Transmission
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Peru’s ProInversión has prequalified 3 bidders in an upcoming auction that will see the agency award 5 transmission projects totalling $441 million.
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FirstEnergy has closed on the final $1.2 billion part of its $3.5 billion sale of a 30% ownership interest in FirstEnergy Transmission (FET) to Brookfield Super-Core Infrastructure Partners.
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State governments across the Northeast have signed a memorandum of understanding (MoU) to coordinate interregional transmission planning.
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CDPQ, through its power transmission platform Verene Energia, has agreed to acquire a 124km transmission project from Equatorial Energia.
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Canadian Infrastructure Bank has finalised a C$283.5 million (US$208m) loan to two Alberta transmission companies to construct a new transmission line.
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Santiago-based utility Transelec has acquired a transmission project located in the Antofagasta region of Chile from TotalEnergies.
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The Governor of Rhode Island, Daniel McKee, has signed an energy storage act into law, as the state aims to develop 600MW of utility-scale energy storage by 2033.
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Neoenergia, through its subsidiary Neoenergia Coelba, has signed a commitment to invest R$1.2 billion ($211m) in distribution networks in Bahia.
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Axium Infrastructure’s Coachella subsidiary has closed on the sale of its 49% interest in Morongo Transmission to the Morongo Band of Mission Indians.
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CenterPoint Energy subsidiary CenterPoint Energy Houston Electric (CPE Houston) has entered a $300 million term loan to cover damage from category 2 hurricane-like winds and tornadoes in Texas, PFR has learned.
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Peruvian investment promotion agency ProInversión has awarded a trio of transmission projects totalling $329 million in investments.
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Peruvian investment promotion agency ProInversión is expected to award $329 million in investments to 3 transmission projects this month (June 2024).
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State-owned power and telecommunications provider Instituto Costarricense de Electricidad (ICE) has signed a letter of interest for financing from the European Investment Bank (EIB).
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energyRe has submitted proposals to the New York Independent System Operator (NYISO) to develop transmission systems bringing offshore wind power to New York City.
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Neoenergia is issuing R$1 billion ($185m) in debentures to finance transmission lines in Brazil.
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Energy storage and RNG developer Captona has closed a preferred equity investment in a community solar and microgrid portfolio owned by Scale Microgrids.
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Strategic Value Partners (SVP) and EverGen Power have launched a partnership to invest in North American natural gas generation.
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Grupo Energía Bogotá, through its subsidiary Enlaza, has landed the greenlight to proceed with its Colectora transmission project in Colombia.
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Plus Power has closed a $133 million financing led by First Citizens Bank and NordLB for its 150MW/300MWh Cranberry Point Energy Storage project in Massachusetts.
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Con Edison has appointed former Evergy executive Kirkland Andrews as CFO as Robert Hoglund transitions toward retirement.
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Grupo Energisa has landed financing from the Brazilian development bank BNDES to support its distribution subsidiaries in Brazil.
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Alupar Investimento has landed a pair of transmission projects in an auction held in March by Chile’s National Electrical Coordinator (CEN).
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Neoenergia is issuing R$1.1 billion ($211m) in debentures to finance transmission lines won in a 2022 auction in Brazil.
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Global investment firm KKR will acquire Canadian energy and services company Emera’s equity interest in the Labrador Island Link (LIL) transmission site.
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Portland General Electric (PGE) has signed a non-binding memorandum of understanding (MoU) to acquire a 20% stake in the 3GW North Plains Connector transmission line, developed by Grid United and Allete.
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The California Independent Systems Operator (CAISO) has approved 2 major transmission initiatives for the state: 26 projects to help support the state's offshore wind capacity and Pattern Energy's SunZia Project tie-in to the state's grid.
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Neoenergia is planning to invest more than R$2.1 billion ($407m) into transmission works between 2024 and 2027 in Brazil.
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Scale Microgrids and EO Charging have formed a non-exclusive partnership to develop EV fleets, associated charging infrastructure, and on-site microgrid energy systems across high-grid capacity regions in the US.
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ISA CTEEP (Companhia de Transmissão de Energia Elétrica Paulista) is planning to issue R$1 billion ($198m) in debentures in Brazil.
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Brazil’s National Electric Energy Agency (Aneel) has approved the draft tender documents for the second transmission auction to be held this year (2024).
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The Federal Energy Regulatory Commission (FERC) has issued a regional transmission policy ruling, Order #1920, creating new interregional lines to accelerate the interconnection of new renewable energy projects.
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Tri-State Transmission has closed on its acquisition of transmission assets from United Power, finalising the split between the electric cooperative and the power distributor, PFR has learned.
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State-owned utility ENEE (Empresa Nacional de Energía Eléctrica) has launched an international auction for the construction of a $132.5 million transmission project in Honduras.
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Comvest Credit Partners has provided a $70 million senior credit facility to Nationwide Energy Partners (NEP) to pay off debt and develop utility infrastructure projects.
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Connecticut utility Eversource plans to reduce investments in the state by $500 million as it continues its 3-year rate dispute battle with the State's Public Utilities Regulatory Authority (PURA).
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United Power has closed on the $627million withdrawal payment to Tri-State Generation and Transmission Association, though sale of the transmission assets finalizing the split remains delayed by the Federal Energy Regulatory Commission, PFR has found.
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ITC Midwest has closed on its acquisition of transmission assets from Iowa's Maqouketa Municipal Electric Utility, PFR has learned.
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Hitachi Energy has invested more than $100 million alongside Investissement Quebec to upgrade and modernise its power transformer factory in Varennes and other facilities in Montreal.
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Georgia Power Company (GPC) has closed on its $317 million transmission line sale to Georgia Transmission Corporation (GTC), PFR has learned.
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Duke Energy has sold an aggregate principal amount of $177.3 million Series A storm recovery bonds to fund transmission repairs caused from major storms, PFR has learned.
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The Governor's Energy Office of Maine has released a request for information (RFI) regarding the state's first utility-scale offshore wind auction, totalling 3GW.
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Enel Brasil is planning to invest R$18 billion ($3.5 billion) for the period 2024-2026 in order to better its services in the country.
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Axium Infrastructure’s Coachella subsidiary will sell its 49% interest in Morongo Transmission to the Morongo Band of Mission Indians.
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The Department of Energy (DOE) selected LS Power's Southwest Intertie Project-North (SWIP-North) as a fourth conditional project for the first round of its Transmission Facilitation Program.
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New England states have jointly-submitted applications to compete in the second round of the Department of Energy (DOE)’s Grid Innovation Program (GIP) which has $1.82 billion to award.
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An Arizona federal judge has rejected a request by Native American tribes and environmental groups to halt the construction of Pattern Energy's SunZia project.
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Peru’s ProInversión has prequalified 5 bidders in an upcoming auction that will see the agency award 3 transmission projects.
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Entergy New Orleans is issuing $150 million in first mortgage bonds with the Bank of New York Mellon, PFR has learned.
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Alternus Clean Energy, a utility-scale independent power producer, has entered a joint venture partnership with Acadia Energy to develop 200MW of microgrid projects in New York State.
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Tri-State Generation will replace retiring chief operating officer (COO) Billy Ingold with 2 internal promotions, PFR has learned.
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Chinese multinational State Grid (SGCC) plans to invest R$200 billion ($39.4bn) in the Brazilian electricity sector following its victory in Brazil's largest power transmission auction.
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Renew Energy Partners has completed financing on its fourth investment vehicle, Renew Energy Efficiency Projects 4 (EEP4), and signed a master revolving loan and security agreement with Mitsubishi.
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Brazil’s National Electric Energy Agency (Aneel) has awarded projects in the first transmission auction of the year.
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Natixis Corporate & Investment Banking has closed a $900 million letter of credit with Invenergy to fund its project development pipeline of utility-scale wind and solar projects, as well as battery storage systems.
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FirstEnergy has closed its $3.5 billion sale of an additional 30% ownership interest in its FirstEnergy Transmission subsidiary to Brookfield Super-Core Infrastructure Partners.
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The European Investment Bank (EIB) has signed a $125 million loan to support transmission development in Ecuador.
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Equatorial Energia has completed the sale of its transmission business Integração Transmissora de Energia (Intesa) in Brazil.
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The Department of Energy (DOE) has awarded $475 million in funding for 5 projects that feature renewable development on former mining lands. The projects are located across Arizona, Kentucky, Nevada, Pennsylvania, and West Virginia.
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Schneider Electric plans to invest $140 million into 2 Tennessee-based power distribution technologies manufacturing plants.
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Ørsted's 132MW South Fork Wind is the first utility-scale offshore wind project to become fully operational in the US. The achievement comes after nearly a decade of industry struggles since the first large-scale transmission farm, Cape Wind, failed in 2015.
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The Department of Energy's (DOE) Loan Programs Office (LPO) has signed a conditional loan of $72.8 million with the Tribal lands of the Viejas Band of the Kumeyaay Indians to develop a solar-plus-storage energy microgrid in Alpine, California.
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Delays on the development and licensing of transmission projects across Latin America is driving away investor interest, panelists at IJLatam 2024 in Miami said.
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EQT Corporation will acquire natural gas provider Equitrans Midstream Corporation in an all-stock transaction valued at $5.45 billion.
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Spanish utility Iberdrola has submitted a non-binding offer to buy the remaining 18.4% of its US subsidiary Avangrid for $2.5 billion, aimed at taking over the entire company.
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Peruvian investment promotion agency ProInversión has called a tender for 3 transmission projects valued at a total of $100.8 million.
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Mammoth Energy Services has received $50.6 million from the Puerto Rico Electric Power Authority (PREPA) clearing the company's debt to the SPCP Group.
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The largest clean energy infrastructure project in US history was closed just before we started the new year. Pattern Energy inked $11 billion in financing for its 500+ mile transmission line connecting more than 3.5GW of stranded wind resources – SunZia.
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The New York State Energy Research and Development Authority (NYSERDA) has issued conditional agreements for 2 offshore wind projects in its fourth offshore wind solicitation: 810MW Equinor-owned Empire Wind 1 and Ørsted & Eversource-developed 924MW Sunrise Wind.
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DE Shaw Renewable Investments (DESRI) will sell multiple transmission assets associated with its Arroyo Solar Project to the Public Service Company of New Mexico (PNM), PFR has learned.
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Tri-State Generation and Transmission Association has received a key state-level regulatory approval from the Colorado Public Utilities Commission (CPUC) on the $75 million sale of its transmission facilities, contracts, and assets to United Power, PFR has learned.
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The Department of Energy (DOE) has conditionally awarded $366 million to 17 projects that aim to improve the transmission and electrical distribution of power in rural and remote areas across the US.
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PJM Interconnection has appointed Eversource Energy's senior vice president of engineering as its executive VP of operations.
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Actis has today (21 February) launched a Brazilian transmission platform with the acquisition of an operational transmission asset.
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Brazil’s National Electric Energy Agency (Aneel) is preparing its second transmission auction to be held this year (2024).
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Cemig-D, the Brazilian utility’s distribution business, is planning to issue R$2 billion ($402 million) in bonds on 15 February 2024.
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ISA CTEEP has committed to invest a total of R$5 billion ($1 billion) in Brazilian transmission by 2029.
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Law firm Skadden has rehired the former commissioner, chairman and general counsel of the Federal Energy Regulatory Commission (FERC).
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Spanish construction group Grupo ACS, through its subsidiary Dragados, has landed financing for 3 transmission lines in Peru.
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Jamaica Public Service Company (JPS) has landed a $100 million financing package from development finance institution IDB Invest.
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The Department of Energy (DOE) has opened a request for proposals (RFP) for the second round of its utility-scale transmission upgrade program, with $1.2 billion available to fund projects.
