Onshore wind
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NexEra Energy will sell 100% of the class B preferred interest in its clean power subsidiary Nitro Renewables to Blackstone.
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Clearway Energy Group has closed a $261 million project financing by a consortium of banks to repower its 160MW Cedro Hill wind farm in Texas.
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The New York State Energy Research Development Authority (NYSERDA) has launched its 8th annual request for proposals for onshore, large-scale renewable energy projects.
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Pattern Energy has signed a 30-year PPA with Hydro-Québec for its 150MW Broughton Wind project, located in Québec.
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Abraxas Power has selected McDermott as its EPC contractor for the Exploits Valley Renewable Energy Corporation (EVREC) project in Newfoundland and Labrador, which will be Canada's first commercial green hydrogen project.
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Japanese corporate Itochu has made the first investment from its North America renewables-focused fund Overland Capital Partners.
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Lotus Infrastructure Partner has closed its acquisition of PNE USA, with the developer rebranded as Allium Renewable Energy.
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Avangrid has signed a power purchase agreement (PPA) with CPS Energy for 161MW of the Peñascal I wind farm in Kenedy County, Texas.
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Hydro-Québec has revealed plans to add 10GW of wind generation over the next decade, including several First Nations-owned 1GW-sized projects.
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The California Independent Systems Operator (CAISO) has approved 2 major transmission initiatives for the state: 26 projects to help support the state's offshore wind capacity and Pattern Energy's SunZia Project tie-in to the state's grid.
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Hydro-Québec has signed a power purchase agreement (PPA) for the full capacity of electricity generated by the 300MW Peshu Napeu wind project.
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Former Ørsted executives have merged their independent development companies, Cold Water Renewables and Greenbelt Renewable Energy, to create a utility-scale wind, solar, and storage company.
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Renewables operator ERG has closed on its acquisition of a 75% stake in a 317MW solar and wind portfolio with Apex Clean Energy.
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The Nordex Group and has appointed Manav Sharma as chief executive, North America to lead the wind turbine maker’s expansion in the US.
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Greenbacker Renewable Energy Company has closed its sale-leaseback deal with Huntington National Bank, securing $437 million to finance the repowering of a 3 asset wind portfolio.
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Clearway Energy Group has closed a $174 million project financing and finalised a power purchase agreement (PPA) for its Dan's Mountain wind farm in Western Maryland.
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HASI has amended and extended its corporate unsecured credit facility with 14 banks to $1.65 billion, including a revolving line of credit, term loan A, and Green Commercial Paper Note Program (CarbonCount Green CP).
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Colorado-based renewables company Scout Clean Energy has signed a 12-year virtual power purchase agreement (VPPA) with Zoetis for a 50MW portion of its Heart of Texas wind farm.
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Nova Clean Energy has acquired HyFuels, a 1GW mid-to-late-stage wind and solar development that also contains an early-stage green ammonia project on the Texas Gulf coast.
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NextEra Energy has entered into an offtake agreement with wholesale power provider Guzman Energy and local electric cooperative Holy Cross Energy (HCE) for 100% of the capacity of its 200MW Bronco Plains II wind project in Colorado.
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Copenhagen Infrastructure Partners (CIP) has acquired Liberty Renewables and its 1.3GW pipeline of onshore wind projects in New York State.
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Spanish infrastructure builder and operator Elecnor won approval to build a 284MW wind farm and associated infrastructure in the Chilean region of Los Lagos.
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EDF Renewables Brasil and Serena Geração have completed the share swap of their stakes in the Pirapora Solar Complex and the Ventos da Bahia wind farm.
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Ørsted, Avangrid, and Vineyard Offshore among bidders of the 6GW to Massachusetts, Connecticut, and Rhode Island for the states' combined New England auction.
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Natixis Corporate & Investment Banking has closed a $900 million letter of credit with Invenergy to fund its project development pipeline of utility-scale wind and solar projects, as well as battery storage systems.
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InfraRed Capital Partners has closed its purchase of shares in 2 utility-scale onshore renewables projects from Shell's US subsidiaries, Shell Windenergy and Savion, for $166 million.
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French energy company Engie has received the approval to move ahead and start construction of its Pemuco wind project in Chile.
