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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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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Macquarie Infrastructure Corp. is weighing a sale of a New Jersey gas-fired asset.
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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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Atlantica Yield has agreed to acquire a stake in the 114-mile 3.2 GW Ten West Link transmission line being developed by Starwood Energy Group Global in California and Arizona.
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Dynegy is selling two gas-fired projects it recently acquired from Engie to LS Power. Separately, the independent power producer is also reconfiguring its ownership stakes in two Ohio coal-fired assets.
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Activist shareholders are likely putting pressure on NRG Energy to sell its yield company, NRG Yield, according to a report published by Moody’s Investors Service.
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LS Power has mandated Credit Suisse to arrange financing for its acquisition of a 3.9 GW mostly gas-fired portfolio from TransCanada.
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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 North 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 Latin America 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 North America Conventional Power 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 North America Renewable Project Finance Deal of the Year.
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Moody’s Investors Service has cited "uneasy" trade relations between Mexico and the U.S. as a risk for a private equity-backed independent power producer in Texas that sells generation across the border.
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Allianz Global Investors has sealed its second U.S. renewables debt investment—a back-leveraged private placement to refinance a D.E. Shaw Renewable Investments-owned wind project in Oklahoma.
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Cogentrix Energy Power Management and Quantum Utility Generation have closed their sale of a merchant coal-fired project in Virginia to a Michigan developer, completing their divestment from the U.S. coal-fired generation market.
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Maxim Power Corp. is seeking authorization from the U.S. Federal Energy Regulatory Commission to sell its entire U.S. generation business to a Maryland-based private equity fund.
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Despite a full slate of proposed gas-fired facilities, deal flow for large-scale greenfield project finance in the U.S. could slow this year, deal watchers tell PFR.
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Dayton Power & Light, a utility owned by AES Corp., has committed to sell three coal projects, shutter two others and buy or develop at least 300 MW of wind and solar generation in a settlement with several Ohio entities in relation to its rate case before the Public Utilities Commission of Ohio.
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D.E. Shaw Renewable Investments and Bright Plain Renewable Energy, a frequent collaborator of the investment firm, have acquired a contracted solar project in eastern Connecticut from Coronal Energy.
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FirstEnergy Corp. has found a buyer for all four of its merchant gas-fired projects in Pennsylvania and its interest in a hydro facility in Virginia.
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Starwood Energy Group Global has raised more than half of the $1.5 billion it is targeting for its third infrastructure fund.
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Panda Power Funds has mandated an investment bank to refinance two struggling combined-cycle gas-fired projects in Texas.
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Project finance bankers will be watching carefully this year to see how President Trump’s administration will handle issues affecting the power industry, but other topics such as the rise of the non-traditional power purchase agreement and the availability of new pools of capital are also on their radars.
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MUFG topped the power project finance league table for North America in 2016, arranging loans totaling some $3.7 billion, according to data from PFR affiliate Dealogic.
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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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Budding solar independent power producer Silicon Ranch Corp. has closed a $55 million equity raise from its existing investor group, led by Partners Group.
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SunEdison has found a buyer for its stake in a portfolio of U.S. wind assets. The sponsor has held the assets through a warehouse financing vehicle since acquiring them from Atlantic Power in 2015.
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Jefferies has strengthened its leveraged finance team with the addition of a pair of bankers who worked together at Lehman Brothers and Barclays for many years.
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Two investment firms have closed their joint acquisition of the the Broad River project in Gaffney, S.C., from Energy Capital Partners.
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Rockland Capital is marketing four merchant gas-fired projects totaling 1.25 GW that sell their generation in the PJM Interconnection market.
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The pricing on a term loan B to finance The Blackstone Group and ArcLight Capital Partners’ joint acquisition of a 5.3 GW portfolio of coal- and gas-fired assets has flexed up.
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Starwood Energy Group Global is selling two recently completed wind projects totaling 460 MW in Texas.
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A joint venture between The Blackstone Group and ArcLight Capital Partners has launched a term loan B to finance its acquisition of a four-project portfolio of coal and gas-fired facilities.
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Pricing details have emerged on a term loan B that will finance Blackstone Group and ArcLight Capital Partners’ joint acquisition of a conventional generation portfolio from First Reserve.
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Ormat Nevada and Northleaf Capital Partners have closed a $92.5 million private placement refinancing for a 20 MW geothermal project they co-own in Nevada.
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Axium Infrastructure has acquired an 84 MW eight-project solar portfolio from Renewable Energy Trust Capital, including the private equity firm's first solar projects in the U.S.
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Swiss asset manager Capital Dynamics has closed a debt and tax equity financing for a multi-project solar portfolio in North Carolina.
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GE Energy Financial Services is selling its stakes in two wind projects—one of which is contracted and one of which is merchant—to a fund of ArcLight Capital Partners that owns the remaining interests in the projects.
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A consortium of South Korean investors have taken a $200 million ticket in a senior secured loan backing Starwood Energy Group Global’s acquisition of two merchant gas-fired units totaling 840 MW, as Asian institutions look to increase their exposure to U.S. generation.
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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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Mainstream Renewable Power has hired a former investment banker and investor to head its new financing and investment division.
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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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Veresen has received more than 200 expressions of interest for a 625 MW portfolio of generation assets it is selling in Canada, according to a person familiar with the process.
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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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Veresen has received more than 200 expression of interest for the 625 MW portfolio of generation assets it is selling in Canada.
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Eurus Energy America and a fund of ArcLight Capital Partners are rearranging the ownership structure of two jointly-owned wind projects so that they each hold just one of the projects.
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8minutenergy has hired Bank of America Merrill Lynch as its financial adviser for its first corporate-level capital raise.
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GE Energy Financial Services and Citigroup have invested tax equity in Deepwater Wind’s 30 MW Block Island wind project off the coast of Rhode Island. It is the first project of its kind in the U.S. and is expected to be online this fall.
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Two buyers have agreed to acquire Duke Energy's Latin American assets in separate transactions that will complete the North Carolina-based utility company’s divestment from the region, following a two-stage auction.
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The average price of power purchase agreements awarded in Mexico’s second power auction was 30% lower than in the first auction, with one PPA coming in at just $26.99/MWh. The low prices will translate into lower leverage on projects, say deal watchers.
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Altus Power America, a private investor with a 60 MW portfolio of commercial and industrial-scale solar projects in the U.S., has obtained a $200 million equity investment from Goldman Sachs and two other investors.
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A buyer has emerged for a pair of peaker plants that Quantum Utility Generation put up for sale earlier this year.
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Cogentrix Energy Power Management is selling two generation assets in the PJM Interconnection market totalling nearly 1 GW, including a project it co-owns with Quantum Utility Generation that is slated to go offline next year.
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First Reserve has agreed to sell a portfolio totaling nearly 1.7 GW of contracted gas-fired projects to a joint venture holding company owned by Harbert Power Fund V, UBS Asset Management Funds - on behalf of UBS International Infrastructure Fund II - and The Northwestern Mutual Life Insurance Co.
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AMP Capital has hired a former Caithness Energy finance official as it expands its infrastructure debt team in New York.
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Three financial institutions are advising TerraForm Power and TerraForm Global on SunEdison’s potential sale of its interest in the two yield companies.
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Rabobank’s recently departed head of project finance for the Americas has reappeared at a private equity firm twelve blocks down Park Avenue from the Dutch bank’s New York offices.
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American Electric Power has agreed to sell four Midwestern generation facilities, representing roughly two-thirds of its competitive fleet in Ohio, to two private equity firms.
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Sky Solar and Hudson Clean Energy Partners are bringing their international collaboration on renewables stateside, establishing a partnership that will focus on the development and acquisition of solar projects in the U.S.
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Two investment banks are preparing to launch a sale process for Arclight Capital Partners' New Covert gas-fired project in Michigan in the next two weeks, a deal watcher tells PFR.
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Rockland Capital has acquired a gas-fired asset in Victoria, Texas, from a subsidiary of ArcLight Capital Partners.
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TerraForm Power avoided a technical default on its bonds after bondholders agreed to give the SunEdison yield company until December to file its annual accounts for 2015.
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A Danish pension fund has acquired OffshoreMW, a company developing an offshore wind project off the coast of Massachusetts, from the Blackstone Group.
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Arclight Capital Partners is planning to sell the New Covert project, which the private equity shop acquired in a portfolio from Tenaska Capital Management last year.
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Virgin Group has announced its first wind acquisition, a newly operational project in Jamaica.
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TerraForm Power and TerraForm Global are working with managing shareholder SunEdison on its potential exit from the yield companies.
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Apex Clean Energy has closed debt and tax equity financing and sold a majority stake in a 217 MW portfolio of projects in Texas.
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Brookfield Asset Management has closed a $14 billion infrastructure fund. The Brookfield Infrastructure Fund III is the largest unlisted private equity infrastructure fund ever raised, according to the Toronto-based company.
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Distributed wind developer United Wind has obtained an equity commitment from Total and is in talks with lenders to arrange debt financing for its fourth and largest project fund.
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Hannon Armstrong Sustainable Infrastructure has raised $82 million with a public share offering to free up borrowing capacity and to invest in renewable and energy efficiency projects.
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A former senior managing director in Macquarie's infrastructure group, who left the bank in May, has landed at Stonepeak Infrastructure Partners.
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Mainstream Renewable Power is in the final stages of negotiations with a group of banks for a project finance deal backing two wind farms totaling 300 MW in Chile.
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Macquarie’s corporate and asset finance group has requested permission to offload its tax equity exposure in a number of U.S. wind projects to funds managed by a subsidiary of a Texas-based private equity firm.
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Rothschild has sent out teasers and set a deadline for bids for SunEdison’s global project portfolio.
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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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In this week’s Industry Current, Randy Male, managing director at Bostonia Partners in Boston, explores the latest innovations in renewables financing in the wake of a challenging 12 months for the yield company sector.
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A project finance manger has left SunEdison to join the solar financing team at Gardner Capital, a developer and sponsor which specializes in tax credit investments.
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First Reserve is selling a portfolio of contracted gas-fired assets totaling nearly 1.7 GW, deal watchers tell PFR. Goldman Sachs is advising the Greenwich, Conn-based private equity firm on the auction.
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Allianz Risk Transfer, with the help of several partners, has created a novel hedge product to protect wind projects against the risks of intermittent wind resources, which deal watchers say could have a major impact on the market.
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Several generation portfolios financed with term loan Bs have failed to deleverage as expected and are sweeping 100% of their cash to pay down debt as a result of challenging market conditions, according to a report by Moody’s Investors Service.
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A Nashville, Tenn.-based developer, owner and operator of solar projects has raised $111 million with a privately placed capital increase.
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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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SunEdison has obtained $300 million of debtor-in-possession financing from its creditors and filed for Chapter 11 bankruptcy protection, the company announced on April 21.
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Panelists discussed the reemergence of the term loan B market and inflows of foreign capital at the Platts Global Power Markets conference in Las Vegas on April 20.
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Stiff penalties introduced by PJM Interconnection to ensure the reliability of its grid system will incentivize owners of single projects to sell up or aggregate their assets into larger portfolios, according to a report by rating agency Standard & Poor’s.
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The Carlyle Group has obtained commitments totaling more than $1.5 billion for Carlyle Power Partners II, the firm's second fund established to target generation assets in North America.
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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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A company owned by funds of Ares-EIF and Power Plant Management Services have agreed to pay $7.2 million in fines and civil penalties after pleading guilty to tampering with emissions equipment at the 245 MW gas-fired Berkshire Power project in Agawam, Mass., and lying to environmental and energy regulators for three years.
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LS Power Equity Advisors is offloading another project with the sale of the Calhoun Energy Center in Eastaboga, Ala., to a fund managed by Harbert Management Corp.
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A three-strong team left Capstone Power Development earlier this month to start up a new consultancy venture as the acquisition of CPD’s parent company by a London-based infrastructure fund gathers approvals.
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A renewables financing expert has joined Forum Equity Partners following a seven month stint at hedge-fund backed Renewable Energy Trust Capital.
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Pricing details and the identities of the lenders that participated in the debt financing for NTE Energy's 475 MW Kings Mountain project, which closed on March 11, have surfaced.
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Pattern Energy Group has enough dry powder to acquire one or two projects from its sponsor without issuing new shares, the yield company’s ceo told analysts on Feb. 29.
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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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SunDevil Power Holdings is selling two merchant gas-fired units totaling 1.1 GW in Gila Bend, Arizona, after filing for bankruptcy protection.
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Samsung Renewable Energy has completed debt and equity financing for the 50 MW Southgate solar project in Ontario, Canada.
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The project finance pipeline is brimming with deals for large-scale greenfield gas-fired projects due to be launched in the first half of 2016, deal watchers tell PFR.
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LS Power has refinanced four assets in two club deals totaling $690 million. The four projects are part of a 4.3 GW portfolio of facilities the company is selling.
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A lack of availability of power hedges was hot topic at the Infocast 8th Annual Projects & Money conference in New Orleans on Jan. 20.
