News

Solar developer Órigo Energia has raised R$600 million ($107m) in green debentures for distributed solar generation in Brazil.

Voyager Midstream is acquiring a portfolio of Texas and Louisiana-sited natural gas gathering and processing assets from Phillips 66.

Puget Sound Energy (PSE) has signed a power purchase agreement with Douglas County PUD for power from the 840MW Wells Hydroelectric Project.

NGL Energy Partners' executive vice president and general counsel, Kurston McMurray, has resigned from his position at the company.

State-owned utility ENEE (Empresa Nacional de Energía Eléctrica) has launched an international auction for the installation of a battery energy storage system in Honduras.

EnCap portfolio company Linea Energy has secured $145 million in a corporate revolving credit facility to support its 4GW solar, wind, and battery project pipeline across the US.

Doral Renewables has secured $285 million in project financing from a consortium of banks for the second part of its 1.3GW solar project in Indiana.

Fintech platform Crux has hired Andrew Hsiung, a former Blackrock VP of alternative investments, as its capital markets and solutions finance lead.

Energy generation and trading company Comerc Energia has formed an energy trading joint venture with ethanol and sugar producer Copersucar.

The $300 million business combination between One Power Company and special purpose acquisition company (SPAC) Tortoise Ecofin Acquisition Corp. III has been terminated, PFR has learned.

BTG Pactual affiliate Engelheart Commodities Trading Partners has closed on its acquisition of global energy and technology company Trailstone Group from private equity fund manager Riverstone.

Spanish renewables developer Grenergy is adding a battery storage project to its development pipeline in Chile.

CenterPoint Energy subsidiary Southern Indiana Gas and Electric Company (SIGECO) entered into a $325 million bond purchase agreement in part to fund the acquisition of the 228MW Posey solar project.

The Department of Energy (DOE) has awarded $62 million to 20 projects focused on research, development, and deployment of next-generation green hydrogen technology.

Pennsylvania state senator Gene Yaw has proposed a bill that would create a development fund based on the $10 billion Texas Energy Fund (TEF) for dispatchable energy to support the state's grid.

Google is planning to build its second data centre facility in Latin America.

The Public Utilities Commission of Texas (PUCT) has selected 17 projects totalling $5.38 billion to advance to the next round of the review process for the Texas Energy Fund (TEF) grant program.

Brazilian development bank BNDES has approved R$1.14 billion ($202m) in financing for 2 solar complexes in Brazil.

The Bureau of Ocean Energy Management (BOEM) has finalised 2 floating offshore wind areas off Oregon and announced the date for its upcoming auction in October.

SunPower's $45 million asset sale to Complete Solaria has received approval from a US bankruptcy court judge.

Oneok has agreed to acquire Global Infrastructure Partners’ (GIP) interests in EnLink Midstream and Medallion Midstream for $5.9 billion.

Peruvian investment promotion agency ProInversión has awarded 5 transmission projects in its latest auction to Alupar Perú.

The Bureau of Ocean Energy Management (BOEM) is exploring offshore wind options off the coast of Hawaii and the US territory of Guam.

Eneva has secured R$1 billion ($177 million) in financing for a gas-fired power plant the company is developing in Brazil.

American Electric Power subsidiary Public Service Company of Oklahoma has an agreement with J-Power to acquire a 795MW combined-cycle power generation facility, PFR has learned.

CenterPoint Energy is proposing to invest around $5 billion from 2026 to 2028 on grid resiliency in the aftermath of damage caused by Hurricane Beryl.

Maxeon Solar Technologies’ chief financial officer, Kai Strohbecke, will leave the solar manufacturing company 31 August (2024).

Mexico Pacific has signed a sales and purchase agreement with Korean energy trading company POSCO International for the company’s LNG terminal in Sonora, Mexico.

CPS Energy has signed storage capacity agreements with Eolian for 2 Texas battery storage projects totalling 350MW/1,400MWh.

EDF Renewables North America has closed on the initial phase of the sale of 50% of its Desert Quartzite solar-plus-storage project in Riverside, California.

