Investment Managers
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Crow Holdings, a Texas-based real estate investment and development firm, is launching a renewable energy business, Crow Holdings Renewables.
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Voya Investment Management, the asset management business of Voya Financial, has reached first close on an infrastructure debt fund that is focused on renewables project financing.
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The Chilean subsidiary of AES Corp has found a new buyer for its 50% stake in the 764 MW Guacolda coal-fired power plant in Atacama.
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Engie Energia Chile, a subsidiary of France's Engie, has signed a four-year renewable energy supply agreement with Chilean wastewater treatment firm Tratacal.
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Petrobras has started the non-binding phase of the sale of its minority stake in natural gas pipeline network Nova Transportadora do Sudeste.
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Brazil’s power regulator Aneel has approved the opening of a public consultation on bidding documents for a proposed auction of transmission line projects.
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AES Gener is preparing to launch a $500 million capital raise to fund its 1.6 GW solar and wind pipeline in Chile and Colombia, having obtained approval from its existing shareholders.
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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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Argentinian independent power producer Stoneway Capital Corp. has a new owner after missing debt amortization payments due in early March.
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The non-bank financial institution Corporación Interamericana para el Financiamiento de Infraestructura (CIFI) has provided a debt package for a solar portfolio developed under Chile’s PMGD (Pequeños Medios de Generación Distribuida) distributed generation scheme.
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British asset manager NextEnergy Capital has announced the acquisition of a 36.1 MW (DC) solar project in Mexico.
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IEnova, a subsidiary of Sempra Energy, has announced it will make its final investment decision on the addition of liquefaction facilities to the Energía Costa Azul (ECA) LNG terminal in Mexico by March of this year.
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Capital Dynamics has sealed its purchase of 8point3 Energy Partners, sparking conversations about the future of the yield company business model during a busy week of summer conferences.
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AES Corp. and Alberta Investment Management Corp. have mandated an adviser to sell a stake in a portfolio owned by sPower, the renewable project developer, owner and operator they jointly acquired last year.
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A joint venture between Axium Infrastructure and Manulife Financial Corp. has agreed to acquire a 35% stake in AltaGas’ hydro assets in northwest British Columbia for C$922 million (approximately $700 million).
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Fengate Real Asset Investments has entered into a $100 million, multi-year equity commitment with Texas developer PowerFin Partners, echoing a deal the asset manager struck with a Canadian developer two months ago.
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Southern Power has signed a deal to sell a one-third interest in a 1.7 GW solar portfolio to an institutional investor following an auction process.
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An entity owned by the Navajo Nation is purchasing a stake in a 1,540 MW coal-fired project that is located on tribal land.
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AMP Capital has agreed to form a joint venture with Invenergy through which the Australian investment manager will buy a 50% stake in a portfolio of gas-fired projects in the U.S., Canada and Mexico.
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The Caisse de dépôt et placement du Québec is increasing its shareholding in Invenergy Renewables by acquiring additional stakes from parent company Invenergy and an existing minority investor.
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ArcLight Capital Partners has agreed to sell a gas-fired asset in Arizona with a capacity of almost 600 MW.
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Fengate Real Asset Investments has hired a former Skadden project finance lawyer as chairman of its U.S. infrastructure unit, Fengate Capital Management.
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An investment vehicle advised by Soros Fund Management has invested equity in Sunnova Energy Corp.
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Fengate Real Asset Investments has signed a $100 million multi-year equity investment commitment with renewables developer Greengate Power Corp.
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A European infrastructure investment firm has tapped a former Ares-EIF partner to join its New York office as managing director.
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A Canadian pension manager has agreed to acquire Leeward Renewable Energy, adding a 1.7 GW portfolio of largely-contracted wind projects to its pool of investments.
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Macquarie Capital has sold minority stakes in its 907 MW Norte III gas-fired project in Mexico to two investment funds.
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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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A managing director at Macquarie Capital has moved from London to New York to take up the position of head of clean energy in North America.
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Project finance bankers are pinning their hopes on merger and acquisition activity to keep them busy this year, but they may have to wait a while for it business to pick up, say deal watchers.
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An asset manager has scooped up SunPower Corp.’s minority stake in a 100 MW Nevada solar project that was once earmarked for the developer’s yield company.
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Alberta Investment Management Corp. is taking 49% stakes in approximately 145 MW of wind assets Enel Green Power North America is developing in Canada.
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Renewables-focused brokerage and advisory firm Karbone is expanding, having acquired another New York boutique’s advisory business as it lays roots in a new city.
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The owner of a five-and-a-half-year-old wind project in Idaho and its tax equity investor are selling the facility to its offtaker under the terms of its pre-paid power purchase agreement.
