Mid-stream gas
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Oneok has agreed to acquire Global Infrastructure Partners’ (GIP) interests in EnLink Midstream and Medallion Midstream for $5.9 billion.
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Bernhard Capital Partners’ acquisition of Entergy's Louisiana gas systems has been approved by the Louisiana Public Service Commission.
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TC Energy Corporation and an Énergir subsidiary partner have completed the sale of the Portland Natural Gas Transmission System (PNGTS) to BlackRock and investment funds managed by Morgan Stanley Infrastructure Partners (MSIP).
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North American energy development, investment and operating company LS Power has established an independent power producer named Lightning Power.
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Bernhard Capital Partners (BCP) yesterday (5 August) agreed to acquire New Mexico Gas Company (NMGC) from Emera in a deal worth $1.25 billion.
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Morgan Stanley Senior Funding has been identified as the lender of a $700 million loan to New Fortress Energy for its Mexico-based FLNG unit 2, PFR has learned.
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New Fortress Energy has closed a $700 million loan for its FLNG unit 2 in Mexico.
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EQT Corporation’s $5.45 billion all-stock acquisition of natural gas provider Equitrans Midstream faces legal opposition from numerous Equitrans shareholders, PFR has learned.
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Blackstone Infrastructure Partners will buy a 30.2% stake in US-based power company Tallgrass Energy Partners from Spanish energy company Enagás for $1.1billion.
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US-based White River Energy has formed a wholly owned spin-out in the United Arab Emirates' finance centre, Abu Dhabi Global Market (ADGM), named White River International (WRI), PFR has learned.
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Pennybacker Capital Management will acquire a small-scale Miami-based LNG business from New Fortress Energy.
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Denver, Colorado-based Elevation Midstream has merged with Platte River Holdings, a subsidiary of ARB Midstream.
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Management firm Riverview Investment Holdings will buy 100% of the interest in subsidiary UGI Development Company from parent UGI Energy Services.
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Independent power project investor Tyr Energy has agreed to acquire Siemens Financial Services’ 20% in the natural gas-fired Hickory Run Energy power plant, PFR has learned.
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Pembina Gas Infrastructure, a joint subsidiary of KKR and Canada's Pembina Pipeline Corporation, will acquire a 50% interest in Whitecap’s 15-07 Kaybob Complex for $420 million.
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Oglethorpe Power will acquire a 465MW peaking power plant in Georgia from global investment firm The Carlyle Group’s affiliate Mackinaw Power Holdings.
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British Columbia-based Cedar LNG, a partnership between Pembina Pipeline and the Haisla Nation, has reached final investment decision.
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Kimmeridge subsidiary Kimmeridge Texas Gas has closed on its follow-on control investment in Commonwealth LNG and hired David Lawler as chief executive to lead the venture.
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Catalyst Power is to buy New-York based electricity and natural gas supplier Robison Energy from V3 Commodities Group.
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Brookfield Infrastructure Partners is selling its Canadian gas gathering and processing business, NorthRiver Midstream, to unlisted infrastructure business Kiara Infrastructure Private Limited, PFR has learned.
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Midstream natural gas company Kinetik has closed on the sale of a 16% equity interest in the Gulf Coast Express pipeline (GCX) to an ArcLight Capital Partners affiliate.
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Canadian pipeline and energy company Enbridge has closed on its acquisition of Dominion Energy’s Questar Gas and Wexpro assets for around $4.3 billion.
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Private equity firm Cresta Fund Management has made a controlling investment in Ocean Pacific, a company that develops compressed natural gas (CNG) and alternative fuel stations.
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Oklahoma-based midstream natural gas company ONEOK will acquire 450 miles of natural gas liquids (NGL) pipeline from Houston, Texas midstream business Easton Energy.
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Midstream natural gas company Kinetik will sell its 16% equity interest in the Gulf Coast Express pipeline (GCX) to an ArcLight Capital Partners affiliate for $540 million in cash.
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Atlas Energy Solutions has appointed Blake McCarthy as its chief financial officer, effective 13 May 2024, PFR has learned.
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Motor fuel giant Sunoco has closed on its $7.3 billion all-equity acquisition of independent pipeline operator NuStar.
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The Bureau of Land Management has opened bidding on 5 lease sales for oil and gas-ready land across the US.
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Colorado-based Humble Midstream II Partners has hired Brian Newmarch and John Shefchik as CFO and VP, engineering and construction, respectively.
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The technology venture arm of US-based oil & gas producer Chevron has launched a third fund with $500 million in capital.
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PPL Corporation's CEO told the room of power executives at S&P's Global Power Market Conference 2024 that more natural gas power is needed despite a focus on renewables.
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Enbridge subsidiaries Enbridge Energy Partners and Spectra Energy Partners have closed on their offering of $3.5 billion in senior notes, PFR has learned.
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Chesapeake Energy’s $7.4 billion merger with Southwestern Energy has been delayed following a request from the Federal Trade Commission (FTC).
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Entergy New Orleans is issuing $150 million in first mortgage bonds with the Bank of New York Mellon, PFR has learned.
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Independent natural gas and oil company HighPeak Energy will up its existing $75 million credit agreement to $100 million, PFR has learned.
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Enbridge has closed on the sale of its 50% stake in the Alliance Pipeline and its 42.7% stake in Aux Sable to Pembina Pipeline.
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Cheniere Energy has closed the sale of a $1.5 billion aggregate principal senior notes offering, PFR has learned.
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EQT Corporation will acquire natural gas provider Equitrans Midstream Corporation in an all-stock transaction valued at $5.45 billion.
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Canadian pipeline and energy company Enbridge has closed on its acquisition of Dominion Energy’s East Ohio Gas Company (EOG) for $6.6 billion.
