Project Finance

  • Clearway Closes Community Solar Deal

    Jan 17, 2020 - Shravan Bhat

    Clearway Energy Group has closed debt and tax equity financing for a community solar portfolio spread across the U.S.
  • Geothermal Sponsor Plots Financing Following PPA Award

    Jan 17, 2020 - Shravan Bhat

    Australian geothermal project developer Controlled Thermal Resources is in the process of raising development capital following the award of a long-term utility power purchase agreement to its Hell’s Kitchen complex in California.
  • Alten Mandates Lenders for Mexican Solar

    Jan 17, 2020 - Carmen Arroyo

    Alten Energías Renovables has mandated a commercial bank and two development finance institutions for the financing of a 250 MW solar project in Mexico.
  • PPA Pulse: CCAs Sign Up for Geothermal

    Jan 17, 2020 - Stuart Wise, Carmen Arroyo

    Ormat Technologies has inked a pair of 10-year power purchase agreements with California community choice aggregators Silicon Valley Clean Energy and Monterey Bay Community Power for a geothermal project it is developing in the state.
  • Argentina Sees Double Wind Deal

    Jan 16, 2020 - Carmen Arroyo

    Two different wind projects in Argentina—one owned by YPF Luz and another by a Genneia-controlled subsidiary—have secured financing in separate transactions.
  • Sale Process Underway for Terra-Gen

    Jan 16, 2020 - Taryana Odayar

    Investors are considering placing bids for Terra-Gen, a renewables developer and owner with a portfolio of mostly older wind projects in California, after its owner, Energy Capital Partners, put it up for sale in December
  • Sol Systems Marches on with Latest Helios Financing

    Jan 16, 2020 - Shravan Bhat

    Helios Infrastructure Fund, owned by sponsors Sol Systems and Nationwide Mutual Insurance, has closed tax equity financing for a solar project in North Carolina.
  • PTC Curveball Upends Wind Project Qualification Plans

    Jan 16, 2020 - Richard Metcalf

    After working hard to qualify wind projects for the production tax credit ahead of its planned phase out at the end of last year, some developers spent the final days of 2019 frantically cancelling or rewriting contracts after the incentive was unexpectedly extended in a tax bill signed by President Donald Trump just before Christmas.
  • X-Elio Closes Loan For Mexican Solar

    Jan 16, 2020 - Carmen Arroyo

    Spanish developer X-Elio has secured a $39.4 million three-tranche debt package to finance the construction of a 70 MW solar plant in Mexico.
  • Longroad Finances Wind Repowerings

    Jan 15, 2020 - Shravan Bhat

    Longroad Energy Partners has sealed construction debt for two wind repowering projects in Minnesota.
  • Antin Seals Veolia Acquisition Financing

    Jan 15, 2020 - Taryana Odayar

    The deal that Antin Infrastructure Partners put in place to finance its $1.25 billion acquisition of Veolia’s District Energy Networks business reached financial close late last month.
  • C&I Solar Developer Refreshes Capital Stack

    Jan 14, 2020 - Shravan Bhat

    Commercial and industrial-scale solar developer Altus Power America has tapped affiliates of its private equity backer, The Blackstone Group, to replenish its funding sources with an $850 million three-tranche debt deal.
  • Swiss Re Inks Agency Agreement with kWh Analytics

    Jan 14, 2020 - Richard Metcalf

    Solar data and risk management firm kWh Analytics has signed an agency agreement with Swiss Re Corporate Solutions.
  • Mainstream Brings in DFI For Huemul and Copihue

    Jan 14, 2020 - Carmen Arroyo

    Mainstream Renewable Power is bringing in a multilateral institution for the financing of Huemul and Copihue, the second and third phases of its 1.3 GW Andes Renovables portfolio in Chile.
  • D.E. Shaw Draws ITC-based Wind Financing

    Jan 14, 2020 - Shravan Bhat

    D.E. Shaw Renewable Investments closed financing for a small wind farm in the Pacific Northwest late last year.
  • Sonnedix Closes Loan for Puerto Rico Solar

    Jan 14, 2020 - Carmen Arroyo

    Solar developer Sonnedix has reached financial close on a $15 million non-recourse loan for solar projects in Puerto Rico.
  • P. E. Firm Invests in LatAm-Focused Developer

