Loans

US-based Mammoth Energy subsidiary Cobra Acquisitions is to receive $188.4 million in settlement proceeds from the Puerto Rico Electric Power Authority (PREPA) and the Financial Oversight and Management Board for Puerto Rico (FOMB).

Renewables business Primary Energy has closed its $178 million platform refinancing led by Apterra Infrastructure Capital, PFR has learned.

Blackstone-owned energy storage business Aypa Power has closed its $650 million pre-notice to proceed development facility.

CenterPoint Energy subsidiary CenterPoint Energy Houston Electric (CPE Houston) has entered a $300 million term loan to cover damage from category 2 hurricane-like winds and tornadoes in Texas, PFR has learned.

Blackstone-owned energy storage business Aypa Power is set to close a $650 million pre-Notice to Proceed development facility, PFR has learned.

Renewables business Primary Energy has tapped Apterra Infrastructure Capital for the refinancing of its platform, PFR has learned.

Nexus PMG has made an investment in renewable fuels company Saola Energy.

SunPower has drawn $50 million from a loan made by its majority shareholder Sol Holding, which is owned jointly by TotalEnergies and Global Infrastructure Partners (GIP).

DLL, the Rabobank-owned asset finance company for equipment and technology, has partnered with Sunstone Credit to provide a loan platform for solar and battery storage assets.

QCells' residential solar financing platform EnFin has completed its first asset-backed securities (ABS) transaction totaling $252.86 million.

The US Department of Energy's Loan Programs Office (LPO) and UK Export Finance (UKEF) have signed a memorandum of understanding (MoU) for cooperation on joint financing for energy and green infrastructure projects.

Argentina’s Ministry of Energy and the Bank of the Argentine Nation (BNA) have finalized a line of credit for the implementation of distributed generation of renewable energy.

Australia and New Zealand Banking Group (ANZ) has issued a $280 million green loan facility to SK Battery America which will use the net proceeds to finance capital expenditure for an electric vehicle battery plant in the US.

Brazilian development bank BNDES has approved financing for French electricity producer Helexia, part of the Voltalia Group, to install solar projects across Brazil.

Brazilian development bank BNDES has granted UISA Geo Biogás an R$80 ($14.6m) million loan to construct an industrial unit producing biomethane and electricity from sugarcane residue.

Details have emerged on the acquisition financing that ArcLight Capital Partners slotted into place to finance its purchase of a 4.8 GW portfolio of thermal assets in New Jersey and Maryland.

Term sheet details have emerged on an equity and debt raise that is underway for a massive solar-plus-storage project in Nevada.

A private equity firm has closed an amend-and-extend deal on the project finance loan associated with its gas-fired project in Rhode Island.

CCE Holding is supporting its acquisition of a solar project in Chile and another in Italy with a financing package provided by Germany's Berenberg Bank.

Invenergy has closed construction financing for a 250 MW wind project in Illinois.

A Virginia-based energy company has wrapped acquisition financing for a portfolio of peaking power plants in Illinois.

Amp Energy has secured a $50.5 million construction debt package for a portfolio of solar projects in central New York state.

Lightsource bp has wrapped a $97.8 million construction debt package for an 80 MW portfolio of solar projects in Pennsylvania, and a $533 million package for a pair of solar projects in Louisiana and Arkansas.

Canadian renewables project developer Saturn Power has secured financing for a utility-scale solar project in Saskatchewan.

An InterEnergy-led consortium has clinched a senior secured term loan to finance the acquisition and construction of a Panamanian gas-fired power plant.

Lightsource bp has closed a $533 million construction financing package for a pair of solar projects totaling 480 MW (DC) in Arkansas and Louisiana.

Czech solar developer Solek has secured a $15.1 million loan to finance a portfolio of small-scale distributed solar projects in Chile.

Goldman Sachs Asset Management has arranged a A$346.33 million ($252 million) debt package for a portfolio of energy storage projects located in the US and Australia.

Oya Solar has secured construction and tax equity financing for a portfolio of community solar projects in New York state.

Lightsource bp has wrapped construction and tax equity financing for an 80 MW portfolio of solar projects in Pennsylvania.

Leeward Renewable Energy has secured debt and tax equity financing for a 54.4 MW wind repowering project in Illinois.

A private equity firm is arranging an amend-and-extend deal on the project finance loan associated with its gas-fired project in Rhode Island.

Invenergy has closed construction financing for a 104 MW wind farm in New York state which will form part of the renewable generation portfolio of the $11 billion Clean Path New York infrastructure project.

Irradiant Partners and Pine Gate Renewables have closed financing on a pair of solar projects totaling 40 MW in Michigan.

Toronto-based Polaris Infrastructure has secured debt to refinance an 82 MW geothermal asset in Nicaragua.

Lightsource bp has closed debt and tax equity financing for a 466 MW (DC) portfolio of solar projects in Indiana and Colorado.

Lightsource bp has secured $100 million in tax equity and project financing to support a solar project in Alabama.

Two international banks are nearing close on a bridge debt package for a roughly 200 MW gas-fired power plant in Colombia.

A consortium led by InterEnergy has reached financial close on a debt package that will finance a 656 MW LNG-to-power project in Panama.

Publicly listed-firm Engie Brasil Energia has inked a debt package for the first phase of a wind complex in the Brazilian state of Rio Grande do Norte.

A ProEnergy subsidiary has secured a project finance deal to support a 288 MW gas-fired peaking power plant in Texas.

Leeward Renewable Energy has clinched a $190 million debt package for a wind project that the company is constructing in Colorado.

Development finance institution IDB Invest is preparing a debt package that will fund the working capital needs of Belize’s utility Belize Electric Limited (BEL).

Intersect Power has closed a "bespoke" $2.6 billion financing which will support the construction and operation of a 2.2 GW (DC) portfolio of solar assets, along with 1.4 GWh of energy storage capacity in Texas and California.

A joint venture between D.E. Shaw Renewable Investments (DESRI) and Torch Clean Energy has acquired and financed a solar project in the Centennial State.

In a deal that came down to the wire, Ares Management Corp has closed the refinancing of Panda Power’s 778 MW combined-cycle, gas-fired Stonewall project in Virginia, which it is in the process of acquiring.

Plus Power, an independent battery energy storage developer, has closed a debt package for a standalone energy storage project in Hawaii.

Enel Green Power Peru has requested a debt package from a development finance institution to support the expansion of a 132 MW wind farm in the country.

A joint venture between Summit Ridge Energy (SRE) and Osaka Gas USA have clinched debt and tax equity financing for a community solar portfolio in Maine.

A debt and equity raise for a merchant gas-fired project in Queens, New York has been scuppered after the project's air permit was denied by state regulators.

Amp Energy, a Canadian renewables developer backed by The Carlyle Group, has secured construction financing for a community solar-plus-storage portfolio in New York state.

D.E. Shaw Renewable Investments (DESRI) has closed debt and tax equity financing for a 149 MW solar project in Michigan.

Cypress Creek Renewables has closed financing for a 270 MW solar project in Texas, the company's largest solar project yet.

Pine Gate Renewables has secured construction financing for a 69.89 MW solar project in North Carolina.

UK-based Soleco Energy is working with development finance institution IDB Invest on a debt package for a distributed generation solar portfolio in Jamaica.

Matrix Renewables, a portfolio company of private equity firm TPG, has clinched a debt package for an operating solar complex in Colombia.

Utility-scale solar developer Urban Grid has secured a $275 million debt package from Crayhill Capital Management to support the deployment of its US solar and energy storage platform.

Canadian renewables developer Grasshopper Energy, formerly known as Grasshopper Solar, has secured a $48 million debt package for a portfolio of solar-plus-storage projects in Massachusetts.

Lead arrangers have laid out the terms for the almost $2.4 billion construction debt package for the 800 MW Vineyard Wind project off the coast of Massachusetts, which was launched into syndication last week.

Clearway Energy has financed a 7.5 GW fleet of renewable power projects in the US with $775 million of corporate credit facilities arranged by a club of banks.

Colombian developer Axia Energia has refinanced an 88 MW dual-fuel reserve power plant in the country's Magdalena department.

A New York-headquartered developer has closed the refinancing of a combined-cycle gas-fired power plant in Pennsylvania.

France's TotalEnergies, formerly Total, has reached financial close on a debt package for a solar-plus-storage project in Texas.

Generadora Metropolitana Renewables, a joint venture between Andes Mining & Energy (AME) and France's EDF Renewables, has reached financial close on a solar and thermal project financing in Chile.

Three sponsors have secured debt financing from a development finance institution for a 54.5 MW solar asset with an adjacent energy storage facility in French Guiana.

Details have emerged on the debt package that D.E. Shaw Renewable Investments’ (DESRI's) secured to support the acquisition and construction of a solar-plus-storage project in New Mexico.

Uruguay’s state-owned National Administration of Power Plants and Electric Transmission (UTE) has secured financing for a 365 km (226.8-mile) transmission project in the country.

Pattern Energy and Nigig Power Corp have wrapped a C$1.2 billion ($0.94 billion) refinancing for their jointly owned 300 MW Henvey Inlet wind farm in Ontario.

The lead arrangers on the almost $2.4 billion construction debt package for the 800 MW Vineyard Wind project off the coast of Massachusetts have begun sounding out lenders to participate in syndication.

Ares Management Corp has kicked off the refinancing of Panda Power's 778 MW combined-cycle, gas-fired Stonewall plant in Virginia, which it is in the process of acquiring.

Altus Power has refinanced a $368 million senior funding facility, upsizing it by $135 million, and plans to use the proceeds to partially fund the acquisition of an operational solar portfolio from TrueGreen Capital Management.

London-based fund manager Sustainable Development Capital (SDC) is slotting debt financing into place to support its purchase of an additional stake in Primary Energy Recycling Corp, a portfolio of waste-heat-to-power and cogeneration projects supplying steel mills in the Midwest.

CarVal Investors has wrapped a $137.5 million debt package to support its US renewables portfolio.