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A Quinbrook Infrastructure Partners fund has closed its purchase of a 223.5 MW portfolio comprising six older wind assets in three U.S. states that it plans to repower.
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A fund managed by Quinbrook Infrastructure Partners has wrapped a debt and tax equity financing for a 200 MW wind project in Oklahoma.
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Royal Dutch Shell has agreed to acquire a 43.83% stake in Silicon Ranch Corp. from one of its backers, a Swiss private equity firm, making the Anglo-Dutch oil and gas giant the solar developer’s largest shareholder.
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Having closed a series of three acquisitions of small utility-scale U.S. renewables projects toward the end of last year, Greenbacker Renewable Energy has lined up another deal to buy a portfolio of operational solar assets in Colorado and California.
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A fund owned by three individual investors is doubling its stake in an approximately 850 MW portfolio of gas-fired projects, growing its ownership interest to over 99%, according to a filing with the U.S. Federal Energy Regulatory Commission.
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A company backed by Australian asset manager Blue Sky Alternative Investments and individual investor Randolph Mann, known as Randy, has acquired a bundle of battery storage projects from Powin Energy Corp.
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New England-based distributed energy finance shop Constant Energy Capital has hired a commodities trader at the managing director level and is preparing to make a mid-level hire within the next year.
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Marc Groves-Raines is taking over as head of Allianz Capital Partners’ London-based renewables group, which inked a string of U.S. tax equity deals in 2016.
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Former Panda Power Funds cfo Alison Zimlich has joined the c-suite of one of a transmission-focused Blackstone Group portfolio company.
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Asset manager Tennenbaum Capital Partners is seeking regulatory approval to increase its stake in a West Virginia coal-fired plant.
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An Australian investment manager has agreed to acquire a nearly 250 MW portfolio of contracted U.S. wind assets in what is slated to be its second major North American acquisition in a year.
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A renewables-focused Australian investment manager is close to selecting a tax equity investor for a recently-acquired wind project in the U.S.
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A private equity firm has agreed to acquire Ares-EIF’s interests in a portfolio of coal-fired assets, as well as an additional stake in one of the projects that is held by a high-profile individual on the Forbes 400 list of the wealthiest Americans.
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APG Asset Management, a subsidiary of Dutch pension manager Stichting Pensioenfonds ABP, announced this week that it has invested approximately €330 million ($384 million) of equity into a three-project portfolio in the western U.S.
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TransCanada Corp. is selling its solar assets in Ontario to a fund managed by Axium Infrastructure.
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Eversource's 1.2 GW New Hampshire generation portfolio is set to be sold in two portions following an auction process that was launched at the beginning of the year.
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NTE Energy has taken bids from potential debt providers for a contracted gas-fired project under development in North Carolina, deal watchers tell PFR.
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Beal Bank has requested regulatory permission to take possession of the 965.4 MW La Paloma merchant gas-fired project in McKittrick, Calif., on behalf of its creditors.
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New Energy Solar has agreed to acquire 14 solar projects in two U.S. states from Cypress Creek Renewables.
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New Energy Solar has secured a more-than-$80 million debt package to finance two solar assets in California and provide capital for future acquisitions.
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Allianz Renewable Energy Partners of America and Bank of America Merrill Lynch have requested regulatory approval to expand their tax equity collaboration through an investment in a 305.8 MW wind project in Illinois.
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John Laing Group has completed its third investment in a U.S. wind asset, acquiring a majority stake in the 149 MW Rocksprings facility in Val Verde County, Texas, from Akuo Energy.
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An energy infrastructure asset management firm has bought a 37 MW distributed generation portfolio from a solar development company.
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An insurance group partly owned by Goldman Sachs is consolidating its holdings of three solar projects it co-owns with Centaurus Capital.
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Pattern Development is planning to sell its soon-to-be increased stake in a New Mexico wind project to its yield company.
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SunEdison is selling a wind project duo to Longroad Energy, which was founded and is run by former executives of the company that originally developed the projects, First Wind.
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Tiger Infrastructure Partners and Agate Power have announced the acquisition of an operational peaker on the Hudson River.
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Capital Dynamics has added two shovel-ready projects totaling 28 MW (DC) to a portfolio that has swelled this year as the firm snapped up more than 800 MW of assets.
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A San Francisco-based renewables-focused private equity firm has acquired a portfolio of community solar projects in Massachusetts and financed it with a project bond and tax equity.
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Connor, Clark & Lunn Infrastructure and CarbonFree Technology have acquired part of a 65 MW portfolio comprising 15 utility-scale solar projects in Chile and plan to close the purchase of the remaining assets in the coming months.
