Project Finance

  • PPA Pulse: Facebook Likes N.M. Renewables — Nike Nets Wind — Solar Deal Inked in Florida

    Jan 19, 2018 - Stuart Wise

    Facebook and Nike have been among the companies procuring renewables in the U.S. recently, while Origis Energy has lined up an offtaker for a solar project in Florida.
  • BAML to Invest in Duke Project After Initial Investment Falls Through

    Jan 19, 2018 - Fotios Tsarouhis

    Bank of America Merrill Lynch is replacing another financial institution as the tax equity investor in the 24.9 MW Shoreham Commons solar project on Long Island that Duke Renewable Energy is in the process of acquiring.
  • N.M. Utility Seeks OK for Facebook PPAs

    Jan 19, 2018 - Stuart Wise

    Public Service Co. of New Mexico has filed with the New Mexico Public Regulation Commission for approval of three long-term power purchase agreements, the costs of which it will recover through a special service contract with Facebook.
  • Nike Nets Texas Wind

    Jan 19, 2018 - Stuart Wise

    Footwear maker Nike has signed a power purchase agreement with Avangrid Renewables for 86 MW from the developer's 286 MW Karankawa wind project in Texas.
  • Projects & Money 2018: Pricing Squeezed Amid Intense Lender Competition

    Jan 19, 2018 - Richard Metcalf

    Loan pricing is grinding ever tighter amid tough competition and an unrelenting influx of lenders to the U.S. project finance market, said deal watchers at the Infocast Projects and Money conference in New Orleans this week.
  • Sponsor Markets Debt for Ohio CCGT

    Jan 18, 2018 - Richard Metcalf

    Advanced Power has begun marketing a loan to finance a quasi-merchant gas-fired project in Ohio, as deal watchers wonder how many more project finance deals for this kind of asset can be done in PJM Interconnection.
  • Curb Your Enthusiasm, Says Xcel

    Jan 18, 2018 - Shravan Bhat

    The euphoria that accompanied the record low $21/MWh wind-plus-storage bids Xcel Energy received in Colorado may be premature, says the utility.
  • Financial Institution Prepares to Enter Tax Equity Fray

    Jan 18, 2018 - Richard Metcalf

    A New York-based banking group is aiming to begin investing in renewable projects through tax equity deals, while established players are expected to tighten their belts in the wake of tax reform.
  • Arizona Utility Seeks Wind Project Bidders

    Jan 17, 2018 - Shravan Bhat

    Tucson Electric Power is due to open a request for proposals for between 100 MW and 150 MW of wind generation on Jan. 18.
  • Fotowatio Inks Mexico Solar Loan, Reveals Chile Plan

    Jan 17, 2018 - Michael Turner

    Fotowatio Renewable Ventures has sealed financing for a solar project in Mexico and announced a hybrid solar-and-wind project in Chile.
  • Origis Signs PPA for Sunshine State Solar Project

    Jan 17, 2018 - Stuart Wise

    Origis Energy has signed a power purchase agreement with the Reedy Creek Improvement District in Orange County, Fla., for the output of a 50 MW project known as FL Solar 5.
  • Quinbrook Asset Wins Debt, Tax Equity Commitment

    Jan 16, 2018 - Fotios Tsarouhis

    A fund managed by Quinbrook Infrastructure Partners has wrapped a debt and tax equity financing for a 200 MW wind project in Oklahoma.
  • IFC Finances Dominican Republic Wind Project

    Jan 16, 2018 - Shravan Bhat

    A consortium of development banks led by the International Finance Corp. is providing $80 million in financing for Akuo Energy’s 50 MW Pecasa Project in the Domincan Republic.
  • Coronal Seals Back-levered Deal for Solar at Florida Military Bases

    Jan 16, 2018 - Shravan Bhat

    Independent power producer Coronal Energy closed $235 million in tax equity and debt financing for its 120 MW Gulf Coast Solar Center portfolio in northwestern Florida.
  • Texas Hedgie Rounds Up Mezz Lenders for Panda

    Jan 16, 2018 - Richard Metcalf

    A Texas-based hedge fund is seeking to arrange mezzanine capital for Panda Power Funds, mainly to refinance existing capital associated with its fleet of gas-fired combined-cycle projects in PJM Interconnection, deal watchers tell PFR.
  • Details of DIF Ontario Solar Portfolio Refi Revealed

    Jan 12, 2018 - Shravan Bhat

    The senior debt refinancing that Natixis arranged for Dutch asset manager DIF in December was for three 10 MW projects and was priced relatively tightly, PFR has learned.
  • The Buzz: Interest in Solar Hedges Grows in ERCOT

    Jan 12, 2018 - Richard Metcalf

    Developers, bankers and other market participants are talking increasingly seriously about the prospect of solar projects in Texas obtaining debt financing on the basis of power hedges, even with a potentially detrimental trade case decision looming in Washington.
  • Lincoln Lines Up Financing for Texas Wind Asset