Quinbrook Infrastructure Partners' portfolio company Scout Clean Energy has secured a $50 million letter of credit facility.

Owners of hedged renewable energy projects in Texas face an uphill battle as they plead for protection against foreclosure in court, if a recent ruling by a New York judge is anything to go by.

The final pricing on two recent power-sector term loan Bs landed inside initial price thoughts, indicating a healthy market for additional issuance.

German developer BayWa r.e. has signed a loan with the North American Development Bank for a utility-scale solar project in Texas.

Solar and battery storage developer Strata Solar has raised $150 million of flexible capital in a deal with Blackstone Credit ?and its affiliates.

Invenergy has closed the construction financing for its 999 MW Traverse Wind Energy Center, the last to be financed of the three projects that make up its 1,485 MW North Central Wind Energy portfolio in Oklahoma.

Czech solar developer Solek has signed an $85.25 million senior secured loan to finance a portfolio of small-scale projects in Chile known as PMGDs.

S&P Global Ratings has given the senior secured term loan B financing for I Squared Capital's take private of Atlantic Power Corp a rating of BB-.

I Squared Capital has launched a $405 million term loan B package as part of the financing of its $961 million acquisition of publicly-listed independent power producer Atlantic Power Corp.

I Squared Capital is approaching the market with a $405 million term loan B package as part of the financing of its $961 million acquisition of publicly-listed independent power producer Atlantic Power Corp.

Power Finance & Risk is pleased to announce that nominations are now open for its 18th Annual Deals and Firms of the Year Awards.

Deal watchers say the sudden bankruptcy filing of Brazos Electric Power Cooperative – which had previously enjoyed single-A credit ratings – could be the first of many in the wake of the recent winter storms in Texas.

In February, for the first time, Power Finance & Risk brought together representatives of the bank loan, private placement, term loan B and tax equity markets with a project sponsor to discuss the state of project finance, how they coped with the Covid-19 pandemic and what is in store for 2021.

As winter storms wallop Texas, leaving around four million people to wait out rolling blackouts and sending power prices skyrocketing, project finance professionals and investors are assessing the fallout for project-financed assets in the Lone Star State.

Canadian developer Potentia Renewables refinanced a two-phase solar project in the Dominican Republic toward the end of last year with debt from a local fund manager.

Invenergy sealed loans at the end of last year for the three large wind farms it is preparing to build in Oklahoma for American Electric Power utility companies.

Ares Management Corp has financed a contracted wind farm in Illinois that it acquired from a developer last year.

Clearway Energy Group has closed a $427 million construction loan for its 354 MW Mesquite Sky wind project in Texas.

Canadian developer Innergex Renewable Energy has closed on a construction loan and tax equity commitment for its 225 MW Griffin Trail wind project in northwest Texas.

The $860 million term loan B refinancing for a portfolio of gas-fired assets in Queens, New York, was priced and allocated on December 4.

Since entering the US market in 2019 with the acquisition of a pipeline of projects in California and Texas, SB Energy – the renewables division of SoftBank – has put together a string of project finance deals including a loan to finance late-stage development.

The Abu Dhabi Future Energy Co, also known as Masdar, is working on a holding company financing to lever up its portfolio of renewable energy assets in the US.

FirstEnergy Corp's lenders have signed waivers and amended the terms of its loans to cure compliance breaches stemming fromthe disclosure of a roughly $4 million payment in 2019 that was uncovered as part of an internal bribery investigation.

Vermont-based solar and energy storage developer Encore Renewable Energy has obtained a corporate loan to finance development activity.

Updated: Spruce Finance has acquired two portfolios of residential solar projects, including all of NRG Energy's remaining residential solar assets.

The apparently unstoppable trend of ever-tightening project finance margins finally hit the buffers in March 2020. But now, even as the pandemic continues to rage, the race to the bottom is back with a vengeance.

Clearway Energy has paid $43.5 million to buy its sponsor-developer, Clearway Energy Group, out of a 286 MW portfolio of distributed solar assets.

Details have emerged of a $209 million term loan package that was executed in September to refinance a portfolio of three operational solar projects.

Chicago-based developer Invenergy is aiming to close construction loans totaling $1.8 billion for three wind farms in Oklahoma by the end of the year.

Cypress Creek Renewables has closed an oversubscribed $200 million holdco loan to support its 1.6 GW operating utility-scale solar portfolio in the US.

Recent transactions in the US power and renewable energy sector lend credence to a recent report from Kroll Bond Rating Agency, which says that project finance borrowers and investors are exhibiting an increasing fondness for holding company debt.

Australian asset manager AMP Capital has confirmed that it has received a non-binding public takeover offer from Ares Management Corp.

With an unpredictable election looming, developers, financiers and would-be buyers of US renewable energy projects are carefully weighing the potential impact of a Joe Biden presidency as they try to reach decisions on M&A and financing transactions.

Skyline Renewables has acquired its first US solar asset – a 250 MW project in Texas that has been financed with construction debt from a group of five lenders.

DE Shaw Renewable Investments has broken ground on a pair of solar projects in Louisiana, having put in place a financing structure involving tax equity and back leverage.

The term loan B to refinance the Linden Cogeneration plant in New Jersey has been priced inside initial price talk after generating strong demand.

The term loan refinancing for the Linden Cogeneration project in New Jersey has been resized from $950 million to $1 billion in response to strong interest from investors during syndication.

OYA Solar has signed a $35 million loan to fund interconnection and construction costs for a portfolio of three community solar projects in New York state.

The owners of a cogeneration plant in New Jersey have appointed Jefferies as left lead on a term loan B refinancing to be launched later this week.

The Carlyle Group and EIG Global Energy Partners’ deal to take ownership of Panda Power Funds’ Patriot and Liberty combined-cycle gas-fired plants in Pennsylvania ended years of speculation about the fate of the two plants. But the story did not end there, as the buyers launched the acquisition financing into a market roiled by coronavirus.

The Delaware River Port Authority has signed a 20-year power purchase agreement with SunPower Corp for an estimated 22 MW from a mixture of roof-mounted solar panels and solar canopies over parking, storage and work areas.

Recurrent Energy has reached financial close on its contracted 144 MW Pflugerville solar project in Texas.

Senior project finance banker Ren Plastina has emerged in a new role at Crédit Industriel et Commercial in New York.

The debt financing for Recurrent Energy’s next solar project in Texas is expected to close in the following week or two.

Talen Energy Corp is preparing to hand over two gas-fired projects in the Northeast to senior creditor Beal Bank through a Chapter 11 restructuring.

As Pacific Gas & Electric’s bankruptcy proceedings appear to roll inexorably toward resolution, owners of power and renewable energy projects tied to the utility through power purchase agreements are beginning to indulge in pleasant thoughts of a return to normal for their project finance arrangements.

EIG Global Energy Partners has reached final close at $1.1 billion on its EIG Global Project Fund V (GPF V), well in excess of its $750 million target.

The lenders and tax equity investor have been revealed for a recently financed wind repowering project in California.

Innergex Renewable Energy has secured $221.3 million in debt and tax equity for a solar project in Ohio.

ArcLight Capital Partners has priced a $156 million debt package with a trio of banks to finance its recently closed acquisition of the 570 MW Griffith Energy gas-fired project in Mohave County, Arizona.

Power Finance & Risk is pleased to announce that nominations are now open for its 17th Annual Deals and Firms of the Year Awards.

The Japan Bank for International Cooperation (JBIC) has partially securitized a portfolio of project finance loans backed by North American energy infrastructure assets.

Commercial banks have begun providing loans to finance a handful of gas-fired peakers in Texas, especially in the Houston area, as developers look to capitalize on high peak summer power prices.

Engie’s subsidiary in Brazil has signed financing with development bank BNDES to fund several wind parks totaling 361.2 MW in the country.

Covid-19 may have put an end to the days of two-digit margins on construction loans, but while project finance bankers generally agree that pricing is set to widen, the question remains—by how much?

As debt pricing soars across the capital markets, project finance borrowers are obtaining indicative term sheets from lenders for transactions they aim to launch once the dust has settled.

KeyBanc Capital Markets doubled its North American power and renewable energy project finance business in 2019, overtaking MUFG as the most prolific arranger in the sector, according to the latest league table data from IJGlobal.

After months searching for an economic solution for its flagship project, Renova Energia has accepted a binding offer to finance phase A of the Alto Sertão III wind complex in Brazil.

Project finance officials are paying close attention to daily headlines as they feel their way through market turmoil and strive to move deals forward, despite headwinds caused by the Covid-19 crisis and oil price slump.

An affiliate of Algonquin Power & Utilities Corp. has sealed a loan with a quintet of banks to finance its roughly 490 MW Maverick Creek wind project in Texas.

Meridiam and Engie have reached financial close on the financing of a 50-year public-private partnership for the University of Iowa’s utility system.

Brazil’s Renova Energia has received a proposal to finance Phase A of of its 743 MW Alto Sertão III wind complex.

Clearway Energy Group has financed a solar project in California that is contracted with two community choice aggregators and a municipality.

Irish developer Mainstream Renewable Power has scheduled a lender meeting for this week for the next portion of its 1.3 GW Andes Renovables portfolio in Chile, known as Huemul. Two additional banks have joined the syndicate.

BayernLB is preparing to sell down a portion of a loan made to Greenbacker Renewable Energy for a portfolio of U.S. wind projects.

As Canadian refinancing momentum remains strong in 2020, Boralex is preparing to refinance a four-year-old wind project in Ontario.

IDB Invest has provided a $110 million loan to Banco Cooperativo Sicredi to promote access to financing for distributed generation solar projects in Brazil.

Fuel cell company Bloom Energy Corp. has informed investors that it will have to restate earnings going back to 2016, two years before its initial public offering.

Clearway Energy Group has closed a loan to finance its 160 MW Rattlesnake Flats wind project in Washington.

Canadian Solar has secured a R$225.2 million ($55 million) project finance loan from Brazilian regional development bank Banco do Nordeste do Brasil (BNB) for its 152.4 MW (DC) Lavras solar project.

