North America
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United Power has closed on the $627million withdrawal payment to Tri-State Generation and Transmission Association, though sale of the transmission assets finalizing the split remains delayed by the Federal Energy Regulatory Commission, PFR has found.
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The Department of Energy (DOE) has opened the application process for the first round of CO2 transportation infrastructure awards, which totals $200 million.
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Motor fuel giant Sunoco has closed on its $7.3 billion all-equity acquisition of independent pipeline operator NuStar.
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Renewables operator ERG has closed on its acquisition of a 75% stake in a 317MW solar and wind portfolio with Apex Clean Energy.
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Lightshift Energy is set to build up to 50MW of battery storage projects for the Massachusetts Municipal Wholesale Electric Company (MMWEC) grid in a first-of-its-kind program.
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Southern Power has signed a virtual power purchase agreement (VPPA) with a consortium of 7 companies for the renewable energy credits (RECs) produced by the 180MW Millers Branch Solar Facility Phase II in Haskell County, Texas.
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Alberta, Canada-based Capital Power has cancelled its $2.4 billion Genesee carbon capture and storage (CCS) project after determining the project was not financially viable.
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Great Bay Renewables has appointed Peter Leahey as its chief financial officer and Josh Levine as chief commercial officer.
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Distributed generation platform Aspen Power will partner with a local developer to acquire and manage a portfolio of 20 community solar projects.
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Tax credit transfer platform Crux Climate has secured a partnership with the American Clean Power Association (ACP), connecting more than 800 CPA members to its platform.
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The Bureau of Land Management has opened bidding on 5 lease sales for oil and gas-ready land across the US.
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Troutman Pepper has hired a renewable energy partner to its Capital Projects and Infrastructure Practice at its Los Angeles office.
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The Bureau of Ocean Energy Management (BOEM) has released 2 proposed sales for 18GW of offshore wind energy areas off the coast of Oregon and the Gulf of Maine.
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Utility-scale independent power producer Alternus Clean Energy will acquire more than 80MW of operating solar projects in the US from C2 Energy Capital at a value of $60 million.
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Plus Power has closed a $82 million tax equity investment with JP Morgan for its 90MW/360MWh Superstition Energy Storage project in Arizona.
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Carlyle-backed solar and storage developer Copia Power has hired the former Arevon head of project finance as its managing director and head of capital markets.
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Brookfield Asset Management – alongside Brookfield Renewable – and Microsoft have signed a global renewable energy framework agreement to meet the technology company’s sustainability goals.
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Former Fengate Asset Management director Vince Castranovo has been hired by Calpine as vice president, corporate development.
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ITC Midwest has closed on its acquisition of transmission assets from Iowa's Maqouketa Municipal Electric Utility, PFR has learned.
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Colorado-based Humble Midstream II Partners has hired Brian Newmarch and John Shefchik as CFO and VP, engineering and construction, respectively.
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Hitachi Energy has invested more than $100 million alongside Investissement Quebec to upgrade and modernise its power transformer factory in Varennes and other facilities in Montreal.
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Houston-based independent power producer WattBridge Energy has hired Steven Sneed as commercial director.
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The New Jersey Board of Utilities (NJBPU) has opened the application process for its fourth offshore wind solicitation, targeting up to 4GW.
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Georgia Power Company (GPC) has closed on its $317 million transmission line sale to Georgia Transmission Corporation (GTC), PFR has learned.
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The New York State Energy Research Development Authority (NYSERDA) has awarded conditional agreements to utility-scale onshore renewables projects totalling 2.4GW.
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WEC Energy Group has agreed to acquire a 90% ownership interest in the 300MW Delilah I Solar Energy Center from Invenergy for $459 million.
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Altus Power has named Gregg Felton as sole chief executive after Lars Norell resigned as co-CEO and director.
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The Nordex Group and has appointed Manav Sharma as chief executive, North America to lead the wind turbine maker’s expansion in the US.
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energyRE has landed a $240 million financing package for its 108MW/198MWh Lone Star Solar-Plus-Storage project in South Carolina.
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FuelCell Energy has closed a $13 million debt financing with Liberty Bank and Connecticut Green Bank for 2 operating community fuel cell projects in Connecticut.
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Ocean Power Technologies’ corporate controller, treasurer, and principal accounting officer, Joseph DiPietro, has left the company, PFR has learned.
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Construction and development firm Skanska has been awarded an $861 million contract to develop an offshore wind port at the South Brooklyn Marine Terminal (SBMT).
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NextEnergy Capital’s fifth fund has raised $745 million, nearing half of its $1.5 billion target.
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Pine Gate Renewables has closed a $650 million investment round led by Generate Capital, the Healthcare of Ontario Pension Plan (HOOPP), and HESTA.
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The US Treasury Department has released the final rules for the transferable tax credits of the Inflation Reduction Act (IRA).
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Duke Energy has sold an aggregate principal amount of $177.3 million Series A storm recovery bonds to fund transmission repairs caused from major storms, PFR has learned.
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The Governor's Energy Office of Maine has released a request for information (RFI) regarding the state's first utility-scale offshore wind auction, totalling 3GW.
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Alternus Clean Energy CFO, Joseph Duey, has resigned effective 30 April 2024, PFR has learned.
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The US Department of Transportation has awarded $148 million in grants to 16 EV and renewable natural gas (RNG) projects to help reduce air pollution at ports across the US and Puerto Rico.
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Evergy has closed on the acquisition of a 22.2% stake in the 655MW natural gas-fired Dogwood Energy facility.
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Axium Infrastructure’s Coachella subsidiary will sell its 49% interest in Morongo Transmission to the Morongo Band of Mission Indians.
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Sunpower has closed business units and made layoffs as part of its efforts to secure long-term financial sustainability amid restructuring and refinancing initiatives.
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Agilitas Energy has closed $100 million in debt financing from Nomura to grow its 250MW portfolio of solar and energy projects in the northeast US.
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The Department of Energy (DOE) selected LS Power's Southwest Intertie Project-North (SWIP-North) as a fourth conditional project for the first round of its Transmission Facilitation Program.
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The Bureau of Ocean Energy Management (BOEM) has issued a 5-year offshore wind leasing schedule that will see 12 offshore wind energy lease sales through 2028.
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Central Coast Community Energy (3CE), a California community choice aggregator, has issued a request for proposals (RFP) for clean energy and storage power purchase agreements (PPAs).
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GA Drilling, a deep geothermal company, has closed $15 million in financing from several investors to scale its geothermal technologies.
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BW Solar has agreed to sell 12 New York community solar projects totalling 76.7MW to solar and battery storage developer Catalyze.
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Renewable developer Hecate Energy has secured a siting agreement and conditional use permit for its 150MW solar project from Cumberland County, Virginia.
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The Hyundai Motor Group has signed a 15-year solar power purchase agreement (PPA) with Matrix Renewables.
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Microsoft's Climate Innovation Fund has invested in sustainable fuels technology business and clean fuels producer LanzaJet.
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Renewables infrastructure firm True Green Capital Management has partnered with Qcells to install up to 450MW of solar projects across the US.
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Greenbacker Renewable Energy Company has closed its sale-leaseback deal with Huntington National Bank, securing $437 million to finance the repowering of a 3 asset wind portfolio.
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The New York State Energy Research and Development Authority (NYSERDA) plans to deploy $500 million in investment commitments to establish an offshore wind supply chain in New York State.
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The University of Dayton and AES Ohio have entered into a power purchase agreement (PPA) for a waste-to-energy project that will provide the University with 100% of its power.
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The Department of Energy (DOE) has awarded $1.93 billion in qualifying advanced energy project tax credit allocations – known as 48C tax credits – to 35 projects focused on renewable manufacturing and greenhouse gas emission reduction.
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Avalon International has agreed to build carbon capture facilities at green hydrogen company Big Hill Materials' planned US production sites.
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Southwest Gas has closed on its near $300 million initial public offering (IPO) of subsidiary Centuri Holdings.
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Avalon International has agreed to build carbon capture facilities at green hydrogen company Big Hill Materials' planned US production sites.
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US-based firm Bernhard has entered a 30-year energy-as-a-service (EaaS) partnership with Hackensack Meridian Health (HMH), resulting in a $134 million solar energy and battery storage system.
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Solar manufacturer Maxeon Solar Technologies has filed another patent infringement lawsuit regarding its PV solar cell technology in Texas.
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Clifford Chance has hired Joclynn Marsh as counsel in its energy and oil and gas related infrastructure practice.
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Clearway Energy Group has closed a $174 million project financing and finalised a power purchase agreement (PPA) for its Dan's Mountain wind farm in Western Maryland.
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The New York State Energy Research and Development Authority (NYSERDA) has closed its 2022 solicitation tender with no final awards given after GE Vernova "caused material changes" by changing its turbine design for the projects.
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New England states have jointly-submitted applications to compete in the second round of the Department of Energy (DOE)’s Grid Innovation Program (GIP) which has $1.82 billion to award.
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Solar manufacturer Maxeon Solar Technologies has filed a patent infringement lawsuit against REC Solar Holdings regarding its PV solar cell technology in Texas.
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Minority stake sales in renewables platforms are becoming more common as sellers look to “recycle capital’, according to Ammad Faisal, senior managing director, Marathon Capital.
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Renewable energy executives – speaking at S&P Global Power Markets – are downplaying the political risk of the November US election on the nation’s energy transition.
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Calibrant Energy has partnered with Ava Community Energy to deploy 75 public EV charging stations across 6 cities in Northern California.
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An Arizona federal judge has rejected a request by Native American tribes and environmental groups to halt the construction of Pattern Energy's SunZia project.
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Asset management firm Connor, Clark & Lunn Infrastructure (CC&L) has closed on the acquisition of an 80% stake in the Sharp Hills wind farm from EDP Renewables Canada (EDPR Canada).
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Engie North America has inked an agreement to develop 12 renewable projects totalling 15GWh to power the facilities of technology and science company RTX.
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HASI has amended and extended its corporate unsecured credit facility with 14 banks to $1.65 billion, including a revolving line of credit, term loan A, and Green Commercial Paper Note Program (CarbonCount Green CP).
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Colorado-based renewables company Scout Clean Energy has signed a 12-year virtual power purchase agreement (VPPA) with Zoetis for a 50MW portion of its Heart of Texas wind farm.
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Atlas SP Partners has backed Energy-as-a-Service company Redaptive with a $225 million warehouse financing facility.
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BP has made significant shifts in its leadership structure as its head of natural gas and low carbon energy, Anja-Isabel Dotzenrath, steps down.
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Boeing is buying 9.4 million gallons of blended sustainable aviation fuel (SAF), for its ecoDemonstrator programme and 2024 US commercial operational flights, from Neste as offtake agreements in the sector ramp up.
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ForeFront Power, a commercial and industrial solar energy and storage developer, has hired Ruben Fontes as chief executive.
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The technology venture arm of US-based oil & gas producer Chevron has launched a third fund with $500 million in capital.
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Arevon Energy has inked a long-term tolling agreement with electricity provider MCE for its 250MW Cormorant Energy Storage Project in Daly City, California.
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Battery storage developer Spearmint Energy has hired four senior executives to its project finance, capital markets, regulatory affairs, and commercial operations teams.
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PPL Corporation's CEO told the room of power executives at S&P's Global Power Market Conference 2024 that more natural gas power is needed despite a focus on renewables.
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Madison Energy Infrastructure has acquired the commercial assets, solar development pipeline, and development team of Sun Tribe Solar.
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Origis Energy has closed a $136 million construction financing facility and a conversion-to-term loan from MUFG for its 75MW Rice Creek Solar project in Florida.
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Lightshift Energy, a utility-scale energy storage developer, has hired Robert Greskowiak as chief commercial officer.
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Nova Clean Energy has acquired HyFuels, a 1GW mid-to-late-stage wind and solar development that also contains an early-stage green ammonia project on the Texas Gulf coast.
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SolaREIT has closed $13 million in real estate financings for several NineDot Energy battery energy storage (BESS) projects in New York City.
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US-based manager Galway Sustainable Capital has made 4 hires across its business following investments from Macquarie Asset Management (MAM) and Aware Super.
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NextEra Energy has entered into an offtake agreement with wholesale power provider Guzman Energy and local electric cooperative Holy Cross Energy (HCE) for 100% of the capacity of its 200MW Bronco Plains II wind project in Colorado.
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Arevon Energy has appointed the former co-president of Starwood Infrastructure Finance as its chief investment officer, based in New York.
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Copenhagen Infrastructure Partners (CIP) has acquired Liberty Renewables and its 1.3GW pipeline of onshore wind projects in New York State.
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Vinci Group has acquired a minority stake in NatPower SA, a renewable energy developer which operates in Italy, the UK, and the US, in a deal valued at €50 million ($53m).
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Renewables developers are readying themselves for more supply chain disruption as additional tariffs on China-made panels are under consideration from the US government.
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Renewable infrastructure firm Schroders Capital has hired Jason Kezelman and Loren Sageser as head of US sales and senior product strategist in its private debt and credit alternatives (PDCA) team, based in California.
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Commercial solar and clean energy development platform Sunrock Distributed Generation (DG) has entered a tax equity partnership with US student and consumer loan financier Nelnet.
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KKR Infrastructure Conglomerate (K-Infra) and its subsidiaries have signed a $150 million revolving credit facility that allows the company to borrow up to $1 billion.
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Arcadia, a utility data and community solar platform, has closed a $50 million investment round led by a Macquire Asset Management fund to support its community solar program in the US.
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Renewable energy infrastructure investor Excelsior Energy Capital has signed a long-term agreement with solar manufacturer Heliene to acquire 2GW of PV modules.
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Oil, gas and NGL company Chord Energy and Canadian O&G giant Enerplus have cleared the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for their $11 billion business combination, PFR has found.
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Energy giant Sunoco has exhausted the required waiting period to satisfy a condition of a $7.3 billion deal to acquire independent pipeline operator NuStar Energy.
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California Independent System Operator (CAISO) has announced that 2 of the offshore wind-related transmission processes will be part of a May 2024 competitive transmission procurement.
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The US offshore wind sector continues to gain momentum with the latest round of regulatory approvals as financiers begin to prep the paperwork to fund these mega projects.
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Verdagy has entered a global strategic agreement to deliver its green hydrogen electrolysis technology to renewables developer Doral in Europe, US, Australia and the Middle East through 2030.
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Riley Exploration Permian has closed on sale of its 2.1 million shares of common stock, netting the company $25.4 million, PFR has learned.
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Community solar developer Nexamp has secured a $520 million investment led by Manulife Investment Management to fund its over 2GW project pipeline in the US.
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Arevon Energy has closed a $352 million credit facility with a consortium of banks led by the Canadian Imperial Bank of Commerce (CIBC) for its 228MW Posey Solar Project in Indiana.
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New Rise Renewables has launched its 3,200 barrel-per-day renewable sustainable aviation fuel (SAF) facility in Nevada.
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Engie has signed a virtual power purchase agreement (VPPA) with Sonoco, a sustainable packaging company, for 140MW of its 270MW Big Sampson Wind Project, which is under construction in Texas.
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Latham & Watkins has hired Daniel Sinaiko as a partner in the firm’s project development & finance practice and the energy & infrastructure industry group, based in Los Angeles, California.
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Renewable energy infrastructure fund manager Excelsior Energy Capital has launched Lydian Energy, an independent power producer (IPP) specialising in the development, construction, and operation of utility-scale solar and battery energy storage projects in North America.
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Nuclear technology company Oklo has signed a long-term power purchase agreement (PPA) for a 50MW project with major oil producer Diamond Energy.
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Enbridge subsidiaries Enbridge Energy Partners and Spectra Energy Partners have closed on their offering of $3.5 billion in senior notes, PFR has learned.
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ExxonMobil and FuelCell Energy will extend their carbon capture research joint development agreement (JDA), PFR has learned.
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Eco Wave Power, a Stockholm, Sweden-based onshore wave energy technology company, has secured Shell as a co-investor for its Port of Los Angeles pilot wave energy project.
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Chesapeake Energy’s $7.4 billion merger with Southwestern Energy has been delayed following a request from the Federal Trade Commission (FTC).
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Utility-scale energy storage developer esVolta has secured a $185 million senior secured credit facility from a consortium of banks led by Nomura Securities International.
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Entergy New Orleans is issuing $150 million in first mortgage bonds with the Bank of New York Mellon, PFR has learned.
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Lightsource BP has proposed the sale of its Happy and Oxbow solar facilities, PFR has learned.
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The Department of Energy (DOE), the US Treasury Department, and the IRS have awarded $4 billion in tax credits to 100 projects across clean manufacturing, critical materials, and industrial decarbonisation.
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Alternus Clean Energy, a utility-scale independent power producer, has entered a joint venture partnership with Acadia Energy to develop 200MW of microgrid projects in New York State.
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The Department of Energy (DOE), Treasury Department, and IRS have jointly awarded an $18.3 million transferable tax credit to electrolyser producer Electric Hydrogen (EH2) for its manufacturing plant in Devens, Massachusetts.
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Grid-scale battery company Energy Vault has selected Michael Beer as its chief financial officer.
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Chevron New Energies (CNE) has led a $45 million Series A financing for ION Clean Energy, a carbon capture technology company.
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Carlyle-backed Copia Power has closed a $300 million corporate credit facility to support its 15GW solar and storage pipeline.
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Tri-State Generation will replace retiring chief operating officer (COO) Billy Ingold with 2 internal promotions, PFR has learned.
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TortoiseEcoFin has hired Courtney Gengler as the chief executive of Tortoise's closed-end funds effective 1 April, 2024, PFR has learned.
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United States Steel (US Steel) and carbon capture technology business CarbonFree have signed an agreement to capture CO2 emissions generated from US Steel’s Gary Works Blast Furnaces.
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Granite Shore Power has announced the retirement of its 439MW Merrimack coal plant in 2028, marking the end of the last operating coal plant in New England.
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Independent natural gas and oil company HighPeak Energy will up its existing $75 million credit agreement to $100 million, PFR has learned.
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Canadian Solar subsidiary Recurrent Energy has secured a €110 million ($120m) multi-currency facility from a consortium of banks led by Investec to support its solar and storage project pipeline in Canada, the US, and abroad.
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Law firm Akin has hired Ian Goldberg, a former Hunton Andrews Kurth energy transactions lawyer, as a partner at its Houston, Texas, office.
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International capital is heading to US renewables at what many in the space are calling “record breaking” pace.
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Rockland Power will up its stake in the 237MW Eagle Point Power Generation plant by 13%, PFR has learned.
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The Bureau of Ocean Energy Management (BOEM) has given a Record of Decision (ROD) to Avangrid for its New England Wind lease area, the penultimate permit approval needed to construct its 2.6GW offshore wind projects.
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Public Services Company of New Mexico (PNM) and its subsidiaries, PNM Resources and Texas-New Mexico Power Company (TNMP), have entered extended 3 revolving credit facilities, PFR has learned.
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Renewable fuels company Raven SR has closed $15 million in an investment round led by Ascent Funds to grow its production of synthetic fuels, hydrogen, and sustainable aviation fuel (SAF).