Scala Data Centers has signed the Latin America's largest renewable energy supply agreement with Serena Energia.

Nikola Corporation, the sustainable transportation and infrastructure solutions provider, has appointed Thomas Schmitt as its chief commercial officer.

TCW Group has closed on the sale of its 19.64% stake in the Homer City Generation project to funds managed by distressed asset-focused investor Knighthead Capital Management, PFR has learned.

National Storage Affiliates Trust (NSA) and Solar Landscape have teamed up to develop at least 100MW of solar capacity.

State-owned Empresa Provincial de Energía de Córdoba (EPEC) is partnering with renewables developer Coral Energía on a portfolio of solar assets in Argentina.

Nu:ionic Technologies and HybriGenix Futures have signed a memorandum of understanding (MoU) to develop a clean power and hydrogen facility in Edmonton, Alberta.

Brazilian transmission company Taesa has named Rinaldo Pecchio Jr as chief executive of the company.

Invenergy and Lafayette Square-owned joint venture, Reactivate, has hired Corey Stein as executive vice president of finance.

AES Andes has received the greenlight from Chile’s Environmental Evaluation Service to proceed with a $800 million hybrid project.

Alternus Clean Energy subsidiary ALT US 01 has hit a possibly indefinite delay in its agreement to acquire 100% of the membership interests in Japanese Taiyo Green Energy’s portfolio of US solar parks.

Industrial gases and engineering company Linde has agreed to invest $2 billion in a clean hydrogen project in Alberta, Canada.

Standalone storage development in Chile has arrived with project financing deals finally closing in the last 2 months. The age of battery storage comes as Chile remains riddled with curtailment issues, high exposure to zero marginal cost and price decoupling, especially in the north of Chile.

US-based LS Power has reached final close on its fifth power and energy fund at $2.7 billion, above a $2.5 billion target.

Talen Energy Corporation has received its final $300 million payment from Amazon Web Services in connection with the sale of its Pennsylvania-based Cumulus Data Centre.

Brazil’s National Electric Energy Agency (Aneel) has confirmed the September transmission auction but has withdrawn lot 2 from the original set of projects to be tendered.

Brazilian utility Cemig is planning to issue R$2 billion ($363m) in debentures for its distribution business, Cemig-D, on 15 September 2024.

The Tennessee Valley Authority (TVA) board of directors has approved an additional $150 million to fund TVA’s small module nuclear reactor (SMR) initiative at its Clinch River site in Tennessee.

Renewables developer Arevon Energy will look to start financing its Avocet Energy Storage Project in Q1 2025 after securing permitting and signing an interconnection agreement, PFR has learned.

Evergy, the Kansas and Missouri utility company, has hired W. Bryan Buckler as the company’s executive vice president and chief financial officer, effective October 1, 2024.

Meyer Burger has halted plans to develop a solar cell production facility in Colorado Springs, Colorado and announced restructuring measures.

The Superintendency for the Development of the Northeast (Sudene) has released R$267 million ($49m) to finance renewable projects in Brazil.

Sage Geosystems has partnered with Meta to develop 150MW of geothermal energy projects to support Meta’s new data centre projects in the eastern US.

Clearway Energy Group has closed a $550 million construction loan with a consortium of banks for a 140MW/118MW solar-plus-storage project in California.

YPF Luz has signed a memorandum of understanding with McEwen Mining to exclusively supply renewable energy to a mining project in Argentina.

CleanCapital and Arena Renewables have partnered to develop a portfolio of community and C&I solar projects in grid-critical areas in Illinois, Maryland, and other parts of the US.

Spanish renewables developer X-Elio is planning to develop a 94MW solar-plus-storage project in Chile.

Bioenergy Devco, a waste-to-energy developer, has hired Michael Woodward as president and Dain Santarelli as chief operating officer.

CPFL Energia is partnering with cement maker Mizu Cimentos to develop a green hydrogen plant in Rio Grande do Norte, Brazil.