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TC Energy and partner Northern New England Investment Company are to sell the Portland Natural Gas Transmission System (PNGTS) to BlackRock and investment funds managed by Morgan Stanley Infrastructure Partners (MSIP).
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New Fortress Energy (NFE) has inaugurated its Barcarena LNG terminal – part of a thermoelectric complex project in Barcarena, Pará state.
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Investment bank Moelis & Company has hired Stephen Trauber, formerly Citi's global head of energy transition, as chairman and global head of its energy and energy transition team.
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Delta Utilities – a portfolio company of Bernhard Capital – has today (20 February) entered an agreement with CenterPoint Energy to acquire natural gas distribution networks.
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New Fortress Energy has completed sale of its 20% equity interest in global maritime infrastructure company Energos Infrastructure to Apollo-managed funds.
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National Fuel Gas Company (NFG) has entered a multi-bank $300 million unsecured term loan credit facility, PFR has learned.
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Verde Clean Fuels and a Diamondback Energy subsidiary have signed a joint development agreement for a facility to produce commodity-grade gasoline using natural gas feedstock supplied from Diamondback’s operations in the Permian Basin.
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Evergy will acquire a 22.2% interest stake in 655MW natural gas-fired facility Dogwood Energy, PFR has learned.
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A Tenaska affiliate has acquired 6 natural gas generation facilities from IMG Energy Solutions.
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Spire is offering $350 million in 5.3% senior notes due 2026 to help fund the acquisition of the MoGas and Omega pipeline systems.
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BP Energy Partners-owned Cryopeak LNG Solutions has merged with the Energy & Minerals Group-owned Ferus Natural Gas Fuels, combining their LNG production and distribution technologies.
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Midstream power company NGL Energy Partners has closed on a $2.9 billion refinancing.
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Quantum Capital Group has partnered with Humble Midstream II to fund the company’s continuing development and operation of US-based energy infrastructure projects.
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Midstream power company NGL Energy Partners has increased its senior secured notes offering to $2.2 billion.
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Motor fuel giant Sunoco has agreed to acquire independent pipeline operator NuStar in an all-equity transaction valued at $7.3 billion.
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CorEnergy Infrastructure has closed on sale of its MoGas and Omega pipeline systems (MoGas System) to Spire subsidiary Spire Midstream.
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The Bureau of Land Management (BLM) will begin the first of 8 oil and gas lease sales this year with the auction of 19 Wyoming-sited parcels covering 13,858.91 acres on 5 March.
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LS Power has agreed to acquire an 810MW natural gas-fired power plant sited in Gettysburg, Pennsylvania from an affiliate of Platinum Equity.
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Despite renewables grabbing the headlines, emergency weather situations and the increased energy demand in cities with rapidly rising populations have been catalysts for a “gas renaissance” in the M&A power space.
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Spire has named Scott Doyle its executive vice president and chief operating officer, effective January 15, 2024.
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Williams has closed on its $1.95 billion acquisition of a portfolio of natural gas storage assets from an affiliate of Hartree Partners.
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Cadiz has received the final regulatory nod from the US Bureau of Land Management (BLM) to complete its acquisition of the 220-mile pipeline from El Paso Natural Gas (EPNG).
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Southern Company subsidiary Georgia Power Company (GPC) will sell multiple specified transmission lines to Georgia Transmission Corporation (GTC), PFR has learned.
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Independent power producer Nightpeak Energy (Nightpeak) has closed on its acquisition of NRG subsidiary Saguaro Power Company (Saguaro).
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Kinetik Holdings will offer $500 million in sustainability-linked senior notes due 2028.
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Chesapeake Utilities has completed its acquisition of Florida City Gas, which will henceforth act as a wholly-owned subsidiary of the company.
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Chesapeake Utilities is looking to raise $330 million through a common stock offering to help fund its Florida City Gas acquisition, expected to close in the fourth quarter of 2023.
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NextEra Energy Partners is selling its Texas natural gas pipeline, STX Midstream, to Kinder Morgan for $1.8 billion.
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Natural gas and wastewater company Essential Utilities has closed on the sale of its entire West Virginia natural gas utility portfolio to Hope Gas.
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Energy and infrastructure investment giant NextEra has agreed to sell Florida City Gas (FCG) to oil and gas company Chesapeake Utilities.
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Trinity Gas Storage has closed $189 million in equity funding from private equity firm Transition Equity Partners and debt financing led by Investec as the joint lead arranger for its natural gas storage facility in Anderson County, Texas. The other investors include Pan Capital Management, Arbdn, SailingStone Capital Partners, and Rice Investment Group.
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Enbridge has agreed to acquire three Dominion Energy assets for $14 billion in a merger creating North America’s largest natural gas utility platform by volume.
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Rockland Capital, a private energy investment company, has purchased a natural gas- and oil-fired energy facility in the NYISO market from GenOn Holdings, inc.
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Natural gas company PureWest Energy has merged with a newly formed entity sponsored by a private consortium of family offices and financial institutions (PW Consortium) in a $1.84 billion deal.
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LS Power is set to acquire a 2.1GW natural gas generation portfolio from Brazos Electric Power Cooperative in ERCOT.
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NextEra Energy Partners is looking to sell its STX Midstream and Meade natural gas pipeline assets as it focuses on its renewable energy portfolio.
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Canadian pipeline and energy company Enbridge has agreed to acquire the Aitken Creek natural gas storage facility from FortisBC Holdings Inc for $400 million.
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Despite advancements in battery storage posing a long-term risk to natural gas – as the long-term growth of renewable power erodes market share for the fossil fuel – the conventional power generation method still has a large part to play in energy transition.