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Renewables focused-asset manager Greenbacker Capital Management (GCM) has expanded its team with the hire of Evan Sherman as head of real estate acquisitions.
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Natural gas utility Atmos Energy has entered into 2 revolving credit facilities totaling $3 billion, PFR has learned.
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Carbon removal credit platform Deep Sky and hybrid direct air capture (HDAC) company Avnos have partnered to incorporate their technologies at Deep Sky's lab in Canada.
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Maxeon Solar Technologies US has appointed Vikas Desai as its chief financial officer in the San Jose, California office.
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Mitsubishi Power Americas-owned battery business Prevalon Energy has agreed to develop a 328MWh battery energy storage system (BESS) signed to a long-term service agreement with Idaho Power.
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Solar and storage developer MN8 has closed a private placement at $325 million from Mercuria Energy Group and Ridgewood Infrastructure to grow its US pipeline of solar, storage, and electric vehicle (EV) charging projects.
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Enbridge has closed on the sale of its 50% stake in the Alliance Pipeline and its 42.7% stake in Aux Sable to Pembina Pipeline.
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Renew Energy Partners has completed financing on its fourth investment vehicle, Renew Energy Efficiency Projects 4 (EEP4), and signed a master revolving loan and security agreement with Mitsubishi.
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Natural gas giant CPS Energy will acquire Talen Energy Corporation’s approximately 1,710MW generation portfolio, including natural gas plants in Corpus Christi and Laredo, Texas.
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Carbon removals and renewables company Drax Group has entered a CO2 capture deal with Karbon-X.
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Utility-scale battery storage developer Lightshift has received $100 million in investments from 2 of Greenbacker Capital Management's sustainability and infrastructure-focused investment vehicles.
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Shell North America has sold its 50% stake in the 2.4GW proposed SouthCoast Wind project with its joint venture partner Ocean Winds North America.
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Leeward Renewable Energy (LRE) has signed 2 power purchase agreements (PPAs) for 200MW with Microsoft.
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Vision RNG is to develop, build, own, and operate 3 landfill gas (LFG) to renewable natural gas (RNG) facilities at privately-owned landfills located in Alabama and Tennessee.
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Ørsted, Avangrid, and Vineyard Offshore among bidders of the 6GW to Massachusetts, Connecticut, and Rhode Island for the states' combined New England auction.
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The Department of Energy's (DOE) Loan Programs Office (LPO) has awarded energy equipment supplier Holtec $1.52 billion to restore its 800MW Palisades nuclear-generating station in Michigan.
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Southeast PowerGen will sell both its 386MW MPC Generating Power Plant and its 692MW Sandersville gas-fired sites to Gulf Pacific Power, PFR has learned.
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The Bureau of Ocean Energy Management (BOEM) has approved Ørsted's 924MW Sunrise Wind project off the coast of New York, making it the seventh utility-scale offshore wind project approved under the Biden-Harris administration.
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Natixis Corporate & Investment Banking has closed a $900 million letter of credit with Invenergy to fund its project development pipeline of utility-scale wind and solar projects, as well as battery storage systems.
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Walmart has made a tax equity investment in a Pivot Energy community solar project portfolio, reaching its goal of supporting 1GW of renewable capacity across the US.
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Renewable energy and decarbonisation platform Origis Energy has promoted Vikas Anand to chief executive.
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EDP Renewables North America (EDPR NA) and superstore megachain Walmart have inked a 15-year power purchase agreement (PPA) for part of a 180MW solar project in Texas.
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FirstEnergy has closed its $3.5 billion sale of an additional 30% ownership interest in its FirstEnergy Transmission subsidiary to Brookfield Super-Core Infrastructure Partners.
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Clean power developer Leeward Renewable Energy (LRE) has appointed Nate Graham as chief technology officer.
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Renewables developer NextEra Energy will sell its 180MW Big Cypress solar photovoltaic facility to Crittenden County, Arkansas in a sale-leaseback deal, PFR has learned.
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The Department of Energy (DOE) has awarded $6 billion to 33 projects that aim to decarbonise some of the largest industrial sectors and communities in the US.
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Northland Power has begun the search for a chief executive with incumbent, Mike Crawley, set to leave the firm in September.
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Aemetis, a renewable natural gas (RNG) and fuels company, has been approved by the US Citizenship and Immigration Services (USCIS) for a $200 million EB-5 investment program for several RNG projects.
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The Department of Energy (DOE) has awarded $475 million in funding for 5 projects that feature renewable development on former mining lands. The projects are located across Arizona, Kentucky, Nevada, Pennsylvania, and West Virginia.
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SunPower has fallen foul of Nasdaq listing rules amid debt restructuring caused by higher than expected losses in 2023.
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Doral Renewables has closed a $144 million project financing with HSBC for its Great Bend Solar project in Meigs County, Ohio.
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Invenergy has closed $1.27 billion in construction financing with Natixis Corporate & Investment Banking (CIB) on 4 renewables projects in Kansas and Texas, totalling 677MW.
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Ørsted continues leadership changes after suffering significant impairments in 2023 from US offshore wind projects with the hire of Rasmus Errboe as deputy chief executive officer and chief commercial officer.
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Renewable energy developer and producer RIC Energy will sell 7 photovoltaic plants in upstate New York to distributed energy platform Radial Power.
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Quinbrook Infrastructure Partners portfolio company Primergy Solar has signed a long-term power purchase agreement (PPA) with local utility San Diego Community Power (SDCP) for its 400MW/1.6GWh Purple Sage Energy Center, a solar-plus-storage project.
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InfraRed Capital Partners has closed its purchase of shares in 2 utility-scale onshore renewables projects from Shell's US subsidiaries, Shell Windenergy and Savion, for $166 million.
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Cheniere Energy has closed the sale of a $1.5 billion aggregate principal senior notes offering, PFR has learned.
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Investment firm KKR has acquired a majority stake in utility-scale solar and storage developer Avantus, joining existing investor EIG in a $1 billion investment.
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The Lancaster, California city planning commission has approved Element Resources' renewable hydrogen and solar facility, taking the next step in the partnership after signing a Memorandum of Understanding (MoU) with the developer in 2023.
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An Eagle Creek Renewable Energy affiliate has acquired US-based community solar developer and owner Lightstar Renewables.
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EverWind Fuels has signed a green hydrogen memorandum of understanding (MoU) with Nova Scotia-based energy distribution company Eastward Energy.
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The Bureau of Ocean Energy Management (BOEM) has proposed a second offshore wind lease sale for the Gulf of Mexico. The sale includes 4 sites off Louisiana and Texas which have the potential to power up to 1.2 million homes.
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Renewable natural gas (RNG) platform Viridi Energy has acquired a legacy biosolids digester plant in Brunswick, Maine.
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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.
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EDP Renewables North America has partnered with Volt Energy Utility to develop the 110MW Hickory Solar Park, which has secured an agreement with Microsoft to purchase electricity and renewable credits (RECs).
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UAE state-owned developer Masdar is set to acquire a 50% stake in US-based independent renewable energy power producer Terra-Gen Power from Energy Capital Partners (ECP).
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Renewables developer Arevon Energy has entered into a 15-year energy storage service agreement with local utility San Diego Community Power (SDPC) for its Avocet Energy Storage Project.
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Fiera Infrastructure Private Debt has joined Nomura Securities in a $200 million financing for Spanish developer Greenalia's 3GW wind and solar project pipeline in the US.
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Talos Energy will sell its wholly-owned subsidiary Talos Low Carbon Solutions (TLCS) to TotalEnergies E&P USA.
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Sunrise Mountain Partners and CleanCapital, a C&I and distributed generation (DG) solar owner and operator, have extended their co-development partnership.
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Babcock & Wilcox's (B&W) thermal subsidiary has signed a $246 million agreement to complete a 1GW coal-to-natural gas conversion project.
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Partners Group subsidiary Exus North America has closed on its acquisition of onshore wind projects from Dutch commodity trader Vitol and Oppidum Green Energy.
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Baker Botts has hired a partner to join its energy, projects, and transactions practice of the firm’s global projects department.
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CapturePoint has sold 100% of the 45Q tax credits generated by carbon dioxide (CO2) capture at its Arkalon CO2 facility near Liberal, Kansas to an unnamed buyer in a 12 year agreement.
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King & Spalding has hired an energy-focused tax partner for its New York-based corporate practice group.
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ExxonMobil and FuelCell Energy are renegotiating their carbon capture joint development agreement (JDA) as it nears termination, PFR has learned.
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Schneider Electric plans to invest $140 million into 2 Tennessee-based power distribution technologies manufacturing plants.
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Duke Energy has made a series of executive leadership changes as executive president and chief commercial officer Steve Young retires.
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The Bureau of Ocean Energy Management (BOEM) has finalised a Wind Energy Area (WEA) in the Gulf of Maine, which has a potential 32GW capacity.
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Ørsted's 132MW South Fork Wind is the first utility-scale offshore wind project to become fully operational in the US. The achievement comes after nearly a decade of industry struggles since the first large-scale transmission farm, Cape Wind, failed in 2015.
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Reformed Energy is to receive a strategic investment from Riot Platforms to fully commercialise its waste-to-energy technology.
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The Department of Energy's (DOE) Loan Programs Office (LPO) has signed a conditional loan of $72.8 million with the Tribal lands of the Viejas Band of the Kumeyaay Indians to develop a solar-plus-storage energy microgrid in Alpine, California.
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Nuclear power plant operator Constellation Energy has offered $900 million in green senior notes due 15 March, 2054, PFR has learned.
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Residential solar technology and energy business SunPower has hired Tony Garzolini as executive vice president and chief revenue officer (CRO).
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Sustainable aviation fuel (SAF) producer XCF Global Capital has agreed to combine with special purpose acquisition company (SPAC) Focus Impact BH3 Acquisition.
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The Department of Energy (DOE) has awarded $750 million for 52 green hydrogen projects across manufacturing, electrolysis technology, recycling, and more. Together, the projects are expected to produce 24GW of hydrogen in different forms.
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Atlas Energy Solutions has closed on its $450 million acquisition of Hi-Crush's Permian Basin proppant production assets and North American logistics operations.
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CarbonCapture, a direct air capture (DAC) company, has secured $80 million in Series A financing, led by Prime Movers Lab, an investor in scientific-based startups.
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Danish developer Ørsted has agreed to sell its stakes in a 957MW operating wind portfolio in the US to Stonepeak for about $300 million.
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Longroad Energy has closed a debt facility with a consortium of banks led by CIBC and a tax equity loan from Athene Annuity and Life Insurance Company for its 444MW/855MWh Serrano solar project in Arizona. PFR understands the value of the financing to be $650 million.
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Microgrid and microturbine manufacturer Capstone Green Energy Holdings has hired Vince Canino as its president and chief executive.
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Renewable real estate investment fund SolaREIT has hired 3 senior vice presidents to its corporate and business development teams amid company expansion.
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Renewable energy infrastructure investor Excelsior Energy Capital will sell a 38-asset solar and storage portfolio to BlackRock’s Evergreen Infrastructure Partners Fund.
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Quaise Energy has secured $21 million in series A1 funding led by Purdue Ventures and Safar Partners to expand its deep geothermal energy operations.
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WEC Energy Group has hired the president and chief operating officer of Northern Indiana Public Service Company (NIPSCO), Michael Hooper as president of WEC’s We Energies and Wisconsin Public Service divisions effective 1 April, 2024.
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EQT Corporation will acquire natural gas provider Equitrans Midstream Corporation in an all-stock transaction valued at $5.45 billion.
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Law firm Sheppard, Mullin, Richter, & Hampton has hired tax attorney Julie Marion to the energy, infrastructure, and project finance team as partner in Chicago.
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Utility-scale solar and storage developer Primergy Solar has closed $588 million in debt financing from a consortium of banks for its 408MW/300WWh Ash Creek Solar and storage project in Hill County, Texas.
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EnCap Energy Transition Fund (ETF) has launched Bildmore, a platform company that invests in minority tax equity stakes in solar, battery storage, and energy transmission projects.
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Standard Solar will acquire a 6-project, 18.5MW solar portfolio from Vermont-based developer MHG Solar.
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Solar developer Sol Systems has secured $250 million in project financing for its 300MW Eldorado Project from a consortium of banks led by Silicon Valley Bank.
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Renewables developer NextEra Resources is selling its Dunns Bridge II Solar and Storage project to a joint venture managed by utility the North Indiana Public Service Company (NIPSCO) and an unnamed tax equity investor, PFR has learned.
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Vistra Corporation has closed on the sale of the Richland and Stryker power plants to Rockland Capital, one of the final puzzle pieces in the closing of its $6.3 billion merger with Energy Harbor.
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Spanish energy giant Repsol has closed on its acquisition of US renewable development company ConnectGen for $768 million.
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The former co-founder and chief financial officer of OKRA Finance has been appointed as the head of transactions and finance at renewable energy tax credit marketplace Reunion.
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Canadian pipeline and energy company Enbridge has closed on its acquisition of Dominion Energy’s East Ohio Gas Company (EOG) for $6.6 billion.
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Houston-based Royd Warren has been appointed as chief operations officer at US-based power plant owner and operator IHI Power Services Corporation (IPSC). He will assume the post on 25 March (2024).
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Utility-scale battery developer GridStor has acquired a 450MW/900MWh battery energy storage system (BESS) project in Galveston, Texas, from Balanced Rock Power.
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Spanish utility Iberdrola has submitted a non-binding offer to buy the remaining 18.4% of its US subsidiary Avangrid for $2.5 billion, aimed at taking over the entire company.
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A consortium of insurance companies has agreed to acquire a 76.5MW biomass-fuelled power plant sited in Berlin, New Hampshire, PFR has learned.
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The United States Department of Agriculture (USDA) has granted $2.3 billion in funding to 39 energy infrastructure and renewable energy projects in rural communities across 23 states.
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Energy and commodities-focused lawyer Don Macbean has joined Willkie Farr & Gallagher as a partner in the firm's corporate and financial services department based in New York.
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Utility-scale solar and energy storage development company Redeux Energy Partners is seeking investors to buy a minority stake as a corporate-level equity capital raise, PFR has learned.
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rPlus Energies has extended the power purchase agreement (PPA) on its utility-scale Green River Energy Centre with utility PacifiCorp from 400MWh to 1.6GWh.
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RIC Energy has sold a 20MW solar photovoltaic portfolio to Brookfield-owned Luminace.
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Alliant Energy’s Wisconsin Utility, the Wisconsin Power and Light Company (WPL), is offering $300 million aggregate principal amount of 5.375% debentures.
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Community solar and storage developer REC Solar has hired the former chief operating officer of Distributed Solar Development (DSD) as chief executive.
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Battery developer GridStor has closed a tax credit transfer sale with JP Morgan for its 60MW/160MWh Goleta Project, which consists of 44 battery energy storage systems in Santa Barbara, California.
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Private equity firm Bridgepoint's proposed $1.1billion acquisition of energy-focused investment manager Energy Capital Partners (ECP) has been halted by the Federal Energy Regulatory Commission (FERC) over competition concerns.
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Arevon Energy has signed 2 long-term environmental attributes purchase agreements (EAPAs) with Meta for its 349MW Kelso Solar Project in Missouri.
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TC Energy and partner Northern New England Investment Company are to sell the Portland Natural Gas Transmission System (PNGTS) to BlackRock and investment funds managed by Morgan Stanley Infrastructure Partners (MSIP).
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Canadian power company TransAlta has signed 10-year tax credit transfer agreements for 2 Oklahoma-based wind projects totalling 500MW.
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Elda River Capital Management, a real assets-focused investment firm, has spun off from private equity fund Magnetar Capital with $1.5 billion in assets under its management.
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New Fortress Energy will offer $500 million aggregate principal senior secured notes due 2029 via private offering.
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Baker Botts has hired a partner for the energy, projects, and transactions team of the law firm's global projects department in the Washington, DC, office.
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Altius Renewable Royalties’ (ARR) jointly-owned subsidiary, Great Bay Renewables has entered into a $30 million royalty investment with Apex Clean Energy.
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Renewable fuels company Global Clean Energy founder Richard Palmer will retire from his position as the company’s chief executive.
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Mammoth Energy Services has received $50.6 million from the Puerto Rico Electric Power Authority (PREPA) clearing the company's debt to the SPCP Group.
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Chevron New Energies is set to develop a 5MW hydrogen production and solar project on its existing oil field in California's Central Valley.
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The Government of Canada has closed its second green bond issuance, a C$4 billion ($2.9 billion) 10-year green bond, becoming the first sovereign borrower to issue a green bond that includes nuclear expenditures.
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Engie North America has signed 3 tax equity financing agreements totalling $1 billion with JP Morgan, Goldman Sachs, and BNP Paribas. The financing covers 6 renewable energy projects, including 950MW of solar and 353MW of wind.
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The largest clean energy infrastructure project in US history was closed just before we started the new year. Pattern Energy inked $11 billion in financing for its 500+ mile transmission line connecting more than 3.5GW of stranded wind resources – SunZia.
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Utility company Exelon has promoted Jessica Hart to senior vice president and chief investment officer after incumbent Doug Brown retires after 15 years in the role.
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The New York State Energy Research and Development Authority (NYSERDA) has issued conditional agreements for 2 offshore wind projects in its fourth offshore wind solicitation: 810MW Equinor-owned Empire Wind 1 and Ørsted & Eversource-developed 924MW Sunrise Wind.
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DE Shaw Renewable Investments (DESRI) will sell multiple transmission assets associated with its Arroyo Solar Project to the Public Service Company of New Mexico (PNM), PFR has learned.
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Geothermal development and technology company Fervo has raised $244 million in funding led by shale oil and gas business Devon Energy.
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Colorado utility Mountain Parks Electric (MPE) has inked a 20-year power sales agreement (PSA) with wholesale power provider Guzman Energy.
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Germany-headquartered global asset management group IKAV and asset manager Canadian Plan Pension Investment Board (CPPIB) will each obtain at least 10% stake in California Resources Corporation from owners BlackRock and Vanguard Group.
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Investment bank Moelis & Company has hired Stephen Trauber, formerly Citi's global head of energy transition, as chairman and global head of its energy and energy transition team.
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Major American airline Southwest has launched its sustainable aviation fuel (SAF)-focused Southwest Airlines Renewable Ventures (SARV).
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Renewable real estate investment fund SolaREIT has secured an additional $30 million in revolving credit from Atlantic Union Bank.
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Vertically integrated distributed energy (DG) platform and financing provider Scale Microgrids has selected Nuno Gonçalves as its new chief financial officer.
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Tri-State Generation and Transmission Association has received a key state-level regulatory approval from the Colorado Public Utilities Commission (CPUC) on the $75 million sale of its transmission facilities, contracts, and assets to United Power, PFR has learned.
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The Department of Energy (DOE) has conditionally awarded $366 million to 17 projects that aim to improve the transmission and electrical distribution of power in rural and remote areas across the US.
