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WEEKLY CARTOONS BY POWER FINANCE & RISK
ArcLight seals PSEG thermal acquisition
Rayburn securitization to cover Uri losses
Biden extends Trump-era solar tariffs

ArcLight seals acquisition financing for PSEG thermal portfolio

ArcLight Capital Partners has closed its acquisition of a 13-project, 6.75 GW portfolio of fossil fuel-fired assets spread across New Jersey, Maryland, Connecticut and New York from Public Service Enterprise Group (PSEG), after slotting into place two separate acquisition financing packages.

Rayburn seals $908m securitization to recover storm Uri losses

Rayburn Electric County Coop, a Texas-based electric generation and transmission cooperative that suffered massive losses due to winter storm Uri last February, has closed a $908 million securitization.

MOST READ STORIES

Lists: M&A; Proj Fin; People/firms | tweets
Latest stories (list q); More News (list four columns)

More News

Enel North America is set to build an industrial-scale production facility in the US for manufacturing solar photovoltaic (PV) modules, following the Inflation Reduction Act’s (IRA) incentives for domestic production.
France’s TotalEnergies has agreed to develop a wind project off the coast of the state of Rio de Janeiro in Brazil.
Priority Power Management, an energy optimization and infrastructure business backed by Oaktree Capital Management and Ara Partners, refinanced its existing debt and increased its credit facility from $85 million to $250 million.
Private equity behemoth Blackstone is preparing a $325 million credit facility for portfolio company Aypa Power.
M&A
Independent power generator Onward Energy is acquiring the Broad River power generation facility in Gaffney, South Carolina.
Brazilian power generator Eneva has received the greenlight from electric energy agency Aneel to start operations of its Parnaíba V power plant.
Ex-Macquarie Renewables chief executive, Bill Green, has raised more than $1 billion for his investment firm Climate Adaptive Infrastructure (CAI).
The Inter-American Development Bank and the World Bank have committed up to $750 million in green hydrogen financing in Chile. The pair signed an agreement with Chile’s economic development agency, Corfo.
Energy Impact Partners' EIP Deep Decarbonization Frontier Fund I LP (Frontier Fund) had closed with oversubscription at $485 million.
M&A
Strata Clean Energy, a provider of utility-scale clean energy projects, has acquired Phoenix-based Crossover Energy Partners, a clean energy solutions company experienced in developing end-to-end energy transition products for utilities and large energy users.
ArcLight-backed renewable developer Infinigen Renewables has secured financing for its renewable pipeline in Puerto Rico.
Brazilian power generator Eneva has appointed a new chief executive following the resignation of Pedro Zinner.
Energy provider AES Andes has agreed to bidirectional energy exchanges between Chile and Argentina through the InterAndes electrical interconnection line.
AES Corp.’s Chilean subsidiary, AES Andes, has signed a 17-year energy PPA with Compañía Minera Teck Quebrada Blanca, a subsidiary of Canadian miner Teck Resources, for the Quebrada Blanca Phase 2 copper project (QB2) in Chile.
M&A
BlackRock Alternatives, through a fund managed by its diversified infrastructure business, has agreed to acquire Jupiter Power – a leading operator and developer of stand-alone, utility-scale battery energy storage systems (BESS).
Spanish solar developer Enerside Energy has signed a 15-year PPA to supply 7.7 GWh/year of energy to Brazilian ethanol manufacturer and sugarcane exporter Raízen.
POWER FINANCE & RISK CASE STUDIES
Wind farm with the sun setting in the background
LOS GUZMANCITO, DOMINICAN REPUBLIC

As the Dominican Republic starts opening up to private investments in renewable energy projects under President Luis Abinader, local developer Grupo Energético 23 (GE23) managed to wrangle debt financing for its first such asset in the country this summer.
Chile marked with a flag on the map
CARDONES-POLPAICO, CHILE

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.
OTHER STORIES
Ecuador’s Ministry of Energy and Mines has received offers for about 700MW of new renewable energy projects for its upcoming auction.
The Dominican Republic’s National Energy Commission (CNE) has granted a pair of definitive concessions for energy projects on the island.
Ibitu Energia has secured financing for the Caldeirão Grande II solar project the company is developing in Brazil.
Linklaters has expanded its US practice with the hire of Ron Erlichman as partner and head of Energy and Infrastructure in the Americas.
Fervo Energy has signed a 15-year PPA to provide carbon-free geothermal power to a group of 9 California-based community choice aggregators (CCAs).
Solar technology manufacturer First Solar has promoted Elie David Villeda Orozco to head its Latin American activities, based out of Mexico.
Braskem, a Latin American petrochemical company, has signed a PPA and secured renewable energy certificates (RECs) as part of its carbon reduction goals.
Francis Slingsby has been appointed chief executive of Mayflower Wind – a JV between Shell New Energies US and Ocean Winds North America.
AES Corporation's clean energy business in the US has entered a $1.7 billion warehouse credit facility, which will advance the construction of 3GW of renewable energy projects across nine states.
EDP Renewables North America has hired renewable energy industry veteran Sybil Cioffi as director of finance.
M&A
Hull Street Energy has agreed to sell an almost 330MW portfolio of hydroelectric projects spread across the US to LS Power.
Enel has signed a massive power purchase agreement to supply data centers across Latin America.
M&A
ClearGen, a clean energy investor backed by private equity powerhouse Blackstone, has invested in a portfolio of partnership interests in 25 wind farms totaling 1.4GW of existing generation capacity throughout the US.
Renewable developer Atiaia Renováveis is partnering with glass manufacturer Vivix Vidros Planos on a solar project in Brazil.
Minnesota Power – the utility division of Allete Inc – has decided to significantly increase the amount of renewable energy it provides over the next 15 years after reaching an agreement with stakeholder groups, including clean energy organizations, labor and host communities.
Oya Renewables, the clean energy developer and independent power producer, has entered into a joint venture with energy company Oil Wells Shares (OWS) to develop and construct 3GW of community and utility-scale solar, wind and energy storage infrastructure projects.