Cubico Sustainable Investments has acquired and reached financial close on a contracted solar project in South Carolina.

Kineticor Resource Corp. has signed gas supply contracts for a 900 MW conbined-cycle gas-fired project it is financing in Alberta.

There has been plenty of activity in the term loan B market of late, as private equity-backed independent power producers renegotiated the terms of their debt or raised more to fund distributions to equity investors.

As lenders and borrowers prepare to say goodbye to Libor, also known as “the most important number in finance,” are project finance professionals ready? Taryana Odayar investigates.

Denham Capital’s Rio Energy is negotiating a financing for the expansion of its Serra da Babilonia wind complex in Brazil.

Shell, Pátria Investimentos and Mitsubishi Hitachi Power Systems will have the financing for their 565 MW Marlin Azul gas-fired power plant located in Brazil this week.

Stonepeak Infrastructure Partners has closed the refinancing of its 1.6 GW New England Power portfolio of dual-fuel peakers.

Eneva will issue R$600 million ($145 million) in debentures to fund part of the construction of the 117 MW Jaguatirica II combined-cycle gas-fired project, which the sponsor has developed according to its reservoir-to-wire business model.

While yield-hungry investors of all stripes are viewing distributed, small-scale solar companies ever more favorably, the founders and management of the target companies are finding that there are attractive alternatives to selling stakes in their businesses outright.

Cypress Creek has joined the ranks of solar project developers to have signed loans this year to finance the purchase of solar equipment with a view to qualifying it for the full investment tax credit.

A burst of renewable energy refinancings in the run-up to year-end is bolstering an otherwise slow 12 months in power and renewable energy project finance in Canada.

Innergex Renewable Energy is preparing to refinance for the second time a solar project in Ontario that has been online since 2012.

Public Service Co. of Oklahoma (PSO) has filed with the Oklahoma Corporation Commission for approval to purchase a 675 MW chunk of the 1,485 MW North Central Wind Energy project, the successor to Wind Catcher, in a build-transfer deal with Invenergy.

Bluearth Renewables is aiming to close a refinancing for a wind project in Ontario by the end of next week.

The lead arrangers on the $580 million debt package for Mainstream Renewable Power's 571 MW Condor wind and solar portfolio in Chile have funded the deal one month after signing.

In October, Power Finance & Risk brought together a group of project finance officials and a partner from Allen & Overy to discuss the latest opportunities and challenges in financing power and renewables across Latin America.

North Carolina-based developer Strata Solar is in talks with four banks to arrange an enlarged revolving credit facility.

After several months of negotiations to refinance a bank loan with a private placement, the owners of the Duqueco hydro complex in Chile canceled the bond sale at the last minute and opted for a renegotiation with the banks instead.

A round up of the rest of this week's project finance news from North America and Latin America.

NRG Energy has repaid about $95 million of debt associated with the Petra Nova carbon capture project at its WA Parish coal-fired plant in Houston and provided a $12 million letter of credit to cover debt reserve requirements.

EDP is negotiating the financing of a transmission line project in Brazil that it acquired earlier this year.

Engie has raised R$1.26 billion ($312 million) in debt to finance the first phase of its Umburanas wind complex in the Brazilian state of Bahia.

Mainstream Renewable Power is about to close on the financing for Condor, the first phase of its huge Andes Renovables wind and solar portfolio in Chile.

Brazilian power generation company Eneva has refinanced the debt associated with its 519 MW Parnaíba II Geração de Energia gas-fired project in the municipality of Santo Antonio Dos Lopes, Maranhao state.

A strong third quarter for Mizuho’s project finance team has propelled the Japanese bank up the North American power and renewables league tables, while Key Bank maintained its position at the head of the pack.

After hedge providers got burned earlier this year on deals for new-build gas-fired projects in PJM Interconnection, they are quoting revenue puts at pricing that no longer makes as much sense for CCGT developers, forcing them toward alternatives.

Residential solar finance company Sunrun is preparing a $312.4 million securitization deal backed by a portfolio of leases and power purchase agreements, marking the first time the issuer has tapped the ABS market twice in one year.

SunPower Corp. has signed a joint venture agreement with frequent collaborator Hannon Armstrong to safe harbor solar panels with a total capacity of 200 MW.

Engie Energía Chile has announced the beginning of construction on a trio of renewables projects as part of its plan to build a 1 GW portfolio of wind and solar assets in Chile.

Renewables yield company TerraForm Power has taken advantage of a sustained recovery of its stock price since the beginning of the year to raise $251 million through an underwritten public stock offering.

First-round bids are due next week for a pair of solar projects in California that Capital Dynamics recently put up for sale.

Asset manager Balam is in the market raising long-term financing for a 40 MW solar project that is under construction in Mexico.

Canadian Solar is structuring a debt package with two commercial banks for a 95 MW solar project in Aguascalientes, Mexico.

Fermaca has joined the ranks of gas pipeline owners that have reached an agreement with the Mexican government over changes to contracts.

About a half dozen loans intended to safe harbor equipment for grid-scale and residential U.S. solar projects for the investment tax credit are moving forward and at least one deal has closed, but the highly bespoke product is not suited to every developer, say deal watchers.

Toronto-based Northland Power has entered into an agreement to buy a 99.2% stake in Colombian utility Empresa de Energía de Boyacá (EBSA).

A $350 million refinancing of the 488 MW Birdsboro Power Plant in Pennsylvania closed on Sept. 9, pushing the maturity of the debt out four years beyond the length of its hedge.

Powertis has secured R$2.5 billion ($610 million) in financing from BNDES and BNB to develop four solar projects totaling 765 MW in Minas Gerais and São Paulo.

Private equity funds managed by BTG Pactual have refinanced a 150-mile 500 kV transmission line they own in Brazil's Bahia state with the issuance of infrastructure debentures.

Ecuador's Ministry of Energy and Non-renewable Natural Resources has started the selection process for the concession of two renewable energy projects.

Greengate Power Corp. plans to finance a 400 MW solar project in Alberta on a merchant basis, having received regulatory approval for it from the Alberta Utilities Commission.

Colombian generator Termoyopal has reached financial close on loans for the expansion of its five-unit gas-fired plant in the department of Casanare.

The margin on a loan secured by TerraForm Power to finance three portfolios of distributed solar projects totaling 137.7 MW has been revealed.

Residential solar installer Vivint Solar has refinanced an existing aggregation loan with a $325 million revolving warehouse facility provided by a group of five banks.

David Velasco Fischman has returned to the banking world, taking on the role of director of project finance for Chile and Peru at SMBC’s office in Santiago.

Arroyo Energy Investors has signed a $69.1 million debt financing for an up-to-70 MW portfolio of solar projects in Chile.

Calpine Corp. held a lender call this morning for a $550 million term loan B to refinance a chunk of its senior secured debt.

The three main credit rating agencies are viewing Southern California Edison Co. more favorably following the latest moves by the company and the California legislature to mitigate wildfire risk.

NextEra Energy Resources has signed a power purchase agreement for a 700 MW hybrid project including wind, solar and battery storage in Oklahoma.

Building materials company Holcim Argentina is among the offtakers that have signed power purchase agreements with power producer YPF Luz for generation from its 172 MW Los Teros Wind Farm.

ContourGlobal is raising financing for the acquisition of a 518 MW combined-heat-and-power portfolio in Mexico from North American petrochemical company Alpek.

Renova Energia has obtained a one-month extension of a bridge loan from BNDES in relation to the Alto Sertão III wind project in Brazil.

Venture Global LNG has secured $10 billion in financing commitments with 13 banks to construct and commission the Calcasieu Pass facility and the associated TransCameron pipeline.

Cubico Sustainable Investments has reached financial close on the 100 MW Huntley solar project in Orangeburg County, S.C.

Raphael Dumas, an experienced energy and infrastructure financier with a focus on Latin America, has started in a new job after leaving HSBC earlier this year.

A Mexican wind developer is in final negotiations with banks to finance a project in the country.

The identity of a third equity investor in Ares Management's 620 MW Hill Top combined-cycle gas-fired project in Greene County, Pa., has been disclosed.

Argentina's Central Puerto has closed a $76.1 million financing with the IFC for its 88 MW La Genoveva wind farm near Bahia Blanca in the southern part of Buenos Aires province.

EDP Renovaveis has closed a €150 million ($170.7 million) loan from the European Investment Bank to finance the development of renewables projects in Brazil and Mexico.

California community choice aggregator Clean Power Alliance has signed power purchase agreements totaling 275 MW with NextEra Energy Resources, Clearway Energy Group and Isabella Partners.

German bank LBBW and New Brunswick partnership Wisokolamson Energy have closed C$40.87 million ($31 million) in loans for the construction and operation of an 18 MW wind project.

As the window to finance quasi-merchant gas-fired projects in PJM Interconnection ahead of the August capacity auction begins to close, the sponsors behind three projects recently made headway on their debt and equity raising plans.

BlackRock has closed a $225 million refinancing for its 130 MW La Bufa wind farm in Mexico through a privately-placed bond.

Spain's Ibereólica Renovables has signed a $110.8 million financing for its Cabo Leones III wind project in the Atacama region of Chile.

Talen Energy, NextEra Energy Partners and Hannon Armstrong were among the high-yield borrowers to hit the capital markets in the last two weeks.

Sara Pirzada has left her role as managing director, loan capital markets, at Mizuho Securities.

Nevada's NV Energy has awarded 25-year power purchase agreements for about 1.2 GW of solar and 590 MW of battery storage capacity in the state to three developers.

Thomas Murray, the former head of infrastructure credit at Apollo Global Management and sometime head of energy and project finance at WestLB, has started in a new senior role at infrastructure fund manager I Squared Capital.

Commitments were due on June 21 for the $1.075 billion debt financing of the Guernsey combined-cycle gas-fired project in Ohio, which is already about twice subscribed.