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EDF Renewables North America has inked a 20-year power purchase agreement (PPA) with Southern California Public Power Authority (SCPPA) to receive 125MW of EDF's 300MW Bonanza solar and storage project in Nevada.
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Mercedes-Benz HPC North America has hired several executives in a push to create a network of electric vehicle (EV) charging stations across the country.
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Residential solar technology and energy services provider SunPower Corp’s chief executive officer (CEO) Peter Faricy has left the company, effective 26 February 2024.
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PJM Interconnection has appointed Eversource Energy's senior vice president of engineering as its executive VP of operations.
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The Bureau of Ocean Energy Management (BOEM) has released the final environmental review of the 2.6GW New England Wind project off Massachusetts. The project is owned by Park City Wind, a subsidiary of Avangrid, and is expected to power over 900,000 homes.
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Sunrock Distributed Generation, a commercial solar and DG developer and asset manager, has hired Sunlight Financial co-founder Wilson Chang as its chief executive officer.
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North American energy and water industries consultancy firm Concentric Energy Advisors has added Mark Karl as an executive advisor.
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Mitsubishi Power Americas' battery energy storage systems (BESS) division has been spun into a standalone business — Prevalon Energy.
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Capital Power has closed on its acquisition of 2 contracted combined-cycle US gas generation facilities from Beal Financial Corporation subsidiary CSG Investments.
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The Bureau of Ocean Energy Management (BOEM) has approved the construction and operations plan (COP) of 800MW Empire Wind 1, an offshore wind farm owned by Equinor in the New York Bight region. The BOEM's decision was the final step before the project could commence construction.
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TPG-backed Matrix Renewables has inked $283 million in project financing and production tax credit (PTC) transfers for its 200MW solar project in Idaho.
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Residential solar company SunPower has secured over $300 million in project financing commitments from Apollo, Atlas SP Partners, and Hannon Armstrong Sustainable Infrastructure Capital (HASI).
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Lightsource BP has secured $348 million in project financing for 2 Texas solar projects from a consortium of banks.
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Arevon Energy has secured more than $1 billion in financing commitments for its Eland 2 solar-plus-storage project in Kern County, California.
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Florida Municipal Power Agency (FMPA) has closed on the first of 3 project acquisitions totaling 339 MW natural gas-fired capacity, from numerous utilities, PFR has learned.
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Infrastructure and real assets-focused investment firm Stonepeak will acquire a 50% interest in Dominion Energy’s Coastal Virginia Offshore Wind project.
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NorthRenew Energy is to sell its Arco Wind and Solar facility to US-based grid operator PacifiCorp.
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Strata Clean Energy has secured $559 million for its 255MW/1,020MWh Scatter Wash energy storage project in Arizona.
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PLT Energy US, a subsidiary of Italian renewable and energy storage group PLT Energia (PLT), has entered into a joint venture (JV) with Glacier Global Partners’ subsidiary GGS Energy.
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Schneider Electric has committed to invest around $80 million in a portfolio of 4 Texas-based clean energy projects through a tax credit transfer agreement with Engie North America.
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Radial Power has inked $225 million in its first debt financing from Atlas SP Partners to grow its distributed generation, commercial & industrial, and community solar project pipeline.
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Blackstone-owned Tallgrass Energy Partners will offer $400 million aggregate principal amount of senior secured notes due 2029 in a private placement.
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French energy business TotalEnergies has closed on the $635 million acquisition of 3 gas-fired power plants in Texas from TexGen, PFR has learned.
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When the tax equity market was transformed in 2023 with transferability, it was not only the tax equity market and energy players that were excited about the new credit capabilities. The guidelines released in June 2023 opened the market to any other investors with tax appetites, and tax transfer platforms hope to streamline the process for new investors.
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Allete has expanded its 5-year US green energy investment plan by $1 billion alongside its successful 2023 revenue reports. The plan now includes $4.3 billion for its utility division, Minnesota Power, to grow its renewable energy exposure.
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EnerSmart is to sell a pair of 3MW battery energy storage system (BESS) facilities sited in Chula Vista, California to renewables investment firm Kendall Sustainable Infrastructure (KSI), PFR has found.
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Construction giant Kajima has invested in a Canadian geothermal energy technology company, Eavor Technologies.
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Against challenging clean energy targets the US offshore wind energy continues to forge ahead. Since the start of the Biden-Harris administration, the Department of the Interior has approved the nation's first 6 commercial-scale offshore wind energy projects.
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Battery manufacturer Ascend Elements has raised $162 million in equity investments from Just Climate, Clearvision Ventures, and IRONGREY.
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A subsidiary of the Spain-based renewables developer Greenalia has closed $200 million in 3-year credit facilities to support its US solar and wind project pipeline.
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US startup Sage Geosystems has raised $17 million in its Series A round, which will fund the construction of a 3MW commercial geopressured geothermal system (GGS) facility in Texas.
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Delta Utilities – a portfolio company of Bernhard Capital – has today (20 February) entered an agreement with CenterPoint Energy to acquire natural gas distribution networks.
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Macquarie Asset Management has today (20 February) agreed the sale of Lordstown Energy Center to Arclight Capital vehicle ArcLight Fund VII.
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Electricity and power generation company Vistra has received approval from the Federal Energy Regulatory Commission (FERC) to acquire Energy Harbor. It is the final approval needed in a $6.3 billion merger that will rebrand Vistra as renewables mega firm Vistra Vision.
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Sustainable infrastructure company Generate Capital is to sell a 13.45% stake in Pine Gate Renewables to the Healthcare of Ontario Pension Plan Trust Fund (HOOPP), PFR has found.
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Plenitude’s US subsidiary Eni New Energy US has closed on its buy of an 80% equity stake in 3 operating solar projects from global energy business EDP Renováveis (EDPR), PFR has learned.
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New Fortress Energy has completed sale of its 20% equity interest in global maritime infrastructure company Energos Infrastructure to Apollo-managed funds.
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Residential solar company SunPower has raised $175 million as it plans to mitigate threats of default with long-term financial changes.
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Allete Power has issued a request for proposals (RFP) for up to 400MW of wind energy to come online by the end of 2027.
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Plus Power has closed $98 million in tax equity investment from Greenprint Capital Management for its 200MW/400MWh Ebony Energy Storage facility in Comal County, Texas.
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Amazon Web Services (AWS) has added Jason Selfe to its power & utilities team in a business development role.
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National Fuel Gas Company (NFG) has entered a multi-bank $300 million unsecured term loan credit facility, PFR has learned.
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Blackstone is looking for buyers for a stake in its portfolio company Aypa Power. PFR understands Blackstone is looking to sell a minority stake and is in talks with multiple potential buyers.
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Asset management firm Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) will acquire a majority stake in the Sharp Hills wind farm from EDP Renewables subsidiary EDP Renewables Canada (EDPR Canada).
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The US Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management (FECM) will deploy an additional $100 million to aid industrial carbon dioxide removal.
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The Bureau of Ocean Energy Management (BOEM) has designated 2 final Wind Energy Areas (WEAs) offshore Oregon as it moves closer to a lease sale.
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The Department of Energy (DOE) has picked 3 projects that will receive up to $60 million to demonstrate the scalability of enhanced geothermal systems.
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Eversource Energy has agreed to divest to Global Infrastructure Partners (GIP) its 50% stake in its remaining 2 offshore projects that are co-owned with Ørsted.
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A trio of Boston-based energy investors has launched Inyarek Partners to develop energy transition assets, completing its inaugural investment into renewable natural gas (RNG) platform Redtail Renewables.
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Diversified clean energy company, CleanCapital, and investment-grade battery energy storage systems developer, Available Power, have entered a joint venture to build a pipeline of US-based distributed energy storage projects.
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Independent power producer (IPP) Urban Grid has hired Eivind Osterhus as chief financial officer and Erica Engle as chief commercial officer.
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Verde Clean Fuels and a Diamondback Energy subsidiary have signed a joint development agreement for a facility to produce commodity-grade gasoline using natural gas feedstock supplied from Diamondback’s operations in the Permian Basin.
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US based renewable energy developer owner and operator Longroad Energy has closed on sale of its 108MWdc Foxhound Solar project to Dominion Energy, PFR has learned.
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Arevon Energy, the renewable energy developer, owner, and operator, has reached financial close for the 200MW/800MWh Condor Energy Storage Project.
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Law firm Skadden has rehired the former commissioner, chairman and general counsel of the Federal Energy Regulatory Commission (FERC).
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Standard Solar is to acquire an 84MW community solar portfolio in Illinois from renewables company New Leaf Energy.
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Amazon has signed a power purchase agreement (PPA) to source energy from an Avangrid wind farm located in Gilliam County, Oregon.
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Ormat Technologies and Hawaiian Electric have locked in a 46MW geothermal power purchase agreement (PPA) until 2052.
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Sandow Lakes Energy Company is preparing to construct a 1.2GW natural gas-fueled power plant in Texas.
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To bolster California's offshore wind industry state legislators proposed a $1 billion bond act to help pay for the expansion of ports.
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Foss & Company has penned a $118.5 million tax equity investment in the Longbow BESS project, a battery energy storage system (BESS) located in Brazoria County, TX.
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Battery energy storage system (BESS) developer, owner and operator SMT Energy has sold a portfolio of nearly 400MW storage projects to UBS Asset Management.
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Developer and grid-scale energy storage operator Jupiter Power has hired former Invenergy executive Jesse Campbell as its chief financial officer (CFO).
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Evergy will acquire a 22.2% interest stake in 655MW natural gas-fired facility Dogwood Energy, PFR has learned.
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Battery energy storage system (BESS) developer, owner and operator SMT Energy has sold nearly 400MWs of storage projects to UBS Asset Management.
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A Tenaska affiliate has acquired 6 natural gas generation facilities from IMG Energy Solutions.
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Toyota Boshoku America (TBA) has signed a 12-year renewable energy certificate (REC) agreement with Clearway Energy Group for part of its 452MW Texas Nova solar farm.
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Alliant Energy’s Wisconsin Utility, Wisconsin Power and Light Company (WPL), has closed on the sale of an 18% ownership stake in the 723.2MW natural-gas combined-cycle generation and 4MW solar hybrid project West Riverside Energy Center, PFR has learned.
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Sumitomo Corporation of America has partnered with renewable fuels technology company Strategic Biofuels to develop a sustainable aviation fuel (SAF) facility in Louisiana. Sumitomo is set to pool together a consortium of banks and lead the financing of the project in the near future.
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SolAmerica Energy has agreed to procure 205MW of solar modules from First Solar.
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Nautilus Solar Energy has closed on its acquisition of a 12.7 MW portfolio of community solar projects from SolAmerica Energy.
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New Energy Equity, a solar developer subsidiary of Allete, has appointed Jackie Chambers as chief investment officer.
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Portland General Electric (PGE) closed on its acquisition of a 208MW stake in the Clearwater Wind Farm from developer NextEra, PFR has learned.
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Barely a month into the new year and infrastructure and energy investment managers have dominated headlines. Global Infrastructure Partners – and all $100 billion of its AUM – got absorbed into fund management behemoth BlackRock. Meanwhile, General Atlantic bolted on $12.5 billion sustainable infrastructure firm Actis onto its beefy $86 billion body of managed assets.
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The Department of Energy (DOE) has opened a request for proposals (RFP) for the second round of its utility-scale transmission upgrade program, with $1.2 billion available to fund projects.
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Canadian Solar subsidiary Recurrent Energy has closed a $160 million project financing for its 127MW Bayou Galion Solar Project in Louisianna.
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NextEra Energy led a $36 million investment round in Avnos, a startup developing a novel hybrid direct air capture (HDAC) technology for carbon dioxide removal.
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Pivot Energy and Radiance Solar are teaming up on a portfolio of 5 community solar projects in Illinois, with a combined capacity of 19MW.
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Tokyo Gas has continued its move into the US energy markets with an investment in a subsidiary of ARM Energy.
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Brookfield Asset Management (BAM) has raised $10 billion at first close of its second energy transition fund with a fundraising target of $17 billion.
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Spire is offering $350 million in 5.3% senior notes due 2026 to help fund the acquisition of the MoGas and Omega pipeline systems.
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Industrial power company One Energy Enterprises has appointed Tom Russell as its chief financial officer (CFO) ahead of its New York Stock Exchange (NYSE) listing.
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Battery-focused renewable energy company Spearmint Energy has closed a $47.5 million project finance term loan from global financial services provider Manulife.
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Portland General Electric (PGE) has called for bids on clean dispatchable capacity via an all-source request for proposal (RFP).
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BP Energy Partners-owned Cryopeak LNG Solutions has merged with the Energy & Minerals Group-owned Ferus Natural Gas Fuels, combining their LNG production and distribution technologies.
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Infrastructure investment manager Homecoming Capital has hired former AB CarVal investor Shaya Greenberger as vice president.
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Renewables company BrightNight has made 2 senior-level appointments to its asset management and construction teams.
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Clifford Chance has hired 2 US energy and infrastructure partners, Ty'Meka Reeves-Sobers and Marcia Hook, to join the law firm's Houston and Washington, DC offices, respectively.
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Generate Capital closed its latest capital raise, with new investments totalling $1.5 billion, last week (31 January).
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Standalone energy storage systems developer, owner and operator GlidePath Power Solutions (GlidePath) has hired former NextEra executive Vijay Singh as its chief commercial officer.
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Midstream power company NGL Energy Partners has closed on a $2.9 billion refinancing.
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Residential solar company SunPower has received waiver extensions from its lenders and $20 million from its majority shareholders as it plans to mitigate threats of default with long-term financial changes.
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Sempra Infrastructure has signed a memorandum of understanding (MoU) with the Japan Bank for International Cooperation (JBIC) that will see the pair develop energy transition projects.
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Independent power producer and asset manager Greenbacker has continued to add to its leadership team with appointment of Christopher Smith as chief financial officer and Carl Weatherley-White as head of capital markets.
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Southern Company Gas subsidiaries Virginia Natural Gas and Chattanooga Gas have entered into their first renewable natural gas agreement.
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NET Power has hired former Nikola Motor Company managing director Brian Rappaport as its head of origination, PFR has learned.
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H2 Energy Group has partnered with the Redding Rancheria Tribe reservation to develop a green hydrogen production facility.
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Enchanted Rock, a microgrids developer, has appointed Paul Froutan as its chief operating officer (COO).
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Altus Power has closed on its acquisition of 84MW commercial-scale solar arrays from Vitol for around $118 million.
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Scout Clean Energy, a Brookfield Asset Management portfolio company, has signed a virtual power purchase agreement (VPPA) with not-for-profit healthcare system manager AdventHealth for 90MW from a Texas wind farm.
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Nuveen has teamed up with Aiga Capital Partners on its $200 million term loan to battery energy storage system (BESS) developer Spearmint Energy.
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Energetic Capital has hired Steven Varady as senior vice president in the company's tax and transactional practice, PFR has learned.
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Law firm Akerman has announced the formation of 3 energy and infrastructure sub-practices.
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Avangrid is readying its first renewable energy project in Oklahoma, the 147.5MW Pontotoc Wind project.
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Swedish industrials business SKF has signed 2 Renewable Energy Certificate (REC) purchase agreements in North America.
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Renewable energy provider Cordia has closed on its acquisition of Pittsburgh, Pennsylvania-sited energy systems from Essential Utilities for $165 million.
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Vesper Energy has closed $590 million in financing for its 600MW Hornet Solar project.
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Giora Salita has joined the executive team of TPG-backed global renewable energy platform Matrix Renewables as chief operating officer based in Miami, Florida.
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Clean energy tax credit transfer platform Crux has closed a $18.2 million series A funding led by venture capital firm Andreessen Horowitz.
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Quantum Capital Group has partnered with Humble Midstream II to fund the company’s continuing development and operation of US-based energy infrastructure projects.
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Dominion Energy has secured final approval from the Bureau of Ocean Energy Management (BOEM) for the construction and operations of its 2.6GW Coastal Virginia Offshore Wind (CVOW) project.
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Tokyo Gas subsidiary Tokyo Gas America has closed on its $216 million acquisition of the Longbow battery energy storage (BESS) project from Clean Capital Partners.
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JP Morgan-backed independent power producer Onward Energy has hired the former chief executive of the California Independent System Operator (CAISO) to replace president and CEO, Steve Doyon, who has retired.
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Biofuels company POET and Summit Carbon Solutions have entered into a partnership to utilise Summit's carbon capture technology to reduce emissions created in the biofuel production process.
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Emre Erkovan has been appointed as CIBC Capital Market’s global investment banking director, overseeing energy, infrastructure and transition sectors.
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Nuclear company Westinghouse has hired former vice president of strategy and innovation at Kairos Power, Lou Martinez Sancho, as its chief technology officer.
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Canadian independent power producer Innergex Renewable Energy, along with its community partners, has won 2 wind projects totaling 400MW in Hydro-Québec's request for proposals (RFP).
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Midstream power company NGL Energy Partners has increased its senior secured notes offering to $2.2 billion.
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Utility-scale developer RedWind Renewables has sold 2 250MW solar PV and BESS projects to global renewable energy business Greenvolt Power.
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Danish energy company Ørsted has terminated its offtake agreement with the state of Maryland for its 2 Skipjack Wind projects as it re-evaluates project plans amid current market conditions.
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BP and Equinor have divided their offshore wind joint venture projects with BP claiming full ownership of Beacon Wind and Equinor taking ownership of Empire Wind.
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The New York State Energy Research and Development Authority (NYSERDA) has closed its solicitation process for its fourth offshore wind auction. Several companies have announced their proposals, including Equinor, RWE, National Grid, and Ørsted.
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Enviri Corporation company Clean Earth has entered a 5-year offtake agreement with Veolia North America for waste-to-energy from a thermal facility sited in Southwest Arkansas.
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The City of Edmonton, Alberta and Canadian-based Varme Energy have struck a waste-to-energy offtake deal.
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Michael Peist, managing director of project and structured finance in Investec's power and infrastructure team has stepped down, PFR has learned.
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Renewables developer Swift Current Energy has upsized its $225 million revolving credit facility to $312.5 million to fund its US project pipeline.
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Tax equity investor Foss & Company has completed its second tranche of its tax equity partnership with community solar developer Nautilus Solar, adding a $72 million investment to a portfolio of solar projects.
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Ørsted is to become the sole owner of the 924MW Sunrise Wind project after buying out joint venture partner Eversource Energy.
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Alliant Energy’s Wisconsin Utility, Wisconsin Power and Light Company (WPL), is diluting its interest in the 723.2MW natural-gas combined-cycle generation and 4MW solar hybrid project West Riverside Energy Center, PFR has learned.
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Greenwood Sustainable Infrastructure (GSI) has teamed up with Ocean Man First Nation to build a 100MW solar project in Saskatchewan, Canada.
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Utility-scale solar developer Volt Energy Utility has appointed Jean Nelson-Houpert as chief financial officer (CFO).
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Consortiums led by Invenergy and TotalEnergies were awarded offshore wind projects with conditional contracts of 3.74GW capacity as the New Jersey Board of Public Utilities (NJBPU) closes its third-round tender.