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Electricity Generating (EGCO), the power generation arm of the Electricity Generating Authority of Thailand, has completed the acquisition of a 49% interest in Rhode Island State Energy Centre (RISEC) in Johnston, Rhode Island.
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Eneva has closed its acquisition of CELSEPAR, the holding company which owns the largest LNG-to-power asset plant in Brazil.
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Sempra Infrastructure and state-owned utility company Comisión Federal de Electricidad (CFE) have entered agreements to advance their partnership in Mexico.
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Infrastructure Investments Fund (IIF) has acquired the country's largest privately owned gas storage company, Enstor Gas, from ArcLight Capital Partners.
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A group of industry veterans have formed Cardinal Midstream, an independent energy company, and received a capital commitment of $300 million from EnCap Flatrock Midstream.
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Ullico has struck a deal to acquire regulated gas distribution company Hope Gas (also known as Dominion Energy West Virginia) for $690 million.
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Freeport LNG has signed a letter of intent with oil and gas firm Talos Energy to develop a carbon capture and sequestration (CCS) project at the site of its Freeport LNG export facility on Quintana Island, near Freeport, Texas.
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Global Infrastructure Partners (GIP) has struck a deal to sell its stake in the 15 mtpa Freeport LNG export facility on Quintana Island, near Freeport, Texas.
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Sempra Energy has closed the sale of a 20% stake in its subsidiary, Sempra Infrastructure Partners, to investment firm KKR & Co, five months after announcing the deal.
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Sempra Energy’s cash tender offer for a 3.6% slice of publicly-held shares in its Mexican subsidiary, Infraestructura Energética Nova (IEnova), expired on September 10.
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New Fortress Energy (NFE) has started commercial operations at its LNG terminal in the port of Pichilingue, Mexico.
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A buyer has emerged for a natural gas pipeline and storage developer based in the Northeastern US, following a competitive auction process.
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CenterPoint Energy has found a buyer for two of its natural gas utility businesses, following a sale process that was first announced in November.
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Petrobras has sold its remaining 10% stake in the Transportadora Associada de Gás (TAG) pipeline network to Engie and Caisse de dépôt et placement du Québe – the same consortium that already owns the other 90%.
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Global Infrastructure Partners' credit fund GIP Spectrum has emerged as one of the key investors in the recent project bond offering for the Whistler gas pipeline in Texas.
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A consortium including Stonepeak Infrastructure Partners has closed a dual-tranche private placement to fund construction of the Whistler gas pipeline in Texas.
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A group of renewable energy developers in Mexico have won a legal reprieve against grid operator Cenace' suspension of interconnections for wind and solar projects.
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A consortium including Stonepeak Infrastructure Partners has launched a private placement to finance construction of the Whistler natural gas pipeline in Texas.
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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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NextEra Energy Partners closed almost $1 billion in two-tranche debt financing last month to fund its acquisition of a 39.2% stake in the 185-mile intrastate Central Penn gas pipeline.
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Wataynikaneyap Power and Fortis achieved financial close and notice to proceed on a C$1.9 billion ($1.4 billion) transmission project in northwestern Ontario on Oct. 29.
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Atlantica Yield has completed the acquisition of operational transmission assets in Peru from Abengoa, noting in an investor presentation that they are free of debt and present a "refinancing opportunity."
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The marine gas pipeline Sur de Texas-Tuxpan in Mexico started commercial operations today after TC Energy and IEnova signed a renegotiated contract with the national power utility Federal Electricity Commission on Sept. 13.
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Cheniere Energy Partners closed $1.5 billion in senior secured loans with 29 lenders on May 29 to finance construction of train 6 of its Sabine Pass Liquefaction project in Cameron Parish, La.
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Stonepeak Infrastructure Partners has agreed to provide $1.3 billion in equity for Venture Global’s Calcasieu Pass LNG export facility in Cameron Parish, La., as the sponsor works with lenders on project financing.
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Morgan Stanley has provided Venture Global with a bridge facility for its Calcasieu Pass LNG export terminal in Louisiana.
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Power Finance & Risk is now accepting pitches for Deal of the Year as part of its 16th Annual Deals and Firms of the Year Awards, recognizing excellence in power asset M&A and project finance across the Americas.
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Details have emerged about the approximately $1 billion portfolio of GE Energy Financial Services equity holdings which Apollo Global Management announced it would be acquiring last week (PFR, 10/8).
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Apollo Global Management has emerged as the buyer of a mostly U.S. portfolio of GE Energy Financial Services' equity holdings, following a competitive auction.
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Having completed its move from GE Energy Financial Services to a new home at Starwood Property Trust, Denise Persau’s project finance team is looking forward to having a broader mandate, potentially investing up and down the capital structure and in non-energy infrastructure.
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Kinder Morgan has appointed an investment bank as financial adviser on a sale process for its remaining Canadian business, which could yield as much as C$2.4 billion ($1.8 billion).
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Over 20 lenders have committed $3 billion to fund a three-year term loan for Dominion Energy’s Cove Point LNG terminal.
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GE Capital has found a buyer for its GE Energy Financial Services project finance debt business, including a team of employees. [Updated with acquisition finance details]
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Jefferies has hired a senior banker from a bulge-bracket firm as it rebuilds its power and utilities investment banking team in New York.
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The U.S. Department of Energy has asked lenders to submit applications for federal loan guarantees under an up-to-$2 billion program to support projects sponsored by Native American and Alaska Native communities.
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Fermaca has raised $805 million through a term loan and a bond to refinance a 2015 construction loan secured against its El Encino–La Laguna gas pipeline.
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PFR is pleased to announce the winners of its 15th Annual Deals and Firms of the Year Awards, with added emphasis this year on the leading investment banks in power across the Americas.