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Enel has landed conditional approval for the sale of its distribution businesses in Peru to China Southern Power Grid International (CSGI).
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Peru’s investment promotion agency ProInversión is launching a tender for 4 transmission P3 projects, totalling $137 million in investments.
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Energía de Colombia SAS ESP has requested a loan from IDB Invest for a transmission project the company is refinancing in Colombia.
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Chile’s National Electric Coordinator (CEN) has released its 2024 plan to expand the transmission system in the country.
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JP Morgan-backed independent power producer Onward Energy has hired the former chief executive of the California Independent System Operator (CAISO) to replace president and CEO, Steve Doyon, who has retired.
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Consortiums led by Invenergy and TotalEnergies were awarded offshore wind projects with conditional contracts of 3.74GW capacity as the New Jersey Board of Public Utilities (NJBPU) closes its third-round tender.
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Power company Grupo Energisa has launched a R$2 billion ($405 million) share offering in Brazil.
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United Power is to buy its transmission facilities, contracts, and assets, from Tri-State Generation and Transmission Association (Tri-State) for $75million in a transaction critical for the utility's split from the electric cooperative, PFR has learned.
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Power company Grupo Energisa is preparing a potential R$2 billion ($405 million) share offering in Brazil.
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The Bureau of Land Management (BLM) has announced its plan for solar projects across the western US through an updated roadmap as part of its solar development plan for the region.
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GE-owned power plant EFS Parlin has closed on the sale of all of its interconnection rights and started the decommissioning process of its 123.5MW natural gas facility following bankruptcy.
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Xcel Energy has commenced construction on its two initial phases of the 460MW Sherco Solar project, with an additional 250MW co-sited solar array is pending permit approval, as it replaces a coal-fired plant in Minnesota.
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India’s Sterlite Power has landed financing from Sudene’s Northeast Development Fund (FDNE) for a transmission project in Brazil.
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Allete and Grid United's subsidiary, North Plains Connector, have signed development agreements on the North Plains Connector project, an approximately 400-mile high-voltage direct-current (HVDC) transmission line from central North Dakota to Colstrip, Montana.
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Southern Company subsidiary Georgia Power Company (GPC) will sell multiple specified transmission lines to Georgia Transmission Corporation (GTC), PFR has learned.
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Brazil’s National Electric Energy Agency (Aneel) has awarded projects in the second transmission auction of the year.
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Renewables and utility project developer Invenergy has opened a regional office in Montreal, becoming the company’s Quebec-based hub for Eastern Canada.
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IDB Invest has agreed to provide long-term financing to Air-e to support the company’s distribution services in Colombia.
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PJM Interconnection awarded Potomac Edison and Mid-Atlantic Interstate Transmission (MAIT) 3 transmission projects, totaling more than $800 million, in Pennsylvania, Maryland, Virginia, and West Virginia.
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PJM has selected the MidAtlantic Resiliency Link project proposal from a NextEra subsidiary to address reliability issues in its western grid sections.
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Renewable and utility developer Invenergy has acquired the Atlantic Power Transmission (APT) project from Blackstone, relaunching the New Jersey transmission initiative as Jersey Link, to support New Jersey’s offshore wind goals.
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Brazilian utility Alupar won a transmission project in an auction launched in August by Colombia's Mines and Energy Planning Unit (UPME).
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Renewables developer energyRe has raised a $1.2 billion capital package to develop and construct its 10.5GW solar, wind, and storage portfolio, as well as 500 miles of transmission.
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Although an issue facing the whole energy sector, transmission and grid connectivity for the offshore wind industry has reached a whole new level of complexity.
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Enel is planning to invest $5.7 billion across its core markets in Latin America for the period 2024-2026.
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Brazil’s National Electric Energy Agency (Aneel) has approved the draft tender documents for the first transmission auction to be held in 2024.
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Colombian infrastructure company Interconexión Eléctrica SA (ISA) has secured an up to COP$500 million ($124 million) loan.
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A section of Pattern Energy’s $10 billion Arizona-based SunZia Transmission project has been temporarily suspended by federal land managers following a request from the Tohono O’odham Nation.
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Colombian energy company Grupo Energía Bogotá (GEB) has issued a $400 million green bond, the first such bond issued by a Colombian company on the international market.
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French energy company Engie is issuing R$2.5 billion ($507 million) in debentures to refinance assets in Brazil.
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FirstEnergy is planning a 5-year, $935 million transmission infrastructure upgrade in New Jersey.
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Canadian power company TransAlta will acquire Heartland Generation and Alberta Power (collectively, Heartland) from an affiliate of Heartland’s parent company, Energy Capital Partners.
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Italy-based energy and telecom cable systems company Prysmian Group has signed a €900 million ($951 million) agreement with Clean Path New York for submarine and land power cable systems.
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EDP Brasil has agreed to offload a duo of operational transmission projects to Edify Empreendimentos e Participações.
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Brazil’s Equatorial Energia is parting ways with its transmission business Integração Transmissora de Energia (Intesa).
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MISO has selected an Ameren subsidiary to lead the development of a $84 million transmission project during the board's second bidding process for Tranche 1 of its Long-Range Transmission Planning (LRTP).
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Peru’s investment promotion agency ProInversión has awarded a duo of transmission projects totaling $800 million in investments.
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Texas-based utility CenterPoint Energy has appointed Jason Wells to chief executive and board member.
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The New Mexico Public Regulation Commission (PRC) has approved Xcel's early closure of its 1.067GW coal-fired Tolk Generating Station in 2028.
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French construction company Vinci has won two contracts to carry out engineering, procurement, and construction (EPC) services for transmission projects in Brazil.
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Rise Light & Power and Corio have purchased stakes in TotalEnergies's 3GW Attentive Energy offshore wind farm, paying a total of $420 million.
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New York Governor Kathy Hochul has vetoed an Equinor and BP-endorsed bill to build underground transmission lines from its offshore wind projects into the city of Long Beach. Hochul's rejection of the Planned Offshore Wind Transmission Act strikes another blow to the industry a week after the state government shot down a financial relief bill for offshore wind developers.
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The Department of Energy (DOE) has awarded $3.46 billion for 38 grid-reliability projects, which will modernize and stabilize the grid, especially from extreme weather events.
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Brazilian power company Energisa is issuing bonds for up to R$1.837 billion ($364 million) to finance energy infrastructure projects across Brazil.
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Invenergy's $7 billion transmission project, the Grain Belt Express, has received approval from the Missouri Public Service Commission (MPSC), the last step in securing state approval for project enhancements.
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Neoenergia has completed the sale a 50% stake in the company’s transmission assets to a fund of Singaporean institutional investor GIC.
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Peru’s investment promotion agency ProInversión is planning to award a duo of transmission projects totaling $800 million in investments on October 27, 2023.
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Maritime Electric Company, a Prince Edward Island (PEI), Canada-based utility, has received $19 million from the Canadian government for its sustainable electrification initiative aimed at updating the local grid and critical connection areas.
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The SOO Green HVDC Link transmission project, a unique underground transmission line that will follow the route of existing Canadian Pacific railroads, moved a step further towards construction after it was approved by Iowa regulators.
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A bill to streamline the US energy transmission system has been introduced by Californian politicians.
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Energy management business Schneider Electric has revealed its 160,000-square-foot electrical manufacturing plant in El Paso, Texas, its largest factory in the US. The plant will produce low- to medium-voltage electrical products used to transfer power from the grid to industrial, commercial, and residential customers.
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Power management company Eaton has made a $150 million investment in electrical power distribution manufacturing, bolstering its manufacturing presence in North America.
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Described as “transformative legislation” and a “fantastic opportunity” the Inflation Reduction Act (IRA) has bolstered investment into US renewable energy at breakneck speed. Yet, one year on from its historic enactment many hurdles remain for financing renewables projects in the US. Chiefly, the permitting system.
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I Squared Capital has sold its electric distribution business the firm owns in Guatemala to Threelands Energy.
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Brazil’s National Electric Energy Agency (ANEEL) is preparing for the first transmission auction to be held in 2024.
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Rialma Administração e Participações is set to win an additional transmission lot in Brazil’s June auction after the original winner was disqualified.
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Power management company Eaton has invested $500 million to expand its transformer and EV charging technology manufacturing presence in North America, to aid in grid modernization and support the US energy transition.
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Peru's ProInversión has granted transmission projects totaling $118 million in investments.
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ISA CTEEP (Companhia de Transmissão de Energia Elétrica Paulista) is being considered for one of the unawarded lots in Brazil’s June transmission auction.
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Brazil’s Ministry of Mines and Energy is planning to invest R$75 billion ($15.4 billion) in the renewable sector under the newly launched Novo Pac, the third edition of the Growth Acceleration Program.
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The Superintendency for the Development of the Northeast (Sudene) has provided financing for several projects, including renewable generation and transmission, in Brazil.
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Xcel Energy has filed the paperwork on an upgrade of nearly 100 miles of transmission line in Minnesota and eastern South Dakota,
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Peruvian investment promotion agency ProInversión is tendering five transmission projects in Peru.
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Illinois governor J. B. Pritzker has vetoed a portion of a bill that would limit transmission competition and raised prices on green energy projects in the state.
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On-site industrial energy developer One Energy and SPAC, Tortoise Acquisition Corp. III (TRTL), have entered into a merger agreement to become the publicly listed company One Power Co. The new firm has an enterprise value of $300 million, with common stock valued at $10 per share.
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Guatemala's National Electric Energy Commission (CNEE) has revealed the full list of 16 awardees from the PEG-4 reverse auction, and over 70% (or 191MW) of the auction's 235MW was given to new renewable energy projects.
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The Alberta government has paused approval of renewable generation projects as the Alberta Utilities Commission (AUC) reviews recent policy issues and competing public interest factors.
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Brazil’s National Electric Energy Agency (Aneel) has disqualified one of the winning bidders in a transmission auction held earlier this year citing the winner's incapability to carry out the projects.
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Minnesota Power and Great River Energy's joint transmission project, Northland Reliability Project, has reached another step in the state regulatory process.
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Brazil’s National Electric Energy Agency (Aneel) has approved the draft tender documents for the second transmission auction of 2023.
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Hydro One, Ontario's largest transmission and distribution provider, has filed an application with the Ontario Energy Board (OEB) to build and run its proposed $1.2 billion Waasigan Transmission line, which will provide energy to northwestern Ontario.
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Peruvian investment promotion agency ProInversión has awarded the Piura Nueva – Frontera transmission PPP that will interconnect Peru and Ecuador.
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The FERC has unanimously passed the final rule for Order #2023, which reforms the commission's generation interconnection procedures and aims to shorten the wait time for projects to connect to the grid.
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State-owned utility Companhia Paranaense de Energia (Copel) has launched a R$4.3 billion ($912 million) share offering to privatize the company.
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FirstEnergy subsidiary West Penn Power will expand transmission in Pennsylvania as it begins connecting solar energy projects in Fulton and Franklin counties to the state’s electric grid.
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RS Technologies, a portfolio company of Werklund Growth Fund and Energy Impact Partners, closed a multi-bank credit facility with JP Morgan, Bank of Montreal, The Toronto-Dominion Bank, and Export Development Canada.
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Brazil’s National Electric Energy Agency (Aneel) has awarded projects in the first transmission auction of the year.
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The Government of Ecuador has fulfilled parts of a pre-contractual procedure to obtain credit lines to fund a transmission line cross-border project between Ecuador and Peru.
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The Development Bank of Latin America (CAF) has approved a loan to finance distribution networks in Ecuador.
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LS Power Grid Maine has received legislative approval for Aroostook Renewable Gateway, an electric transmission line to interconnect renewable energy resources in northern Maine with the electric grid operated by the New England independent system operator (ISO-NE).
