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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

Revolve Renewable Power Corp plans to advance its Vernal BESS project to the next stage of the study process in early 2023 based on analysis of the results for the first phase of a 2022 Cluster 2 study.
M&A
Duke Energy Sustainable Solutions has acquired the 100MW Wildflower Solar Project from Clearway Energy Group.
Spanish renewable developer Solarpack has landed financing for a pair of solar assets the company is planning in Colombia.
The Inter-American Development Bank (IDB) has agreed to finance a 544km transmission line between Ecuador and Peru.
Enerfin do Brasil has signed a public-private partnership with the government of Pernambuco for the development of solar generation in the Brazilian state.
Italian energy company Enel expects to exit Peru in 2023 according to its latest strategic plan, in a bid to reduce debt and finance new investments in other markets.
Atlas Renewable Energy has thrown the switch on its 300MW Mexican solar PV plant – La Pimienta in the state of Campeche – which is now fully operational.
CSI Energy Storage – a part of Canadian Solar’s majority-owned subsidiary CSI Solar Co – has been selected to provide up to 2.6 GWh of battery solutions for the build-out of energy storage projects managed by UBS Asset Management's Real Estate & Private Markets business in North America.
M&A
The Brazilian state of Paraná is planning for the potential privatization of its electric utility Copel.
HSBC has added to its power, renewables & infrastructure team with the hire of Georgios Kalpias.
M&A
NextEra Energy Partners – a limited partnership formed by NextEra Energy – has agreed to acquire a 49% equity interest in Emerald Breeze, a roughly 1.5GW renewables portfolio from subsidiaries of NextEra Energy Resources.
Vestas has received a 178MW order to power an undisclosed wind project in the US.
Horizonte Minerals has entered into long-term PPAs to secure low-cost renewable power for its fully-owned Araguaia Nickel Project in Brazil.
Brazilian renewable developer Casa dos Ventos has inked a power purchase agreement (PPA) with a fertilizer producer in Brazil.
PivotGen, a renewable energy development and repowering company, has appointed Lucas Michelini as vice president of finance.
Clearway Energy Group has signed a long-term PPA for the output of the Cedar Creek Wind Project to PacifiCorp.
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
Engie Energía Chile is planning to develop a new utility-scale wind project in the Antofagasta region.
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).