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One Year Ago

  • Pattern Energy was trying to sell a minority stake in its 1 GW of operational, contracted wind farms in North America to raise cash for project development.
  • Bankers were bullish on financing merchant facilities at Euromoney Seminars’ 8th Annual Power & Renewables Conference in New York.
  • LS Power was nearing a pair of club deals on its Doswell and Riverside gas-fired plants. [The sponsor had been mulling weather to proceed with a term loan B refinancing of Doswell, after a sale process cooled (PI, 10/29).]
  • Brookfield Renewable Energy Partners offered C$2.50 ($2.51) per share for Western Wind Energy Corp., as it looked to increase its stake in the company.
  • A lack of uniform standards for commercial solar installations was proving to be the main obstacle to structuring the market’s maiden securitization of solar panel revenues, according to Paul Detering, ceo of Tioga Energy.
  • PPL Corp. was shopping its hydro and coal-fired subsidiary PPL Montana in a sale run by UBS.
  • State Street affiliate Antrim took a tax equity stake in NextEra Energy Resources’ 400 MW Limon I & II wind farms in Colorado alongside JPMorgan, Bank of America and Wells Fargo.
  • Barclays dispatched teasers for the 400 MW Gregory gas-fired cogeneration facility near Corpus Christi, Texas, that Rockland Capital, John Hancock Life Insurance and Atlantic Power Corp., were trying to sell.
  • A team from Union Bank moved over to Pasadena, Calif.-based OneWest Bank to establish a power and project finance operation under Grant Ahearn, executive v.p. and head of the specialized financial services group.
  • Duke Energy shelved the strategic evaluation of its 7.5 GW Midwest generating fleet as it goes through a rate increase request with the Ohio Public Utilities Commission. [The company expects Ohio regulators to come to a ruling this fall, with the company making a decision about the future of the subsidiary in the first quarter (PI, 8/9).]
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