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PSEG Power has shuttered the last coal-fired power plant in its fleet, marking the completion of its long-term coal exit strategy.
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Troubled Australian asset manager AMP, the parent company to US renewables investor AMP Capital, has avoided a second shareholder vote against executive pay by a slim margin.
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NextEra Energy has recorded a $180 million revenue hit owing to the severe winter weather in Texas in February, which forced as much as 46 GW of generation offline.
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As Latin America's power sector grapples with the consequences of the pandemic, PFR has brought together a diverse panel to share their perspectives on how the market will move forward.
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Longview Power – the owner of a 700 MW coal-fired plant in West Virginia – emerged from its most recent prepackaged Chapter 11 restructuring on July 31.
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Javier Mateache Sacristán, the co-founder and U.S. CEO of Elawan Energy (formerly Gestamp Wind), passed away on June 25, following the recurrence of a previously treated cancer, at the age of 53.
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With single-digit reserve margin forecasts drawing solar, battery and peaker developers to Texas in droves, PFR reporter Shravan Bhat visited Houston last week to catch up with the Ercot community and assess the market for power price hedges.
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The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter.
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The U.S. Senate has confirmed Neil Chatterjee and Robert F. Powelson to serve on the Federal Energy Regulatory Commission.
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A key fixture in the power finance calendar, Infocast's annual Projects & Money conference at Harrah's New Orleans drew the great and the good of the industry. Managing editor Olivia Feld attended.
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GE Capital's Homer City coal-fired project in Indiana County, Pa., has filed for a pre-packaged restructuring under Chapter 11, as expected.
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Renewables projects in the U.S. sealed almost 1 GW of power purchase agreements in the last two months, according to data gathered by PFR. Non-utility offtake arrangements outweighed PPAs with traditional utilities and more solar than wind was contracted, but the picture varied state by state.
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In this week’s Industry Current, Bernays ‘Buz’ Barclay, managing partner at Rimon P.C. and senior adviser to Marathon Capital, calls on the power industry to engage with blockchain technology.
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WPPI Energy has issued a request for proposals for 100 MW of renewable generation, preferably from projects in Wisconsin.
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A solar powered airplane that could become the first aircraft to fly around the world without fuel has begun crossing the U.S.
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Michigan Electric Transmission Company, a subsidiary of ITC Holdings Corp., has issued a $200 million secured private placement to refinance an unsecured term loan due in 2018.
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PSEG Long Island, on behalf of the Long Island Power Authority, has issued a request for proposals for 535 MW in western Nassau County, N.Y.
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Corporations in a range of industries continue to supplant utilities as offtakers for renewable projects in the U.S., as they seek to bolster their green credentials.
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Non-utility corporate offtakers have continued to snap up power purchase agreements for the output of renewables projects in the last months, and it’s not all for data centers, although there were a couple of those.
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The causes and consequences of the recent yield company turmoil, the impact of the Clean Power Plan and hopes to resurrect the production tax credit were all topics of conversation at the American Wind Energy Association Wind Energy Finance and Investment Seminar in at the Roosevelt Hotel in New York.
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A Californian utility has employed 20 sure-footed creatures to help haul equipment to its remote hydroelectric project in the Eldorado National Forest.
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On Sept. 16, PJM market participants and industry observers from further afield gathered for the PJM Market Summit to discuss the introduction of new capacity performance rules and the evolution of demand response products.
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Entergy Corp. is evaluating whether to refuel its 850 MW James A. FitzPatrick Nuclear Power Plant near Oswego, N.Y., against a backdrop of low power prices.
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The cfo of Abengoa Yield resigned on Monday, four months after the yield company’s ceo departed to run its parent company, Abengoa S.A.
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University of Minnesota students have unveiled a solar-powered hybrid car that they will take to the other side of the world to race across Australia.
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San Diego Gas & Electric has become the first utility to receive the Federal Aviation Administration’s permission to use drones.
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Two on-site wind turbines have been installed at the Eiffel Tower, as part of the first major renovations at the Parisian landmark in 30 years.
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Google is unveiling airborne wind turbines based on the designs of an avid kite-surfing engineer. The turbines will take flight next month.
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Technology companies are providing a bright spot in the perennial hunt for power purchase agreements this month.
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Wendy Carlson, former managing director of Marathon Capital, has joined Prudential Capital Group as the managing director of its power unit.
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Renewable developers RES America and Blackstone Group-backed OffshoreMW have won leases in the largest U.S. offshore wind auction to date.
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E.ON Climate & Renewables and GE Energy Financial Services have sealed tax equity investment for the 211 MW Grandview wind project in Amarillo, Texas.
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The House of Representatives has voted overwhelmingly in favor of a package of tax extensions that includes a one-year renewal of the production tax credit.
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Jerry Stalun, a former managing director at EIG Global Energy Partners, has joined Sol Systems as its senior director of investments. Stalun joined the Washington D.C.-based company Nov. 21 and reports to Yuri Horowitz, ceo.
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In the end, the beauty of renewables won out over novelty.
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The step down in the investment tax credits in 2016 have solar developers and financiers at the drawing board to create financing structures that will work for a pipeline of projects, according to speakers at Solar Media's Next Generation Solar PV Finance conference in New York.
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JPMorgan Capital Corp. has agreed to sell a portion of its tax equity investments in a portfolio of 10 wind farms to Hannon Armstrong Sustainable Capital.
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TransCanada and Elecnor have dropped out of a request for proposals to build and own the 310-mile Fort McMurray transmission project in Alberta.
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The U.S. Army Corps of Engineers has issued a request for proposals for an onsite solar project at the Redstone Arsenal in Huntsville, Ala.
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Solar developers are recruiting wooly mammals to keep landscaping in check at their projects in the western U.S.
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The U.S. Bureau of Ocean Energy Management is auctioning off a pair of offshore wind plots that could accommodate up to 1.45 GW in the waters off Maryland.
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The City of Palo Alto Utilities in Palo Alto, Calif., has issued a request for proposals as it looks to establish a community solar program that allows utility customers to invest directly in solar generation.
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Solar and wind developers are looking to decrease project development costs in the face of expiring subsidies and dwindling renewable portfolio standards.
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Many wind and solar developers with smaller projects are having difficulty locking in debt and equity, despite a widely acknowledged increase in the amount of capital available to the power sector.
