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Renewable energy retailers have traditionally found ways to sway Texan customers to choose them, typically through competitive rates, but Octopus Energy has devised a new offering – Amazon Prime memberships.
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El Salvador's president has revealed plans to power Bitcoin mining operations in the country using geothermal energy produced by volcanoes, shortly after El Salvador became the first country in the world to adopt Bitcoin as legal tender.
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A bladeless wind generator designed by a Madrid-based start-up has been dubbed the "Skybrator" due to its suggestive shape and the way it oscillates back-and-forth in a stiff breeze.
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Several renowned Scotch whisky makers, including Glenmorangie, are working out a spirited plan to power their Highland distilleries with green hydrogen produced using generation from nearby offshore and onshore wind farms.
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Securitization exists in the public consciousness primarily as a shadowy corner of the capital markets in which out-of-control financial engineering causes global economic meltdowns. Could it be due a reappraisal?
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Recently, it seems that every day brings blank check company news, whether it’s an initial public offering or a merger. But could a privately held renewable energy project developer go public this way by the end of the year?
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The years-long stampede of international capital into the US renewable energy sector has continued unabated in the first few weeks of 2021, as latecomers from around the world have finally got in on the action.
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As we heave a collective sigh of relief at finally putting 2020 behind us, let’s take a moment to reflect on the past 12 months through the lens of Power Finance & Risk’s most read stories of the year.
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Safety this holiday season is a top priority for IntelStor, which says it is providing Santa Claus with wind turbine geo-location mapping, to make sure that his sleigh ride round the globe goes off without a hitch.
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#PowerTweets is an occasional feature tracking trends in power finance and investment in the Americas on Twitter.
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Recent announcements show that major institutions are taking more of an interest in the world of community solar.
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NRG Energy has brought the US capital markets a step forward with its inaugural sustainability-linked bond, introducing a new flavor of greens for its debt investors to chew on. But as usual, European corporations led the way.
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The apparently unstoppable trend of ever-tightening project finance margins finally hit the buffers in March 2020. But now, even as the pandemic continues to rage, the race to the bottom is back with a vengeance.
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When Engie and EDP Renováveis christened their offshore wind joint venture Ocean Winds, you could be forgiven for assuming that it had taken about 10 seconds to come up with the name. But in the branding world, nothing is that simple.
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Enterprising energy innovators never tire of coming up with unlikely new locations for power generation – on highways, in roof tiles, at the end of a kite string – with mixed results. Now there’s a start-up producing electrons from municipal water pipes.
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In the world of project finance, power purchase agreements are usually considered from the point of view of the project owner or lender. But in the last few years, more attention has started to be paid to the other end of the contract.
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Take-or-pay busbar power purchase agreements with electric utilities are all well and good, but they’re starting to look a bit old-fashioned. Bitcoin batteries and green hydrogen are where it’s at these days.
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As power market and policy experts quarrel over the reasons for California's first rolling blackouts in 19 years, renewable energy project developers and financiers spy opportunities.
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Whenever a Department of Energy loan goes bad – as it did in the case of the Crescent Dunes concentrated solar project in Nevada – questions are raised about the program. But how bad is the US government at picking winners, really?
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A recent development testifies to solar's lasting appeal, albeit with a controversial twist. Afghan opium poppy growers are among those that have caught on to the increasingly affordable technology, though presumably not with ESG criteria in mind.
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Developers of gas-fired and wind projects were united in their fury and dismay last year when Ohio’s House of Representatives passed House Bill 6 – the state’s nuclear and coal bail-out bill. The recent bribery allegations only add fuel to the sense of righteous indignation.
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Several renewable energy and thermal power project developers made use of federal Paycheck Protection Program funding earlier this year, according to data released by the US Department of the Treasury on July 6.
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After sifting through more than 100 nominations, Power Finance & Risk is pleased to announce the short lists for its 17th Annual Deal of the Year Awards.
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Since the novel coronavirus crashed into the US economy in March, the project finance market seems, for now at least, to have settled into a new groove. But while loan margins have widened versus the exuberant pre-pandemic days, some officials still suspect that the market—especially for renewable energy—may be overheated.
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Last week, we published a case study on the uncertain fate of Engie and Tokyo Gas’s Golden Eagle renewable energy portfolio in Mexico in the context of President Andrés Manuel López Obrador’s controversial energy policy (PFR, 6/25). But political risk is not confined to Latin America, and project finance bankers may do well to consider the risks in the US, too.
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As Pacific Gas & Electric’s bankruptcy proceedings appear to roll inexorably toward resolution, owners of power and renewable energy projects tied to the utility through power purchase agreements are beginning to indulge in pleasant thoughts of a return to normal for their project finance arrangements.
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The anti-racism protests sparked by the death of George Floyd in Minneapolis have led, among other things, to increased recognition of Juneteenth, the anniversary of the emancipation of the last enslaved African Americans in the US.
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One of the first pieces of advice a retail stock investor receives after opening their first brokerage account or downloading the Robinhood app is not to try to “time the market.” But in corporate finance – especially during weak markets – timing is everything. If a window of opportunity opens after a period of volatility, you go for it.
