Project Finance

  • Alterra Seals Hedge for Texas Wind Project

    May 26, 2017 - Richard Metcalf

    Alterra Power Corp. has signed a hedge agreement for a 200 MW Texas wind project and plans to close on the financing in the next few weeks.
  • Starbucks Takes First Sip of Tax Equity

    May 25, 2017 - Fotios Tsarouhis

    U.S. Bank has completed the syndication of a tax equity deal to a debut investor—Starbucks Corp.
  • Bank Trio Markets Loan for Contracted AES Portfolio

    May 25, 2017 - Richard Metcalf

    Three banks are leading on a roughly $2.2 billion debt package for a portfolio of gas-fired and battery storage projects that AES Corp. is developing in California.
  • Sponsors Face Tougher Debt Terms After Mixed PJM Auction Results

    May 24, 2017 - Richard Metcalf

    The results of the latest PJM Interconnection capacity auction, announced on May 23, could lead to more conservative lending terms for new-build gas-fired facilities in some regions.
  • SolarPack Secures Funding for Chilean Solar Expansion

    May 24, 2017 - Michael Turner

    Spain’s SolarPack has signed $104 million of syndicated and bilateral loans, partly to finance three solar projects in the Atacama desert in northern Chile.
  • LS Power Upsized Gridiron Loan

    May 24, 2017 - Richard Metcalf

    LS Power increased the size of the bank loan for a more-than-3 GW quasi-merchant gas-fired portfolio known as Gridiron Generating in response to strong demand, PFR has learned.
  • Moody’s Downgrades Lonestar Term Loan B

    May 23, 2017 - Richard Metcalf

    Moody’s Investors Service has lowered the credit rating of Lonestar Generation, a Blackstone portfolio company that owns a group of merchant gas-fired projects in Texas, but says that sales into Mexico are beginning to buoy the company’s finances.
  • NextDecade LNG Financing Takes Shape

    May 22, 2017 - Fotios Tsarouhis

    Details have begun to emerge of NextDecade’s plans to finance the Rio Grande LNG export project at the Port of Brownsville in Texas and its associated 137-mile Rio Bravo pipeline.
  • Details Emerge on Private Placement for Carlsbad

    May 19, 2017 - Richard Metcalf

    NRG Energy placed a $407 million private placement with a group of investors led by a large U.S. insurer as part of the financing for its Carlsbad Energy Center in California, PFR has learned.
  • PPA Pulse: Renewables Backlog Piles Up

    May 19, 2017 - Stuart Wise, Richard Metcalf

    A slow-down in renewables financing in the first half of this year has not stopped 1.3 GW of power purchase agreements from being signed across the U.S. in the last two months, adding to the project finance pipeline.
  • Carlyle Preps Bank Loan for Peaker Trio

    May 16, 2017 - Richard Metcalf

    The Carlyle Group has assigned lead arrangers for a debt financing backing its acquisition of a portfolio of gas-fired peakers from Rockland Capital.
  • BNY to Invest Tax Equity in EDP Wind Trio

    May 15, 2017 - Fotios Tsarouhis

    Bank of New York Mellon is investing tax equity in three U.S. wind projects that are being built by EDP Renewables North America.
  • Cheniere Returns to H.Y. Mart for Corpus Refi

    May 15, 2017 - Richard Metcalf

    Cheniere Energy has priced a $1.5 billion high yield bond to refinance debt associated with its Corpus Christi LNG facility in San Patricio County, Texas.
  • AES Plots Financing for $2.3B of Contracted Calif. Assets

    May 12, 2017 - Olivia Feld

    AES Corp. is seeking to finance two contracted brownfield gas-fired projects and a battery storage facility in Southern California with a combined construction cost of $2.3 billion.
  • Mexico Sets Out Rules for Third Renewables Auction

    May 11, 2017 - Michael Turner

    The Mexican government has published the bidding rules for its third renewable energy auction, which is due to take place in November this year.
  • Resi Solar Startup Nets $500 Million Loan

