amarillo, Texas-based subsidiary of Xcel Energy, is issuing a request for proposals for 88.7 MW of renewable energy that is not wind or solar.
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The number of assets up for sale in the second quarter, 32, is less than half the number put on the market in the first quarter of the year as the power market faces uncertainty from various angles including political, financial and demand.
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Industry Funds Management subsidiary Essential Power is looking to refinance a 1,721 MW portfolio of plants in PJM and ISO New England with a $665 million senior secured package.
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Babson Capital Management, with $142 billion in assets under management, is launching an energy finance group
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Canadian developer Innergex has closed a C$168.5 million ($165.8 million) construction and term loan with a 39-year tenor for its 49.9 MW Kwoiek Creek hydro project in British Columbia.
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LS Power has closed a $750 million secured term loan that will go toward a one-time dividend and a refinancing of a seven-plant portfolio.
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What has been through a world war, Prohibition, a presidential assassination, the civil rights movement, countless inventions, starred in a Hollywood film and stood sentry over the Little Tennessee River as Neil Armstrong took his first steps on the moon? That would be Alcoa’s--soon to be Brookfield Renewable Energy’s--118 MW Cheoah dam in Graham and Swain counties in North Carolina.
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Pricing is set at roughly 350 basis points over LIBOR for the commercial bank tranche backing Odebrecht’s $1.2 billion, 406 MW Chaglia hydro project in Huánuco, Peru.
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Brookfield Renewable Energy Power has agreed to buy Alcoa’s 351 MW portfolio of hydro assets in Tennessee and North Carolina.
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AES Gener is talking to banks to secure roughly $1 billion of financing for its $1.4 billion, 531 MW Alto Maipo hydro project about 30 miles east of Santiago.
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AES Gener is talking to banks to secure financing for its $1.4 billion, 531 MW Alto Maipo hydro project about 30 miles east of Santiago.
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LS Power and Energy Capital Partners have turned to the institutional market for cash to re-balance capital structures after recent equity-heavy acquisitions.
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Innergex Renewable Energy has agreed to buy two hydropower facilities from Capital Power in British Columbia.
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LS Power is in the market with a $750 million secured term loan that it will use for a one-time dividend and a refinancing of a portfolio of seven plants.
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Final round bids are expected soon for Alcoa’s 351 MW portfolio of hydro assets nestled near the Great Smoky Mountains.
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Goldman Sachs Group will invest $40 billion in renewable energy projects globally over the next decade.
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The U.S. Federal Energy Regulatory Commission has approved a 5.3 MW hydro project in Kauai, Hawaii, although the developer, Konohiki Hydro Power, still needs to negotiate a power purchase agreement.
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DnB NOR and Corporación Financiera de Desarrollo have reportedly joined a $650-670 million financing supporting Odebrecht’s 406 MW Chaglia hydro project in central Peru.
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Boston-based Free Flow Energy has abandoned plans to develop five hydro projects on the Mississippi River.
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The number of generation sales launched across all generation sources dropped 60% from 65 to 26 in the first quarter against the same period last year, according to exclusive data from Power Intelligence’s Generation Sale Database.
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There’s a lot of uncertainty floating around these days and the power project finance and M&A markets are not immune, especially when it comes to activity on Capitol Hill.
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The Bonneville Power Administration has ordered several wind farms in the Northwest to cut production to accommodate a surplus of hydro power.
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Inkia Energy is close to sealing commitments from 12 lenders participating in a roughly $600 million financing backing its $900 million, 500 MW hydro project in Peru, Pablo Eguiluz, project finance manager, said on the sidelines of Euromoney Energy Events’ Renewable Finance Forum – Latin America and Caribbean.
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The Public Utilities Board of Ontario says it does not have enough information to approve a $6.2 billion proposal for a hydro project in Muskrat Falls, Labrador that includes a underwater cable to Newfoundland.
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Capital Power is selling two hydro facilities in British Columbia as it looks to move out of that generation class.
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Alcoa, one of the world’s largest producer of primary and fabricated aluminum, is looking to sell a portfolio of hydro facilities totaling 351 MW in Tennessee and North Carolina as it shuts down operations in the area.
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Southern California Edison is considering issuing a request for offers this fall for several hundred megawatts of renewables generation—potentially 400-700 MW, say project finance attorneys and development advisors.
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Peruvian developer Inkia Energy has priced a $525 million financing backing its $750 million, 400 MW hydro project in Peru above LIBOR plus 300 basis points.
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Developers bidding in to a call for a more than $2 billion hydro project in northeastern Colombia are working with lenders to come up with financing for the project.