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The New York Independent System Operator (NYISO) has selected the Propel Alternate Solution 5 project for the Long Island Offshore Wind Export Public Policy Transmission Need solicitation.
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Colombian energy distributor Air-e has requested a loan from IDB Invest to support the development of its distribution services.
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Brazil’s National Electric Energy Agency (Aneel) has confirmed the first transmission auction of this year to be held on June 30.
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Neoenergia, the Brazilian energy distributor owned by Iberdrola, has landed a green and sustainability-linked loan from the International Finance Corporation (IFC) to support the expansion of its distribution subsidiary.
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Republic Transmission – a subsidiary of LS Power – has secured a contract from MISO to develop, own, operate and maintain a double-circuit transmission line in northern Indiana.
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Neoenergia has signed a financing agreement that will support the expansion of its energy distribution business in Brazil.
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New Jersey has begun the process for its second offshore wind transmission solicitation, which will bring the state closer to its newly increased offshore wind policy target of 11GW.
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Peruvian investment promotion agency ProInversión and Acciona have signed a concession contract for 2 power transmission lines in Peru.
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Brookfield-backed Quantum has acquired the remaining stake in transmission company Sertaneja.
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I Squared Capital has completed a $400 million growth capital investment in US distributed energy resource platform RPower.
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Chilean transmission company Transelec has boosted the capacity of a power line running through the Santiago Metropolitan Region to avoid curtailment of renewable energy due to grid constraints and prevent financial losses.
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Neoenergia has agreed to sell half of its transmission assets to a fund of Singaporean institutional investor GIC.
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The World Bank’s International Finance Corporation (IFC) will provide up to $175 million to strengthen Guatemala’s power distribution.
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The government of Colombia will tender a 500/230kV transmission substation project, the first such tender in in the country.
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Canada’s Algonquin Power & Utilities Corp. and American Electric Power have pulled the plug on the deal for AEP’s utility subsidiary Kentucky Power and its transmission business AEP Kentucky Transco.
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Peruvian investment promotion agency ProInversión is looking to award the Piura Nueva – Frontera transmission project in July.
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Chile’s national energy commission is calling for an international public tender to award the construction, execution and operation of 15 transmission works, with a combined value of $414 million.
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Paraguay’s National Electricity Administration (ANDE) and the Plata Basin Financial Development Fund (Fonplata) have agreed to terms for a loan to develop a transmission line project.
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Brazil’s National Electric Energy Agency (Aneel) is preparing its second transmission auction of the year, the largest in terms of investments ever held in the country.
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Argentina’s federal transmission trust fund has launched a tender for a project in Catamarca province as part of the country’s regional electricity improvement plan.
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The California Independent System Operator (CAISO) has nominated LS Power Grid California to finance, construct, own, operate and maintain two projects to support electricity reliability in California:
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The Chilean National Commission of Energy is launching a request for proposals (RFP) for transmission projects in the country.
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FirstEnergy Corp. has agreed to sell an additional 30% stake in its transmission unit to an affiliate of investment firm Brookfield Asset Management.
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Peruvian investment promotion agency ProInversión has awarded two electricity transmission PPPs to Spain-based infrastructure company Acciona Concesiones.
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Allete is partnering with Grid United on a $2.5 billion transmission line between the states of North Dakota and Montana.
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The National Electric Coordinator has released its plans for a $279 million expansion of the transmission system in Chile.
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Brazil’s National Electric Energy Agency has awarded projects, in the last transmission auction of the year.
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Enel Chile has completed the sale of the company’s transmission business to Chilean transmission company Grupo Saesa.
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Enel has landed COP$449 billion ($93.7 million) in financing from Bancolombia to support the company’s decarbonization strategy and electrification expansion.
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FirstEnergy Corp., through its subsidiary American Transmission Systems, (ATS), will build a 138 kV high-voltage transmission line in Lorain County, Ohio.
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Grupo Energía Bogotá (GEB) has completed its acquisition of five transmission lines in Brazil.
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The Inter-American Development Bank (IDB) has agreed to finance a 544km transmission line between Ecuador and Peru.
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Energy provider AES Andes has agreed to bidirectional energy exchanges between Chile and Argentina through the InterAndes electrical interconnection line.
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Pattern Energy has received key approvals that will allow the construction of the SunZia transmission project and the SunZia wind projects next year (2023).
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Brazil’s National Electric Energy Agency (Aneel) has approved the public notice for the second transmission auction the agency is holding this year.
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Transmisora Colombiana de Energía (TCE) has secured financing to complete the construction of a transmission project in Colombia.
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French construction company Vinci has signed a public-private partnership for a transmission project in Brazil.
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Canada’s Algonquin Power & Utilities Corp. has agreed to a new transaction price for its acquisition of American Electric Power's (AEP) utility subsidiary Kentucky Power and its transmission business AEP Kentucky Transco.
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The Ministry of Mines and Energy is launching a 5-project tender for electric transmission in Peru.
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Equatorial Energia has agreed to acquire Enel Brasil's distribution business Celg-D (Enel Goiás).
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Chile’s National Electric Coordinator (CEN) has awarded transmission projects in a tender launched earlier this year.
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Argentine electric utility Edenor is preparing its second bond issuance in the local market this year, scheduled for September 22.
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Starwood Energy Group has entered into a $100 million joint venture with a US transmission company to finance and accelerate grid modernization.
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Grupo Energía Bogotá (GEB) has entered an agreement to acquire 100% interests in five transmission concessions in Brazil.
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Enel Colombia has landed a COP 411 billion ($93.4 million) sustainability-linked financing from Bancolombia.
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The Inter-American Development Bank (IDB) has approved a $1.14 billion credit line to support the decarbonization of Argentina’s energy sector.
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Private investment agency Proinversión, in collaboration with the Ministry of Mines and Energy, is launching a tender for transmission projects in Peru.
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Spain’s Acciona has won two transmission projects in a tender launched last October by Peruvian investment agency ProInversión.
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A regional subsidiary of Brazilian energy company Neoenergia has signed a R$550 million ($105 million) “super green” loan with the IFC.
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Neoenergia, Iberdrola’s subsidiary operating in Brazil, has won two transmission projects totaling 1,998 km in an auction held by the national regulatory agency Aneel.
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Brazilian power holding Grupo Energisa has completed its acquisition of transmission company Gemini Energy.
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FirstEnergy Corp has closed the sale of a minority stake in its transmission business to Brookfield Infrastructure Partners after the two companies reached an agreement for the platform last November.
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AES El Salvador is planning a $370 million refinancing which will see the company replace its 2023 bonds with a new senior debt facility.
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Brazilian transmission company Taesa (Transmissora Aliança de Energia Elétrica) has issued R$1.25 billion ($243 million) in green debentures to finance investments in 3 transmission concessions.
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Caisse de dépôt et placement du Québec (CDPQ) has agreed to purchase Terna’s transmission portfolio, which is spread between Brazil, Peru and Uruguay.
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The New York Power Authority (NYPA) has received more than $608 million in green bonds to finance clean energy transmission in New York State.
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The New Jersey Board of Public Utilities (NJBPU) has postponed its third offshore wind solicitation in order to weigh transmission proposals that would interconnect offshore wind generation to the state's grid, and to allow the recent winners of the NY Bight offshore wind auction more time to prepare their project proposals.
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Spanish development fund COFIDES has agreed to invest equity in transmission concessionaire Energía de Colombia.
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Brazilian power holding company Grupo Energisa is set to acquire Gemini Energy, which owns stakes in three transmission concessions.
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Ecuador's Ministry of Energy and Non-Renewable Natural Resources (MERNNR) has extended the deadline for companies to register interest in a trio of tenders for renewables, gas-fired and transmission projects in the country.
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Holland & Knight has recruited Camilo Gantiva Hidalgo as a partner in its capital markets and financial law practices in Bogotá, Colombia.
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Invenergy has appointed Omar Martino to the post of executive vice president, markets and regulatory.
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Portugal's EDP has completed its acquisition of CELG-T, a Brazilian transmission company that operates in the state of Goiás.
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Argo Energia Empreendimentos e Participações (Argo) has closed its acquisition of an electricity transmission platform in Brazil.
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PJM Interconnection and the New Jersey Board of Public Utilities (NJBPU) have outlined plans to interconnect about 7.5 GW of offshore wind generation to the grid by 2035, through proposed transmission projects.
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Chile’s national electric coordinator (CEN) has launched a new transmission tender for 15 projects that will require a collective investment of $300 million.
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Brazilian transmission line operator Quantum has used its preference rights to acquire the remaining 50% stakes in two transmission projects.
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The Brazilian Ministry of Mines and Energy (MME) has received studies for over 6,000 km of proposed transmission lines and associated substation infrastructure in the country's Northeast region.
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Chile’s National Electric Coordinator (NEC) has officially awarded the tender for the Kimal-Lo Aguirre transmission project, connecting the northern and central regions of Chile's grid, to a consortium led by Colombia's Interconexion Electrica (ISA).
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Colombia’s Mines and Energy Planning Unit (UPME) is planning the launch of a procurement process for a transmission project in the department of Antioquia.
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Colombia’s Mines and Energy Planning Unit (UPME) is working on a procurement process for the development of a substation and related transmission lines in the department of Casanare.
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A consortium led by Colombia's Interconexion Electrica (ISA) has presented the best offer for the procurement process of the Kimal-Lo-Aguirre transmission project, which will connect the northern and central regions of Chile's grid.
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A Blackstone Infrastructure Partners portfolio company has submitted an application to develop an offshore wind transmission project to the New Jersey Board of Public Utilities (NJBPU).
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Investment manager CYMI Holdings has brought online a transmission line to mitigate the impact of the drought on hydro plants.
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Vinci Partners is planning to divest a 50.1% stake in power transmission concessionaire Linhas de Energia do Sertao Transmissora (Lest).
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Brazilian power regulator Aneel has advanced plans for a transmission auction to be held in 2022.
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Brazilian power regulator Aneel has approved a transmission auction that will take place on December 17 in Sao Paulo.
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NextEra Energy has submitted a series of offshore wind transmission project proposals, collectively named New York Renewable Connect, to the New York Independent System Operator (NY-ISO).
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First Energy Corp has secured about $3.4 billion of equity commitments from a pair of private equity firms, one of which will acquire a minority stake in three of the company's transmission businesses.
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Argo Energia Empreendimentos e Participacoes (Argo) has inked an agreement with Rialma Administracao e Participacoes in Brazil to buy a local transmission platform.
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NextEra Energy Transmission has been awarded the Wolf Creek-Blackberry transmission line, which will extend from Kansas to Missouri, by the Southwest Power Pool (SPP).
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PSEG and Orsted have submitted several joint proposals to develop offshore wind transmission infrastructure within the PJM Interconnection market.
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Enel’s transmission platform Enel Transmision has reached a deal to incorporate a smaller Enel subsidiary, Empresa de Transmision Chena, into its business.
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A buyer north of the border has emerged for American Electric Power's regulated utility subsidiary Kentucky Power and its regulated transmission business AEP Kentucky Transco.
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Enel Generacion Chile has begun the permitting process for a transmission project that will interconnect Chile and Argentina.
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Colombian developer Empresas Publicas de Medellin (EPM) has received permission from the national finance ministry to raise funds for its 2021-2023 planned investments.
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Costa Rica-owned power and telecommunications provider Instituto Costarricense de Electricidad (ICE) has closed a bond issuance to finance the development of electric smart meters across the grid.
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A pair of bidders have put forward their offers for the Kimal-Lo-Aguirre transmission project, which will connect the northern and central regions of Chile's grid.
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Brazil’s power regulator Aneel has signed off on concession contracts awarded in June for 515 km (320 miles) of transmission projects within the country.
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Petroeléctrica de los Llanos has begun the permitting process for a transmission project in the Colombian department of Casanare.
