Industry Groups / Associations
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Zona Energía's private auction in Chile will benefit from a reform that bans Chile's power distribution companies from selling power to large consumers known as clientes libres or free clients.
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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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Blackstone company Fisterra Energy is pursuing the refinancing of a combined-cycle gas-fired plant in Mexico, which was meant to start operating in December of last year.
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IDB Invest is preparing to lend $1.1 billion to the Chilean power sector, which has been struggling to make ends meet after the implementation of new regulatory measures in the past six months.
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Colombia’s Mines and Energy Planning Unit (UPME) has delayed the procurement process for a transmission line in the country’s Caribbean region for the second time in a month.
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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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Spanish renewables developer Acciona has brought in one financial investor and is looking for another to jointly acquire KKR & Co.'s minority stake in its international generation subsidiary, Acciona Energía Internacional.
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A group of renewable energy companies have written to the Chilean government to warn it that recent policy changes in response to protests and the Covid-19 pandemic threaten to stifle international investment in the sector.
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Colombia's Renewable Energy Association (SER) has requested an extension in the construction timelines of solar and wind parks awarded contracts during Colombia's renewable auction last fall.
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Vienna-headquartered AustrianSolar is moving forward with the development of a 141 MW solar project in Chile.
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Ecuador's state-owned Ecuador Electric Corporation (CELEC) has delayed the tender for a 14.8 MW (DC) solar project with a battery storage unit on the Galapagos islands.
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Atlas Renewable Energy, the Latin American renewables portfolio company of private equity firm Actis, is plotting the development of an 854 MW solar park in Chile.
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Atlas Renewable Energy financed a pair of solar projects in Chile in the U.S. private placement market at the beginning of March, skillfully winning over a skeptical investor community that lacked positive experiences of financing renewables in the country.
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Developers in Mexico have been left waiting for the government to release its private investment plan for energy projects following a delay by the administration.
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Colombia’s Interconexión Eléctrica (ISA) has inked an agreement to acquire a Peruvian transmission company from I Squared Capital.
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Chilean developer Biwo Renewables is plotting the development of a pair of wind farms in the country.
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As the Colombian government prepares to sell Electricaribe back into private ownership, a municipality within its service territory is attempting to take matters into its own hands.
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Spain's Acciona has inked a power purchase agreement with salt producer K+S Chile—its seventh contract with a corporate offtaker in the country.
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Seven companies have presented bids for a transmission project in a procurement process arranged by Panama's state-owned transmission company Empresa de Transmisión Eléctrica (Etesa).
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Austrian solar developer Clean Capital Energy (CCE) is developing an 86 MW project in Chile, the second of the four projects the company is eying in the country.
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Mike Mendelsohn, senior director of capital markets and project finance at the Solar Energy Industry Association, has departed the trade organization.
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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 first person to walk to both the North and South poles is returning to the Antarctic, this time with his progeny—and some solar panels—in tow.
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Cheap debt and the ticking clock strapped to federal tax credits could well bolster wind project development over the next year, said financiers at the American Wind Energy Association’s Wind Energy Finance & Investment Conference 2017 on Oct. 25 and 26.
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Some of the power finance world’s fresher faces gathered at CohnReznick Capital’s offices in New York’s Credit Lyonnais Building on Oct. 12 for Juniors in Energy Finance's inaugural “30 Under 30” presentation event.
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The Brazilian Development Bank has tinkered with the way it accredits solar systems and modules at a national level, in a move that bank and commercial bankers say should prompt more funding flow to smaller renewables companies.
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Solar and Property Assessed Clean Energy (PACE) experts at the IMN Green Investing Conference on Thursday noted that both markets will see more participation as issuance accelerates and the sectors become more sophisticated.
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Paige Wisdom, the former chief enterprise risk officer at Freddie Mac, has joined residential Property Assessed Clean Energy (PACE) lender Renovate America as cfo.
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Hannon Armstrong has issued an $84 million green debt private placement to finance solar and energy efficiency projects in an offering arranged by BlackRock.
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Dayton Power & Light, a utility owned by AES Corp., has committed to sell three coal projects, shutter two others and buy or develop at least 300 MW of wind and solar generation in a settlement with several Ohio entities in relation to its rate case before the Public Utilities Commission of Ohio.
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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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The #PowerTweets feature tracks trends in power project finance and M&A in the Americas on Twitter.
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The future of the U.S. Environmental Protection Agency, the Clean Power Plan and tax credits for renewable generation are all up in the air following Donald Trump's presidential win in the early hours of Wednesday morning.
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Target has knocked Walmart off its perch atop the Solar Energy Industries Association’s ranking of commercial and industrial solar installers, published in the association's annual “Solar Means Business” report.
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Panelists discussed the increasing ownership of wind projects directly by utility companies at the AWEA Wind Energy Finance and Investment Conference at the Westin New York at Times Square on Oct. 5.
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Tax equity investors are paying close attention to a growing risk for wind projects with non-traditional offtake agreements. At issue is the difference between the price of power at the point of injection and the price where the offtake contract is settled.
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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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GE Energy Financial Services is selling a portion of its 49% stake in the 750 MW Towantic combined-cycle gas-fired project in Oxford, Conn., to an infrastructure fund.
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SolarCity is internally restructuring and cutting operational costs, after it revised its growth expectations downward in its second quarter earnings call last week.
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The Rocky Mountain Institute has partnered with a local community organization in upstate New York to issue a request for proposals for at least 16 MW from community solar projects in and around Rochester.
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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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The #PowerTweets feature tracks trends in power project finance and M&A in the Americas on Twitter.
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The trend toward commercial bank financing of solar projects in Chile on a merchant basis may have stalled, as some projects financed in recent years without power purchase agreements enter restructuring.
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Bats are observed more frequently at wind turbines on moonlit nights, looping, diving, hovering and chasing each other. They also visit wind farms more often in low wind speed conditions, according to the latest scientific research.
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Over 4 GW of coal-fired generation in Texas will be retired under the Clean Power Plan, roughly one-quarter of the states’ coal capacity, according to a report published by the Electric Reliability Council of Texas on Friday.
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The causes and consequences of the recent yield company turmoil, the impact of the Clean Power Plan and hopes to resurrect the production tax credit were all topics of conversation at the American Wind Energy Association Wind Energy Finance and Investment Seminar in at the Roosevelt Hotel in New York.
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On Sept. 16, PJM market participants and industry observers from further afield gathered for the PJM Market Summit to discuss the introduction of new capacity performance rules and the evolution of demand response products.
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MidAmerican Energy is acquiring a 250 MW wind project in Iowa from Invenergy.
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The Idaho Public Utilities Commission’s decision to reduce the length of so-called PURPA contracts by 90% will halt renewables development in the region, warns the Solar Energy Industries Association.
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In the second instalment of this feature, Benjamin Israel, a partner at Kaplan, Kirsch & Rockwell, explores the political and market implications of the U.S. Court of Appeals' decision in the case of the Energy & Environment Legal Institute v. Joshua Epel et al.
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Obama has set the first ever federal limits on U.S. power plant carbon emissions in a move that is expected to lead to a deluge of renewables projects.
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Capital Power is planning to issue roughly C$300 million in a senior notes to refinance an existing bond maturing in December 2015, and term out a portion of its drawn credit lines in a volatile Canadian debt market.