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Arizona Public Service has issued a request for proposal from solar developers and installers for two 10 MW utility-scale solar photovoltaic facilities in Arizona.
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SunEdison has agreed to purchase 50 MW of solar projects in Massachusetts from Boston-based renewable developer BlueWave Capital.
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NorthWestern Energy has launched a call for up to 45 MW of community-scale renewable energy in Montana.
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The Board of Water & Light in Lansing, Mich., has issued a request for proposals for 5 MW of solar.
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Dino Barajas, partner specializing in project finance and Latin America transactions at Akin Gump Strauss Hauer & Feld in Los Angeles, writes an overview of how recent reforms could shape the energy sector.
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DTE Energy has sold the retired 167 MW Marysville coal-fired plant to Commercial Development Co., an industrial brownfield redevelopment firm.
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Bostonia Partners has hired Randall Male as managing director in its Boston office.
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Energy Transfer Equity LP is buying out Iberdrola USA’s stake in a gas-fired facility in Pennsylvania.
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AES Corp. and Duke Energy are awaiting the outcome of the 2017-2018 capacity auction in PJM before taking bids in their respective auctions of unregulated generation in Ohio.
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New Zealand-based retail energy company Meridian Energy has sold a solar facjility in California to SunEdison—the final step in Meridian’s exit from the U.S. power market.
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Tenaska Solar Ventures has launched a debt package that could be north of $500 million to fund construction of its 150 MW Tenaska Imperial Solar Center West in Imperial County, Calif.
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Corporación América, an infrastructure-focused conglomerate out of Argentina, has closed a $176 million debt package financing the Carape I and II wind projects in Maldonado, Uruguay.
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Cheniere Energy is out to issue $2 billion in senior secured 144A bonds to fund capital costs on trains one through four at its Sabine Pass liquefied natural gas export facility in Louisiana.
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Clean Power Finance, a financial services and software provider for the residential solar industry, has raised $200 million in a fund to finance residential solar projects.
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Black Hills Energy-Colorado Electric has issued two requests for proposals for a total of 102 MW in southern Colorado.
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Boston-based First Wind has closed a $369 million financing package backing the 148 MW Oakfield wind project in Aroostook Country, Maine.
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Australian outfit Liquefied Natural Gas Limited has privately place $49.5 million in shares to existing institutional investors in Australia and the U.S. to fund the company’s operations until it reaches financial close on the debt for its $2.2 billion Magnolia LNG project.
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Canadian Solar has landed a C$115.5 million ($105.15 million) construction loan backing 30 MW of solar projects in Ontario.
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This week’s Industry Current on pricing, environmental impacts and new opportunities for generation and storage development is written by Laura Norin, senior project manager, Julia Getchell, associate, and Heather Mehta, principal, with power and energy consultancy MRW & Associates in Oakland, Calif.
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Natural gas pipeline owner Fermaca Enterprises is issuing $527 million in 144A notes to refinance debt on the Tarahumara pipeline in Mexico’s Chihuahua state before it adds a compression station to increase capacity.
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Belgian shipping and engineering company Exmar NV is looking to lock in $170 million in debt to back the world’s first floating liquefied natural gas export facility in waters off of Tolu, Colombia, in the Gulf of Morrosquillo.
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Rockland Capital has lined up a credit facility from Investec to backing its first fund Rockland Power Partners.
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SunEdison and Deutsche Bank have inked their fourth deal in 2014—this one financing construction of the 60 MW Regulus project in Kern County, Calif.
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NextEra Energy has confidentially filed an S-1 with the U.S. Securities and Exchange Commission, putting it on track to take a portion of its unregulated assets public.
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Invenergy has closed a refinancing of the debt on the 620 MW Grays Harbor Energy Center natural gas-fired in Elma, Wash.
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Alterra Power Corp. and Fiera Axium Infrastructure are looking to secure debt to back construction of the 62 MW Jimmie Creek hydro project in southwest British Columbia.
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Northland Power has closed a C$240 million ($217.55 million) financing package backing five 10 MW solar projects in Ontario.
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True Green Capital Management has closed a $130 million credit facility backing a 22 MW portfolio of commercial solar facilities in the northeast U.S.
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SunEdison has closed a C$115 million ($104.24 million) construction loan for a pair of utility scale solar projects totaling 33 MW in Ontario, Canada.
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Deutsche Bank has topped league tables for the first quarter of 2014, highlighting a resurgence of European lenders in power and energy project finance in the U.S. and Canada.
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SunPower has teamed up with tech giant Google on a $250 million fund that will buy residential rooftop solar installations across the U.S.
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Solar developer FLS Energy is looking to buy up to 100 MW of solar photovoltaic projects in the Duke Energy or Dominion North Carolina Power service territories.
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Abengoa subsidiary Abengoa Transmission Sur has closed a $432 million 144A bond refinancing of the 500 kV transmission project in Peru.
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Hannon Armstrong Sustainable Infrastructure Capital and Sol Systems have created a $100 million fund to develop distributed solar projects.
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The #PowerTweets feature tracks trends in power project finance and M&A in the Americas on Twitter
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MISO’s second capacity auction yielded capacity price increases in each zone but fell short of some estimates.
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The PPA Pulse is a guide to which sponsors and projects have recently garnered power purchase agreements in the Americas.
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Blackstone Energy Partners-backed Fisterra Energy and CEMEX have closed a $490 million debt package backing the 252 MW Ventika wind project in Nuevo Leon, Mexico.
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The Georgia Public Service Commission has issued a request for proposals via Southern Power Company for 495 MW of utility scale solar photovoltaic generation in the state to go online in 2015 and 2016. Accion Group will be the independent evaluator of the RFP.
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A round-up of renewable tax law developments from David Burton, partner, and David Snyder, associate, at Akin Gump Strauss Hauer & Feld in New York.
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SunEdison has closed the first $150 million tranche of a $300 million three-year revolving credit facility arranged by Deutsche Bank Securities.
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New Generation Power is talking to lenders about lining up roughly $700 million in financing backing the 400 MW New Generation Power Texas wind project in Haskell County, Texas.
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Project finance bankers at Platts’ 29th Annual Global Power Markets are seeing strong deal flow and a growing pool of lenders and financing options in the power sector this year.