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Spanish renewable developer Solarpack has appointed José Luis García Pérez as chief executive for Latin America, based in Santiago, Chile.
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Canadian power company TransAlta has signed 10-year tax credit transfer agreements for 2 Oklahoma-based wind projects totalling 500MW.
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The largest clean energy infrastructure project in US history was closed just before we started the new year. Pattern Energy inked $11 billion in financing for its 500+ mile transmission line connecting more than 3.5GW of stranded wind resources – SunZia.
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Renewables developer Casa dos Ventos has contracted an offtaker for the operational Rio do Vento wind complex in Brazil.
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The Federal Economic Competition Commission (Cofece) has conditionally approved the acquisition of a majority stake in Iberdrola's Mexican portfolio by government-backed Mexico Infrastructure Partners (MIP).
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Allete Power has issued a request for proposals (RFP) for up to 400MW of wind energy to come online by the end of 2027.
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Asset management firm Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) will acquire a majority stake in the Sharp Hills wind farm from EDP Renewables subsidiary EDP Renewables Canada (EDPR Canada).
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Amazon has signed a power purchase agreement (PPA) to source energy from an Avangrid wind farm located in Gilliam County, Oregon.
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Portland General Electric (PGE) closed on its acquisition of a 208MW stake in the Clearwater Wind Farm from developer NextEra, PFR has learned.
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Industrial power company One Energy Enterprises has appointed Tom Russell as its chief financial officer (CFO) ahead of its New York Stock Exchange (NYSE) listing.
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Avangrid is readying its first renewable energy project in Oklahoma, the 147.5MW Pontotoc Wind project.
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The New York State Energy Research and Development Authority (NYSERDA) has closed its solicitation process for its fourth offshore wind auction. Several companies have announced their proposals, including Equinor, RWE, National Grid, and Ørsted.
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RWE Clean Energy has promoted Andrew Flanagan, the company's former chief development officer, to chief executive.
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Partners Group subsidiary Exus North America has agreed to purchase Dutch commodity trader Vitol’s 244MW Pennsylvania-based 3-project wind portfolio, PFR has learned.
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Renewables and utility project developer Invenergy has opened a regional office in Montreal, becoming the company’s Quebec-based hub for Eastern Canada.
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Shell subsidiaries Shell Wind Energy and Savion Equity will sell partial ownership stakes in two US-based renewable energy projects to international infrastructure investment manager InfraRed Capital Partners (InfraRed).
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Washinton state-based utility Puget Sound Energy (PSE) will construct a 248MW wind farm in Stillwater County, Montana. The project is expected to become operational in 2025.
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Copenhagen Infrastructure Partners (CIP) has launched a platform for the development and realization of renewable projects in Canada, Horizon New Energy, as part of the firm's expansion into the Canadian market.
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Canada-based green hydrogen developer EverWind Fuels has secured a C$125 million (USD $ 91.2 million) debt facility from Export Development Canada (EDC) to put toward its Tupper Point, Nova Scotia-based green hydrogen and ammonia project.
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Leeward Renewable Energy (LRE) has closed on $580 million of tax equity commitments and debt facilities for its White Wing Ranch Solar and GSG Wind projects located in Yuma County, Arizona, and LaSalle County, Illinois, respectively.
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Iberdrola-owned Avangrid has reached a transfer tax credit agreement for over $100 million of 2023 production tax credits (PTCs) with oil and power multinational Vitol, one of the first transferable credit agreements created by the Inflation Reduction Act.
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Ørsted has begun operations on its 13th US wind farm, Sunflower Wind, which is a 200MW wind project located in Marion County, Kansas. The Danish energy giant now operates 832MW of wind energy in the Southwest Power Pool.
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Apex Clean Energy has signed its first power purchase agreement (PPA) with Google for the full 189 MW capacity of the Timbermill Wind project to be sited in North Carolina.
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The environmental protection agency of Rio Grande do Sul in Brazil, FEPAM, has issued a preliminary license for a 643.5MW wind project.
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Desjardins Group Pension Plan and DGAM Global Private Infrastructure Fund II have together acquired 37.5% ofCanadian wind farms Cypress 1 & 2 from EDF Renewables.