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Organización Soriana, which was able to secure a grandfather permit before Mexico's new energy reforms kicked in, has raised $260 million to construct a pair of wind farms totalling 99 MW in Tamaulipas.
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Wind is being used to power the 11-day NCAA Men's College World Series tournament, which begins in Omaha, Neb. on June 13.
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A $900 million debt, which Moxie Energy is hoping to raise, is the latest among several financings that industry observers say areunlikely to close until the delayed PJM capacity auction for delivery year 2018-2019 takes place.
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A SCANA subsidiary is prepping for an RFP aimed at contracting at least 50% of 84 MW in planned solar capacity from utility-scale facilities in South Carolina.
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This week's Industry Current is written by Benjamin L. Israel, a Washington, D.C.-based partner at Kaplan, Kirsch & Rockwell. This feature provides context for what the Tesla Powerwall means for retail consumers and wholesale generation, transmission and distribution.
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Keith Martin, partner at Chadbourne & Parke expounds the framework laid out by the IRS for companies aiming to operate as master limited partnerships.
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Atlantic Power is considering upsizing its seven-year $600 million term loan B to pay down a portion of roughly $316 million in outstanding convertible debentures.
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The San Mateo, Calif.-based pioneer of asset-backed rooftop solar securities continues exploring new financial structures under its latest hire, Marco Krapels, senior v.p. of structured finance and strategy. In the first instalment of this PFR exclusive, Krapels spoke to Senior Reporter Olivia Feld about SolarCity’s expansion plans and asset class growth.
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Solar developer Cypress Creek Renewables has tapped Allan Riska, formerly senior manager in project finance at SunEdison, as director of its project finance group.
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Greg Leveto, formerly a v.p. of hard asset trading at Goldman Sachs, is joining Deutsche Bank AG as a director in the transportation, infrastructure and energy finance group.
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This week’s Industry Current is written by Chadbourne & Parke attorneys David Jiménez Romaro and Javier Félix Muñoz from Mexico City, and Raquel Bierzwinsky from New York. The authors examine the evolving regulatory framework for geothermal exploration and production in Mexico.
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Developers and financiers are actively planning securitizations for portfolios of solar installations, according to panelists at the Information Management Network’s 3rd Annual Sunshine Backed Bonds conference in New York on April 30 and May 1.
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Alliant Energy Corporate Services is inviting bids to contract up to 200 MW of wind projects across Iowa.
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Western Energy Partners is looking to raise debt for its 750 MW Clean Path project near Waterflow, N.M. after it secures a long-term offtake contract.
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With about 800 MW of wind trades grabbing the spotlight this week, this week has seen a spate of M&A activities in the wind space.
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This week’s Industry Current is written by Jake Seligman, associate at Chadbourne & Parke in Washington, D.C. Seligman evaluates the opportunities for municipalities to tap into tax-exempt lease purchases for financing the purchase of U.S. distributed solar projects.
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BlackRock is taking a 90% stake in a pair of wind farms totaling 80 MW in Iowa from wind developer RPM Access.
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More shops are circling yieldco IPOs even as investor appetite for yieldco paper grows against the backdrop of an industry that is moving toward consolidation.
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Hydro-Québec has issued a request for proposals for 500 MW of capacity generation in Québec.
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EDP Renewables has sold a 35.9% stake in a portfolio of wind assets totaling 1,100 MW in the U.S. to a consortium led by Fiera Axium Infrastructure.
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I Squared Capital has clinched a $3 billion fund focused on investments in infrastructure, including power and utilities.
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Vivid snapshots of the Platts 30th Annual Global Power Markets conference from our reporter's desk.
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An Argo Infrastructure Partners subsidiary has bought the Cross Sound Cable from an affiliate of Brookfield Infrastructure Partners.
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Global giants Wal-Mart, Procter & Gamble and General Motors have racked up offtake contracts totaling 140 MW of wind and biomass generation across the Americas.
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Project financiers at Platts’ 30th Annual Global Power Markets are competing for business as lenders continue to surge into power and energy deals in the Americas.
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A pair of PPL Corp. affiliates is in talks with banks to finalize book runners for an issuance of up to $1.05 billion in senior secured first mortgage bonds.
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Transactions backing solar storage could become mainstream in the coming years, according to panelists at Platts' 30th Annual Global Power Markets conference in Las Vegas on April 13.
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LNG export facilities in the U.S. and gas pipeline projects in Mexico will help balance a growing surplus of natural gas in North America, Bentek Energy presenters noted at Platts' 30th Annual Global Power Markets conference in Las Vegas on April 13.
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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 David Burton, partner, and Richard Page, associate at Akin Gump Strauss Hauer & Feld in New York. Burton and Page examine the effects of the New York State budget on solar tax incentives.
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AES Corp. has secured a fixed coupon of 5.5% to refinance its existing debt through $575 million in senior unsecured notes.
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Northwestern Mutual is selling stakes in a 400 MW wind portfolio to an affiliate jointly owned by JPMorgan Capital Corp. and a Hannon Armstrong subsidiary.
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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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Pricing talk has emerged on the $275 million term loan package backing Longview Power, launched by Morgan Stanley and KKR Capital Management last week.
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Duke Energy Progress is buying back 700 MW nuclear and coal-fired stakes from the North Carolina Eastern Municipal Power Agency in exchange for a wholesale contract from the agency.
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Greenleaf Power is acquiring Leidos’ 37.5 MW Plainfield Renewable Energy biomass project in Plainfield, Conn.
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Puerto Rico-based Aspenall Energies has bought the 21 MW Grant County wind project in Minnesota from Olympus Power.
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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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Utilities and operators of U.S. coal-fired generation are planning to shutter hundreds of assets against the backdrop of stringent emissions regulations and heavy plant maintenance costs.
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Google is unveiling airborne wind turbines based on the designs of an avid kite-surfing engineer. The turbines will take flight next month.
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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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Evelyn Lim, partner at Chadbourne & Parke in Los Angeles, is leaving the firm to join TerraForm Power as managing director for North American origination.
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We Energies has scrapped the sale of its 431 MW coal-fired facility in Michigan to Upper Peninsula Power Co.
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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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AES Corp. has sealed its purchase of Boulder, Colo.-based solar developer Main Street Power for $25 million.
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Solar, particularly distributed generation, continues to hold the market’s attention as investors look to get into the game ahead of the investment tax credit plunge in 2017.
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Tenaska's controlling stake in N.J.-based solar developer Soltage is expected to support the latter's deployment of $250M+ into a 125 MW portfolio this year.
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An affiliate of Royal Dutch Shell is in advanced discussions with Gestamp Solar to acquire 280 MW of utility-scale solar assets in California.
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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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First Solar and SunPower have filed with the U.S. Securities and Exchange Commission for a proposed an initial public offering backing their new yield company 8point3 Energy Partners.
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Northland Power is in talks with lenders to arrange more than $1 billion in senior secured loans for two wind farms on either side of the Atlantic.
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Panda Power Funds has raised pricing on its refinancing backing its 758 MW Temple 1 project in Texas to 625 basis points over LIBOR.
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Larry Kellerman, former ceo of Houston-based Quantum Utility Generation, has moved on to his next venture.
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Solar Star Funding, a subsidiary of Berkshire Hathaway Energy, has upsized an issuance of senior secured series B notes by $10 million.