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Eleven weeks after bankers and fund managers left Midtown Manhattan for coronavirus lockdown at home, the pace of activity in power and renewable energy finance in the US seems as hectic as ever. Indeed, disruption to the capital markets has created more work for some borrowers and unique opportunities for lenders.
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It has been credited with producing Western Europe's mild climate, blamed for intensifying Atlantic cyclones, and used for centuries by sailors to speed their passage across the ocean, but could the Gulf Stream soon become a source of plentiful renewable energy? A recent demonstration project has brought the idea a step closer.
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The Covid-19 panic that has sent markets spiraling has also upended the working conditions and lifestyles of project finance officials, with cancelled conferences, enforced remote working, handshake bans and even the prospect of "virtual closing dinners," however that is supposed to work.
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The annual Siemens Energy Financial Services Oktoberfest bash in New York settled into a new venue this year at the Ziegfeld Ballroom, a recently repurposed former movie theater in Midtown Manhattan.
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The #PowerTweets feature tracks trends and news in power and energy on Twitter. For more news and coverage, follow @PowerFinRisk on Twitter, as well as editor @richmetcalf and reporters @Shravanbhat, @Taryana_Odayar and @ArroyoNieto.
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China has set a Guinness World Record for the largest solar panel image, which takes the pattern of a galloping horse and is equivalent in size to 195 football pitches.
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With single-digit reserve margin forecasts drawing solar, battery and peaker developers to Texas in droves, PFR reporter Shravan Bhat visited Houston last week to catch up with the Ercot community and assess the market for power price hedges.
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Early-stage renewable energy projects exceeding 1 GW were auctioned off at a novel event on the trading floor of the New York Stock Exchange last Monday, hosted by Akin Gump, Novogradac, DNV GL and FTI Capital Advisors.
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With graduation festivities in full swing across the Golden State, PG&E has begun warning customers about the dangers of helium-filled metallic balloons, using the slogan, ‘Look Up and Live!’
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Gusts of up to 46 mph in Las Vegas this week did not dampen the spirits of attendees of the S&P Global Platts 34th Annual Global Power Conference, but did put paid to plans for open air cigar parties. PFR editor Richard Metcalf and reporter Taryana Odayar were on hand to chronicle the action, inside and outside the conference hall.
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As representatives of developers, banks, investment firms and service providers descend on Las Vegas for S&P Global Platts’ 34th Annual Global Power Markets Conference, PFR takes a look at what to expect.
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Known for undertaking ambitious infrastructure projects such as the world’s largest hydro project, the Three Gorges Dam, China has now embarked on a mission to develop the first utility-scale solar project in space by 2040.
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An internal memo at Goldman Sachs regarding a new “firm wide flexible dress code” was widely reported this week, but don’t expect the firm’s investment bankers to turn up in sneakers and sweatpants any time soon.
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So you've left your job at an established financial institution, project developer or energy retailer and decided to set up your own energy investment firm. There are a lot of decisions to make, but first of all, you need a logo. Where do you go?
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On the morning of Feb. 2, sleeping residents of the Rhode Island towns of Cranston and Johnston were rudely awakened by a booming roar.
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Budweiser’s 2019 Super Bowl ad features all of its classic motifs: Its beloved Clydesdales, a Dalmation mascot, fields of wheat, and—in an unusual twist—wind turbines spinning to the sultry sounds of Bob Dylan.
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A transformer explosion at a ConEdison facility in Astoria, Queens, which took place two days after Christmas, set the New York city skyline ablaze with a dazzling blue glow. The blast caused power outages across the borough, including at LaGuardia airport, and sent social media users into a frenzy about the possibility of an alien invasion.
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Paraguay, home to Jesuit ruins, rainforests and the world’s largest dam, will also soon be home to what is being touted as the world’s largest cryptocurrency mining center and exchange, which will be powered by the massive, state-owned Itaipú hydroelectric project under a 15-year contract.
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Con Edison Solutions has installed solar arrays at five Catholic parishes on Staten Island and in Yonkers, N.Y., after signing 20-year power purchase agreements.
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The #PowerTweets feature tracks trends and news in power and energy on Twitter.
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A Oregon solar project operated by Pine Gate Renewables is abuzz with a sweet collaboration involving bees and brews.
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Just as one robin (or, depending on your geographic location, swallow) doesn’t make a spring, two project finance CLOs (PF CLOs)—Bayfront Infrastructure and RIN—may not confidently mark the re-emergence of PF CLOs. They are, nevertheless, a positive and potentially significant development, writes Paul Forrester, Chicago-based partner at Mayer Brown.
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As President Donald Trump's grand infrastructure plan hit the buffers earlier this year, his former attorney, Michael Cohen, was allegedly doing his own bit for the cause by seeking government funds for a mothballed nuclear project in Alabama, according to an Aug. 2 report in the Wall Street Journal.
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The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter. For more news and coverage.
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British bureaucrats have drawn up radical contingency plans to keep the lights on in Northern Ireland—which relies on a shared energy market with the Irish republic—in the case of a “no-deal Brexit”, the Financial Times reported last week.
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Is it a bird? Is it a plane? No, it's the superman-shaped drone that environmental group Greenpeace flew into a wall of EDF's 3,580 MW Bugey nuclear facility on July 3.