Spanish renewable energy-focused investment platform Qualitas Energy is looking to finance a portfolio of renewable assets in Chile, PFR understands.

Allete shareholders have approved the company’s pending transaction to the Canada Pension Plan Investment Board (CPPIB) and Global Infrastructure Partners for $6.2 billion.

The California Public Utilities Commission (CPUC) has approved a decision that instructs the Department of Water Resources (DWR) to procure up to 10.6GW power.

Offshore wind port infrastructure developer Clean Energy Terminals (CET) has hired Sloane Perras as its chief legal officer.

Georgia electricity cooperative Oglethorpe Power has closed on its acquisition of the Walton County Power Plant from Carlyle affiliate Mackinaw Power, PFR has learned.

Green hydrogen developer Victory Clean Energy has signed a $100 million deal to use green hydrogen production technology of Proton Power.

Steel manufacturer ArcelorMittal and renewables developer Casa dos Ventos are extending their partnership in Brazil with a solar project.

Israeli renewable-focused fund Windin Capital is set to close financing for a wind farm the company owns in Chile, PFR understands.

Brazilian fuels distributor Vibra Energia has entered an agreement to acquire the remaining shares in energy generation and trading company Comerc Energia.

BW Solar has closed on the sale of a 12-project New York community solar portfolio totalling 76.7MW to solar and battery storage developer Catalyze.

Biofuels producer and developer FutureFuel has hired former DSM executive Roeland Polet as its chief executive, effective 3 September 2024.

SolarBank is planning to develop a 6.41MW ground-mount solar power project called the East Bloomfield project in New York.

Deriva Energy has secured the domestic content bonus credit and the energy community tax credit bonus for the North Allegheny Wind, Pennsylvania.

Arevon Energy is readying for financial close on the 60MWac Heirloom Solar Project in Pike County, Indiana.

Toyota Tsusho America has closed the financing for the 159MW Norton Solar Project in Runnels County, Texas which is being constructed by Avantus.

Bernhard Capital Partners’ acquisition of Entergy's Louisiana gas systems has been approved by the Louisiana Public Service Commission.

American food manufacturing giant Nestlé is to purchase the renewable energy attributes from Enel North America’s Stampede solar-plus-storage project, as well as fund the project as the sole tax equity investor.

Vestas and Brazilian renewables developer Renobrax are planning to develop a wind project in the state of Rio Grande do Sul in Brazil.

Sustainable infrastructure investment manager Generate Capital has closed a $64 million investment from KeyState Renewables for community solar in New York.

German renewables developer Uka Group has received approval to move ahead and start construction of its Llanos de Rungue solar project in Chile.

Swift Current Energy has closed on a tax equity investment from Google for its 800MW Double Black Diamond Solar project in southern Illinois.

Scout Clean Energy has hired Kris Cheney as chief development officer. Prior to this role Cheney spent 15 years at EDP Renewables North America.

US-based community solar company Nexamp has teamed up with Trajectory Energy Partners to acquire a 7MW solar portfolio in Illinois.

Atlas Renewable Energy has inked an agreement to form a joint venture with steel manufacturer ArcelorMittal in Brazil.

Entergy Arkansas is to make its final $20 million payment to Invenergy as its acquisition of the developer’s 100MW Walnut Bend Solar project nears close.

Boralex has closed a $95 million financing for the 52MW Témiscouata II wind farm in Quebec.

Elera Renováveis has agreed to sell a project in its Irapuru solar complex in Brazil to food producer Minerva.

Guzman Energy, a wholesale power provider in the US, has made changes to its leadership, bringing in industry veteran John Foster as executive chair and Michael Ott as chief financial officer.

Energix Renewables has signed a long-term agreement with Google that will see the technology giant offtake power and renewable energy credits (REC) from solar projects.

Arevon Energy has signed its third environmental attributes purchase agreement with technology giant Meta.

Scala Data Centers has raised R$1.37 billion ($250m) in green debentures for the company’s SGRUTB09 data centre in Brazil, the largest in Latin America.