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Larry Kellerman, former ceo of Quantum Utility Generation is poised to grow his new venture, Twenty-First Century Utilities as he looks to wed utilities to the latest technology. In this exclusive, Senior Reporter Olivia Feld spoke to him about his company's plans for acquisitions and his take on the future of the utility model.
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This week’s Industry Current is written by Jake Seligman, associate at Chadbourne & Parke in Washington, D.C. Seligman evaluates investor attraction to community solar projects and offers insights into key opportunities, risks and challenges.
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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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This week’s Industry Current is written by David Burton, partner, and Richard Page, associate, at Akin Gump Strauss Hauer & Feld in New York.
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First Solar and SunPower are in advanced talks to launch a joint yield company.
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Duke Energy Carolinas is soliciting bids to acquire, or contract with, up to 50 MW of solar projects near West Raleigh, N.C.
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Technology companies are providing a bright spot in the perennial hunt for power purchase agreements this month.
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In the second installment of this PFR Exclusive, Andrew Platt, head of project finance Americas at BNP Paribas sits with Senior Reporter Olivia Feld to discuss the bank's take on deal flow in Latin America, and trends in M&A and LNG export facility financing.
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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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Andrew Platt, head of project finance in the Americas for BNP Paribas, sits down with Senior Reporter Olivia Feld to discuss the bank’s structure and strategy in North and South America.
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Developers are increasingly seeking financing for community solar projects.
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Lenders and tax equity investors are increasingly looking to participate in financings backing distributed generation portfolios.
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Financings backing merchant and hedged projects continue to hit the sweet spot for lenders. Debt pricing also surfaced in several panels at Euromoney Seminars’ 10th Annual U.S. Power & Renewables conference held in New York this week.
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Dynegy is nearing the sale of its 2.7 GW portfolio of fuel-oil and natural gas-fired assets in California.
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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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Calpine Corp. has appointed two staffers from EDP Renewables North America as the independent power producer considers growing its renewables activities.
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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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Atlantic Power Corp. has appointed James J. Moore as its ceo. Moore will play a key role in evaluating the Boston-based company’s generation fleet for potential sales, according to a spokeswoman.
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A deal to finance Genesis Power’s $700 million natural gas-fired Keys Energy Center project in Brandywine, Md., could close as soon as next month, according to a deal watcher.
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Institutional investors are increasingly looking to make direct investments in generation and gas-related infrastructure, according to panelists at Infocast’s 7th Annual Projects & Money conference in New Orleans.
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Sponsors, investors and financiers are looking for the next slate of opportunities in gas-fired projects and gas-related infrastructure.
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The proliferation of distributed generation, energy efficiency measures and technologies that enable demand conservation, are putting significant pressure on the traditional utility business model.
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ContourGlobal subsidiary Energia Eolica has issued $204 million in 20-year senior notes in a private placement to refinance Peru’s first wind farms.
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President Obama signed the tax extenders bill into law on Friday, retrospectively extending the production tax credit to the end of 2014.
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The U.S. Senate passed a one-year extension of the production tax credit late on Tuesday. The extension was part of a tax extenders package, which passed 76-16. The tax extenders bill will now move to the President to sign into law.
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The following Industry Current is an edited transcript of a discussion hosted by Chadbourne & Parke focusing on the benefits and disadvantages of the yield company structure.
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The House of Representatives has voted overwhelmingly in favor of a package of tax extensions that includes a one-year renewal of the production tax credit.
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Allete Clean Energy is buying a 108 MW wind project in Iowa from NRG Energy.
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The House of Representatives is set to vote on a package of tax extensions that includes a one-year renewal of the production tax credit this afternoon.
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Energy Investors Funds is planning an initial public offering of a vehicle that will include landfill gas generating assets, according to documents the shop filed with the U.S. Federal Energy Regulatory Commission.
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Wind developers, financiers and attorneys are focusing on Washington D.C. as Congress negotiates an extension of the production tax credit, an incentive that impacts billions of dollars of development projects and deals.
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NRG Yield has agreed to purchase 785 MW of wind and gas-fired assets from parent NRG Energy for $480 million.
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Sales of solar assets boomed in the first half of 2014 and represent the resource with the most growth in number of asset trades over the same period last year.
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Pattern Energy Group Inc. has shaved 100 basis points off commercial bank debt backing its 265 MW Ocotillo wind project in Imperial Valley, Calif.
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Bank of Tokyo Mitsubishi-UFJ has agreed to make a tax equity investment in NextEra Energy Resources’ wind farm in Colorado.
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It was a $7 billion week for power companies in the capital markets. Dynegy launched a multi-tranche $5.1 billion high yield bond sale to pre-fund its acquisition of 12 GW from Duke Energy and Energy Capital Partners.
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Contention over pricing and a lengthy due diligence process for Cape Wind's $1.95 billion deal are causing many bankers to question the feasibility of the commitment deadline at month-end.
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TerraForm Power and SunEdison are buying a portfolio of 30 MW of solar assets from energy retailer Just Energy Group.
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NRG Energy and LS Power are among a wave of sponsors out looking for repricings on project finance deals inked in 2011 and 2012.
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Autumn is a time for pumpkin-flavored everything, breaking out cozy sweaters and fresh starts for Entegra Power Group and Lincoln Renewable Energy.
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A pair of energy efficiency securitization deals is percolating at Citigroup that could hit the market in the next six months.
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The yield company dance card could double its size in 2015 as a variety of shops consider making a run at the public markets.
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The global wind and solar joint venture between Acciona and KKR could hit the public markets in the first quarter.
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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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Developers are preparing to submit bids in the next few weeks for roughly $2 billion of gas pipelines in Texas and Mexico in tenders hosted by the Comisión Federal de Electricidad.
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The debt capital markets were flooded with power and utility paper this week, as issuers sent $1.85 billion in notes to bond buyers.
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Vivint is teeing up its initial public offering that is targeted to raise up to $370.8 million.
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Ares Capital Corp. has back-levered Competitive Power Ventures’ stake in the 725 MW St. Charles project in Waldorf, Md.
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About 7.8 GW of solar projects have applied for permitting before the Comisión Reguladora de Energia in Mexico, representing just more than half of the 15 GW of applications before the Mexican regulator.
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ConEdison Development has agreed to buy a stake in a wind project that Sempra U.S. Gas & Power is building in Nebraska, deepening its renewables partnership with the sponsor.
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Cape Wind has launched a wholesale syndication of a $1.95 billion package backing its 468 MW project off the coast of Cape Cod, Mass.
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Exelon Corp. subsidiary ExGen Texas Power has reverse flexed and downsized a $700 million term loan B it pitched for a dividend recapitalization.
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Tenaska Capital Management’s $1.59 billion refinancing has been floated at LIBOR plus 450-475 basis points.
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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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Solar developers with residential solar pipelines will be looking for tax equity in the next two years at a rate that could squeeze the existing liquidity in the market, according to panelists at IJGlobal’s North America Energy & Infrastructure Financing Forum in New York.
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JPMorgan Capital Corp. and an unidentified co-investor are looking to finalize a tax equity investment in a portfolio of NRG Energy wind farms.
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E.ON Climate & Renewables North America is working with Bank of America Merrill Lynch to sell a portion of its 2.7 GW portfoio of wind assets.
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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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TransCanada and Elecnor have dropped out of a request for proposals to build and own the 310-mile Fort McMurray transmission project in Alberta.