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The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter. For more news and coverage, follow @PowerFinRisk on Twitter, as well as editor @richmetcalf and reporters @FotiosEuromoney and @Shravanbhat.
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A 2.6 GW hydro project built in the Soviet Union in the 1950s is partly to blame for the decline of sturgeon that has devastated the Russian caviar industry, according to a British wildlife conservation researcher.
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In this week’s Industry Current, John J. Marciano III, partner, and Ramin Mohammad, associate, at Akin Gump in Washington, D.C., outline the implications of the Internal Revenue Service’s latest guidance in relation to the solar investment tax credit.
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Celebrity spotting, a Danish debut and the usual high quality food and drink marked REFF Wall Street this year, which was attended by PFR editor Richard Metcalf and reporters Fotios Tsarouhis and Shravan Bhat
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Using renewable energy to mine cryptocurrency is not a new idea—PFR first reported on it in December, at which point miners in Europe and Iceland were already using hydro and geothermal—but a recent intervention by Star Trek legend William Shatner has thrust the concept squarely into the limelight.
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The results of the recent PJM Interconnection capacity auction have excited many in the industry but should prompt a thoughtful pause, writes Louise Pesce, managing director at MUFG in Los Angeles, in this week’s Industry Current.
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PFR has pored over the results of this year’s JP Morgan Corporate Challenge race in New York’s Central Park to find out which power sector financiers crossed the finish line first.
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The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter.
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The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter.
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The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter.
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As the GenOn Energy asset sale spawns several power holding companies with “Kestrel” in the name, an electric utility in California has been busy finding names for a trio of peregrine falcons.
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Kirk Edelman, global head of energy finance at Siemens Financial Services, makes the case for gas-fired generation to complement renewables and for investment from technology and equipment suppliers as a key step in attracting capital from banks and institutional investors, in this week’s Industry Current.
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Calendar clashes, avocado implements and steak—a few notes and observations from the sidelines of the Platts Global Power Markets conference in Las Vegas.
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The recent reform of the U.S. tax regime has ushered in several provisions that, taken together, could make sale-leaseback financing transactions attractive, whether to refinance solar projects or fund the acquisitions of gas-fired facilities. John Eliason and David Weisblat attorneys at Foley & Lardner, address the possibilities in this week’s Industry Current.
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The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter.
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As capital floods into renewable energy, investors must think strategically about merchant tails and asset performance management, which means digging into power market and operational data analysis, write Ryan Hardy, Ethan Paterno and Barbara Sands, energy and utilities experts at PA Consulting Group, in this week’s Industry Current.
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PFR caught up with the great and the good of power project finance as they milled around with wine, cocktails and hors d’oeuvres laid on by Latham & Watkins at New York’s American Museum of Natural History on March 1.
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The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter. For more news and coverage, follow @@PowerFinRisk on Twitter, as well as editor @richmetcalf and reporters @FotiosEuromoney and @Shravanbhat.
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Tesla’s rooftop solar panels and its rechargeable Powerwall battery will soon be available at The Home Depot.
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The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter.
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Participants in solar project finance are beginning to digest the long-awaited announcement that the U.S. will impose a tariff, initially of 30%, on imported solar cells and modules.
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Delegates traveling to Louisiana from frigid northern cities had their hopes of a respite from the cold dashed as temperatures in New Orleans hovered around freezing point for the duration of the conference this year.
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These were not the optics Germany wanted in 2018. The St. Lambertus Catholic church in Immerath, west of Cologne, has been bulldozed to make way for an open-pit lignite mine.
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The final version of the Republicans’ signature tax reform bill puts to rest many of the fears expressed by the renewable industry, but leaves unclear how the broader tax equity market will adapt to the new rules, writes Eli Katz, partner at Latham & Watkins in New York.
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The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter.
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The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter.
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Whether or not one believes bitcoin is the decentralized future of money or a pyramid scheme masquerading as currency, the reality is that mining bitcoins consumes enormous amounts of energy.
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House Republicans took aim at some of the key tax subsidies used by the wind industry in a sweeping tax reform bill unveiled on Nov. 2, writes Eli Katz, partner at Latham & Watkins in New York, in this week's Industry Current.
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The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter.
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Abandoned coal-fired plants may not seem glamorous, but one such structure in New Orleans has developed a secondary career in recent years as a setting on the silver screen and TV.
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M&Ms, Harvey Weinstein and millennials all somehow made it into the reporter’s notebook at this year’s Platts Financing U.S. Power Conference in New York.
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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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The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter.
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The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter.
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As the generation industry eyes developing pockets of demand for the electrons it produces, a report from Barclays highlights a growing source of demand for millions of megawatts: Cannabis farming.
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As astronomy enthusiasts headed for the path of totality on Aug. 21 to witness the first coast-to-coast total eclipse in the U.S. for nearly a century, grid operators from California to the Carolinas braced for a dip in solar generation.
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The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter.
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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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Total solar eclipses occur as a result of a peculiar, cosmic coincidence—the sun and moon, because of their relative sizes and distances from our planet, appear the same size in the sky.