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The Canada Pension Plan Investment Board is acquiring a 49% stake in an Enbridge renewables portfolio that includes all of the company’s renewable assets in Canada and two U.S. projects. Meanwhile, a private equity firm has agreed to purchase Enbridge’s midstream business in the U.S.
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Canadian energy infrastructure sponsor TransCanada PipeLines priced a triple-tranche bond offering slightly tighter than initial price talk on May 3, despite a recent ratings downgrade.
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The owners of a U.S. gas pipeline have issued a $1.5 billion three-part senior unsecured bond to finance the project.
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The owners of a gas pipeline in the U.S. have hired four bookrunners to market a $1.5 billion senior unsecured bond offering to fixed income investors.
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A joint venture between Golar Power and Ebrasil has reached financial close on its 1,551 MW Porto de Sergipe I LNG-to-power project, securing $1.47 billion of non-recourse project debt.
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Two Latin American mid-stream gas companies and an independent power producer are preparing to tap the fixed income market in the coming weeks.
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Peru LNG, the owner of South America's only gas liquefaction plant, garnered sufficient investor demand to cover its $940 million debut bond offering more than two and a half times, pricing the deal at the tail end of last week.
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There are a few days remaining to cast your votes for the best project sponsors, banks, law firms, institutional and tax equity investors and deals in PFR's 15th Annual Deals and Firms of the Year Awards.
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The next wave of LNG projects in the U.S. will face more daunting financing challenges because of how the global natural gas market has evolved, say analysts at S&P Global Ratings.
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Power Finance & Risk is accepting pitches for Deal of 2017 as part of its 15th Annual Deals and Firms of the Year Awards, recognizing excellence in power asset M&A and project finance across the Americas.
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Morgan Stanley is arranging a term loan B backing The Blackstone Group's acquisition of a stake in Energy Transfer Partners’ 715-mile Rover international natural gas pipeline.
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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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NextEra Energy Partners has obtained its first credit ratings as the yield company prepares to raise debt in the capital markets.
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LS Power Equity Advisors has closed its acquisition of four merchant generation assets in the northeastern U.S. from TransCanada Corp. for $100 million less than initially anticipated.
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Private equity firm EIG Global Energy Partners is committing $500 million in equity to a natural gas pipeline Cheniere Energy is developing in Oklahoma.
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The impact of nuclear subsidies on gas-fired generation and the difficulty of approving natural gas pipelines in New York state were hot topics at Platts Northeast Power & Gas Markets Conference, which was held at the New York Marriott Downtown on May 22 and 23.
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The U.S. President has selected two prospective Republican commissioners to sit on the Federal Energy Regulatory Commission, the White House announced on Monday.
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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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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 Latin America M&A Deal of the Year.
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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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PFR is pleased to announce the finalists for its 14th Annual Deal of the Year awards. Here is the short list for Latin America Project Finance Deal of the Year.
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Following a competitive nomination process and careful deliberation, PFR can now reveal the finalists for its 14th Annual Deal of the Year Awards.
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The #PowerTweets feature tracks trends in power project finance and M&A in the Americas on Twitter.
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The former head of BBVA’s North American project finance group has landed a position at a British Columbia-based LNG project developer.
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The U.S. Federal Energy Regulatory Commission has issued an order delegating additional authority to its staff to allow orders to be issued while it remains one commissioner short of quorum, but some approvals could still be delayed, say deal watchers.
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The Supreme Court of Chile has revoked the environmental permit for the Penco Lirquén offshore regasification terminal, one of two commercially-linked projects, collectively known as Octopus LNG, that obtained debt financing at the end of last year.
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The Peruvian government has announced that it has cancelled its contract with the consortium led by Brazilian construction firm Odebrecht for the under-construction Peruvian Southern Gas Pipeline.
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The most frequently asked questions regarding nominations for our Deal of the Year Awards.
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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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A managing director has left Sequent Energy Management to head the power and gas origination team at Engie Resources in Houston.
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Fermaca closed a debt financing involving 10 banks for a 235-mile Mexican gas pipeline on Nov. 22.
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Power Finance & Risk is now accepting submissions for its Deal of the Year 2016 Awards, recognizing excellence in power asset M&A and project finance across the Americas.
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Ormat Technologies is looking to acquire geothermal and storage projects in the U.S. and further afield.
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A joint venture between Howard Energy Partners and Grupo Clisa has sealed a $353.3 million mini-perm debt financing for a U.S.-Mexican gas pipeline project.
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A private equity executive who was head of EQT Partners’ U.S. infrastructure business has landed at the New York office of London-based Actis.
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TransCanada has agreed to sell its U.S. generation assets to two private equity shops, LS Power Equity Advisors and ArcLight Capital Partners.
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First round bids on the Panda Power Funds portfolio of three gas-fired projects for sale are due next month, deal watchers tell PFR on the sidelines of the Platts 18th Annual Financing U.S. Power conference at the Crowne Plaza New York in Times Square.
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Seven banks are underwriting a debt financing for a floating LNG terminal off the coast of Chile and an associated gas-fired combined-cycle project in the country’s Bíobío region, collectively known as the Octopus LNG project, says a person familiar with the deal.
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Cheniere Energy raised $1.5 billion in the bond market on Monday to refinance debt at its Sabine Pass LNG liquefaction project in Louisiana, after S&P Global Ratings raised the project’s rating to investment grade.
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The #PowerTweets feature tracks trends in power project finance and M&A in the Americas on Twitter. For more news and coverage, follow @PowerFinRisk on Twitter, as well as editor @MetcalfReports, managing editor @OliviaFeld and reporter @FotiosEuromoney.
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In this week’s Industry Current, Bernays ‘Buz’ Barclay, managing partner at Rimon P.C. and senior adviser to Marathon Capital, calls on the power industry to engage with blockchain technology.
