Private Equity
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KKR and Hannon Armstrong Sustainable Infrastructure Capital (HASI) have partnered on a $2 billion investment vehicle for sustainable infrastructure projects.
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A trio of Boston-based energy investors has launched Inyarek Partners to develop energy transition assets, completing its inaugural investment into renewable natural gas (RNG) platform Redtail Renewables.
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Barely a month into the new year and infrastructure and energy investment managers have dominated headlines. Global Infrastructure Partners – and all $100 billion of its AUM – got absorbed into fund management behemoth BlackRock. Meanwhile, General Atlantic bolted on $12.5 billion sustainable infrastructure firm Actis onto its beefy $86 billion body of managed assets.
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Quantum Capital Group, the energy-focused private equity firm, has hired David Altshuler partner and co-head of client solutions.
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Casey Moye, formerly of NextEra Energy, has teamed up with Boston-based family office, Slater Family Holdings, to establish the renewable investment platform Greenview Energy (GVE).
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A seasoned infrstructure investment official left Caisse de dépôt et placement du Québec (CDPQ) earlier this month to set up his own shop in Mexico City.
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Argentinian independent power producer Stoneway Capital Corp. has a new owner after missing debt amortization payments due in early March.
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The South Korean owners of a gas-fired plant in Chile began looking to refinance it through a private placement a few months ago, but market conditions may act as a deterrent, say bankers.
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Argentinian independent power producer Stoneway Capital Corp. is embarking on what could be a lengthy restructuring process after bondholders declined to extend the maturity of debt due to be repaid this month.
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German asset manager MPC Capital is raising capital among U.S. investors to build 200 MW of renewable projects in the Caribbean.
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AES Gener has announced a $1.8 billion investment in solar and wind projects in Chile and Colombia with a total capacity of 1.6 GW.
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IEnova, a subsidiary of Sempra Energy, and Actis-owned independent power producer Saavi Energía are developing a 108 MW wind farm in Mexico that will sell its output into the U.S.
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A year after private equity firm I Squared Capital completed the acquisition of a large renewable energy portfolio in Latin America, the fund has consolidated its assets by refreshing the debt at both the holdco and project level.
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Infrastructure private equity firm I Squared Capital has named three new partners, in addition to three existing managing partners.
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Five local players and one international developer could bid to buy power distributor Electricaribe in an auction later this month, with international investors looking for partners to participate in the process.
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Private equity firm Denham Capital has announced a $250 million investment in Ceiba Energy, a Latin America-focused power project developer headquartered in Houston.
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A private equity firm has tapped boutique investment bank Evercore to market its stake in a wind and solar project developer.
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A fund managed by Starwood Energy Group Global has lined up a buyer for an Ohio wind project that is expected to come online later this summer.
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Capital Dynamics has sealed its purchase of 8point3 Energy Partners, sparking conversations about the future of the yield company business model during a busy week of summer conferences.
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GE Energy Financial Services has announced the retirement of two senior figures as the General Electric division looks to sell its loan book and private equity assets.
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A joint venture between Axium Infrastructure and Manulife Financial Corp. has agreed to acquire a 35% stake in AltaGas’ hydro assets in northwest British Columbia for C$922 million (approximately $700 million).
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Fengate Real Asset Investments has entered into a $100 million, multi-year equity commitment with Texas developer PowerFin Partners, echoing a deal the asset manager struck with a Canadian developer two months ago.
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ArcLight Capital Partners has agreed to sell a gas-fired asset in Arizona with a capacity of almost 600 MW.
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Fengate Real Asset Investments has hired a former Skadden project finance lawyer as chairman of its U.S. infrastructure unit, Fengate Capital Management.
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A group of four Japanese investors has acquired a majority stake in an Ares-EIF gas-fired project in Connecticut.
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Onyx Renewable Partners, a portfolio company of The Blackstone Group, has scored a $79 million financing for an approximately 80 MW portfolio of distributed solar assets.
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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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A former principal at Oaktree Capital Management has joined Energy Capital Partners as a partner.