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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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Macquarie Infrastructure Corp. has acquired the land beneath its 512 MW gas-fired Bayonne Energy Center in Bayonne, N.J., from Hess Corp. as part of a planned expansion of BEC to at least 642 MW.
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A Blackstone portfolio company is aiming to secure $3.4 billion in financing for two transmission projects in North America by the end of the year. Transmission Developers Inc. is developing the two projects in New England and New York.
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Private equity firm Riverstone Holdings is selling a 30 MW waste tire and biomass-fired facility in Connecticut to a local tire dealership, Empire Tire of Edgewater II.
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The Brooklyn Navy Yard dual-fuel cogeneration facility has made a $29.6 million bullet letter of credit loan repayment, prompting Standard & Poor’s to raise the 286 MW project’s senior secured credit rating from CCC to B-.
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Three New York-based private equity firms are seeking to increase their collective stake in the 775 MW Longview coal-fired facility in Maidsville, W.Va., from just over half to 90.5%.
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SunEdison has rewritten its agreement to acquire residential solar company Vivint Solar, cutting the purchase price by $1.25 a share, the company said on Wednesday. The revised plan has been broadly welcomed by investors, who had called for SunEdison to restructure the deal on more favorable terms.
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North Carolina-based developer Innovative Solar Systems is seeking an investor to take a 25% stake in the company, having delayed a planned initial public offering.
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Three or four secondary tax equity deals, in which investors that hold tax equity in wind projects sell the cash portion of their position to third parties, are in the market and finding strong demand.
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The U.S. Federal Energy Regulatory Commission has approved a divestiture plan proposed by Talen Energy, which was challenged by Macquarie Infrastructure Corp.
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BlackRock has acquired 50% of Spinning Spur 3, a 194 MW wind farm in Oldham County, Texas, from EDF Renewable Energy, as part of an infrastructure partnership announced in February.
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Cube Hydro Partners, a subsidiary of global infrastructure investment manager I Squared Capital, has purchased York Haven Hydro Station in York County, Pa.
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A fund managed by private equity firm Silver Lake has agreed to invest $100 million in zero coupon convertible senior notes issued by SolarCity, alongside smaller investments by senior SolarCity officials.
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Initial price talk has emerged on Rockland Capital's refinancing of the 125 MW Michigan Power project.
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SunRun is launching a $230 million aggregation facility this week in a deal being arranged by Investec.
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A NextEra Energy subsidiary intends to sell its stake in a 75 MW wind project in California's Mojave Desert to an affiliate of a fund managed by Energy Capital Partners III.
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The $900 million deal backing Moxie Energy and Caithness Energy’s 1050 MW Freedom gas-fired project in Luzerne County, Pa., closed on Tuesday.
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In third quarter earnings calls, yield company executives have faced questions about what strategic options they have, should the volatility the sector has faced since June fail to abate.
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sPower is seeking authorization from the U.S. Federal Energy Regulatory Commission for tax equity investments for a wind project in Utah and a solar project in Arizona.
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Deutsche Asset & Wealth Management is preparing to launch its first clean technology fund focused on the U.S. and Canada early next year, say market sources.
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Ares Management and Siemens Financial Services are backing the construction of Panda Power Funds' 1 GW Hummel combined-cycle gas-fired project in Snyder County, Pa.
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Rockland Capital has hired BNP Paribas to arrange a term loan to refinance the debt associated with the Michigan Power project in Ludington, Mich., according to a person close to the deal. Rockland recently agreed to acquire the plant from ArcLight Capital.
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Arclight Capital Partners has agreed to sell a 125 MW gas-fired facility to a fund managed by Rockland Capital.
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Sunnova has raised $300 million in debt and equity financing and is preparing for an asset backed securitization.
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New York-based private equity firm Cerberus Capital Management has acquired Renovalia, a Spanish renewables shop with projects in the U.S., Canada, Mexico and Chile, for €1 billion.
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Houston-based independent power producer Calpine has agreed to buy the 745 MW gas-fired Granite Ridge Energy Center in Londonderry, N.H. from a group of financial players, including CarVal Investors, for $500 million.
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Conergy’s regional head of the Americas, Yann Brandt, speaks to PFR editor Richard Metcalf about the aspirant solar independent power producer's plans to grow its portfolio in the U.S., Brazil and Mexico, how it will finance that growth, and long term financing options such as securitization and yield companies.
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The Carlyle Group has agreed to buy the 583 MW Rhode Island State Energy Center gas-fired plant in Johnston, R.I., from an Entergy Corp. subsidiary for $490 million.
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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 joint venture between MMA Energy Capital and Fundamental Advisors has provided a $55 million loan package to Conergy for the construction and operation of a portfolio of seven solar projects in North Carolina.
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Ares-EIF has launched a $400 million term loan and additional letters of credit backing its 700 MW St Joseph combined-cycle gas-fired project in St. Joseph County, Indiana.
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A BlackRock-managed fund has acquired a 50% stake in the 200 MW Longhorn wind farm in Texas, as part of an agreement to provide equity for a portfolio of EDF Renewable Energy projects.
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Talen Energy has added a third option to its divestiture plans after failing to extend the lease at one of its combined-cycle facilities.
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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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Ares-EIF has emerged as the buyer of GE Energy Financial Services’ 50% stake in the Linden cogeneration project in New Jersey.
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Panda Power Funds has obtained a rating from Standard & Poor’s for its 1,024 MW gas-fired Hummel station in Pennsylvania, while a loan for Invenergy backing six projects in the U.S. and Canada has won an upgrade from Moody’s Investors Service.
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LS Power has taken second round bids for a large portfolio of assets, mostly in PJM, as market observers wonder who will buy the huge amount of gas-fired generation on sale in the region.
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AltaGas has acquired Highstar subsidiary Star West Generation's stake in a 523 MW gas-fired portfolio in California.
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Residential solar loan platform Sunlight Financial has sealed $300 million in equity and debt and plans to launch an asset-backed securitization.
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Panda Power Funds launches debt financing for its 1 GW Hummel CCGT project in Pennsylvania.
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The impending expiration of tax credits for renewable projects, stock market volatility and sustained low oil prices were all hot topics at Euromoney Seminars’ 10th Anniversary North American Energy and Infrastructure Finance Forum on Sept. 9 and 10 in New York.
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SunEdison has financed another large renewables acquisition with private equity backing as it continues to stockpile assets to drop into its yield company, TerraForm Power.
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Ares-EIF and Northbrook Energy have sold two hydro projects totaling 30.4 MW to the Public Sector Pension Investment Board less than three years after acquiring the projects.
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Morgan Stanley has agreed to sell its tax equity stake in a portfolio of eight wind projects to a special purpose entity owned jointly by JP Morgan Capital Corp. and Hannon Armstrong Sustainable Capital.
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Tenaska Capital Management could go ahead with the sale of a large portfolio of merchant assets now that PJM Interconnection has released the results of its capacity market auction.
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Brad Nordholm, the ceo and managing director of Starwood Energy, and Himanshu Saxena, managing director, talk about the appeal of transmission assets, the evolution of the debt finance market, the prospects for mergers and acquisitions in PJM, the emergence of non-utility offtakers in the renewables space, and the impact of President Obama’s Clean Power Plan.
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Panda Power Funds plans to expand a gas-fired plant in Texas with help from a municipal development organization, after the facility was hit by forced outages earlier in the month.
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A subsidiary of Argo Infrastructure Partners is set to acquire the Cross Sound Cable transmission line from an affiliate of Brookfield Infrastructure Partners before the end of August.
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Moody’s Investors Service has produced a ranking of 18 sub-investment grade merchant projects, with those more heavily reliant on uncontracted cash flows featuring at the lower end of the ‘Ba’ category or lower.
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WindSail Capital is offloading its majority stake in renewables trading firm Skystream Markets, less than a year after it invested in the company, according to a confidential memo.
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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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A consortium led by Hunt Consolidated is set to acquire Energy Future Holdings' regulated transmission and distribution company Oncor as part of EFH’s plan to emerge from bankruptcy.
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The proceeds of TerraForm Global’s IPO are 40% lower than its original expectation of $1.13 billion through the sale of 57.7 million class A shares.
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Two large banks have launched a $414 million debt financing backing NTE Energy's 525 MW Middletown combined-cycle gas-fired project in Ohio.
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GE Energy Financial Services is set to pick a buyer for its 50% stake in the Linden combined-cycle cogeneration facility in New Jersey, as the project nears the end of a power purchase agreement.
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TransAlta is set to acquire its first solar generation assets as part of a portfolio of U.S. renewables projects that it is acquiring from Rockland Capital.
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A private equity shop recently spun off by JPMorgan is looking to buy more projects after acquiring its first generation asset, a gas-fired plant in Maryland, from a subsidiary of its former parent.
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KKR has taken an 80% stake in the solar development subsidiary of Spain's Gestamp, as private equity firms increasingly look to emerging markets for returns.
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In the second part of this exclusive interview, Mona Dajani, a partner in the banking and finance practice at Baker & McKenzie’s Chicago and New York offices, talks to PFR about the sustainability of the yieldco business model and the consequences of high levels of liquidity in a credit market pepped up by new entrants.
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Infigen Energy is selling a portfolio of U.S. wind projects to an ArcLight Capital Partners subsidiary for $272.5 million, marking its withdrawal from the U.S. wind market.
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Consolidated Edison Development is buying a 95 MW wind farm in Campbell County, S.D. Construction began in December 2014, without project financing in place, in order for the project to qualify for the wind production tax credit.
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This week, SunEdison has driven a barrage of M&A and project finance activity involving more than 1.1 GW of wind assets across the U.S., Canada and Latin America.
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In this exclusive interview with PFR, Mona Dajani, a partner at Baker & McKenzie’s banking and finance group sheds light on how the ongoing transformation of the power industry is driving corporate restructuring in the context of industry consolidation, and a potential uptick in M&A activity.
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SunEdison is the latest to join the bandwagon of private players investing in Brazil in spite of concerns over a nationwide economic lull and the declining contribution of the country's development bank to project financing.
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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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SunEdison could become the first sponsor to add solar storage assets to one of its yield companies through its partnership with Green Charge Networks, according to sources at the Belmont, Calif.-based company.
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A snapshot of lighter moments at the 2015 REFF Wall Street conference in New York replete with snippets of conversation and banter across panels, luncheons and cocktails.
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SunEdison is acquiring Globeleq Mesoamerica Energy from Mesoamerica Power and Actis Capital in a deal that marks the prelude to its expansion into Central America.
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PJM is proceeding with its annual capacity auction this summer following the FERC’s approval of its capacity performance proposals late on Tuesday, June 9.
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Competitive Power Ventures plans to raise financing for its 980 MW Fairview combined-cycle gas-fired facility in Cambria County, Pa., next summer.
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Barclays's stake purchase in a Rio de Janeiro-based startup could put a lid on investor concerns over what alternatives would emerge to offset a potential shortage of project-level funds from BNDES.
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NTE Energy is in the bank market to raise debt for two combined cycle gas-fired projects, each pegged at upwards of $400 million.
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Reno, Nev.-based geothermal shop Ormat Technologies has sold a 36.75% stake in its holding co. affiliate, ORPD to Toronto-based Northleaf Capital Partners for $162.3 million.
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Cheniere Energy is planning to add two additional trains at one of its LNG export projects, and plans to finance these trains in 2017.
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A subsidiary of Osaka Gas is making its first investment in a merchant facility through its purchase of a 25% stake in the 725 MW St. Charles CCGT project in Maryland from Marubeni Power International.
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Developers and financiers are actively planning securitizations for portfolios of solar installations, according to panelists at the Information Management Network’s 3rd Annual Sunshine Backed Bonds conference in New York on April 30 and May 1.
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With about 800 MW of wind trades grabbing the spotlight this week, this week has seen a spate of M&A activities in the wind space.
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BlackRock is taking a 90% stake in a pair of wind farms totaling 80 MW in Iowa from wind developer RPM Access.
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I Squared Capital has clinched a $3 billion fund focused on investments in infrastructure, including power and utilities.
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Scores of project financiers, investors and sponsors descended on The Wynn Las Vegas for one of the largest events in the power industry calendar: the Platts’ 30th Annual Global Power Market Conference.
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Project financiers at Platts’ 30th Annual Global Power Markets are competing for business as lenders continue to surge into power and energy deals in the Americas.
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Transactions backing solar storage could become mainstream in the coming years, according to panelists at Platts' 30th Annual Global Power Markets conference in Las Vegas on April 13.
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Rockland Capital is selling a 71 MW portfolio of contracted wind and solar projects in Minnesota and Massachusetts.
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Advanced Power has closed an $899 million debt and equity financing deal for the 700 MW Carroll County CCGT facility in Oregon, Ohio.
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Rockland Capital’s fund, Rockland Power Partners II is looking to complete its purchase of Valley Road, an LS Power Development subsidiary, which owns two gas-fired facilities totaling 503 MW.
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Global Infrastructure Partners’ second infrastructure fund, is buying a majority of Competitive Power Ventures’ business, and investing capital in the company.