Clearway Energy Group has lined up a tax equity investor and finalized the terms of an investment by its yield company in the Wildorado and Elbow Creek wind repowering projects in Texas.

Capital Dynamics has sold the residential solar portfolio it came to own last year as a result of its take-private of yield company 8point3 Energy Partners.

SunPower Corp. has signed a levered tax equity financing deal to fund its residential solar lease business.

Retail giant Target has signed power purchase agreements with ENGIE North America and Leeward Renewable Energy as it nears its goal of using renewable sources for its electricity needs by 2030.

Connor, Clark & Lunn Infrastructure has completed the acquisition of a majority stake in Bremner Trio Hydro Corp., the owner of two construction-stage, run-of-river hydro facilities near Harrison Lake in British Columbia, and closed C$197 million ($148 million) in construction debt financing.

Vivint Solar has signed a $360 million multi-party forward-flow agreement to finance roughly 95 MW to 100 MW of residential solar systems.

Cheniere Energy Partners closed $1.5 billion in senior secured loans with 29 lenders on May 29 to finance construction of train 6 of its Sabine Pass Liquefaction project in Cameron Parish, La.

JP Morgan’s Infrastructure Investments Fund (IIF) has signed a deal to acquire El Paso Electric and take it private, concluding a hotly contested auction process.

Andy Redinger and Daniel Brown, managing directors at KeyBanc Capital Markets, discuss residential solar finance, including the latest trends in M&A and the future of the sector.

Latin America Power has closed the refinancing of a 73 MW portfolio of hydro projects in Peru.

Green Street Power Partners has wrapped tax equity and long-term debt for a 17.5 MW community solar portfolio in Minnesota with commercial and industrial customers.

Vistra Energy's retail energy subsidiary, TXU Energy, has clinched a 10-year electric supply contract with the City of Dallas that it will fulfill at first with generation and renewable energy credits (RECs) from Innergex Renewable Energy's 352.8 MW Foard City Wind Farm.

Avangrid has secured a second power purchase agreement for a wind project it is developing in South Dakota.

French firm Neoen has reached financial close on two solar projects totaling 208 MW (DC) in Argentina, known collectively as Altiplano 200, that benefit from an export credit agency wrap.

Engie and EDP have signed a memorandum of understanding to create a co-controlled 50:50 offshore wind joint venture.

Geronimo Energy closed on construction financing for its 200 MW Crocker wind project in South Dakota in March, around the time that its acquisition by National Grid was announced.

Spain's Ibereolica is working with a commercial bank on the financing of a Chilean wind project in the Atacama region of Chile.

Associated Electric Cooperative has signed a power purchase agreement with Enel Green Power North America for the output of a wind project in Missouri.

Cypress Creek Renewables has reached financial close on a solar project in North Carolina that it is selling to Cubico Sustainable Investments.

Clearway Energy Group refinanced its 204 MW Tapestry wind project trio in April, increasing the portfolio’s leverage, pushing back the maturity of the debt and cutting the pricing.

TerraForm Power concluded the refinancing of two wind facilities in Uruguay on April 30.

TerraForm Power expects to close the latest in a series of project financings this month as part of the fundraising for its acquisition of Spain’s Saeta Yield.

One of Chile’s priorities for the energy sector in 2019 will be the construction of transmission lines linking the country to both Peru and Argentina.

Colombia’s Century Energy Corp. has requested $60 million in support loans from IDB Invest to help finance two run-of-river hydro projects in the country.

Mars has signed a 15-year power purchase agreement for 30% of the output of an operational 70 MW wind project in Mexico.

Innergex Renewable Energy has closed $290.9 million in project finance for its 327.6 MW Foard City wind project in Texas.

Spanish developer Grenergy has closed financing on two wind projects in Peru.

Indeck Energy reached financial close today on its $1 billion Niles Energy Center in Cass County, Mich., including floating and fixed-rate project finance debt.

Canadian Solar is gearing up for the disbursement of long-term financing for its 68 MW Aguascalientes Potencia 1 solar project in Mexico.

Tenaska has wrapped a $302 million project finance loan for a contracted wind project in Missouri with a syndicate of five banks.

Sempra Energy subsidiary IEnova is raising debt to finance four solar projects in Mexico totaling 376 MW.

A joint venture between Prumo Logistics, BP and Siemens is in talks with banks to finance the second unit of an LNG-to-power complex located in the Brazilian state of Rio de Janeiro.

Despite rumblings about overbuild in PJM Interconnection, developers are pushing ahead with new build gas-fired projects there, and lenders stand ready to finance them. The only thing missing, it seems, is equity.

An investment manager brought in two co-investors for an unusual unitranche financing of a brownfield gas-fired plant in Ohio earlier this year.

Two co-sponsors of a combined gas-fired and battery storage project in California sealed 18-year debt financing earlier this year.

A consortium comprising Prumo Logistics, BP and Siemens has reached financial close on the development, construction and operation of an LNG-to-power project located at Porto do Açu in the Brazilian state of Rio de Janeiro.

Argentina has signed contracts for two solar projects and a small-scale biogas-fired plant in Córdoba that were successful in the second round of its renewable energy program, RenovAr 2.

A joint venture led by Invenergy has signed an up-to-$350 million loan from the Overseas Private Investment Corp. for the construction of an LNG terminal and generation facility in El Salvador.

A California grower that recently announced the completion of the cannabis industry’s first commercial-scale solar facility has harsh words for project finance providers.

TerraForm Power has launched the refinancing of a 95 MW wind facility located in Uruguay.

France's Neoen has signed a project finance loan for its 375MW (DC) El Llano solar farm in the state of Aguascalientes, Mexico.

Ormat Technologies has signed a 25-year power purchase agreement with a California utility for the first new-build geothermal project to be built in CAISO territory in the last 30 years.

Investec has begun talks with prospective coordinating lead arrangers for the $1 billion debt financing of Caithness Energy’s 1,836 MW Guernsey Power Station gas-fired combined-cycle project in Ohio, which is said to have a “conservative” structure.

Atlas Renewable Energy has closed long-term financing for three solar farms totaling 300 MW (DC) in Brazil.

A developer has appointed a financial adviser and approached banks to discuss debt and tax equity options for a newly-acquired solar project in California.

PFR's Deal of the Year Awards are back, recognizing excellence in power project finance and M&A. Check out the shortlisted deals in the North America Conventional Power Project Finance category.

Having scoured the market for the most impressive and interesting deals of 2018, the editorial team has selected four deals in each of six categories and compiled detailed profiles of each deal, including some previously unpublished material.

PFR's Deal of the Year Awards are back, recognizing excellence in power project finance and M&A. Check out the shortlisted deals in the North America Renewable Energy Project Finance category.

PFR's Deal of the Year Awards are back, recognizing excellence in power project finance and M&A. Check out the shortlisted deals in the Latin America Project Finance category.

Techint has closed the refinancing of a 900 MW gas-fired plant with an unusual offtake structure in the Pesquería area of the State of Nuevo León, Mexico.

Panamanian state-owned transmission company Empresa de Transmisión Eléctrica (Etesa) has closed a debt financing with the Central American Bank for Economic Integration (CABEI).

Residential solar installer Sunrun is aiming to refinance a portion of "seasoned assets" by midyear as advance rates on rooftop-mounted arrays march upward and the cost of capital for such assets continues to decline.

Spain's Solarpack has reached financial close on its 123 MW La Granja Solar project in Chile’s Atacama Desert, in the Pozo Almonte region.

German developer WPD has issued an request for proposals to banks to raise financing for greenfield wind projects.

Guatemalan power distribution company Empresa Eléctrica de Guatemala (EEGSA) is set to issue requests for proposals in the run up to three auctions as part of the government's plan to expand generation capabilities.

Total Eren has reached financial close on the 50.4 MW Malaspina wind project in Argentina’s Southern region.

Following its initial public offering at the end of January, gas-to-power business New Fortress Energy is in the market with a term loan B to round-out its capital structure with additional debt.

Fortress Transportation and Infrastructure Investors has closed first and second lien loans to finance the construction of a 485 MW gas-fired project and related natural gas assets in Ohio.

7X Energy has signed a power purchase agreement for a 250 MW solar project in Texas.

Following its initial public offering at the end of January, gas-to-power business New Fortress Energy is in the market with a term loan B to round-out its capital structure with additional debt.

Axium Infrastructure has closed a multi-tranche refinancing of the senior debt associated with the 286 MW Brooklyn Navy Yard Cogeneration Partners dual-fuel project in New York, which it acquired last year from Ares-EIF.

Spain's Cobra has entered into an agreement with Brazilian group Bolognesi to acquire the 1.3 GW Rio Grande LNG-to-power project, on which development had previously stalled.

Voltalia has financed and begun construction on a wind project and associated transmission line in Brazil.

MUFG once again topped the full-year North America league table for 2018, as power and renewables project finance volumes dipped slightly versus 2017.

Vinson & Elkins has hired an attorney to focus on cross-border transactions in Latin America and Spain as a partner in its project finance practice.

Pacific Gas & Electric was able to tighten pricing on its $5.5 billion debtor-in-possession facilities in general syndication.

Canadian Solar and Brazilian local developer Lira Empreendimentos have raised financing for a portfolio of solar projects in Brazil, in the north-eastern state of Pernambuco.

CoBank’s Brian Goldstein, KeyBanc Capital Markets’ Andy Redinger and Morgan Stanley’s Michael Kumar joined PFR editor Richard Metcalf in January to review 2018 in power project finance and look ahead to 2019. Check out what they had to say.

Three developers have secured 20-year power purchase agreements for projects in Indiana totaling 802 MW as a result of Northern Indiana Public Service Co.'s latest request for proposals.

Spanish solar companies X-Elio and Cox Energy Solar are raising financing for a 100 MW solar project in Mexico.

New Energy Capital has reached final close on its second infrastructure credit fund at its hard cap.

NTE Energy has appointed two banks to arrange financing for its 475 MW Reidsville gas-fired project in Rockingham County, N.C.