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Al Gore's sequel to his documentary An Inconvenient Truth, which opened in U.S. movie theaters on Friday, has so far garnered mixed reviews.
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Bankers have shot down plans reportedly floated by President Donald Trump to festoon his controversial Mexican border wall with solar panels, but not everyone is so skeptical.
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Of the many power sector financiers at commercial and investment banks that ran in this year’s JP Morgan Corporate Challenge race in Central Park, who was the fleetest?
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The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter.
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Continued low gas prices and depressed demand lower megawatt-per-day payments and change the game for all parties involved, writes Louise Pesce, m.d., project finance, at MUFG, in this week’s Industry Current.
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Renewable project sponsors and tax equity investors are beginning to come to terms despite uncertainty over tax reform, allowing financings to trickle through.
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France’s Akuo Energy has tapped a trendy source of capital, raising €200,000 for an operational 28 MW wind project through its own crowdfunding platform.
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The U.S. President has selected two prospective Republican commissioners to sit on the Federal Energy Regulatory Commission, the White House announced on Monday.
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EDF EN Canada’s investment in a 23 MW (DC) solar project in Ontario has begun to pay a tasty dividend, in the form of honey.
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The 32nd annual Platts Global Power Markets Conference from April 24 to April 26 at the Wynn Las Vegas. PFR managing editor Olivia Feld and reporter Fotios Tsarouhis were in attendance.
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When PFR asked financiers and sponsors backing gas-fired projects in PJM Interconnection how President Donald Trump’s executive order to dismantle his predecessor’s Clean Power Plan might affect development in the region, conversation quickly turned to other topics.
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A big winner in the first Mexican power auction is expected by some to eschew project finance in favor of balance sheet funding, but PFR readers know differently.
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Bankers are blaming a slow start to the year in U.S. renewables project finance on uncertainty around corporate tax reform, but activity could pick up once developers get their heads around the risks.
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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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It’s the “Land of 10,000 Lakes” or—as brewery historian Doug Hoverson has called it—the “Land of Amber Waters”. Now, over a century and a half after Anthony Yoerg, a Bavarian immigrant to the U.S., started Minnesota's first commercial brewery, the state is getting its first sunshine-fueled brew-house.
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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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The #PowerTweets feature tracks trends in power project finance and M&A in the Americas on Twitter.
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State renewable portfolio standards are a key driver of renewables development in the U.S., but now a group of lawmakers in Wyoming has introduced a bill that would have the opposite effect.
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A key fixture in the power finance calendar, Infocast's annual Projects & Money conference at Harrah's New Orleans drew the great and the good of the industry. Managing editor Olivia Feld attended.
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Developers and financiers are searching for solutions to problems caused by looming changes to the tax code. This week’s Industry Current, written by Eli Katz and Julie Marion, partners at Latham & Watkins, examines the impact of potential tax reforms under the new Trump administration.
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The recently completed 648 MW Kamuthi Solar project in Tamil Nadu, India, has set a new record as the largest solar project in the world.
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This week’s Industry Current, written by Jim Heidell, Ethan Paterno and Mark Repsher, consultants at PA Consulting Group, focuses on Mexico's emergent capacity markets, unraveling the complexities and the opportunities they represent.
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Power Finance & Risk is now accepting submissions for its Deal of the Year 2016 Awards, recognizing excellence in power asset M&A and project finance across the Americas.
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A show and tell story, a slip of the tongue and an odd metaphor for battery storage leaped out from the pages of the PFR reporter’s notebook following recent conferences in Mexico City and Los Angeles.
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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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The #PowerTweets feature tracks trends in power project finance and M&A in the Americas on Twitter.
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In this week’s Industry Current, Sutherland Asbill & Brennan’s Ram Sunkara and Joshua Belcher discuss the evolution of corporate renewable generation procurement in recent years, highlighting some of the risks that must be navigated by project owners and offtakers.
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A biomass project in Copenhagen that aims to entice tourists to stroll amid a forest of hanging tree trunks won an international architecture award this month.
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Scientists have accidentally discovered a chemical catalyst that could open the door to industrial-scale energy storage.
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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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As the leaves turn red, gold and brown this fall, many New Englanders will be sipping on seasonal, solar-powered cider.
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The wind industry is a close-knit group and the AWEA Wind Energy Finance & Investment Conference is generally a friendly affair, so there were plenty of lighter moments amid the serious discussions and dealmaking at the Westin New York at Times Square.
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Power purchase agreement prices for renewable projects are plummeting across the Americas, and it’s changing the way deals are done.
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Euromoney Seminars’ 11th Annual North American Energy and Infrastructure Finance Forum took place at the Westin New York at Times Square from Sept. 22 to 23. PFR managing editor Olivia Feld and reporter Fotios Tsarouhis attended the conference.
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Solar Power International kicked off on Monday at the Las Vegas Convention Center. Managing editor Olivia Feld attended the conference.
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The #PowerTweets feature tracks trends in power project finance and M&A in the Americas on Twitter. For more news and coverage, follow @PowerFinRisk on Twitter, as well as editor @MetcalfReports, managing editor @OliviaFeld and reporter @FotiosEuromoney.