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Commercial energy developer Green Lantern Solar has named Dave Carpenter as vice president of development.
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Plug Power has started operations at the largest liquid green hydrogen plant in the US in Georgia after 18 months of construction.
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Solar real estate investment fund SolaREIT has launched a battery energy storage systems (BESS) lending platform, to be led by recently hired senior vice president of business development, Nicole Wolf.
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Renewables company Origis Energy has closed a $317 million tax equity project financing with JP Morgan for 2 utility-scale solar-plus-storage projects.
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Capricorn Investment Group, the $9 billion investor, has made a minority investment in sustainability-focused private equity firm SER Capital Partners.
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Community solar provider Nexamp has named its Chicago, Illinois office as its second national headquarters, alongside its established headquarters in Boston, Massachusetts.
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Canadian Solar subsidiary and global solar and storage developer, Recurrent Energy, has secured a $500 million preferred equity investment from a fund managed by BlackRock’s climate infrastructure business.
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United Power is to buy its transmission facilities, contracts, and assets, from Tri-State Generation and Transmission Association (Tri-State) for $75million in a transaction critical for the utility's split from the electric cooperative, PFR has learned.
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Deriva Energy, formerly Duke Energy Renewables, has acquired the 140MW Spanish Peaks Solar project sited in Las Animas County, Colorado from global solar power developer JUWI.
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Solar panel manufacturer First Solar has acquired a 1.2 million square foot facility in Troy Township, Ohio.
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Updated to include:
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The US Treasury Department has released additional guidance on tax credits for electric vehicles (EVs) and associated charging technology, including alternative refueling stations.
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Motor fuel giant Sunoco has agreed to acquire independent pipeline operator NuStar in an all-equity transaction valued at $7.3 billion.
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The US Department of Energy (DOE) has selected 3 firms to help establish a market for the buying and selling of green hydrogen from its Regional Clean Hydrogen Hubs (H2Hubs).
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CorEnergy Infrastructure has closed on sale of its MoGas and Omega pipeline systems (MoGas System) to Spire subsidiary Spire Midstream.
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RWE Clean Energy has promoted Andrew Flanagan, the company's former chief development officer, to chief executive.
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Crowell & Moring has hired Ruta Kalvaitis Skučas as partner in the law firm's environment, energy, and natural resources practice group.
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The Bureau of Land Management (BLM) will begin the first of 8 oil and gas lease sales this year with the auction of 19 Wyoming-sited parcels covering 13,858.91 acres on 5 March.
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Azure Sustainable Fuels is set to develop Sustainable Aviation Fuel (SAF) production facilities in British Columbia, Ontario, and Manitoba, Canada, after receiving funding from several Canadian investment institutions.
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The Bureau of Land Management (BLM) has announced its plan for solar projects across the western US through an updated roadmap as part of its solar development plan for the region.
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King & Spalding has hired energy and construction lawyer, Terra Mareck Cothran, to become a partner at its Houston office.
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Bloomberg has signed a 15-year power purchase agreement (PPA) with US-based clean energy developer Ørsted, claiming 80MW of the renewable energy generated by its 471MW Mockingbird Solar Center.
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Capital Power Corporation and Ontario Power Generation (OPG) have joined forces to assess the development of grid-scale, small modular reactors (SMR) in Alberta, Canada.
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E-fuel company INERATEC has closed a $129 million Series B funding to launch its industrial-scale technology production for projects across the US and abroad.
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Morgan Stanely-backed SolMicroGrid, a microgrid company focused on commercial and industrial (C&I) end markets, has hired a former Safari Energy executive as its chief executive.
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Apex Clean Energy and Korean energy company SK Gas and its green energy development business SK D&D are partnering up to own US-based energy storage facilities.
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Scale Microgrids is set to acquire 500MW of distributed solar and storage projects across the US from Netherlands-based global clean energy developer Gutami.
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Clifford Chance announced today, 16 January 2024, the hiring of counsel Joshua Bernard to its corporate M&A practice in Houston.
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Partners Group subsidiary Exus North America has agreed to purchase Dutch commodity trader Vitol’s 244MW Pennsylvania-based 3-project wind portfolio, PFR has learned.
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LS Power has agreed to acquire an 810MW natural gas-fired power plant sited in Gettysburg, Pennsylvania from an affiliate of Platinum Equity.
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New Jersey-based solar company Infiniti Energy has closed a $89.2 million structured financing to develop its commercial and industrial (C&I) project pipeline.
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Aspen Power, a renewable developer backed by Carlyle, has closed $241 million in 3 financing agreements with JP Morgan, Lombard Odier, and MUFG to support its solar energy project pipeline.
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Octopus Energy company Sky Renewables is set to purchase the Ohio-sited 80MW Nestlewood and Pennsylvania-sited 16MW Gaucho solar projects from Vesper Energy, PFR has learned.
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BlackRock has agreed to acquire Global Infrastructure Partners (GIP) for about $12.5 billion in cash and stock, in a move that further consolidates the infrastructure fund market.
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Clean energy-focused point-of-sale investment firm Sunlight Financial has, through its partnership with Cross River Bank, sold a pool of approximately $300 million in solar loan assets.
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Plenitude’s US subsidiary Eni New Energy US has agreed to purchase an 80% equity stake in an operational three-project solar portfolio from global energy business EDP Renováveis (EDPR).
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Financial services firm Barclays has launched a new Energy Transition Group in its corporate and investment bank, focusing on renewable and energy transition deals.
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Hannon Armstrong Sustainable Infrastructure Capital (HASI) has doubled its additional 2027 green senior unsecured notes in aggregate principal of 8% to $200 million.
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Macquarie-backed Galehead Development has hired Dru Steubing, the former vice president of development at Apex Energy, as chief development officer.
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Gas utility Spire and KC Water have moved forward on their partnership to create the first Kansas City, Missouri renewable natural gas (RNG) facility.
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Despite renewables grabbing the headlines, emergency weather situations and the increased energy demand in cities with rapidly rising populations have been catalysts for a “gas renaissance” in the M&A power space.
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Renewables company BayWa r.e. has appointed the former executive vice president of Soligent, Ken Lima, as its new chief executive officer of the company's US solar distribution business.
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Solar development company TurningPoint Energy has announced the appointment of Salar Naini as president, as former president Jared Schoch moves into a chairman role.
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GE-owned power plant EFS Parlin has closed on the sale of all of its interconnection rights and started the decommissioning process of its 123.5MW natural gas facility following bankruptcy.
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Over the course of the last year, there were many surprises for the renewable project finance sector. From the market's quick reaction to the June tax transferability guidelines to the deferred success of offshore wind projects, 2023 brought new financing structures and revealed weak points in the sector.
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Investment firm ArcLight Capital Partners has formed a new division to oversee the commercial and operational activities of ArcLight's power infrastructure funds.
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Independent power producer (IPP) Pathway Power has entered a $25 million growth capital partnership with Tokyo-based independent renewables business Renova.
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Vistra Corporation is offloading its Richland and Stryker facilities to Rockland Capital in an effort to complete its pending $6.3 billion merger with Energy Harbor, creating renewables mega firm Vistra Vision.
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Brookfield Renewable has issued C$400 million (US$298.5 million) of medium-term loans to pay for future green investments and repay indebtedness incurred in previous ventures.
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Hannon Armstrong Sustainable Infrastructure Capital (HASI), will privately offer $100 million in aggregate principal of 8% green senior unsecured notes.
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The Bureau of Ocean Energy Management (BOEM) has drafted the environmental review of future development on the six lease areas awarded in the New York Bight tender in 2022.
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Spire has named Scott Doyle its executive vice president and chief operating officer, effective January 15, 2024.
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Battery storage developer Key Capture Energy and impact investment firm Enhanced Capital have closed an investment tax credits (ITC) transfer agreement with a third party.
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Oil and gas multinational Shell has signed a 20-year liquid natural gas (LNG) sale and purchase agreement to purchase 2 million tons of LNG from Ksi Lisims LNG's British Columbia-based project per year.
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Meridian Clean Energy has upped its stake in 850MW simple-cycle natural gas plant Sentinel Energy.
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Solar manufacturing company Qcells has closed an agreement with Microsoft to provide 12GW of solar modules and EPC services over the next 8 years.
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Green data center developer Digital Power Optimization (DPO) has closed a power purchase agreement (PPA) with an unnamed multinational renewables developer with over 150MW wind farms in Texas.
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Point-of-sale finance firm Sunlight Financial has named current chief operating officer (COO) Timothy Parsons as the company’s new chief executive.
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Xcel Energy has commenced construction on its two initial phases of the 460MW Sherco Solar project, with an additional 250MW co-sited solar array is pending permit approval, as it replaces a coal-fired plant in Minnesota.
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Canadian-based carbon capture business Svante Technologies (Svante) has appointed Justine Fisher as its new chief financial officer (CFO).
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Community-solar and storage developer REC Solar has appointed former ForeFront Power chief executive as its executive chairman.
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Renewable developer BrightNight has closed a $375 million corporate credit facility to complete the development of its US solar, energy storage, and integrated technologies portfolio.
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Energy giants Equinor and BP have canceled their power purchase agreement (PPA) with New York to provide 1.26GW from the proposed Empire Wind 2 project.
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The North American division of Italy’s Enel has closed on its $271 million sale of all US geothermal assets and several solar parks to Ormat Technologies.
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Spearmint Energy has reached completion and commercial operation of its West Texas 150MW battery energy storage system (BESS) Revolution.
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Williams has closed on its $1.95 billion acquisition of a portfolio of natural gas storage assets from an affiliate of Hartree Partners.
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Hydrogen company Plug Power has completed its electrolyzer system at Amazon's Aurora, Colorado, fulfillment center. A first for the tech company, the 1MW low-carbon hydrogen production system can fuel up to 400 forklift trucks at the site.
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Renewables operator ERG has agreed to partner with independent US green power company Apex Clean Energy Holdings to manage and potentially expand a currently operating portfolio of wind and solar projects.
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Altus Power has closed a $100 million credit facility from Goldman Sachs Asset Management and Canada Pension Plan Investment Board's (CPPIB) subsidiary, CPPIB Credit Investments III.
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Capital Power has completed its $97.5 million acquisition of the Frederickson 1 Generating Station from Atlantic Power & Utilities.
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Canadian power provider Hydro One will commence an internal and external search this summer for a chief financial and regulatory officer as incumbent Chris Lopez leaves June 30, 2024.
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Allianz Capital Partners' former head of renewables, Americas, has been hired by Greenbacker Capital as the fund manager's head of infrastructure.
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American Electric Power and PNM Resources have agreed to sell a 50% interest in New Mexico Renewable Development (NMRD) to Exus North America.
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Origis Energy has closed a $344 million project financing from MUFG for the developer's 200MW / 200MWh Gold Triangle I solar-plus-storage project in Lowndes County, Mississippi.
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PNM Resources and Avangrid have terminated their $4.3 billion merger agreement.
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Former Riverstone Credit Partners founders have launched energy credit investment manager Breakwall Capital.
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Goldman Sachs has promoted Emily Hashimoto to managing director of the infrastructure investment banking team in New York City.
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Blackstone Infrastructure Partners subsidiary BIP Blue Buyer has completed its $2.16 billion acquisition of a 19.9% equity stake in NIPSCO.
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First Solar, a leading solar manufacturer, has completed two Tax Credit Transfer Agreements (TCTAs) to sell $500 and $200 million in Advanced Manufacturing Production tax credits to financial services company Fiserv.
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The US Treasury Department has released the proposed green hydrogen tax credit guidelines, 45V, to be available for public comment for the next 60 days. The Biden-Harris administration hopes the credits will provide over $140 billion in revenue by 2030
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Commercial-scale provider of clean electric energy provider Altus Power has closed on the acquisition of Project Hyperion which consists of 121MW of solar assets, primarily located in North and South Carolina.
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Copia Power, backed by investment firm Carlyle, has closed a $1.2 billion construction-to-term loan for its Harquahala Sun 1 and Harquahala Sun 2 solar-plus-storage projects in Maricopa County, Arizona.
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Southwest Gas Holdings has appointed William “Bill” Fehrman as president and chief executive of Centuri Group, effective January 12, 2024.
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Allete and Grid United's subsidiary, North Plains Connector, have signed development agreements on the North Plains Connector project, an approximately 400-mile high-voltage direct-current (HVDC) transmission line from central North Dakota to Colstrip, Montana.
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Global Partners has completed the acquisition of 25 liquid energy terminals from Saudi Aramco-subsidiary Motiva Enterprises.
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The state of Delaware has begun official negotiations with offshore wind developer US Wind, which is developing two wind farms off Maryland, to provide lease areas for the farms' undersea cables and onshore substations.
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Siemens Energy has signed a memorandum of understanding with Santa Clara, California-based fast fission clean power company Oklo to become its preferred supplier as it scales up its advanced fission power plants.
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Hull Street Energy has closed on a $160 million credit facility to finance its 855 MW Milepost Power Texas portfolio, Mesquite Generation.
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New Jersey-based utility South Jersey Industries, energy transition investment firm Captona, and renewable natural gas (RNG) developer RNG Energy Solutions have entered into a partnership to create one of the largest anaerobic digestor projects.
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Crescent Point Energy has closed on its acquisition of Canadian Riverstone Holdings-owned oil and gas business Hammerhead Energy.
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California Resources Corporation and its carbon management business, Carbon TerraVault, have received the first draft of Class VI well permits for underground carbon dioxide (CO2) injection and storage.
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Battery storage IPP On.Energy has inked $40 million in construction and debt facilities with Live Oak Bank for its 80MW ERCOT portfolio.
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Bank of America and clean energy real estate company Radial Power have signed an $80 million tax equity financing agreement for a 96MW portfolio of distributed generation, commercial & industrial, and community solar projects.
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Energy storage business Convergent Energy and Power has appointed Donald Jenkins as its new chief operating officer (COO).
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Transaction risk insurance broking and advisory firm Birch Risk Advisors has taken on former NovaSource Power Services chief executive officer Troy Lauterbach as renewable energy advisor.
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BP-funded Advanced Ionics is growing its executive team with two green hydrogen professionals as the company plans its generation pilot programs launch for next year.
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The energy finance team at First Citizens Bank and Jupiter Power have closed $65.2 million in financing for the energy storage developer's 200MW/400MWh battery energy storage system in Houston, Texas.
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Cadiz has received the final regulatory nod from the US Bureau of Land Management (BLM) to complete its acquisition of the 220-mile pipeline from El Paso Natural Gas (EPNG).
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Solar and storage developer Adapture Renewables has signed three agreements to sell renewable energy credits (RECs) from 330MW of solar generation in Illinois and Arkansas to technology company META
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Advantage Capital and Sabanci Renewables, a subsidiary of Sabanci Holding, have closed a $185 million tax equity financing to fund the developer’s 272MW Cutlass Solar II Project outside of Houston, Texas.
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Southern Company subsidiary Georgia Power Company (GPC) will sell multiple specified transmission lines to Georgia Transmission Corporation (GTC), PFR has learned.
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Canadian investment giant Brookfield acquired Duke Energy’s unregulated utility scale commercial renewables business at an enterprise value of approximately $2.8 billion – a deal that showed they were the exception to the mega M&A rules this year.
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The US Treasury has revealed the guidelines on the 45X advanced manufacturing tax credit to incentivize the creation and use of a domestic renewables supply chain.
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US-based utility and renewable energy developer Allete is contemplating the sale of its business, and has enlisted JP Morgan Chase for the potential sale process.
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Greenbacker has closed a $92 million financing agreement with BMO Financial Group to construct its largest standalone BESS project — 120MWh Holtville BESS — and various community solar developments.
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Natural gas marketer ARM Energy Services and Rabobank have increased the revolving credit capacity on a senior secured credit facility by an additional $50 million to $160 million.
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Renewables and utility project developer Invenergy has opened a regional office in Montreal, becoming the company’s Quebec-based hub for Eastern Canada.
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NextEnergy Capital has finalised the first investment – a 100MW utility-scale solar project in Highlands County, Florida – from its latest fund.
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Westbridge Renewable Energy has closed the sale of its 230MW Vulcan County, Alberta-sited solar power plant project known as Georgetown Solar to a subsidiary of Mytilineos Energy & Metals.
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Global investment bank Houlihan Lokey has hired former RBC executive Rob Kordas as managing director of its industrials group.
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The state of Louisiana has approved its first-ever offshore wind farm agreements for projects in state waters, inking contracts with Vestas and Mitsubishi subsidiaries.
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Unit Corporation has completed its previously announced sale of certain non-core oil and gas assets sited in the Texas Panhandle for net cash proceeds of $50 million at closing.
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Sustainable aviation and carbon emissions-derived fuels production company Dimensional Energy has successfully closed its $20 million Series A funding round.
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Renewables developer Pivot Energy is developing six community solar projects totaling 33MW across Illinois, working alongside fashion company Tapestry, which will purchase the projects’ Impact Renewable Energy Credits (RECs).
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Generate Capital has hired William Sonneborn as the firm’s new president, bringing his several decades of asset investment experience to the company.
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Grant County, Washington’s Public Utility District No. 2 (Grant PUD) has begun an all-source request for proposals (RFP) to fulfill its supply need of 300MW of firm capacity and energy.
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PJM Interconnection awarded Potomac Edison and Mid-Atlantic Interstate Transmission (MAIT) 3 transmission projects, totaling more than $800 million, in Pennsylvania, Maryland, Virginia, and West Virginia.
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US technology giant META has entered into a 20-year power purchase agreement (PPA) with Ørsted’s 300MW Eleven Mile Solar Center in Pinal County, Arizona.
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The US Air Force Research Laboratory’s Space Vehicle Directorate has selected Westinghouse to power its advanced space research program.
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Mona Dajani has joined Baker Botts as a partner in the law firm's global projects department in New York.
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PJM has selected the MidAtlantic Resiliency Link project proposal from a NextEra subsidiary to address reliability issues in its western grid sections.
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Utility Hawaii Electric Company is negotiating final terms with various developers to add 15 renewable generation projects to its grid, which will aid the state’s retirement of 6 fossil fuel-powered generators.
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Shell subsidiaries Shell Wind Energy and Savion Equity will sell partial ownership stakes in two US-based renewable energy projects to international infrastructure investment manager InfraRed Capital Partners (InfraRed).
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The Bureau of Ocean Energy Management (BOEM) has proposed a Central Atlantic offshore wind lease sale for over 277,000 acres in the waters off of Delaware, Maryland, and Virginia. The sale is expected to take place in 2024.
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Canadian province Newfoundland and Labrador (NL) has signed a memorandum of understanding (MoU) with the federal government to become a lead regulator on offshore wind projects in 16 inland bays in the province.
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Battery storage developer Key Capture Energy (KCE) has hired former EDP Renewables executive Brian Hayes the company’s chief executive, effective January 8, 2024.
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Renewable energy company Ormat Technologies has entered a 25-year power purchase agreement (PPA) with Dominica Electricity Services to develop a 10MW binary geothermal power plant.