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Enbridge Inc. will look to sell $2 billion of non-core assets over the next 12 months, following the announcement that it has agreed to merge with Spectra Energy Corp.
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A consortium led by a Sempra Energy subsidiary has agreed to enter into exclusive negotiations with Odebrecht to buy its 55% stake in a 700-mile gas pipeline under construction in Peru.
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A consortium led by Brookfield Infrastructure Partners is close to reaching an agreement to acquire Petrobras' Nova Transportadora do Sudeste natural gas pipeline unit, the BIP's ceo said on the company's second quarter earnings call Wednesday. An exclusive negotiation period ends this month.
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Corporate bond issuances by Chilean transmission company Transelec and oil and gas master limited partnership EnLink Midstream Partners have been well received by investors eager to buy dollar-denominated assets amid uncertainty in Europe.
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Southern Company has taken another step into the natural gas transportation market by acquiring a 50% stake in a Kinder Morgan pipeline system in the southern U.S for $1.47 billion.
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The U.S. corporate bond market appears to be receptive to utility and mid-stream energy names that are lining up deals, after a quiet period triggered by the U.K.’s decision to leave the European Union.
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Freeport LNG is holding an investor roadshow for a project bond to refinance train two of its 13.9 million mtpa LNG liquefaction and export facility in Quintana Island, Texas.
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Southern Company raised a record-breaking $8.5 billion in the bond market on April 19 with a tightly-priced seven-tranche deal, some of which will be used to fund its acquisition of Atlanta-based gas distributor AGL Resources.
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Power Finance & Risk announced the winners of its 13th Annual Deals and Firms of the Year Awards at the PFR Awards Dinner at the Metropolitan Club in New York on Wednesday, April 18. Read the full list of winners here.
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A sponsor has filed for permission to build a $20 billion LNG export project and accompanying pipeline at the Port of Brownsville, Texas. The sponsor is in the process of hiring financial advisers.
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The votes are in, and Power Finance & Risk can now reveal the nominees for the Deals and Firms of the Year Awards.
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Power Finance & Risk’s Deals & Firms of the Year Awards poll has been extended until April 16, giving you an additional week to tell us which banks, sponsors and law firms best navigated the markets in 2015.
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TransCanada Corp. has been awarded a contract to build, own and operate the Tula-Villa de Reyes 261-mile natural-gas pipeline in Mexico.
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Tallgrass Development is upping its stake in the Rockies Express Pipeline (REX) to 75% in a $440 million cash deal that will see Sempra U.S. Gas & Power sell all of its 25% interest in the project.
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Energy Transfer Partners is set to realise much lower synergies than originally expected from its merger with Williams Companies.
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An equities analyst is leaving Credit Suisse to take up a new role at Exelon Corp, one of the companies he covers.
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Duke Energy has launched a public offering of 9.25 million shares to finance part of its purchase of Piedmont Natural Gas.
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Power Finance & Risk’s Deals & Firms of the Year Awards are back, recognizing excellence in power finance and asset M&A across the Americas.
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LS Power is selling the 738 MW West Deptford gas-fired combined-cycle project in West Deptford, N.J. Prospective buyers are conducting "late stage due diligence," a deal watcher tells PFR.
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Duke Energy has announced that it is considering a sale of all its assets in Latin America. The 4.4 GW portfolio includes projects in Brazil, Argentina, Chile, Guatemala, Peru, Ecuador, and El Salvador.
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Dominion Resources has purchased Utah natural gas utility Questar, which operates approximately 2,500 miles of natural gas pipeline in Utah, Wyoming, and Colorado, in an all-cash transaction.
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Transcontinental Gas Pipe Line Co (Transco), a subsidiary of master limited partnership Williams Partners, priced its first corporate bond in two years on Jan. 19, obtaining pricing that reflects the pressure of low commodities prices on the MLP space.
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A consortium led by Brookfield Renewable Energy Partners has agreed to acquire a 57.6% interest in Isagen, from the Colombian government for 6,486 billion Colombian pesos ($2.2 billion).
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I Squared Capital’s ISQ Global Infrastructure Fund has acquired Lincoln Clean Energy.
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Stonepeak Infrastructure Partners is actively evaluating equity investments in gas-fired and renewable projects in North America having raised $3.5 billion for its second infrastructure fund.
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A term loan B launched by The Carlyle Group to finance its acquisition of the Rhode Island State Energy Center in Johnston, R. I., has been priced and is due to close soon.
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SunEdison has terminated agreements to acquire a portfolio of assets from Renova Energia and take a stake in the company.
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Energy Transfer Partners has raised $1.16 billion in two simultaneous deals backing a pair of natural gas pipelines that will connect the Waha hub in Texas to the Mexican border.
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Sempra Energy has put the launch of its master limited partnership on hold until mid-2016, citing poor MLP market conditions.
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Rating agencies have reacted unfavorably to Duke Energy's $4.9 billion acquisition of Piedmont Natural Gas, with some of the two companies' ratings facing possible downgrades. Duke will assume approximately $1.8 billion of Piedmont's debt under the terms of the deal.
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Talen Energy has pulled its $400 million term loan B due to market conditions. The company has announced over $1.6 billion asset sales in the last few weeks.
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Talen Energy has agreed to sell a 399 MW coal-fired project in Baltimore as part of a proposed divestiture plan to satisfy the regulatory requirements of the company's formation. Macquarie Infrastructure Corp. is challenging the plan.
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Alterra Power Corp. is acquiring four hydroelectric projects from Sigma Engineering. The small-scale hydro projects range from 10 MW to 15 MW and all sit along the Toba Montrose transmission line in British Columbia.