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In this week’s Industry Current, Bernays ‘Buz’ Barclay, managing partner at Rimon P.C. and senior adviser to Marathon Capital, calls on the power industry to engage with blockchain technology.
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The Chicago Cubs have shaken up their power supply roster with a new signing at the end of summer.
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Hydro projects have long lifespans and a number of assets which are changing hands today were financed more than a century ago, when project finance transactions were a little different.
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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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In this week’s Industry Current, Salem Esber, a Denver-based energy markets expert at London-headquartered PA Consulting Group, considers whether the publicly-traded model is right for U.S. independent power producers.
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Solar powered mosquito traps can cut the mosquito population by as much as 70%, according to a new study.
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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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Apple has officially entered the power generation business. The technology company was granted market based authority to sell generation they own or control by U.S. Federal Energy Regulation Commission on Aug. 4.
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In this Industry Current Elias Hinckley, partner and leader of the energy group at Sullivan & Worcester in its Washington, D.C., office, argues that a swath of new investors in the tax equity market could herald a period of unprecedented growth in renewable project development.
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Improvements in wind turbine technology in recent years have made it possible to construct ever taller towers and wider blade diameters, but the future of power may be smaller—much smaller—according to recent research.
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SunEdison is continuing what many deal watchers are describing as a "fire sale" of its assets, in an auction run by adviser Rothschild.
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As global financial markets reeled in the wake of the U.K.’s historic vote to leave the European Union, it was business as usual for much of the American project finance community.
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Advances in technology and efficiency, intense competition for power purchase agreements and subsidization through tax credits in the U.S. have pushed the cost of renewable generation ever lower. That’s great news for offtakers, but it also makes financing more difficult.
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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 selection of snippets gleaned on the sidelines of the 13th annual REFF Wall Street conference in New York. A regional U.S. bank seeks to break into renewables financing, and a developer gives his frank take on the Mexico power auction results.
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In the second part of this Industry Current, three attorneys at Orrick discuss portfolio risk, state utilities laws, and other topics that must be considered in relation to renewables projects backed by U.S. Department of Defense power purchase agreements.
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In the first part of this Industry Current, Orrick attorneys discuss the evolution of the U.S. Department of Defense’s power procurement process and the implications for sponsors seeking DoD power purchase agreements.
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Commuters making their way from Santiago's outer barrios to the city center and tourists making their way around the Chilean capital will soon be travelling on a sun- and wind-powered metro system.
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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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In this week’s Industry Current, David Burton of Mayer Brown and Richard Page of Akin Gump Strauss Hauer & Feld discuss the latest tax incentives for solar generation in Idaho, which could encourage additional solar developments in the state.
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A solar powered airplane that could become the first aircraft to fly around the world without fuel has begun crossing the U.S.
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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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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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PFR’s Deals & Firms of the Year Awards poll is closing this week. Tell us who you think should win in our power finance and asset M&A categories.
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This week’s Industry Current is written by David Burton, partner, and Richard Page, associate, in Akin Gump Strauss Hauer & Feld’s New York office.
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In the third and final instalment, Chadbourne & Parke's Keith Martin talks with Jean-Pierre Boudrias, managing director and head of project finance at Goldman Sachs, about the term loan B market, and Jerry Hanrahan, m.d. and head of power and infrastructure at John Hancock, about the project bond market.
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This week’s Industry Current is a transcript of the second part of a conference call hosted by Keith Martin, partner at Chadbourne & Parke, in which he discusses the cost of capital in the bank market with Rabobank's Thomas Emmons.
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This week’s Industry Current is a transcript of the first part of a conference call hosted by Keith Martin, partner at Chadbourne & Parke, in which he discusses the cost of capital in the tax equity market with two industry veterans.
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Panda Power Funds' Hummel project could have had a much racier name, if Robert Simmons had got his way.
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What once could be thought of as mythological parable, a mighty sun god harnessing the energy of the sky and distributing it to humanity, could become a technological reality.
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Until now, Sweden’s ICEHOTEL has remained closed in the summer months. That was understandable, because it melts every spring. But the team behind the project now has plans for a solar powered wing to be open all year round.
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Non-utility corporate offtakers have continued to snap up power purchase agreements for the output of renewables projects in the last months, and it’s not all for data centers, although there were a couple of those.
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Bats are observed more frequently at wind turbines on moonlit nights, looping, diving, hovering and chasing each other. They also visit wind farms more often in low wind speed conditions, according to the latest scientific research.
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Trevor D’Ollier Lees, a director at Standard & Poor’s, began one of the first sessions of the day at Solar Capital Markets 2015 by introducing a new analogy to illustrate how the solar securitization market had developed since last year’s summit.
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SunRun has sealed a sponsorship deal with the Los Angeles Dodgers for the next two seasons, continuing the residential solar shop’s marketing push with baseball teams.
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After months of stock volatility, SunEdison has announced that it is putting asset drop-downs to TerraForm Power and TerraForm Global on hold, just as shares in the yield companies begin to recover some of the ground lost.
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As technology allows engineers to build wind turbines ever taller and with ever wider diameters, a team of inventors in Iceland is heading in the opposite direction.