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Chilquinta Energia is planning to merge its transmission subsidiary, Chilquinta Transmision, with its affiliate Compañía Transmisora del Norte Grande (CTNG) in Chile.
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Elecnor's Brazilian subsidiary, Elecnor do Brasil, has started construction work on a 200 km (124.27-mile) transmission line in the country.
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PPL Corp has bought a stake in the SOO Green HVDC Link transmission project, a unique underground transmission line that will follow the route of existing Canadian Pacific railroads.
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New York state has selected an $11 billion infrastructure project developed by Invenergy, energyRe and the New York Power Authority (NYPA) to deliver more than 7.5 million MWh of renewables-powered electricity within the state.
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Uruguay’s state-owned National Administration of Power Plants and Electric Transmission (UTE) has secured financing for a 365 km (226.8-mile) transmission project in the country.
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The president of Vestas' North America division has left the firm for a role at an independent power producer based in the UK.
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A subsidiary of Brazilian power holding company Grupo Energisa has secured construction financing for three transmission lines in the country's Tocantins and Bahia states.
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Ecuador’s Ministry of Energy and Non-Renewable Natural Resources has announced the launch of three procurement processes for renewables, gas-fired and transmission projects in the country.
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LS Power subsidiary Rise Light & Power has bought the site of a retired oil-fired power plant in New Jersey and plans to redevelop it as an interconnection point for offshore wind farms to deliver electricity to the state's grid.
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Two Chilean distribution firms that own generation and transmission assets in the country are preparing to split up those businesses in order to comply with a 2019 bill.
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Engie Energia Chile has begun the permitting process for a substation in the country's Antofagasta region.
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Spanish construction firm Ortiz Construcciones y Proyectos has clinched a debt package for a transmission line in the Colombian department of Atlántico.
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Invenergy Renewables Global subsidiary Tealov has closed a debt package with IDB Invest to finance the construction of a transmission line in Uruguay.
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In a deal that took almost a year to close, Interchile, a subsidiary of Colombia's Interconexion Electrica (ISA), raised about $1.2 billion of bonds to refinance a sprawling transmission portfolio interconnecting the entire northern half of Chile.
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Colombian state-owned Ecopetrol has completed its purchase of a 51.41% stake in transmission company Interconexión Eléctrica (ISA) from the Colombian Ministry of Finance and Public Credit.
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Interchile, a subsidiary of Colombia's Interconexión Eléctrica (ISA), is moving forward with the construction of two substations in Chile.
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Independent power producer Colbun has won regulatory approval for the sale of its transmission subsidiary to Dutch fund APG and Celeo Redes, which was inked in March.
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Brazilian power regulator Aneel has approved the draft outline for an upcoming transmission line auction, which is now scheduled for December 17.
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Ecopetrol is planning to acquire a 51.4% stake in transmission company Interconexión Eléctrica (ISA) by buying the shares held by the Colombian Ministry of Finance and Public Credit.
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Colombia’s Grupo Energia Bogota has begun the permitting process for a transmission project in the department of Magdalena.
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Colombia’s Empresas Públicas de Medellín has begun the permitting process for a transmission line in the country's northwestern department of Antioquia.
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Celsia-owned Empresa Energia del Pacifico (EPSA) has begun the permitting process for a transmission project in the Colombian departments of Cordoba and Sucre.
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Interchile, a subsidiary of Colombia's Interconexión Eléctrica (ISA), has issued $1.2 billion in bonds to repay the debt on its 1,954 km (1,214.16-mile) Chilean transmission portfolio.
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Colombia’s Interconexión Eléctrica (ISA) has begun the permitting process for a transmission project in the La Guajira, Magdalena and Cesar departments.
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Colombia’s Ministry of Mines and Energy and Panama’s National Secretariat of Energy have signed an agreement laying out the terms for an electrical interconnection project between the two countries.
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Colombia’s Mines and Energy Planning Unit (UPME) is working on a procurement process for the development of a substation and related transmission lines in the department of Arauca.
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A buyer has emerged for a natural gas pipeline and storage developer based in the Northeastern US, following a competitive auction process.
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Ormat Technologies has agreed to acquire a portfolio of operational and development-stage geothermal assets in Nevada and an associated transmission line from Terra-Gen.
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Stonepeak Infrastructure Partners has completed the sale of its RED-Rochester district energy system in New York state to SDCL Energy Efficiency Income Trust.
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M&A bankers are readying the sales of a number of district energy systems that are anticipated to hit the auction block in the coming weeks.
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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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Oil company Ecopetrol has begun exclusive negotiations to acquire the Colombian government’s majority stake in international transmission company Interconexión Eléctrica (ISA), after making a bid in January.
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Iberdrola’s Neoenergia is planning to issue R$2 billion ($369 million) in debentures in the Brazilian capital markets to finance its acquisition of Companhia Energetica de Brasilia Distribuição, having won an auction to privatize the distribution company last year.
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Engie has resumed construction work on the Gralha Azul transmission system in the Brazilian state of Paraná, after progress was halted by a dispute over environmental permits last year.
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Utility group NV Energy is exercising its option to buy a 20% stake in a transmission line in Nevada after the project was brought online earlier this year.
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Brazil’s power regulator Aneel has approved the bidding documents for an auction of transmission lines scheduled for December 17.
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Brazil’s Evoltz is preparing to issue debentures totaling R$1 billion ($187 million) for its transmission line subsidiary Norte Brasil Transmissora de Energia.
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Peru’s procurement agency ProInversión has launched the bidding documents for the 500 kV Piura – Nova Frontera transmission line.
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British fund manager Cubico Sustainable Investments has acquired its first transmission assets by taking a stake in Celsia’s Colombian portfolio through a newly formed vehicle called Caoba Inversiones.
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Chilean firm Grupo Transelec has begun the permitting process for two transmission projects, having won contracts for them in February.
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A subsidiary of Engie in Brazil has suspended construction on a transmission line because of a judicial decision.
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After Panama's Empresa de Transmisión Eléctrica awarded a contract for a transmission project in September, rival bidders have questioned the legitimacy of the process, which is under review.
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Transmission developers will be able to review bidding documents for a transmission line to connect the grids of Peru and Ecuador later this week when the Peruvian government makes them available on October 16.
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As Latin America's power sector grapples with the consequences of the pandemic, PFR has brought together a diverse panel to share their perspectives on how the market will move forward.
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The owner of a transmission project in Chile is looking to refinance it in the bond market, four years after the asset was originally financed by a club of banks.
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Chile's National Electric Coordinator (NEC) is structuring a procurement process for a transmission project connecting the north and center of the country's grid.
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Chilean firm Grupo Transelec has begun the permitting process for a large transmission project in Chile's Los Lagos region.
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Mexico's Comisión Federal de Electricidad has canceled the procurement processes for two transmission projects in the country that have been in the works since 2019.
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Chilean independent power producer Colbún has begun a search for investors to take an equity stake in its transmission subsidiary Colbún Transmisión or buy it entirely.
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Peruvian state agency Proinversión is preparing a procurement process for two transmission projects that will require a total investment of $50 million.
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Chilean independent power producer Colbún has begun a search for investors to take an equity stake in its transmission subsidiary Colbún Transmisión or buy it entirely.
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Peru’s second-largest transmission company, Consorcio Transmantaro (CTM), is planning to offer an additional $200 million of bonds under an existing series.
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The US Federal Energy Regulatory Commission has approved the sale by Consumers Energy of transmission assets in Michigan to Michigan Electric Transmission Co.
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The new administration in the Dominican Republic has announced plans to update the regulatory framework for renewable energy to create a more favorable environment for private investors.
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Chile's Celeo Redes has begun the permitting process for a large transmission project in the regions of Maule, Ñuble, and Biobío.
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Colombia's Interconexión Eléctrica, through its subsidiary ISA Peru, has completed the acquisition of a Peruvian transmission company from I Squared Capital.
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Brazilian generation and transmission company Alupar Investimento has reached financial close on a debt package for a transmission project in Colombia, the first international project financing for a transmission line in the country.
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Colombia’s state-owned electric services company Interconexión Eléctrica (ISA) has issued its first ever green bond in the local market, raising Ps$300 billion ($79.7 million) to finance two transmission projects in the Caribbean.
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Colombia's Grupo Energia de Bogota (GEB) has won the contract to develop a transmission project in the Caribbean region following a drawn-out tender process that was delayed six separate times.
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Brazil’s power regulator Aneel has approved the bidding documents for a transmission line auction which is scheduled for December 17.
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Spain's Ortiz Construcciones y Proyectos has requested an up-to-$20 million credit line from development finance institution IDB Invest to pay its suppliers in Panama, Colombia, and Mexico.
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Hydro-Québec's Isabelle Bedard has been seconded to Innergex Renewable Energy as a finance and M&A director as part of strategic alliance between the two companies.
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Canadian government agencies have committed funding for a transmission line on Prince Edward Island that would potentially support a long-awaited Invenergy wind farm.
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Spanish infrastructure firm Ezentis has won an $8.2 million contract for transmission work related to three substations in Chile.
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NV Energy has revealed plans to develop a 586 mile two-phase transmission line project in Nevada between Ely and Las Vegas by 2031.
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Colombia's Mines and Energy Planning Unit (UPME) has pushed back the procurement process for a transmission asset in the Caribbean region by two weeks – the sixth rescheduling since the tender was initially launched in January.
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Colombia's Ministry of Mines and Energy has approved two transmission projects that will be put out to tender shortly.
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Brilhante Transmissora de Energia, a Brazilian transmission joint venture between Cobra Group and Celeo Redes, has raised R200 million ($37.4 million) in debentures.
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Chile's National Electric Coordinator (NEC) has awarded 18 small-scale transmission projects representing a combined investment of $57.5 million to six companies.
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Canada's Northland Power has signed an agreement for a C$465 million ($340.7 million) non-recourse holdco debt package to finance its acquisition of Colombian distribution utility Empresa de Energía de Boyacá (EBSA).
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The Financial Oversight and Management Board for Puerto Rico and the Puerto Rico Public Private Partnerships Authority have signed a P3 agreement with LUMA Energy to manage and operate the transmission and distribution system of the Puerto Rico Electric Power Authority.
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Colombia's Mines and Energy Planning Unit (UPME) has postponed the tender for a transmission project in the country's Caribbean region – the fifth delay for the procurement process.
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French energy company Engie has closed a R$2.51 billion ($485 million) loan with Brazilian development bank BNDES to finance the construction of its Novo Estado transmission line project.
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The Dominican Republic’s National Commission on Energy (CNE) has awarded concessions for 100 MW across two power projects and a transmission line in the country.
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Mexico's Business Coordinating Council has hit back at transmission fee hikes by state-owned utility Comisión Federal de Electricidad (CFE), describing the policy as “illegal and inadmissible” and "indefensible."
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Brazilian state-controlled Companhia Paranaense de Energia (Copel) has signed a R$432.1 million ($87.94 million) loan to finance a portfolio of operational and under-construction transmission lines.
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Mexico’s state-owned Comisión Federal de Electricidad (CFE) is planning a procurement process for a transmission project in the state of Baja California, adding to the country’s transmission pipeline.
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IDB Invest has announced a plan to certify certain transmission line projects as "green" in order to attract additional investment into the sector.
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Greenpeace and the Mexican Center for Environmental Law (CEMDA) have secured a temporary suspension of policies introduced by Mexican grid operator Cenace and the Secretariat of Energy (SENER) that threaten to delay the interconnection of renewable energy projects in the country.
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Colombian power distributor Electrificadora de Huila (Electrohuila) is preparing to begin construction on a 24.23-mile (39 km) transmission line in the southern state of Huila.