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Don Kyle, senior managing director of GE Capital Markets, and Carl Peterson, head of debt origination at GE EFS sat down with PFR Editor Sara Rosner to discuss the market for structuring and financing gas-fired generation.
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Kristie Pellecchia, director of syndications for Latin America at BNP Paribas, has joined Sumitomo Mitsui Banking Corp.
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Developers, bankers and attorneys are eagerly anticipating billions of dollars of generation and pipeline tenders from Mexican state-backed utility Comision Federal de Electricidad.
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Power industry players circle a bundle of tenders in Mexico and the wind sector regroups stateside after the IRS unveils clarifications to the production tax credit.
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The U.S. Internal Revenue Service and Department of Treasury have issued clarifications on what it means to “begin construction” on a wind project in order to qualify for the production tax credit.
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Mexico continues to roll forward with its landmark energy reforms this week, as the Senate passed a set of provisions that would essentially create a competitive wholesale power market in the country.
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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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Brian Daly, managing director at Babson Capital, has left the firm.
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Renato Plastina has joined newly established asset manager Varagon Capital Partners as head of energy.
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Michael Park, a senior investment officer in the loan guarantee programs office at the U.S. Department of Energy, has joined Noesis Energy in Austin, Texas, as a v.p. of project finance.
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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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AES Corp. has closed a $775 million floating rate note issuance after upsizing the deal from $500 million.
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NextEra Energy Resources has been speaking to lenders stateside about financing its 60 MW Bluewater wind project near the coast of Lake Huron, Ontario.
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Attorneys and wind developers have met with representatives of the U.S. Department of Treasury and the Internal Revenue Service to petition for further clarification on the safe harbors under the production tax credit as the wind industry faces looming operational deadlines and wary tax equity investors and lenders.
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Despite the expiration of the production tax credit, wind is set to have a solid year of project financings, according to Kevin Walsh, managing director and group head of power and renewables at GE EFS.
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Abundant sources of capital are driving down prices, noted panelists at Platts’ 29th Annual Global Power Markets conference at the Wynn Las Vegas in Las Vegas, Nev., April 8.
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NRG Yield is set to buy the El Segundo combined cycle facility in California from NRG Energy, the first of four possible deals between the two this year.
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Following the close of the Woodbridge financing, Competitive Power Ventures is looking to tighten the pricing on the bank loan backing the 725 MW St. Charles in Charles County, Md.
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Renato Plastina, managing director of energy, infrastructure and project finance at BNP Paribas, has left the bank to take a position at an unidentified institutional investor.
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Sempra U.S. Gas & Power is expected to wrap next month a roughly $250 million debt package backing the 156 MW Energía Sierra Juárez wind project in La Rumorosa, Baja California, Mexico.
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The proliferation of project bonds is set to continue in Latin America as financiers and sponsors work to optimize deal structures, according to panelists at Euromoney’s 8th Annual Latin American Energy & Infrastructure Finance Forum at the Biltmore Hotel in Miami on March 11.
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Developer Canadian Solar has secured a C$48 million ($43.67 million) construction and term loan from Manulife Financial backing the 14 MW Val Caron solar project in Val Caron, Ontario.
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Check out Power Finance & Risk's special report focusing on the burgeoning LNG export industry in the U.S. and the latest opportunities in development and financing.
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Bank, bond and institutional markets are open for power project financings, according to panelists at the Canadian Power Finance Conference in Toronto Jan. 28.
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Utilities are looking at rooftop solar programs and initiatives largely because of customer demand.
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NextEra Energy Resources has closed a C$315.462 million ($296 million) refinancing of the 147 MW Trillium wind portfolio in Ontario via a 20-year bond issuance.
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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 the lifeco’s strategy for choosing deals, pricing and the Canadian landscape of project finance lenders in the second and final installment of this Q&A.
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Tax equity investment is growing, fueled largely by an increase in opportunities in the rooftop and distributed solar space, said panelists at Infocast’s 6th annual Projects & Money conference at Harrah’s New Orleans on Jan. 15.
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Richard Randall, managing director and head of project finance and independent power producer coverage at Royal Bank of Scotland, has left to join Industry Funds Management.
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In this week’s round-up: Several sponsor wrap project financings and a pair of solar securitizations is on the horizon.
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In a sector packed with project finance and M&A giants from Europe and Wall Street, Marathon Capital stands out as an independent advisory shop that continues to net business with power industry heavyweights.
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Queries regarding wind projects’ qualification for the production tax credit and the PTC’s potential extension are stymieing investments in the sector, according to panelists at the American Wind Energy Association’s wind energy finance and investment seminar at the Conrad Hotel in New York on Sept. 9-10.
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In a rare interview, Michael Polsky, founder of Chicago wind shop Invenergy, and Jim Murphy, coo and cfo, sat down with PFR Executive Editor Peter Thompson to discuss a range of issues including debt structures, lender relationships, the prospects for solar and wind and why an IPO is not in the cards.
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Colombian state-owned transmission company ISA has tapped BBVA as advisor for the financing of its approximately $1 billion transmission line project in Chile.
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Panda Power Funds is nearing a first close on its up to $1 billion second power investment fund, with the company’s pipeline of shovel-ready projects reportedly drawing interest.
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Radback Energy has reignited a search for around $800 million in financing backing its 586 MW Oakley gas-fired facility in Contra Costa County, Calif.
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European and U.S. investment banks have continued to move up the North America project and energy finance league table ladder in the second quarter as they snag mandates in the booming B loan market.
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Comisión Federal de Electricidad nixed plans for a 10-year fixed-rate note issuance and opted for MXP12 billion ($923 million) of five-year floating rate notes after credit markets were rocked by rising U.S. Treasury rates last week.
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Renewable project financing options beyond the expiration of the production and investment tax credits was the focus at Euromoney Energy Events Renewable Energy Finance Forum Wall Street at the Waldorf Astoria in New York this week.
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Mexico is expected to detail energy infrastructure plans and if it does industry watchers are predicting a strong flow of power and energy projects, according to panelists at Euromoney’s Mexican Energy and Infrastructure Finance Forum at the JW Marriott in Mexico City on June 25.
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LS Power is trying to sell a 20 MW solar development project in California.
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Samsung Renewable Energy has scaled back its investment in renewable energy development in Ontario to C$5 billion ($4.74 billion) from a planned C$7 billion ($6.64 billion).
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While most bankers may be aware of Energy Investors Funds' Pio Pico plant because of the financing opportunity, they’re probably missing its significance, though indirect, in endocrinological history.
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The U.S. Department of Energy signaled that it would proceed cautiously before approving any more applications to export U.S.-produced liquefied natural gas after granting only the sec¬ond export license in May.
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Needham, Mass.-based Energy Investors Funds is looking to do a private placement backing its 300 MW Pio Pico gas-fired plant in San Diego County, Calif., via Société Générale before year-end.
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Nearly 100 active borrowers, asset acquirers and sellers, lenders, attorneys and advisors voted in our new and expanded awards process.
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Financing the massive transition of the U.S. military to renewable energy resources presents a tremendous opportunity, coupled with significant challenges, to developers, lenders, and investors in renewable energy power projects serving the military.
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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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The Los Angeles Department of Water and Power has issued a request for proposals for 200 MW of utility scale solar to be built at a formerly NextEra-owned site in Kern County in the Mojave Desert, Calif.