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As the leaves begin to change color and chestnuts appear on the sidewalks here in New York, the project finance and generation asset markets are heating up, especially in PJM.
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The project finance market, which slowed down in August, has been hastily awoken after Labor Day.
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On Sept. 17 at the PJM Market Summit on the outskirts of Philadelphia, a diverse panel discussed the risks and opportunities presented by the latest market developments in terms of project finance and investment in new generation.
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On Sept. 16, PJM market participants and industry observers from further afield gathered for the PJM Market Summit to discuss the introduction of new capacity performance rules and the evolution of demand response products.
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As part of Emera’s acquisition of TECO Energy, the Halifax, Nova Scotia-based energy company will take ownership of some unusual, mammalian assets.
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The Netherlands’ rail system will run entirely on wind power by 2018.
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This Industry Comment is written by Paul Forrester, a partner in the Chicago office of Mayer Brown. Here, he examines the swap reporting requirements that result from the recent rise of non-utility renewables offtakers.
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In the second instalment of this feature, Benjamin Israel, a partner at Kaplan, Kirsch & Rockwell, explores the political and market implications of the U.S. Court of Appeals' decision in the case of the Energy & Environment Legal Institute v. Joshua Epel et al.
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Benjamin L. Israel, a Kaplan, Kirsch & Rockwell partner discusses renewable energy mandates in the context of the EELI v. Epel case--in his capacity as a representative of the Interwest Energy Alliance, an intervening party in the case.
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The LEGO Group has entered the renewables market by building a 310 MW wind farm off the northwest coast of Germany. Unfortunately, it is not made of the colorful plastic bricks.
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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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This Industry Current is written by John Thomas, executive vice president and cfo at Tennessee Valley Authority in Knoxville, Tenn. Thomas discusses the scope for distributed generation in the context of electric utilities.
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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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This Industry Current is written by Keith Martin, a Washington, D.C.-based partner at Chadbourne & Parke. Martin’s narrative analyzes the IRS’ guidelines for partnership flip transactions in the context of benefits to solar developers and tax equity players.
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San Diego Gas & Electric has become the first utility to receive the Federal Aviation Administration’s permission to use drones.
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Walt Disney World Resort is gearing up to unveil its own solar facility, which will assume the form of legendary mascot, Mickey Mouse and be built by Duke Energy Florida.
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This week's Industry Current is written by Benjamin L. Israel, a Washington, D.C.-based partner at Kaplan, Kirsch & Rockwell. This feature provides context for what the Tesla Powerwall means for retail consumers and wholesale generation, transmission and distribution.
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Two on-site wind turbines have been installed at the Eiffel Tower, as part of the first major renovations at the Parisian landmark in 30 years.
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David Burton, partner, and Richard Page, associate, at Akin Gump Strauss Hauer & Feld in New York, survey the renewables landscape in North Carolina, which has put a decrease in renewable energy tax credits on ice and could freeze the proportion of renewables that state-controlled utilities are required to buy.
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Keith Martin, partner at Chadbourne & Parke expounds the framework laid out by the IRS for companies aiming to operate as master limited partnerships.
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SolarCity is at the nucleus of asset class growth activity even as a trio of M&A deals have made their way into the market.
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This week’s Industry Current is written by Chadbourne & Parke attorneys David Jiménez Romaro and Javier Félix Muñoz from Mexico City, and Raquel Bierzwinsky from New York. The authors examine the evolving regulatory framework for geothermal exploration and production in Mexico.
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A peregrine falcon dubbed Houdini may be the answer to the perennial bird-versus-wind turbine controversy.
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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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This week’s Industry Current is written by Jake Seligman, associate at Chadbourne & Parke in Washington, D.C. Seligman evaluates the opportunities for municipalities to tap into tax-exempt lease purchases for financing the purchase of U.S. distributed solar projects.
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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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This week’s Industry Current is written by David Burton, partner, and Richard Page, associate at Akin Gump Strauss Hauer & Feld in New York. Burton and Page examine the effects of the New York State budget on solar tax incentives.
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This week’s Industry Current is written by Mona Dajani, partner, and Michael Reed, associate of the North America energy, banking & finance group at Baker & McKenzie. The feature provides insights into Mississippi's Court ruling mandating Mississippi Power Co. to refund $281 million to ratepayers.
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Renewable and thermal assets on both sides of the equator are making headlines this week. sPower is the latest player to join a steady stream of distributed generation transactions.
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Utilities and operators of U.S. coal-fired generation are planning to shutter hundreds of assets against the backdrop of stringent emissions regulations and heavy plant maintenance costs.
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Google is unveiling airborne wind turbines based on the designs of an avid kite-surfing engineer. The turbines will take flight next month.
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This week’s Industry Current is written by Randy Male, managing director at boutique investment banking firm Bostonia Partners in Boston. Male discusses the growing appetite for yield companies and evolving trends in renewables financing.
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Larry Kellerman, former ceo of Houston-based Quantum Utility Generation, has moved on to his next venture.
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This week’s Industry Current is written by Jake Seligman, associate at Chadbourne & Parke in Washington, D.C. Seligman evaluates investor attraction to community solar projects and offers insights into key opportunities, risks and challenges.