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Northwestern Mutual is selling stakes in a 400 MW wind portfolio to an affiliate jointly owned by JPMorgan Capital Corp. and a Hannon Armstrong subsidiary.
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sPower has bought a solar portfolio of 16 assets from FLS Energy in Asheville, N.C.
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Evelyn Lim, partner at Chadbourne & Parke in Los Angeles, is leaving the firm to join TerraForm Power as managing director for North American origination.
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Innovative Solar Systems is talking to prospective buyers for a portfolio of shovel-ready utility-scale solar projects totaling roughly 500 MW in North Carolina.
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Jim Schaefer, senior managing director and global head of energy, power & renewables, has left Blackstone Advisory Partners in New York.
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AES Corp. has sealed its purchase of Boulder, Colo.-based solar developer Main Street Power for $25 million.
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Khosla Ventures has bought 100% of the equity in a 50 MW geothermal project owned by a subsidiary of EIG.
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This week’s Industry Current is written by David Burton, partner at Akin Gump Strauss Hauer & Feld in New York. Burton, who focuses on tax matters with an emphasis on project finance and energy transactions, examines the now delayed Sol-Wind IPO and compares it to traditional yield companies and master limited partnerships.
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Financings backing merchant and hedged projects continue to hit the sweet spot for lenders. Debt pricing also surfaced in several panels at Euromoney Seminars’ 10th Annual U.S. Power & Renewables conference held in New York this week.
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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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Harbert Management Corp. has closed its Harbert Power Fund V with $485 million in equity commitments from 58 investors.
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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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Renewable developers RES America and Blackstone Group-backed OffshoreMW have won leases in the largest U.S. offshore wind auction to date.
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Project finance and M&A activities continue to swirl in and around PJM.
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Sponsors and their lead bankers are making the rounds this month to potential lenders. SunEdison’s yield company TerraForm Power is in New York, Boston, Los Angeles and San Francisco on a road show for an $800 million bond offering.
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Capital Dynamics has sealed financing for the 150 MW Briscoe wind project in Briscoe County, Texas. GE Energy Financial Services and Morgan Stanley will provide tax equity, with Morgan Stanley supplying construction debt, a hedge and a letter of credit in a deal that closed in late December.
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Project finance lenders are increasingly looking to expand into solar distributed generation, as the cost continues to decline and deals gain traction in the market, said panelists at Infocast’s 7th Annual Projects & Money in New Orleans.
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Financiers, investors and developers are considering a bevy of changes in the power industry at a time when capital continues to flow into the sector. Yield companies, emissions regulations, natural gas supply, distributed generation and adjustments in capacity markets are among the catalysts that are shifting the power project finance and M&A landscape.
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A refinancing backing LS Power’s West Deptford combined cycle project in West Deptford, N.J., is set to close this month.
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Investec have closed a $195 million refinancing backing a portfolio of SunRun solar installations. Proceeds from SunRun’s first syndicated financing will be used to grow its residential solar business.
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Investec have closed a $195 million refinancing backing a portfolio of SunRun solar installations. Proceeds from SunRun’s first syndicated financing will be used to grow its residential solar business.
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Southwest Generation has wrapped a $240.7 million refinancing. The deal, which will stabilize the Denver-based shop’s portfolio and allow it to focus on increasing its asset base, closed on Monday.
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Duke Energy Renewables has acquired the 20 MW Halifax solar project in Roanoke Rapids, N.C., from Geenex and ET Solar Energy Corp.
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Fortistar has wrapped a $215 million deal backing its $241.4 million purchase of Primary Energy, an independent power producer that owns recycled energy assets in Indiana. Investec led the deal while Varagon Capital Partners was a joint lead arranger.
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Blackstone affiliate Onyx Renewable Partners has bulked up its finance team as it looks to deploy capital to develop, finance and operate utility-scale renewables projects in North America.
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Patriot Renewables has sold an equity interest in its 34.2 MW Saddleback Ridge wind project in Carthage, Maine, to an affiliate of family office Hartz Capital. Alyra Renewable Energy Finance advised Patriot on the sale, which wrapped last month.
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First Reserve is buying four cogeneration assets totaling 195 MW from ArcLight Capital Partners’ Juniper portfolio. McManus & Miles The parties filed for approval from the U.S. Federal Energy Regulatory Commission on Friday.
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Investec is set to close a $200 million refinancing backing a portfolio of SunRun residential solar installations by year-end. The seven-year mini perm is oversubscribed, a deal watcher notes, and will likely price at 275 basis points over LIBOR.
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Mitsubishi UFJ Financial Group is leading the power project finance league tables in North America in 2014, lending $1.9 billion year-to-date while Credit Agricole has topped the chart for the third quarter of this year, doling out $543 million, according to PFR affiliate Dealogic.
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Michael Hamilton, a former managing member of Boston-based Blue Wave Capital Partners, has joined AMP Capital as its investment director. Hamilton started with AMP Capital’s infrastructure equity team in New York on Dec. 8.
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The following Industry Current is an edited transcript of a discussion hosted by Chadbourne & Parke focusing on the benefits and disadvantages of the yield company structure.
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Several project financings and M&A transactions are popping on to the markets ahead of the regular year-end hush. ArcLight Capital Partners and the group of owners behind Astoria Energy joined the term loan B parade this week.
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Price talk on ArcLight Capital Partners $365 million term loan Chief Power package is coming in at LIBOR plus 450 to 475 basis points.
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Berkshire Hathaway Energy affiliate MidAmerican Energy Holdings Co. is making its premiere tax equity investment in the 298 MW Kingfisher wind project in Oklahoma.
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Jerry Stalun, a former managing director at EIG Global Energy Partners, has joined Sol Systems as its senior director of investments. Stalun joined the Washington D.C.-based company Nov. 21 and reports to Yuri Horowitz, ceo.
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Allete Clean Energy is buying a 108 MW wind project in Iowa from NRG Energy.
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The House of Representatives is set to vote on a package of tax extensions that includes a one-year renewal of the production tax credit this afternoon.
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ArcLight Capital Partners has launched a $365 million term loan package backing its purchase of stakes in two coal-fired assets in Pennsylvania from Exelon Corp.
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Energy Investors Funds is planning an initial public offering of a vehicle that will include landfill gas generating assets, according to documents the shop filed with the U.S. Federal Energy Regulatory Commission.
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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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Tucson Electric Power is finalizing its purchase a 550 MW unit of the 2.2 GW Gila River combined cycle gas-fired facility in Gila Bend, Ariz., from Entegra Power.
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AMP Capital raised $1.1 billion for its global Infrastructure Debt Fund II, surpassing its $1 billion target. PFR Senior Reporter Olivia Feld spoke to Andrew Jones, global head of infrastructure debt at AMP Capital headquarters in Sydney, about M&A driving lending activities and how the shop sources its deals.
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Nearly three dozen lenders are considering making commitments to Cheniere Energy’s $11.5 billion financing for the Corpus Christi liquefied natural gas export project in Texas, say deal watchers.
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Terra-Gen Power’s $300 million term loan B could wrap before its Dec. 3 commitment deadline on strong investor demand.
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SunEdison and TerraForm Power have agreed to buy First Wind for $2.4 billion, including a $510 million earn-out.
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Energy Investors Funds has sold half of its 869 MW Oregon combined cycle project in Oregon, Ohio, to infrastructure investor I Squared Capital.
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LS Power is considering bringing a portfolio of assets in PJM and New England to market.
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AMP Capital raised $1.1 billion for its global Infrastructure Debt Fund II, surpassing its $1 billion target. PFR Senior Reporter Olivia Feld spoke to Andrew Jones, global head of infrastructure debt at AMP Capital headquarters in Sydney, about investor response to fundraising and what the shop looks for in investments.
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Terra-Gen Power is pitching a $325 million financing package to pay down project level debt and purchase tax equity interests in a portfolio of wind farms.
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DTE Energy has agreed to buy a simple cycle gas-fired plant in Carson City, Mich., from LS Power.
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NRG Yield has agreed to purchase 785 MW of wind and gas-fired assets from parent NRG Energy for $480 million.
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Blackstone Group is out with a deal to upsize a $515 million term B loan by $160 million to acquire two assets from Optim Energy.
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Partnering with regional developers and focusing on financing, O&M and EPC activities are imperative to Conergy’s strategy for North America in the near-term. “We really feel that our global experience and bankability and readily available development capital provides the support that these partners need to successfully bring these projects forward,” Jared Donald, president of Conergy tells PFR Editor Sara Rosner in the second part of this exclusive interview.
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Offtakers in the North America are locking in contracts for an array of fuel types, from wind and solar, to landfill gas and coal.
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Third quarter earnings calls abounded this week.
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A unit of Ares Management has agreed to acquire Energy Investors Funds for an undisclosed sum.
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Several owners of the Neptune transmission line are selling down portions of their stakes in the asset to an affiliate of Ullico, a labor union-owned insurance and investment firm.
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AMP Capital has completed its final close on its Infrastructure Debt Fund II, raising $1.1 billion from investors and surpassing its $1 billion target.
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A group of creditors is taking over Kelson LP’s stake in the 620 MW Dogwood combined cycle facility in Pleasant Hill, Mo.
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The second installment of this Industry Current on tidal range power is written by Ted Verrill, president and ceo of Halcyon Tidal Power in Southport, Conn.
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Energy Investors Funds is looking to sell about half of its $860 million Oregon gas-fired project in Oregon, Ohio, in parallel to arranging a project finance package.
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The Carlyle Group is out with a $550.5 million term loan B package to finance its acquisition of a majority stake in Southeast PowerGen from ArcLight Capital Partners.
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Pattern Development Group and Samsung Renewable Energy have closed a C$580 million ($519 million) financing supporting the 180 MW Armow wind project in Kincardine, Ontario.
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Hydro-Québec Distribution has set a new deadline for its request for proposals for 450 MW of wind farms in Quebec.
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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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A variety of changes in PJM and ISO New England are going to re-shape how investors think about power investments in those regions, panelists said at Platts’ Financing U.S. Power conference in New York.
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The Teacher Retirement System of Texas is looking to make direct investments in energy assets, including power and midstream facilities.
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Bank of Tokyo Mitsubishi-UFJ has agreed to make a tax equity investment in NextEra Energy Resources’ wind farm in Colorado.
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It was a $7 billion week for power companies in the capital markets. Dynegy launched a multi-tranche $5.1 billion high yield bond sale to pre-fund its acquisition of 12 GW from Duke Energy and Energy Capital Partners.
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Energy Capital Partners has inked a $1.71 billion financing backing its acquisition of Wheelabrator from Waste Management.
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LS Power is in the market to sell the portfolio of hydro assets that it bought from FirstEnergy Corp., say observers.
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First Wind has agreed to sell stakes in a pair of wind assets in Texas and Washington to a trio of individuals associated with Southwest Generation.
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Dynegy is issuing three tranches of privately placed, senior unsecured notes totaling $5.1 billion to finance its acquisition of 12.5 GW from Duke Energy and Energy Capital Partners.
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Panda Power Funds is mulling how to finance its latest gas-fired project, the $500 million, 750 MW Stonewall combined cycle in Leesburg, Va.
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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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TerraForm Power and SunEdison are buying a portfolio of 30 MW of solar assets from energy retailer Just Energy Group.
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NRG Energy and LS Power are among a wave of sponsors out looking for repricings on project finance deals inked in 2011 and 2012.
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Autumn is a time for pumpkin-flavored everything, breaking out cozy sweaters and fresh starts for Entegra Power Group and Lincoln Renewable Energy.
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Cheniere Energy is talking to banks for an $11.5 billion financing backing its Corpus Christi liquefied natural gas export project in Texas.
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Entegra Power Group is planning to revive its efforts to either contract or sell its gas-fired portfolio now that it was emerged from Chapter 11 bankruptcy.
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Capital Dynamics and Prudential Capital Group have teamed up to buy a 300 MW wind project in Texas from Pioneer Green Energy.
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Southwest Generation is refinancing a portfolio of natural gas-fired assets in the southwestern U.S.
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Entegra Power Group has emerged from Chapter 11 bankruptcy proceedings with third lien lenders taking over the equity in a prepackaged plan
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SunRun is working with Investec to refinance a portfolio of residential solar installations.
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Escondida, the world’s largest copper mine by production in Chile, is catalyzing activity in the debt capital and project finance markets this week.
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Starwood Energy Group has agreed to buy the Quail Run combined cycle facility in Texas from Exelon Power, a subsidiary of Exelon Corp.
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A group of lenders aim to wrap a financing backing the 517 MW combined cycle Kelar project in northern Chile this month.
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A pair of energy efficiency securitization deals is percolating at Citigroup that could hit the market in the next six months.
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Joint venture partners Greenwood Energy and ILIOSS are talking to banks about financing a $500 million, 250 MW portfolio of distributed generation in Mexico.
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The Carlyle Group has agreed to buy ArcLight Capital Partners and Government of Singapore Investment Corp.’s stakes in Southeast PowerGen.
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The yield company dance card could double its size in 2015 as a variety of shops consider making a run at the public markets.