Solar and storage developer MN8 is purchasing a solar portfolio sited in the northeastern US from international power business Vitol, PFR has learned.

Santiago-based renewables developer Biwo Renovables is adding another standalone battery energy storage system (BESS) project to its development pipeline in Chile.

Competitive Power Ventures (CPV) Group will sell 33% of its affiliate CPV Renewable Power to real assets-focused investment management firm Harrison Street for $300 million, PFR understands.

Madison Gas & Electric (MGE) is acquiring 176MW solar and battery energy storage system (BESS) capacity for an estimated $351 million, PFR has learned.

Fundraising for infrastructure funds globally was challenging in H1 2024, with data from sister publication IJInvestor revealing that $57.85 billion was raised by 40 funds that hit final close. North America-focused funds too have not been popular among investors over the last 2 half years, representing just 11% of capital raised.

Houston-based Alpha Omega Power, the utility-scale battery storage developer, owner, and operator, has hired Luke Shillington as chief development officer.

German developer Soventix is planning a solar-plus-storage project in Chile.

Asian private investment firm PAG has subscribed to $200 million in aggregate principal amount of convertible notes issued by Canadian Solar.

Eversouce Energy’s Huntsbrook Offshore Wind (OSW) Hub project has been awarded a Department of Energy (DOE) grant of $89 million.

Distributed clean energy company Onyx Renewables has hired former Scout Clean Energy executive Eileen Stone as senior vice president (SVP) of M&A.

YPF Luz has signed a power purchase agreement with telecommunications company Claro in Argentina.

CenterPoint Energy has issued an all-source request for proposals (RFP) for power projects in order to meet the energy needs of its 150,000 electric customers in southwestern Indiana.

Middle-market infrastructure investment firm NOVA Infrastructure has completed the purchase of community solar and battery storage business UGE International.

Corio Generation has signed a memorandum of understanding with offshore construction business Estaleiros do Brasil (EBR) for the development of offshore wind generation in Brazil.

esVolta has hired Justin Johns, formerly the chief financial officer of Shell's SouthCoast Wind Energy offshore wind joint venture, as senior vice president and CFO.

California-based Natron Energy plans to develop a $1.4 billion utility-scale battery manufacturing plant in North Carolina.

Technology giant Meta plans to use long-term virtual power purchase agreements (VPPA) with RWE to offset energy from its MISO-sited data centres, PFR has learned.

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).

Renewable energy company Ormat Technologies has signed a pair of 7-year tolling agreements with Equilibrium Energy for its battery energy storage (BESS) facilities in Texas.

Birch Creek Energy has closed project financing for a Missouri solar farm with Celtic Bank and West Town Bank & Trust.

Tucson Electric Power (TEP) is planning a 200MW battery energy storage system in southeast Tucson, Arizona.

Solar developer Brasol has acquired a portfolio of distributed generation solar assets in Brazil from developer BC Energia.

rPlus Energies has signed a power purchase agreement (PPA) for its Pleasant Valley Solar II project in Idaho with Idaho Power and Meta, PFR has learned.

Greenbacker Renewable Energy has acquired the 685.2MW Cider solar farm for an estimated purchase price of $54.3 million from Hecate Energy, PFR has learned.

Renewable operator and developer Deriva Energy has hired John Clapp, the former chief financial officer of Scout Clean Energy, as its chief executive.

Avangrid has executed its second short-term virtual power purchase agreement (VPPA) with Statkraft for a 35MW wind farm in Pennsylvania.

Atlas Renewable Energy has raised close to R$1.5 billion ($274m) in bonds to finance its Luiz Carlos solar complex in Brazil.

Danish energy giant Ørsted reported $575 million in impairment losses during Q2 2024, partially caused by the construction of its 704MW Revolution Wind project and the cancellation of New Jersey Ocean Wind projects.

Winston & Strawn has added energy-focused lawyers Kevin Brophy and Ming Lei as partners to the firm’s Houston office and as members of the transactions department.

US solar manufacturing company Ebon Solar has announced its plan to develop a nearly $1 billion PV manufacturing plant in Albuquerque, New Mexico.