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This week’s Industry Current is written by David Burton, partner, and Richard Page, associate, at Akin Gump Strauss Hauer & Feld in New York.
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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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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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Project finance and M&A activities continue to swirl in and around PJM.
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Denver-based Southwest Generation recently wrapped a refinancing and an asset sale that ultimately put it on its current path to growth. “The new objective, as agreed with our shareholders, is to create a diversified, sustainable, self-funding power generation platform in North America,” John Foster, president and ceo, tells PFR in an exclusive interview.
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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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After a hectic, albeit happy, end to 2014, attendees at Infocast’s 7th Annual Projects & Money conference were optimistic for this year’s deal and development pipeline. Financiers are looking at backing more gas-fired projects as coal and nuclear retirements step-up.
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Cape Wind offtakers National Grid and NStar have cancelled their power purchase agreements with the 468 MW project this week, leaving bankers and industry officials more uncertain than ever of the project’s future.
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This Industry Current is written by Eli Katz and Michael Masri, partner and associate, respectively, at Chadbourne & Parke in New York.
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This week’s Industry Current is a summary of state tax developments in 2014 relating to energy tax credits. The piece is written by David Burton, partner, and Richard Page, associate, at Akin Gump Strauss Hauer & Feld in New York.
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The final installment of this 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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The second installment of this 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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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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In this week’s Industry Current David Burton, partner at Akin Gump Strauss Hauer & Feld, dispels misinformation about the investment tax credit step-down at the end of 2016 and explores how it impacts the solar industry by answering frequently asked questions.
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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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This week’s Industry Current is the second installment of a transcript of a discussion between developers on practical lessons learned in Latin America at Chadbourne & Parke’s 25 Annual Global Energy and Finance conference in Washington D.C.
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This week’s Industry Current is the transcript of a discussion between developer from AES Corp. and SunPower as well as geothermal and wind shops on practical lessons learned in Latin America at Chadbourne & Parke’s 25 Annual Global Energy and Finance conference in Washington D.C. The discussion is moderated by Todd Alexander, partner at Chadbourne.
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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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This Industry Current is written by David Burton, partner at Akin Gump Strauss Hauer & Feld in New York
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NASA is working on a solar array that will make connoisseurs of origami paper cranes swoon.
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The summer doldrums are winding down and the market is revving for the post-Labor Day comeback once decision makers return to their desks.
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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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Power Finance & Risk and Varagon Capital Partners Invite You To An Evening of Cocktails & Conversation
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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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Tenaska has retained Whitehall Capital Markets to advise on strategic evaluation of ways to raise capital to fund a 950 MW gas-fired project near Pittsburgh, Pa.
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SunShare, a community solar developer out of Denver, Colo., has moved into the second round of a process to find an equity partner in its portfolio of distributed solar projects around Denver.
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Competitive Power Ventures, Marubeni Corp. and Toyota Tsusho have sealed the financing for the $775 million, 725 MW St. Charles combined cycle project in Waldorf, Md.
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Northland Power is hunting for early stage development projects in Chile, Mexico and Europe.
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Pattern Development has acquired a 200 MW wind project in Texas from Pioneer Green Energy that is expected to qualify for the production tax credit.
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NextEra Energy Resources has bought a wind project in Garfield County, Okla., from TradeWind Energy.
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Macquarie Infrastructure Co. has bought an $11.5 million stake in a portfolio of 11 wind farms totaling 183 MW from Exergy Development Group.
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Duke Energy is on track to find a buyer for its 6.1 GW of unregulated coal- and gas-fired assets in PJM by the end of the year.
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GE Energy Financial Services has agreed to make a cash equity stake in the Osage wind project in Oklahoma from Enel Green Power North America.
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Entegra Power Group has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court of Delaware.
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SunEdison and Firelight Infrastructure Partners have closed a C$113.5 million ($104.03 million) financing package from NordLB to back an 18 MW solar project in Ontario.
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Energy Capital Partners has agreed to buy Wheelabrator, a landfill waste-to-energy company, from Waste Management for $1.94 billion. Barclays and Centerview Partners advised Waste Management.
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SunPower Corp. has a financing agreement with Hannon Armstrong Capital for up to $44.5 million to finance its growth in its residential solar lease program.
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Entegra Power Partners, Luminus Management and Wayzata Investment Partners are proposing a restructuring agreement that has Luminus and Wayzata leading a third lien creditor takeover of the power company.
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A private equity shop founded by Michael Richter, a former goalie for the New York Rangers who was thrice a National Hockey League All Star, has closed its first fund to invest in distributed solar and energy efficiency assets.
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Samsung Renewable Energy is in the market to arrange about $500 million to finance its 100 MW Sol-Luce Kingston solar project in Ontario.
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Denver-based solar company Conergy Americas has inked a $60 million financing agreement to fund development of up to 400 MW of solar projects.
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The City of Palo Alto Utilities in Palo Alto, Calif., has issued a request for proposals as it looks to establish a community solar program that allows utility customers to invest directly in solar generation.
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Boralex has closed C$206 million ($192.9 million) to finance the Témiscouata I and II wind projects totaling 75 MW in Témiscouata-sur-le-Lac, Quebec.