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Alaska Renewables, a start-up developer, is negotiating with the Alaska Mental Health Trust to develop a 235MW wind farm on trust land.
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Pattern Energy has completed construction and begun operation at its 150MW Lanfine Wind power project in Alberta, Canada.
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Financial details have emerged on Macquarie’s Green Investment Group (GIG) and Hydro Rein’s 456MW Feijão Wind Farm – part of a 586MW combined wind and solar project in northeastern Brazil.
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Pattern Energy has signed a power purchase agreement (PPA) with both Shell Energy North America and all Regents of the University of California for part of the energy generated from its SunZia Wind Project.
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Allete Clean Energy has closed its sale of the 91.6MW Red Barn wind project in Grant County to WEC Energy Group utility, Wisconsin Public Service (WPS), and Madison Gas and Electric Co (MGE).
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Danish wind turbine manufacturer Vestas has signed an agreement with Brazilian developer Casa dos Ventos to supply wind turbines to two mega wind farms.
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Danish wind turbine manufacturer Vestas has signed two turbine supply contracts with utilities in Argentina and the US for a total capacity of 151MW.
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North American alternative investment manager Fengate Asset Management has reached financial close on the 160MW Prairie Switch Wind project near Houston.
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Electric vehicle (EV) maker Rivian Automotive has signed a PPA with Apex Clean Energy for 50MW of renewable electricity from the proposed Goose Creek Wind farm in Piatt County, Illinois.
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Invenergy has struck a deal with a subsidiary of American Electric Power (AEP) whereby the company will sell a 204 MW wind project it is developing in Illinois.
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Ørsted has brought online a wind project in Nebraska, adding 298 MW to its US portfolio.
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Wind sponsors look poised to favor a "more equitable" direct-pay structure following the approval of a portion of the Democrats’ proposed $3.5 trillion spending package by the US House of Representatives' Ways and Means Committee, which could alter the tax equity landscape, say insiders at REFF Wall Street 2021.
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Leeward Renewable Energy has secured debt and tax equity financing for a pair of wind projects in New Mexico.
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The Biden administration is preparing to launch a lease auction for offshore wind development on the outer continental shelf of the New York Bight – an area of shallow water between Long Island and the New Jersey coast.
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The US Department of the Interior is planning to issue a Request for Interest (RFI) for the development of offshore wind projects on the Gulf of Mexico's outer continental shelf.
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A DIF Capital Partners’ infrastructure fund, DIF Infrastructure VI, has agreed to acquire a 298 MW wind project in Oklahoma.
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NextEra Energy Resources has inked a power purchase agreement with a Washington-based electric utility for a portion of the output of a wind farm located in Montana.
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A Hong Kong-based buyer has completed the acquisition of a pair of wind farms in Canada, marking its first renewables investment in the country.
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A pair of sponsors is nearing financial close on a roughly C$1.2 billion debt refinancing for a wind project located in Ontario.
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Ørsted has secured an offtaker for a 103 MW wind farm in South Dakota.
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NextEra Energy Resources is arranging debt financing for a wind project that it is repowering in California.
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Pattern Energy has inked a power purchase agreement with a German utility for its Western Spirit wind portfolio in New Mexico.
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Northern Indiana Public Service Co (NIPSCo) has launched a request for proposals for thermal, renewable and energy storage assets.
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RWE Renewables and National Grid have agreed to jointly develop offshore wind projects in the coastal region of the Northeastern US and to bid in the New York Bight lease auction.
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NextEra Energy Partners plans to upsize a $1.1 billion convertible equity financing that it secured in November with a consortium of investors led by KKR & Co.
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Dutch energy company Vitol is repowering a wind project in Illinois that it bought from a BlackRock-managed fund earlier this year, and which BlackRock had originally tried to repower in 2019.
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Apex Clean Energy has sold a pair of wind farms in Michigan to DTE Energy, as part of a build-transfer deal.
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Houston-based EnCap Investments has raised $1.2 billion for its EnCap Energy Transition Fund I.
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AES has inked a power purchase agreement with Google to supply electricity to the internet giant's Virginia-based data centers.