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Panama's state-owned transmission company Empresa de Transmisión Eléctrica (Etesa) must reevaluate its proposed Fourth Line project (Cuarta Línea) on the Atlantic coast, after the country's Public Services Authority (ASEP) rejected its latest proposal.
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Alaska Gasline Development Corp (AGDC) has won Federal Energy Regulatory Commission approval to construct and operate a natural gas treatment, transportation and liquefaction project crisscrossing virtually the length of the state of Alaska.
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Enel Green Power's distribution subsidiary in Chile, Enel Distribución, is negotiating a debt package with IDB Invest to ease its Covid-19-related liquidity problems.
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Colombia's Mines and Energy Planning Unit (UPME) has pushed back the procurement process for a transmission line in the country's Caribbean region by a month – it is the fourth delay since the coronavirus pandemic hit the country.
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Engie has signed loans with Brazilian development bank BNDES to finance the construction of two projects in Brazil, a wind farm and a transmission line.
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Colombia’s Mines and Energy Planning Unit (UPME) is plotting a tender for the development of battery storage units and several substations on the country’s Caribbean coast.
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Development finance institution IDB Invest is preparing a debt package for Naturgy Energy's distribution companies in Panama, which are facing liquidity problems as a result of the government's response to Covid-19.
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Brazil’s power regulator Aneel has approved the opening of a public consultation on bidding documents for a proposed auction of transmission line projects.
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Engie plans to invest some R$3 billion ($515 million) to build the 1,800 km Novo Estado transmission line in Brazil.
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Paraguay's Administración Nacional de Electricidad (ANDE) has received bids for the development of a substation project that already has financing in place from the European Investment Bank.
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Colombia's Mines and Energy Planning Unit (UPME) has delayed the procurement process for a transmission line in the country's Caribbean region for the third time since COVID-19 hit the country.
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Enel Green Power is moving forward with the transmission work for its first wind project in Colombia.
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Sempra Energy has completed the sale of its Peruvian assets to a Chinese buyer, bringing to an end to a process that began in January of 2019.
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Colombia’s Interconexión Eléctrica has requested regulatory approval for a transmission and substation project it won in a tender last year.
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Peruvian state agency Proinversión has launched a procurement process for the development of two substation and transmission projects in the country.
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Colombia’s Mines and Energy Planning Unit (UPME) has delayed the procurement process for a transmission line in the country’s Caribbean region for the second time in a month.
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Sempra Energy is nearing the close of the sale of its Peruvian assets to a Chinese buyer having received all required government authorizations.
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Mexico's state-owned Federal Electricity Commission (CFE) is structuring three tenders for transmission projects in the country.
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An American Electric Power subsidiary closed long-term financing for operating transmission projects across the central U.S.
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Colombia’s Mines and Energy Planning Unit (UPME) has pushed back by three weeks the procurement process for a transmission line in the country’s Caribbean region.
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One of the last remaining publicly-listed renewable energy yield companies in the U.S., NextEra Energy Partners, made a major fossil fuel investment last year when it acquired a stake in the 185-mile Central Penn gas pipeline in Pennsylvania for $1.37 billion. The financing included tightly priced term debt and a complex convertible equity deal.
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Mexico's Federal Electricity Commission (CFE) has quietly pushed back the procurement processes for combined-cycle gas-fired plants and a transmission line until the end of spring as a result of the Covid-19 pandemic.
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Colombia’s Celsia, owned by Grupo Argos, has announced it will not bid for Colombian power distributor Electricaribe in the auction on March 20.
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Colombia’s Celsia has won the contract to develop a substation and transmission project in the country, out-bidding two other Colombian powerhouses.
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Colombia’s Interconexión Eléctrica (ISA) has inked an agreement to acquire a Peruvian transmission company from I Squared Capital.
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Colombia’s Interconexión Eléctrica (ISA) has won the contract to build a transmission line in the country, after out-bidding four other companies.
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Brazilian generation and transmission company Alupar has mandated a commercial bank to structure a debt package for a transmission project in Colombia.
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Spain’s Naturgy Energy Group has announced it will invest €750 million ($843.2 million) in Panama’s electric distribution grid over the next ten years.
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Chile’s Grupo Transelec will develop the transmission line to connect a Mainstream Renewable Power 156 MW wind project to the grid, which is part of the second phase of the 1.3 GW Andes Renovables portfolio.
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Conelsur, a Peruvian transmission company owned by Chile’s Grupo Transelec, has acquired mining company Grupo Minero Buenaventura’s Peruvian transmission subsidiary Consorcio Energético de Huancavelica (Conenhua).
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Seven companies have presented bids for a transmission project in a procurement process arranged by Panama's state-owned transmission company Empresa de Transmisión Eléctrica (Etesa).
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Panama's state-owned transmission company Empresa de Transmisión Eléctrica (Etesa) is restructuring the tender for the country's Fourth Line (Cuarta Línea) on the Atlantic coast after the procurement process was suspended in May 2019.
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Chile’s National Electric Coordinator (NEC) has launched tenders for eleven new transmission projects in the country after awarding eight other projects to five companies ten days ago.
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Five companies have won contracts to develop eight new transmission projects in Chile, which bankers and institutional investors in New York are following carefully for financing opportunities.
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Argo Infrastructure Partners is preparing a project bond offering to finance upgrades to its Cross Sound Cable (CSC) transmission line.
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Canada Infrastructure Bank (CIB) has signed a memorandum of understanding with a handful of development partners for a proposed C$1.6 billion electric transmission and broadband project connecting Manitoba and the remote, northern province of Nunavut.
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Colombia’s Mines and Energy Planning Unit (UPME) has selected a consortium formed by a Spanish construction group and three local companies to develop transmission projects relating to nine substations in the Caribbean region of the country.
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Celeo Redes, through its subsidiary Casablanca Transmisora de Energía (CASTE), is moving forward with the permitting process for two transmission projects in Chile—one of which already has financing in place.
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Colombia's Mines and Energy Planning Unit (UPME) expects to select an investor to develop transmission projects relating to nine substations in Colombia's Caribbean region later this week.
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French developer Engie has won a 30-year concession to build a $831 million transmission project in Brazil.
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Mexico's Federal Electricity Commission (CFE) has awarded a transmission project in the state of Nuevo Leon to Colombian engineering firm Eléctricas de Medellín Ingeniería y Servicios (Edemsa), owned by Grupo Ethuss.
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Mexico's Federal Electricity Commission (CFE) is moving forward with several tenders for transmission projects under the country's Obra Pública Financiada (Financed Public Works) framework.
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Colombia’s Mines and Energy Planning Unit (UPME) has announced a tender for a sixth transmission project in the country’s Caribbean region.
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Colombia’s Mines and Energy Planning Unit (UPME) has announced a tender for a fifth transmission project in the country’s Caribbean region.
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Transmisora del Pacífico, a subsidiary of transmission company Grupo Transelec, has hired Spain's Abengoa as engineering, procurement and construction contractor for a substation that is part of a larger transmission line project in Chile.
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The Inter-American Development Bank (IDB) has inked a cooperation agreement with Interconexión Eléctrica Colombia Panamá, to develop a transmission project between the two countries.
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Corporación Andina de Fomento (CAF) has agreed to provide a $250 million loan for transmission projects in Paraguay.
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Transmission company Celeo Redes has locked in debt for 30 years—an unusually long tenor for Chilean project finance—to finance a three-project portfolio in the country.
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ArcLight Capital Partners has closed the sale of its lessor interest in a transmission line in central New York State, following a months-long process codenamed Project Lacrosse.
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Colombia’s Mines and Energy Planning Unit (UPME) has awarded the Guatapurí transmission project in the country’s Caribbean region to a consortium between a telecommunications company, an electric engineering firm and a construction contractor.
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Colombia’s Mines and Energy Planning Unit has announced the launch of a tender for an urgent transmission project in Colombia.
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Spain's Grupo Red Eléctrica and Colombia’s Grupo Energía Bogotá (GEB) have jointly acquired Brazilian electric transmission company Argo Energía.
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Colombia’s Mines and Energy Planning Unit (UPME) is about to award a transmission project in the country's Caribbean region, after receiving only one offer.
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Chile’s National Electric Coordinator (Sistema Eléctrico Nacional) has announced tenders for 52 transmission projects in the country.
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Colombia's Mines and Energy Planning Unit (UPME) has announced the launch of a third tender this week for a transmission project in the country's Caribbean region.
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Colombia’s Mines and Energy Planning Unit (UPME) has announced the launch of two tenders for transmission projects in Colombia.
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EDP is negotiating the financing of a transmission line project in Brazil that it acquired earlier this year.
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Spain’s Cobra Instalaciones y Servicios is set to develop three transmission projects in Peru, having been awarded contracts in a public tender by ProInversión, Peru’s state agency to promote private investment.
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EDP Brasil is preparing to contend the next auction for distribution lines in Brazil, which is scheduled for Dec. 19.
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Allianz Global Investors has provided a $727 million private placement to refinance a portion of bank debt associated with Cheniere Energy's Corpus Christi gas liquefaction and LNG export terminal in Texas.
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Chimarrão Transmissora de Energia has reached financial close on a R$2.24 billion ($546 million) transmission project in Brazil.
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GridLiance, the transmission company owned by Blackstone Energy Partners, has refinanced its Californian assets with revolving credit facilities arranged in a holdco-opco structure.
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Eletrobras has relaunched the process to sell minority positions in 39 special purpose vehicles that own wind assets with a total capacity of 842.5 MW as well as a transmission line project.
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Independent electric transmission company GridLiance has appointed a capital execution official who previously oversaw engineering and construction at power-focused private equity firm Panda Power Funds.
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One of Chile’s priorities for the energy sector in 2019 will be the construction of transmission lines linking the country to both Peru and Argentina.
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The Mexican ministry of energy, SENER, has cancelled an auction for the construction of the $1.1 billion Baja California transmission line project – also known as the Mexicali-Hermosillo Transmission line.
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The Latin American arm of Spain’s Red Eléctrica has bought the company that holds the concession contract for a 220 kV transmission line in Peru for an enterprise value of €181.36 million ($207.2 million).
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Eletrobras has privatised its largest distribution company, Amazonas Distribuidora, after a consortium comprising Oliveira Energia and Altem presented the only offer during the auction process on Dec. 10.
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LS Power has financed a pair of under-construction U.S. transmission projects with a combination of holding company and operating company debt.
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An unidentified party, rumored to be Canada's Algonquin Power & Utilities, has abandoned its effort to outbid Oncor Electric Delivery Company to acquire Texas utility InfraREIT.
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Power Finance & Risk is now accepting pitches for Deal of the Year as part of its 16th Annual Deals and Firms of the Year Awards, recognizing excellence in power asset M&A and project finance across the Americas.
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A high-voltage transmission line developer has signed a letter of interest with a potential anchor customer for a 1,000 MW project designed to deliver renewable energy from Upstate New York to Brooklyn.
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NextEra Energy has signed a deal to to acquire the Trans Bay Cable underwater transmission system in California from SteelRiver Infrastructure Fund North America and its partners.
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The rating on a R$1.2 billion ($320 million) bond issued in October to finance a transmission project in Brazil was boosted as a result of guarantees from the project's sponsors.
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Details have emerged about the approximately $1 billion portfolio of GE Energy Financial Services equity holdings which Apollo Global Management announced it would be acquiring last week (PFR, 10/8).
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A bank is financing the recently closed $65 million revolving credit facility for Blackstone’s independent transmission owner and operator GridLiance.
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Brad Nordholm is leaving Starwood Energy Group Global, the private equity business he used to run as ceo, to take up the position of chief executive at the Federal Agricultural Mortgage Corp., also known as Farmer Mac.
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GridLiance, the transmission company backed by Blackstone, is preparing to sign a $65 million revolving credit facility, its second senior secured debt financing, as it accumulates assets in line with its strategy to partner with cooperative and municipally-owned utilities on grid improvements.