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There is no debating—you have got to be careful not to run out of battery.
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Jon Mostel, partner in Stroock’s energy and project finance practice in New York, talks about how regulation will impact growth of micro-grids, which is the modern name for the old idea of decentralized power.
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Dino Barajas, partner specializing in project finance and Latin America transactions at Akin Gump Strauss Hauer & Feld in Los Angeles, writes an overview of how recent reforms could shape the energy sector.
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John Marciano, partner at Chadbourne & Parke, examines how, and whether recent regulation proposals released from the U.S. Internal Revenue Service open the door for real estate investment trusts being able to invest in solar assets.
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This week’s Industry Current on pricing, environmental impacts and new opportunities for generation and storage development is written by Laura Norin, senior project manager, Julia Getchell, associate, and Heather Mehta, principal, with power and energy consultancy MRW & Associates in Oakland, Calif.
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This Industry Current looks at how near-term surpluses of renewable energy, a sharper focus on costs and heightened concerns over environmental impacts are the new realities in the California market for utility scale renewable power.
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A round-up of renewable tax law developments from David Burton, partner, and David Snyder, associate, at Akin Gump Strauss Hauer & Feld in New York.
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The PPA Pulse is a guide to which sponsors and projects have recently garnered power purchase agreements in the Americas.
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Someera Khokhar, the Americas regional section head for White & Case’s energy, infrastructure, project finance and asset finance group and José Ignacio Segura Alonso, White & Case local partner look at how a 2012 law will attract investors to the country.
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Acciona is in the market with a 2.5 GW global wind and solar portfolio –the bulk of which is spinning wind assets in the U.S.
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This week’s Industry Current is written by Kerin Cantwell, partner at Dechert in Los Angeles.
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This week’s Industry Current is written by Elias Hinckley, head of energy finance and David John Frenkil, an attorney in energy finance at Sullivan & Worcester in New York.
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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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Ten years ago this week, the eight states in the U.S. and parts of Ontario experienced the worst blackout in North American history.
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Calling all sun lovers in Seattle! The abundance of sunshine is not a draw to the Pacific Northwest—Seattle gets precipitation about 152 days a year, not including cloudy but dry days while San Diego gets wet on 43.
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While most bankers may be aware of Energy Investors Funds' Pio Pico plant because of the financing opportunity, they’re probably missing its significance, though indirect, in endocrinological history.
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The U.S. Department of Energy signaled that it would proceed cautiously before approving any more applications to export U.S.-produced liquefied natural gas after granting only the sec¬ond export license in May.
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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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This week’s Industry Current is written by Darin Lowder and Mary Grace Folwell, associates at Ballard Spahr in Washington, D.C.
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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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Opportunities abound in the Mexican energy market as investors rediscover one of Latin America’s breakout markets.
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The second installment of this week’s Industry Current is written by Kerin Cantwell and Miles Killingsworth, partner and associate, respectively, in Akin Gump Strauss Hauer & Feld’s global project finance practice in Los Angeles and George “Chip” Cannon, Jr., partner in the firm’s energy regulatory practice in Washington D.C. For the first installment, visit the features page at www.powerfinancerisk.com.
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This week’s Industry Current is written by Kerin Cantwell and Miles Killingsworth, partner and associate, respectively, at Akin Gump Strauss Hauer & Feld’s global project finance practice in Los Angeles and George “Chip” Cannon, Jr., partner at the firm’s energy regulatory practice in Washington D.C.
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This week’s Industry Current is the final installment of a transcript of a panel of industry officials focused on the U.S. Army’s solicitation for renewable projects.
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This week’s Industry Current is the transcript of a panel of industry officials focused on the U.S. Army’s solicitation for renewable projects.
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This week’s Industry Current is written by Paul Kaufman, partner in corporate and project finance at Chadbourne & Parke in Los Angeles.
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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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This week’s Industry Current is written by Steve Loeshelle and Mike Fitzpatrick, partners, and Adam O’Brian, an associate, at Hunton & Williams in New York.
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In this week’s Industry Current the authors take a look at President Barack Obama’s order requiring a Chinese company to sell its stakes in four wind projects in Oregon and its potential implications for other projects.
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In the second installment of this Industry Current, four veterans in the project finance market talked about private equity and merchant risk in regards to the cost of capital at an event hosted by Chadbourne & Parke.
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In this week’s Industry Current, four veterans in the project finance market talked about the cost of capital at an event hosted by Chadbourne & Parke. Eli Katz, partner in New York, moderated the panel.
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A slowing market in the U.S. has sent developers scurrying into Mexico, Brazil, Chile, Peru and Puerto Rico, among other locations.
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A slowing market in the U.S. has sent developers scurrying into Mexico, Brazil, Chile, Peru and Puerto Rico, among other locations. In the first installment of this Industry Current, investors and developers share experiences in Latin America and discuss the economics, potential and challenges of the market.
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This week’s Industry Current is written by Ben Davidson and Christopher Gladbach, managing associates of energy infrastructure for Orrick, Herrington & Sutcliffe in Washington, D.C.
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This week’s Industry Current is written by David Burton, partner focusing on tax and global project finance at Akin Gump Strauss Hauer & Feld in New York.
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