Avangrid Renewables has entered a sale-leaseback deal with Huntington National Bank for the Wasco County, Oregon-sited 140MW Daybreak Solar facility and its associated transmission assets, PFR has learned.

Equinor and Dominion have been named the provisional winners of the Central Atlantic offshore wind lease area tender, totalling $93 million.

Brazilian utility Cemig has closed the sale of its 45% stake in energy company Aliança Energia to mining company Vale.

Enlight Renewable Energy subsidiary Clenera has closed its sale-leaseback agreement for the 300MW Atrisco battery energy project with the City of Rio Rancho, New Mexico, PFR has learned.

RWE has executed long-term power purchase agreements (PPAs) with Meta for solar farms in Illinois and Louisiana.

Prumo Logística and Norwegian renewables company Fuella have signed an area reservation contract for the newly-licensed green hydrogen hub at the Porto do Açu complex.

Celeo has secured a $100 million bridge loan from Germany’s KfW IPEX-Bank for a portfolio of transmission projects in Chile.

North American energy development, investment and operating company LS Power has established an independent power producer named Lightning Power.

CDPQ has invested $158 million with professional services firm WSP Global to fund its acquisition of US energy consulting firm POWER Engineers.

Atlas Renewable Energy has closed a $289 million financing for the company’s BESS del Desierto project in Chile, marking the company's first financing for standalone batteries in Chile.

rPlus Energies is seeking financing for its Pleasant Valley Solar II project in Idaho, PFR has learned.

The Bureau of Ocean Energy Management (BOEM) has finalised its environmental assessment of the lease areas in the upcoming Oregon floating offshore wind energy auction.

Swiss fund manager SUSI Partners has made an investment into a portfolio of battery storage projects, expanding the firm’s partnership with Chilean developer BIWO Renovables.

Sage Geosystems has entered into a land use agreement with San Miguel Electric Cooperative (SMECI) for its first-of-a-kind Geopressured Geothermal System (GGS) project in Texas.

Decarbonisation technology developer 8 Rivers Capital has partnered with Siemens Energy to develop carbon capture turbines.

ING and Investec will provide Voltera, the developer, owner, and operator of charging infrastructure for the EV fleet, with a first–of–its–kind $100 million debt facility to fund the rollout of charging sites around the US.

Residential solar developer Terra Energy has landed a MXN$500 million ($26m) loan from Beel Infrastructure Partners in Mexico.

Fortis-owned Tuscon Electric Power Company (TEP) of Arizona has offered $400 million in 5.2% senior notes due 2034.

Spanish renewables developer Grenergy reached financial close in July 2024 for the first 2 phases of its Oasis de Atacama solar-plus-storage project in Chile, the largest storage project in the world according to the company.

Infrastructure and construction company HYCSA Group is launching an energy and sustainability division, HYCSA Green Capital, operating in Mexico.

Peru’s investment promotion agency ProInversión is set to award 3 projects totalling $101 million in investments in December (2024).

EmberClear Management has submitted loan applications for 1.8GW peaking plants to the Texas Energy Fund.

Onyx Renewable Partners has partnered with Telyon, a turnkey renewable developer, to develop 40MW of commercial and industrial (C&I) solar in the US.

Marubeni Power Corporation will sell its 25% stake in a 775MW Maryland gas-fired combined cycle plant to OPC Energy, PFR has learned.

Shell Energy’s subsidiary Prime Energy has signed a renewable power purchase agreement with a sanitation company in Brazil.

Summit Ridge Energy has sold $40 million in transferable tax credits from a Virginia community solar project via the tax credit transfer platform Reunion.

Qcells has received a $1.45 billion conditional loan commitment from the Department of Energy (DOE) for its 3.3GW Georgia solar panel supply chain manufacturing facility.

Electrochemical technology company Twelve has closed a $45 million over 2 financings led by Fundamental Renewables and SMBC to develop and produce sustainable aviation fuel (SAF).

