Exchanges
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In this week’s Industry Current, Bernays ‘Buz’ Barclay, managing partner at Rimon P.C. and senior adviser to Marathon Capital, calls on the power industry to engage with blockchain technology.
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Pattern Energy has registered a $200 million at-the-market program to issue shares in small batches over time, as other yield companies mull similar schemes amid a stabilization in share prices in the sector.
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Lima-headquartered power producer IC Power has filed an F-1 form with the U.S. Securities and Exchange Commission for its initial public offering.
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SunEdison capped a busy two days in capital markets Tuesday morning by pricing $650 million of convertible preferred stock the day after announcing the creation of a fourth warehouse facility.
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SunEdison’s emerging market yield company launched its initial public offering and kicked off a roadshow for an $800 million green bond on Monday, both expected to be priced on July 30.
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First Solar and SunPower’s combined yieldco 8point3 Energy Partners plans to float 20 million Class A shares priced between $19 and $21 in IPO on Thursday.
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Toronto-based Goodwood is acquiring a minority stake in Reno, Nev.-based geothermal developer Ram Power Corp. for roughly $3.26 million.
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Solar, particularly distributed generation, continues to hold the market’s attention as investors look to get into the game ahead of the investment tax credit plunge in 2017.
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Institutional investors are increasingly looking to make direct investments in generation and gas-related infrastructure, according to panelists at Infocast’s 7th Annual Projects & Money conference in New Orleans.
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Developers are preparing to submit bids in the next few weeks for roughly $2 billion of gas pipelines in Texas and Mexico in tenders hosted by the Comisión Federal de Electricidad.
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The debt capital markets were flooded with power and utility paper this week, as issuers sent $1.85 billion in notes to bond buyers.
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Vivint is teeing up its initial public offering that is targeted to raise up to $370.8 million.
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Ares Capital Corp. has back-levered Competitive Power Ventures’ stake in the 725 MW St. Charles project in Waldorf, Md.
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Hannon Armstrong Sustainable Infrastructure is planning to issue additional shares and tap the securitization market as it looks to expand its portfolio and increase the company’s leverage.
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Dominion is on track to launch the initial public offering of Dominion Midstream Partners LP, its master limited partnership that will own a stake in the Cove Point liquefied natural gas export facility, later this quarter.
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A record number of entities participated in voting for Power Finance & Risk’s awards, recognizing excellence and innovation in the power project finance industry in 2013.
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SunEdison has filed with the U.S. Securities and Exchange Commission to take a 524 MW portfolio of solar assets public in a yieldco called TerraForm Power.
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AES Corp. has closed a $775 million floating rate note issuance after upsizing the deal from $500 million.
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NRG Yield is set to buy the El Segundo combined cycle facility in California from NRG Energy, the first of four possible deals between the two this year.
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Following the close of the Woodbridge financing, Competitive Power Ventures is looking to tighten the pricing on the bank loan backing the 725 MW St. Charles in Charles County, Md.
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Renewable project financing options beyond the expiration of the production and investment tax credits was the focus at Euromoney Energy Events Renewable Energy Finance Forum Wall Street at the Waldorf Astoria in New York this week.
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LS Power is trying to sell a 20 MW solar development project in California.
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Financiers and attorneys are weighing real estate investment trust structures that would open up the asset class, and its large pool of investors, to renewable generation without tripping up the U.S. Internal Revenue Service’s definitions of what types of property qualify for REIT investment.
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Canadian banks are targeting renewable energy projects for bond financings in the country.
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AES and Riverstone Holdings pulled the C$150 million ($148 million) initial public offering of Silver Ridge Power, née AES Solar, on the Toronto Stock Exchange over investor disquiet about the geographic makeup of the portfolio.
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Financiers and sponsors are trying to figure out how to develop a solar securitization structure that appeases tax equity investors concerns’ regarding subordination.
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Solar projects in Mexico will need more equity investments to push them forward, said panelists at Euromoney Seminars’ Renewable Energy Finance Forum-Latin America and Caribbean at the Four Seasons Hotel in Miami on Monday.
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Pan-American Hydro Corp., which is led by Jose Ordoñez, former head of the Latin America power group at Citigroup, is seeking $223 million in debt and equity to develop a pipeline of small-scale hydro projects in Guatemala and Mexico.
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A private letter ruling from the U.S. Internal Revenue Service is being seen as a green light to include sustainable and renewable energy assets in a novel mortgage real estate investment trust.
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Cheniere Energy is hunting a $3.2 billion bank financing supporting the $4.5-5 billion first phase of its liquefaction project in Sabine Pass, La.—almost $1 billion more than it had initially targeted.
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Atlantic Power Corp. looked to the bond and equity markets this week to raise funds for its $506.5 million purchase of 1.3 GW of biomass, gas-fired and hydro assets from Capital Power Income LP.
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Ruby Pipeline, a joint venture between El Paso Corp. and Global Infrastructure Partners, is looking to issue $1.075 billion in bonds as part of a larger refinancing of debt on the 680-mile interstate pipeline.
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Solar Millennium, a co-developer of a 1 GW solar project near Blythe, Calif., has decided to use photovoltaic panels for the first 500 MW phase of the project instead of the planned concentrated-solar technology.
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Contact Energy, a publicly traded company in New Zealand, is preparing a $280 million share sale to existing shareholders. Proceeds will help build the 166 MW Te Mihi plant on the country’s North Island.
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PPL Corp. will sell $750 million of equity units and 80 million common shares.
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Shenzhen Hanyuan Green Energy Resource Co., a Chinese venture run by three Asian firms, is targeting raising $30-100 million for five 50 MW biomass plants in developing countries.
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GA Group, a Chinese biomass venture that is planning to develop 250 MW of biomass projects in China is aiming to raise about $100 million by listing on London’s Alternative Investment Market in the coming months.
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