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A subsidiary of Allianz and MUFG are investing in tax equity associated with an Enel Green Power North America wind project in Oklahoma.
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The Caisse de depot et placement du Quebec, fresh from an acquisition of additional shares in Boralex that made it the independent power producer’s largest shareholder, could potentially seek to merge the company with Innergex Renewable Energy, according to an analyst report circulated this week.
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AES Corp. and Alberta Investment Management Corp. closed their acquisition of sPower on July 25, taking over Fir Tree Partners’ interest in the renewables company.
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Caisse de dépôt et placement du Québec has acquired a 17.3% interest in Canadian developer Boralex.
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A bunch of SunEdison assets have changed hands in the same week that the company sought to finalize its plan to exit bankruptcy.
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The chief investment officer of Brookfield Renewable Partners' North American platform has announced that he is departing the firm.
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In June, officials from KeyBanc Capital Markets, Prudential Capital Group, Voya Investment Management and BlackRock discussed the latest trends U.S. renewable project finance with PFR.
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Macquarie Infrastructure Corp., has invested in a new renewables development shop founded by former Recurrent Energy employees.
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Investment manager MPC Capital has launched a renewables business in Panama City to invest in projects throughout parts of Central America.
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Several senior members of staff have left a Blackstone-financed renewable shop.
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United States Solar Corp. has lined up project finance from a renewables-focused investment manager for upward of 100 MW of community solar assets in Minnesota.
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A new class of tax equity investor is ready to enter the market, said speakers at the 14th annual REFF Wall Street conference in New York.
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An abundance of capital has run up against a lack of major wind and solar projects to finance, forcing banks and investors to broaden their horizons, said panelists at the 14th annual REFF Wall Street conference in New York.
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Caisse de dépôt et placement du Québec is increasing its passive equity stake in Invenergy’s renewables platform.
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Churchill Stateside Group, a Florida-based asset manager, has closed its ninth tax equity fund.
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Allianz Global Investors has completed its first debt investment in a U.S. solar project.
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The Blackstone Group has promoted a senior m.d. with over a decade of experience in power to be head of its new Saudi-backed infrastructure vehicle.
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LS Power has closed a hybrid bank and institutional debt financing for a more-than-3 GW portfolio of merchant and gas-fired projects and sold the assets to a new group of institutional investors.
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Renewables-focused investment manager Quinbrook Infrastructure Partners has acquired wind developer Scout Clean Energy, which owns a 1.6 GW development pipeline comprising nine projects.
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Avangrid Renewables has acquired a 50% stake in a development platform of Copenhagen Infrastructure Partners that owns a lease for a wind project off the coast of Massachusetts.
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A Dutch pension fund manager has agreed to acquire a portfolio of distributed solar assets from SolarCity.
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Moody’s Investors Service has placed the debt associated with a contracted gas-fired cogeneration plant in California on review for downgrade, citing renewable development and hydrology levels in the region.
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Dynegy has taken bids on two gas-fired projects in New England to mitigate competition concerns raised as a result of its recent acquisition of a 9 GW generation portfolio from Engie.
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Three funds have closed part of a planned equity investment in a 921 MW renewables portfolio owned by D.E. Shaw Renewable Investments.
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The Speaker of the U.S. House of Representatives, Rep. Paul Ryan (R-Wis.), signaled this week that passing a tax reform bill would take longer than initially expected. Some deal watchers in the renewables project finance space are wondering if it will ever happen at all.
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An insurance company has agreed to purchase a stake in a renewables business owned by Exelon Corp.
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The online poll for PFR’s Deals and Firms of the Year Awards has closed, after market participants voted for the banks, sponsors, investors and deals they thought were most impressive in 2016. The survey received roughly double the number of votes cast last year.
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The debt financing that closed this week for Competitive Power Ventures' 1,050 MW Fairview gas-fired project in Jackson Township, Pa., combined loans from commercial banks, South Korean institutions and three international investors.
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The debt financing for Competitive Power Ventures' 1,050 MW Fairview gas-fired combined-cycle project in Jackson Township, Pa., included a fixed-rate tranche provided by three international institutional investors, PFR has learned.
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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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Two entities, including a Texas hedge fund, have acquired ownership interests in concentrated solar developer SolarReserve.
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An Australian fund manager has closed its acquisition of a majority stake in a North Carolina solar project from VivoPower.
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LS Power refinanced two peakers in Illinois in early February, PFR has learned. Like other recently signed loans backing gas-fired projects in PJM Interconnection, the deal attracted interest from South Korean investors.
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A managing director who was at Highstar Capital for 12 years left the firm in January, PFR has learned.
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Pattern Energy has closed a C$263 million ($196 million) debt financing for a 147 MW wind project in Québec.