AES Indiana plans to invest $1.1 billion in repowering energy projects throughout the state by 2026, including replacing 2 coal-fired units at the Petersburg Generating Station.

LS Power has agreed to acquire the renewable energy business of Algonquin Power & Utilities for a total consideration of up to $2.5 billion, excluding debt.

Argentine aluminum producer Aluar is expanding its wind farm with 336MW of additional capacity.

HIF Global has received a $36 million equity commitment from the Japan Organization for Metals and Energy Security (JOGMEC) through Idemitsu Efuels America Corp.

Renewables developer 360Energy has signed a power purchase agreement with packaging manufacturer Smurfit Westrock in Argentina.

rPlus Energies is looking to syndicate its $1.1 billion financing for the 400MW/1.6GWh Green River Energy Centre that closed last month, PFR has learned.

Ørsted has partnered with renewable developer Mission Clean Energy to develop 4 standalone battery storage projects, totalling 1GW, across the midwestern US.

Manulife Investment Management has invested $250 million into Hunt Energy Network to develop and operate dispatchable power resources in ERCOT.

Leonid Capital Partners, a credit investment manager, has provided a $12 million revolving line of credit to nuclear waste-to-energy developer Zeno Power.

Radial Power has agreed to acquire 4 community solar projects totalling 22.3MW from Galehead Development.

Southeast PowerGen has closed on sale of its MPC Generating and Sandersville gas-fired sites to Gulf Pacific Power, PFR has learned.

Pivot Energy and Microsoft have created a 5-year partnership to develop 500MWac of community solar projects across the US.

Brazilian development bank BNDES has approved a R$1.394 billion ($248m) financing for RGE Sul Distribuidora de Energia (RGE Sul), a utility operating in the state of Rio Grande do Sul.

Standard Chartered has invested $235 million in a Texas solar modular factory being developed by global renewable company Trinasolar.

Spain’s Acciona has agreed to acquire Darby International Capital’s transmission business in Peru.

Ares Management is selling the St Joseph Energy Center a greenfield natural gas-fired combined-cycle power plant in New Carlisle, Indiana, PFR has learned.

JERA Nex has purchased Lightsource BP’s 395MWac portfolio of Arkansas and Louisiana solar projects as it makes its debut in the US renewables market.

Greenbacker Capital Management has invested in newly formed 3V Infrastructure, a US-based EV charging infrastructure owner and operator.

Origis Energy has inked a $71 million tax equity financing from US Bancorp Impact Finance for its Rice Creek Solar project in Florida.

Argentine renewables developer Eoliasur is planning a $607 million battery energy storage system (BESS) in Chile.

Bernhard Capital Partners (BCP) yesterday (5 August) agreed to acquire New Mexico Gas Company (NMGC) from Emera in a deal worth $1.25 billion.

The US Federal Energy Regulatory Commission (FERC) has approved UK private equity firm Bridgepoint's 19.9% acquisition of New Jersey-based Energy Capital Partners (ECP).

Aypa Power has closed a $323 million financing led by ING Capital for its 150MW/600MWh Kuna energy storage project outside of Boise, Idaho.

Summit Ridge Energy and HASI have signed a $309 million financing for a portfolio of 80 operating community solar assets in Illinois and Maryland, totalling 218MW, the pair co-own.

rPlus Energies has hired the former senior VP of capital markets at Clearway Energy Group, Natalie Jackson, as CFO.

J-Power is selling its stake in the Tenaska Virginia Generating Station, PFR has learned.

SunPower, once a giant in US residential solar technology and energy services, has filed for bankruptcy following months of financial difficulties.

Brazilian sugar and ethanol producer São Martinho has requested a loan from the International Finance Corporation (IFC) for a biomethane project.

The Department of Energy has awarded $2.2 billion in the second round of its Grid Resilience and Innovation Partnerships (GRIP) program to 8 projects that seek to strengthen transmission lines and expand grid capacity.

Renewables developer Genneia has inked a power purchase agreement with industrial food manufacturer Molino Argentina for renewable power in Argentina.