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The Carlyle Group and GE Energy Financial Services plan to sell a gas-fired project in Washington County, Ga., to a fund managed by Harbert Management Corp.—just as soon as they formally gain ownership of the plant themselves.
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Axium Infrastructure has agreed to acquire the 286 MW Brooklyn Navy Yard in New York from a fund managed by Ares-EIF.
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Starwood Energy Group Global has hired Phil Pletka, formerly a senior member of BlackRock’s energy and power team, as a managing director.
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Atlas Renewable Energy has acquired a 101.4 MW solar project in Mexico from SunPower Corp.
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Terra-Gen has sealed financing from three banks for two development-stage wind projects it owns in California and Texas.
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A fund managed by Ares-EIF is acquiring a majority stake in developer Conti Solar.
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Details have emerged on a term loan B refinancing for a Blackstone Group Texas gas-fired project.
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Osaka Gas has acquired Michigan Power, a 125 MW cogeneration facility in Ludington, Mich., from Rockland Capital.
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Longview Power has hired Houlihan Lokey as an adviser as it explores strategic options for its 700 MW coal-fired project near Maidsville, W.Va., including a potential refinancing of its senior secured debt.
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Fengate Real Asset Investments has signed a $100 million multi-year equity investment commitment with renewables developer Greengate Power Corp.
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A European infrastructure investment firm has tapped a former Ares-EIF partner to join its New York office as managing director.
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A private equity firm has agreed to purchase two gas-fired units at GenOn Energy’s Canal facility in Massachusetts as the bankrupt NRG Energy subsidiary sheds assets as part of its restructuring.
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A Canadian pension manager has agreed to acquire Leeward Renewable Energy, adding a 1.7 GW portfolio of largely-contracted wind projects to its pool of investments.
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FirstEnergy Solutions has found buyer for a merchant coal-fired facility in PJM Interconnection in the form of a joint venture between a private equity firm and an independent power producer.
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Ridgewood Infrastructure has sold its stake in the Neptune Regional Transmission System, a 66-mile transmission line running under Long Island Sound.
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Delegates at the Euromoney Seminars 12th Annual Latin American Energy & Infrastructure Finance Forum in Miami Beach are keeping at least one eye on Latin America’s colorful political landscape, as a year of national elections and unfolding corruption probes promises to have a bearing on project financings and M&A deals.
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A British emerging markets-focused private equity shop has received bids for a portfolio of Brazilian wind assets it is looking to sell.
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A New York private equity shop has hired a pair of financial advisers to sell a hydro project in PJM Interconnection that it previously tried to sell four years ago.
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LS Power has taken bids for a pair of gas-fired assets it is in the process of selling in the Midwest.
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An investor group led by private equity firm Bernhard Capital Partners Management has purchased transmission business W.A. Chester from Exelon Corp.
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GenOn Energy has found a private equity buyer for its 810 MW Hunterstown gas-fired project in Gettysburg, Pa.
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Convergent Energy and Power is acquiring a pair of energy storage assets from Rockland Capital, according to a Feb. 23 filing with the U.S. Federal Energy Regulatory Commission.
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Project finance bankers are pinning their hopes on merger and acquisition activity to keep them busy this year, but they may have to wait a while for it business to pick up, say deal watchers.
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Macquarie Infrastructure Corp. is weighing a sale of a New Jersey gas-fired asset.
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A private equity firm has hired an adviser to sell its stake in a portfolio of hydro assets spread across the U.S.
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An ArcLight Capital Partners portfolio company has agreed to purchase Avangrid Renewables’ gas storage business.
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A Quinbrook Infrastructure Partners fund has closed its purchase of a 223.5 MW portfolio comprising six older wind assets in three U.S. states that it plans to repower.
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A Basalt Infrastructure Partners fund has acquired a stake in a generation portfolio owned by DCO Energy. In a separate deal, the two entities have wrapped the joint purchase of a Michigan biomass facility.
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A fund managed by Quinbrook Infrastructure Partners has wrapped a debt and tax equity financing for a 200 MW wind project in Oklahoma.