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The impact of distributed solar generation on the market is challenging the traditional utility-centric model and piquing financier interest, according to panelists at Platts’ 29th Annual Global Power Markets conference at the Wynn Las Vegas in Las Vegas, Nev., April 8.
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Duke Energy and Piedmont Natural Gas have issued a request for solicitations for a natural gas pipeline to meet growing demand for the fuel in North Carolina. The companies expect to select a bid later this year.
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Energy Investors Funds is in the market talking to lenders about lining up a debt package backing the 655 MW natural gas-fired Newark Energy Center in Newark, N.J.
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Canadian Solar has landed a C$50.5 million ($45.66 million) construction and term financing from Manulife Financial backing the 10 MW Mighty Solar project in North Dundas, Ontario.
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AMP Capital has raised another $450 million to take the overall amount in its AMP Capital Infrastructure Debt Fund II to more than $750 million.
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SolarCity has closed a $250 million financing backing more than 200 MW of solar systems for rooftops and businesses.
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Macquarie Group and Altus Power America Management have launched a $100 million Clean Energy Land Program to help finance solar and wind projects in the U.S. by covering real estate costs associated with project development.
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Sunnyvale, Calif.-based Clean Focus Corp. has closed an $88 million debt package backing nine solar projects in Massachusetts.
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Jeetu Balchandani, director and head of lease, tax, infrastructure equity and tax credit investments at MetLife Investments, has left the company.
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Ares Capital Corporation has added Owen D. Hill and Jonathan M. Shepko, formerly managing directors at a Beal Bank affiliate, as managing directors in the company’s Dallas office.
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Abengoa has mandated BNP Paribas and HSBC to lead a $412 million 144A senior secured note offering that will refinance subsidiary Abengoa Transmisión Sur’s Chilca Nueva-Marcona Nueva-Ocoña-Montalvo 2 transmission project in Peru.
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Cape Wind and The Bank of Tokyo-Mitsubishi UFJ have added Natixis and Rabobank as lead arrangers on the structuring and syndication of the approximately $1.5 billion in commercial bank debt backing the 468 MW off-shore wind project near Cape Cod, Mass.
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Enel Green Power has inked a EUR153 million ($210.88 million) agreement with Banco Santander to help grow the sponsor’s wind operations in Mexico.
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SunEdison has secured a tax equity investment from Wells Fargo following the completion of the 24 MW Cascade solar facility in north Joshua Tree, Calif.
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Pattern Energy has closed the C$850 million ($757.78 million) non-recourse mini-perm backing the 270 MW K2 wind project in Ashfield-Colborne-Wawanosh, Ontario.
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Developers and financiers are keeping an eye on Washington as the expiration of the solar investment tax credits begins to impact financings for projects with longer construction periods.
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Energy Capital Partners has closed $480 million in senior secured credit facilities refinancing the natural gas-fired, merchant 635 MW Empire Generating facility in Rensselaer, N.Y.
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Sempra U.S. Gas & Power has closed the roughly $440 million non-recourse debt package backing the Copper Mountain III solar project near Boulder City, Nev.
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First Wind is aiming to lock in pricing of LIBOR plus 225 basis points for the roughly $300 million construction and term loan backing the quasi-merchant 147 MW Oakfield wind project in Aroostook County, Maine.
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Sempra U.S. Gas & Power is expected to wrap next month a roughly $250 million debt package backing the 156 MW Energía Sierra Juárez wind project in La Rumorosa, Baja California, Mexico.
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The much-discussed reforms to the Mexican energy sector will provide opportunities for foreign investment in renewables projects, according to panelists at Euromoney’s 8th Annual Latin American Energy and Infrastructure Finance Forum at the Biltmore Hotel in Miami on March 11.
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A maturing project finance market in Latin America is opening up opportunities for structures such as those with with term loan B or mezzanine tranches to play alongside traditional forms of debt, noted panelists at Euromoney’s 8th Annual Latin American Energy & Infrastructure Finance Forum at the Biltmore Hotel in Miami on March 12.
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The PPA Pulse is a guide to which sponsors and projects have recently garnered power purchase agreements in the Americas.
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Blackstone-owned residential solar company Vivint Solar has raised $280 million across three tax equity transactions.
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Xcel Energy has issued a request for proposals for up to 150 MW of large-scale solar resources in its Northern States Power Co. service territory by the end of 2016.
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Cameron LNG is shooting for pricing of LIBOR plus 175 basis points for the bank loan tranche of the financing backing its almost $10 billion liquefied natural gas export facility in Hackberry, La.
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A unit of Energy Capital Partners will have voting power in MACH Gen via a derivative contract with second-lien debt holder Deutsche Bank.
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Pattern Energy is set to line up a large club of banks to raise the approximately C$750 million ($676.22 million) in debt backing the 270 MW K2 wind project in Ashfield-Colborne-Wawanosh, Ontario.
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Florida-based development shop NTE Energy is looking to raise construction equity and then debt backing three gas-fired projects in the U.S.
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Someera Khokhar, the Americas regional section head for White & Case’s energy, infrastructure, project finance and asset finance group and José Ignacio Segura Alonso, White & Case local partner look at how a 2012 law will attract investors to the country.
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Energy Capital Partners has launched a $480 million debt package to refinance the natural gas-fired, merchant 635 MW Empire generating facility in Rensselaer, N.Y.
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Cape Wind is poised to land a $600 million loan from the Danish export credit agency EKF backing the 468 MW project off the coast of Cape Cod.
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The Blackstone Group and Transmission Developers, sponsors of the $2.2 billion Champlain Hudson Power Express transmission project, are looking to secure a debt package backing the project by year-end.
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Beowulf Energy and Natural Gas Partners, affiliates of Paul Prager’s Bicent Energy, have landed a $200 million refinancing of their Vernon portfolio of projects.
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Christopher Yonan, formerly a director of leveraged and project finance at Barclays, will join Morgan Stanley as an executive director in April.
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A rush to qualify projects for the production tax credit at the end of 2013 means that thousands of megawatts of projects will be looking for financing this year.
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The growth and availability of term loan Bs are set to continue, driven largely by activity in the mergers and acquisitions market, according to panelists at Euromoney’s 9th annual U.S. Power and Renewable Finance conference at the Westin New York at Times Square on Thursday.
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Duke Energy has issued a request for proposals for 300 MW of solar generation in its Duke Energy Carolinas and Duke Energy Progress territories.