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Renewable and utility developer Invenergy has acquired the Atlantic Power Transmission (APT) project from Blackstone, relaunching the New Jersey transmission initiative as Jersey Link, to support New Jersey’s offshore wind goals.
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Generate Capital and electric and low-emission bus manufacturer Blue Bird Corporation have formed Clean Bus Solutions, a joint venture providing electrification-as-a-service to school bus fleets around the US.
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Washinton state-based utility Puget Sound Energy (PSE) will construct a 248MW wind farm in Stillwater County, Montana. The project is expected to become operational in 2025.
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Andrea Lucan has joined Sidley Austin’s Los Angeles office as a partner in the firm’s energy, transportation, and infrastructure group.
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A consortium including Sunstone Credit, IGS Ventures, and an affiliate of Greenbacker Capital Management, have closed on the acquisition of residential solar lender Sunlight Financial Holdings following its Chapter 11 restructuring.
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Ørsted’s 132MW South Fork project has become the first offshore wind farm to plug into New York’s power grid, and Vineyard Wind completed its first five wind turbines as the projects go head-to-head to become the first full utility-scale offshore wind farm in the US.
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Small modular nuclear reactor and fuel business X-Energy Reactor Company (X-energy) has completed a $80 million Series C financing round.
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EV charger manufacturing company DG Matrix has finalized a multi-year partnership with sodium-ion battery producer Natron Energy to accelerate the deployment of charging infrastructure.
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Mammoth Energy Services subsidiary Cobra Acquisitions will transfer around $54.4 million of its outstanding receivables with the Puerto Rico Electric Power Authority (PREPA) to the SPCP Group for $46.3 million.
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Waste management and renewable fuel developer Dynamic Renewables has hired the former president of renewable natural gas (RNG) at Kinder Morgan as its chief executive.
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Swiss asset manager SUSI Partners is expanding its partnership with developer SMT energy by doubling its Texas battery energy storage (BESS) portfolio to 200MW from 100MW, adding 10 new projects.
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US-based utility-scale solar and battery storage developer Mission Clean Energy has hired John Richardson as vice president of finance.
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Independent power producer Nightpeak Energy (Nightpeak) has closed on its acquisition of NRG subsidiary Saguaro Power Company (Saguaro).
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Energy and storage provider FirstLight has signed a 5-year power purchase agreement (PPA) with the Massachusetts Municipal Wholesale Electric Company (MMWEC) to provide 14 state municipal utilities with 69GWh of hydropower.
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Lummus Technology and Toshiba Energy Systems & Solutions Corporation (Toshiba) have entered an agreement to jointly develop carbon capture projects in the US.
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Deloitte's former ESG Tax Leader has joined RBC Capital Markets as a managing director.
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US-based lithium-ion battery developer and energy storage systems manufacturer KORE Power (KORE), has named industry veteran Michael Canada as its chief operating officer.
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Investment firm Hannon Armstrong Sustainable Infrastructure (HASI) will hold a private offering of $500 million in green senior notes to develop green energy projects.
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Kinetik Holdings will offer $500 million in sustainability-linked senior notes due 2028.
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Renewables developer energyRe has raised a $1.2 billion capital package to develop and construct its 10.5GW solar, wind, and storage portfolio, as well as 500 miles of transmission.
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Utility-scale energy storage developer Malta has closed a funding round with investors from Siemens Energy Ventures and Alfa Laval, as well as existing shareholders, to grow its long-duration solar production and development.
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NextEra Energy Partners, will privately offer $750 million of senior unsecured notes due 2029 via its direct subsidiary, NextEra Energy Operating Partners (NEP OpCo).
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The former chief executive of FirstLight Power, Alicia Barton, will join Vineyard Offshore as chief executive on January 1, 2024.
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Southwest Gas Holdings, (Southwest Gas ) will pursue an initial public offering (IPO) of newly issued Centuri Holdings shares during spring or summer of 2024 as the companies look to separate.
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Although an issue facing the whole energy sector, transmission and grid connectivity for the offshore wind industry has reached a whole new level of complexity.
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Ares Management has acquired organic waste management and biogas company Burnham RNG (Burnham) from Edge Natural Resources.
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Hyundai Mobis has secured a $490 million term loan facility from Australia and New Zealand Bank Group (ANZ) to fund four EV manufacturing plants in Georgia, establishing its presence in the US EV market.
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Commercial solar owner and operator Summit Ridge Energy through its joint venture with Osaka Gas USA, acquired 19 community solar projects in Virginia for $250 million.
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Chesapeake Utilities has completed its acquisition of Florida City Gas, which will henceforth act as a wholly-owned subsidiary of the company.
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BGC Group’s (BGC) subsidiary Poten & Partners, an integrated energy advisory and brokerage, has launched a global advisory team focused on the hydrogen, ammonia and methanol markets.
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SoftBank and Ares Management-backed SB Energy Global has secured $2.4 billion in financing for solar projects that are the first to qualify for the federal tax credit domestic content bonus.
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The Bureau of Land Management (BLM) is set to conduct three oil and gas development lease sales in the states of Wyoming, Mississippi, Nevada, Oklahoma and New Mexico.
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Rubicon Capital Advisors has hired Justin Snyder as senior director in its New York office where he will focus on advisory opportunities across the North American renewable energy, energy transition and infrastructure sectors.
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Calibrant Energy, a joint venture established in 2020 between Siemens and Macquarie, has continued to add to its headcount with the hiring of Sean Rheuben as managing director, strategic origination with business development.
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UK clean energy investment firm Sustainable Development Capital (SDC) has acquired Volery, a US-based private equity firm focused on energy transition.
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Investment manager Kimmeridge Energy Management’s carbon capture-focused vehicle Kimmeridge Carbon Solutions, has teamed up with UK-based decarbonization development business Storegga to advance carbon capture usage and storage (CCUS) projects.
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Infinium's first-of-its-kind efuels project for sustainable aviation fuel (SAF) has received a $75 million equity investment commitment.
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Global law firm Vinson & Elkins has added a number of lawyers with energy expertise to its partnership and promoted others to counsel, effective January 1, 2024.
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Michigan Governor Gretchen Whitmer has signed the state’s MI Healthy Climate Plan into law following its passage in early November by the House legislature.
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Electrical connector manufacturer Stäubli Electrician Connectors has signed an agreement with SSA Terminals to provide electric vehicle (EV) charging stations for its 33 terminal tractors at the Port of Long Beach, California.
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Former DLA Piper US head of energy and natural resources Vanessa Richelle Wilson has joined international law firm Akin’s Washington, DC. office as a partner in the projects and energy transition team.
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Linklaters has hired Michael Rodgers – formerly of White & Case – as partner in its energy & infrastructure and tax practices in Washington, DC.
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Private investment energy firm X Machina Capital (XMC) will merge its portfolio company Gradient Geothermal with Denver, Colorado-based geothermal company Transitional Energy.
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Power Sustainable has committed C$200 million to reach a final close on the second vintage of its energy infrastructure strategy at C$800 million.
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Boston-based Álvaro Ortega has joined innovative floating offshore wind (FLOW) company Gazelle Wind Power as chief financial officer.
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Paul Daily, president and chief executive of Southwest Gas subsidiary Centuri Group, will step down from his position when the utility business appoints a successor.
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Excelsior Energy Capital has closed a $1.3 billion financing deal for its 682MW Faraday Solar project in Utah, which has a long-term power contract with technology giant Meta through utility PacifiCorp.
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Renewable power developer Apex Clean Energy has commenced sale of four solar projects to commercial solar owner and operator Summit Ridge Energy.
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Renewables company Brightcore Energy and clean power business Altus Power have joined forces to develop a 16,000-panel solar project spanning 19 properties.
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Utility-scale solar and storage developer Primergy has closed a $300 million debt financing and tax equity deal for its 100MW Prairie Mist Solar Project in Arkansas.
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German-based energy giant RWE will continue its €55 billion ($60.2 billion) Growing Green initiative – investing in renewable energy, batteries, flexible generation and hydrogen – with an estimated €20 billion ($21.9 billion) to be allocated to future US investments by 2030.
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The Canada Infrastructure Bank (CIB) has launched the Indigenous Equity Initiative (IEI) to support First Nation, Metis and Inuit communities in purchasing equity stakes in CIB-backed infrastructure projects.
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Texas lawmakers via a two-thirds margin voted in a controversial constitutional amendment that authorizes a $10 billion Texas Energy Fund aimed at providing low-interest loans to build gas-fired power plants, develop microgrids and modernize portions of the state’s electric grid.
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Energy provider Genie Energy’s fund manager subsidiary Sunlight Energy Investments has purchased a 12-project solar portfolio from small solar developer local to the Midwest.
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Law firm Greenberg Traurig has added to its energy & natural resources practice in the US with the hire of a tax partner.
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Ameresco is to build a 50MW/200MWh battery energy storage system (BESS) for CAISO utility Silicon Valley Power (SVP) in Santa Clara, California.
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Microgrid and microturbine manufacturer Capstone Green Energy Corporation hires Emer Higgins as its vice president of operations.
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Renewable developer Longroad Energy has secured $600 million in debt financing for its wind, solar, and battery portfolio across the US.
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Offshore wind developer Attentive Energy is preparing two investments to help grow the industry's supply chain and support ocean-based technology startups in New Jersey.
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The New York Independent System Operator (NYISO) has halted the May 2025 retirement of four peaker plants to keep New York City’s grid reliable.
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GE Vernova’s power conversion business and Next Hydrogen Solutions have signed a memorandum of understanding for green hydrogen production.
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GTI International subsidiary Projeo Corporation has been awarded $38 million from the US Department of Energy (DOE) for its Phoenix Project.
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Power distribution business FirstEnergy has appointed two new senior executives as part of the company’s initiative to expand its presence as an electric utility.
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The Bureau of Ocean Energy Management (BOEM) has approved the 816GW Empire Wind 1 offshore wind project, owned by Equinor and BP. Empire Wind marks the sixth offshore wind project approved by the Biden-Harris administration in its goal to reach 30GW of offshore generation by 2030.
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KKR-backed investment firm BlackGold Capital Management has closed a deal for US-based energy infrastructure lender Northbase Finance.
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Sumitomo Corporation of Americas (SCOA) has signed a Memorandum of Understanding (MoU) with international trade and development company Invest Alberta to support its energy infrastructure projects in Alberta, Canada.
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Summit Ridge Energy has inked a $275 million financing from MUFG to expand its operations and project pipeline of community solar in Virginia and Illinois. The deal upsizes the existing $100 million partnership between Summit and MUFG.
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Swift Current Energy has secured a 20-year power contract with NYSERDA for its 402MW Mineral Basin Solar project, the largest onshore energy project to be selected by NYSERDA's competitive solicitation.
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Capital Power has acquired two contracted combined-cycle US gas generation facilities from Beal Financial Corporation subsidiary CSG Investments.
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Rabobank has expanded its banking team and made analyst hires dedicated to energy transition in the US.
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Copenhagen Infrastructure Partners (CIP) has launched a platform for the development and realization of renewable projects in Canada, Horizon New Energy, as part of the firm's expansion into the Canadian market.
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US-based power plant owner and operator IHI Power Services Corporation (IPSC) has taken on Glenn McCombs as the company’s chief development officer, effective immediately.
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Spanish developer Grenergy is planning to invest €2.6 billion ($2.8 billion) until 2026 into renewables, particularly storage, across Latin America, the US and Europe.
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Eversource and Ørsted's jointly owned Revolution Wind, a 704MW offshore wind project located off Rhode Island, has received final Bureau of Ocean Management (BOEM) approval for its construction and operations plan.
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International construction, mining and industrial heavy equipment manufacturer Komatsu has agreed to acquire US-based lithium-ion battery developer American Battery Solutions (ABS).
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Independent power producer NRG’s president and chief executive officer Mauricio Gutierrez has departed the company and resigned from its board, leaving Lawrence Coben in the role for the interim.
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Clenera Holdings subsidiary Country Acres Clean Power has signed a power purchase agreement (PPA) with the Sacramento Municipal Utility District (SMUD) for its 392MW / 688MWh solar-plus-storage project in Placer County, California.
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Canada-based green hydrogen developer EverWind Fuels has secured a C$125 million (USD $ 91.2 million) debt facility from Export Development Canada (EDC) to put toward its Tupper Point, Nova Scotia-based green hydrogen and ammonia project.
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Among the many hurdles the offshore wind sector is facing, the lack of guidelines for tax credits guidelines remains one of the most convoluted.
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International professional services firm Alvarez & Marsal has taken on former Chevron executive Jay Johnson as senior advisor to its energy practice.
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GE Vernova and Michigan-based energy storage company Our Next Energy (ONE) have signed an agreement to collaborate on US-based solar and storage projects.
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New York will release requests for proposals (RFPs) for offshore wind and onshore renewable energy projects on November 30, 2023.
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Leeward Renewable Energy (LRE) has closed on $580 million of tax equity commitments and debt facilities for its White Wing Ranch Solar and GSG Wind projects located in Yuma County, Arizona, and LaSalle County, Illinois, respectively.
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LS Power is set to invest up to $400 million into green hydrogen projects developed by Monarch Energy.
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Clean power producer, developer, and energy storage company, FirstLight, has promoted current COO, Justin Trudell, to chief executive, effective December 1, 2023.
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Electric vehicle (EV) services provider Revolv has closed a $25 million project financing with a Greenbacker Capital Management affiliate fund, the first non-recourse project financing in the EV sector. The facility will aid Revolv's deployment of EVs and charging stations to its customers across the US.
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National Grid Renewables has agreed to two power purchase agreements (PPAs) for its Blevins Solar Project, a 270MW development located in Falls County, Texas.
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Gridmatic has reached the second closing of its first energy storage fund, increasing committed capital to a total of $50 million.
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The Department of Energy (DOE) has ringfenced $3.5 billion from the Bipartisan Infrastructure Law to boost domestic production of advanced batteries and battery materials.
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Community solar and battery project developer PureSky Energy has closed a 3-year $150 million revolving credit facility with Nomura to fund its interconnection projects and grow its acquisition pipeline.
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Canada-based Enbridge has entered a joint definitive agreement to construct and operate the Fox Squirrel solar project with EDF Renewables.
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Minnesota Power, a utility division of Allete, has issued a Request for Proposals (RFP) for up to 300MW of solar energy to come online by 2027.
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A section of Pattern Energy’s $10 billion Arizona-based SunZia Transmission project has been temporarily suspended by federal land managers following a request from the Tohono O’odham Nation.
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Canadian independent power producer Innergex Renewable Energy has closed a $185 million financing deal for three unlevered hydro assets in Quebec and British Columbia, totaling 107MW.
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The Department of Energy (DOE) has provided $444 million to fund 16 carbon storage and management projects across the US.
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Oceanic Wind Energy has renegotiated its agreements with green power developer Northland Power, taking back its 400MW Hecate Strait offshore wind project in British Columbia.
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Ørsted's chief financial officer and chief operating officer have left after the company announced $5 billion in impairments, canceling its 2.3GW Ocean Wind 1 and 2 offshore wind farms off New Jersey, and pulling out of a consortium due to bid on offshore wind projects in Norway.
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Two infrastructure-focused private equity professionals have established a clean energy investment firm – Acadia Infrastructure Capital.
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DSD Renewables has received a $250 million strategic investment from Cox Enterprises.
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Verdani Partners, a commercial real estate management services company, has teamed up on energy procurement with the auction-based energy seller Transparent Energy.
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Siemens Gamesa Renewable Energy has pulled out of its $200 million Portsmouth, Virginia, offshore wind blade manufacturing facility, citing turbulence in the industry.
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French energy company TotalEnergies is to buy three gas-fired power plants in Texas from TexGen for $635 million.
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Renewables developer Madison Energy Infrastructure (MEI) has closed a $450 million debt financing from a club of seven banks to develop and deployment of its commercial and industrial (C&I) projects.
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Altus Power, an independent developer, owner, and operator of commercial-scale solar facilities, has closed on a $200 million facility from private equity giant Blackstone.
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Volvo Group has won the winning auction bid to acquire the Proterra Powered business and assets of recently bankrupt electric vehicle (EV) battery developer Proterra.
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Suncor is offering C$1.468 billion ($1.5 billion) in unsecured senior notes to fund its acquisition of TotalEnergies Canada.
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The Utah Associated Municipal Power Systems (UAMPS) and NuScale Power Corporations (NuScale) have terminated their Carbon Free Power Project (CFPP) located at the Idaho National Laboratory.
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FirstEnergy is planning a 5-year, $935 million transmission infrastructure upgrade in New Jersey.
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Chesapeake Utilities is looking to raise $330 million through a common stock offering to help fund its Florida City Gas acquisition, expected to close in the fourth quarter of 2023.
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Quantum Capital Group, the energy-focused private equity firm, has hired David Altshuler partner and co-head of client solutions.
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Cubico Sustainable Investments has appointed Andrew Coffield as head of legal, US.
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EverGen Infrastructure has signed a 10-year offtake contract with Irving Oil for the supply of renewable natural gas (RNG).
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UK power generation business Drax has partnered with fintech platform Patch to grow the private investment market in carbon dioxide removals (CDRs).
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Kenneth Ditzel has joined global consulting firm Berkeley Research Group’s (BRG) energy & climate team as a managing partner.
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HSBC has named Paul Snow as head of renewables in the Americas in the real assets finance team, promoting him from a director role.
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Renewables developer Arevon has closed a $529 million financing package, including a tax credit transfer agreement, for its Vikings solar-plus-storage project in California.
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Finance advisory and investment banking firm Marathon Capital has launched an equity research group with Alex Kania as its lead analyst and Chandni Chellappa as the team’s vice president.
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NextEra Energy Partners is selling its Texas natural gas pipeline, STX Midstream, to Kinder Morgan for $1.8 billion.
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Jean Francois Roberge has joined Abu Dhabi fund Mubadala as head of partnerships for the Infrastructure Americas division.
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Eversource Energy is looking to sell its 50% stake in its offshore wind joint venture with Danish energy giant Ørsted, which includes three projects totaling 1.7GW.
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Uranium mining company Cameco Corporation and Brookfield Renewable Energy have closed on the joint acquisition of nuclear services business Westinghouse Electric Company on November 8, 2023.
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Renewables developer and asset owner Madison Energy Infrastructure (MEI) is set to acquire Pro-Tech Energy Solutions.
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Mercedes-Benz HPC has closed a partnership with shopping and entertainment real estate company Simon to build a network of EV charging hubs across Simon-owned properties in the US and Canada.
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Global financing group Macquarie has hired a former CohnReznick director as the senior vice president in the Infrastructure Advisory, Americas practice.
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Durham, North Carolina-based Strata Clean Energy has closed a $300 million revolving loan and letter of credit facility to develop its 17GW pipeline of solar and storage projects.
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Nuclear power plant operator Constellation has completed the $1.75 billion acquisition of its 44% ownership stake in NRG Energy’s South Texas Project Electric Generating Station (STP).
