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  • The Carlyle Group cut its $750 million fundraising goal for its first Middle East and Northern Africa fund to $500 million due to global economic difficulties.
  • El Paso is looking for commitments by March 31 from relationship banks interested in joining the $350 million financing for its Elba Express pipeline.
  • AES is seeking a joint venture partner for AES Wind Generation as it struggles to fund a capital-intensive development pipeline.
  • Energias de Portugal subsidiary Energias do Brasil is close to securing $1.2 billion in long-term financing for a coal-fired plant in the northern Atlantic state of Ceara, Brazil.
  • Calyon and WestLB have been selected by Astoria Energy II to lead financing of its $1.1 billion, 500 MW gas-fired project in Queens with commitments said to be more than $100 million each.
  • Creststreet Asset Management will launch an offshore fund before the month is out which will mirror the strategy of its flagship long/short market-neutral Creststreet Alternative Energy Fund.
  • Hvalstad, Norway-based Langlee Wave Power is seeking investors in London and Scandinavia for its first tidal project, set to begin this fall.
  • Sterling, Va.-based Generation Energy is talking to potential strategic partners for a 42 MW wind project in the Oklahoma Panhandle.
  • Joint venture Gemini Solar will look to line up non-recourse project financing before the end of this year for its 30 MW photovoltaic solar project near Austin, Texas. The total cost is about $200 million.
  • Utilities say renewable portfolio standards are unlikely to be met in the near-term, and charge that the cost to meet those goals, including a cap-and-trade system and new infrastructure, is not fully understood by regulators.