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The global wind and solar joint venture between Acciona and KKR could hit the public markets in the first quarter.
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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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Coronal Management, a solar developer and financier, has agreed to buy a 29 MW solar project from a subsidiary of hedge fund Centaurus Capital.
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About 7.8 GW of solar projects have applied for permitting before the Comisión Reguladora de Energia in Mexico, representing just more than half of the 15 GW of applications before the Mexican regulator.
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ConEdison Development has agreed to buy a stake in a wind project that Sempra U.S. Gas & Power is building in Nebraska, deepening its renewables partnership with the sponsor.
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Solar panel manufacturers and financial investors may be among the next generation of yield companies, according to analysts.
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After years of legal battles, regulatory struggles and a documentary film, the Cape Wind offshore wind project has arrived in the project finance market.
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Cape Wind has launched a wholesale syndication of a $1.95 billion package backing its 468 MW project off the coast of Cape Cod, Mass.
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Enel Green Power North America is finalizing a $400 million tax equity investment in 350 MW of wind assets from JPMorgan Capital Corp., MetLife Capital Credit and Bank of New York Mellon
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ArcLight Capital Partners is looking to flip the 512 MW Bayonne gas-fired plant in New Jersey.
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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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Solar developers with residential solar pipelines will be looking for tax equity in the next two years at a rate that could squeeze the existing liquidity in the market, according to panelists at IJGlobal’s North America Energy & Infrastructure Financing Forum in New York.
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Tenaska Capital Management affiliates have launched a $1.59 billion refinancing backing roughly 5 GW of merchant generation.
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E.ON Climate & Renewables North America is working with Bank of America Merrill Lynch to sell a portion of its 2.7 GW portfoio of wind assets.
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Enel Green Power North America is looking to bring an investor into its U.S. wind portfolio that clocks in north of 1.3 GW.
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DIF Infrastructure is looking to make equity investments in solar assets in North America.
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BayWa r.e. has acquired an 80 MW wind project in South Dakota, after guidance from the U.S. Internal Revenue Service on the production tax credit strengthened project.
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DIF Infrastructure has bought a solar farm in Napanee, Ontario, from Stonepeak Infrastructure, a deal that doubles its portfolio in the province.
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NTR is looking to hire advisors to sell its U.S. wind subsidiary Wind Capital Group.
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JPMorgan Capital Corp. is out to sell a stream of cash flows associated with a portfolio of wind tax equity deals.
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Dynegy is set to acquire 12.5 GW of coal- and gas-fired generation from Duke Energy and Energy Capital Partners in a pair of deals that shuffles the ranking of independent power producers.
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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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A slew of gas-fired projects are slated for development in the next 12-18 months, however, several factors will decide which projects make it through financial close.
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Olympus Power has put a 20 MW wind farm in Minnesota on the market.
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Prairie Plant Systems, a biotechnology company out of Saskatoon, Saskatchewan, has bought a 40 MW gas-fired facility in Michigan from Traxys Group, a commodity trading and lending firm.
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The second installment of this Industry Current is written by Anne Hampson, project manager, and Jessica Rackley, senior associate at ICF International in Washington D.C. For the first installment, click here.
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Calpine Corp. has agreed to buy the 809 MW Fore River gas-fired plant in Massachusetts from Exelon Corp.
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TransCanada and Elecnor have dropped out of a request for proposals to build and own the 310-mile Fort McMurray transmission project in Alberta.
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Dynegy is set to acquire 12.5 GW of coal- and gas-fired generation from Duke Energy and Energy Capital Partners.
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LS Power has refinanced its Cross Texas Transmission subsidiary with a $265 million private bond issuance.
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Greenwood Energy has partnered with ILIOSS, a Mexico City-based commercial rooftop solar developer, to develop about a pipeline of 250 MW of solar projects in Mexico that cost around $500 million.
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Starwood Energy Global Group has lined up construction financing and tax equity for a Texas wind project from Citigroup, Morgan Stanley and MUFG.
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Riverstone Holdings is in the market to sell 807 MW of gas-fired assets it bought from Morris Energy to mitigate issues that could arise with its planned generation merger with assets from PPL Corp.
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Santander and Banco Sabadell are close to wrapping a financing package backing the Red Horse 2 wind project in Arizona.
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This week’s Industry Current is written by Anne Hampson, project manager, and Jessica Rackley, senior associate at ICF International in Washington D.C.
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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 Investors Funds is gearing up to finance its $860 million Oregon gas-fired project in Oregon, Ohio.
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Developers, bankers and attorneys are eagerly anticipating billions of dollars of generation and pipeline tenders from Mexican state-backed utility Comision Federal de Electricidad.
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Power industry players circle a bundle of tenders in Mexico and the wind sector regroups stateside after the IRS unveils clarifications to the production tax credit.
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Invenergy is in the process of buying out a stake in the Grays Harbor gas-fired facility in Washington from Stark Investments.
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The U.S. Internal Revenue Service and Department of Treasury have issued clarifications on what it means to “begin construction” on a wind project in order to qualify for the production tax credit.
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Coronado Power Ventures has retooled a hunt for equity and debt for a $727 million, 690 MW combined cycle project in Cameron County, Texas, after some setbacks to an earlier process.
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SNC Lavalin Generation is selling its stake in the 561 MW Astoria Energy I facility in Astoria, N.Y., to affiliates of Mitsui & Co. and Harbert Management Corp.
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NTE Energy is looking to line up power purchase agreements for at least a portion of its $1.1 billion, 1.2 GW portfolio of gas-fired development projects ahead of financing.
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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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Editor Sara Rosner spoke with Frank DeRosa, chief commercial officer, and Ryan Bennett, head of North America project finance, about the SunEdison’s growth and development strategy, the impact of its yieldco and its take on the markets.
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Entegra Power Group is preparing for a prepackaged Chapter 11 bankruptcy filing that would make Wayzata Investment Partners and Luminus Management its majority owners.
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Energy Capital Partners has received first round bids for EquiPower Resources Corp.—the portfolio company for which it’s considering both an initial public offering and a sale.
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Gas-fired generation is on track to underpin, and possibly reshape, the U.S. project finance market as more than $13 billion of projects make their way through development and construction in the next 18 months.
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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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Emeka Onukwugha, managing director and co-head of Babson Capital’s private placement group, spoke with Managing Editor Holly Fletcher about what the firm has discovered about the power industry in the two years since it hired a trio of bankers to expand its power lending team.
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Mexico continues to roll forward with its landmark energy reforms this week, as the Senate passed a set of provisions that would essentially create a competitive wholesale power market in the country.
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Starwood Energy Group Global has agreed to buy equity stakes in a pair of gas-fired projects totaling 1.5 GW in Texas from FGE Power.
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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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SunEdison has revised its target initial public offering share price for its yield company TerraForm Power from $19-21 to $23-25.
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A bankruptcy court-run sale for Optim Energy’s coal-fired plant in Robertson County, Texas, is scheduled for Aug. 4.
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LS Power is expected to launch retail syndication by the end of the week of two financings backing the acquisition of two gas-fired facilities in the Southeast.
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Terra-Gen Power has agreed to buy a pair of small wind farms in Kern County, Calif., from a company owned by Chuck Hinckley.
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Residential solar shop Astrum Solar has closed on a $100 million financing package from Hudson Clean Energy Partners.
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AES Corp. has shelved its sale of 2.8 GW of gas- and coal-fired generation in Ohio, opting to put the assets into a new subsidiary.
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Rockland Capital is out to sell its Eagle Point cogeneration facility in New Jersey.
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Macquarie Infrastructure Co. has bought the19.8 MW Brahms wind farm in New Mexico from BayWa r.e. Wind for $10.6 million.
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Eolectric Club, a joint venture including Fiera Axium Infrastructure, has bought a minority stake in a C$400 million ($375 million) wind farm in Quebec that is owned by Enerfin Energy Co. of Canada.
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Quantum Utility Generation has bought a cogeneration facility in Nevada from Chevron and Dynegy.
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Cape Wind Associates has received a $150 million conditional loan guarantee from the U.S. Department of Energy for the $2.5 billion offshore wind project off the coast of Cape Cod, Mass.
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The following feature is the final installment of a transcript of a panel co-hosted by Orrick, Herrington & Sutcliffe LLP and PFR as part of our #PowerDrinks series.
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Atlantic Power Corp. has received fewer bids than expected as prospective buyers were stymied by questions about the company’s preferred transaction and uncertainty about a class action lawsuit.
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Tenaska is planning to arrange financing for an 800 MW gas-fired combined cycle facility in Texas by year-end.
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Exelon Corp. has received the initial bids for its Quail Run gas-fired facility in Texas.
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The following feature is a transcript of a panel co-hosted by Orrick, Herrington & Sutcliffe LLP and PFR as part of our #PowerDrinks series.
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If your last glass of rum knocked the wind out of you then you might not be ready for this. That rum in your piña colada just might have come from a factory powered by wind.
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Energy Capital Partners is exploring ways of exiting its four-year-old portfolio company EquiPower Resources Corp.
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The group of creditors that took over coal-fired facilities formerly known as AES Eastern Energy have reportedly put two coal-fired assets up for sale.
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Tenaska Solar Ventures has wrapped a $450 million deal backing its 150 MW Imperial Solar Energy Center West, near El Centro, Calif.
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ArcLight Capital Partners has sealed a $530 million term loan B package backing its Bayonne facility and ratcheted pricing down to 350 basis points over LIBOR.
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Primary Energy Recycling Corp., an independent power producer that owns recycled energy assets in Indiana, is working with Moelis & Co. on a sale.
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AES Corp. has agreed to sell its stake in solar developer Silver Ridge Power to SunEdison for up to $207 million.
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North Sky CleanTech Alliance Fund and NewWorld Infrastructure have teamed up to take an equity stake in an Ontario solar portfolio developed by Nautilus Solar Energy Canada.
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PPL Corp. and Riverstone Holdings have agreed to combine their respective unregulated generation portfolios into a single, publicly listed entity.
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LS Power has begun talking with commercial banks about how it will finance its acquisition of a 3.5 GW portfolio of gas-fired plants in the Southeast from Calpine Corp.
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Investment manager Oaktree Capital Management has agreed to buy Highstar Capital.
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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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ArcLight Capital Partners is gearing up to launch a $530 million term loan B package to fund its acquisition of Hess Corp.’s stake in the 512 MW Bayonne gas-fired facility in Bayonne, N.J.
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Michael Park, a senior investment officer in the loan guarantee programs office at the U.S. Department of Energy, has joined Noesis Energy in Austin, Texas, as a v.p. of project finance.
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SunEdison has agreed to buy AES Corp. out of Silver Ridge Power, AES solar joint venture with Riverstone Holdings.
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Invenergy Wind has closed a financing for its Marsh Hill wind project in upstate New York.
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AES Corp. and Duke Energy are awaiting the outcome of the 2017-2018 capacity auction in PJM before taking bids in their respective auctions of unregulated generation in Ohio.
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FLS Energy, a solar developer out of North Carolina, has lined up equity from a trio of investors.
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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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Capital Dynamics, a global asset manager, is looking for pre-construction assets in the U.S. as it raises a $750 million fund.
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Community wind developer OwnEnergy is in the market to raise capital.
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EverPower Wind Holdings has closed the acquisition of the merchant Big Sky wind farm in Illinois from Suzlon Energy.
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Enel Green Power North America has agreed to purchase an additional stake of the $370 million, 250 MW Buffalo Dunes wind farm in Kansas from GE Capital.
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ContourGlobal Power Holdings has issued a $400 million in privately placed high-yield notes.
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NextEra Energy Resources has been speaking to lenders stateside about financing its 60 MW Bluewater wind project near the coast of Lake Huron, Ontario.
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Second lien creditors have closed the takeover of MACH Gen via a Chapter 11 bankruptcy pre-packaged reorganization.
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Northwestern Mutual Life Insurance Co. has agreed to buy Starwood Energy Group’s stake in the Neptune transmission line in New York.
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The New York Green Bank, a New York-state sponsored investment fund, is looking to add a team of securitization experts, Alfred Griffin, president of N.Y. Green Bank told attendees at the Sunshine Backed Bond conference in New York.
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Pattern Energy Group is on track to buy a majority of the 218 MW Panhandle 1 wind project in Texas from Pattern Development for $125 million.
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Australian outfit Liquefied Natural Gas Limited has privately place $49.5 million in shares to existing institutional investors in Australia and the U.S. to fund the company’s operations until it reaches financial close on the debt for its $2.2 billion Magnolia LNG project.
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Nevada Power Co. has agreed to buy three gas-fired facilities in Nevada for $140.9 million as it looks to comply with a new state law regarding retiring and replacing coal-fired generation.
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Atlantic Power Corp. has retained Goldman Sachs and Greenhill & Co. to run a strategic evaluation.
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Despite the expiration of the production tax credit, wind is set to have a solid year of project financings, according to Kevin Walsh, managing director and group head of power and renewables at GE EFS.
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Hannon Armstrong Sustainable Infrastructure is in the final stretch of negotiations to buy American Wind Capital, observers say.