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First Wind has closed a $206 million debt package backing its 150 MW Route 66 wind project near Amarillo, Texas.
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Mitsubishi UFJ Financial Group has dominated year-end league tables for the fourth quarter and 2013 as a whole, topping both lists.
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Canadian Solar is looking to sell almost three million shares and up to $130 million in 144A convertible senior notes due 2019.
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Competitive Power Ventures is talking with lenders about securing up to $600 million backing the 725 MW gas-fired St. Charles project in Charles County, Md.
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BlackRock has purchased its fourth Ontario solar project from Canadian Solar, with the acquisition of the 10 MW Oro-Medonte project.
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BluEarth Renewables is looking to secure upwards of C$300 million ($270.15 million) backing three renewable projects in Canada in the coming months.
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SunPower Corp. has launched a financing program with Bank of America Merrill Lynch to support approximately $220 million of solar residential lease projects.
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Atlantic Power Corp. has launched an up to $800 million debt package as it looks to rework its capital structure and avoid a covenant breach.
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A California court has annulled a decision to allow Pacific Gas & Electric to acquire Radback Energy and Wellhead Electric’s 614 MW Oakley gas-fired project upon completion.
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BluEarth Renewables is nearing financial close on a C$165 million ($148.64 million) debt package backing a troika of solar photovoltaic projects in Ontario.
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A swathe of lenders are taking ticket sizes of up to $600 million in the $4 billion financing backing one of the trains in the Freeport liquefied natural gas export project, say observers.
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Atlantic Power Corp. has launched a refinancing package comprised of a $600 million term loan and $200 million in senior secured revolving credit facilities.
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Denver-based solar company Conergy Americas has launched a $100 million fund to finance solar projects in the U.S.
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Utilities and independent power producers are not immune from the wave of activist shareholders campaigns that have emerged as a driving force of U.S. M&A deals, bankers cautioned at the 27th Annual Exnet Power and Gas M&A Symposium conference in New York.
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Dialogue is needed between developers and financiers on renewable projects that involve communities and First Nation groups, according to speakers at the 5th Annual Canadian Power Finance Conference in Toronto Jan. 29.
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The number of assets coming up for sale in Canada is not as high as it was a couple of years ago, despite an uptick in the number of institutional investors looking to play in the space, according to panelists at the 5th Annual Canadian Power Finance Conference in Toronto Jan. 28.
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Sponsors and lenders are zeroing in on the burgeoning liquefied natural gas space in British Columbia, according to participants at the 5th Annual Canadian Power Finance Conference in Toronto on Jan. 29.
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Competitive transmission projects are a key area of growth for utility holding companies looking to augment the regulated subsidiaries.
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Utilities are looking at rooftop solar programs and initiatives largely because of customer demand.
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Energy efficiency and demand response assets in the U.S. are investment opportunities that have been largely overlooked by large financial players.
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Joule Assets is raising a $100 million fund to lend to commercial and industrial energy efficiency assets as a step toward securitizing the cash flows from the projects.
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Kilowatt Financial, a financial services company focused on residential energy efficiency and solar, has received a $100 million debt facility from Citigroup to fund its residential energy efficiency loan unit.
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Houston-based independent power producer FGE Power has mandated Goldman Sachs to lead a financing backing its more than $500 million, 739 MW combined cycle gas-fired project near Westbrook, Texas.
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Wind developer Globeleq has netted a debt package backing the $69 million, 24 MW expansion to the existing 101 MW Cerro de Hula wind facility in San Buenaventura, Honduras.
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Legal issues in PJM and a waning need for generation in ERCOT are impacting investments in new-build projects in those regions, according to panelists at Infocast’s 6th annual Projects & Money conference at Harrah’s New Orleans Jan. 15.
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Mezzanine lending and project bonds are tipped for increasing activity by panelists at Infocast’s 6th annual Projects & Money conference at Harrah’s New Orleans Jan. 16.
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Recurrent Energy has landed a $390 million senior secured private placement backing its 108 MW Borealis portfolio of solar photovoltaic projects in Ontario, Canada.
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Pattern Energy and its partners are shooting for pricing of LIBOR plus 175 basis points on the C$800 million ($739.85 million) mini-perm backing the 270 MW K2 wind project in the township of Ashfield-Colborne-Wawanosh, Ontario.
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Biomass pellet company Enviva has brought on Martin Livingston, formerly a managing director at WestLB, as v.p. of infrastructure, finance and development.
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Starwood Energy Group has closed a $265 million construction debt including letters of credit and tax equity package backing the 211 MW Stephens Ranch wind project near Lubbock, Texas.
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NRG Energy has secured a $97.4 million senior secured credit facility refinancing its 105 MW Saguaro combined cycle cogeneration facility in Henderson, Nev., which it had been trying to sell.
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A Korean joint venture between Korea Southern Power Corporation and Samsung C&T Corporation has mandated Natixis as financial advisor to lining up debt backing the 517 MW Kelar combined cycle gas-fired project in the north of Chile.
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SunEdison has secured a $320 million letter of credit from Deutsche Bank and has issued $1.2 billion in convertible bonds to refinance debt and save $35 million in payments annually.
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Globeleq has closed a $105.1 million financing backing the 50 MW Orosi wind project in Liberia, Costa Rica.
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Invenergy has closed a refinancing of the 100.5 MW Beech Ridge wind facility in Greenbrier County, W. Va.
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Invenergy has lined up a debt and tax equity package backing its purchase and construction of the 288.6 MW Miami wind project in the Texas panhandle.
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AES Gener and Antofagasta Minerals have closed the $1.217 billion debt package backing the 531 MW Alto Maipo hydro project in Chile.
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Use of the phrase yieldco to describe three recent share flotations by NRG Yield, TransAlta Renewables and Pattern Energy Group masks very different business arrangements.
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A consortium comprising Peru’s Cobra Perú and Argentina’s Enersa called Planta de Reserva Fría de Generación de Eten has launched Latin America’s maiden international greenfield project bond.
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ArcLight Capital Partners-subsidiary NET Midstream has closed a $665 million financing backing the U.S. situated section of the Los Ramones natural-gas pipeline.
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Price talk on the B loan backing Moxie Energy and Panda Power Funds’ Patriot project is coming in at LIBOR plus 600 basis points, according to deal watchers.