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The seas have been rough for the offshore wind sector, and projects are repeatedly being hit by rising interest rates, supply chain disruptions, local unrest, and political opposition. Financing issues and heavy losses in the past quarter have unraveled the traditional project process. The key economic burden on these projects is, by far, the power purchase agreement (PPA) gap.
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International law practice Milbank has selected Jenna McGrath as a partner for the firm’s Project, Energy and Infrastructure Finance Group in the Washington, D.C. office.
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International energy company Uniper has partnered with First Ammonia on a green ammonia project sited in Port of Victoria, Texas.
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Ontario, Canada’s government has established Ontario Infrastructure Bank (OIB) to expand infrastructure investments in the province with a proposed $3 billion in public funding at launch.
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Renewable energy infrastructure company Talus Renewables has raised $22 million in its Series A financing for production of its green ammonia technology.
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Altius Renewable Royalties Corporation (ARR)'s co-owned subsidiary, Great Bay Renewables, has secured a $274 million senior credit financing. ARR owns Great Bay with funds managed by affiliates of Apollo Global Management.
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D.E. Shaw Renewable Investments (DESRI) has begun operations on its 100MW solar energy farm in Imperial County, California.
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Canadian power company TransAlta will acquire Heartland Generation and Alberta Power (collectively, Heartland) from an affiliate of Heartland’s parent company, Energy Capital Partners.
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TotalEnergies has brought its 380MW/225MWh Myrtle Solar and battery storage systems project online outside of Houston, Texas. Myrtle Solar is the French company's largest-to-date utility-scale solar-plus-storage project in the US.
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Energy giant BP has declared impairments of $540 million related to its New York offshore wind projects, Empire Wind 1 and 2 and Beacon Wind. BP owns the projects off the New York and Massachusetts coasts in a 50:50 joint venture with Equinor.
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Italy-based energy and telecom cable systems company Prysmian Group has signed a €900 million ($951 million) agreement with Clean Path New York for submarine and land power cable systems.
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The Bureau of Ocean Energy Management (BOEM) has finalized four Wind Energy Areas (WEAs) with the potential to supply 3GW of energy for another Gulf of Mexico lease sale.
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Longroad has financially closed and commenced construction on Sun Streams 4, the company’s third project in the Arizona-based Sun Streams complex.
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Despite earlier announcements of large impairments and project cancellations for offshore wind, joint-venture partners Ørsted and Eversource have taken the final investment decision (FID) in their 704MW Revolution Wind, commencing the construction of the utility-scale offshore wind farm.
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The world's largest offshore wind developer, Ørsted, has stopped development of its 2.3GW Ocean Wind 1 and 2 offshore wind farms off New Jersey after announcing impairments of over $5.5 billion.
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ExxonMobil has closed on its acquisition of Denbury, a carbon capture and sequestration (CCS) developer also specializing in oil recovery, as of November 2, 2023.
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Point-of-sale finance company Sunlight Financial Holdings has been acquired by a consortium of solar investors, including but not limited to a Greenbacker Capital Management affiliate, Sunstone Credit, IGS Ventures, and its secured lender, Cross River Bank.
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US maritime and logistics company Crowley has hired a former GE Offshore Wind executive as vice president of business development for its Wind Services group.
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The Bureau of Ocean Energy Management (BOEM) has approved Dominion Energy's 2.6GW Coastal Virginia Offshore Wind (CVOW) project, the largest offshore wind project in the US. Construction will begin in Spring 2024 and is expected to take around 3 years, bringing CVOW online in late 2026.
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X-Energy Reactor Company (X-energy) has reached the joint decision with publicly-traded special purpose acquisition company Ares Acquisition Corporation (Ares) to drop their previously announced acquisition, effective October 31, 2023.
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Canadian Solar is building a 5 GW solar PV cell production facility sited at Jeffersonville, Indiana’s River Ridge Commerce Center.
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Blackstone portfolio company Aypa Power has finalized a $350 million financing facility and $200 million tax equity financing for its Borden and Cald Projects, a 150MW/300MWh battery energy storage facility (BESS) in Texas and a 100Mw/400MWh BESS in California, respectively.
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Fortune 500 power firm Entergy is to sell its gas distribution business to private infrastructure equity management company Bernhard Capital Partners.
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MISO has selected an Ameren subsidiary to lead the development of a $84 million transmission project during the board's second bidding process for Tranche 1 of its Long-Range Transmission Planning (LRTP).
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Distributed generation platform Aspen Power has completed construction on 14 solar projects acquired from Georgia’s Inman Solar.
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Canadian Solar’s battery storage unit, e-Storage has been awarded a supply and integration (S&I) contract for 1GWhdc of energy storage solutions with Arizona-based companies DEPCOM Power and Tuscon Electric Power (TEP).
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Competitive Power Ventures (CPV) has brought online its 1.25GW natural gas fired Three Rivers Energy Center in Grundy, Illinois.
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Hull Street Energy will acquire 48MW California natural gas-fired plant EF Oxnard from an affiliate of Atlantic Power & Utilities.
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Texas-based utility CenterPoint Energy has appointed Jason Wells to chief executive and board member.
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After New York state rejected a request from offshore wind developers to raise prices, Norwegian energy giant Equinor has recorded a $300 million impairment on its US offshore wind projects.
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The New Mexico Public Regulation Commission (PRC) has approved Xcel's early closure of its 1.067GW coal-fired Tolk Generating Station in 2028.
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Enfinity Global, a renewable energy company, is selling a 40% equity interest minority stake in a 400MW portfolio to Japanese utility Kyushu Electric Power Co.
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Renewables company Ormat will purchase a 150MW portfolio from Enel Green Power North America, a subsidiary of Enel, for $271 million.
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John Cockerill Hydrogen, an electrolyzer manufacturer, has purchased a manufacturing space in Texas to create an electrolyzer gigafactory.
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Battery storage system manufacturer CMBlu Energy has secured $106.7 million in financing from STRABAG, the Austrian construction and infrastructure technology group.
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Duke Energy has closed the sale of its unregulated utility-scale commercial renewables business to energy giant Brookfield Renewable, rebranding the sold company as Deriva Energy.
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Renewables company and Iberdrola Group member Avangrid and green energy investment firm Copenhagen Infrastructure Partners (CIP) have closed a $1.2bn first-of-its-kind tax equity package for their jointly owned Vineyard Wind 1 offshore wind project.
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Technology provider Vontier Corporation's subsidiary, ANGI Energy Systems, to build a full hydrogen refueling station at the Santa Clarita Transit in California. The station will fuel over two million vehicles per year.
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Sid Perkins, founder of ION Energy, and Ike Perkins, former Mercuria Energy portfolio manager, have jointly launched their traditional, renewable, and transitional energy market commodity brokerage, Snapper Creek Energy.
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New York Governor Kathy Hochul has revealed a new renewable investment plan for the state, announcing conditional offtake agreements to three offshore wind projects and 22 onshore projects.
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Goldman Sachs Asset Management has secured $4 billion after final close of its West Street Infrastructure Partners IV fund and related vehicles.
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Utility-scale solar and storage developer Palladium Energy has closed on a $10 million corporate equity investment from energy transition and decarbonization private investment firm Ultra Capital.
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Sumitomo Corporation of the Americas (SCOA) and its parent company Sumitomo Corporation have entered an agreement with private developer Reconciliation Energy Transition Inc (RETI), giving Sumitomo the exclusive right to acquire significant equity interest in the East Calgary Carbon Transportation & Sequestration Project (CTS Hub).
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The energy finance group at First Citizens Bank has closed a $60 million financing for Gore Street Energy Storage Fund, a UK-based fund investing in utility and scaled projects, a 200MW/400MWh battery storage project in Imperial County, California. The project, Big Rock, is Gore Energy's first development in California.
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DE Shaw Renewable Investments (DESRI) has begun construction on its 200MW/400MWh San Juan 1 solar and storage project in New Mexico.
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Nonprofit consumer advocacy organization Public Citizen has called on the Federal Trade Commission (FTC) to investigate whether Blackstone Infrastructure Partner’s (Blackstone) recently approved acquisition of a 19.9% equity stake in Northern Indiana Public Service Company (NIPSCO) vehicle, NIPSCO Holdings II, is legally sound.
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Rise Light & Power and Corio have purchased stakes in TotalEnergies's 3GW Attentive Energy offshore wind farm, paying a total of $420 million.
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Green hydrogen development took a giant stride towards bankability as the Department of Energy selected 7 green hydrogen hub winners across 16 states, handing out $7 billion from the Bipartisan Infrastructure Law.
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PCC Hydrogen (PCCH2), a negative carbon intensity hydrogen producer, has entered a memorandum of understanding (MOU) with construction materials solutions provider Summit Materials and its subsidiary Continental Cement Company.
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The joint venture between renewable natural gas producer OPAL Fuels and South Jersey Industries (SJI), an infrastructure holding company, has begun constructing its Atlantic RNG facility on the Egg Harbor Township, New Jersey, landfill.
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New York Governor Kathy Hochul has vetoed an Equinor and BP-endorsed bill to build underground transmission lines from its offshore wind projects into the city of Long Beach. Hochul's rejection of the Planned Offshore Wind Transmission Act strikes another blow to the industry a week after the state government shot down a financial relief bill for offshore wind developers.
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Chevron has agreed to acquire all outstanding shares of global independent energy company Hess in an all-stock deal valued at $53 billion or $171 per share based on Chevron’s closing price on October 20 2023.
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Vineyard Wind, owned by Avangrid and CIP, has installed the first turbine of its Vineyard 1 project, a landmark milestone for the 800MW project, which will be the first utility-scale offshore wind farm in the US. Once complete, Vineyard Wind will power nearly half a million Massachusetts homes.
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Ameresco has begun commercial operations of its renewable natural gas (RNG) facility at the Benson Valley Landfill in Kentucky, which is owned by waste disposal company Republic Services. The plant will produce 2,000scfm of raw landfill gas per year, reducing over 27,000 tons of carbon dioxide emissions annually.
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Milestone Environmental Services (MES) subsidiary Milestone Carbon has entered into an agreement with Texas Pacific Land Corporation to lease over 22,000 acres of land and pore space intended for permanent geologic sequestration of CO2 in the Permian Basin.
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Spearmint Energy has reached financial close on a $92 million tax equity investment for its 150MW battery energy storage system (BESS), Revolution, from climate-focused investment firm Greenprint Capital Management.
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The Department of Energy (DOE) has awarded $3.46 billion for 38 grid-reliability projects, which will modernize and stabilize the grid, especially from extreme weather events.
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DHL Express and sustainable aviation fuel (SAF) provider World Energy have inked a 7-year agreement that will see the international shipping and fulfillment company purchasing up to 668 million liters of commercialized SAF, a product of CO2 made from used cooking oil and agricultural waste products.
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Private investment giant Ardian has opened an office in Montréal, its first in Canada and third in North America.
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DIF Capital Partners has appointed Lorraine Becker as the company’s new head of ESG.
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Concentric Energy Advisors, a management consulting and financial advisory firm for the North American energy and water industries, is making changes to its c-suite.
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Invenergy's $7 billion transmission project, the Grain Belt Express, has received approval from the Missouri Public Service Commission (MPSC), the last step in securing state approval for project enhancements.
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Opdenergy has secured $252 million in financing for two under-construction solar projects, totaling 260MW, in West Virginia and Louisianna.
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Commercial energy developer Green Lantern Solar has hired a director of real estate and director of development as it grows its team.
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Energy transition private equity firm Hull Street Energy has made a strategic investment in distributed generation solar development company Greenskies Clean Focus.
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Integrated energy and fertilizer company Proman has inked an agreement with Mitsubishi to build a low-carbon ammonia facility in Lake Charles, Louisiana. If completed, the plant would create 1.2 million tons of ammonia annually.
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Plus Power has completed a $1.8 billion financing for its standalone battery storage pipeline to help stabilize the grid alongside new wind and solar projects. Using data-driven metrics, the BESS developer is investing the funds into five battery projects near metropolitan areas in the Southwest.
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FirstEnergy issued a request for proposal (RFP) to purchase Ohio-compliant renewable energy credits (RECs).
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New York State Public Service Commission (PSC) has unanimously rejected a request from a group of offshore wind developers to provide financial relief for four projects on the New York coast and 86 onshore projects. The relief would have come from increasing prices for customers, totaling $12 billion.
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Renewable natural gas producer OPAL Fuels has appointed Scott Contino as interim chief financial officer after Ann Anthony resigned from the role.
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The Missouri Public Service Commission (MPSC) has issued an order to spur the development of virtual power plants (VPP) in the state.
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Clifford Chance has hired corporate M&A partner Cephas Sekhar and counsel Kyle Kreshover to its recently opened Houston office.
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The New York Power Authority (NYPA) has created a senior leadership role to develop, own, and operate renewable energy-generating projects in the state.
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Rhode Island Energy has issued a request for proposal (RFP) for an additional 1.2GW of offshore wind power.
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Urban battery storage developer NineDot Energy has inked an energy credit subscription agreement with coffee giant Starbucks.
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The Department of Energy has selected seven green hydrogen hub winners across 16 states, handing out $7 billion dollars in funds from the Bipartisan Infrastructure Law. Together, the hubs aim to produce over 3 million metric tons of clean hydrogen annually and generate over $40 billion in private investment in hydrogen.
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California Governor Gavin Newsom has approved AB1172 on fusion energy policy as one of the 900 bills that came across his desk this week, all of which require signature or veto by Saturday.
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Investment firm Northleaf Capital Partners has acquired a controlling stake in EVPassport, an electric vehicle (EV) charging platform.
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Origis Energy has started construction on the first of three projects in Mississippi with a total capacity of 550MW plus 150MW of battery storage.
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Skyline Renewables has hired Todd Wynn as chief executive, replacing interim CEO Tim Menzie.
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Battery storage developer Spearmint Energy has hired Yelena Kuznetsova as the director of sustainability and ESG.
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Perch Energy, a community solar technology platform, has closed a $30 million investment from Nuveen in a series B round.
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Braya Renewable Fuels has named former Delek executive, Todd O'Malley, as chief executive.
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Bluestar Energy Capital, the renewable energy investment platform founded last year (2022) by the former CEO of Ørsted Onshore, has hired Neil O’Donovan as president and COO.
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Evergrow has completed the funding of a clean energy tax credit transfer on its platform as new players emerge in the tax equity space.
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Greenbacker Capital Management has hired Rahul Bhalodia as the managing director of the Greenbacker development opportunity (GDEV) strategy. Bhalodia will lead origination, execution, investment management, and capital raising for his group.
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Californian energy producer, Aera Energy, is preparing first large-scale carbon capture and storage project (CCS) – CarbonFrontier.
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Energy provider Southern Company has partnered with aluminum business Novelis to decarbonize its operations – including the construction of two onsite 80MW solar farms.
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PJM Solar developer Geenex Solar has appointed Emily Williams as chief executive, succeeding Georg Veit, who will become the company's chairman.
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Leeward Renewable Energy (LRE) has begun the construction of two projects, GSG Wind and White Wing Ranch Solar, as well as reaching commercial operations for Big Plain Solar.
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National Renewable Solutions (NRS) has hired Bill Whitlock to take over as chief executive as Patrick Pelstring begins retirement.
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TerraWatt Infrastructure, an EV charging station developer, has purchased two heavy-duty EV charging sites across inland Southern California, an area known as the Inland Empire.
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Battery energy storage systems (BESS) M&A activity in the US continues to steadily increase as nationwide transmission upgrades and interconnectivity queues grow – with deals for the relatively new technology now in the billions of dollars.
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North Carolina, the Commonwealth of Virginia, Maryland and Delaware have started a workforce to further offshore wind development.
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Independent power producer Silicon Ranch and its partners – a community-focused renewable energy company and Sulphur Springs Valley Electric Cooperative (SSVEC) – have brought online the McNeal solar-plus-storage project.
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El Paso Electric Company (EPE) has issued a request for proposals (RFP) to obtain 150GWh worth of renewable energy resources for New Mexico customers by 2027.
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California Governor Gavin Newsom has signed into law SB605, a unanimously passed bill that allows the California Energy Commission to study the potential for wave and tidal energy development, including overseeing several pilot projects.
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LG Energy Solution, an EV battery manufacturer, and Toyota North America have signed a long-term battery supply agreement. LG Energy will supply Toyota with 20GWh of NCMA batteries per year for Toyota to power its battery electric vehicles (BEVs).
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Private equity firm Grey Rock Investment Partners has made a controlling investment in carbon capture and sequestration company CarbonCycle.
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Electric Hydrogen (EH2) has completed a $380 million series C financing to accelerate the company's manufacturing and deployment of its green hydrogen system.
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Global infrastructure investment manager Wren House has appointed Anne McEntee as managing director in its New York asset management team.
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Industrials company Lafarge Canada and ATCO's subsidiary Canada Utilities have signed a 12.5-year solar virtual power purchase agreement (VPPA) to supply Lafarge's Exshaw cement plant with 79.9GWh — 34% of the plant's power — of renewable energy.
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Duke Energy has closed on the sale of its entire distributed generation (DG) portfolio, including the operating assets, development pipeline and O&M portfolio of REC Solar, to Arclight.
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Dominion Energy is set to add 772MW of solar generation in Virginia through six Dominion-owned or acquired solar farms and 13 power purchase agreements (PPAs) with independently owned projects.
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Renewables developer Advanced Power has sold its Oriana Solar project to Sabanci Renewables, a subsidiary of Sabanci Holdings.
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BP-owned Archaea Energy has launched a renewable natural gas (RNG) plant in Medora, Indiana, located next to a Rumpke Waste and Recycling landfill. The Medora plant is the first to come online since BP purchased Archaea in 2022.
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SolaREIT, a battery storage and solar real estate investment fund, has hired Nicole Wolf as senior vice president of business development. The hire supports the company's expansion of its battery storage real estate financing projects.
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Google is standardizing the power purchase agreement (PPA) contracts it uses for renewables projects following a year-long trial with technology firm LevelTen.
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Xcel Energy has continued to make changes at the top, naming a new group president of utilities and chief customer officer.
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National Grid Renewables has started operations of Amazon Solar Farm Ohio - Yellowbud, a 274MW solar project located in Ross and Pickaway Counties, Ohio.
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Massachusetts, Connecticut, and Rhode Island have entered into an offshore wind partnership to solicit larger wind farms with the goal of curbing prices. The states had previously scheduled individual solicitations for January 2024 but will now run a 6GW offshore wind energy tender together.
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Renewable energy provider Cordia has acquired three Pittsburgh, Pennsylvania-sited energy systems from Essential Utilities for $165 million.
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World Energy, a sustainable aviation fuel provider, has announced a long-term agreement with Microsoft that will see the tech megabrand purchasing SAF certificates for its corporate flights.
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Despite current difficulties in the offshore wind market, TotalEnergies, a French wind energy developer, and Corio Generation, owned by Macquarie, have proposed a 1.34GW project off the coast of New Jersey. The wind developers' joint venture (JV) Attentive Energy also owns the 1.4GW Attentive Energy One project, located off the New York coast.