Export Development Canada revealed an update to its climate change policy on Jan. 28 that will prohibit it from making any future investments linked to thermal coal-fired generation.

California-based solar developer 8minutenergy has begun talks with hedge providers and lenders as it lays the groundwork to finance a portfolio of projects in Texas.

Financing and liquidity proposals are due in the coming weeks in a process being run by an investment bank for Panda Power Funds.

Cementos Mexicanos (Cemex) and Pattern Development have reached financial close on their 30 MW San Matías wind project in Baja California, Mexico.

Competitive Power Ventures has priced the refinancing of its Woodbridge Energy Center, also known as CPV Shore, in a challenging term loan B market, prompting admiration and potentially encouraging others to launch their own deals in the New Year.

Canadian Solar has raised long-term debt for its 80 MW Cafayate solar project in Argentina.

Morgan Stanley Infrastructure Partners has closed the refinancing of its 805 MW Red Oak combined-cycle project in New Jersey.

The owners of a gas-fired combined-cycle project in Pennsylvania that began operations in November have mandated a bank to lead a refinancing of its debt in the term loan B market.

LS Power has financed a pair of under-construction U.S. transmission projects with a combination of holding company and operating company debt.

In October, PFR teamed up with Fitch Ratings and Orrick to host a candid discussion on the challenges and opportunities for financing America’s nascent offshore wind industry. Experts covered everything from debt pricing to offtake structures and the full report is in this week’s issue.

Iberdrola has reached financial close on the 220 MW Pier IV wind project in the Mexican state of Puebla, which is contracted under a power purchase agreement with Mexican brewery Grupo Modelo.

Fotowatio Renewable Ventures is nearing financial close on its 290 MW Potrero solar project in the Mexican state of Jalisco, which will sell its output entirely into wholesale markets.

The owners of the Woodbridge Energy Center, also known as CPV Shore, have launched a debt refinancing into the shaky term loan B market, where challengin conditions have recently prompted other borrowers to pull or delay deals.

The term loan B refinancing of the 869 MW Oregon Clean Energy Center in Ohio is understood to have been postponed until next year amid tough conditions in the leveraged finance market.

Investec has launched a $250 million debt facility into syndication to refinance Primary Energy Recycling Corp., a portfolio of behind-the-fence generation assets located at steel mills in Indiana.

Power Finance & Risk is now accepting pitches for Deal of the Year as part of its 16th Annual Deals and Firms of the Year Awards, recognizing excellence in power asset M&A and project finance across the Americas.

The acquisition finance package for Morgan Stanley Infrastructure Partners' acquisition of the Bayonne Energy Center in New Jersey closed on Nov. 21, having attracted some $1.5 billion in commitments.

A consortium of sponsors including Mitsubishi Hitachi Power Systems is in the market to raise financing for the 466 MW Vale Azul II combined-cycle project in Brazil.

A more-than-1.6 GW combined-cycle gas-fired project in Brazil, backed by Prumo Logística, BP and Siemens, is on the verge of sealing debt financing.

Moody’s Investors Service has downgraded the term loan associated with the Hunterstown gas-fired project in Pennsylvania in response to a plan by its private equity owner to pay itself a dividend with the proceeds of an additional debt raise.

Investment firm Vantage Infrastructure, which was known as Hastings Funds Management until a rebrand earlier this year, recently added to its debt team in New York as it seeks to capitalize on opportunities in the U.S.

Dominion Energy has closed a green private placement bond to finance a portfolio of 20 operational solar projects totaling 574 MW.

Argentine sponsor Petroquímica Comodoro Rivadavia has signed a $108 million financing from a pair of lenders for a 126 MW wind farm in the south of the country.

A Fortistar-led consortium is preparing to refinance a portfolio of behind-the-meter generation assets located at steel mills in Indiana.

Atlantic Power Corp. has returned to term loan B market right on cue, six months after the last time it cut the pricing on its debt.

Nick Pucius, one of the trio of bankers that established National Australia Bank’s New York energy and infrastructure team in 2015, has returned to Melbourne.

Morgan Stanley Infrastructure Partners was able to reverse-flex the pricing on a loan it is raising to finance its acquisition of the Bayonne Energy Center gas-fired combined-cycle facility in New Jersey.

(Updated with bookrunners) The co-sponsors behind a coal-fired project that serves several copper mines in Chile under various power purchase agreements are preparing a joint loan and bond market refinancing.

Banks have received invitations to participate in the refinancing of a New Jersey gas-fired project whose existing debt is in the form of a bond.

Enel Green Power has reached financial close on its 1.8 GW renewables portfolio in Mexico, selling equity to institutional investors and raising around $605 million of project debt, some two years after obtaining power purchase agreements and with some of the projects already online.

Blackstone has firmed up pricing on its incremental debt raise for the Frontera combined-cycle gas-fired plant in Mission, Texas, while increasing the size of the deal.

Sturdier power market fundamentals, coupled with an abundance of capital, have improved the refinancing prospects of merchant gas- and coal-fired projects in PJM Interconnection, according to a report from Moody’s Investors Service.

Infrastructure credit doyen Thomas Murray resigned from Apollo Global Management in September, PFR has learned.

Société Générale has made two lateral hires to its infrastructure project finance team at vice president level and is looking to round out the group with two associates, PFR has learned.

GridLiance, the transmission company backed by Blackstone, is preparing to sign a $65 million revolving credit facility, its second senior secured debt financing, as it accumulates assets in line with its strategy to partner with cooperative and municipally-owned utilities on grid improvements.

Having completed its move from GE Energy Financial Services to a new home at Starwood Property Trust, Denise Persau’s project finance team is looking forward to having a broader mandate, potentially investing up and down the capital structure and in non-energy infrastructure.

East West Bank, as sole lead arranger, has signed a construction-to-term loan for a solar project that is contracted under a Long Island Power Authority feed-in tariff power purchase agreement.

GE Energy Financial Services’ project debt team has transitioned to Starwood Property Trust with the closing of the latter’s acquisition of the GE Capital unit’s loan book.

A wave of West Coast utility downgrades in the wake of Californian wildfires, and despite the passage of legislation that would allow the companies to pass some liabilities on to customers, has trickled through to at least one publicly-rated project finance deal.

The banks underwriting Morgan Stanley Infrastructure Partners’ acquisition of the Bayonne Energy Center in New Jersey—the two initial coordinating leads plus three others—launched the acquisition loan into syndication on Sept. 12.

The Kentucky Municipal Energy Agency has selected a joint venture between two developers to build an 86 MW solar project in the state, following a highly competitive procurement process.

Prudential Capital Group has raised its first fund focusing on mezzanine capital investments in the energy sector, giving the firm $343 million to deploy in middle-market businesses in North America, including conventional power and renewables.

The banks arranging debt financing for Morgan Stanley Infrastructure Partners’ acquisition of the Bayonne Energy Center in New Jersey—the two initial coordinating leads plus three others—are preparing to launch the deal after the Jewish holiday this week.

Just as one robin (or, depending on your geographic location, swallow) doesn’t make a spring, two project finance CLOs (PF CLOs)—Bayfront Infrastructure and RIN—may not confidently mark the re-emergence of PF CLOs. They are, nevertheless, a positive and potentially significant development, writes Paul Forrester, Chicago-based partner at Mayer Brown.

Atlas Renewable Energy has inked an $88.5 million loan for a solar project in Mexico that it acquired from SunPower Corp. earlier this year.

Two banks are preparing to launch a debt financing in September to support Morgan Stanley Infrastructure Partners’ acquisition of the Bayonne Energy Center in New Jersey.

Home games of the Philadelphia Flyers and 76ers will be 100% wind powered under a contract signed recently by Comcast Spectacor, the owner of their home arena, the Wells Fargo Center.

A recent court decision relating to a wind project financing in 2010 has injected a dose of uncertainty into valuations used in renewable project deals, especially those involving investment tax credits.

Starwood Property Trust was looking to price a $300 million high yield bond on Wednesday to support the acquisition of GE Capital’s energy project finance business.

Vivint Solar was able to maximize the proceeds of its latest $327 million residential solar project financing by structurally subordinating Bank of America Merrill Lynch’s tax equity commitment to a tranche of senior secured, privately placed debt. [Updated with quotes, loan pricing and tenor]

GE Capital has found a buyer for its GE Energy Financial Services project finance debt business, including a team of employees. [Updated with acquisition finance details]

Nomura, the Japanese bank that hired former Deutsche Bank group head Vinod Mukani to lead a push into Americas infrastructure and power finance last year, has expanded its team with a series of hires in the last two months.

Jefferies has hired a senior banker from a bulge-bracket firm as it rebuilds its power and utilities investment banking team in New York.

After a slow first three months of the year, project finance activity picked up in the second quarter, propelling MUFG to the top spot of the North American power project loans and bonds league tables.

The U.S. Department of Energy has asked lenders to submit applications for federal loan guarantees under an up-to-$2 billion program to support projects sponsored by Native American and Alaska Native communities.

Acciona has unveiled the full four-bank line-up behind an 18-year project finance loan for a 317.5 MW solar project that it co-owns in Sonora, Mexico.

A subsidiary of German wind turbine maker Enercon has signed a $70 million 15-year commercial bank term loan for its 50 MW Cerro Grande Wind Farm.

The sustainability-linked loan pricing trend is gathering pace in the U.S., with renewables developer and utility holding company Avangrid becoming the latest corporation to agree to make the margin on its revolving credit facility dependent on environmental metrics.

Macquarie Capital has reached financial close on a 200 MW Texas wind project and announced the expansion of its Green Investment Group platform into North America.

In the third and final part of this exclusive interview, Nick Knapp, president of CohnReznick Capital, discusses co-advisory mandates, emerging areas of activity in renewables and the state of the project finance market with PFR reporter Fotios Tsarouhis.

In this week’s Industry Current, John J. Marciano III, partner, and Ramin Mohammad, associate, at Akin Gump in Washington, D.C., outline the implications of the Internal Revenue Service’s latest guidance in relation to the solar investment tax credit.