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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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Xcel Energy subsidiary Northern States Power Co. has issued $400 million, 10-year 2.6% first mortgage bonds, continuing the move by utilities looking to tap low rates.
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Institutional demand for Energy Capital Partners’ $610 million term loan has allowed the private equity shop to upsize the loan and reprice existing debt.
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A subsidiary of U.S. Bancorp is planning to take both equity and tax equity stakes in an EDF Renewable Energy wind farm in Minnesota that went online in 2009.
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Financiers and attorneys are weighing real estate investment trust structures that would open up the asset class, and its large pool of investors, to renewable generation without tripping up the U.S. Internal Revenue Service’s definitions of what types of property qualify for REIT investment.
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Canadian banks are targeting renewable energy projects for bond financings in the country.
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The government of Québec has issued a request for proposals for 800 MW of wind generation.
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Loans to power projects in the U.S. are becoming increasingly “covenant-lite” as investors and lenders emphasize yield over risk, according to a report released by Moody’s Investors Service last week.
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Financiers and sponsors are trying to figure out how to develop a solar securitization structure that appeases tax equity investors concerns’ regarding subordination.
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The smaller size and relative inexperience of development companies in Latin America will pave the way for larger more experienced multinationals to buy up local companies, said panelists at Euromoney Seminars’ Renewable Energy Finance Forum Latin America and Caribbean in Miami on May 1.
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Solar projects in Mexico will need more equity investments to push them forward, said panelists at Euromoney Seminars’ Renewable Energy Finance Forum-Latin America and Caribbean at the Four Seasons Hotel in Miami on Monday.
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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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Starwood Energy and Fiera Axium Infrastructure are rounding up roughly $140 million in debt on a 35 MW solar project that they are developing in Ontario.
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BrightSource Energy is looking for equity investment at the corporate level.
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European lenders took the bulk of top mandated lead arranger slots in power and energy project finance deals in North America, netting $1.3 billion, or roughly 40%, of the $3.21 billion in deals done in the first quarter of this year.
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Renewable energy projects traditionally attract financing only after securing a long-term contract to sell the electricity to a creditworthy offtaker at a relatively fixed price. The project development is hard enough, but in today’s market, finding a power contract is becoming exceedingly difficult.
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The U.S. Internal Revenue Service has released the criteria clarifying what beginning of construction means for a facility looking to qualify for the production tax credit under its latest extension.
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Federal subsidies are reshaping deals this year, as the power industry copes with the expiration of the U.S. Department of Treasury’s cash grant program and a decreasing confidence in the long-term viability of the production tax credit, Mike Lorusso, managing director and group head of CIT Energy in New York, told PI in an exclusive interview.
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The arrival of plentiful and cheap natural gas in the U.S. has changed the game in the power sector and the ramifications were a constant topic throughout Platts Global Power Markets Conference in Las Vegas last week.
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The unseasonably chilly Las Vegas weather put a dampener on golf rounds ahead of the formal start of the conference.
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Topaz Solar Farms is issuing $250 million of 144A bonds to finance its 550 MW Topaz solar facility, bringing total debt on the project to $1.1 billion instead of its planned $1.3 billion
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GE affiliate GE Energy Financial Services has agreed to purchase a 51% stake in Enel Green Power North America’s 250 MW Buffalo Dunes wind farm for roughly $40 million.
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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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The rate of generation assets finding new owners in the final quarter of 2012 was up versus activity in both the third quarter and the same period in 2011.
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This week’s Industry Current is written by Kerin Cantwell and Miles Killingsworth, partner and associate, respectively, at Akin Gump Strauss Hauer & Feld’s global project finance practice in Los Angeles and George “Chip” Cannon, Jr., partner at the firm’s energy regulatory practice in Washington D.C.
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Cape Wind has mandated Bank of Tokyo-Mitsubishi UFJ to lead financing for its $2.6 billion project, Jim Gordon, ceo, told attendees at Euromoney’s 8th Annual U.S. Power & Renewable Finance Conference in New York today.
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This week’s Industry Current is the transcript of a panel of industry officials focused on the U.S. Army’s solicitation for renewable projects.
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This week’s Industry Current is written by Paul Kaufman, partner in corporate and project finance at Chadbourne & Parke in Los Angeles.
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Private equity funds and pension trusts that are unable to use the large tax subsidies on U.S. wind farms may have an opportu¬nity shortly to acquire operating projects.
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More natural gas-fired, nuclear and biomass generation opportunities could result from increased coal-fired retirements in the U.S., according to panelists at Infocast’s 5th Annual Projects & Money conference executive briefing in New Orleans.
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BluEarth Renewables, a Calgary-based independent renewable power producer, is talking to lenders for financing backing its 60 MW Bow Lake wind farm in Algoma district, Ontario.
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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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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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Andrew Redinger is managing director and group head of utility, power and renewable energy at KeyBanc Capital Markets. He sat down with Sara Rosner, PI’s managing editor, to discuss the lender’s strategy and what lies ahead for power project finance and M&A in North America.
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The U.S. Congress included an extension to the production tax credit as part of the package passed by lawmakers looking to avoid the fiscal cliff.
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Election jitters and the low power demand picture made for a thin flow of M&A auctions in the third quarter, with just 31 new assets hitting the market in the quarter and 43 sold. That’s against 40 put up for sale and 36 sold in the same period in 2011, according to exclusive data from Power Intelligence’s Generation Sale Database.
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In addition to aggressively lobbying to extend the production tax credit, the American Wind Energy Association has apparently been busy designing a line of apparel and accessories that would suit even the most fashion forward wind developer for its online store.
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Clarity on government incentives and international cooperation on financings would help alleviate some of the issues faced by financiers of renewable energy projects, according to the International Energy Agency.
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LS Power is looking for roughly $300 million in financing for a pair of gas-fired plants it is developing in PJM.
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A unit of Ontario Municipal Employees Retirement System is taking a 49% stake in the class A shares in a portfolio of three operating wind farms developed by EDP Renewables North America for $230 million.
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BHP Billiton has short-listed three bidders for a request for proposals for a plant that will power its Escondida copper mine southeast of Antofagasta, Chile.
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First Wind is considering developing a wind project in Bingham, Maine, that could include up to 60 turbines.
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Siemens has finalized a contract to supply turbines to Pattern Energy’s 265 MW Ocotillo wind project in Southern California.
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Residents of Tuscola County, Mich., protested a wind project proposed by Invenergy in an open house on Monday.
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The Union of Concerned Scientists says utilities could retire more than 300 U.S. coal-fired plants as the cost of installing pollution control equipment would make the assets less competitive with wind and natural gas-fired generation.
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The U.S. Bureau of Land Management has released an environmental impact statement on the enXco’s proposed Desert Harvest solar project.
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Puget Energy is talking with lenders about lining up two new credit facilities.
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Iberdrola will try to reduce debt and sell off non-core assets as it retrenches to deal with a credit downgrade and persistent uncertainty about the Spain’s economy.
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Utilities are expected to continue to cash in on low—in many cases, record low—rates in the bond market.
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Bankers were not allowed into the open company visits at the EEI Financial Conference in Phoenix, Ariz.
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A lack of uniform standards for commercial solar installations is the main obstacle to structuring the market’s first securitization of solar panel revenues, says Paul Detering, ceo of Tioga Energy.