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Social concerns are impeding wind project development in Mexico and large hydro projects in Peru and Brazil.
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A new shop wants to help developers raise capital or sell projects via an online platform which will match them with investors.
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The Oregon Bonneville Power Administration has proposed to cover half of the losses incurred by wind farms when the BPA curtailed their output in favor of hydro.
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The market for new assets was in the doldrums during the last months of 2011—little more than two dozen generation facilities hit the market in the fourth quarter, a 60% drop from the same period in the prior year, according to exclusive data from PI’s Generation Sale Database.
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The Ontario Power Authority is evaluating the province’s feed-in tariff program and is considering ways to make the process more efficient.
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Minnesota Power has signed an agreement with Canadian company Manitoba Hydro to purchased 250 MW of power from Manitoba’s generating assets in Winnipeg.
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Compania Energética Veracruz, a Peruvian developer, has put out early feelers to lenders and attorneys in New York about its 730 MW hydro project.
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Inspired by the “gentle swaying of kelp forests”, Sydney-based developer BioPower Systems has unveiled a generation system intended to harness ocean swells to generate power.
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Pacific Hydro is sounding out lenders about funding wind and run-of-river projects in Chile and Brazil next year.
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The Federal Energy Regulatory Commission has ordered the Bonneville Power Administration to rewrite wind rules to address periods when the utility has surpluses of renewables generation.
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In August the South African government launched the first phase of an expected five phase bid process to award PPAs to renewable power projects.
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Peruvian developer Inkia Energy is talking to Banco de Crédito del Peru, Banco Santander and Brazilian lender Banco Itaú about joining a $525 million financing supporting its $750 million, 400 MW hydro project in Cerro del Aguila, Peru.
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ArcLight Capital Partners will scope more midstream investment opportunities for its recently closed $3.3 billion fund and keep power to about half of its commitments, Daniel Revers, managing partner, told PI in an exclusive interview.
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Free Flow Power is planning two hydro projects on the Monongahela River near Morgantown, W.Va.
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Scotia Capital has picked up several loans from BNP Paribas’ project finance portfolio in the Americas.
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Developers of hydro projects under 100 MW are calling for exclusive auctions because of the difficulty scoring power purchase agreements from general auctions hosted by the Brazilian federal government.
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The financing package backing Odebrecht’s $1.25 billion Chaglia hydro project in central Peru is slated to close in February.
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Chip Carstensen, senior director of origination at NordLB, has left the bank for Black Emerald, a start-up shop out of Albany, N.Y., that plans to acquire and develop late-stage renewable projects.
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Korea Electric Power Co. is looking for wind and solar project acquisitions in the U.S. and Canada as a way to meet its domestic renewable portfolio standard.
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Atlantic Power Corp. looked to the bond and equity markets this week to raise funds for its $506.5 million purchase of 1.3 GW of biomass, gas-fired and hydro assets from Capital Power Income LP.
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The Banco Nacional de Desenvolvimento Econônico e Social is considering committing more than $250 million to a $650 million credit backing Brazilian infrastructure giant Odebrecht’s $1.25 billion Chaglia hydro project in Central Peru.
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Peruvian developer Inkia Energy has tapped BBVA, Crédit Agricole, HSBC, Scotia Capital, Société Générale, Sumitomo Mitsui Banking Corp. and WestLB to participate in a financing for its $750 million, 400 MW hydro project in Cerro del Aguila, Peru.
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Brookfield Asset Management is planning to merge its hydro and wind generation assets with Brookfield Renewable Power Fund to establish the publicly traded Brookfield Renewable Energy Partners that will have a $6 billion market cap on the Toronto exchange.
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Finding new financing structures and funding sources as the expiration of federal subsidies looms held center stage with industry officials at the International Project Finance Association’s seminar on renewables in New York on Monday.
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Mississippi Power has launched a request for proposals for renewable projects, including solar, wind, hydro, biomass and landfill gas, that are larger than 500 kW.
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Hong Kong-based ENN Group is planning to invest about $8 billion in U.S. clean energy projects over the next decade.
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The U.S. Army is setting up the Energy Initiatives Office Task Force that could spend up to $7.1 billion on renewable projects that are about 10 MW and located on U.S. military sites.
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Andrew Cuomo, New York’s governor, has signed a bill that will expedite the siting of plants that generate more than 25 megawatts.
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The Obama Administration has set an ambitious goal for clean energy – 80% of U.S. energy should be produced by clean energy resources by 2035.
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Queen Elizabeth is looking to make Windsor Castle a little bit greener this year, and she’s going beyond any emeralds in the family jewel box.
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