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Iberdrola-subsidiary Avangrid has terminated its 20-year power purchase agreements (PPA) with Connecticut utilities, Eversource Energy, and United Illuminating, for its proposed 804MW Park City Wind offshore generation project.
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Natural gas and wastewater company Essential Utilities has closed on the sale of its entire West Virginia natural gas utility portfolio to Hope Gas.
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Greenprint Capital Management and AB CarVal have finalized their joint venture (JV) to grow Greenprint's tax equity pipeline and renewable energy tax credit warehouse using funds managed by AB CarVal.
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Calibrant Energy, a joint venture established in 2020 between Siemens and Macquarie, has hired Matt Walz as its first chief executive.
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New Fortress Energy (NFE) has placed a 200MW+ power plant into service in San Juan, Puerto Rico, following the 150MW facility that became operational in June (2023).
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Distributed solar and storage developer Cultivate Power has secured a $10 million corporate equity investment from Generate Capital.
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New York natural gas supplier EnergyMark has agreed to acquire the assets of its neighbor and competitor Crown Energy Services.
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Maritime Electric Company, a Prince Edward Island (PEI), Canada-based utility, has received $19 million from the Canadian government for its sustainable electrification initiative aimed at updating the local grid and critical connection areas.
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Global independent power producer (IPP) Ashtrom Renewable Energy has received $270 million in financing from five banks for its 400MW Tierra Bonita Solar Project in Pecos County, Texas.
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Energy giant American Electric Power has appointed Charles Zebula as its executive vice president and chief financial officer, effective immediately.
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Texas-based Vistra Corp is issuing both secured and unsecured senior notes to fund part of the $3 billion cash component of the company’s pending Energy Harbor acquisition.
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The Department of Energy (DOE) has provided $38 million in funding for 13 green energy technology projects in American Indian and Alaska Native communities. The DOE funds will help increase energy security, reduce energy costs, and provide electric power investments for Native communities across the US.
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Nuclear power provider Xcel Energy has named Chris Church as its new chief nuclear officer.
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Peninsula Clean Energy has signed a 15-year agreement with the SunZia Wind farm, Pattern Energy’s largest renewable energy procurement project contract to date.
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EDPR North America Distributed Generation (EDPR NA DG) has closed the latest of its series of sale-leaseback transactions with Flagstar Financial & Leasing.
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International law firm Willkie Farr & Gallagher has hired 3 green energy lawyers to join its Los Angeles and New York offices as partners. The three attorneys, Eric Pogue, Samantha Leavitt, and Amanda Rosenberg, previously served as partners at Mayer Brown.
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Sunnova Energy International, a low-cost solar and energy provider, has entered into a $3.0 billion partial loan guarantee agreement with the U.S. Department of Energy's (DOE) Loan Programs Office (LPO).
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Iberdrola-owned Avangrid has reached a transfer tax credit agreement for over $100 million of 2023 production tax credits (PTCs) with oil and power multinational Vitol, one of the first transferable credit agreements created by the Inflation Reduction Act.
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Infra-tech firm ABB has signed into a three-year partnership with Canada’s export credit agency Export Development Canada (EDC).
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Ørsted has begun operations on its 13th US wind farm, Sunflower Wind, which is a 200MW wind project located in Marion County, Kansas. The Danish energy giant now operates 832MW of wind energy in the Southwest Power Pool.
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Energy and infrastructure investment giant NextEra has agreed to sell Florida City Gas (FCG) to oil and gas company Chesapeake Utilities.
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Canadian-based CO2 investment firm Carbon Streaming has entered a streaming agreement with carbon-credit funded restoration company Mast Reforestation.
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BP has begun construction on its 187MW Peacock Solar project near Corpus Christi, Texas, which is expected to begin operations by the fall of 2024.
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CleanCapital has completed its 8.5MW solar project in Houston, Alaska, which is the largest solar project to become operational in the state. The project was developed and constructed by Renewable IPP (RIPP), while CleanCapital funded and now owns the site.
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EDF Renewables North America (EDF) has executed a 20-year power purchase agreement with Texas-based public utility El Paso Electric.
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Atlanta-based Southern Power, an energy subsidiary of Southern Company, has absorbed the 150MW South Cheyenne Solar Facility from South Korean-owned energy company Qcells USA.
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Fervo Energy, a geothermal technology company, has begun construction on its Utah-based Cape Station exploration project. The geothermal energy project is set to deliver 400MW of green electricity beginning in 2026 and reaching full scale in 2028.
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Renewable natural gas producer OPAL Fuels and South Jersey Industries (SJI), an infrastructure holding company, have entered a 50/50 joint venture (JV) to develop, own, construct, and operate RNG facilities.
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Wholesale energy provider and Southern Company subsidiary Southern Power has acquired the Millers Branch Solar Facility.
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Miami-based renewables firm Enfinity Global has added 546MW of solar under development to its US portfolio through the acquisition of three solar assets from CS energy.
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The M&A market for renewables remains muted with speakers at REFF Wall Street 2023 outlining current market dynamics as: owners happy to own, buyers looking for less risk.
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ArcLight Capital Partners has appointed Curt Morgan to a senior adviser role. Morgan will work to find new investment opportunities for ArcLight and oversee the firm's portfolio companies.
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Sustainable aviation fuel (SAF) is still years away from bankability, according to speakers at REFF Wall Street 2023.
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Solar module manufacturer First Solar has begun construction on its multi-gigawatt solar panel manufacturing facility in Louisiana.
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Supply chain disruptions continue to impact projects across the spectrum of renewable technologies in the US and a domestic solution is not readily available despite efforts put in place like the Inflation Reduction Act (IRA).
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The circa $20 billion annual tax equity stranglehold a small number of banks had on the market is over now that the Inflation Reduction Act (IRA) has introduced transferability, according to one financial advisor at REFF Wall Street 2023.
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While the Inflation Reduction Act (IRA) has spurred the green energy industry since its inception in August 2022, the legislation has not come without its own difficulties and may even be causing some developers to hit pause, according to speakers at REFF Wall Street 2023.
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Renewable energy developers shined a light on the untapped potential of the Western Electricity Coordinating Council (WECC) market during REFF Wall Street 2023, with one speaker calling it a “forgotten market”.
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Nautilus Solar Energy has completed its issuance of $202 million senior secured notes to institutional investors in a private placement transaction.
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Sunnova Energy Corporation intends to offer a $400 million green bond to finance or refinance existing and new projects.
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Distributed energy company Scale Microgrids has hired Neil Maguire as its chief technology officer.
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Carbonvert and Castex Energy subsidiary Castex Energy Solutions have struck an operating agreement with the State of Louisiana to develop a permanent carbon dioxide (CO2) storage facility.
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The California wave and tidal energy development bill is headed to the Governor's desk after the State Senate passed the bill unanimously. The bill will allow the California Energy Commission to work with state agencies to study the potential for wave and tidal energy development along the state's 840-mile coastline.
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Eversource Energy has hired Paul Chodak as executive vice president and chief operating officer, effective November 13, 2023.
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Equinor has hired former operations and maintenance executive at Vestas Wind Systems, Samuel Byrne.
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The SOO Green HVDC Link transmission project, a unique underground transmission line that will follow the route of existing Canadian Pacific railroads, moved a step further towards construction after it was approved by Iowa regulators.
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PowerTap has reached a purchase agreement with Coleman Industrial Gases for a combined CO2/hydrogen product.
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Distributed energy company Correlate Energy has appointed Johan Themaat as the vice president of finance.
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Hawaiian Electric has appointed Paul Ito as interim CFO to replace the retiring Tayne Sekimura as succession planning was upended in the wake of the August 8 deadly wildfires on Maui.
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Texan municipally-owned electric and natural gas utility CPS Energy has launched a request for proposal (RFP) seeking up to 500MW of energy storage systems.
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Recurrent Energy, the solar and storage developer and owner, has closed on a $200 million project financing for the 134MW Liberty Solar project.
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Sunrun, a provider of residential solar, storage and energy services, has priced a $715 million securitization of leases and power purchase agreements, known as Sunrun’s solar-as-a-service offering.
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A bill to streamline the US energy transmission system has been introduced by Californian politicians.
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X-Energy Reactor Company and the US Department of Defense (DoD) have expanded their agreement to develop a nuclear microreactor prototype for use in remote military locations.
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Venture capital and private equity firm Voyager Interests has hired Robert Trainer as a partner. The company focuses on investments in the energy services and equipment (ES&E) sector.
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Gibson Energy has entered a 15-year power purchase agreement with Capstone Infrastructure and Sawridge First Nations to take power from the Buffalo Atlee 2 and 4 wind farms.
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Colorado-based renewables developer Scout Clean Energy has signed a virtual power purchase agreement (VPPA) with Colgate-Palmolive.
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The city of Lancaster, California has partnered with zero-carbon energy supply infrastructure Element Resources on a green hydrogen project.
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FortisBC has begun expanding methane capture infrastructure at the Delta landfill to advance its renewable natural gas offtake agreement with the City of Vancouver. Per the agreement, FortisBC will turn waste from the Delta landfill into RNG and sell it to the city.
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Energy management business Schneider Electric has revealed its 160,000-square-foot electrical manufacturing plant in El Paso, Texas, its largest factory in the US. The plant will produce low- to medium-voltage electrical products used to transfer power from the grid to industrial, commercial, and residential customers.
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South Korean trading company Samsung C&T has signed a deal to sell 15 solar PV and energy storage systems (ESS) to North American developer Sunraycer.
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ComEd has entered an offtake agreement to purchase carbon-free nuclear energy from power producer Constellation.
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Guzman Energy will offtake 100% of the renewable power generated by the 190MW solar and storage development Shallow Basket in an agreement signed with National Renewable Solutions (NRS).
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Waste-to-energy company Anaergia has moved forward with investment bank Piper Sandler & Co to lead the company in its strategic review.
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Moelis & Company has appointed Philip Holder as the new managing director of the investment bank's power and utilities unit.
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BC Utilities Commission, the regulator of British Columbia’s public energy utilities, has named Mark Jaccard as its chair and chief executive.
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Climate-focused investment firm Galvanize Climate Solutions has closed its Innovation + Expansion Fund, its first venture and growth equity fund, at $1 billion. The fund will invest in climate and green energy startups.
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Power management company Eaton has made a $150 million investment in electrical power distribution manufacturing, bolstering its manufacturing presence in North America.
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Battery cell manufacturer KORE Power has inked a multi-year supply agreement with energy storage and power conversion company Nidec North America.
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Enel North America has brought five battery energy storage systems (BESS) totaling 369MW / 555MWh online in Texas. The utility-scale BESS projects have been connected to the ERCOT power grid and will increase stability during the hot summer months.
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United Airlines has signed an offtake agreement to purchase up to 1 billion gallons of sustainable aviation fuel (SAF) from industrial biotech company Cemvita.
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Renewable energy development and financing company Empower Energies has appointed Patrick Corr to the role of chief operating officer (COO).
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Chevron USA has acquired natural gas developer Magnum Development from private equity firm Haddington Ventures.
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Houston, Texas-based Talen Energy Corporation has made steps towards listing its common stock not long after a chapter 11 plan of reorganization and restructuring.
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Foss & Company has launched a standalone battery storage investment division, which highlights the company's increasing focus on battery energy storage systems (BESS) projects.
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Energy-focused investment firm Kimmeridge has invested $15 million in US Light Energy, a community solar project developer. The financing derives from Kimmeridge Carbon Solutions, a fund for carbon-neutral and carbon-reducing investments.
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Matrix Renewables and rPlus Energies have launched construction on the 261MW Pleasant Valley Solar project in Ada County, Idaho. Once completed, the project will be the largest solar facility in Idaho Power's system.
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X-Energy Reactor Company and Ares Management have updated the terms of the nuclear development company’s buyout with the business now valued at $1.05 billion, down from $1.8 billion.
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Vesper Energy, a developer, owner, and operator of utility-scale renewable energy assets has received a commitment from fund manager GCM Grosvenor for up to $100 million.
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Clean power producer, developer, and energy storage company FirstLight Power has finalized its agreement to acquire Hydroméga Services, including ownership interest in five hydropower generating stations in Québec and five in northeastern Ontario.
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Moelis & Company has appointed Jugjeev Duggal as managing director of the firm's newly launched clean technology unit.
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Hull Street Energy affiliate Energy Transition and Environmental Management (ETEM) will shutter and repurpose multiple post-acquisition assets.
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Clean Energy Technologies’ (CETY) affiliate Vermont Renewable Gas (VRG) has signed a 20-year power purchase agreement (PPA) with not-for-profit corporation VEPP in a deal valued at $53 million, per anticipated generator availability.
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Utility scale independent power producer Onward Energy has named Patrick Welch as its chief financial officer.
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Described as “transformative legislation” and a “fantastic opportunity” the Inflation Reduction Act (IRA) has bolstered investment into US renewable energy at breakneck speed. Yet, one year on from its historic enactment many hurdles remain for financing renewables projects in the US. Chiefly, the permitting system.
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Sumitomo Corporation Group and investment firm Advantage Capital have launched a joint venture, Perennial Renewables, a solar generation developer.
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Dimension Renewable Energy has inked $237 million in financing led by Silicon Valley Bank (SVB), a division of First Citizens Bank, to develop its 120MWdc community solar portfolio across five states.
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Natural gas producer BKV has entered into a contract with ENGIE Energy Marketing NA to sell its natural gas, which has been produced with CO2 sequestration, and its associated carbon sequestered credits. For this partnership, BKV will be creating the first purpose-built permanent commercial CO2 disposal and capture in the US.
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Tara Young, former deputy general counsel at Plus Power, has joined Spearmint Energy as its general counsel, effective immediately.
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Trinity Gas Storage has closed $189 million in equity funding from private equity firm Transition Equity Partners and debt financing led by Investec as the joint lead arranger for its natural gas storage facility in Anderson County, Texas. The other investors include Pan Capital Management, Arbdn, SailingStone Capital Partners, and Rice Investment Group.
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Spanish energy giant Repsol is set to acquire US renewable development company ConnectGen for $768 million.
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Ørsted has completed its $625 million all-cash purchase of Eversource Energy's share in 175,000 acres of an offshore lease area that covers three ongoing offshore wind projects, becoming the sole owner of the land.
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The head of project finance at EDPR North America Distributed Generation has left the firm to launch a consulting business. Christopher Rittenhouse has worked in role since 2018 and is now consulting under Gates Rittenhouse LLC.
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Igneo Infrastructure Partners has agreed to take a majority equity interest in renewable power producer Soltage.
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Investment bank Moelis & Company has formed a clean technology group and hired former Citi banker Arash Nazhad as a managing director in Houston to co-lead the new unit.
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Commercial and Industrial (C&I) solar developer Forefront Power Partners has closed a $65 million solar investment tax credit (ITC) financing from NT Solar for its portfolio of 100 solar projects in California.
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Redeux Energy Partners will move forward with the sale of an 11-project, seven-state portfolio with Marathon Capital as its exclusive financial advisor.
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IKEA’s financial arm, Ingka Investments, has joined Apex Clean Energy in developing Cameron Storage, the company’s first-ever battery storage project.
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Solar real estate investment fund SolaREIT has closed a $100 million investment with AB CarVal to grow SolaREIT's solar land, lease, and loan financing solutions. The investment can increase to $250 million in additional capital.
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Enbridge has agreed to acquire three Dominion Energy assets for $14 billion in a merger creating North America’s largest natural gas utility platform by volume.
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MUFG has refinanced its $500 million credit facilities for a natural gas-fired plant portfolio, Invenergy Thermal Operating I, owned by Invenergy and InfraBridge. The portfolio includes four operational plants, totaling 2.29GW, which are located in the US and Canada.
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OPAL Fuels, an RNG producer and distributor, has closed a $500 million senior secured credit facility to develop and construct new renewable energy projects.
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Middle-market solar and energy storage company CleanCapital is moving forward with climate tech startup Dock Energy as its official renewables transaction and asset management technology platform.
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Canadian green hydrogen developer EverWind Fuels has won a bid from the Newfoundland government to develop a green hydrogen project on the Burin Peninsula, Newfoundland.
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Renewable energy company RWE Clean Energy has commenced construction on its 200MW Montgomery Ranch Wind Farm in Foard County, Texas.
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Former Barclays investment bankers Robyn Underwood and Jason Kivett have joined the Pickering Energy Partners’ (PEP) investment banking practice to lead a newly formed team.
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The offshore wind troubles continue as Danish firm Ørsted has delayed its first US offshore wind project, Ocean Wind I, until 2026. Additionally, oil giants Equinor and BP are seeking to increase the power price of all three of the US wind farms in their partnership by over 50%.
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The Department of Energy (DOE)'s Loan Programs Office has given a $398.6 million conditional loan to Eos Energy Enterprises, a battery storage manufacturer. The funding will support Eos Energy's Turtle Creek, Pennsylvania, grid-scale BESS manufacturing facility, which is expected to produce over 8GWh of storage capacity per year.
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SouthCoast Wind, formerly known as Mayflower Winds, has terminated its power purchase agreements (PPAs) with Massachusetts utilities Eversource, Unitil, and National Grid for its offshore wind farm off the coast of Massachusetts.
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Oklo is set to provide nuclear power to a US Air Force Base after signing a Notice of Intent (NOI) with the Defense Logistics Agency Energy.
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GreenTechnologies has launched a renewable natural gas (RNG) production subsidiary GreenEdge Renewables.
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Canadian Solar’s subsidiary, Recurrent Energy, has closed $112 million in project financing for its 160MW Oklahoma solar farm. NordLB and Rabobank were the joint lead arrangers on the financing.
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The Bureau of Ocean Energy Management (BOEM) closed its first-ever offshore wind energy auction in the Gulf of Mexico with only one lease awarded: RWE Offshore US Gulf won with a bid of $5.6 million for a 1.24GW project.
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Priority Power, the energy management services, procurement and energy infrastructure development firm, has acquired power procurement advisor Atlas Retail Energy (Atlas).
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Power management company Eaton has invested $500 million to expand its transformer and EV charging technology manufacturing presence in North America, to aid in grid modernization and support the US energy transition.
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Oklo and Centrus Energy have entered a memorandum of understanding (MoU) for the development and operation of Oklo’s Aurora fission powerhouses and a nuclear fuel production site for high-assay, low-enriched uranium (HALEU).
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Apex Clean Energy has signed its first power purchase agreement (PPA) with Google for the full 189 MW capacity of the Timbermill Wind project to be sited in North Carolina.
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Investment firm HASI has extended its partnership with Summit Ridge Energy, a commercial solar and energy storage company, to finance the developer's pipeline of community solar projects in Illinois and Maryland until 2025.
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Foss & Company, an institutional investment fund sponsor, and Aspen Power executed a $60 million tax equity deployment for 27 solar projects across New York, New Jersey, Maine, and Georgia.
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The Bureau of Ocean Energy Management (BOEM) has approved the fourth US commercial-scale, offshore wind project, Revolution Wind, a 704MW offshore wind farm located southeast of Point Judith, Rhode Island.
