• A regional U.S. bank is seeking to participate in its first syndicated debt financing for a utility-scale renewables project. “We’re speaking with Deutsche Bank,” a conference delegate tells PFR. The same bank is also aiming to get into tax equity within a rough six-month time-frame.
  • Overheard at the drinks reception on the eve of the conference: A developer has made good progress selling its Texas development portfolio, and has only four projects left. “We’re trying to get out of ERCOT.”
  • On the subject of the drinks reception itself, several delegates noted the lack of canapés and the limited selection of drinks. And no wonder—earlier in the day, the event website was inviting firms to ‘sponsor this opportunity’. 
  • The ceo of a utility-scale solar developer was particularly forthright in his evaluation of the aggressive bidding in the Mexican power auction earlier this year. “Suicide bombing” was how he described it, once his public relations people were safely out of earshot. “It’s impossible to make money."
  • A sponsor with a portfolio of three renewables assets with 15 and 20-year corporate PPAs is looking for debt, tax equity and cash equity financing, says an institutional investor on the sidelines of the conference. Pricing on the debt component was said to be a thin 175 basis points over Libor. The investor decided to pass on the project, but said it “will get done.”


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