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Starwood Energy Group Global and Ares-EIF have agreed to sell Hudson Transmission Partners, the joint venture they formed to develop and operate the Hudson Transmission Line, to a New York-based investment manager.
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Kinder Morgan has appointed an investment bank as financial adviser on a sale process for its remaining Canadian business, which could yield as much as C$2.4 billion ($1.8 billion).
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AltaGas is preparing to launch an initial public offering through which it will spin off some of its Canadian assets and utilities as part of the fundraising push for its acquisition of WGL Holdings.
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GridLiance, the independent transmission owner and operator backed by Blackstone, has signed a deal to acquire six transmission lines from a subsidiary of Vistra Energy.
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In the wake of this summer's California wildfires, Moody’s Investors Service has downgraded ratings on three west coast utilities, despite the passage of legislation that would allow them to pass some liabilities on to customers.
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British emerging markets investor Ashmore has signed an investment agreement with a consortium led by Peruvian conglomerate Graña y Montero to fund a transmission project in the Caribbean region of Colombia.
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Brazil’s largest generator, state-owned Eletrobras, has set minimum prices totaling R$3.1 billion ($790 million) for an upcoming auction of wind and transmission assets in the country.
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A Pattern Development wind project in New Mexico is set to sell its output to two community choice aggregators across two state lines in California, as part of the developer's plan to use the capacity of a 520-mile interstate transmission project.
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Clean Line Energy Partners has agreed to sell a 600 MW development-stage wind farm and other non-transmission-related projects as it focuses exclusively on its Grain Belt Express.
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A subsidiary of NextEra Energy is set to acquire 20 miles of 138 kV transmission lines from a municipal utility in Illinois following a yearlong, competitive sales process.
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The U.S. Department of Energy has asked lenders to submit applications for federal loan guarantees under an up-to-$2 billion program to support projects sponsored by Native American and Alaska Native communities.
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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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ITC Transmission has agreed to acquire a bundle of transmission lines and related assets in Michigan that, for historical reasons, are owned by Ford Motor Co., AK Steel Corp. and CMS Energy Corp.
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NextEra Energy is paying about $195 million for two gas-fired plants in Florida, representing about 1.22 GW of owned capacity, that have contracts due to be renewed in the next three-to-five years, as part of its recently signed $6.475 billion asset purchase from Southern Co. and its subsidiary Southern Power.
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Spain’s Iberdrola is ramping up its presence in Brazil after entering into a bidding war to purchase electric distribution company Eletropaulo and separately hammering out plans to invest the equivalent of $816 million in the country over the next five years.
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Clean Line Energy has sold its Western Spirit transmission project and an associated 1 GW wind project, both in New Mexico, to another developer.
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PFR is pleased to announce the winners of its 15th Annual Deals and Firms of the Year Awards, with added emphasis this year on the leading investment banks in power across the Americas.
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A New York-based boutique investment bank has hired an attorney with decades of experience in power and transmission as a senior adviser.
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FirstEnergy Corp. has priced a $450 million bond, the first to be issued by its Mid-Atlantic Interstate Transmission (MAIT) subsidiary, the proceeds of which will fund transmission investments this year.
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Ares-EIF and Starwood Energy Group Global are selling their majority stake in a transmission line that connects New Jersey with New York.
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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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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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There are a few days remaining to cast your votes for the best project sponsors, banks, law firms, institutional and tax equity investors and deals in PFR's 15th Annual Deals and Firms of the Year Awards.
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Proposals to sell transmission assets owned by the Tennessee Valley Authority and the Bonneville Power Administration have appeared in President Donald Trump’s budget for fiscal year 2019 and in his administration’s infrastructure plan.
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Bonds increased as a proportion of North American project finance deals in 2017 versus loans, as MUFG remained top in both categories, according to data from Dealogic.
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Sempra Energy’s proposed $18.8 billion acquisition of Energy Future Holdings Corp. took a step forward early this month as the last of ten intervenors named in Texas’ state regulatory approval process signed off on the deal.
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A northern partnership seeking to link Canadian hydro projects to the U.S. grid has emerged as the preferred bidder in a request for proposals in New England, as a Louisiana utility moves ahead with its plan to add more renewables to its fleet.
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Power Finance & Risk is accepting pitches for Deal of 2017 as part of its 15th Annual Deals and Firms of the Year Awards, recognizing excellence in power asset M&A and project finance across the Americas.
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A pair of Latin American power companies have brought dollar bonds to the market, with Mexico’s IEnova and Peru-based Inkia Energy raising $990 million between them.
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Mexico is due to hold its first tender process for a transmission line under the country's new contracting model next year, for the roughly $1.1 billion, 1.5 GW Baja California Sur-to-Sonora project, which is expected to be operational in the first quarter of 2021.
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Moody’s Investors Service has affirmed Brazilian power company Electrobras’ rating at Ba3 and bumped up the outlook from negative to stable, as the state-owned power company marches ahead with its plans to offload a wealth of assets, including 862 MW of wind projects.
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Whitehall & Co. has won a financial advisory mandate for the sale of a 349-mile subterranean transmission line project that would lie beneath existing railroads between MISO and PJM Interconnection in exchange for development-stage capital.
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Brazil’s Mines and Energy Ministry has cut nine transmission line licenses to Spain’s Abengoa after the Spanish company stopped construction work two years ago.
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Clean Line Energy Partners' proposed Grain Belt Express transmission line has faced a setback after Missouri state regulators vetoed the project.
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Sempra Energy has announced that it has agreed to acquire Energy Future Holdings Corp., the majority owner of Oncor Electric Delivery Co., trumping Berkshire Hatherway Energy’s offer to buy the company.
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Kenon Holdings has entered negotiations to sell its primarily Latin American generation subsidiary IC Power after being approached by several buyers.
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Italian transmission company Terna has signed $81 million in project finance loans to build a 500 kV project in Uruguay, in a deal that BBVA is claiming to be the first ever green loan in a project finance format.
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Moody’s Investors Service has assigned a rating to a $6.3 billion debtor-in-possession facility for Energy Future Holdings, amid a tussle over who will own its main asset—Oncor Electric Delivery Co.—should it emerge from bankruptcy.
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Berkshire Hathaway Energy’s acquisition of Oncor Electric Delivery Co. is moving forward, despite a counteroffer from Elliott Management Corp.
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The Texas Public Utilities Commission has rejected NextEra Energy’s request for a rehearing regarding its rejected bid to acquire Oncor Electric Delivery from Energy Future Holdings.
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The Public Utility Commission of Texas has blocked NextEra Energy’s attempt to acquire Oncor Electric Delivery Co., marking the second time in as many years that the commission has thwarted a sale of the transmission utility.
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A merchant bank and a boutique investment bank, each led by an experienced financier, have joined forces to form a new advisory firm focusing on natural resources, energy, power and utility infrastructure.
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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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State regulators in Texas have signaled that they will block NextEra Energy’s planned acquisition of Oncor Electric Delivery Co.
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Latin America-focused project finance bankers are readying themselves for the outcome of the bidding period for trunk transmission lines in Chile in April, with a huge response expected from sponsors.
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Argentina is planning a round of energy auctions this year, the country's energy minister said days after the World Bank approved a $480 million guarantee to promote private investment in the country’s renewable sector.
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Ontario Teachers’ Pension Plan will provide $2 billion for North American transmission projects through a recently established joint venture with Anbaric.
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A 200 MW power purchase agreement signed recently by the developer of a wind project in western Kansas is the first such contract intended to be serviced via Clean Line Energy Partners’s proposed Grain Belt Express transmission line.
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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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Chilean utility Transelec surprised project finance bankers this week when it awarded a roughly $93 million transmission project to a consortium that includes Spain’s Abengoa, which is in the midst of a debt restructuring process.
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The controversial 11 GW Belo Monte hydro project in Brazil’s Amazonian state of Pará has received an $826 million-equivalent financing to build the first of two transmission lines to siphon generation to the country’s South East.
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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 Renewable Project Finance Deal of the Year.
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Following a competitive nomination process and careful deliberation, PFR can now reveal the finalists for its 14th Annual Deal of the Year Awards.
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The most frequently asked questions regarding nominations for our Deal of the Year Awards.
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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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An $823 million debt financing backing Engie and Red Eléctrica de España’s Transmisora Eléctrica del Norte transmission line in Chile closed on Dec. 7 with the participation of an institutional investor.
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An institutional investor has joined the $823 million debt financing backing Engie and Red Eléctrica’s Transmisora Eléctrica del Norte transmission line in Chile that is expected to close imminently.
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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 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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NextEra Energy has agreed to acquire the remaining 20% stake in Oncor Electric Delivery Co. after agreeing to purchase 80% of the transmission utility earlier this year.
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The expected closing date of a loan to finance a 379-mile transmission line in Chile has been pushed back as negotiations over interest rate swap provisions continue.
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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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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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Enbridge Inc. will look to sell $2 billion of non-core assets over the next 12 months, following the announcement that it has agreed to merge with Spectra Energy Corp.
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A $739 million dual-currency debt financing backing a “landmark” transmission line connecting Chile’s two main grids could close as early as this month.
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Corporate bond issuances by Chilean transmission company Transelec and oil and gas master limited partnership EnLink Midstream Partners have been well received by investors eager to buy dollar-denominated assets amid uncertainty in Europe.
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The U.S. corporate bond market appears to be receptive to utility and mid-stream energy names that are lining up deals, after a quiet period triggered by the U.K.’s decision to leave the European Union.
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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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Michigan Electric Transmission Company, a subsidiary of ITC Holdings Corp., has issued a $200 million secured private placement to refinance an unsecured term loan due in 2018.
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GIC, Singapore’s sovereign wealth fund, has agreed to buy a stake in ITC Holdings Corp. from Fortis to support the Canadian utility's acquisition of the transmission company.
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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 panel of senior industry executives discussed the potential impact large transmission projects could have on U.S. renewables as they looked forward to a further decline in the cost of solar at the Bloomberg New Energy Finance summit in New York on April 4.
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The U.S. Department of Energy has approved Clean Line Energy’s $2.5 billion Plains & Eastern Clean Line transmission project.
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InterChile, a Chilean subsidiary of Colombia’s ISA, has sealed a $738 million credit facility to finance two transmission projects.
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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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Fortis Inc. plans to issue $2 billion in the U.S. public bond market to finance its $11.3 billion purchase of transmission company ITC Holdings. Fortis will also sell up to 19.9% of the acquired company to unnamed infrastructure-focused minority investors, the company announced on Feb. 9.
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Duke Energy has announced that it is considering a sale of all its assets in Latin America. The 4.4 GW portfolio includes projects in Brazil, Argentina, Chile, Guatemala, Peru, Ecuador, and El Salvador.
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Brookfield Infrastructure has agreed to sell a 348-mile transmission line in Ontario to Hydro One, a utility company which owns 96% of the province's transmission system.
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Clean Line Energy is talking to banks about raising between $2 billion to $2.5 billion for construction of its Plains & Eastern Clean Line transmission project from the Oklahoma Panhandle to Memphis, Tenn.
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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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Ridgewood Private Equity Partners has announced a $100 million investment in the Neptune Regional Transmission System, a 660 MW DC transmission cable connecting New Jersey and Long Island.
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Spanish company Abengoa has sought bankruptcy protection and is in talks with its creditors about restructuring its debts. Abengoa Yield, the sponsor’s yield company, which has assets in North and South America, is not immune to the problems faced by its parent company.
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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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Abengoa Yield announced a series of measures to distance itself from its embattled Spanish parent company Abengoa in its third quarter earnings call on Nov. 6. The yield company is seeking an additional sponsor, hiring a new cfo and plans to change its corporate identity.