Goldman Sachs and residential solar finance firm Mosaic are preparing to jointly issue a new solar loan securitization.

Atlas Renewable Energy is planning to raise about $108 million through the issuance of senior and subordinated project bonds to refinance a pair of solar projects totaling 75 MW in Uruguay.

Argentina’s Genneia has signed a $141.6 million debt financing with German lenders for its 101.4 MW Pomona wind farm in Argentina.

The margins paid by Michigan utility company CMS Energy on two revolving credit facilities will, for the first time, be linked to its sustainability goals as a result of amendments signed on June 5.

The results of the recent PJM Interconnection capacity auction have excited many in the industry but should prompt a thoughtful pause, writes Louise Pesce, managing director at MUFG in Los Angeles, in this week’s Industry Current.

ING Capital's Tom Cantello is relocating from New York to San Francisco to set up a new office for the Dutch bank.

Lincoln Clean Energy has recruited a finance and corporate development professional who previously worked at Morgan Stanley and sat on the boards of wind platforms owned by the investment bank.

GE Energy Financial Services has mandated a pair of financial advisers to sell its project finance loan book as well as equity stakes in generation assets, PFR has learned.

Swiss private equity firm Capital Dynamics has added to its recently formed infrastructure credit team with a former debt originator at GE Energy Financial Services.

The Blackstone Group has appointed financial advisers to market a gas-fired project in Texas that was recently refinanced in the term loan B market.

The Carlyle Group has assigned a lead arranger to refinance a gas-fired project out of the term loan B market into the commercial bank market.

BNP Paribas has syndicated a bank market refinancing of a merchant gas-fired project in PJM Interconnection that is owned by Arclight Capital Partners.

Spanish developer Grenergy has reached financial close on its 24 MW Kosten wind farm in Argentina, with Germany’s KfW IPEX-Bank arranging a 15-year export credit agency-backed loan.

Higher-than-expected clearing prices in the latest PJM Interconnection capacity auction mean that several gas-fired projects that have been in the works for months will almost certainly be able to circle financing, deal watchers tell PFR.

PFR is pleased to announce the winners of its 15th Annual Deals and Firms of the Year Awards, with added emphasis this year on the leading investment banks in power across the Americas.

Moody’s Investors Service has assigned Marin Clean Energy what the rating agency says is the first credit rating for a community choice aggregator.

Innergex has lined up the purchase of a pair of hydro projects in Chile in partnership with local company Energía Llaima, marking the Canadian developer's first step into Latin America.

AES Gener has put the finishing touches to a restructuring agreement with the banks that are funding its troubled 531 MW Alto Maipo hydro project in Chile, and Fitch Ratings has bumped up the outlook on the company's debt as a result.

EDF Group has teamed up with Chile’s Andes Mining & Energy to buy 750 MW of flexible generation capacity in the Latin American country, with three-quarters of the price tag being financed with bank debt.

Ares-EIF is in late-stage discussions with a consortium of investors about the sale of a gas-fired project, PFR has learned.

Vistra Energy Corp. is planning to issue a term loan B and upsize its revolving credit facility to refinance debt it has inherited through its acquisition of Dynegy.

Brazil has received more than a thousand applications to participate in its next power auction, scheduled for Aug. 31, with wind projects making up the bulk of the submissions.

Lead arrangers are syndicating two separate project finance bank loans to finance the two existing units of the Canal Generating facility in Massachusetts and a third unit that is under construction.

Ormat Technologies has signed a $124.7 million project finance deal for a 35 MW geothermal project in Honduras.

Innergex Renewable Energy has signed a 12-year power purchase agreement with an energy company for a portion of the output of a 350 MW wind project in Texas.

Argentina will have to woo international institutional lenders if it is to succeed with its ambitious $150 billion infrastructure initiative, which includes $20 billion dedicated to energy spending over the next 17 years, according to Moody's Investors Service.

A greenfield 150 MW waste-to-energy plant near Mexico City is set to receive around $200 million-equivalent in long-term financing from the Inter-American Investment Corporation and IDB Invest.

Residential solar developer Sunrun has amended loans for its Hera and Neptune portfolio financing vehicles, more than doubling the size of the former, in a busy period of project finance activity for the company.

PFR has learned the identities of the financial advisers that have been lined up by the owners of a struggling combined-cycle gas-fired project in upstate New York and its creditors.

The owners of a combined-cycle gas-fired project in New York state have appointed a financial adviser ahead of a potential restructuring or sale.

Iberdrola has financed a trio of Mexican wind projects with a $400 million green loan from Banco Bilbao Vizcaya Argentaria, marking the arrival of the product championed by the Spanish bank in a new country.

The lenders that provided a $39.4 million ‘B’ loan to China’s Jinko Solar for its 80 MW San Juan solar project in Argentina included a Chinese bank and a unique international institution.

KeyBanc Capital Markets’ Cleveland-based project finance team has had its most successful first quarter since 2015, rising to the top of the North American power P.F. league table as lenders vied for deals.

A joint venture between Golar Power and Ebrasil has reached financial close on its 1,551 MW Porto de Sergipe I LNG-to-power project, securing $1.47 billion of non-recourse project debt.

China’s Jinko Solar has signed a $60.15 million funding package for an 80 MW solar project in Argentina, in a deal IDB Invest has described as the longest loan with commercial bank participation for a project linked to the country’s RenovAr program.

Société Générale has built a huge order book for a roughly $6 billion term loan transaction backing Cheniere Energy’s Corpus Christi gas liquefaction project in Texas.

Banks are pitching for lead roles on a $2 billion debt financing for Invenergy’s 2 GW Wind Catcher wind project in Oklahoma, as the developer looks to get tight pricing on the two-year deal.

While margins on U.S. project finance loans continue to be squeezed, lenders are still looking to enter or return to the market, given a lack of alternatives elsewhere, deal watchers told PFR on the sidelines of the Platts Global Power Markets conference in Las Vegas this week.

Ares-EIF has hired a pair of banks to market a term loan B to refinance a combined-cycle cogeneration project in Texas.

Georgia Renewable Power has selected a turbine supplier and an operations and maintenance contractor for a trio of biomass projects it financed with credit fund debt at the end of last year.

Rockland Capital has signed a $170 million term loan with a club of banks to finance its acquisition of six peakers from AES Corp. subsidiary Dayton Power and Light.

Mizuho has added a director to its Americas project finance team in New York.

Sumitomo Mitsui Banking Corp. was sole structurer and bookrunner on a $142 million debt financing for a rural electrification program in Peru that recently closed.

Ares-EIF is refinancing about $450 million of debt associated with its 700 MW St. Joseph Energy Center gas-fired project in Indiana in the term loan B market, a move which could free up billions of dollars on commercial bank balance sheets if it is widely replicated.

AES Corp. is looking to reprice its $520 million senior secured term loan B to bring it into line with conditions in the market, as NRG Energy did earlier this month.

Starwood Energy Group Global placed part of the debt financing for its acquisition of a contracted coal-fired portfolio that closed earlier this year with affiliated real estate investment trust Starwood Property Trust.

Morgan Stanley is in the market with a term loan B offering to finance Platinum Equity’s acquisition of the 810 MW Hunterstown gas-fired project in Pennsylvania from GenOn Energy.

NRG Energy has repriced its senior secured term loan B, cutting the margin on the loan by 50 basis points and reducing the Libor floor to 0%.

Five commercial banks have inked a R$477 million ($144 million) letter of credit to backstop a project finance loan for a solar project in Brazil.

Mizuho has provided an $80 million loan package to refinance a contracted gas-fired project in California.

A private equity firm is refinancing about $400 million of debt associated with a gas-fired project in PJM Interconnection in the term loan B market, a move which could free up billions of dollars on commercial bank balance sheets if it is widely replicated.

Pattern Development has obtained a construction loan, letter of credit facility and tax equity commitment for its Stillwater Wind project in Montana, which was previously known as Vivaldi Springtime.

Cheniere Energy has held a lender meeting with a view to increasing the size of a loan for its Corpus Christi gas liquefaction project in Texas to $6 billion.

There are a few days remaining to cast your votes for the best project sponsors, banks, law firms, institutional and tax equity investors and deals in PFR's 15th Annual Deals and Firms of the Year Awards.

Lightsource BP has requested debt and tax equity financing proposals for its first U.S. solar project, after announcing a strategic partnership with BP in December.

A mezzanine capital investor in two Panda Power Funds combined-cycle gas-fired projects in PJM Interconnection has hired a financial adviser to sell its preferred notes.

Canadian miner Kinross Gold Corp is planning to raise around $200 million of debt to part-finance its acquisition of two hydro plants in Brazil with a combined capacity of 155 MW.

Bonds increased as a proportion of North American project finance deals in 2017 versus loans, as MUFG remained top in both categories, according to data from Dealogic.

The joint-venture partners behind a solar project under construction in Mexico's Sonora state are adding almost 50 MW of merchant capacity to their original plans.

NTE Energy has signed the first of what it expects to be several power purchase agreements for its Reidsville Energy Center gas-fired project in North Carolina, having reached out to banks for project finance proposals late last year.

Invenergy employed a novel structure for a roughly $64.75 million privately placed project bond it issued to finance its 50 MW La Jacinta solar project in Uruguay.

The next wave of LNG projects in the U.S. will face more daunting financing challenges because of how the global natural gas market has evolved, say analysts at S&P Global Ratings.

A structured finance and tax equity professional who has worked in finance for more than three decades has left PNC Bank to take a sabbatical, PFR has learned.

Sponsors developing solar projects in Chile are increasingly taking advantage of a program that supports small-scale projects in the country with price stabilization and other benefits.

Industrial and Commercial Bank of China’s former head of energy structured finance in the Americas has surfaced at a newly-established broker-dealer.

C2 Energy Capital acquired a 52 MW portfolio of contracted, development-stage solar projects in South Carolina at the end of the year and is in the process of putting financing in place.