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Japanese and Canadian banks topped lender project finance league tables for North America power and energy deals in the third quarter, as the B loan boom quieted down and bank debt came back to the fore.
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De Lage Landen, a subsidiary of Rabobank, has increased the amount of capital in a solar-leaseback fund backing SunEdison’s expansion to in excess of $100 million.
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Australian outfit Liquefied Natural Gas Limited is set to appoint BNP Paribas and Macquarie Capital as financial advisors for $1.54 billion in debt backing the Magnolia LNG facility in Lake Charles, La.
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Conifex Timber has closed a C$102.7 million ($96.4 million) financing backing its 36 MW biomass project in Mackenzie, B.C.
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Pattern Energy, Capital Power and Samsung Renewable Energy have approached banks about securing a C$800 million ($750.89 million) mini-perm deal backing the K2 wind project in the township of Ashfield-Colborne-Wawanosh, Ontario.
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Invenergy is planning to tap institutional investors in a private placement to line up just under $400 million for its merchant 288.6 MW Miami wind facility in Roberts, Hemphill and Gray Counties, Texas.
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Goldman Sachs will launch a $585 million financing package backing Panda Power Funds and Moxie Energy’s $800 million, merchant, gas-fired Moxie Patriot project this Thursday.
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PurEnergy and Southern Company are circling a $296.2 million restructuring of the debt backing the 440 MW lignite coal-fired Red Hills coal-fired facility via two bond issuances.
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AES Gener and Antofagasta Minerals are close to wrapping the financing backing the $2 billion, 531 MW Alto Maipo run-of-river hydro project in Chile, tapping the multilateral, bank and bond markets.
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Southern Company subsidiary Southern Electric Generating has issued $100 million in 144A bonds, with the company keen to tap the attractive rates available for borrowers.
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Sempra Energy has issued $500 million in senior unsecured notes to pay off commercial paper, as Treasury rates settle back down to near record lows following a spike earlier in the year.
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Tenaska Solar Ventures has closed the $319.4 million bond refinancing of the 130 MW Tenaska Imperial Solar Energy Center South facility near El Centro, Calif.
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The U.S. Department of Energy is expanding its 1703 loan guarantee program to back natural gas-fired and oil-fired projects, with $8 billion of guarantees to deploy in the latest phase of the program.
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SunEdison has closed a $126 million non-recourse debt financing backing the 50 MW San Andres solar facility in the Atacama Desert, Chile.
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Three staffers from Rabobank’s renewable energy team have joined private equity shop Pegasus Capital Advisors in New York.
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Cheniere Energy has issued $1 billion of senior secured notes to reduce bank debt backing the first four liquefaction trains at its liquefied natural gas export project in Cameron Parish, La.
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Veolia Environnement and Electricité de France-backed Dalkia Canada and Fengate Capital Management have started talking with banks about securing roughly C$175 million ($168 million) backing their 40 MW Merritt biomass facility in Merritt, British Columbia.
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Electricité de France-backed Dalkia Canada and Fengate Capital Management have closed a C$175 million ($168 million) debt package backing the 40 MW Fort St. James biomass facility near Fort St. James, British Columbia.
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Pattern Energy is gearing up to launch a financing backing the second phase of its 322 MW Panhandle wind project in Texas.
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ArcLight Capital Partners affiliate NET Midstream is looking to launch a syndication of roughly $500 million in debt backing its NET Mexico gas pipeline in Texas.
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The Long Island Power Authority has issued a request for proposals for just under 2,000 MW of renewable and peak generation capacity.
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Bank of America subsidiary BAL Investment & Advisory is aiming to take tax equity stakes in two NextEra Energy Resources wind farms.
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ArcLight Capital Partners affiliate NET Midstream is looking to launch a syndication of roughly $500 million in debt backing its NET Mexico gas pipeline in Texas.
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Dan Lonergan, formerly a senior managing director at Tenaska Capital Management, has been promoted to ceo.
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Distributed solar company SunRun will tap Ares Capital Management to provide $70 million in debt to finance new projects.
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The $990 million financing of the 614 MW Oakley gas-fired project has been temporarily put on hold as co-developers Radback Energy and Wellhead Electric await a court ruling on the merits of a petition challenging the facility’s power purchase agreement.
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Recurrent Energy has approached banks about securing more than $350 million backing a portfolio utility scale solar projects in California.
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Pemex has split the Los Ramones II pipeline project and awarded mandates to Sempra and GDF Suez joint ventures.
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LS Power’s $1.26 billion refinancing of its 900 MW Sandy Creek pulverized coal-fired facility in Texas has been oversubscribed, deal watchers say.
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Canadian Solar has landed a C$104 million ($100 million) non-recourse construction financing backing three solar photovoltaic facilities in Ontario totaling 30 MW.
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SolarCity is set to issue the debut solar securitization, with a private placement of $54.425 million of solar asset-backed notes.
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The Inter-American Development Bank will provide up to $132.6 million in debt backing Uruguayan developers’ Vengano S.A. and Fingano S.A.’s Carapé I and Carapé II wind projects in the Maldonado region, Uruguay.
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Boralex and development partners Gaz Métro Limited Partnership and Valener Inc. have closed a C$166.1 million ($159.05 million) non-recourse financing for the 68 MW phase II of the Seigneurie de Beaupré wind facility in La Jacques-Cartier, Québec.
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Lenders and financiers watching the rebirth of merchant and quasi-merchant project financing in the U.S. are still looking to find optimal structures for financing these assets, said panelists at Platts 15th Annual Financing U.S. Power Conference at the Marriott Marquis in New York on Oct. 28-29.
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Lenders and financiers watching the rebirth of merchant and quasi-merchant project financing in the U.S. are still looking to find optimal structures for financing these assets, said panelists at Platts 15th Annual Financing U.S. Power Conference at the Marriott Marquis in New York on Oct. 28-29.
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Boralex and development partners Gaz Métro Limited Partnership and Valener Inc. have closed a C$166.1 million ($159.05 million) non-recourse financing for the 68 MW phase II of the Seigneurie de Beaupré wind facility in La Jacques-Cartier, Québec.
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The global term loan B market is set to have a record breaking year in 2013, beating the previous largest year of issuance in 2007.
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Samsung Renewable Energy has closed the C$525.3 million ($502.9 million) debt package backing the 100 MW Grand solar facility in Haldimand County, Ontario.