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Royal Dutch Shell has agreed to acquire a 43.83% stake in Silicon Ranch Corp. from one of its backers, a Swiss private equity firm, making the Anglo-Dutch oil and gas giant the solar developer’s largest shareholder.
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Having closed a series of three acquisitions of small utility-scale U.S. renewables projects toward the end of last year, Greenbacker Renewable Energy has lined up another deal to buy a portfolio of operational solar assets in Colorado and California.
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A fund managed by Rockland Capital is acquiring a portfolio of gas-fired and oil-fired facilities in PJM Interconnection from an AES Corp. subsidiary.
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LS Power has closed its purchase of several units of four Pennsylvania gas-fired projects and priced a private placement to finance its acquisition of a stake in a pumped-storage hydro project in Virginia.
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New England-based distributed energy finance shop Constant Energy Capital has hired a commodities trader at the managing director level and is preparing to make a mid-level hire within the next year.
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BlackRock entered into an agreement to acquire EverPower Wind Holdings on Nov. 22, according to a filing with the U.S. Federal Energy Regulatory Commission.
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A private equity firm has agreed to acquire the majority of IC Power’s generation assets through the purchase of its Latin American subsidiary Inkia Energy.
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Former Panda Power Funds cfo Alison Zimlich has joined the c-suite of one of a transmission-focused Blackstone Group portfolio company.
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New York-based private equity firm LS Power has negotiated the sale of a combined-cycle gas-fired project in South Carolina to a local utility.
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Asset manager Tennenbaum Capital Partners is seeking regulatory approval to increase its stake in a West Virginia coal-fired plant.
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An Australian investment manager has agreed to acquire a nearly 250 MW portfolio of contracted U.S. wind assets in what is slated to be its second major North American acquisition in a year.
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A private equity firm is marketing its majority interests in a pair of wind projects supported by power hedges in northern Texas.
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A private equity firm has agreed to acquire Ares-EIF’s interests in a portfolio of coal-fired assets, as well as an additional stake in one of the projects that is held by a high-profile individual on the Forbes 400 list of the wealthiest Americans.
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APG Asset Management, a subsidiary of Dutch pension manager Stichting Pensioenfonds ABP, announced this week that it has invested approximately €330 million ($384 million) of equity into a three-project portfolio in the western U.S.
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An established joint venture between two Japanese utility companies is acquiring a 50% equity interest in the six-unit Linden Cogeneration gas-fired project in Union County, N.J.
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Some of the power finance world’s fresher faces gathered at CohnReznick Capital’s offices in New York’s Credit Lyonnais Building on Oct. 12 for Juniors in Energy Finance's inaugural “30 Under 30” presentation event.
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Eversource's 1.2 GW New Hampshire generation portfolio is set to be sold in two portions following an auction process that was launched at the beginning of the year.
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Beal Bank has requested regulatory permission to take possession of the 965.4 MW La Paloma merchant gas-fired project in McKittrick, Calif., on behalf of its creditors.
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An energy infrastructure asset management firm has bought a 37 MW distributed generation portfolio from a solar development company.
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An auction for a portfolio of coal-fired, fully-contracted projects is drawing to an end, say deal watchers close to the deal.
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The Blackstone Group modestly increased the size of a term loan B backing its equity investment in a 715-mile natural gas pipeline owned by Energy Transfer Partners on Thursday, having tightened pricing in response to strong demand.
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An individual investor has acquired the 55 MW Carson gas-fired project in Los Angeles County, Calif., from a private equity-backed vehicle.
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Capital Dynamics has added two shovel-ready projects totaling 28 MW (DC) to a portfolio that has swelled this year as the firm snapped up more than 800 MW of assets.
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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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An investment vehicle managed by Harbert Management Corp. is acquiring interests in two wind projects owned by Enel Green Power North America.
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A municipal utility in Florida is acquiring a 100 MW biomass project from a group of investors including private equity firms Starwood Energy Group Global and Tavistock Group.
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An LS Power owned fund has knocked $100 million off the purchase price for a 1,615 MW portfolio of generation assets it is acquiring from two FirstEnergy subsidiaries.