The Chilean subsidiary of French developer Cap Vert Energie has signed a $36.5 million deal with Banco Security to finance 33 MW of solar plants it developed under the country's increasingly popular small-scale generation regime.

Starwood Energy Group Global has completed its acquisition of stakes in a contracted coal-fired portfolio from an Ares-EIF fund, which the buyer is financing with long-term debt from a club of lenders.

Loan pricing is grinding ever tighter amid tough competition and an unrelenting influx of lenders to the U.S. project finance market, said deal watchers at the Infocast Projects and Money conference in New Orleans this week.

A Texas-based hedge fund is seeking to arrange mezzanine capital for Panda Power Funds, mainly to refinance existing capital associated with its fleet of gas-fired combined-cycle projects in PJM Interconnection, deal watchers tell PFR.

Developers, bankers and other market participants are talking increasingly seriously about the prospect of solar projects in Texas obtaining debt financing on the basis of power hedges, even with a potentially detrimental trade case decision looming in Washington.

A banker who joined ING’s utilities, power and renewables team in New York as a director last summer has already left for a different role at an advisory firm in Spain.

Empresas Públicas de Medellín has signed a $1 billion AB term loan package for its 2.4 GW Ituango hydro project in northern Colombia, in a rare example of international commercial banks joining a big-ticket deal in the country’s power sector.

Private equity firm Actis has agreed to buy all of InterGen’s generation assets in Mexico for an enterprise value of $1.256 billion in a transaction to be funded with equity and debt, as the London-based investor continues to ramp up its power capacity in the country.

Dutch asset manager, DIF, secured C$184 million to refinance brownfield solar assets Canada last December. Natixis approached DIF with a deal consisting of short and long-term debt.

Energy Capital Partners repriced $1.258 billion of term debt associated with its Wheelabrator Technologies waste-to-energy portfolio in December, adding a $125 million term loan C to the package and amending the change-of-control provisions in the process.

EDP Renewables North America has closed tax equity funds for a portfolio of solar projects in South Carolina and a bundle of wind assets spread across four states.

Greenbacker Renewable Energy is in talks with a lender and a tax equity investor to finance a solar project it acquired from Solar Frontier Americas Holding late last month.

Power Finance & Risk is accepting pitches for Deal of 2017 as part of its 15th Annual Deals and Firms of the Year Awards, recognizing excellence in power asset M&A and project finance across the Americas.

Apollo Global Management has signed a $50 million mezzanine deal for a 299 MW portfolio of under-construction wind projects in Chile.

Spanish solar developer X-Elio (formerly Gestamp Solar) has reacquired the Midway I solar project it sold to Solar Frontier Americas Development, the U.S. subsidiary of Japan-based Solar Frontier K.K., two years ago.

Total Eren, the French developer known until recently as Eren Renewable Energy, has reached financial close on a $167 million loan package for its 97.2 MW Vientos Los Hércules wind farm in Argentina, amid a revival of project finance in the country.

The final version of the Republicans’ signature tax reform bill puts to rest many of the fears expressed by the renewable industry, but leaves unclear how the broader tax equity market will adapt to the new rules, writes Eli Katz, partner at Latham & Watkins in New York.

Pan American Energy has agreed a $21.8 million export credit agency-guaranteed loan to finance the 24.15 MW Parque Eólico del Sur wind project in Argentina.

Investec has hired Ren Plastina, who worked in project finance at CIT Bank and BNP Paribas for many years, to spearhead its cleantech and distributed generation business.

Two banks have arranged a construction loan for Invenergy’s 132 MW Bishop Hill III wind project in Henry County, Ill.

Starwood Energy Group Global has increased the size of a term loan B offering and tightened the pricing as it refinances a portfolio of gas-fired assets known collectively as Compass Power Generation.

FS Investments plans to shift the strategy of its $4.2 billion energy investment fund, placing greater emphasis on self-originated deals and the power and renewables sector, through a partnership with EIG Global Energy Partners.

Conor, Clark & Lunn Infrastructure has refinanced a pair of solar projects totaling 100 MW in Ontario with two unrated private placements.

Calpine Corp. has tapped a series of corporate senior secured bonds maturing in 2026 for an additional $560 million as part of a $1.55 billion refinancing of debt associated with an almost 4.4 GW portfolio of gas-fired projects.

Vistra Energy, the Texas utility that is buying Dynegy, is the latest power sector borrower to launch a repricing of its term loans, with an almost $2.8 billion deal.

Calpine Corp. is tapping a series of corporate senior secured bonds maturing in 2026 for an additional $550 million as part of a $1.55 billion refinancing of debt associated with an almost 4.4 GW portfolio of gas-fired projects.

Starwood Energy Group Global has launched a term loan B package to refinance its Marcus Hook combined-cycle gas-fired project in Pennsylvania and two peakers in Massachusetts it bought from Dynegy earlier this year.

A sponsor has placed a private placement entirely with Allianz Global Investors to refinance a vintage wind project in Washington state.

Calpine Corp. was set to reprice three senior secured term loan Bs totaling $2.6 billion on Friday.

Independent power producer Central Puerto has agreed $105 million of loans for a 99 MW wind farm and transmission line in the province of Buenos Aires, in the latest round of international investment to pour into Argentina’s power sector.

Boralex has sealed a $53.3 million debt package to finance a 15 MW wind project in British Columbia.

Zuma Energía opted for development-bank only loans for its recent Mexican solar project financings to save time and money, says the company’s ceo, Adrián Katzew, who adds that innovative structures are required for commercial banks to participate in the market.

Canadian energy storage developer NRStor has secured a C$120 million ($93.9 million) loan from a fund managed by Swiss asset manager SUSI Partners to finance commercial and industrial behind-the-meter projects.

Solar and wind power producer sPower has priced a $421 million private placement secured on roughly half of its operational fleet, say deal watchers.

Zuma Energía sealed $291 million of loans with Mexican development banks for two solar projects totaling 283 MW in September, about one-and-a-half months after the sponsor inked the first project finance deal to emerge from Mexico’s post-reform power auctions.

A bank has laid out terms for a loan to finance a contracted solar project with a novel production hedge developed by kWh Analytics, offering a debt service coverage ratio of 1.1 times.

Pattern Development’s debt financing for its Henvey Inlet wind project in Ontario comprises a fixed-income bond tranche alongside a commercial bank loan, say deal watchers.

KeyBanc Capital Markets has signed a construction loan and letter of credit facility for Recurrent Energy’s 20 MW Gaskell West 1 solar project in California.

While there was disappointment in some markets as Senate Republicans proposed delaying a planned corporate tax cut from 2018 to 2019, the wind industry lobby was delighted with their move to keep the existing production tax credit unchanged.

Intesa Sanpaolo has hired a former director in project finance at WestLB as a senior structured finance banker in New York.

As developers round up loans to finance Mexican renewables projects in the wake of two aggressively-bid power auctions, the government continues to tinker with market design amid sweeping reforms that could see power purchase prices drop even lower.

National Australia Bank has hired a banker who recently left a European institution in New York, bringing the Australian bank’s U.S. project finance headcount to six.

BayernLB has hired a senior director in structured finance who worked at a rival bank in New York until recently.

Exelon Corp.’s competitive generation subsidiary in Texas, ExGen Texas Power, has filed for Chapter 11 bankruptcy protection as it enters into a restructuring procedure.

East West Bank has hired a banker from MUFG to replace a first vice president who left in April.

Starwood Energy Group Global has inked construction and term loans and a tax equity deal for a wind project with a non-utility power purchase agreement.

Two fossil fuel-fired generators repriced loans and TerraForm Power set out to refinance its debt this week amid borrower-friendly conditions in the leveraged finance market.

BBVA is shuffling several senior bankers within its global project finance team after its global head of energy project finance departed to take up a role at ING Capital in New York.

A developer is aiming to close debt financing for a 1 GW quasi-merchant gas-fired project in Michigan in the first quarter of next year.

M&A, refinancing activity and even new-build financings could be on the cards in Texas in the wake of recently announced coal-fired plant retirements, according to speakers at the 19th Annual Platts Financing U.S. Power Conference in New York.

Greenwind has signed $104 million in debt for its 100 MW Corti Wind Farm in Argentina, which the lenders say has the longest tenor of any project finance deal to emerge from the country’s RenovAr program and is the first to involve international banks.

MUFG's Matt Odette, director in project finance, and Frederick Echeverria, executive director on the private placement desk, discuss the trend toward financing projects in the bond market in the second part of this exclusive interview.

Two developers recently signed loans totaling more than $350 million to finance U.S. residential solar portfolios.

Panda Power Funds has brought another bank on as a coordinating lead arranger for the debt financing for its Mattawoman gas-fired project in Maryland.

Deutsche Bank is looking to make a big push in lending, says its head of originations for U.S. infrastructure and energy.

Brazilian regional development lender Banco do Nordest has agreed to finance 482 MW of renewable projects in the country, at a time when asset managers are once again bullish on real-denominated assets.

A battery storage developer has obtained a construction-to-term loan from a Brookfield Asset Management subsidiary for a project in Ontario.

Matt Odette, director in project finance, and Frederick Echeverria, executive director on the private placement desk, discussed the trend toward financing projects in the bond market with Richard Metcalf, editor of PFR, in this exclusive interview.

Sponsors are increasingly sourcing project debt in the capital markets rather than from banks, according to data from Dealogic, which is good news for financial institutions with private placement desks.

Private equity-owned solar developer X-Elio has requested proposals for debt financing for $128.6 million of projects in Mexico with maturities ranging from 16 to 20 years.

True Green Capital Management aims to acquire and finance a portfolio of commercial and industrial-scale solar projects with about $700 million of tax equity and debt, having closed its third discretionary fund earlier this year.

D.E. Shaw and Torch Clean Energy have sealed construction and tax equity financing for an Arizona solar project.