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A sale process is underway for a battery storage-focused independent power producer.
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The US Bureau of Ocean Energy Management has kicked off its environmental review of Ørsted and Eversource’s Revolution Wind project off the coast of New England.
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Dominion Energy Virginia has launched a request for proposals for solar, wind and energy storage projects.
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Renewable Energy Systems has secured two virtual power purchase agreements with Bimbo Canada, one of the largest bakeries in the country.
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Leeward Renewable Energy has struck a deal to acquire a 580 MW wind and solar portfolio in Indiana.
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RWE Renewables has tasked GE Renewable Energy with the repowering of the third phase of its Panther Creek wind farm in Texas.
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Quinbrook Infrastructure Partners' portfolio company Scout Clean Energy has secured a $50 million letter of credit facility.
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Southern Power has struck a deal to acquire a 118 MW wind project in Oklahoma.
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NextEra Energy Partners has struck a deal to acquire a 391 MW operational wind portfolio from Brookfield Renewable Partners.
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AEP Energy, a subsidiary of American Electric Power, has signed a 12-year power purchase agreement with an Ohio-based lead-acid battery manufacturer.
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Owners of hedged renewable energy projects in Texas face an uphill battle as they plead for protection against foreclosure in court, if a recent ruling by a New York judge is anything to go by.
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BluEarth Renewables has signed a power purchase agreement with a retail energy provider for the output of a wind farm in Alberta.
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Canadian pipeline operator TC Energy Corp has hired Marathon Capital to advise on the procurement of as much as 620 MW of wind capacity to power its US assets.
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OMERS Infrastructure has signed a deal to sell its minority stake in Vento II, a 596 MW portfolio of wind projects in four US states, to Atlantica Sustainable Infrastructure.
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German pharmaceuticals company Boehringer Ingelheim has signed a deal with utility company Evergy for a portion of the output of of an Enel Green Power North America wind project in Kansas.
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Energy Capital Partners has raised a $1.2 billion continuation fund to house its stake in renewables developer Terra-Gen, previously held under Energy Capital Partners III, employing a strategy that has come into vogue among private equity firms in recent years.
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Canadian developer Greengate Power Corp has hired former AltaGas director of power finance Scott Perry as a business development executive in Calgary.
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Ørsted has made a final investment decision on a combined wind and solar project in Texas, which the Danish company expects to be online in the first half of 2022.
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Kirkland & Ellis has hired a senior tax attorney from Orrick, Herrington & Sutcliffe as it builds up its renewable energy finance practice.
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Invenergy has closed the construction financing for its 999 MW Traverse Wind Energy Center, the last to be financed of the three projects that make up its 1,485 MW North Central Wind Energy portfolio in Oklahoma.
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Steel manufacturer Nucor Corp has signed a power purchase agreement with Ørsted for a portion of the output of a wind farm in Texas.
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Enel Green Power has signed an aggregated virtual power purchase agreement with a consortium of four non-utility offtakers – including ridesharing company Uber – which has been described as the largest contract of its kind.
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Several renowned Scotch whisky makers, including Glenmorangie, are working out a spirited plan to power their Highland distilleries with green hydrogen produced using generation from nearby offshore and onshore wind farms.
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MUFG has introduced a new CLO asset class, bundling $500 million of project finance and infrastructure loans together for Starwood Property Trust in a deal that clearly demonstrated investor appetite for the product.
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Enel Green Power North America has signed a power purchase agreement with cereal maker Kellogg Co for the output of a combined wind and battery storage project in Texas.
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In February, for the first time, Power Finance & Risk brought together representatives of the bank loan, private placement, term loan B and tax equity markets with a project sponsor to discuss the state of project finance, how they coped with the Covid-19 pandemic and what is in store for 2021.
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Exelon Corp has announced its intention to spin its competitive generation and retail power businesses off into a separate publicly-listed company following a strategic review.
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Eight community choice aggregators in California are aiming to leverage their collective purchasing power by combining to form a new joint powers authority called California Community Power.
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As winter storms wallop Texas, leaving around four million people to wait out rolling blackouts and sending power prices skyrocketing, project finance professionals and investors are assessing the fallout for project-financed assets in the Lone Star State.