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Hunt Consolidated has moved closer to financing its $800 million transmission project in New Mexico and southern Arizona after receiving two key regulatory approvals.
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Oncor Electric Delivery Co. has extended the maturity of its senior secured revolving credit facility by one year and reduced its maximum size.
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Over 4 GW of coal-fired generation in Texas will be retired under the Clean Power Plan, roughly one-quarter of the states’ coal capacity, according to a report published by the Electric Reliability Council of Texas on Friday.
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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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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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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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Abengoa Yield has more than tripled its revolving credit facility, following parent company Abengoa reduced its stake in the entity to less than 50%.
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Abengoa Yield has added a 114-mile transmission line between California and Arizona to its right of first offer list after a joint venture between Abengoa and Starwood Energy won the tender to construct it.
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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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SunEdison, which secured $360 million in financing for its 185 MW Bingham wind park, has able to overcome the intrinsic challenges involved in constructing a large-scale wind project in Maine.
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Yield companies are set to circumvent the challenge of new competition if the Master Limited Partnerships Parity Act, recently reintroduced by Delaware and Kansas senators Chris Coons and Jerry Moran, passes muster.
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The U.S. offshoot of Spain's Iberdrola is planning to launch a partial IPO once it completes its merger with Orange, Conn.-based United Illuminating Holding Co.
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Sempra Energy’s SoCalGas. is the fourth issuer to come to market in less than two weeks, ahead of an anticipated interest rate hike, with $600 million in a pair of first mortgage bonds.
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At least three large utilities are coming to market this week against the backdrop of an expected rise in short-term interest rates during the fourth quarter.
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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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An Argo Infrastructure Partners subsidiary has bought the Cross Sound Cable from an affiliate of Brookfield Infrastructure Partners.
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InterChile is expected to close an $800 million financing backing its transmission line project in Chile in the next few months.
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The Yieldco Sweep is an exclusive monthly feature that tracks the performance and activity of key yield companies in the power sector with illustrative graphics and market insight.
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Andrea Picott, managing director of loan sales and trading at Société Générale, has left the bank for Capital One in New York.
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Madrid-based Abengoa and Washington D.C.-based EIG are finalizing a deal to jointly invest $2.5 billion in a vehicle that will fund Abengoa’s contracted projects as they go into construction.
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Southern Company’s subsidiary Southern Power has acquired two of Tradewind Energy’s solar photovoltaic projects totaling 99 MW in Georgia.
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Advanced Power AG is planning to launch a financing backing the 1 GW Cricket Valley project in the Dover, N.Y., this summer.
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In the second installment of this PFR Exclusive, Andrew Platt, head of project finance Americas at BNP Paribas sits with Senior Reporter Olivia Feld to discuss the bank's take on deal flow in Latin America, and trends in M&A and LNG export facility financing.
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Calpine Corp. has appointed two staffers from EDP Renewables North America as the independent power producer considers growing its renewables activities.
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Dino Barajas, partner at Akin Gump Strauss Hauer & Feld, explores investor interest in Mexico's renewables sector and highlights related prospects and opportunities.
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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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Jay Worenklein, former partner and co-head of global projects at Akin Gump Strauss Hauer & Feld, has left the firm and launched US Grid Co., which is focusing on enhancing, developing and financing distribution systems.
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ATCO Group and Quanta Services will likely look to finance their $1.43 billion Fort McMurray transmission project in Alberta after it secures permitting at year-end. Royal Bank of Canada advised the pair on its bid for the 500 kV line.
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FirstEnergy transmission affiliate Trans-Allegheny Interstate Line Co. is issuing $550 million in 10.5-year notes via a private placement.
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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 @SaraReports and Senior Reporter @OliviaFeld.
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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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Utilities are contemplating real estate investment trusts for transmission assets, as a ruling from the U.S. Internal Revenue Service earlier this year further opens REITs to non-traditional sectors and potential candidates digest the structure.
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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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Several shops are mulling whether to form a yield company largely to compete with existing yieldcos on cost of capital--signaling the asset class’s evolution from a nascent to established market, said panelists at American Wind Energy Association’s Wind Energy Finance & Investment seminar in New York.
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The Yieldco Sweep is an exclusive monthly feature that tracks the performance and activity of key yield companies in the power sector with illustrative graphics and market insight.
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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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CAISO will hold a call on Wednesday for parties interested in bidding in its request for proposals for a $300 million, 115-mile 500 kV transmission line.
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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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LS Power has refinanced its Cross Texas Transmission subsidiary with a $265 million private bond issuance.
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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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Welcome to the premiere edition of the Yieldco Sweep, an exclusive monthly feature that will track the performance and activity of key yield companies in the power sector with illustrative graphics and market insight.
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CAISO is preparing to launch a request for proposals in August to find a developer for a recently approved 115-mile, 500 kW transmission line project that is slated to run from Arizona to California.
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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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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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Jeetu Balchandani, formerly MetLife’s head of lease, tax, infrastructure equity and tax credit investments, has joined BlackRock’s U.S. infrastructure debt team as the firm looks to boost its presence in the North America infrastructure space.
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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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Transmission Developers, Inc., a portfolio company of The Blackstone Group, is working to fast-track a $1.2 billion transmission line in Vermont that would bring hydropower from Canada into New England.
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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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Shortlisted bidders in Alberta’s request for proposals to develop and own the roughly 310-mile Fort McMurray transmission project in the province are in the market to hire financial advisors.
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Abengoa subsidiary Abengoa Transmission Sur has closed a $432 million 144A bond refinancing of the 500 kV transmission project in Peru.
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Abengoa has filed to take a portfolio of global power and transmission assets public in a NASDAQ-listed yield company.
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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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Harbinger Group has invested in Energy & Infrastructure Capital, a new platform that is looking to lend a range of debt to sectors, including power and midstream gas.
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Abengoa has mandated BNP Paribas and HSBC to lead a $412 million 144A senior secured note offering that will refinance subsidiary Abengoa Transmisión Sur’s Chilca Nueva-Marcona Nueva-Ocoña-Montalvo 2 transmission project in Peru.
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The Blackstone Group and Transmission Developers, sponsors of the $2.2 billion Champlain Hudson Power Express transmission project, are looking to secure a debt package backing the project by year-end.
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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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Competitive transmission projects are a key area of growth for utility holding companies looking to augment the regulated subsidiaries.
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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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Jim Schaefer, global head of power and renewable at UBS, along with two managing directors have left the firm for Blackstone Group.
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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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The undersea 200 MW transmission line proposed to link the Hawaii islands Maui and Oahu is slated to cost $702 million.
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Ohio state officials and labor leaders want FirstEnergy Corp. to sell a pair of coal-fired plants—including the 1,1710 MW Hatfield’s Ferry—rather than close them.
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EDF Renewable Energy has tapped Vestas for 80 MW of turbines for wind projects in the U.S.
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Desert Solar has relocated two solar projects totaling $70 million out of San Bernardino County, Calif., after local opposition to solar prompted the county to put a temporary moratorium on projects.
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Chilean transmission company Transelec, a subsidiary of Brookfield Asset Management, has closed a $150 million debt financing for a 220kV transmission line linking the Caserones mine in Chile to generation facilities.
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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 is in the final stages of preparation to go public in Canada and the U.S.
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In the post-crisis world, Bank of Tokyo Mitsubishi-UFJ has emerged as arguably the top shop for power financing.
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Entergy Corp. and ITC Holdings have received approval from the U.S. Federal Energy Regulatory Commission on the $1.78 billion deal for ITC to buy transmission assets from Entergy in a spin-off.
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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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Sumitomo Mitsui Banking Corp. has hired Carl Adams, head of structured finance at Banco Espirito Santo, as managing director and head of Latin America.
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Goldman Sachs is preparing a push into project finance and has hired Jean-Pierre Boudrias, director at Credit Suisse, to head the effort.
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The Medellin, Colombia-based Interconexión Eléctrica S.A. is looking to mandate a financial advisor for a potentially $1 billion transmission line project in Chile.
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The developers behind the Tres Amigas project in Clovis, N.M., that is designed to link three of the nation’s power grids are planning to ask the city on May 16 to issue a 30-year, $1.6 billion industrial revenue bond issue to finance the project.
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Duke-American Transmission Co., a joint venture between Duke Energy and American Transmission Co., has agreed to buy the Path 15 transmission line in California from Atlantic Power Corp.
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PJM approved more than $5 billion in transmission projects last year.
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CapX2020, a group of 11 utilities in Minnesota, will begin work this year on the first $1 billion phase of a $2.2 billion transmission project in the state.
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The Montana Senate rejected a bill that would have allowed homes and businesses to sell excess power from renewable renewable energy systems back to utilities.
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A proposed transmission line from Big Stone to Ellendale, N.D., will be discussed at a series of open house meetings next week in northeast South Dakota.
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The U.S. Federal Energy Regulatory Commission ruled that ITC Holdings could take a 50% ownership in a $324 million transmission line from Madison, Wis., to Dubuque, Iowa, instead of American Transmission Company.
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In this week's round-up: Chatter from an annual project finance confab on how banks only lent half of the funds available for power and energy projects in 2012 and Goldman Sach's power investment banking co-head in NYC prepares a move south.
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Atlantic Wind Connection, the consortium that includes Google and Marubeni behind a $6.31 billion offshore transmission project, will develop the first phase between New York City and Virginia.
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The U.S. Federal Energy Regulatory Commission’s Order 1000 from October will be a game changer will open up the ability of generation facilities to sell power into new markets, potentially increasing their value, attendees heard at a presentation at Infocast’s 5th annual Projects & Money conference 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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European lenders will likely increase participation in project finance deals due to the Basel Committee on Banking Supervision’s decision to delay and water down Basel III requirements, according to bankers and executives.
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Japanese banks took the lion’s share of lead arranger mandates in power and energy project finance deals in the Americas in 2012. The lenders accounted for four of the top 10 slots, for a combined $10.1 billion in deals, according to DeaLogic, a PI sister operation.
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The Valley Electric Association of Pahrump, Nev., has joined CAISO, the transmission grid operator of California.
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Northeast Utilities is nearing a proposal for a new route for a 1.2 GW transmission line that would carry power generated from the Northern Pass hydro project in Ontario to New England via New Hampshire.
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Project finance deal flow slowed to a trickle in the third quarter and bankers and utility executives gathered at the Edison Electric Institute's Financial Conference in Phoenix to discuss the changing fuel mix and other trends.
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In this week’s round-up: The high yield market softens as high volumes of paper sate investor appetite while Bank of Tokyo-Mitsubishi adds two and BlackRock NTR Renewable Power Fund edges close to a wind acquisition.
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National Grid will make a $40 million equity investment in Clean Line Energy Partners to help build out four transmission line projects that will transfer power from renewable projects across the country.
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Coal-fired plant shutdowns and resistance to nuclear-fired generation, against a backdrop of cheap natural gas, is pushing the industry toward a gas-heavy generation mix.
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Entergy Corp. has received final approvals from the Mississippi Public Service Commission and New Orleans City Council it need to join MISO.
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MidAmerican Energy Holdings will look to Wall Street to raise north of $1 billion in 2013, primarily in the bond market, for utility units and projects including the Topaz solar project and transmission development in Texas, Patrick Goodman, executive v.p. and cfo, said at EEI Financial Conference in Phoenix, Ariz.
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Emera is planning a series of transmission projects totaling $7.4 billion that will link the island of Newfoundland to the Canadian mainland in Labrador and Nova Scotia in a three-part transmission project that will ultimately connect to existing lines in Maine.
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Atlantic Power Corp. is shopping its Path 15 transmission line in California.
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The Nebraska Public Power District is planning to issue $250 million in tax-exempt bonds on Oct. 15 to finance transmission line upgrades and generation projects.