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La Caisse de dépôt et placement du Québec has bought a stake in Invenergy’s Parc des Moulins in Québec for C$42 million ($38.1 million).
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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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TIAA-CREF has invested in a $1.4 billion combined cycle project in New York being developed by Advanced Power NA—the first of what is expected to be a series of partnerships.
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The U.S. Department of Energy is seeking applications for up to $4 billion of innovative renewables and energy efficiency projects in the latest iteration of the loan guarantee program.
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The pool of cash dog-eared for the distributed solar market is deepening as the sector matures.
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CalPERS and Harbert Management Corp. have emerged as the joint frontrunner in the auction of Ontario Teachers’ Pension Plan Board’s stake in Northern Star Generation.
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LS Power is buying 3.5 GW of gas-fired assets from Calpine Corp. for $1.57 billion in cash.
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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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Silver Ridge Power is increasing its equity stake in a 150 MW solar project in Imperial County, Calif., owned by Tenaska Solar Ventures.
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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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Abundant sources of capital are driving down prices, noted panelists at Platts’ 29th Annual Global Power Markets conference at the Wynn Las Vegas in Las Vegas, Nev., April 8.
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Rockland Capital is financing its purchase of the Elgin gas-fired simple cycle facility in Illinois with a $50 million loan from GE Energy Financial Services.
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First Wind has sold $75 million in senior notes in a follow-on private placement to a $200 million issuance that matures in 2018.
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ArcLight Capital Partners has mandated UBS to sell a gas-fired plant in Texas.
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AMP Capital has raised another $450 million to take the overall amount in its AMP Capital Infrastructure Debt Fund II to more than $750 million.
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Macquarie Group and Altus Power America Management have launched a $100 million Clean Energy Land Program to help finance solar and wind projects in the U.S. by covering real estate costs associated with project development.
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Entegra Power Group is gearing up to sell a portion of its 2.2 GW Union Station combined cycle facility in El Dorado, Ark., according to investors.
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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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ArcLight Capital Partners has agreed to sale its stake in the Sabine Cogeneration facility in Texas to Rockland Capital.
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Acciona has taken initial bids from investors looking to buy into its 2.5 GW global wind and solar portfolio.
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Ares Capital Corporation has added Owen D. Hill and Jonathan M. Shepko, formerly managing directors at a Beal Bank affiliate, as managing directors in the company’s Dallas office.
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Corona Power is out to take first round bids from potential investors in a 900 MW gas-fired repowering of its Sunbury Generation coal-fired facility in Shamokin Dam, Pa.
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Tyr Energy has formed a joint venture with Calgary-based EmberClear Corp. on two 330 MW combined cycle gas-fired projects in Pennsylvania that have a combined development price tag of about $800 million.
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Terra-Gen Power’s management presentations are set to begin next week as the sale of its 947 MW of Alta wind assets heads into the second round.
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Pattern Energy Group LP is on track to buy a pair of wind projects totaling 231 MW in the Peace Region of British Columbia from Finavera Wind Energy.
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ArcLight Capital Partners has come back to market with a subset of its 2.8 GW Southeast PowerGen subsidiary in Georgia, about seven months after icing the original deal.
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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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UBS International Infrastructure Fund’s decision to not sell its stake in Northern Star Generation and chatter about a limited partner or two coming in for stakes is coloring the auction of Ontario Teachers’ Pension Plan Board’s stake.
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Working with local stakeholders and lenders in a constructive manner are critical factors in financing projects in Latin America, noted panelists at Euromoney’s 8th Annual Latin American Energy & Infrastructure Finance Forum at the Biltmore Hotel in Miami on March 11.
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ArcLight Capital Partners has re-launched the sale of its nine cogeneration facilities under its Redwood portfolio in California after extending the power purchase agreements on several.
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Energy Capital Partners has received commitments from six public retirement plans across the country totaling up to $615 million for its targeted $3.5 billion third fund.
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ArcLight Capital Partners is selling its minority stake in a waste coal-fired plant in Kennderdell, Pa., to Olympus Power.
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A burgeoning lender base and slower deal flow are helping sponsors drive down pricing and secure attractive terms.
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K Road Power is selling a solar facility in California to a shop backed by hedge fund BlueMountain Capital Management and Global Cleantech Capital.
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An affiliate of JPMorgan will be the sole owner of a gas- and oil-fired plant in Maryland after a sale leaseback agreement with Panda Energy International is terminated.
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Optim Energy, the independent power producer backed by Bill Gates’ Cascade Investments, is looking to sell its three generation facilities totaling 1,455 MW in a court-run bankruptcy sale process.
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A unit of Energy Capital Partners will have voting power in MACH Gen via a derivative contract with second-lien debt holder Deutsche Bank.
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Boutique advisory shop RedWind Consulting has launched a process to bring in a buyer or tax equity investor in a contracted late stage project in the Midwest.
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Check out Power Finance & Risk's special report focusing on the burgeoning LNG export industry in the U.S. and the latest opportunities in development and financing.
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The sale of AltaLink, LP, a regulated transmission utility in Alberta, Canada, by owner SNC-Lavalin Group is attracting a swath of buyers.
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Carl Weatherley-White has joined a new firm, Lightbeam Electric Co., headed by James Lavelle, formerly founder, ceo and chairman of information technology services and digital media company Cotelligent Group.
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EverPower Wind Holdings has entered a deal to buy a merchant wind farm in Illinois from Edison Mission Energy via Suzlon, the lender to the farm.
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The owners of MACH Gen have agreed to a pre-packaged Chapter 11 bankruptcy filing with second lien creditors.
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Rockland Capital has lined up Union Bank to provide tax equity for its 48 MW Lakeswind wind farm in Minnesota.
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Alinda Capital Partners, Exelon Corp., Macquarie Infrastructure and WGL Holdings, the holding company of Washington Gas, are said to be in the final round for Philadelphia Gas Works.
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Borealis Infrastructure has agreed to buy Cameco’s stake in the Bruce Power nuclear facility in Tiverton, Ontario, for C$450 million ($406.3 million), making it majority owner.
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Denver-based solar company Conergy Americas has launched a $100 million fund to finance solar projects in the U.S.
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Rockland Capital raised $425 million in its second fund, the shop’s hard cap and target, in a six month fundraise.
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Utilities and independent power producers are not immune from the wave of activist shareholders campaigns that have emerged as a driving force of U.S. M&A deals, bankers cautioned at the 27th Annual Exnet Power and Gas M&A Symposium conference in New York.
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Energy efficiency and demand response assets in the U.S. are investment opportunities that have been largely overlooked by large financial players.
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Joule Assets is raising a $100 million fund to lend to commercial and industrial energy efficiency assets as a step toward securitizing the cash flows from the projects.
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Kilowatt Financial, a financial services company focused on residential energy efficiency and solar, has received a $100 million debt facility from Citigroup to fund its residential energy efficiency loan unit.
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In this week's round-up: Exelon launches first B loan of 2014 whiel FGE Power mandates Goldman Sachs to advise on financing for a merchant combined cycle project in Texas.
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Longview Power, LLC is set for a bankruptcy court hearing in February for final approval on a plan that converts debt held by affiliates of three heavyweight creditors to equity.
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Developer Footprint Power on track to have debt and equity in place by the end of the quarter for the $1 billion gas-fired redevelopment of a coal-fired plant in Salem, Mass.
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First Solar has started construction on the 22 MW first phase of its Barilla solar project in Pecos County, Texas.
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Canadian Solar is providing modules for the 10 MW Silvercreek solar project in Elgin County, Ontario, that is slated to be operational in July.
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Elementa Group has arranged a 20-year power agreement with the Ontario Power Authority for its 10 MW waste-to-energy project in Sault Ste. Marie, Ontario.
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The Quebec Office of Public Hearings on the Environment has determined that Invenergy does not need a public hearing over the C$69 million ($61.9 million), 21 MW des Moulins 2 wind project.
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Greenwood Energy and Soltage, joint developers of a commercial solar portfolio in four states, have lined up $40 million in equity financing from John Hancock Financial and Libra Group.
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BP Alternative Energy has agreed to sell a wind project in Indiana to Pattern Energy LP.
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The Alberta Electric System Operator has shortlisted five for the final round of a request for proposals to develop and own the roughly 310-mile Fort McMurray West 500 kV transmission project in Alberta.
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Entegra Power Group is working on several fronts to restructure its finances, including proceeding with an asset sales agreement, inking a tolling agreement and scoping a second lien refinancing.
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Legal issues in PJM and a waning need for generation in ERCOT are impacting investments in new-build projects in those regions, according to panelists at Infocast’s 6th annual Projects & Money conference at Harrah’s New Orleans Jan. 15.
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Mezzanine lending and project bonds are tipped for increasing activity by panelists at Infocast’s 6th annual Projects & Money conference at Harrah’s New Orleans Jan. 16.
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EDF Renewable Energy has bought a wind project in New Mexico just as it sold a majority stake in Shiloh IV wind farm.
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Terra-Gen Power is aiming to sell its remaining 947 MW of the roughly 3 GW Alta wind series in the Tehachapi region of California.
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Energy Investors Funds has bought the Channelview cogeneration facility in Texas from Global Infrastructure Partners and Fortistar.
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Starwood Energy Group has closed a $265 million construction debt including letters of credit and tax equity package backing the 211 MW Stephens Ranch wind project near Lubbock, Texas.
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NRG Energy has secured a $97.4 million senior secured credit facility refinancing its 105 MW Saguaro combined cycle cogeneration facility in Henderson, Nev., which it had been trying to sell.
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Globeleq has closed a $105.1 million financing backing the 50 MW Orosi wind project in Liberia, Costa Rica.
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EDF Renewable Energy and UBS International Infrastructure Fund are planning to finance the construction of a 161 MW wind project in Texas with equity and tax equity.
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Blackstone has agreed to buy a 1.3 GW gas-fired portfolio in Texas from Direct Energy for $685 million.
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UBS International Infrastructure Fund is in the process of buying into a wind project being developed by EDF Renewable Energy in Texas.
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Energy Capital Partners upsized its $125 million term loan C add-on by $25 million on strong investor demand.
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Highstar Capital has closed its acquisition of half of the 800 MW Linden cogeneration facility from GE Energy Financial Services in tandem with a recapitalization of the plant.
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Panda Power Funds and Moxie Energy are on track to reverse flex the $585 million financing package backing the $800 million, Moxie Patriot gas-fired project.
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Entegra Power Group has retained Houlihan Lokey in preparation for a potential restructuring.
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Riverstone Holdings has upsized its term loan B backing Raven Power Finance by $25 million to $375 million.
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Invenergy and Stark Investments have closed the financing of the merchant 584 MW Nelson project in Lee County, Ill.
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Pieridae Energy, developer of the up to $10 billion Goldboro liquefied natural gas export project in Nova Scotia, is looking for a majority equity investor.
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In this week's round-up: Project financing in the third quarter saw structural shifts with investment banks being bested by Japanese and Canadian lenders although a late year B loan wave could change the Q4 roster.
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Sponsors have been in the B loan market this month to arrange an aggregate of $1.085 billion by the holidays—a late minute sprint that underscores the overall strength of the B loan market for the year.
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American Wind Capital, the shop headed by Chuck Hinckley that aggregates wind and solar farm land lease royalties, is out to raise capital.
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Mississippi regulators have rejected Entergy Corp.’s proposal to transfer its 15,000 miles of transmission assets to ITC Holdings Corp. under a two-year-old deal that has already faced scrutiny and setbacks.
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Ontario Power Generation fired its cfo and two v.p.s following a report from the Ontario Auditor-General that contends the utility potentially compromised nuclear safety and drove up power prices throuh nepotism, high labor costs and a generous pension.
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Kentucky Power is planning to convert the 278 MW Unit 1 at its Big Sandy coal-fired plant to a gas-fired facility in a project that is not to exceed $60 million.
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Riverstone Holdings is looking to cut pricing on the debt backing Raven Power Finance by about 150 basis points with its proposed $390 million refinancing.
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Nicholas Akins, president and ceo of American Electric Power, has been elected chairman of the board by the company’s Board of Directors.
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Apex Clean Energy is in the market to sell a 300 MW wind project in Oklahoma.
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Price talk has emerged for Energy Capital Partners’ $125 million term loan C add-on at LIBOR plus 325 basis points.
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Rockland Capital has terminated its agreement to buy five gas-fired assets totaling 433 MW from Maxim Power Corp.
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Energy Capital Partners is planning to launch a $125 million term loan C add-on Thursday to finance the acquisition of the Richland-Stryker gas- and oil-fired asset in Ohio.
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Southwest Generation’s sale of a gas-fired plant in New Mexico is in its second round, says a deal watcher.
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Riverstone Holdings is teeing up a $350 million refinancing of its Raven Power Holdings subsidiary.
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Calpine has agreed to buy Wayzata Investment Partners’ 1 GW Guadalupe combined cycle facility near San Antonio for $625 million.