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Energy Transfer Partners is raising approximately $1 billion in debt financing to construct two natural gas pipeline projects that will connect the Waha hub in Texas to the Mexico border.
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Talen Energy Corp. is running a sale process for over 1 GW of projects within the PJM Interconnection region.
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Talen Energy Corp. has launched a $400 million term loan B which will go toward financing its acquisition of MACH Gen. Talen executives held bank meetings in New York on Tuesday.
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ArcLight Capital Partners has emerged as the buyer of Tenaska Capital Management's portfolio of seven gas-fired merchant power projects in New York, Illinois, Ohio and Michigan.
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Fortistar has acquired two landfill gas projects totaling 11 MW from Green Gas Americas, after sealing $150 million in financing.
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A subsidiary of SunEdison is set to acquire the 40 MW Passadumkeag wind project in Maine from Quantum Utility Generation.
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A subsidiary of Blackstone is acquiring the 668 MW Somerset coal-fired project in Somerset, N.Y., and 312 MW Cayuga coal-fired project in Lansing, N.Y. from Upstate New York Power Producers.
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A newly formed portfolio company owned by Partners Group is buying a 25% stake from Competitive Power Ventures in its 800 MW Sentinel combined-cycle gas-fired project in Riverside County, Calif.
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NextEra Energy has sold $700 million in equity units, $300 million less than planned, as part of its funding strategy for the acquisition of Texas gas pipeline company NET Midstream.
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BNP Paribas has won the financial advisor mandate for Texas LNG's Brownsville LNG project in Texas.
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Dominion Midstream Partners, Dominion Resources' master limited partnership, is acquiring a 25.93% stake in the Iroquios Gas Transmission less than a week after its sponsor announced a $500 million investment in a SunEdison solar project.
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First Reserve is considering a bid for Petrobras’ gas pipeline operating subsidiary TAG, according to sources close to the situation.
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This week, Mexican energy infrastructure developer Fermaca's cfo Sergio Camacho spoke to Richard Metcalf, editor of PFR, about the Mexican project finance market, the recent financing of the El Encino-La Laguna gas pipeline and Fermaca’s long-term financing plans for the project.
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Magnolia LNG plans to launch an up to $3 billion debt financing for its project in Lake Charles District, La., in October, having secured its first offtake agreement last week.
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Pricing details have emerged on the financing of Fermaca’s El Encino-La Laguna gas pipeline project.
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Mexico’s Fermaca has secured financing from a group six banks for the $820 million El Encino-La Laguna gas pipeline project in Mexico.
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The Korea Development Bank has hired an experienced project finance banker from Mizuho as it seeks to bolster its presence in the Americas.
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Manuel Sanchez Ortega has left his position as ceo of Abengoato join BlackRock as managing director and head of strategic development for the company’s infrastructure investment group.
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Williams Cos. is weighing up potential acquisitions and asset sales as part of a strategic evaluation in the wake of an unsolicited $53 billion takeover bid by Energy Transfer Equity.
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Sempra Energy’s SoCalGas. is the fourth issuer to come to market in less than two weeks, ahead of an anticipated interest rate hike, with $600 million in a pair of first mortgage bonds.
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After 15 years at Duke Energy Progress, Bruce Barkley is exiting the company to join Piedmont Natural Gas as vp of regulatory affairs.
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At least three large utilities are coming to market this week against the backdrop of an expected rise in short-term interest rates during the fourth quarter.
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BHE Renewables is scouting the purchase of a partnership interest in a 251.6 MW natural gas-fired cogen facility in New York from GE Capital.
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In this exclusive, David Giordano, managing director at BlackRock discusses the company’s role in M&A transactions, the benefits of its partnership with EDF Renewable Energy, its burgeoning interest in greenfield renewable project investments, and the risks facing project finance players in parts of Latin America.
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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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Financers are eyeing a $4.1 billion deal backing a 700-mile natural gas pipeline in Peru.
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Mizuho has tapped three senior debt capital markets executives from Royal Bank of Scotland for its investment banking and capital markets subsidiaries.
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First Reserve and BlackRock have taken an equity stake in the PEMEX and IEnova Los Ramones II gas pipeline project in Mexico.
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Santander has sealed a $1.3 billion deal backing PEMEX and IENova’s Los Ramones II Norte pipeline in Mexico.
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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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As executive v.p. of North America utility and global wind for SunEd, Paul Gaynor is looking to leverage the new wind business over SunEd’s existing global reach. Senior Reporter Olivia Feld sat down with Gaynor to discuss his new role and strategy for wind projects at SunEd.
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Andrea Picott, managing director of loan sales and trading at Société Générale, has left the bank for Capital One in New York.
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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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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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The lack of PPAs and an abundance of capital are driving more lenders to participate in merchant and quasi-merchant deals.
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Dino Barajas, partner at Akin Gump Strauss Hauer & Feld, explores investor interest in Mexico's renewables sector and highlights related prospects and opportunities.
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Mona Dajani, partner at Baker & McKenzie, explains how a recent U.S. Federal Energy Regulatory Commission policy statement could, if adopted, have a significant impact on valuations of large regulated utility mergers and swaps of generation asset portfolios.
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The U.S. House of Representatives has passed a bill to expedite the approval process for liquefied natural gas export permits to countries with non-free trade agreements with the U.S.
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Prospective lenders are aiming to make commitments to PEMEX and IENova’s $1.3 billion financing backing their Los Ramones II Norte pipeline in Mexico.
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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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Deals and projects are lighting up several spots in Latin America this month, with U.S., Asian and Canadian entities making plays in the region.
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Sempra Energy affiliate IENova has won a tender under Comisión Federal de Electricidade to construct and operate a $300 million natural gas pipeline in Mexico.