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ArcLight Capital Partners is acquiring equity interests in two operational wind projects in Idaho that were originally financed in 2010 and 2011.
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MEAG, the asset management arm of Munich Re Group, has acquired minority stakes in two 230 MW Texas wind projects developed by Starwood Energy Group Global.
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A global asset manager has closed debt and tax equity financing for two utility-scale projects, which it recently added to its burgeoning portfolio of solar assets.
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A private equity firm is selling a waste-to-energy business, PFR has learned.
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Onyx Renewable Partners has closed a tax equity investment with RBC Capital Markets.
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LS Power has hired a financial adviser to sell two gas-fired projects, PFR has learned.
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Deal volume for power and utility asset acquisitions in the first half of 2017 is down year-on-year, as expected by market participants recovering from an exceptionally busy 2016. As capital flocks to the power sector, competition for assets in the market is likely to remain fierce as long as financing remains cheap.
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Alterra Power Corp. has sealed financing for its 200 MW Flat Top wind project in Texas after landing an equity commitment from BlackRock Real Assets.
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Several senior members of staff have left a Blackstone-financed renewable shop.
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United States Solar Corp. has lined up project finance from a renewables-focused investment manager for upward of 100 MW of community solar assets in Minnesota.
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A Bethesda, Md.-based private equity shop has completed its acquisition of a hydro portfolio from funds managed by affiliates of The Carlyle Group.
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An independent power producer has assembled a club of banks to arrange acquisition financing for a pair of gas-fired peakers it is buying in PJM Interconnection.
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Moody’s Investors Service has downgraded approximately $1.05 billion of debt associated with a 945 MW partially-contracted coal-fired project in Texas from B2 to B3.
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Pattern Energy Group, the yield company of Pattern Development, has agreed to acquire its first development-stage assets in the form of a roughly 20% stake in Pattern Development 2.0, as the group announces separate investments from Riverstone Holdings and a Canadian pension fund.
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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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A California-based renewable project developer with a pipeline totaling over 6.6 GW of predominantly wind projects has mandated a financial adviser to sell the company, deal watchers tell PFR.
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The Blackstone Group has promoted a senior m.d. with over a decade of experience in power to be head of its new Saudi-backed infrastructure vehicle.
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Power Finance & Risk announced the winners of its 14th Annual Deals and Firms of the Year Awards at a drinks reception at the Bryant Park Hotel in New York on May 24.
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Japanese conglomerate ORIX has filed with the U.S. Federal Energy Regulatory Commission for its acquisition of a 22.1% stake in geothermal developer Ormat Technologies.
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LS Power increased the size of the bank loan for a more-than-3 GW quasi-merchant gas-fired portfolio known as Gridiron Generating in response to strong demand, PFR has learned.
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Actis' newly formed wind platform Echoenergia has acquired two operating wind farms in north east Brazil from developer Casa dos Ventos.
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LS Power has closed a hybrid bank and institutional debt financing for a more-than-3 GW portfolio of merchant and gas-fired projects and sold the assets to a new group of institutional investors.
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California-based 8minutenergy Renewables speaks to PFR about its plans to install 1 GW of storage projects in the next four years.
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The Silverfern Group has made a "follow-on investment" in the 878 MW Broad River simple-cycle dual-fuel facility in Gaffney, S.C.
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The Carlyle Group has agreed to sell a gas-fired project in New Jersey that the private equity firm put on the block last fall.
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Ares-EIF has hired two investment banks to run a sale process for an under-construction gas-fired project in PJM Interconnection, deal watchers tell PFR.
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A former senior financier at SunEdison and TerraForm Power has joined a roughly one-and-a-half-year-old solar-focused private equity firm.
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Pricing on the term loan B backing The Carlyle Group’s Nautilus Power portfolio, previously known as Essential Power, flexed up last week. The deal was priced on Friday.
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Opinions on the impact—or lack of impact—of shifts in government policy on coal-fired and renewable generation converged during the opening panel discussion of Platts Global Power Markets 2017.