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Energy Capital Partners has agreed to buy the Richland-Stryker gas- and oil-fired facilities and development project from an investor consortium that includes Quintana Infrastructure & Development, BlackRock and Starwood Global Energy Group.
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DIF, an infrastructure fund based out of Europe, has agreed to buy four solar projects in Ontario from Canadian Solar.
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NRG Energy has agreed to sell a cogeneration facility in Cambridge, Mass., to a joint venture between Veolia ENH and ISQ Global Infrastructure Fund.
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Invenergy has lined up tax equity investments for a $448 million, 200 MW wind project in Nebraska from a trio of heavy weight players.
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Several prospective bidders awaiting confidential information memos for Ontario Teachers’ Pension Plan Board’s stake in Northern Star Generation would like to own the whole portfolio if it was up for sale, say deal watchers.
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Three staffers from Rabobank’s renewable energy team have joined private equity shop Pegasus Capital Advisors in New York.
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GE Energy Financial Services and Highstar Capital have reverse flexed the $925 million refinancing package for the Linden cogeneration facility in New Jersey to LIBOR plus 275 basis points.
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GE Energy Financial Services is selling a portion of its tax equity commitment to a wind farm owned by Alliance Power to Wells Fargo.
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In this week's round-up: The B loan market quiets ahead of the holidays while SunRun lines up debt from Ares Capital Management and Tenaska Capital Management names a new CEO.
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Energy Capital Partners is hitting the pavement to find investors for its third fund, Energy Capital Partners III.
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Global Infrastructure Partners has received final bids for its Channelview cogeneration facility near Houston, Texas.
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Infigen Energy has agreed to form a joint venture with JPMorgan Capital Corp. on tax equity stakes in a portfolio of nine of its wind farms.
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LS Power is trying to sell its Cherokee gas-fired facility in South Carolina.
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Recurrent Energy has agreed to sell a portfolio of solar projects in California and Arizona to affiliates of Google and KKR.
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Dan Lonergan, formerly a senior managing director at Tenaska Capital Management, has been promoted to ceo.
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John Hancock Life Insurance Co. is taking a stake in Competitive Power Ventures’ 725 MW Woodbridge combined cycle project from ArcLight Capital Partners.
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Brookfield Renewable Energy Partners has agreed to buy 85 MW of hydro facilities in Maine and California in a pair of deals with ArcLight Capital Partners and Exelon.
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GE Energy Financial Services and Highstar Capital today launched a $925 million B loan package refinancing the 942 MW Linden cogeneration facility in New Jersey.
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LS Power has begun to mull whether to proceed with a term loan B refinancing for its 850 MW Doswell gas-fired facility in Ashland, Va., that has been on the market since May.
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Prudential Capital Group has agreed to buy a minority stake in a solar project in California being developed by Tenaska.
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ArcLight Capital Partners is aiming to sell its Black Bear Hydro portfolio in Maine.
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Energy Capital Group, a solar developer out of Provo, Utah, is weighing options on how to proceed with financing its $600 million project in Utah as the company looks for a power purchase agreement.
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NRG Energy has emerged as the stalking horse bidder in the bankruptcy court-run sale of Edison Mission Energy with an agreement to pay $2.635 billion for 7.5 GW and a trading and marketing subsidiary.
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Tenaska Capital Management is preparing to fundraise for a third fund, Tenaska Power Fund III.
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A debt package in the region of $4 billion backing Freeport LNG’s liquefied natural gas export facility is set to hit the market in mid-November.
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A robotic assassin from a post-apocalyptic future is sent back in time. Instead of trying to eliminate a woman, who will later give birth to the man who will lead the uprising against the sentient robots, this robot will install solar panels.
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Greenleaf Power has bought a cogeneration facility in St-Felicien, Quebec, from Enel Green Power North America, marking the company’s first acquisition outside of the U.S.
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Gulf Pacific Power, a subsidiary of Harbert Management Corp., is buying out a portion of SNC-Lavalin’s stake in in Astoria Energy II, the 550 MW combined cycle facility, in New York.
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Rockland Capital has agreed to buy a set of three gas-fired plants in Illinois from Ameren.
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First Wind is talking to banks about relighting the term loan B it took to market in the summer and pulled over pricing.
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American Electric Power-Public Service Co. of Oklahoma has agreed to 20-year power purchase agreements for 600 MW of wind power from Apex Clean Energy Holdings, NextEra Energy Resources and TradeWind Energy.
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The province of Ontario has opted to refurbish its existing nuclear facilities, scrapping its plans to develop two nuclear projects.
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K Road Power is looking to sell its solar development pipeline.
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Google has agreed to invest about $103 million in Silver Ridge Power’s 265 MW Mount Signal solar project in Imperial County, Calif.
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People’s Electric Cooperative in south central Oklahoma has launched a request for proposals for 140 MW of power.
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In this week's round-up: Three investors have collected fresh dry powder and concerns swirl about how the government shutdown will impact production tax credit qualification.
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Energy Capital Partners has agreed to sell its 1 GW Odessa combined cycle plant in Texas to a subsidiary of Koch Industries.
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If you’ve got a smart phone and you’re not obsessively checking this app then probably you don’t own generation in Texas.
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This week’s Industry Current is written David Burton, partner at Akin Gump Strauss Hauer & Feld in New York.
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The International Finance Corp. has closed a $1.2 billion infrastructure investment fund, up from a proposed total of $1 billion.
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Stonepeak Infrastructure Partners has closed its first fund at $1.65 billion.
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David Nason, senior v.p. and global regulatory management and compliance officer at GE Capital, will take over GE Energy Financial Services as president and ceo.
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Rockland Capital has hit a first close on its second fund, Rockland Power Partners II.
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PFR Managing Editor Sara Rosner sat down with Ted Brandt, Gregg Elesh, Terry Grant, and Wendy Carlson to get the Marathon Capital team’s perspective on buying and selling assets in today’s market.
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Tucson Electric Power is in talks with Entegra Power Group to buy a unit of the 2.2 GW Gila River combined cycle in Gila Bend, Ariz.
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Sungevity, a residential solar leasing company, has retained Infrastructure Finance Advisors, a boutique advisory shop headed by Richard Ashby, to help raise capital.
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The California Public Utilities Commission is considering proposals that would not allow Southern California Edison and San Diego Gas & Electric to recover costs associated with power purchase agreements since the San Onofre Nuclear Generating Station has been offline.
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Canadian Solar has sold a pair of solar assets in Ontario, Canada, totaling 16 MW to TransCanada, the first two in a nine-asset, C$470 million ($454 million) agreement the companies made in June.
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Capstone Infrastructure Corp. has closed the acquisition of Renewable Energy Developers, formerly Sprott Power Corp.
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A U.S. District Court judge in Maryland has over turned a state subsidy for Competitive Power Ventures’ 660 MW gas-fired project, siding with utilities, including PPL Corp., that argued they would lose money if the state began to subsidize new projects.
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PNM Resources is evaluating whether to buy a stake in a gas-fired plant with which it has a power purchase agreement.
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NRG Energy has partnered with Digicel will look for developers to submit projects in a request for proposals as the duo looks to acquire, construct and own renewable projects in the Caribbean as part of a new joint venture.
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Congress seems unlikely to extend tax credits for renewable projects by the year-end expiry.
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Ormat Technologies has inked a contract with eBay Inc., to develop a 5 MW recovered energy generation project in Utah.
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Abengoa is preparing to start construction in early 2014 on a $165 million, 70 MW wind farm in Palomas, Uruguay.
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Sempra U.S. Gas & Power has bought a wind project in Nebraska from Midwest Wind Energy, observers say.
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First Solar has bought the 350 MW Moapa solar project in Clark County, Nev., from developer K Road Power.
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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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Calling all weekend culinary artists: can you whip up your favorite recipes on fewer kWh?
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In this week's round-up: Utilities tap bond market ahead of the U.S. Federal Reserve's taper plan while the generation M&A market heats up.
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Ontario Teachers’ Pension Plan Board is looking to sell its stake in Northern Star Generation, an independent power producer that owns 1.2 GW in the U.S.
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Panda Power Funds has closed its purchase of a majority interest in a 750 MW combined cycle project in Loudoun County, Va.
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Pattern Energy is on track to list on the NASDAQ and Toronto Stock Exchange tomorrow.
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Tenaska Capital Management is in the market to sell a trio of peakers in California, Virginia and West Virginia.
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PJM has given FirstEnergy Corp. the go-ahead to retire two coal-fired plants totaling 2 GW.
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Consumers Energy has received approval from MISO and the Michigan Department of Environmental Quality to retire seven coal-fired units totaling 950 MW by year-end.
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Deepwater Wind is planning to ask Rhode Island’s State Properties Committee to allow the company to buy an undersea transmission cable under Scarborough State Beach that runs to its five turbine offshore wind project near Block Island.
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Edison Mission Energy’s generation fleet is attracting strong attention in the run up to the deadline for first round bids. Indicative offers are set to come in next week.
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NSTAR, National Grid, Unitil and Western Massachusetts Electric Co. have agreed to power purchases totaling 565 MW with six wind farms being developed in Maine and New Hampshire by First Wind, Iberdrola Renewables and Exergy Development Group.
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A Union Bank subsidiary is taking over 54% of the tax equity in Noble Environmental Power’s underperforming Great Plains wind farm in Texas.
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In this week’s round-up: Several sponsor wrap project financings and a pair of solar securitizations is on the horizon.
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In a sector packed with project finance and M&A giants from Europe and Wall Street, Marathon Capital stands out as an independent advisory shop that continues to net business with power industry heavyweights.
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Tyr Energy has named Garrick Venteicher, cfo, as acting ceo on the departure of the Karl Usami, ceo.
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Wayzata Investment Partners is weighing a sale of its 1 GW Guadalupe combined cycle facility in Marion, Texas.
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In this week's round-up: Richard Kauffman talks New York State Green Bank; hydro and gas-fired assets come off the Northeast market; and American International Group tees up for project finance insurance play.
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Algonquin Power & Utilities has sold a portfolio of hydro assets in the Northeast totaling 29 MW to a portfolio company of Hudson Clean Energy Partners for $27 million.
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Tenaska Capital Management has agreed to buy U.S. Power Generating Co.
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Pattern Energy is aiming to sell 16 million shares at $19-21, for a dual initial public offering of up to $336 million in the U.S. and Canada.
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The Carlyle Group is set to buy the Red Oak combined cycle facility in Sayreville, N.J., from Energy Capital Partners.
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Three private equity firms have committed $67.3 million in debt and equity to back the construction of 150 MW of SunEdison’s utility scale solar facilities in California.
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TradeWind Energy, an affiliate of Enel North America, has agreed to buy a $160 million wind project in Oklahoma from Wind Capital Group.
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FirstEnergy Corp. has agreed to sell a portion of its 1,240 MW of hydro assets in PJM to LS Power.
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Invenergy has closed a C$410 million ($390.74 million) refinancing of the 584 MW natural gas-fired St. Clair facility near Sarnia, Ontario.
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Alyra Renewable Energy Finance is reaching out to developers on behalf of a relatively new entrant that is looking to buy renewable assets in the U.S. and Canada.
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Longview Power, LLC, the independent power producer backed by First Reserve, has filed for Chapter 11 protection in the U.S. Bankruptcy Court District of Delaware.
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The City of Philadelphia has kicked off the sale of its municipal Philadelphia Gas Works.
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Zeep Management U.S., an Austin, Texas-based clean energy and fuel development shop has tapped Morgan Stanley to lead a debt package for a $1.3 billion natural gas-to-methanol project in Louisiana.
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You’ve likely got a piece of Panda Power Funds’ B loans—there has been $1.69 billion to hook into since July 2012—but do you know how the shop got its name?
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In this week's round-up: AMP Capital hits first close, Panda Power Funds clinches its Liberty loan and the equity markets are still difficult for power companies to crack.
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Entegra Power Group is looking to put its two combined cycle assets totaling 4.4 GW in Arizona and Arkansas on the block.
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In a rare interview, Michael Polsky, founder of Chicago wind shop Invenergy, and Jim Murphy, coo and cfo, sat down with PFR Executive Editor Peter Thompson to discuss the market, as well as Invenergy’s solar strategy and why an IPO is not in the cards.
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Threshold Power has pulled its CAD$120 million ($114 million) initial public offering registration filings for its income trust company backed by tax equity stakes.
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Threshold Power has pulled its up to CAD$120 million ($114 million) initial public offering registration filings its income trust company backed by tax equity stakes.
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American Wind Capital is nearing the close of its $100 million loan backed by renewable land leases.
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Edison Mission Energy is marketing coal, gas and wind generation assets as part of its Chapter 11 bankruptcy proceedings.
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In this week's round-up: Financings, both commercial debt and institutional loans, are washing through the pipeline.
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Starwood Energy will look to the project finance markets to fund construction of the first phase of a roughly 377 MW wind project in Texas that it has purchased from T. Boone Pickens’ Mesa Power Group.
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LS Power is targeting a post-Labor Day launch for its term loan B refinancing its stake in the 900 MW Sandy Creek pulverized coal-fired plant in Texas.