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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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Enbridge and a unit of NextEra Energy have formed a joint venture with Borealis Infrastructure to bid to develop the East-West Tie, a $600 million transmission project in Ontario.
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ERCOT has approved about $57 million of transmission projects and upgrades in West Texas that would increase capacity in an area congested from increased oil and gas exploration and production.
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The Los Angeles Department of Water and Power has received a green light for an 11.1% rate increase that will be used to procure more renewable power, energy efficiency programs and upgrades to distribution equipment.
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Entergy and ITC Holdings Corp. have filed with the U.S. Federal Regulatory Energy Commission for approval of the $1.78 billion sale of Entergy’s transmission assets to ITC.
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As the presidential campaign heats up, details of each candidate’s energy policies have emerged to shed light on potential impact on future energy investments and transactions.
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Traditional private placements and 144a deals are being targeted by sponsors as the bank loan market continues to strain under financial troubles in Europe.
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Tres Amigas, the company planning the $1.9 billion transmission hub in Clovis, N.M., is asking the city of Clovis to issue roughly $2 billion in industrial revenue bonds to fund the project.
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American Municipal Power is considering taking a stake in the $9.8 billion nuclear project proposed in South Carolina by Santee Cooper and South Carolina Electric & Gas Co.
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County commissioners in Kerr County, Texas, are expected to hear a resolution opposing a $360 million transmission line that was approved under the Competitive Renewable Energy Zones and is to be built and developed in 2013.
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Fortress Investment Group is trying to corral prospective investors into a planned energy mezzanine fund.
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Fortress Investment Group is trying to corral prospective investors into a planned energy mezzanine fund.
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State congressmen from upstate New York are opposed to the planned 330-mile Champlain-Hudson Power Express transmission line from Quebec to New York, saying that the line would increase foreign energy dependency and that it would cost jobs in the state.
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Transmission users are looking to clamp down on investor owned utilities’ return on equity in transmission projects, with four complaints filed with the U.S. Federal Energy Regulatory Commission.
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The number of assets up for sale in the second quarter, 32, is less than half the number put on the market in the first quarter of the year as the power market faces uncertainty from various angles including political, financial and demand.
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Babson Capital Management, with $142 billion in assets under management, is launching an energy finance group
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Cheniere Energy is finalizing roughly $3.4 billion in commitments for an A term loan backing its Sabine Pass gas liquefaction project in Sabine Pass, La., and has also nixed a $2 billion B loan package.
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Institutional investors in the capital markets are showing an increasing appetite for bonds backing project finance deals, financiers told attendees at 9th annual REFF-Wall Street conference in New York.
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Starwood Energy has tapped Barclays to sell its stake in Neptune, the New York transmission line.
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Clean Line Energy is looking to wrap a $50 million equity private placement this summer backing the development of several billion dollars of transmission lines.
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Ed Ludwig, a managing director at Dexia Global Structured Finance, has left the firm to start boutique advisory shop Merit Capital Advisors.
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Entergy has received approval from Louisiana regulators to put its transmission assets into the Midwest Independent Transmission System Operator, the first step toward selling its lines business to ITC Holdings.
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Electric Transmission Texas, a joint venture of American Electric Power and MidAmerican Energy Holdings, has awarded Quanta Services the exclusive right to negotiate the construction of 460 miles of new 345 kV transmission lines in West Texas’ Competitive Renewable Energy Zones.
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Chinese state utility State Grid Corp. is working on what is set to be the largest transmission project in the world.
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A proposed underwater transmission line off the Atlantic coast has received approval from the U.S. Bureau of Ocean Energy Management and the Department of the Interior.
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Regulators in Wisconsin have approved a proposed $202 million transmission line that will run through the western part of the state.
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Grid operator PJM Interconnection is planning to auction off transmission capacity in a sale that could be worth as much as $10 billion.
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The number of generation sales launched across all generation sources dropped 60% from 65 to 26 in the first quarter against the same period last year, according to exclusive data from Power Intelligence’s Generation Sale Database.
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There’s a lot of uncertainty floating around these days and the power project finance and M&A markets are not immune, especially when it comes to activity on Capitol Hill.
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Transmission operator Alstom Grid has announced that it will invest $7 million in upgrades to an Alaska transmission line.
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Several transmission financings wrapped in 2011, but Sharyland Utilities’ $727 million deal backing $1.04 billion in transmission lines in Texas stands out for its novel equity arrangement—a real estate investment trust as project sponsor.
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Lenders wrapped at least $3.54 billion in project financings in the first quarter, more than five times as much as the $745 million seen in the same period of 2011, according to PI’s Project Finance Deal Book.
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Dozens of bankers and investors jammed a theater in the basement of the Crosby Street Hotel in New York’s SoHo district on Wednesday for a screening of “Cape Spin,” the documentary that chronicles the plight of the proposed 468 MW Cape Wind project in Nantucket Sound.
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American Transmission Company is looking to expand transmission services around Green Bay, Wis.
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GE Energy Financial Services will auction 225 MW of bi-directional capacity from its existing Linden variable frequency transformer connecting the PJM Interconnection and New York Independent System Operator grids.
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GE Energy Financial Services is auctioning 225 MW of bi-directional transmission capacity from its Linden transmission facility at the intersection of New York City and PJM power grids.
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Transource Energy, the transmission project launched by Great Plains Energy and American Electric Power, is planning to develop two initial transmission projects worth $466 million.
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The mergers and acquisitions market has turned tepid as renewables, thermal and coal-fired assets are bogged down by uncertainty about federal energy policy, emission regulations and the grid as baseload plants go offline.
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American Electric Power and Great Plains Energy have launched a company that will develop and invest in transmission projects.
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Energy Capital Partners and Exelon are looking for opportunities to invest in, or buy, transmission projects, officials told attendees at Platts 27th Global Power Markets conference in Las Vegas.
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Duke Energy and Progress Energy have stated that they will spend $110 million on new transmission projects as a condition for approval of a merger between the two companies.
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PI was chock full of features and news on the industry’s biggest players in power M&A and project finance.
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Building offshore transmission substations to ship offshore wind power back to the grid would cost $652 million per platform, according to a study by ABB Power Systems Consulting for Dominion Virginia Power.
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New Hampshire Governor John Lynch has blocked the use of eminent domain from being used for a proposed transmission project between Canada and the U.S.
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Two environmental groups have given their support for a proposed transmission line that will run from Quebec to New York City.
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The Bonneville Power Administration has completed a transmission line that will more effectively incorporate wind generation into the Northwest Power Pool.
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PI’s annual awards recognize excellence in power project finance and M&A transactions by assessing deals in terms of innovation, size and hurdles cleared on the road to execution.
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A new shop wants to help developers raise capital or sell projects via an online platform which will match them with investors.
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Xcel Energy has proposed a transmission line to deliver power to northern Wisconsin and Michigan.
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ITC Great Plains, Sunflower Electric Power Corp. and Mid-Kansas Electric Company have expanded their partnership to include the development of transmission projects in Kansas.
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St. John’s, Newfoundland-based Fortis has agreed to buy Poughkeepsie, N.Y.-based utility holding company CH Energy Group for $1.5 billion—its second run at a U.S. utility in a year.
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Anbaric Transmission, an affiliate of the sponsors behind the Neptune and Hudson transmission projects, anticipates a four-year development period preceding financing for its proposed 80-100 mile transmission line from upstate New York to near West Point, N.Y.
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Rocky Mountain Power is planning to cut back its proposed transmission lines in Wyoming.
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A Vermont state committee is considering a plan to have the state take a controlling stake in its transmission grid.
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A decision by the Southwest Power Pool Board of Advisors will add two large-scale transmission lines to the Nebraska power grid.
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The board of directors of the Southwest Power Pool has approved proposed transmissions projects totaling $1.7 billion, including $300 million for new lines connecting to the Oklahoma grid.
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The market for new assets was in the doldrums during the last months of 2011—little more than two dozen generation facilities hit the market in the fourth quarter, a 60% drop from the same period in the prior year, according to exclusive data from PI’s Generation Sale Database.
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Power Intelligence hit the ground running after the holidays with a new look in our print issue, our Project Finance Quarterly Recap and coverage of key industry events in Toronto and New Orleans.
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Swiss electrical equipment developer, ABB, will pay $3.9 billion to acquire U.S. transmission equipment supplier Thomas & Betts Corp.
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The Alberta Electric System Operator will launch in July a call for transmission developers to build a 248-280 mile, 500 kV transmission project in Alberta.
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American Electric Power posted a $308 million fourth quarter profit, up from $176 million a year prior, on more wholesale power sales.
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Ener1, a rechargeable car battery manufacturer that received a $118.5 million grant from the U.S. Department of Energy, has filed for a prepackaged Chapter 11 bankruptcy that will cut its debt by half.
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Puget Sound Energy, Seattle City Light and Bonneville Power Administration have agreed to a developing six transmission projects totaling $140 million in the Puget Sound area.
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The New Hampshire state senate blocked the use of eminent domain in acquiring private land for the Northern Pass transmission system.
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Eight transmission service providers have been authorized to add 46 new transmission lines in the Competitive Renewable Energy Zones.
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Regulators in North Dakota have scheduled hearings for two proposed transmission projects in the state.
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Seventeen project finance deals wrapped in the fourth quarter, totaling $4.2 billion in debt, according to PI’s Project Finance Deal Book covering the Americas.
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North Western Energy and the Bonneville Power Administration are planning a potential collaboration on the Mountain States Transmission Intertie.
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Potomac Electric Power Co. has filed with the District of Columbia Public Service Commission to make reliability upgrades to its Buzzard Point station.
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This is last week for the public to submit comments to the Minnesota Public Utilities Commission on the proposed Hiawatha transmission line proposed by Xcel Energy in southern Minneapolis.
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At a meeting in Plymouth, N.H., Newt Gingrich opposes the proposed Northern Pass transmission project.
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Delmarva Power is rebuilding a transmission line to improve grid reliability and power supply in Maryland and Delaware.
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New York governor Andrew Cuomo has announced plans to upgrade the state’s transmission system, making it easier for power generated by upstate facilities to be moved down to the New York City area.
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Duke-American Transmission Co. announced that they have acquired the Zephyr Power transmission project from Pathfinder Renewable Wind Energy.
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Pattern Energy Group has received approvals from the U.S. Federal Energy Regulatory Commission for its Southern Cross transmission project.
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Long Island Power Authority has selected PSEG Long Island to manage its transmission system.
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The U.S. Department of the Interior has approved the construction of a proposed 10 mile transmission line in Southern California.
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CalPERS is lined up to buy ArcLight Capital Partners’ stake in the Neptune transmission line that runs from New York to New Jersey.
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Fluor Corp. has been selected to handle construction and engineering for the first phase of Clean Line Energy’s $3.5 billion transmission project.
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NextEra Energy Resources has reportedly wrapped a more than $300 million financing supporting 300 miles of transmission lines in West Texas.
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First Reserve has agreed to purchase four natural gas-fired facilities from an ArcLight Capital Partners portfolio.
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Ameren Transmission Company has announced plans to invest $1.3 billion in expansions for its transmission services over t 10 years.
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MISO approved 17 transmission projects yesterday including Xcel Energy’s $730 million, 230-mile Brookings line that would move wind generation from South Dakota and parts of Minnesota.
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Clean Line Energy Partners has tapped Lazard Capital to raise at least $50 million in a private placement to fund early development of $10 billion in transmission projects.
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ITC Holdings has agreed to buy all of Entergy’s transmission assets, about 15,700 miles, in a $1.775 billion transaction that expands ITC’s footprint from the Great Lakes to the Gulf Coast.
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Entergy Corp’s Arkansas utility is seeking to transfer control of transmission assets to the Midwest Independent Systems Operator.
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