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Industry officials expect to see several developers to pursue yield company structures in the next year following the success of NRG Energy and Pattern Energy’s breakthrough deals.
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Mergers and acquisition activity is slated for growth in the next year, as yieldcos look to acquire more assets to fuel growth and private equity companies look to exit investments, said panelists at Platts 15th Annual Financing U.S. Power conference at the Marriott Marquis in New York on Oct. 28-29.
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Moxie Energy is shooting to launch a B loan package in November backing the merchant Moxie Patriot gas-fired facility in Lycoming County, Pa., say deal watchers.
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Etrion Corp., a solar developer with assets in Europe and South America, is looking at ways to fuel growth.
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Boston-based developer First Wind has approached banks about securing a debt package for the 200 MW Route 66 wind facility east of Amarillo, Texas.
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Austin Energy has issued a request for proposals for up to 50 MW of solar generation.
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Blackstone-backed residential solar provider Vivint Solar has secured roughly $740 million in project financing as it looks to grow its business.
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LS Power has launched a $1.025 billion B loan refinancing its stake in the 900 MW Sandy Creek pulverized coal-fired plant in Texas.
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Private equity firm Power Capital Holdings has partnered with Hunt Consolidated subsidiary Hunt Power Capital Partners to launch its maiden power and energy play, Power Capital Partners.
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First Wind is talking to lenders about securing approximately $300 million in debt backing its 147 MW Oakfield wind project in Aroostook County, Maine.
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Rooftop and distributed solar generation company SolarCity has issued $230 million in convertible bonds, and priced over $158 million in common shares.
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Enel Wind Brazil is slated to secure up to $420 million from the International Finance Corporation backing 342 MW of wind farms in Brazil.
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Bank of Tokyo Mitsubishi and Sumitomo Mitsui Banking Corp. are joint lead bookrunners on Sempra U.S. Gas & Power’s approximately $400 million Copper Mountain III debt package.
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George Revock, formerly a director at Citigroup, has joined Capital One as a managing director as the bank looks to start an alternative energy and project finance business.
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The U.S. government shutdown is jeopardizing billions of dollars of wind projects that are aiming to qualify for the production tax credit before it expires Dec. 31.
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Liberty Ventures Group, a subsidiary of media conglomerate Liberty Interactive Corp., has wrapped a $300 million tax equity investment in Abengoa’s 290 MW Solana concentrating solar facility in Gila Bend, Ariz.
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Power industry players are increasingly looking south of the border for projects and deals, as a booming middle class drives up demand under a compelling regulatory regime.
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The International Finance Corp. has closed a $1.2 billion infrastructure investment fund, up from a proposed total of $1 billion.
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David Nason, senior v.p. and global regulatory management and compliance officer at GE Capital, will take over GE Energy Financial Services as president and ceo.
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SolarReserve has appointed Tim Rosenzweig, ceo at Goldwind USA, as cfo.
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SunPower has hired Natalie Jackson, v.p. of structured and project finance at BrightSource Energy, as managing director of project finance.
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Price talk on the $990 million bank loan backing Radback Energy’s Oakley facility is coming in at under LIBOR plus 200 basis points, note observers.
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GE Energy Financial Services has sold its stake in the 800 MW CPV Sentinel gas-fired plant in California to Voltage Finance LLC, which is owned by a group of private investors.
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Duke Energy Renewables is set to begin talking to lenders about securing around $600 million for the next two phases of Los Vientos III and IV wind projects in Starr County, Texas.
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PFR Managing Editor Sara Rosner sat down with Ted Brandt, Gregg Elesh, Terry Grant, and Wendy Carlson to get the Marathon Capital team’s perspective on buying and selling assets in today’s market.
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Invenergy has closed a debt and tax equity package backing its 200.6 MW Prairie Breeze wind facility in Antelope, Boone and Madison Counties, Neb.
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U.S. Geothermal has closed a $30.74 million refinancing of the approximately 9 MW Phase I of the San Emidio geothermal project in Washoe County, Nev.
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Renewable developer First Wind has closed a construction and term loan and a tax equity tranche backing a 17 MW of solar facilities in Massachusetts.
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CIT Group has closed a $36 million senior secured credit facility for Spanish developer Gestamp Wind’s 23.4 MW Punta Lima wind facility near Naguabo, Puerto Rico.
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First Solar has bought the 350 MW Moapa solar project in Clark County, Nev., from developer K Road Power.
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PFR Managing Editor Sara Rosner sat down with Marathon Capital’s Ted Brandt, Gregg Elesh, Terry Grant and Wendy Carlson to discuss the shop’s take on wind, solar and thermal trades in the second installment of this Q&A.
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French energy giant Total and Swiss independent power producer Etrion Corp. have sealed a roughly $140 million non-recourse debt package backing the merchant 70 MW Salvador solar photovoltaic facility in the Atacama region in Chile.
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Duke Energy Florida will issue a request for proposals for roughly 1,640 MW of capacity on October 8.
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Chilean independent power producer Andes Mining & Energy and Chilean developer Austalis Power are set to mandate next week BNP Paribas and Crédit Agricole to lead the financing of their $150 million Octopus liquefied natural gas re-gasification facility in Concepción bay, Chile.
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Borealis subsidiary Midland Cogeneration Venture will issue an additional $178 million in senior secured notes to refinance debt.
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Exelon Corp. subsidiary PECO Energy Co. is taking advantage of the low interest rate environment and a delay in the U.S. Federal Reserve’s plan to taper its bond buying program to issue $500 million in first mortgage bonds.
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Competitive Power Ventures, ArcLight Capital Partners and Toyota Tsusho have closed a $585 million debt package backing the 700 MW Woodbridge facility in Woodbridge, N.J.
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Energy Capital Group is planning the $600 million, 300 MW ECG Utah Solar 1 project in Utah.
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Utilities in the west are considering measures that would charge customers with rooftop solar panels more for the power they buy when the panels are not generating.
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Noble Environmental Power is in the process of selling the remaining tax equity capacity in its Noble Great Plains wind farms in Texas to a subsidiary of Union Bank.
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Connecticut Light & Power and United Illuminating have signed 15-year power purchase agreements with a 20 MW Fusion solar project in Sprague, Conn., that is being developed by HelioSage Energy and the 250 MW Number Nine wind project in Aroostook County, Maine, being developed by the U.S. subsidiary of EDP Renováveis.