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Tenaska Capital Management’s $475 million term loan B refinancing has been downsized to $350 million as of this morning, deal watchers say.
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Rockland Capital is refinancing a second lien term loan on its La Paloma Generating Co.
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Colombian state-owned transmission company ISA has tapped BBVA as advisor for the financing of its approximately $1 billion transmission line project in Chile.
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Pattern Energy Group, Inc., has filed its S-1 with the U.S. Securities and Exchange Commission to raise $345 million in an initial public offering in the U.S. and Canada.
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The San Bernardino County Planning Commission is considering an application from an Ohio-based group called Sycamore Physicians Partners—a group of doctors investing in solar projects—that is planning a 2.7 MW solar project in Oak Hills, Calif.
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Ontario Power Generation has received an operating license until 2018 for its Pickering nuclear facility from the Canadian Nuclear Safety Commission.
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Wayzata Investment Partners has put a combined cycle plant near Albany, N.Y., on the market.
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The planning board of Richfield, N.Y. will hold a meeting tonight to consider a permit for Ridge Energy’s Monticello Hills wind project.
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The San Bernardino County Planning Commission is considering an application from an Ohio-based group called Sycamore Physicians Partners—a group of doctors investing in solar projects—that is planning a 2.7 MW solar project in Oak Hills, Calif.
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Pattern Energy is in the final stages of preparation to go public in Canada and the U.S.
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FirstEnergy Corp. is in the second round of due diligence with buyers interested in its 1,240 MW of hydro assets in PJM.
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Panda Power Funds is nearing a first close on its up to $1 billion second power investment fund, with the company’s pipeline of shovel-ready projects reportedly drawing interest.
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Rockland Capital has agreed to buy a portfolio of gas-fired assets totaling 433 MW from Maxim Power.
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Tenaska Capital Management is aiming to refinance a merchant gas-fired portfolio totaling 1.83 GW.
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In this week's round-up: Sponsors watch price talk on B loans sponsored by Moxie Energy and First Wind and developers survey the yieldco frenzy.
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First Wind, NextEra Energy Resources and Terra-Gen Power are evaluating potential yield company listings.
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ArcLight Capital Partners has reportedly pulled its 2.8 GW gas-fired fleet in Georgia off the market.
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U.S. Power Generating is on track to receive final bids for its 2.3 GW Astoria Generating Co. unit in the remaining weeks of summer.
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Summit Power Group is aiming to break ground this fall on its roughly $2.5 billion, 400 MW coal gasification project in Penwell, Texas.
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Covanta Energy is planning a $30 million expansion to a waste-to-energy plant in Niagara Falls, N.Y., that would allow it to receive 300,000 tons of waste from New York City by train.
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Capital Power is preparing for final bids for its trio of gas-fired assets in New England, after indicative bids in early June came in above book value.
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LS Power is aiming to refinance bank debt on its 900 MW Sandy Creek pulverized coal-fired plant in Riesel, Texas.
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Sunrun, the San Francisco-based residential solar service provider, has hired Goldman Sachs to run a strategic evaluation.
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First Columbia Energy Holdings, a development shop based in Toronto, has garnered interest from about a half dozen prospective investors looking to buy into its 1 GW wind project in British Columbia.
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Carlyle Infrastructure Power Partners II is set to land a portfolio of gas-fired assets in California, including CalPeak Power.
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European and U.S. investment banks have continued to move up the North America project and energy finance league table ladder in the second quarter as they snag mandates in the booming B loan market.
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Harbert Management Corp. is buying Energy Investors Funds’ 33.3% stake in the 550 MW Astoria Energy II combined cycle plant in New York.
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In this week's roundup: Mezzanine debt shows up around the renewables space while sponsors wait in the wings for stability in the B loan market.
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Stonepeak Infrastructure Partners, a New York-based private equity shop spun out of The Blackstone Group, has topped $1 billion for its debut fund.
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Advanced Power NA is looking to bring in an equity partner into its roughly $1.4 billion, 1 GW combined cycle facility in Dover, N.Y.
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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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American Wind Capital, the venture headed by wind veteran Chuck Hinkley, is working with CIT Group to arrange an innovative loan structure backed by a pool of wind farm land leases.
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A syndicate of tax equity lenders will provide $260 million to Enel Green Power and GE Energy Financial Services’ 250 MW Buffalo Dunes wind project in Grant, Finney and Haskell Counties, Kan.
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Longview Power has detailed a pre-pack bankruptcy filing proposal with its creditors, deal watchers say.
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Threshold Power Trust has filed its preliminary prospectus to list on the Toronto Stock Exchange.
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In this week's roundup: Texas M&A market heats up and JPMorgan Capital splashes into solar distributed generation with a Sunrun investment.
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Global Infrastructure Partners is looking to sell its Channelview cogeneration facility near Houston as the market sees more buyer interest.
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FGE Power, a Houston-based independent power producer, has started discussions with prospective investors for its roughly $500 million, 726 MW combined cycle project in Westbrook, Texas.
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Private equity-backed Union Energy Group has acquired Peruvian project development company Generación Andina from EnBW Energie Baden-Württemberg.
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Renewable project financing options beyond the expiration of the production and investment tax credits was the focus at Euromoney Energy Events Renewable Energy Finance Forum Wall Street at the Waldorf Astoria in New York this week.
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Edison Mission Energy has hired JPMorgan as co-advisor to run a strategic sale process for its generation assets.
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ArcLight Capital Partners has received the final bids for its 2.8 GW Southeast PowerGen portfolio.
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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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LS Power is trying to sell a 20 MW solar development project in California.
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Samsung Renewable Energy has scaled back its investment in renewable energy development in Ontario to C$5 billion ($4.74 billion) from a planned C$7 billion ($6.64 billion).
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Tenaska has shelved plans to build the Taylorville carbon-capture coal-fired project in Taylorville, Ill., given lack of support from Illinois legislators.
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LS Power and Riverstone Holdings encountered investor resistance to their respective B loan packages as the market softened on broader economic jitters.
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Energy Capital Partners is aiming to sell its 1 GW combined cycle facility in Odessa, Texas.
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In this week's round-up: Power companies seize on the attractive rates to repay debt and fund construction while investors get a glimpse into Mexico wind opportunities.
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Edison Mission Energy is talking with the lessors on its Midwest Generation coal-fired plants about extending the negotiation window for their contracts.
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Price talk on MidAmerican Energy Holdings’ subsidiary Solar Star Funding’s $700 million of 144A senior secured notes has come in to 5.375% from 5.5%.
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EDP Renewables North America is talking to investors to secure equity and tax equity partners for its $350-400 million, 200 MW Headwaters wind project in Randolph County, Ind.
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TransAlta Corp. and MidAmerican Energy Holdings have lined up a 24-year power purchase agreement with the City of Riverside, Calif., for their geothermal joint venture CalEnergy
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The recent Idaho Public Utilities Commission ruling that limits small wind and solar projects to 100 kW could pave the way for a surge in hydro activity because the ruling allows projects up to 10 MW.
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AES is planning a 40 MW battery project in Ohio at Dayton Power & Light’s Tait plant near Dayton.
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Excelsior Energy has agreed to a compromise with the Iron Range Resources and Rehabilitation Board on its shelved Mesaba coal-gasification power project in Taconite, including renegotiated debt terms and an extension until 2019 to develop the project.
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Corona Power is holdings talks with prospective investors in and lenders to a 900 MW combined cycle repowering of the coal-fired Sunbury Generation plant in Shamokin Dam, Pa.
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Mexico Power Group, the development shop headed by Gerald Monkhouse, formerly of Cannon Power Group, is beginning to scout for investors in two late-stage wind projects in Mexico.
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Freeport LNG Development is trying to bring in an equity investor into the second 1.4 billion cubic feet train of its proposed natural gas liquefaction and loading facility on Quintana Island in Texas.
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In this week's round-up: Refinancings mute M&A activity, Natixis makes a project finance push while MidAmerican Energy Holdings issues solar construction bonds.
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Longview Power has received the green light from lenders on an amendment that releases financial covenants for its 695 MW supercritical pulverized coal-fired facility in Maidsville, W. Va., for two quarters.
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ArcLight Capital Partners’ sale of the gas-fired plants under portfolio company Juniper Generation also includes its stakes in two solar thermal assets in Southern California.
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Energy Capital Partners is in the market to sell its 635 MW combined cycle plant in Rensselaer, N.Y.
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First round bids have come in for Capital Power’s trio of gas-fired plants in New England.
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Needham, Mass.-based Energy Investors Funds is looking to do a private placement backing its 300 MW Pio Pico gas-fired plant in San Diego County, Calif., via Société Générale before year-end.
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Riverstone Holdings is readying a $350 million refinancing for its Sapphire Power Holdings subsidiary.
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NaturEner Energy Canada is preparing to start construction on its 210 MW Wild Rose 1 wind project in Alberta.
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First Wind is proposing the $400 million, 186 MW Bingham wind project near Skowhegan, Maine.
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GE Energy Financial Services is exploring a sale of its stake in the 800 MW CPV Sentinel simple cycle plant in Riverside County, Calif.
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ArcLight Capital Partners and Toyota Tsusho Corp. are buying a majority stake in Competitive Power Ventures’ 725 MW combined cycle project near Woodbridge, N.J.
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Financing the massive transition of the U.S. military to renewable energy resources presents a tremendous opportunity, coupled with significant challenges, to developers, lenders, and investors in renewable energy power projects serving the military.
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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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Cheniere Energy has increased the senior secured loan backing its Sabine Pass liquefied natural-gas export facility to $4.4 billion from $2.3 billion and netted $1.5 billion of additional debt from the Export-Import Bank of Korea and the Korea Trade Insurance Corp.
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LS Power is preparing to launch a refinancing of its $750 million LSP Madison term loan B tomorrow.
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Liberty Mutual Insurance is converting a debt investment in Invenergy’s wind unit to equity.
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Pattern Energy and backer Riverstone Holdings are still on track to take the wind developer public on the Toronto Stock Exchange despite the cancellation of Silver Ridge Power, deal watchers say.
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Sempra LNG has sold three 16.6% equity stakes in its Cameron liquefied natural-gas export facility to GDF SUEZ, Mitsui and a joint-venture between Mitsubishi and Nippon Yusen.
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Financiers and attorneys are weighing real estate investment trust structures that would open up the asset class, and its large pool of investors, to renewable generation without tripping up the U.S. Internal Revenue Service’s definitions of what types of property qualify for REIT investment.
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Canadian banks are targeting renewable energy projects for bond financings in the country.
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ArcLight Capital Partners has launched the sale of its Juniper co-generation fleet in California.
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AES and Riverstone Holdings pulled the C$150 million ($148 million) initial public offering of Silver Ridge Power, née AES Solar, on the Toronto Stock Exchange over investor disquiet about the geographic makeup of the portfolio.
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Loans to power projects in the U.S. are becoming increasingly “covenant-lite” as investors and lenders emphasize yield over risk, according to a report released by Moody’s Investors Service last week.
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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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FirstEnergy Corp. launched the sale of 1,240 MW of merchant hydro assets in PJM.
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Energy Capital Partners has launched its $610 million term loan financing the acquisition of 3.4 GW of coal-, oil- and gas-fired portfolio from Dominion at LIBOR plus 350 basis points.
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Global Infrastructure Partners tightened pricing on its $375 million Channelview term loan to LIBOR plus 325 basis points.
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GSR Energy is looking for $205 million in debt and equity backing a 36 MW biomass project on the New River in Orange Walk District, Belize.
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Starwood Energy is looking to sell or bring a co-investor in to Nautilus Solar Energy, its distributed generation portfolio company.
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Financiers and sponsors are trying to figure out how to develop a solar securitization structure that appeases tax equity investors concerns’ regarding subordination.
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Government of Singapore Investment Corp. has purchased a roughly 25% direct co-investment stake in GWF Energy from Highstar Capital.
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The smaller size and relative inexperience of development companies in Latin America will pave the way for larger more experienced multinationals to buy up local companies, said panelists at Euromoney Seminars’ Renewable Energy Finance Forum Latin America and Caribbean in Miami on May 1.
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French and Japanese banks are increasing their activity in Latin America, as the renewable energy sector in the region becomes a more stable and attractive proposition, said panelists at Euromoney Seminars’ Renewable Energy Finance Forum Latin America and Caribbean in Miami.
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French and Japanese banks are increasing their activity in Latin America, as the renewable energy sector in the region becomes a more stable and attractive proposition, said panelists at Euromoney Seminars’ Renewable Energy Finance Forum Latin America and Caribbean in Miami.
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Hybrid bank/bond structures are being floated for renewable energy projects in Latin America, said panelists at Euromoney Seminars’ Renewable Energy Finance Forum Latin America and Caribbean in Miami.
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José María Figueres, former President of Costa Rica and ceo of sustainable development consultant Carbon War Room, told PI in an interview that he is “very bullish” on renewable energy in Latin America.
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Energy Capital Partners is preparing to float a $610 million term loan B to finance its acquisition of 3.4 GW of coal-, oil- and gas-fired portfolio from Dominion and repay existing debt.