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Financiers are looking for ways to increase the role of commercial lenders in project finance deals in Brazil, a market that has traditionally been dominated by Banco Nacional De Desenvolvimiento Econômico e Social.
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Antrim, an affiliate of Boston-based State Street Corp., is making a tax equity investment in two wind farms in Colorado developed by NextEra Energy Resources.
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In this week’s Industry Current the authors take a look at President Barack Obama’s order requiring a Chinese company to sell its stakes in four wind projects in Oregon and its potential implications for other projects.
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Renewable developers waiting to make a move toward an initial public offering should begin preparing even when the markets are not ideal, bankers said at Euromoney’s Renewable Energy Financing Forum-West in San Francisco.
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Quantum Utility Generation is talking to lenders about financing development assets and potential acquisitions before year-end.
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A slowing market in the U.S. has sent developers scurrying into Mexico, Brazil, Chile, Peru and Puerto Rico, among other locations. In the first installment of this Industry Current, investors and developers share experiences in Latin America and discuss the economics, potential and challenges of the market.
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Municipal utilities and co-ops are hunting 30-40 MW stakes in wind projects as they look to balance for generation portfolios.
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Texas is standing out in the U.S. power market as investors and financiers look to back projects aimed at tapping into rising ERCOT power prices, at a time when other markets are slumbering.
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The U.S. Senate Finance Committee agreed to renew the tax credit for wind power for another year with a 19-5 bipartisan vote, adding a cost of $3.3 billion.
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Exelon Corp., the nation’s largest owners of nuclear power plants and one of the top wind power owners, is lobbying against the U.S. Senate Finance Committee’s plan to extend the tax subsidy another year.
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AWS Truepower and Aires Renewables have teamed up to provide renewable energy consulting in Argentina, Chile, and Uruguay.
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ABB LTb received a $55 million order from the Brazilian utility Eólicas do Sul, for supplies for three substations and transmission infrastructure for its wind projects.
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The House Energy and Commerce Subcommittee on Energy and Power has approved a bill that would curtail lending under the U.S. Department of Energy’s loan guarantee program and affect billions of dollars of existing and future guarantees.
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Public Service Electric & Gas has proposed to add 136 MW of solar over the next five years, and will proved loans to commercial and residential customers to develop an additional 97 MW.
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Wal-Mart has opened its 100th store in California with solar installed on the roof, continuing its efforts to reach the company’s goal of having its stores supplied with 100% renewables.
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The Joseph M. Farley nuclear plant in new Dothan, Alaska has now been put back online after repairing a cooling valve.
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Arkansas Electric Cooperative Corp.’s planned acquisition of a combined cycle plant in Arkansas from GDF Suez Energy North America has moved closer to finalization.
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The U.S Commerce Department placed new tariffs on Chinese wind turbine towers after complaints from the Wind Tower Trade Coalition claiming anticompetitive behavior.
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Environmental groups in Montana have filed to sue owners of the Colstrip coal-fired plant for not updating pollution controls when the facility was shut-down to undergo changes.
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GE announced it would supply eight 2.75 MW wind turbines to power public lighting in Santa Catarina, Nuevo Leon.
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New Mexico’s Solar Energy Zone in Don~a Ana County could produce 3,000 MW of solar, comprising more than half of the state’s generation portfolio.
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Standard & Poor lowered Duke Energy’s rating on Wednesday citing the utility’s lack of transparency since the merger as the cause.
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Ocean Renewable Power Company will install the U.S.’s first tidal energy turbine next month.
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The U.S. Department of the Interior announced the “All Of The Above” program that will set aside 285,000 acres of western public land for solar projects.
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Gen 110, an independent distributed energy provider in California, has exceeded 10 MW of residential solar power in 11 regions across the state.
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The federal government will be auctioning off Atlantic Ocean offshore wind rights to developers.
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Biomass plants generate 11% of alternative energy production, but out of the 107 biomass plants operating in the U.S. 85 have been cited for emissions violations in the past five years.
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Natural gas prices rose Monday to $3.117 per million Btu after summer temperatures reach all time highs.
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Biomass plants generate 11% of alternative energy production, but out of the 107 biomass plants operating in the U.S. 85 have been cited for emissions violations in the past five years.
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Natural gas prices rose Monday to $3.117 per million Btu after summer temperatures reach all time highs.
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The federal government will be auctioning off Atlantic Ocean offshore wind rights to developers.
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The U.S Environmental Protection Agency will review its mercury, soot and other emission standards for new coal-burning power plants.
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The Duke Energy merger investigation will continue with North Carolina utility regulators requiring requested documents to be with the commission by month-end.
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Bill Johnson, former ceo of combined Duke Energy, testified before North Carolina regulators Thursday stating during the merger process between Duke and Progress Jim Rogers wanted to renegotiate contracts but that would lead to a $675 million break-up fee.
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West Virginia’s Department of Environmental Protections has installed a 25 kW solar photovoltaic system, and a solar thermal system to heat water in the building on the roof of its offices using federal stimulus money to pay for the projects.
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The 1.35 GW Angra III nuclear plant in Brazil will not make its planned December 2015 completion. The target is now July 2016 because of a stall in the bidding round of two $1 billion contracts for installation for equipment, according to BNamericas.
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The Martin Drake coal-fired plant, outside Colorado Springs, Colo., has been the subject of a debate on whether to close down to 87 year old 256 MW plant, but the City Council decided to install new pollution equipment instead.
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The U.S. Energy Department’s Office of Energy Efficiency and Renewable Energy invested $2.6 million to partner with Texas Tech University and Sandia National Laboratories to study how wind turbines interact with one another and how to make wind power more efficient.
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Demand for power in the Midwest hit 98,300 MW Tuesday, close to the all time high of 98,526 MW set in July 2011.
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E.CL, a Chilean utility, placed a $36.6 million air pollution control order with Fuel Tech to modernize six coal-fired units.
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The North Carolina Utilities Commission is expected to bring in outside expertise to help with the Duke Energy merger case.
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Troutdale Energy Center has submitted a bid to Portland General Electric to provide power from a $680 million natural-gas-fired plant in Troutdale, Ore.
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The U.S. Army has hired SolarCity to cover 850 military homes on Los Angeles Air Force Base and two bases in Colorado Springs to total 18,000 panels generating 6.4 million kilowatt hours of electricity annually
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Utilities in Idaho are looking to rework qualifying facility PPAs—a move that could slash revenues from hundreds of megawatts of contracted wind projects, leaving the facilities unable to service debt.
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Invenergy Wind’s 200 MW Bishop Hill Wind Energy farm in Henry County, Ill., began commercial operations featuring 133 GE turbines on 22,000 acres of farm land.
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Wind projects are racing to complete projects before the December 31 tax credit expiration, that if not renewed could drop new wind capacity as much as 93% next year according to American Wind Energy Association.
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According to Brazil’s EPE, the research arm of the Ministry of Mines and Energy in Brazil, distributed rooftop solar power is competitive with traditional power sources.
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DTE Energy plans to close its coal-fired Harbor Beach Power Plant on Lake Huron at the tip of Michigan’s thumb region due to increase in emission standards
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The University of Tennessee unveiled a solar-powered sustainability structure developed by Solar Secure with no utility grid hookup.