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ERCOT is evaluating wind projects totaling 11 GW planned for the Texas Panhandle even though the nearly complete $1.6 billion transmission upgrade won’t be able to handle the queue.
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Tenaska Solar Ventures has started talking to banks about securing roughly $500 million in debt for its 150 MW Tenaska Imperial Solar Energy Center West in Imperial County, Calif.
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Wind developers with initial contracts under the U.S. Army’s call for renewables are talking to lenders and tax equity investors.
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Canadian independent power producer Northland Power has tapped the bond market to refinance bank debt on its 260 MW North Battleford gas-fired facility near Saskatoon, Saskatchewan.
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Pattern Energy and Samsung Renewable Energy have closed a C$400 million ($388.3 million) non-recourse debt financing backing the 150 MW Grand wind facility in Haldimand County, Ontario.
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MidAmerican Energy Co. has issued $950 million in first-mortgage bonds to take advantage of investor demand for utility paper.
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SunEdison has closed a $260.5 million debt package backing the 100 MW Amanecer solar project near Copiapo in the Atacama Desert in Chile.
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Queries regarding wind projects’ qualification for the production tax credit and the PTC’s potential extension are stymieing investments in the sector, according to panelists at the American Wind Energy Association’s wind energy finance and investment seminar at the Conrad Hotel in New York on Sept. 9-10.
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The universe of tax equity investors in renewable projects is set to grow, with Coca Cola reportedly eyeing investments, according to panelists at the American Wind Energy Association’s wind energy finance and investment seminar at the Conrad Hotel in New York on Sept. 9-10.
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Developers are increasingly looking to build wind facilities with merchant exposure and hedge arrangements, noted panelists at the American Wind Energy Association’s wind energy finance and investment seminar at the Conrad Hotel in New York on Sept. 9-10.
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The New York State Green Bank will begin lending to renewables projects in the state in January next year.
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Radback Energy is looking to line up a club of banks to secure $990 million in debt, as well as an equity investor, for its 586 MW Oakley gas-fired facility in Contra Costa Country, Calif.
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American International Group is looking to offer insurance on project finance transactions.
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Sempra U.S. Gas & Power is talking to lenders about securing up to $400 million in debt backing the 250 MW third phase of the Copper Mountain solar facility.
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Three private equity firms have committed $67.3 million in debt and equity to back the construction of 150 MW of SunEdison’s utility scale solar facilities in California.
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Invenergy has closed a C$410 million ($390.74 million) refinancing of the 584 MW natural gas-fired St. Clair facility near Sarnia, Ontario.
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Montreal-based Boralex has closed a $90 million refinancing secured by two of its U.S. generating facilities.
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Matthew Wade, director at the Royal Bank of Scotland’s U.S. power and infrastructure team, has joined the Royal Bank of Canada.
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Abengoa Solar has secured tax equity investments from a trio of banks backing its 250 MW Mojave concentrating solar project in San Bernardino County, Calif.
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Australian investment manager AMP Capital has completed a $300 million first close on its AMP Capital Infrastructure Debt Fund II from 17 institutional investors.
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Investment manager True Green Capital Management has tapped Investec to lead a $64 million credit facility backing a 39 MW portfolio of solar photovoltaic facilities in the Northeast.
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Cash flows from U.S. merchant power generators are coming under pressure due to lower power and gas prices and expiring hedges, according to a report by Standard & Poor’s.
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Southern Co. increased a five-year bond issuance to $500 million from $400 million upon finding a market flush with cash and little deal flow.
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American Wind Capital is nearing the close of its $100 million loan backed by renewable land leases.
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Invenergy officials are talking with lenders about securing a debt package for the merchant 584 MW Nelson gas-fired facility in Rock Falls, Ill.
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Panda Power Funds and Moxie Liberty have closed the $585 million debt package backing the 829 MW gas-fired Moxie Liberty project in Bradford County, Pa.
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The Lake Charles liquefied natural gas export project, with a price tag of potentially $11 billion, is being eyed by banks and lenders after receiving approval from the U.S. Department of Energy.
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Chilean transmission company Transelec, a subsidiary of Brookfield Asset Management, has closed a $150 million debt financing for a 220kV transmission line linking the Caserones mine in Chile to generation facilities.
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First Wind has shelved its $325 million B loan to refinance assets in the Northeast, as it was unable to lock in pricing in the range of LIBOR plus 425-450 basis points.
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SolarReserve has appointed Morgan Stanley as advisor in its search for debt, tax equity and equity investment backing the 150 MW Rice solar thermal project in Blythe, Calif.
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Tenaska Capital Management has hired Michael Flinn as a senior v.p. in Houston as part of the private equity shop’s strategy to expand its midstream investment business.
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Panda Power Funds and Moxie Energy have adjusted the debt package backing their 825 MW Liberty project, nixing the $119 million mezzanine tranche and increasing the first-draw term loan B to $435 million from $358 million.
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This week’s Industry Current is the transcript of a panel of industry officials focused on the market for portfolio sales of generating assets and consolidation in the power industry.
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Instituto Costarricense de Electricidad is talking to lenders to secure financing for the $1.4 billion Reventazón hydro facility in Limon province, Costa Rica.
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Pattern Energy aims to close the $500 million bridge financing for its 322 MW first phase of the Panhandle wind project in Texas by the end of this week.
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Competitive Power Ventures is near closing its $585 million debt package backing the 725 MW Woodbridge gas-fired plant in Woodbridge, N.J.
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Seminole Financial Services and Round Rock Partners have formed a joint venture known as Seminole Equity Partners to secure tax equity from investors for renewable energy projects in the U.S.
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Mandy Querio, a former associate director in the syndications team at WestLB, has joined OneWest Bank as its first v.p. of syndications.
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Montreal-based renewable company Boralex has closed a C$55.3 million ($53.65 million) financing backing its 22 MW Jamie Creek hydro facility near Gold Bridge, B.C.
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Duke Energy expects a ruling in its petition to the Ohio Public Utilities Commission regarding how its roughly 7.5 GW Commercial Power fleet recovers maintenance costs in the fourth quarter.
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Calling all sun lovers in Seattle! The abundance of sunshine is not a draw to the Pacific Northwest—Seattle gets precipitation about 152 days a year, not including cloudy but dry days while San Diego gets wet on 43.