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Starwood Energy and Fiera Axium Infrastructure are rounding up roughly $140 million in debt on a 35 MW solar project that they are developing in Ontario.
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ArcLight Capital Partners’ auction of Southeast PowerGen has moved into the second round.
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BrightSource Energy is looking for equity investment at the corporate level.
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Global Infrastructure Partner’s term loan B for its Channelview cogeneration plant in Texas has been floated at a range of LIBOR plus 375-400 basis points.
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Tenaska Power Fund’s $395 million term loan B refinancing is being floated at LIBOR plus 450 basis points.
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A thirst for yield is pushing more institutional investors into private equity funds backing power and energy projects in the U.S.
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Greenbriar Capital Corp., a shop headed by Jeff Ciachurski, formerly of Western Wind Energy Corp., has agreed to buy an 80 MW wind project in Utah.
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U.S. Power Generating Co. is putting Astoria Generating Co. on the market again.
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European lenders took the bulk of top mandated lead arranger slots in power and energy project finance deals in North America, netting $1.3 billion, or roughly 40%, of the $3.21 billion in deals done in the first quarter of this year.
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NRG Energy will finance its $244 million acquisition of Gregory Power Partners from Rockland Capital with cash on hand.
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Renewable energy projects traditionally attract financing only after securing a long-term contract to sell the electricity to a creditworthy offtaker at a relatively fixed price. The project development is hard enough, but in today’s market, finding a power contract is becoming exceedingly difficult.
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Global Infrastructure Partners and Fortistar launched a $420 million refinancing package this morning for their 856 MW Channelview cogeneration facility near Houston.
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Tenaska Power Fund is queuing up a $425 million package to refinance debt on what remains of its TPF Generation Holdings portfolio.
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The geothermal energy players are aiming to get more private equity funding and bank lending to back early stage development, according to panelists at the Geothermal Energy Association’s International Geothermal Energy Finance Forum at the Marriot Marquis in New Marquis in New York last week.
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Energy Future Holdings and its private equity sponsors have failed to reach an agreement with first lien creditors for a prepackaged bankruptcy filing.
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Cheniere Energy has issued $1.5 billion in bonds to fund construction and lower bank commitments associated with the $3.6 billion term loan backing the first two trains at the Sabine Pass LNG export facility in Cameron Parish, La.
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Federal subsidies are reshaping deals this year, as the power industry copes with the expiration of the U.S. Department of Treasury’s cash grant program and a decreasing confidence in the long-term viability of the production tax credit, Mike Lorusso, managing director and group head of CIT Energy in New York, told PI in an exclusive interview.
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The annual bacchanal in Las Vegas holds center stage for many in the industry as a place to pick up on trends, do business and relax. Last week’s event was no exception. But there was also a real sense of the industry being at something of a watershed as how to deal with the unprecedented flood of cheap natural gas in the U.S.
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The arrival of plentiful and cheap natural gas in the U.S. has changed the game in the power sector and the ramifications were a constant topic throughout Platts Global Power Markets Conference in Las Vegas last week.
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The unseasonably chilly Las Vegas weather put a dampener on golf rounds ahead of the formal start of the conference.
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Marathon Capital has tapped Bryan Fennell, former v.p. of NextEra Energy Resources, and David Kirkpatrick, former v.p. of new business development at NRG Energy, as directors.
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Panda Power Funds is looking to raise a new investment fund with a target of $800 million and a hard cap of $1 billion.
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Longview Power, the owner of a merchant 695 MW supercritical pulverized coal-fired facility in Maidsville, W. Va., is reportedly facing a potential debt covenant breach.
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Opportunities abound in the Mexican energy market as investors rediscover one of Latin America’s breakout markets.
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AES Gener has closed the financing of its 532 MW Cochrane coal-fired facility in Mejillones, Chile.
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ArcLight Capital Partners is looking to sell its portfolio of nine cogeneration facilities in California.
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Private equity shop Lindsay Goldberg is in the market to sell its gas distribution utility New Mexico Gas Co.
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Alinda Investments and GE Energy Financial Services are looking to sell SourceGas, a gas distribution utility.
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The Washington State Utilities and Transportation Commission has postponed a hearing and moratorium on utilities’ natural gas hedging practices saying that they plan to work with utilities to look at hedging and whether it’s beneficial for customers.
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AltaGas has agreed to buy the 507 MW Blythe combined cycle facility from LS Power for $515 million.
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American Electric Power has received approval for its Ohio subsidiary Ohio Power Co. to issue a rate reduction securitization while two other subsidiaries await regulatory approval, according to PI’s sister publication Securitization Intelligence.
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Xcel Energy subsidiary Southwestern Public Service Co. has issued a request for proposals for an undisclosed amount of wind generation.
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The rate of generation assets finding new owners in the final quarter of 2012 was up versus activity in both the third quarter and the same period in 2011.
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ArcLight Capital Partners is expecting initial bids for its Georgia-based Southeast PowerGen portfolio company to come in the first week of April.
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In this week's round-up: The B loan market is prepping for Texas gas-fired development deals and coal-fired trades surge.
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FGE Power, a Houston-based independent power producer, is looking for debt financing and equity partners for a 726 MW, approximately $500 million combined cycle project near Westbrook, Texas.
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Wayzata Investment Partner’s purchase of the Harquahala combined cycle facility in Arizona from Rockland Capital has been nixed by the U.S. Federal Energy Regulatory Commission.
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Credit Suisse will be launching a financing package next month for Energy Capital Partner’s $650 million purchase of Dominion’s 3.4 GW of coal-, oil- and gas-fired portfolio.
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Highstar Capital has wrapped a term loan B at the low end of its price guidance.
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Commitments are coming in for Highstar Capital’s $725 million B loan refinancing a pair of acquisitions ahead of the 5pm deadline today.
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Riverstone Holdings’ refinancing of its merchant Topaz Power Holdings subsidiary in Texas came in with an upsized B loan and pricing tighter than initial guidance.
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Tyr Energy, John Hancock Financial Services and Prudential Capital Group are set to buy majority interests in a portfolio of gas-fired plants totaling 997 MW from Energy Investors Funds.
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In this week's round-up: Goldman Sachs taps a Chicago partner for global power co-head slot while bond issuances take off in Canada and FirstEnergy looks to sell hydro assets.
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ArcLight Capital Partners is gearing up to sell its stake in Southeast PowerGen, a portfolio company that owns 2.8 GW of gas-fired generation in Georgia.
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Tucson Electric Power is trying to buy out the lessors of the Springerville 1 coal-fired plant in Arizona.
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Boralex, the Montreal-based renewable company, is looking to expand outside its primary markets Canada and France.
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Progress Energy is buying power from a 6.3 MW solar project planned for Montgomery County, N.C.
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GreenWhey Energy is developing a $28 million, 3.2 MW food waste-to-energy project in Turtle Lake, Wis., that will use the byproducts of cheese production for fuel.
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Energy Future Holdings posted its fourth annual loss in five years, recording a $3.36 billion loss last year.
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Two Minnesota lawmakers are planning to propose a bill requiring utilities to get 10% of generation from solar by 2030.
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Riverstone Holdings’ loan refinancing at its merchant Topaz Power Holdings subsidiary was oversubscribed Wednesday.
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Highstar Capital is in the market to refinance two term loan B’s it used to finance acquisitions of five gas-fired plants in Arizona and California.
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Morgan Stanley is leading an unsecured bond issuance for an affiliate of Energy Investors Funds that will pay down debt at a cogeneration facility in Florida, says an observer.
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KKR has purchased three solar assets in Sault Ste. Marie, Ontario, from SSM Solar, an affiliate of Starwood Energy.
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Officials from Panda Power Funds are talking to banks in New York tomorrow to push ahead with financing efforts in earnest for the second phase of its approximately 750 MW natural gas-fired facility in Temple, Texas.
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Clean energy owner Threshold Power and JPMorgan Capital Corp. are buying KeyCorp’s tax equity stakes in a pair of Infigen Energy wind farms.
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Riverstone Holdings is in the market to line up a $590 million refinancing package for its merchant Topaz Power Holdings subsidiary in Texas.
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The solar industry needs to address standardization of performance evaluation, analytics of panel equipment and output before solar securitizations roll out, industry officials said at American Securitization Forum 2013 in Las Vegas according to PI sister publication Securitization Intelligence.
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Quantum Utility Generation has agreed to buy three gas-and oil-fired cogeneration facilities in Florida from Atlantic Power Corp. for $136 million.
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CIT Energy has financed a rooftop solar project at a private housing complex planned for Joint Military Base McGuire-Dix-Lakehurst in New Jersey.
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Pattern Energy is talking with lenders about arranging a bridge loan for a wind project in Texas.
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Latin America is bustling with opportunities for project development and M&A, according to Pedro Barriuso, ceo of Blackstone’s new power and energy development company Fisterra Energy.
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Liberty Clean Power, a boutique power and energy investment shop founded by former American Wind Capital staffers, has teamed up with the investment arm of the Secaucus, N.J.-based privately-held Hartz Capital, to begin investing in renewable generation projects.
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Atlantic Wind & Solar is moving ahead with developing two solar projects totaling 58 MW in Ecuador.
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Ram Power Corp. is cutting 12 of 19 jobs at its Reno, Nev., headquarters as part of a reorganization shifting its focus on geothermal development in Nicaragua.
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Brookfield Renewable Energy Partners has raised it offer to buy Western Wind Energy Corp. to CAD$2.60 ($2.59) per share from CAD$2.50 ($2.49) a week after saying it was walking away from its offer to buy the renewables developer.
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Tenaska has brought in the Brownsville Public Utilities Board of Brownsville, Texas, as a partner on an 800 MW gas-fired combined cycle project in the city.
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The California Public Utilities Commission has approved a Pacific Gas & Electric 25-year power purchase agreement for SolarReserve’s 150 MW Rice solar thermal project, which will include an eight-hour energy storage element.
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There is an effort to ramp up a coal to gas-fired conversion project at the Thunder Bay plant in Ontario.
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Private equity funds and pension trusts that are unable to use the large tax subsidies on U.S. wind farms may have an opportu¬nity shortly to acquire operating projects.
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NRG Energy has been trying to sell a gas-fired cogeneration plant in Henderson, Nev., that it co-owns with asset manager Paragon Energy Holdings.
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LS Power is nearing the close of individual club deals on its Doswell and Riverside gas-fired plants that are aimed to make the plants more attractive in a sale.
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Power and commodity marketer Castleton Commodities International is buying the Roseton oil- and gas-fired plant in Newburgh, N.Y., from Dynegy.
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First round bids for LS Power’s Blythe combined cycle plant in California floated in last week.
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U.S. Renewables Group, a Los Angeles-based power and energy focused private equity fund, is looking to invest in Latin America given the lack of deal flow in the U.S.
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The cost of financing merchant generation could be set for a fall.
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Diamond Generating has sold its stake in the Kiowa combined cycle facility in Oklahoma to co-owner Tenaska.
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First Columbia Energy Holdings, a new development shop founded by Richard Ashby, formerly of RES Americas and based in Toronto, is near an agreement to buy a 1 GW wind project in British Columbia from Deutsche Bank and Katabatic Power Corp.
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More natural gas-fired, nuclear and biomass generation opportunities could result from increased coal-fired retirements in the U.S., according to panelists at Infocast’s 5th Annual Projects & Money conference executive briefing in New Orleans.
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Portland General Electric is cutting 101 miles off of the $800 million to $1 billion, 215-mile Cascade Crossing transmission project that would have transported power west to Salem.
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BrightSource Energy is putting its 500 MW Rio Mesa concentrating solar project near Blythe, Calif., on hold to focus on the Palen project it acquired from Solar Trust of America in bankruptcy proceedings.
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Private equity and venture capital shops such as Draper Fisher Jurveston and Braemar Energy Ventures invested $5.8 billion in renewables companies in 2012, down 34% from 2011.
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Generation asset merger and acquisition activity this year is expected to be driven by companies looking to exit non-core business areas and private equity funds nearing the end of various funds’ life cycle, says Todd Guenther, managing director at Citigroup.
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PurEnergy has agreed to buy out GDF Suez Energy North America’s position as lessee of a 440 MW lignite-fired plant in Ackerman, Miss.
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The Public Utilities Commission of Ohio did not approve American Electric Power’s power purchase agreement with the $250 million, 49.9 MW solar project near Zanesville, Ohio, saying the company did not justify why the project was needed.
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Ontario Power Generation will shut down Ontario’s last operational coal-fired plants, Nanticoke and Lambton, by year-end under a plan that moves the retirement date up by 12 months.
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First round bids have come in for Sempra U.S. Gas & Power’s operational and under construction solar assets.
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PI had a busy run up to the end of 2012. Mezzanine fundraising and deployment, solar project financing and volatility in North American M&A marked the highlights of our coverage in December.
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Caisse de dépôt et placement du Québec has agreed to make a $500 million equity investment in a baker’s dozen of Invenergy wind farms totaling 1.5 GW in the U.S. and Canada.
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