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Juwi Wind began construction of a partially community-owned 30 MW Community Wind South farm, which is scheduled for completion in October.
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In this week’s Industry Current, several solar company executives shared lessons learned from closing recent financings in a roundtable organized and moderated by Keith Martin partner at Chadbourne & Parke in Washington, D.C.
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The Wisconsin Public Utilities Commission approved Wisconsin Power & Light’s plan to build a 200 MW wind farm in southern Minnesota despite The Citizens Utility Board and Wisconsin Industrial Energy Groups opposition.
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Banco Nacional de Desenvolvimento Economico e Social has frozen financing for turbines claiming equipment companies are not meeting the requirement for 40% of components to come from Brazilian suppliers.
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After power outages that left 911 emergency systems offline for three days in Fairfax County, Va., council members in both Virginia and Maryland purposed two bills to force Pepco to switch from above ground power lines to underground power lines.
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A joint venture between GE, Spanish firm Duro Felguera S.A, and Argentinean firm Fainser were rewarded a turnkey contract for Vuelta de Obilogado 800 MW combined-cycle power plant to be built on the same site as General San Martin Plant.
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The U.S. Environmental Protection Agency has asked the Illinois Environmental Protection Agency to review an air pollution permit it gave Tenaska in April for a purposed coal-to-gas plant near Springfield, Ill.
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Valos Solar Ventures and Gehrlicher Solar America Corp. are teaming up to develop 235 MW of solar projects for Pacific Gas & Electric, Southern California Edison, San Diego Gas & Electric and municipal utilities.
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Southern Co. subsidiary Mississippi Power is appealing a denial by the state supreme court in June for a $55 million six-month rate increase linked to its 582 MW Kemper County Plant that is under construction.
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8minutenergy signed generation interconnection agreement with California Independent Systems Operator Corp. and San Diego Gas & Electric to provide 200 MW of solar PV power.
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The International Energy Agency conducted a Medium-Term Renewable Energy Market Report that predicts renewable power generation worldwide will grow by more than 40% in the next five years.
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Acciona’s Windpower generator-assembly plant in Iowa is on its last U.S order due to the production tax credit expiry set for December.
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Duke Energy Carolinas has withdrawn a request for proposals for up to 300 MW of wind projects and renewable energy credits after receiving minimal interest.
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A bevy of renewable assets went on the block in June and project finance players are buzzing about the next generation of funding options.
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Georgia Power and Solar Design & Development collaborated to develop a series of solar projects around the state totaling 19 MW, more than doubling the states solar production.
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Gas-fired plants produced the same amount of generation as coal in April for the first time in the U.S.
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New Jersey Governor Chris Christie plans to sign a bill this week that will jump start solar projects and prevent job loss in the industry.
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NextEra Energy’s proposed 750 megawatt McCoy solar project outside the city of Blythe, Calif., is receiving mixed reviews from the locals worrying about environmental effects.
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A three-judge panel on a federal appeals court ruled unanimously in favor of the U.S. Environmental Protection Agency’s emission regulations, stating that the EPA is allowed to regulate greenhouse gases under the Clean Air Act.
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An initiative to increase the renewable portfolio standard to 25% from by 2025 from 10% by 2015 in Michigan is facing opposition due to the estimated corresponding $10 million increase in utility bills.
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New Energy Technologies Inc., based in Maryland, has enhanced its transparent solar cell system including higher speed, lower cost, and greater durability.
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The hunt is on for the next generation of project financing options, including master limited partnerships, real estate investment trusts, project bonds and securitizations, according to executive and financiers at the 9th annual REFF-Wall Street conference in New York last week.
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The Cleaner Valley Coalition is asking We Energies to either install pollution controls or switch the Valley plant, near the High Rise Bridge in Milwaukee, to natural gas.
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Steve Wright, ceo of Bonneville Power Administration, will retire at the end of January from the federal power distributor that is based in Portland, Ore.
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The U.S. Natural Resources Defense Council condemned AEP, Ameren, DTE Energy, Energy Future Holdings, FirstEnergy, GenOn, PPL, and Southern Co., for spending a combined $67 million since 2010 for lobbying against stricter pollution regulations in the Clean Air Act.
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The U.S. Senate blocked a bill proposed by Sen. James Inhofe, R-Okla., that would have overturned the U.S. Environmental Protection Agency regulations to reduce greenhouse gas emissions from coal-fired plants.
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The Duke Energy merger with Progress Energy will have a hearing on Monday in which North Carolina advocacy group Waste Awareness and Reduction Network will cross-examine two officials over changes to the merger agreement since the fall.
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Demand for solar panels in the U.S. is expected to double this year, with 3.3 GW of panels being installed, according to a study from the Solar Energy Industries Association and GTM Research.
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Roughly 506 MW of solar was installed in the U.S. in Q1 representing an 85% boost over the same period last year, according to the Solar Energy Industry Association.
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Coal-fired generation in the U.S. is forecast to account for only 40% of the country’s electricity, the lowest portion since 1949.
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California’s Department of Water Resources will not be renewing its contract to buy power from NV Energy’s Reid Gardner coal-fired plant, as the agency looks to reduce greenhouse gas emissions.
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The Utah Associated Municipal Power Systems made its final mortgage payment on its 14.6% stake in the 390 MW Hunter II coal-fired plant in Emery County, paying down $66 million in bonds four years early.
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Only 58% of utility executives see a future in coal-fired generation, down from the 81.5% who said the same in 2011, according to a survey conducted by Black & Veatch.
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The Solar Electric Power Association recognized Tuscan Electric Power with the 2012 Investor Owned Utility of the Year.
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U.S. generating capacity could fall 4.4% to 16% on a summer day between 2031 and 2060 due to global warming and its subsequent effect on water temperatures, according to a recent study in the Nature Climate Change Journal.
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American Electric Power’s Kentucky utility has withdrawn its request to spend $940 million on environmental equipment for its 800MW Big Sandy 2 coal-fired unit.
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Pacific Gas & Electric remains the country’s biggest solar generating utility, while New Jersey’s Public Service Electric & Gas provides the most solar power per customer, according to the Solar Electric Power Association.
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A proposed underwater transmission line off the Atlantic coast has received approval from the U.S. Bureau of Ocean Energy Management and the Department of the Interior.
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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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Duke Energy CEO Jim Rogers believes that U.S. utilities companies are relying too heavily on natural gas to meet generating needs, endangering the nation’s energy security.
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A coterie of overseas sponsors and manufacturers are targeting project pipelines in Latin America, driven in part by renewable portfolio standards and new auctions for power purchase agreements, said attendees at Euromoney Energy Events’ Renewable Energy Finance Forum – Latin America & Caribbean in Miami.
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PPL Montana is suing the U.S. Environmental Protection Agency to prevent it from releasing information about its Colstrip coal-fired plant to environmental groups.
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The chief nuclear officer for Southern California Edison has said that he expects the San Onofre nuclear facility to reopen soon.
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NV Energy has abandoned plans for a wind project in Idaho due to concerns for an endangered bird species threatened by construction.
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German wind turbine manufacturer Fuhrlander AG has canceled plans to build a turbine factory in Butte, Mont.
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General Electric is looking for $6 billion in renewables contracts in Australia by 2020.
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Regulators in Arizona have approved Arizona Public Service’s purchased of a stake in Southern California Edison’s coal-fired plant in New Mexico.
