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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

M&A
A joint venture between Captona and South Jersey Industries (SJI), has purchased a solar-plus-storage facility in Massachusetts, marking the JV’s fourth acquisition since its founding.
Sphera Energy is expanding its utility-scale solar portfolio in Chile with a new solar project in the pipeline.
Enel Green Power has secured environmental approval, enabling its Pampa Norte 2 project to move forward.
Ranger Power has secured a pair of power purchase agreements for two of the company’s solar projects in Michigan, totaling 300 MW of generation.
Naturgy has started construction on a 300 MW solar project it is developing in Texas, making it the Spanish renewable developer’s first solar project in the country.
M&A
KKR & Co-owned Cretaceous Bidco is set to acquire London-based electricity generation company ContourGlobal.
Venture Global LNG and Malaysian state-owned oil and gas company Petronas have signed a 20-year sale and purchase agreement for 1 mpta of LNG.
Ecuador has registered interest from 37 companies for its ongoing renewables tender, with winners set to be announced in January 2023.
A former managing director from ICBC's project finance team has reemerged in a senior banking role at Investec.
Avenue Capital has struck a deal to refinance its 1.8 GW gas-fired asset portfolio, which comprises eight peaking plants and two gas-fired combined cycle plants spread across California.
Andes Solar has resubmitted two solar parks located in the Libertador General Bernardo O'Higgins region to Chile’s Environmental Evaluation Service.
Sempra Infrastructure has signed a heads of agreement (HOA) with Polish Oil & Gas Company (PGNiG) for the purchase of liquefied natural gas (LNG) from two of the company’s US terminals.
AES El Salvador is planning a $370 million refinancing which will see the company replace its 2023 bonds with a new senior debt facility.
NextEra Energy Resources has signed a virtual power purchase agreement (VPPA) with Ball Corporation for new wind energy to be developed in Texas.
Corporación Interamericana para el Financiamiento de Infraestructura (CIFI) has received a $25 million loan from the OPEC Fund for International Development.
Denham Capital has appointed Alberto Garcia as managing director of the investment firm’s sustainable infrastructure credit platform.
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
M&A
Axium Infrastructure has acquired Boston-based solar and energy storage developer BlueWave.
Australia’s Fortescue Future Industries (FFI) has entered into a binding exclusive agreement with the Industrial Park at Transalta (IPAT) to explore green hydrogen opportunities in the Pacific Northwest.
The mayor of Bogotá has announced plans to build Colombia’s first waste-to-energy plant, to be procured as a 30-year concession.
Brazilian transmission company Taesa (Transmissora Aliança de Energia Elétrica) has issued R$1.25 billion ($243 million) in green debentures to finance investments in 3 transmission concessions.
CIBC Capital Markets has hired Luisa Fuentes as managing director to head the bank’s energy transition and sustainable finance division, based out of New York.
The Carlyle Group has hired Avik Dey as co-head of Carlyle International Energy Partners (CIEP), effective this summer, as the group merges its energy and infrastructure units.
M&A
Infrastructure Investments Fund (IIF) has acquired the country's largest privately owned gas storage company, Enstor Gas, from ArcLight Capital Partners.
M&A
Equatorial Energia has sold its interest in the 332 MW Geramar oil-fired plant in Maranhão, marking the company’s final exit from thermal generation.
Terra-Gen has inked a power purchase agreement (PPA) with data center provider Digital Realty for a portion of its massive solar-plus-storage project.
Goldwind has completed a $270 million refinancing for a portfolio of five Argentine wind farms.
The US Department of the Interior has announced the winners in the Carolina Long Bay wind energy auction which attracted bids totalling $315 million.
A Talen Energy Corp (TEC) subsidiary has filed for Chapter 11 bankruptcy after reaching a deal to recapitalize $3.2 billion in debt with the energy company’s bondholders and a consortium of banks.
Marseille-based renewable developer CVE has filed for environmental approval for a solar project it is developing in Chile.
Spain’s Elecnor has begun the permitting process for a wind project located in the region of Los Lagos in Chile.
Orrick has hired David Aaronson as a partner in its energy & infrastructure group, based in the firm’s Houston office.
CleanCapital has secured a $200 million debt package to support the New York-based developer’s pipeline of distributed solar and energy storage projects.
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