    Jan 13, 2020 - Carmen Arroyo

    Private equity firm Denham Capital has announced a $250 million investment in Ceiba Energy, a Latin America-focused power project developer headquartered in Houston.
  • Mezz Deal Signals Change of Strategy for SunEnergy1

    Jan 13, 2020 - Shravan Bhat

    A North Carolina solar shop sealed mezzanine project financing early last month for two operating projects, using the funds to refocus its business model.
  • Ormat Inks Pair Of 10-Year Geothermal PPAs

    Jan 13, 2020 - Stuart Wise

    Ormat Technologies has inked a pair of 10-year power purchase agreements with California community choice aggregators Silicon Valley Clean Energy and Monterey Bay Community Power for a geothermal project it is developing in the state.
  • EDPR Inks Solar PPA in Brazil

    Jan 13, 2020 - Carmen Arroyo

    Madrid-headquartered EDP Renováveis has signed a 19-year power purchase agreement with a corporate offtaker for the output of a solar project in Brazil.
  • Colombia's Termocandelaria Taps 2029 Notes to Fund Plant Upgrade

    Jan 10, 2020 - Carmen Arroyo

    Colombia's Termocandelaria Power has tapped a series of unsecured bonds maturing in January 2029 for $186 million to finance the conversion of one of its gas-fired assets from open to combined-cycle.
  • Sunnova, Lightsource Close Safe Harbor Loans at Eleventh Hour

    Jan 10, 2020 - Taryana Odayar

    Many solar equipment safe harbor deals that were in the works since early 2019 reached financial close at the end of the year, including Sunnova and Lightsource BP which crossed the finish line at the last possible moment.
  • Fourth Delay for Uruguay’s Solar Tender

    Jan 10, 2020 - Carmen Arroyo

    Uruguay’s state-owned utility company Administración Nacional de Usinas y Transmisiones Eléctricas (UTE) has postponed for a fourth time the tender for a 65 MW solar project.
  • PPA Pulse: Strength in Diversity?

    Jan 10, 2020 - Stuart Wise

    Recent power purchase agreement announcements reflect the trend in renewable energy toward multiple contracts with a mix of corporate, community choice aggregator and municipal counterparties, while utility procurement is increasingly driven by large customers in more regulated markets.
  • PJM Sponsors Push On, Auction or No Auction

    Jan 09, 2020 - Shravan Bhat

    Developers of gas-fired projects in PJM Interconnection are forging ahead with financing plans for the first quarter of 2020, despite lingering uncertainty over the delayed capacity auction timetable and rules, while frustrated renewable energy developers have been forced back to the drawing board.
  • Fotowatio, Verano Plot Chilean Wind Project

    Jan 09, 2020 - Carmen Arroyo

    Energia Renovable Verano—a joint venture between Spain's Fotowatio Renewable Ventures and Chilean company Verano Capital—is developing a 198 MW wind project in Chile.
  • Banks Eye "Boring" Construction Loans for Mexico CCGTs

    Jan 09, 2020 - Carmen Arroyo

    A flurry of tenders for gas-fired projects in Mexico may be good news for construction contractors, but the prevailing state-ownership model means project finance bankers will be left to scrap over "boring" construction loans rather than meaty project finance mandates.
  • Dividend Sells Solar Loans to Institutional Investor

    Jan 09, 2020 - Richard Metcalf

    Residential solar lender Dividend Finance has sold a $200 million book of residential solar loans to an institutional investor.
  • Solar ABS Players See ITC Stepdown as Potential Boost

    Jan 09, 2020 - Jennifer Kang

    The gradual phase out of the solar investment tax credit is an expected but still disappointing development for the solar industry. Some, however, see the sunset as a boon for securitization, as it will do away with a complicated feature that has been a hurdle for issuers looking to market deals.
  • Google Seeks Approval for Nevada Solar-Plus-Storage Deal

    Jan 09, 2020 - Stuart Wise

    Google, through an affiliate called Lumen Group, has requested approval from the Nevada Public Utilities Commission for an energy supply agreement with NV Energy to power a new data center in Henderson, Nev., with solar energy and battery storage.
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