    Jan 11, 2018 - Fotios Tsarouhis

    Lincoln Clean Energy has lined up financing for a wind project it is developing in Lynn County, Texas.
  • Colombia Project Lands Rare Int'l Commercial Bank Loan

    Jan 09, 2018 - Michael Turner

    Empresas Públicas de Medellín has signed a $1 billion AB term loan package for its 2.4 GW Ituango hydro project in northern Colombia, in a rare example of international commercial banks joining a big-ticket deal in the country’s power sector.
  • Axium Closes Acquisition Financing for Ontario Solar Portfolio

    Jan 09, 2018 - Shravan Bhat

    Axium Infrastructure has raised a C$396.05 million ($318 million) fixed-rate term loan to finance its acquisition of an eight-project solar portfolio from TransCanada.
  • PPA Pulse: Brazil Auction Results — Texas Solar Record — SoCore D.G. Deal

    Jan 04, 2018 - Stuart Wise, Richard Metcalf

    Wind generation dominated the Brazilian A-6 power auction in December, with 49 projects totaling some 1.39 GW garnering power purchase agreements that come into force in 2023. A week earlier, solar projects won most of the contracts in the A-4 auction for projects due to be online in 2021. Small hydro, biomass and gas-fired projects also secured contracts.
  • CapDyn Lines Up Loans for California Flats

    Jan 04, 2018 - Shravan Bhat

    Capital Dynamics sealed construction financing for the second 150 MW phase of the 280 MW California Flats solar project in Monterey County, Calif., in December and is expected to sign another loan this week.
  • Natixis Arranges Refi for DIF Solar Portfolio in Canada

    Jan 03, 2018 - Shravan Bhat

    Dutch asset manager, DIF, secured C$184 million to refinance brownfield solar assets Canada last December. Natixis approached DIF with a deal consisting of short and long-term debt.
  • ECP Reprices, Adds to Wheelabrator Debt

    Jan 03, 2018 - Richard Metcalf

    Energy Capital Partners repriced $1.258 billion of term debt associated with its Wheelabrator Technologies waste-to-energy portfolio in December, adding a $125 million term loan C to the package and amending the change-of-control provisions in the process.
  • EDP Renewables Closes Tax Equity for Solar and Wind Assets

    Jan 02, 2018 - Shravan Bhat

    EDP Renewables North America has closed tax equity funds for a portfolio of solar projects in South Carolina and a bundle of wind assets spread across four states.
  • Greenbacker Lines Up Debt, Tax Equity for Calif. Solar Project

    Jan 02, 2018 - Stuart Wise

    Greenbacker Renewable Energy is in talks with a lender and a tax equity investor to finance a solar project it acquired from Solar Frontier Americas Holding late last month.
  • Pattern Seals Hybrid Financing for Henvey Inlet Wind Project

    Jan 02, 2018 - Shravan Bhat

    Pattern Development and co-sponsor Nigig Power Corp. secured a hybrid bank loan and private placement financing for the 300 MW Henvey Inlet wind project in Parry Sound County, Ontario, in late December.
  • N.Y. Green Bank Seeks Advisers, Arrangers for $1B Fund

    Dec 21, 2017 - Richard Metcalf, Shravan Bhat

    N.Y. Green Bank is set to begin receiving proposals for strategic advisory and capital arranger services on Jan. 2 as the state-owned institution plans to raise its first private capital fund and look for opportunities beyond the borders of New York state.
  • Three Delayed Peakers Add to ERCOT Reserve Margin Pressure

    Dec 21, 2017 - Richard Metcalf

    ERCOT recently had to dial down its reserve margin forecast for next summer in part because of delays at three gas-fired peaker projects in Texas, including one that has been hampered by a legal dispute and two others that feature battery storage.
  • Apollo Inks Mezzanine Deal for Chile Wind Portfolio

    Dec 21, 2017 - Richard Metcalf

    Apollo Global Management has signed a $50 million mezzanine deal for a 299 MW portfolio of under-construction wind projects in Chile.
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    Jan 19, 2018 - Power Finance & Risk

    Projects & Money 2018: Reporter’s Notebook

    Delegates traveling to Louisiana from frigid northern cities had their hopes of a respite from the cold dashed as temperatures in New Orleans hovered around freezing point for the duration of the conference this year.

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    Jan 12, 2018 - Shravan Bhat

    Church Razed for Coal Mine as Germany Cuts CO2 Targets

    These were not the optics Germany wanted in 2018. The St. Lambertus Catholic church in Immerath, west of Cologne, has been bulldozed to make way for an open-pit lignite mine.

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    Dec 15, 2017 - Power Finance & Risk

    #PowerTweets Dec. 15, 2017

    The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter.

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