The International Finance Corporation is considering providing a $200 million-equivalent loan to the 1.5 GW Porto de Sergipe LNG-to-power project in Brazil, as the expected funding deadline for Latin America’s largest thermal facility draws closer.

Atlantic Power Corp. repriced its term loan B for the second time this year, following an upgrade from Moody’s Investors Service.

The renewables subsidiary of Enel has sold a majority stake in 1.7 GW of operational and under-construction wind and solar projects in Mexico and plans to raise about $900 million of project finance to bring the entire portfolio online.

Gregory Hutton, managing director and head of project finance for the Americas in Rabobank’s New York office, discusses the renewables landscape, project finance pricing and deal flow and the impact of the Suniva trade case in the first part of an exclusive interview with PFR reporter Fotios Tsarouhis.

Policymakers in Europe are considering tinkering with regulatory capital rules to allow banks to hold less capital against “green” assets, such as renewable project finance loans.

An infrastructure, power and utilities banker who worked at Scotiabank for 10 years has left the firm to take up a role in acquisition finance at a rival institution in New York.

LS Power wrapped a mini-perm on Friday to finance part of its acquisition of a bundle of merchant generation assets, called Aspen Generating, from FirstEnergy.

Norway’s Statoil, whose forays into renewables have previously been limited to offshore wind, has made its first move into solar by agreeing to enter into a joint venture with compatriot Scatec Solar to build and run solar projects in Brazil.

The Brazilian subsidiary of Italy’s Enel plans to raise bridge financing to partly fund the acquisition of a concession for a 380 MW hydro project on the Rio Grande, called Volta Grande.

The U.S. International Trade Commission sent shockwaves through the solar industry when it found injury to the domestic crystalline silicon solar cell industry, based on a petition bought by bankrupt manufacturers Suniva and SolarWorld, on Sept. 22.

Project sponsors have submitted more than 200 proposals in response to requests for proposals being run by a New York utility company and state agency.

Bolivia’s senate has approved €66 million ($78 million) of financing from French development lender Agence Française de Développement to part fund 45 MW of wind farms in the country.

As cash pours into project finance, non-bank lenders are trying hard to differentiate themselves from banks and each other.

A senior structured finance banker has departed the New York office of Industrial and Commercial Bank of China.

Sponsors have registered more than 2,700 projects totaling 77 GW to participate in Brazil's latest power auction, with a large bias toward renewables.

The U.S. Federal Energy Regulatory Commission has granted a waiver to the developer of a lateral natural gas pipeline that will serve a Competitive Power Ventures gas-fired project, overriding the New York State Department for Environmental Conservation (DEC).

Details around the second round of financing for the Cerro Dominador solar project in Chile’s Atacama Desert are beginning to firm up, with the borrower seeking to raise between $700 million and $800 million from banks, says a person close to the talks.

The project financing for the Norte III combined-cycle gas-fired project in Ciudad Juárez, Mexico, includes a five-year mini-perm, PFR has learned.

A group of sponsors is aiming to close a $736 million debt financing for a contracted LNG-to-power project in Panama by the end of the month.

Silicon Ranch Corp. is preparing to finance a series of four solar projects in Georgia totaling 200 MW after securing power purchase agreements in the summer.

Panda Power Funds is revising the structure of a financing for a greenfield gas-fired project in Maryland that has attracted interest from South Korean investors.

Spain’s Abengoa has completed the sale of its 907 MW Norte III combined-cycle gas-fired project in Mexico to Macquarie Capital and Techint Engineering & Construction in a deal that analysts say will have a $33 million net positive effect on the seller’s balance sheet.

Competitive Power Ventures plans to bring its 720 MW Valley Energy Center gas-fired project online using its back-up fuel, oil, after the New York Department of Environmental Conservation denied a water certificate to a pipeline project that is intended to supply the facility with natural gas.

A South Korean financial institution is looking to provide acquisition financing for coal-fired generation in the U.S., a banker in Seoul tells PFR.

Part of the $1.4 billion Cerro Dominador solar project in Chile’s Atacama Desert came online this week, providing its first 62 MW to the national grid, as the project's owner prepares to close a second round of financing.

A solar analytics firm called kWh Analytics is marketing a production hedge product that it claims will allow sponsors to raise more debt on contracted solar projects in the U.S.

Argentina has kick-started its latest tender for renewable project contracts with a tax incentive for renewables companies

A private equity portfolio company offered term loan B investors a discount to tempt them into a repricing transaction that was priced at the wide end of initial guidance last week.

Tyr Energy is seeking to wrap project financing for a 1 GW gas-fired project in Pennsylvania, having brought Asian investors on board on both the debt and equity side.

Sojitz Corp. has continued its Latin American renewables push by snapping up a stake in a 290 MW solar project in Mexico, which Sojitz says is the first such move by a Japanese company.

Siemens Financial Services has hired a director in equity, debt and structured finance, who was most recently involved in project finance at GE Energy Financial Services.

A joint venture closed a $410 million debt financing for a three-project wind portfolio in Chile with a club of banks on Aug. 8.

MUFG and Santander were the only commercial banks to participate in three project finance loans that recently closed for wind and solar projects in Mexico, among a host of development banks.

A joint venture is set to close a roughly $450 million debt financing for a three-project wind portfolio in Chile with a club of banks this week.

A Santiago-based project finance banker has left Santander to take up a position at the Inter-American Investment Corp.

The Brazilian Development Bank has provided its first solar project loan in a deal that will support an under-construction facility co-owned by Canadian Solar and EDF Energies Nouvelles.

Atlantic Power Corp. could seek to reprice its term loan B “as early as October” if interest rates remain low, the company’s ceo said during its second-quarter earnings call on Aug. 4.

Spain’s Grenergy Renovables has entered the Argentine wind market with an agreement to acquire the 24 MW Kosten wind farm in Patagonia, which is in the process of being financed.

A regional bank has hired a renewable finance specialist from a rival as it looks to begin providing project finance, primarily to solar developers.

LS Power Development has signed a loan package with eight banks to finance its acquisition of two gas-fired peakers in PJM Interconnection from Dynegy.

MUFG retained its number one spot in the North American power project finance mandated lead arranger league table for the first half of 2017, as gas-fired deals attracted institutional capital, while wind financing hit a lull.

Moody’s Investors Service has assigned a rating to a $6.3 billion debtor-in-possession facility for Energy Future Holdings, amid a tussle over who will own its main asset—Oncor Electric Delivery Co.—should it emerge from bankruptcy.

In June, officials from KeyBanc Capital Markets, Prudential Capital Group, Voya Investment Management and BlackRock discussed the latest trends U.S. renewable project finance with PFR.

An international consortium of sponsors has lined up a $73.31 million debt financing, partly insured by one of Japan's two export credit agencies, for a merchant solar project in Chile.

Alterra Power has secured additional debt under an existing loan from AMP Capital Investors to help finance a hedged wind project in Texas.

An independent power producer has assembled a club of banks to arrange acquisition financing for a pair of gas-fired peakers it is buying in PJM Interconnection.

Moody’s Investors Service has downgraded approximately $1.05 billion of debt associated with a 945 MW partially-contracted coal-fired project in Texas from B2 to B3.

Fisterra Energy closed financing totaling $620 million for its 875 MW Tierra Mojada gas-fired project plant in Mexico on Friday, with a club of banks providing a term loan and letters of credit.

AES Corp. priced a $1.5 billion private placement, to partially finance its AES Southland portfolio of gas-fired and battery storage assets in California, last week.

Électricité de France received the lion’s share of R$1.037 billion ($311 million) of wind project financing recently announced by Brazil’s National Bank of Economic and Social Development (BNDES), as the company continues its push into Brazilian renewables.

The Carlyle Group has sealed acquisition financing for a trio of gas-fired peakers in Illinois that the firm is buying from Rockland Capital.

Mandates and potential structural issues arising from the two recent power auctions in Mexico were discussed at a half-day conference hosted by Morrison & Foerster in its New York office on June 14.

JP Morgan has hired a former Natixis project finance banker as a v.p. in its infrastructure finance and advisory team in New York.

Argentina’s Genneia has signed two electricity supply contracts for its 220 MW Madryn wind farm in the country’s south, which is due to begin commercial operations in 2019.

An audit into loans approved by the Overseas Private Investment Corporation to Chilean solar projects that have since struggled is unlikely to hurt the country’s access to funding for other generation deals, say project finance bankers.

Continued low gas prices and depressed demand lower megawatt-per-day payments and change the game for all parties involved, writes Louise Pesce, m.d., project finance, at MUFG, in this week’s Industry Current.

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.

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.

Power Finance & Risk announced the winners of its 14th Annual Deals and Firms of the Year Awards at a drinks reception at the Bryant Park Hotel in New York on May 24.

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.

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 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.

NRG Energy and its subsidiary, GenOn Energy, have reached an agreement with a group of GenOn creditors that could pave the way to a consensual Chapter 11 restructuring.

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.

LS Power has closed a hybrid bank and institutional debt financing for a more-than-3 GW portfolio of merchant and gas-fired projects and sold the assets to a new group of institutional investors.

The Carlyle Group has assigned lead arrangers for a debt financing backing its acquisition of a portfolio of gas-fired peakers from Rockland Capital.

France’s Akuo Energy has tapped a trendy source of capital, raising €200,000 for an operational 28 MW wind project through its own crowdfunding platform.

Morgan Stanley is marketing a portfolio of wind assets in Montana and Alberta, a person familiar with the process has confirmed.

Ares-EIF has hired two investment banks to run a sale process for an under-construction gas-fired project in PJM Interconnection, deal watchers tell PFR.

Spain’s Acciona has signed a €100 million 'green loan' with BBVA to part-finance its solar and wind projects in Chile.

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.

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.

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.

Panda Power Funds’ Temple I gas-fired project in Texas filed for Chapter 11 bankruptcy protection on Monday.

The Carlyle Group has hired Morgan Stanley to lead a refinancing of a term loan B secured by a portfolio of gas-fired, oil-fired and hydro projects that the private equity firm acquired last year.