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Allete Clean Energy has signed a deal to sell two repowered wind projects in Minnesota to utility holding company Xcel Energy.
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EDF Renewable Energy has signed a power purchase agreement with German chemical company BASF for the output of a wind farm in Texas.
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Special purpose acquisition companies (SPACs) have proliferated at a blistering pace over the past year, and market participants are virtually certain that at least one renewable energy developer will go public this way by the end of 2021.
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Ares Management Corp has announced its investment in Apex Clean Energy's 302 MW Lincoln Land wind project in Illinois, which was first reported by PFR on January 12.
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Recently, it seems that every day brings blank check company news, whether it’s an initial public offering or a merger. But could a privately held renewable energy project developer go public this way by the end of the year?
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The years-long stampede of international capital into the US renewable energy sector has continued unabated in the first few weeks of 2021, as latecomers from around the world have finally got in on the action.
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PepsiCo has selected two wind projects being developed by Ørsted to power its operations in the US.
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Credit Suisse has promoted its head of North America renewables in New York to a new global position overseeing investment banking in renewables and sustainable energy technology.
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The state of New York has chosen two projects sponsored by Equinor and its joint-venture partner BP in its latest offshore wind tender.
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Excelsior Energy Capital has closed its first fund, Excelsior Renewable Energy Investment Fund I, with capital commitments of $504 million.
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Novatus Energy and Southwest Generation, two portfolio companies of JP Morgan Asset Management's infrastructure investment funds, have merged to become a combined renewable energy and gas-fired power platform.
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Invenergy sealed loans at the end of last year for the three large wind farms it is preparing to build in Oklahoma for American Electric Power utility companies.
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Ares Management Corp has financed a contracted wind farm in Illinois that it acquired from a developer last year.
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Hannon Armstrong Sustainable Infrastructure Capital (HASI) has tweaked the roles of several of its senior officials as former CFO Brandan Herron transitions to an advisory role.
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Clearway Energy Group has closed a $427 million construction loan for its 354 MW Mesquite Sky wind project in Texas.
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Canadian yield company TransAlta Renewables has agreed to acquire two North American wind projects and a cogeneration facility totaling 303 MW from its developer-sponsor TransAlta Corp.
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German developer PNE has appointed Karl Dahlstrom as CEO of its US subsidiary following the retirement of Ron Flax-Davidson at the end of 2020.
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Pattern Energy has closed the financing for its Western Spirit transmission line and wind project portfolio in New Mexico.
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Canadian developer Innergex Renewable Energy has closed on a construction loan and tax equity commitment for its 225 MW Griffin Trail wind project in northwest Texas.
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Global Infrastructure Partners has announced its acquisition of the US renewable energy business of fund manager MAP Energy, which includes a seasoned portfolio of wind and solar royalty investments.
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Greenbacker Renewable Energy Co has closed its acquisition of the 50 MW Rippey wind farm in Iowa from developer RPM Access.
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Online retailer Amazon has signed power purchase agreements with Engie for several wind and solar projects in the US as part of a larger deal that also encompasses European projects.
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Spanish companies ACS and Solarpack have emerged as the winning bidders for wind and solar contracts in Ecuador following a 16-month-long competitive process.
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The US offshore wind industry is on the cusp of lift-off. To discuss the path forward, PFR and McDermott Will & Emery brought together a group of professionals at the forefront.
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Offshore wind developer US Wind has hired former Deepwater Wind boss Jeff Grybowski as its new CEO.
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Boralex has bought Caisse de dépôt et placement du Québec out of its stake in a 296 MW portfolio of three wind projects in Québec, becoming their sole owner.
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Berkshire Hathaway Energy has signed a turbine supply agreement for a 117.6 MW wind farm it is developing jointly with Renewable Energy Systems in Alberta.
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Boralex is buying Caisse de dépôt et placement du Québec out of its stake in a 296 MW portfolio of three wind projects in Québec to become their sole owner.
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Leeward Renewable Energy has reached financial close on the tax equity financing of its Sweetwater 3 Wind Farm repowering project in Texas.
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EDP Renewables North America has lined up a tax equity investor for a pair of wind farms it is developing in Colorado and Indiana.
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