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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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Welcome to the premiere edition of the Yieldco Sweep, an exclusive monthly feature that will track the performance and activity of key yield companies in the power sector with illustrative graphics and market insight.
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Mitsubishi UFJ Financial Group has climbed back to the top of mandated lead arrangers in power project finance in North America in the second quarter, lending $497 million during the period, according to PFR affiliate Dealogic.
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Renato Plastina has joined newly established asset manager Varagon Capital Partners as head of energy.
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A record number of entities participated in voting for Power Finance & Risk’s awards, recognizing excellence and innovation in the power project finance industry in 2013.
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Natural gas pipeline owner Fermaca Enterprises is issuing $527 million in 144A notes to refinance debt on the Tarahumara pipeline in Mexico’s Chihuahua state before it adds a compression station to increase capacity.
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Solar continues to make headlines this week, in both distributed generation and utility-scale, with SunEdison and SunPower nailing down financings.
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Juan Kreutz, executive director of energy in U.S. debt capital markets origination at BBVA, has moved to Sumitomo Mitsui Banking Corp. as executive director and group head of natural resources specialized finance.
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The #PowerTweets feature tracks trends in power project finance and M&A in the Americas on Twitter.
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Energy Capital Partners has closed its third fund at just north of $5 billion.
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In this week's round-up: Lenders anticipate boost from gas-fired greenfield and wind projects as well as acquisition financings.
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Harbinger Group has invested in Energy & Infrastructure Capital, a new platform that is looking to lend a range of debt to sectors, including power and midstream gas.
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Duke Energy and Piedmont Natural Gas have issued a request for solicitations for a natural gas pipeline to meet growing demand for the fuel in North Carolina. The companies expect to select a bid later this year.
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ArcLight Capital Partners-subsidiary NET Midstream has closed a $665 million financing backing the U.S. situated section of the Los Ramones natural-gas pipeline.
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ArcLight Capital Partners affiliate NET Midstream is looking to launch a syndication of roughly $500 million in debt backing its NET Mexico gas pipeline in Texas.
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ArcLight Capital Partners affiliate NET Midstream is looking to launch a syndication of roughly $500 million in debt backing its NET Mexico gas pipeline in Texas.
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Pemex has split the Los Ramones II pipeline project and awarded mandates to Sempra and GDF Suez joint ventures.
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PFR Managing Editor Sara Rosner sat down with Marathon Capital’s Ted Brandt, Gregg Elesh, Terry Grant and Wendy Carlson to discuss the shop’s take on wind, solar and thermal trades in the second installment of this Q&A.
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The Lake Charles liquefied natural gas export project, with a price tag of potentially $11 billion, is being eyed by banks and lenders after receiving approval from the U.S. Department of Energy.
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Tenaska Capital Management has hired Michael Flinn as a senior v.p. in Houston as part of the private equity shop’s strategy to expand its midstream investment business.
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In the second installment of this Q&A, Jonathan Lindenberg, head of project finance in the Americas at Bank of Tokyo Mitsubishi-UFJ discusses liquefied natural gas project landscape, prospects for renewables and potential challenges in project finance. Senior Reporter Nicholas Stone sat down with Lindenberg at the bank’s office in New York.
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In the post-crisis world, Bank of Tokyo Mitsubishi-UFJ has emerged as arguably the top shop for power financing.
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A joint venture between Sempra Energy and Mexican oil and gas monopoly Pemex has tapped Bank of Tokyo Mitsubishi to lead a $500 million deal to lever up its Gasoductos de Chihuahua pipelines in the north of Mexico.
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The third phase of a natural gas pipeline, between Texas and Mexico, has a raft of developers and financiers circling the request for proposals issued by Pemex.
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Capital will be needed to develop natural gas pipelines in Mexico, a move arising out of the country looking to import shale gas from the U.S., said panelists at Euromoney’s Mexican Energy and Infrastructure Finance Forum at the JW Marriott in Mexico City on June 25.
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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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Sumitomo Mitsui Banking Corp. has hired Carl Adams, head of structured finance at Banco Espirito Santo, as managing director and head of Latin America.
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In this week's round-up: Capacity pricing results may stoke M&A in PJM while project financiers are grappling with how to open the market to real estate investment trusts.
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Goldman Sachs is preparing a push into project finance and has hired Jean-Pierre Boudrias, director at Credit Suisse, to head the effort.
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In this week's round-up: Hydro is poised to continue its steady stream of deals while distributed generation solar developers gain traction from companies looking for expansion.
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Kinder Morgan Energy Partners plans to issue $1 billion of senior unsecured notes to help finance its $21.1 billion acquisition of El Paso Corp. and $3.9 billion purchase of Copano Energy.
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Constellation completed a 5.7 MW solar project in Lake County, Ore., that has a power purchase agreement with Portland General Electric.
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The use of coal-fired generation in November showed a 6.2% increase year over year, the such increase since December 2009 against December 2010, according to a report from the U.S. Energy Information Administration.
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A California Senate committee on energy and utilities will meet Monday to determine whether the state should focus on building generation or increasing energy efficiency.
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The Maine Public Utilities Commission approved Statoil’s proposed $120 million, 12 MW offshore wind project about 12 miles off of Boothbay Harbor.
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The Arizona Corporate Commission eliminated tax incentives for commercial-scale solar projects from a proposed Tucson Electric Power plan, saying the utility had already met its commercial renewable energy goals for the next few years.
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In this week's round-up: Three gas-fired assets are primped to be sold while LatAm draws eyes and industry officials in Canada wonder whether the project finance market is deep enough.
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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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Cameron LNG, an affiliate of Sempra LNG, is lining up lenders to finance its liquefaction natural-gas export facility along the Calcasieu Channel in Hackberry, La.