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The Department of Commerce made a final decision in its long-running investigation into whether Southeast Asian solar manufacturers are using parts made in China that should be subject to a tariff, potentially harming solar projects that rely on these overseas imports.
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Clean energy platform Peregrine Energy Solutions has entered into an agreement with AB CarVal for $700 million in financing for Peregrine Energy's 7GW pipeline of solar, wind, and battery projects.
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Aethon Energy, an onshore energy focused investment firm, has made a string of senior hires.
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Norwegian energy company Equinor has acquired a 25% stake in carbon sequestration site Bayou Bend CCS.
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Greenbacker Renewable Energy Company (Greenbacker) has acquired three solar projects totaling a 12MWdc from OneEnergy Renewables.
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The Massachusetts Department of Public Utilities (DPU) approved the Eversource PPA termination for Avangrid Renewable's Commonwealth Wind project and revealed the final rules for the state's offshore wind procurement.
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Framingham, Massachusetts-based Ameresco has secured a $300 million senior secured loan facility from HASI to develop clean energy assets. Additionally, Ameresco and bank club leader Bank of America (BOA) have amended their senior secured credit facility.
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Senior Guggenheim Securities bankers have transitioned to Jefferies’ new energy transition banking team.
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Nodal Power, a landfill gas-to-energy developer, has raised $13 million in a seed round. Nodal Power will use the funding to build and operate multiple power plants in landfills, producing renewable electricity from methane gas.
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Deutsche Bank's US Private Credit and Infrastructure Group has provided a $125 million warehouse facility to Redaptive, an Energy-as-a-Service provider, to grow its metering, HVAC, solar, LED, EV, and other sustainability solutions.
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Avangrid is set to build its first solar project in California, the Camino Solar Project at 57MWdc and 44MWac, which is located in Kern County, adjacent to Avangrid's 189MW Manzana Wind Farm.
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French multinational utility company Engie has agreed to acquire the entire battery storage business of Houston-based Broad Reach Power from EnCap Energy Transition Fund I and co-investors Yorktown Partners, Mercuria Energy and Apollo Infrastructure Funds.
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Morgan Stanley Investment Management (MSIM), through Morgan Stanley Infrastructure Partners (MSIP), has entered a joint venture with US maritime and logistics company Crowley to repurpose US port facilities with offshore wind developers.
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The Department of Energy (DOE) has selected Pasadena, California-based developer CarbonCapture and its partners to receive $12.5 million in funding for a megaton-scale direct air capture (DAC) hub in southwestern Wyoming.
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Former Whitehall & Company vice president Ted Barrett has founded Carnyx Holdings, a New York-based infrastructure investment fund.
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Bess Power Corporation has secured $15 million in project debt financing from Leyline Renewable Capital to funds its 2.4GW utility-scale stand-alone storage pipeline.
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Connecticut-based renewable developer Telyon has closed on a strategic investment from an affiliate of Greenbacker Capital Management.
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Swedish battery manufacturer Northvolt has raised a $1.2 billion convertible note to finance its expansions plans in Europe and North America.
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Distributed solar energy asset owner and operator Spruce Power has acquired a portfolio of residential solar assets located in California, New Jersey, and Massachusetts.
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Rondo Energy has raised $60 million in financing to grow its international operations by developing and building storage projects globally to decarbonize the industrial sector.
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Pillsbury Winthrop has appointed tax attorney Don Lonczak as a partner in its global energy transition team, based in its Washington DC office.
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Greenbacker Renewable Energy Company (Greenbacker) has closed on a warehouse financing facility in an initial aggregate principal amount of $75 million to support the construction and operation of its renewable power generation and energy storage portfolios.
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A climate tech startup from former Google X, Tesla, and Solar City executives has reached the operational stage of a novel seawater-based carbon capture technology.
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Xcel Energy has filed the paperwork on an upgrade of nearly 100 miles of transmission line in Minnesota and eastern South Dakota,
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The Public Service Company of New Mexico (PNM) has reached an agreement with local legal authorities on the retirement of the San Juan coal plant under the Energy Transition Act.
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The latest banker to hand in his notice at the New York real assets and structured finance team of HSBC is causing a stir as a leading figure from the bank flown in to steady the ship.
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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.
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Leeward Renewable Energy (LRE) has concluded construction and begun commercial operation of its 100MW Oak Trail Solar project sited near Moyock, North Carolina.
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AC Power, a brownfield solar developer, has hired Christy Searl, former Leyline Renewable Capital managing director, as chief revenue officer.
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Illinois governor J. B. Pritzker has vetoed a portion of a bill that would limit transmission competition and raised prices on green energy projects in the state.
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Greenbacker Capital Management (GCM) has launched its fourth sustainability driven investment strategy, focusing on acquiring commercial and residential property wherever the company might reduce greenhouse gas emissions, reduce energy use intensity, and add additional renewable power sources.
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Duke Energy subsidiaries Duke Energy Carolinas and Duke Energy Progress have filed an Integrated Resources Plan (IRP) with the Public Service Commission of South Carolina (PSCSC) for future project development.
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Nomura Holdings and Angeleno Group have entered a partnership to co-invest and share intellectual capital on green energy and decarbonization projects within both companies. As part of the partnership Nomura will invest in Angeleno Group's recent venture capital and growth equity fund.
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Recurrent Energy, a subsidiary of Canadian Solar, has secured a 20-year tolling agreement with utility Arizona Public Service Company (APS) for a 1.2GWh storage project.
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American Electric Power (AEP) has completed the sale of its 1,365MW unregulated and contracted renewables business to IRG Acquisition Holdings, a consortium owned by Invenergy, CDPQ, and funds managed by Blackstone Infrastructure.
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Renewables platform Origis Energy has closed a $750 million construction warehouse facility to fund 2GW of large scale solar, storage, and solar-plus-storage project construction over the next three years.
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Ingevity Corporation has entered into a renewable product purchase agreement (RPPA) with a NextEra Energy Resources subsidiary to offset the Scope 2 emissions for Ingevity’s US manufacturing locations.
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International battery developer Powin Energy has hired Jeff Waters, former chief executive of Maxeon Solar Technologies, as CEO, replacing Geoffrey Brown.
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On-site industrial energy developer One Energy and SPAC, Tortoise Acquisition Corp. III (TRTL), have entered into a merger agreement to become the publicly listed company One Power Co. The new firm has an enterprise value of $300 million, with common stock valued at $10 per share.
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Clean energy platform Peregrine Energy Solutions has signed an agreement with environment-focused investment firm Greenprint Capital to sell multi-year production tax credits (PTC) from the Old Gold Energy Center.
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Milwaukee, Wisconsin-based Advanced Ionics, a new hydrogen electrolyzer developer start-up, has closed a $12.5 million Series A funding led by BP Ventures, the energy giant's venture capital group. Other investors in the start-up included Clean Energy Ventures, Mitsubishi Heavy Industries, and GVP Climate.
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The US Department of Energy (DOE) has announced the allocation of $1.2 billion to further develop two commercial-scale direct air capture (DAC) facilities.
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ArcLight Capital Partners has purchased Sojitz's indirect ownership of Kleen Energy Systems, owner of a 620MW natural gas plant in Middletown, Connecticut. ArcLight now has 100% of Sojitz's preferred equity and minority common equity interest of the natural gas facility.
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Greenbacker Capital Management (GCM) has completed, through an affiliated investment vehicle, a $148 million tax equity financing commitment with RBC Community Investments.
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The future will see carbon capture and sequestration (CCS) become a primary part of the green energy sector, but as of now public capital is needed to successfully navigate the risks associated with nascent technologies.
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Maxeon Solar Technologies is building its first US solar manufacturing plant in Alburquerque, New Mexico, Mesa Del Sol. The 3GW facility will open in 2025 and will require an investment of $1 billion.
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Vision RNG (VRNG) has started the commercial operation of a Landfill Gas (LFG) to Renewable Natural Gas (RNG) project at Meridian Waste’s Eagle Ridge Landfill in Bowling Green, Missouri.
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Origis Energy has appointed Vikas Anand as chief operating officer and chief financial officer.
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Blackstone has held a final close on its energy transition credit fund, Blackstone Green Private Credit Fund III (BGREEN III), at a $7.1 billion hard cap.
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Algonquin Power & Utilities (AQN) will pursue the sale of its Renewable Energy Group and commence leadership changes with a new interim chief executive.
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SUSI Partners, through its SUSI Energy Transition Fund with its joint venture partner SMT Energy, has signed a tax equity financing agreement with Greenprint Capital for a co-owned 100MW battery energy storage portfolio sited in Texas.
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Southern California Gas (SoCalGas) has filed an application with the California Public Utilities Commission (CPUC) for the development of the largest renewable natural gas (RNG) project in California.
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AI-enabled power marketer Gridmatic has launched its first energy storage fund to oversee the management of up to 500MW of battery capacity in the ERCOT and CAISO markets.
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Montauk Renewables has entered into a renewable energy certificate (REC) agreement with Duke Energy for its proposed waste-to-renewable energy facility in Sampson County, North Carolina.
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Swift Current Energy has closed $779 million in financing for its 800MW Double Black Diamond solar project in Illinois, projected to be the second largest single phase solar project in the US.
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The Alberta government has paused approval of renewable generation projects as the Alberta Utilities Commission (AUC) reviews recent policy issues and competing public interest factors.
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Three joint ventures (JV) for New Jersey's third offshore wind solicitations have been identified.
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Nucor Corporation has inked a power purchase agreement (PPA) with Sebree Solar to procure 250MW of renewable energy from a solar project in Henderson County, Kentucky.
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Clean energy provider Onyx Renewable Partners has appointed Jamie Weber as senior vice president of finance.
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Investment firm HASI intends to privately offer $350 million in aggregate principal amount of green exchangeable senior unsecured notes due in 2028.
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European Energy subsidiary EE North America (EENA) has entered a 15-year partnership with Montauk Renewables to purchase biogenically produced CO2 to power EENA's e-fuels production.
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NuScale Power Corporation, a small, modular nuclear reactor technology provider, as hired Robert Ramsey Hamady as chief financial officer and promoted Clayton Scott as chief commercial officer in a wave of leadership changes. The new hires will advance the manufacturing and development phase of its VOYGR small, modular reactor power plants.
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A search has commenced for the next Lightsource BP Americas chief executive, PFR has learned.
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Minnesota Power and Great River Energy's joint transmission project, Northland Reliability Project, has reached another step in the state regulatory process.
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Invenergy has closed a $1.5 billion revolving credit facility with Natixis Corporate & Investment Banking (Natixis CIB) to grow its development pipeline.
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Matrix Renewables, a solar energy and battery storage developer backed by TPG Rise, has acquired a controlling interest in Pleasant Valley Solar project from rPlus Energies.
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ICE Thermal Harvesting has closed on a $150 million credit facility with Gardner Capital Specialty Capital.
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Flux Power, an energy storage developer, has secured a $15 million credit facility from Gibraltar Business Capital (GBC) to fund working capital needs and refinance an existing facility with Silicon Valley Bank (SVB).
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The government of Cook County has signed its first renewables PPA.
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Whetstone Power has signed a power purchase agreement (PPA) with United Power which will offtake energy from the 30MW Solar of Alamosa project in San Luis Valley, Colorado.
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To download the full report as a PDF, click here.
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TSG Consumer Partners has made a private equity investment in residential solar, battery storage and energy provider Trinity Solar.
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Texas-based Vistra has completed its 350MW/1.4GW Phase III of the Moss Landing Energy Storage facility, now totaling 750MW/3GWh, in Monterey County, California.
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Arevon Energy has named former Lightsource BP Americas boss, Kevin Smith, as its chief executive.
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Peregrine Energy Solutions, a Boulder, Colorado-based BESS developer and renewable energy platform, has signed a Memorandum of Understanding (MoU) with Six Nations of the Grand River Development Corporation (SNGRDC) to create utility-scale battery storage projects in the Canadian market.
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GridStor, Portland, Oregon-based a battery storage system developer and operator, has appointed Frank Burkhartsmeyer as the company's chief financial officer.
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CleanCapital, a renewables development, management and business, is seeking bids for its group of Sunnyside Project.
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The Georgia cooperative that owns the Vogtle nuclear facility has reached commercial operations for its Unit 3 – the first newly constructed nuclear unit in the US in over 30 years.
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Domestic steel producer Steel Dynamics has signed a Renewable Product Purchase Agreement (RPPA) with a NextEra Resources subsidiary for its 308MW wind farm in Scurry County, Texas.
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Verde Clean Fuels, a gasoline, renewable feedstock and natural gas fuel provider, has signed a Carbon Dioxide Management Agreement (CDMA) with California Resources Corporation (CRC) and Brookfield Renewable.
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Hydro One, Ontario's largest transmission and distribution provider, has filed an application with the Ontario Energy Board (OEB) to build and run its proposed $1.2 billion Waasigan Transmission line, which will provide energy to northwestern Ontario.
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German manufacturer RCT Solutions has signed a memorandum of understanding (MoU) with the government of Manitoba, Canada to build a solar PV factory with a 10GW capacity.
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The Bureau of Ocean Management (BOEM) has finalized the Wind Energy Areas (WEAs) for its Central Atlantic offshore wind auction. The three areas are located off Delaware, Maryland, and Virginia, and can support approximately 4GW to 8GW of energy production once completed.
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Desjardins Group Pension Plan and DGAM Global Private Infrastructure Fund II have together acquired 37.5% ofCanadian wind farms Cypress 1 & 2 from EDF Renewables.
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Utility-scale battery storage platform Broad Reach Power has closed a $435 million credit facility to fund the construction of seven stand-alone energy storage projects in Texas and California.
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Iberdrola-owned Avangrid has completed its offshore substation for the 800MW Vineyard 1 wind project, off the coast of Massachusetts.
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Three major utilities in Massachusetts have terminated a power purchase agreement (PPA) with Avangrid’s 1,232MW Commonwealth Wind project, resulting in the former owing $48 million to make good on the defunct contract.
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First Solar intends to build a $1 billion manufacturing facility to expand its solar module production.
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The New York-based ANZ Bank power and infrastructure team has been boosted by 2 recent arrivals, 1 of whom started last week.
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The FERC has unanimously passed the final rule for Order #2023, which reforms the commission's generation interconnection procedures and aims to shorten the wait time for projects to connect to the grid.
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Synthica, a renewable natural gas company, has started construction of its new RNG facility sited in St Bernard, Ohio.
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A solar development partnership of three companies, automotive supplier Vitesco Technologies, Big Sun Solar, and Guadalupe Valley Electric Cooperative (GVEC), have signed the first three-party PPA in Texas.
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Enerdyne Power Systems, a gas-focused subsidiary of The Landfill Group, has commenced operation of a project to collect and upgrade landfill gas into usable renewable natural gas (RNG), the first of its kind to reach full commercial operation in South Carolina.
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Clearway Energy Group has closed a $421 million financing for its 147MW/588MWh Rosamond Central BESS project in Kern County, California.
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The broad benefits of the Inflation Reduction Act of 2022 (IRA) has meant tax equity has never played a more crucial role in driving investment in renewable energy projects in the US. Yet, while many project finance practitioners have been busy readying themselves to take advantage of this new and improved tax equity regime, the devil – as always – remains in the details. To shine some much-needed light on the evolving space PFR has brought together a panel of experts on tax equity to review the latest developments and innovations in this fascinating area of renewable energy finance, as well as the outlook for the coming years.
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Battery storage specialist Spearmint Energy has begun commissioning activities at its Revolution project, a 300MWh battery energy storage facility.
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Summit Ridge Energy has completed its first 2 of 4 energy storage systems (ESS) in New York City.
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Corre Energy B.V.'s North America subsidiary has entered an agreement to acquire a 280MW and 4.2GWh energy storage project in West Texas from Contour Energy, a Texas-based battery and storage developer.
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Tennessee Valley Authority (TVA), the largest public power supplier in the US, has acquired 279MW of solar panels from First Solar for its Lawrence County Solar Project located in Alabama.
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Energy Harbor has filed to renew an operating license for the company’s Perry nuclear power plant for another 20 years.
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SunEnergy1 LLC, a North Carolina-based commercial solar developer, has secured $211 million in financing from sole lead arranger First Citizens Bank for a 200MW solar power facility.
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ArcLight Capital Partners has appointed Gerry Anderson, former DTE Energy chairman and chief executive, to senior advisor and ArcLight Power Infrastructure board member. Anderson will guide the search to identify new investment opportunities for ArcLight across the renewables utility, and CCS sectors.
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Rockland Capital, a private energy investment company, has purchased a natural gas- and oil-fired energy facility in the NYISO market from GenOn Holdings, inc.
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BKV-BPP Power, a joint venture of BKV Corporation and Banpu Power US Corporation, has closed on its acquisition of the Temple II power plant, the company’s second natural gas generation asset.
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The Puerto Rico Electric Power Authority (PREPA), a public energy utility, has received approval from the Loan Programs Office (LPO) to apply for the Title 17, Energy Infrastructure Reinvestment (EIR) loan program for its renewable energy plan.
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The Inflation Reduction Act was finally signed into law after more than a year of negotiations last August. West Virginia Senator Joe Manchin (D), the deciding vote, lengthened discussions by insisting on capital being made available for retrofitting coal and oil plants, creating carbon capture projects, and adding emission control technologies.
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Fortescue Future Industries (FFI) has acquired Phoenix Hydrogen Hub, LLC (PHH), the company’s first large-scale US transaction following the Inflation Reduction Act.
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Invenergy has started commercial operations on its 200MW Calhoun Solar Energy Center in Michigan – the firm’s first project completed in the state.
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The Bureau of Ocean Energy Management (BOEM) has taken another step toward reaching the Biden-Harris administration's goal of reaching 15GW of offshore wind by 2035 with a wind farm proposal off the coast of Maine.
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FirstEnergy subsidiary West Penn Power will expand transmission in Pennsylvania as it begins connecting solar energy projects in Fulton and Franklin counties to the state’s electric grid.
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North America-focused fund manager Energy Power Partners’ senior executive, Suresh Vasan, has left the firm to join the Department of Energy’s Loan Program Office (LPO) as senior investment advisor.
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The Department of the Interior will hold an auction in August (2023) for the first-ever offshore wind energy lease in the Gulf of Mexico. The areas will have the potential to generate 3.7GW of power.
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Kimmeridge, an energy-focused investment firm, has hired Max Warburton to lead a renewable energy and carbon solutions platform as senior managing director.
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Urban battery storage developer, NineDot Energy, has closed a $25 million revolving credit facility provided by NY Green Bank (NYGB), a division of the New York State Energy Research and Development Authority (NYSERDA).
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Rhode Island Energy has dropped its long-term power purchase agreement (PPA) with Ørsted and Eversource for the developers’ joint proposal of offshore project Revolution Wind 2.
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Germany-based utility RWE has signed 8 long-term and utility-scale PPAs with Dominion Energy Virginia for 7 solar projects totaling 300MW.
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Enel North America will be entering a retail electricity supply agreement with power management company Eaton in an extension of pair’s long history.
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