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As uncertainty around tax reform in the U.S. contributed to a slowdown in renewables financings in the first quarter of the year, the busiest banks were those with an appetite for quasi-merchant gas-fired deals.
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Panda Power Funds’ Temple I gas-fired project in Texas filed for Chapter 11 bankruptcy protection on Monday.
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Panda Power Funds, whose troubled Temple I project in Texas filed for bankruptcy earlier this week, has appointed a new head of debt and finance.
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The Carlyle Group has hired Morgan Stanley to lead a refinancing of a term loan B secured by a portfolio of gas-fired, oil-fired and hydro projects that the private equity firm acquired last year.
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D.E. Shaw is behind a new solar development shop that is building utility-scale projects in the U.S., according to market participants.
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Harbert Management Corp. refinanced a dual-fuel simple-cycle plant in Alabama toward the end of a slow first quarter for contracted projects, PFR has learned.
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Moody’s Investors Service has placed the debt associated with a contracted gas-fired cogeneration plant in California on review for downgrade, citing renewable development and hydrology levels in the region.
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Siemens Wind Power has finalized its acquisition of a controlling stake in Spanish turbine manufacturer and project sponsor Gamesa, which owns a merchant utility-scale wind asset in the U.S.
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Fresh from acquiring an equity stake in a gas-fired project in PJM Interconnection, Sojitz Corp. has signaled its intent to ramp up investment in U.S. generation assets.
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Panda Power Funds’ Temple I combined-cycle project in Texas looked set to default on its term loan after a three day grace period expired following the project’s failure to make a coupon payment that was due on March 31.
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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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Owners of gas-fired projects joined a general stampede to the term loan B market for repricings in the first quarter of the year, in a trend that is likely to continue as long as inflows of capital outweigh borrower demand for new debt.
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A private equity firm has agreed to purchase three out of a portfolio of four merchant gas-fired projects in PJM Interconnection that Rockland Capital put up for sale last year.
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Private equity firm Fengate Real Asset Investments has closed a $300 million fund and acquired a stake in a company that develops distributed generation projects in Canada.
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Castlelake, a Minneapolis-based alternative investment firm, has agreed to acquire a wind repowering project in Northern California’s Altamont Pass from developer Salka, as it turns its focus to renewable assets.
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ArcLight Capital Partners is amending and extending a term loan B it secured last year to refinance a 5 GW portfolio of gas-fired merchant projects it had acquired from Tenaska Capital Management the year before.
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Axium Infrastructure has acquired equity interests in two gas-fired projects from Capital Dynamics.
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New York-based independent power producer Novatus Energy has agreed to acquire a solar asset in Colorado from First Reserve, according to a filing with the U.S. Federal Energy Regulatory Commission.
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The Blackstone Group and ArcLight Capital Partners initiated a repricing of a term loan B on Friday, just three months after the deal was originally sealed, as they seek to take advantage of improved market conditions for issuers.
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The Carlyle Group has partly refinanced a 1,066 MW portfolio of gas-fired plants in Georgia, having removed two assets from the collateral package, with implications for a series of bonds related to the portfolio.
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LS Power refinanced two peakers in Illinois in early February, PFR has learned. Like other recently signed loans backing gas-fired projects in PJM Interconnection, the deal attracted interest from South Korean investors.
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A managing director who was at Highstar Capital for 12 years left the firm in January, PFR has learned.
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Actis has closed its fourth energy-focused fund, Actis Energy 4, which will invest in generation and distribution businesses in Latin America, Africa and Asia.
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Brookfield Asset Management has agreed replace to SunEdison as the sponsor of its two yieldcos in deals which will involve Brookfield and institutional partners acquiring a 51% stake in the TerraForm Power and 100% of TerraForm Global.
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Terra Firma has mandated Barclays and KeyBanc Capital Markets to run the sale for its U.S. renewables shop, EverPower Wind Holdings.
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Actis is launching a new solar platform in Latin America with its acquisition of an approximately 1.6 GW asset portfolio from SunEdison.
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