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Project finance deal flow slowed to a trickle in the third quarter and bankers and utility executives gathered at the Edison Electric Institute's Financial Conference in Phoenix to discuss the changing fuel mix and other trends.
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Coal-fired plant shutdowns and resistance to nuclear-fired generation, against a backdrop of cheap natural gas, is pushing the industry toward a gas-heavy generation mix.
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Midstream gas companies are bringing forward planned bond issuances to tap a favorable market following the lead of El Paso Pipeline Partners.
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Sempra Energy is talking with prospective advisors about selling its unregulated gas-fired and solar generation as it looks to hone its core operations under its subsidiary Sempra U.S. Gas & Power down to natural gas distribution and pipelines.
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Sponsors and developers are looking to establish master limited partnerships as a means for financing midstream and natural gas liquefaction assets.
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The U.S. Federal Energy Regulatory Commission may need to issue a rulemaking to facilitate the communication and schedule synchronization between natural gas suppliers and power generators as the industry increases its reliance on gas-fired generation, according to Philip Moeller, a FERC member.
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Fortress Investment Group is trying to corral prospective investors into a planned energy mezzanine fund.
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Fortress Investment Group is trying to corral prospective investors into a planned energy mezzanine fund.
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Babson Capital Management, with $142 billion in assets under management, is launching an energy finance group
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Enbridge is working to establish a green energy platform ranging from geothermal and concentrated photovoltaic to hydro and energy storage that is an earnings contributor, Chuck Szmurlo, v.p. alternative and emerging energy in Calgary, told PI.
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Cheniere Energy is finalizing roughly $3.4 billion in commitments for an A term loan backing its Sabine Pass gas liquefaction project in Sabine Pass, La., and has also nixed a $2 billion B loan package.
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Waqar Zaidi, director of business development renewable energy at Enbridge, has exited the firm.
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Leads Credit Suisse and Société Générale have kicked off a $2 billion financing backing Cheniere Energy Partners’ acquisition of a gas pipeline and also providing lending capacity to its liquefied natural gas project Sabine Pass.
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Houston company Spectra Energy Corp. is working to secure regulatory approval for a new natural gas pipeline that will run from Tennessee to Georgia.
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Barack Obama’s administration has proposed further funding for renewable and pipeline development as part of the administration’s 2013 budget plan, designating $27.2 billion for the Department of Energy.
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The market for new assets was in the doldrums during the last months of 2011—little more than two dozen generation facilities hit the market in the fourth quarter, a 60% drop from the same period in the prior year, according to exclusive data from PI’s Generation Sale Database.
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New Jersey environmental groups are attempting to block the construction of a natural gas pipeline to be built beneath the Raritan River.
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ArcLight Capital Partners will scope more midstream investment opportunities for its recently closed $3.3 billion fund and keep power to about half of its commitments, Daniel Revers, managing partner, told PI in an exclusive interview.
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Ruby Pipeline, a joint venture between El Paso Corp. and Global Infrastructure Partners, is looking to issue $1.075 billion in bonds as part of a larger refinancing of debt on the 680-mile interstate pipeline.
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El Paso Corp. must pay Kinder Morgan $650 million if their proposed $21.1 billion merger is thwarted.
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Barclays Capital is gearing up to syndicate a portion of the $11.5 billion financing commitment it is providing to Kinder Morgan to fund its $38 billion purchase of El Paso Corp., Richard Kinder, president of KMI, says on a conference call hosted by the companies.
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Kinder Morgan is buying El Paso Corp. for $21.1 billion in cash and stock to form a merged company that will become the largest operator of gas pipelines in the U.S.
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The country doesn’t have enough natural gas pipelines to switch swaths of its generation fleet from coal-fired to gas-fired as quickly as federal officials want, says Tom Fanning, ceo of Southern Co.
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Access Capital Advisers, an Australian infrastructure investment manager, is looking to invest $1 billion in the U.S. and globally on behalf of Australian pension funds.
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Lenders are preparing financing proposals for developers’ bids in response to Mexican state-owned utility Comisión Federal de Electricidad’s calls for more than $1 billion of projects.
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U.S. Renewables Group has launched its debut mezzanine debt fund for solar and wind investments.
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A National Transportation Safety Board report faulted Pacific Gas & Electric for the pipeline explosion near San Bruno, Calif., last September, citing deficiencies in operations and using faulty equipment.
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More than 70 assets changed hands in the second quarter, marking the busiest period for mergers and acquisitions in the power sector in several years.
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Sempra Energy affiliate Sempra Pipelines & Storage and Pemex, the Mexican state-owned oil company, are talking to bankers about a roughly $400 million deal that will take out an existing credit supporting roughly 70 miles of gas pipelines in Tamaulipas, Mexico.
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GE Energy Financial Services is looking to take stakes in early-stage gas-fired, renewables and midstream projects in an effort to boost the number it finances each year.
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El Paso Corp. is talking with at least 14 lenders about replacing three credit facilities totaling roughly $3.25 billion.
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EQT Corp. is selling a 68-mile natural gas pipeline in eastern Kentucky to raise capital for its plans for gas extraction from Marcellus Shale.
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In addition to being the largest non-renewable power related financing of the year, the syndication element in the Ruby deal stands out among the club trend that has dominated the project finance market since the 2008 financial collapse.
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The U.S. Department of Energy’s loan guarantee programs have survived a 2011 Congressional budget bill, albeit with smaller allocations and some different rules.
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Bankers are expecting El Paso Corp. to refinance a $1.5 billion loan backing its Ruby Express Pipeline before pricing on a the seven-year loan steps up to 375 basis points over LIBOR from 300 bps.
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