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DTE Energy is planning to build a 110 MW wind farm in Huron County, Mich.
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The Shaw Group and Westinghouse have received approval from South Carolina Electric & Gas to go forward with engineering and construction for SCE&G’s proposed nuclear project.
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A settlement agreement between Black Hills Energy and the utilities’ customers has been rejected by the Colorado Public Utilities Commission.
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Brazil is considering putting measures in place that could boost solar panel sales by $3 billion in coming years.
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Groups opposed to a nuclear facility proposed by Southern Co. are asking a court of appeals to block the license to go forward with the project.
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California-based SunEdison has completed a 25 MW solar project in Gujarat, India.
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Canada is on track to install a total of 1,500 MW of new wind generating capacity in 2012.
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California legislators are considering a bill that would allow utilities companies to count hydro toward their renewable energy requirements.
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Colorado utility Tri-State Generation and Transmission Association has filed a lawsuit in federal court to appeal the U.S. Environmental Protection Agency’s new emissions standards.
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Canadian wind developer SouthPoint Wind has filed a C$1 billion ($1.01 billion) lawsuit against the Ontario government for its moratorium on offshore wind development.
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Canadian Solar will purchase a majority stake in 16 solar projects from SkyPower.
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Pattern Energy has reached a settlement agreement for the construction of its 150 MW Spring Valley wind project in Nevada.
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A Vermont-based nonprofit organization is suing Green Mountain National Forest over plans to construct a wind project in the area.
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American Electric Power is planning to upgrade its Cook nuclear facility in Michigan.
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Wind generation is set to double in the next four years, as emerging markets increase investments in renewables and U.S. investment declines.
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M&A players are re-calibrating their approach to wind projects as the uncertainty over whether the production tax credits will be extended rattles the industry.
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Massachusetts has launched a program aimed at increasing solar development in the state.
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Georgia utility Cobb EMC has agreed to buy power from the state’s largest solar project.
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Regulators in West Virginia have ordered FirstEnergy Corp. to continue operating three coal-fired plants the company was planning to retire.
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Lenders wrapped at least $3.54 billion in project financings in the first quarter, more than five times as much as the $745 million seen in the same period of 2011, according to PI’s Project Finance Deal Book.
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Dozens of bankers and investors jammed a theater in the basement of the Crosby Street Hotel in New York’s SoHo district on Wednesday for a screening of “Cape Spin,” the documentary that chronicles the plight of the proposed 468 MW Cape Wind project in Nantucket Sound.
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Energy development has been stalled in Maryland, as legislators have pulled support for bills targeting offshore wind development and gas exploration through hydraulic fracturing.
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China is beginning to close the gap with the U.S. for renewable energy investments, according to a report from research group Pew Charitable Trusts.
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The expiration of the U.S. Department of Treasury’s production tax credit for wind projects is halting project development beyond this year, according to industry officials at the American Wind Energy Association’s Finance & Investment Seminar in New York on Thursday.
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Demand for solar power in Pennsylvania has sapped the state’s $100 million PA Sunshine Solar program of funds.
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The natural gas boom in the U.S. is beginning to worry utilities companies as prices are falling to new lows throughout the country.
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Northeast Utilities and NStar have closed on the merger of the two companies after 18 months of regulatory review.
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New Jersey-based Fisherman’s Energy is looking for more time to file a revised application to build a wind farm in the waters off Atlantic City, N.J.
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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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New York City has increased its solar capacity with the installation of solar panels on several city-owned buildings.
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Solar developer National Solar Power Partners has closed an agreement with manufacturer SolarWorld to acquire panels for several projects in Florida.
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The Public Service Commission of Wisconsin has approved Wisconsin Power & Light’s purchase of a gas-fired facility.
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A proposed offshore wind energy bill has failed to pass in the Maryland General Assembly.
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The U.S. Nuclear Regulatory Commission has fined NextEra Energy for failure to maintain emergency service facilities at the company’s nuclear plant near Homestead, Fla.
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Zoning officials in Nobles County, Minn. have approved the next phases of a proposed 30 MW wind project.
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The Maine Land Use Regulation Commission has rejected a proposal from First Wind to build a wind farm near Springfield, Maine.
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The U.S. Nuclear Regulatory Commission has approved a license extension for the 1,150 MW Columbia nuclear station near Richland, Wash.
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The Massachusetts Department of Public Utilities has approved the merger of Northeast Utilities and NStar.
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A round-up of notable outtakes from Platts 27th Global Power Markets conference April 1-3 in Las Vegas.
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The board of supervisors in Imperial County, Calif. has approved three solar projects proposed by 8 Minute Energy Renewables.
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Silverado Power has signed power purchase agreements with San Diego Gas & Electric for 15 MW of solar generation.
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Canadian developer SouthPoint Wind has filed a C$1 billion ($1.3 billion) lawsuit against the Canadian government over a moratorium placed on offshore wind development.
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The Arizona Public Service Co. has reached an agreement with the Arizona State Land Department on the development of a 35 MW solar project near Yuma.
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Oakland, Calif.-based Solar Trust of America has filed for bankruptcy.
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Wind industry revenue is set to increase 7.6% in 2012, or $4.3 billion, according to an industry report from IBISWorld.
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SolarReserve has received environmental approval for a 200 MW solar project in Nevada.
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Progress Energy is likely to face increased scrutiny from the U.S. Nuclear Regulatory Commission as it moves forward with plans to build nuclear reactors in Florida.
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The New York Power Authority is planning a $30 million solar energy initiative aimed at bringing down the cost of solar generation.
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A research report from the University of Vermont has claimed that the safety measures needed for nuclear power will eventually render the source unsustainable.
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Canadian company Finavera Wind has received environmental approval for a proposed wind project in British Columbia.
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The U.S. government, along with five state legislatures, is working on a plan to move forward with offshore wind development in the Great Lakes.
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California-based SunEdison has closed on financing for a Bulgarian solar project.
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Construction of a new geothermal plant is being planned for the Klamath wildlife refuge in Klamath Falls, Ore.
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Duke Energy and Progress Energy may find it difficult to satisfy regulatory requirements at the state level in moving forward with a proposed merger.
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Environmental groups are suing the federal government over plans to develop a solar project in the Mojave Desert.
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President Barack Obama’s administration is set to unveil standards putting limits on carbon emissions from new power plants.
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First Wind has landed a $236 million financing supporting its 69 MW Kawailoa project in Oahu, Hawaii.
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Daniel Yergin, chairman of IHS Cambridge Energy Research Associates, believes that fossil fuels will be the dominant energy resource in the U.S. for decades.
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The wind energy industry is set to grow at a slower pace than originally anticipated, according to a report from Make Consulting and Navigant Consulting.
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Opponents of Tenaska’s proposed $3.6 billion coal-fired power facility in Taylorville, Ill., are claiming that the project will come at great cost to taxpayers.
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Xcel Energy and enXco have failed to come to an agreement on the proposed $400 million Merricourt wind project in North Dakota.
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Multilateral financial institutions are looking at taking bigger tickets in project financings and considering modifications to traditional deal structures.
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PI’s annual awards recognize excellence in power project finance and M&A transactions by assessing deals in terms of innovation, size and hurdles cleared on the road to execution.
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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 state of Iowa is moving away from coal-fired generation and increasing its gas-fired resources.
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