    May 10, 2017 - Fotios Tsarouhis

    Sunlight Financial, a residential solar loan provider, has obtained a $500 million loan from a California credit union.
  • Soltage Closes Equity Commitment

    May 05, 2017 - Fotios Tsarouhis

    Soltage has closed the second half of a $140 million equity investment from Basalt Infrastructure Partners to finance a 57 MW solar portfolio it is in the process of acquiring from Cypress Creek Renewables.
  • NextDecade Selects Banks for LNG Financing

    May 03, 2017 - Fotios Tsarouhis

    NextDecade has tapped Société Générale and Macquarie Capital as joint financial advisers on a debt and equity raise for its Rio Grande LNG export project at the Port of Brownsville, near Brownsville, Texas, and the associated 137-mile Rio Bravo Pipeline.
  • Pricing Flexes for Carlyle’s Nautilus Power

    May 01, 2017 - Richard Metcalf

    Pricing on the term loan B backing The Carlyle Group’s Nautilus Power portfolio, previously known as Essential Power, flexed up last week. The deal was priced on Friday.
  • Platts Vegas: Lender Nets Gas-fired Role Amid Pause in PJM

    Apr 28, 2017 - Olivia Feld

    A sponsor has assigned a lead arranger for a gas-fired project in PJM Interconnection, where project financing activity is paused in the run up to the upcoming capacity auction, attendees at the Platts Global Power Markets conference in Las Vegas told PFR.
  • Fitch Criteria Shake-up Could Mean Solar Project Upgrades

    Apr 27, 2017 - Richard Metcalf

    Fitch Ratings has revised the criteria it uses to assess renewable projects, which could lead to upgrades for several solar project financings.
  • Platts Vegas 2017: Consensus on Coal

    Apr 25, 2017 - Fotios Tsarouhis

    Opinions on the impact—or lack of impact—of shifts in government policy on coal-fired and renewable generation converged during the opening panel discussion of Platts Global Power Markets 2017.
  • Canadian Solar Bags Institutional Debt for N.C. Project

    Apr 25, 2017 - Richard Metcalf

    Canadian Solar has inked a tax equity bridge and term loan deal for a 73 MW solar project in North Carolina with an institutional investor.
  • Moody’s Flags Refinancing Risk for PJM Coal-fired Assets

    Apr 24, 2017 - Richard Metcalf

    Merchant coal-fired plants in PJM Interconnection are facing elevated refinancing risk as $3 billion of debt approaches its due date, according to a report issued by Moody’s Investors Service.
  • Wind Sponsor Seeks Approval for Goldman Sachs Tax Equity Investment

    Apr 21, 2017 - Fotios Tsarouhis

    Capital Power Corp. has applied for regulatory approval for a tax equity investment from Goldman Sachs in its 178 MW Bloom Wind Project in Kansas.
  • Homer City Project Exits Bankruptcy

    Apr 20, 2017 - Fotios Tsarouhis

    The owner of the Homer City 1,884 MW coal-fired project in Indiana County, Pa., has emerged from bankruptcy.
  • Q1 League Table: Renewables Lull Puts Quasi-merchant Lenders on Top

    Apr 20, 2017 - Richard Metcalf

    As uncertainty around tax reform in the U.S. contributed to a slowdown in renewables financings in the first quarter of the year, the busiest banks were those with an appetite for quasi-merchant gas-fired deals.
  • Enel Eschews Bank Market for Mexico Solar Project

    Apr 20, 2017 - Michael Turner

    Enel Green Power México has begun construction on the 238 MW Don José solar project in Guanajuato, Mexico, without obtaining project debt.
  • Generate Capital Seeks to be "Market Maker" in Storage

    Apr 20, 2017 - Olivia Feld

    San Francisco-based Generate Capital is deploying $250 million to finance standalone battery storage and solar-plus-storage projects as it seeks to shape the nascent market for the asset class.
  • NRG Preps Dual-tranche Debt for Carlsbad

    Apr 19, 2017 - Richard Metcalf

    Two banks are arranging a dual-tranche debt financing for NRG Energy's 632 MW Carlsbad Energy Center gas-fired project in California, deal watchers tell PFR.
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