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Sammons Renewable Energy has acquired four development-stage hydro projects in British Columbia from Italian developer and contractor Sorgent.e, and is planning to raise debt financing for the projects next month.
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Duke Energy Renewables closed a privately placed debt financing for a roughly 700 MW portfolio of operational wind projects in Texas and Oklahoma in January, PFR has learned.
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Cheniere Energy is hunting for $1.35 billion of debt for its Sabine Pass LNG liquefaction project in Louisiana in the public bond market after closing an $800 million private placement for the same project on Friday.
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PFR is pleased to announce the finalists for its 14th Annual Deal of the Year awards. Here is the short list for Americas LNG Project Finance Deal of the Year.
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Kineticor Resource Corp. has acquired a partially-built cogeneration facility from Shell Canada and closed a corporate equity raise.
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PFR is pleased to announce the finalists for its 14th Annual Deal of the Year awards. Here is the short list for North America Conventional Power Project Finance Deal of the Year.
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An investment vehicle of two family trusts is acquiring a waste coal-fired facility in Cambria County, Pa., from Babcock & Wilcox.
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Allianz Global Investors has sealed its second U.S. renewables debt investment—a back-leveraged private placement to refinance a D.E. Shaw Renewable Investments-owned wind project in Oklahoma.
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Legal & General has lined up its first U.S. renewables debt financing—a $65.8 million private placement.
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Fengate Real Asset Investments has acquired three solar facilities totaling 59.8 MW in Sault Ste. Marie, Ontario, and is eying opportunities in the U.S.
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Four financial institutions have committed to invest tax equity in Pattern Development’s 324.3 MW Broadview wind project in Curry County, N.M., and Deaf Smith County, Texas.
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EDF Renewable Energy has found a third tax equity investor to participate in a deal backing its 225 MW Great Western wind project in Oklahoma.
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A fund managed by Capital Dynamics on behalf of two investors has agreed to purchase the 250 MW Moapa solar project in Clark County, Nev., from First Solar.
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Brookfield Asset Management has entered into exclusive negotiations to reach two separate deals in which it would acquire or assume sponsorship of SunEdison’s yield companies.
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AMP Capital has hired an institutional director to oversee the distribution of its infrastructure debt and equity funds as it grows its Americas team.
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MUFG topped the power project finance league table for North America in 2016, arranging loans totaling some $3.7 billion, according to data from PFR affiliate Dealogic.
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The deadline for nominations for Power Finance & Risk's Deal of the Year 2016 awards is coming up quickly. Make sure your deal of the year doesn't miss out on the short list by sending in a nomination by Jan. 31.
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Budding solar independent power producer Silicon Ranch Corp. has closed a $55 million equity raise from its existing investor group, led by Partners Group.
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Homer City Generation, a GE Capital subsidiary that owns a 1,884 MW three-unit coal-fired plant in Indiana County, Pa., filed for a pre-packaged restructuring under Chapter 11 on Jan. 11.
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Bank of America Merrill Lynch has arranged a $204 million institutional term loan to refinance a 214 MW residential solar portfolio for Vivint Solar.
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SolarCity has raised $241 million for a distributed solar portfolio with its third levered cash equity transaction.
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Allianz Global Investors, the investment management arm of German insurer Allianz, has completed its first project-level debt investment in the U.S. renewables sector—a more than $400 million private placement for a BHE Renewables wind project in Nebraska.
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D. E. Shaw Renewable Investments has purchased and secured project financing for its first solar project in the Southeastern U.S.
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An institutional investor has joined the $823 million debt financing backing Engie and Red Eléctrica’s Transmisora Eléctrica del Norte transmission line in Chile that is expected to close imminently.
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Capital Dynamics has secured a tax equity commitment from GE Energy Financial Services for a 60 MW solar portfolio in Power County, Idaho.
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Ormat Nevada and Northleaf Capital Partners have closed a $92.5 million private placement refinancing for a 20 MW geothermal project they co-own in Nevada.
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New Energy Solar Fund, an investment vehicle of Australia-based Walsh & Co., is acquiring stakes in two SunPower solar projects in Kern County, Calif.
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New Jersey-based solar shop Soltage has closed the first part of a $140 million equity investment that it will use to develop a 100 MW portfolio of projects in the U.S.
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Allianz Capital Partners is investing tax equity in an EDF Renewable Energy merchant wind asset under development in Illinois.
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A consortium of South Korean investors have taken a $200 million ticket in a senior secured loan backing Starwood Energy Group Global’s acquisition of two merchant gas-fired units totaling 840 MW, as Asian institutions look to increase their exposure to U.S. generation.
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Mainstream Renewable Power has hired a former investment banker and investor to head its new financing and investment division.
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