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In this week's round-up: PJM capacity auction results have some whistling a muted tune while LNG and wind boom in Latin America.
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Innergex Renewable Energy has closed a C$61.7 million ($59.3 million) non-recourse construction and term project financing for the 24.6 MW Viger-Denonville wind project in Quebec, Canada.
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In the second installment of this Q&A, Jonathan Lindenberg, head of project finance in the Americas at Bank of Tokyo Mitsubishi-UFJ discusses liquefied natural gas project landscape, prospects for renewables and potential challenges in project finance. Senior Reporter Nicholas Stone sat down with Lindenberg at the bank’s office in New York.
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GDF Suez has brought in Marubeni as a joint venture partner to develop the $1.125 billion GNL del Plata re-gasification facility in Montevideo, Uruguay and is looking to the finance the facility.
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Erik V. Savi, formerly a managing director at WestLB, has joined BlackRock as a managing director and head of U.S. infrastructure debt.
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Panda Power Funds is nearing a first close on its up to $1 billion second power investment fund, with the company’s pipeline of shovel-ready projects reportedly drawing interest.
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A joint venture between subsidiaries of Chinese turbine manufacturer Xinjiang Goldwind Science & Technology Co. and of Spanish developer Union Eolica Espanola have closed a $71 million financing backing the 55 MW Penonome wind facility in Panama.
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Proparco, the private investment unit of the French Development Agency, has joined the Inter-American Development Bank and the IDB-managed Canadian Climate Fund in providing a $66.4 million debt package to Spanish developer Solarpack’s 26.5 MW of photovoltaic projects in the Atacama Desert in Chile.
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In the post-crisis world, Bank of Tokyo Mitsubishi-UFJ has emerged as arguably the top shop for power financing.
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Radback Energy has reignited a search for around $800 million in financing backing its 586 MW Oakley gas-fired facility in Contra Costa County, Calif.
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Pricing talk on the Panda Power Funds and Moxie Energy B loan backing their 825 MW natural gas-fired Liberty facility has come in at LIBOR plus 650 basis points.
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E.ON Climate & Renewables has secured a $76.6 million tax equity investment from JPMorgan Capital Corp. backing the 100 MW Anacacho wind farm near Brackettville, Texas.
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Marathon Capital is leading a $120 million bond refinancing of Gradient Resources’ 60 MW Patua geothermal facility near Fernley, Nev.
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Summit Power Group is aiming to close a $1.5 billion debt facility backing its 400 MW Texas Clean Energy Project near Odessa, Texas, in October.
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Greg Hazelton, a managing director in the power and utilities group at UBS, is set to be the v.p. of finance, treasurer and controller at Hawaiian Electric Industries.
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Credit Suisse and Goldman Sachs will launch a $600 million B loan package today backing Moxie Energy’s 825 MW natural-gas Liberty facility in Bradford County, Pa.
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Telemark Development Group, a company out of Nevada, is planning a $250 million, 171 MW gas-fired project in San Benito, Texas.
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Xcel Energy will move its headquarters out of Minneapolis, Minn., if city voters elect to take over the city’s distribution service in November.
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Summit Power Group is aiming to break ground this fall on its roughly $2.5 billion, 400 MW coal gasification project in Penwell, Texas.
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Covanta Energy is planning a $30 million expansion to a waste-to-energy plant in Niagara Falls, N.Y., that would allow it to receive 300,000 tons of waste from New York City by train.
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Resort beaches are for more than just lounging.
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In this week's round-up: Morgan Stanley alum hit the fundraising trail as sponsors see tight spreads on lender competition.
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Brazilian conglomerate Odebrecht has closed a $774 million senior secured financing package backing its 406 MW Chaglla hydro facility in Peru.
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NextEra Energy Resources has closed a $253.6 million term loan supporting its 162 MW North Sky River wind farm in Kern County, Calif.
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Enel Green Power inked two power purchase agreements for a pair of wind projects in Mexico with automotive supplier Delphi Automotive and Mexican bank Banamex.
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Samsung Renewable Energy, Pattern Energy and Capital Power have received a renewable energy approval for the 270 MW K2 wind project near Lake Huron from Ontario officials.
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Arkansas Electric Cooperative Corp. has signed a power purchase agreement for the 150 MW Origin wind project in Murray and Carter Counties, Okla., that is being developed by RES Americas.
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Apex Clean Energy has a pair of preliminary power purchase agreements with PacifiCorp for two 80 MW wind projects in Utah totaling $230 million.
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Selray Energias, a joint venture between German solar developer Saferay Holding and Chilean engineering and electrical company Seltec, is set for a $47 million loans backing the first utility scale photovoltaic facility to sell its output to the spot market of Chile’s northern grid.
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Ohio Power Co., a subsidiary of American Electric Power, will redeem the entire outstanding $225 million principal amount of its 6.375% senior notes due in 2033 on Aug. 12.
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I Squared Capital, a company established by ex-Morgan Stanley executives, is aiming to raise $2 billion for its maiden infrastructure fund.
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Chilean transmission company Transelec is looking to sell $300 million in 144A bonds, the first time the company has hit the U.S. bond markets since 2001.
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Canadian solar developer Potentia Solar is looking to secure up to C$200 million ($192.5 million) in debt to back solar distributed generation projects in Ontario.
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Fiera Axium Infrastructure Canada II has wrapped a $175 million debt financing backing the construction of four solar photovoltaic projects totaling 42 MW.
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NRG Energy has raised $430.65 million in its initial public offering of NRG Yield Inc., a yield company that holds 1,324 MW of renewable and gas-fired facilities.
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Duke Energy subsidiary Duke Energy Indiana has locked in $500 million in floating- and fixed-rate notes as interest rates continue to rise and the company faces $400 million of maturing debentures.
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The order book for Southern Power’s 30-year, $300 million issuance of bonds was more than seven times over-subscribed this week.
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A joint venture between Sempra Energy and Mexican oil and gas monopoly Pemex has tapped Bank of Tokyo Mitsubishi to lead a $500 million deal to lever up its Gasoductos de Chihuahua pipelines in the north of Mexico.
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The San Diego County Water Authority and the City of San Diego have issued a request for proposals for firms to evaluate the economic and financial requirements for a potential $1 billion, 500 MW hydro facility at the San Vicente Reservoir, Calif.
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Liberty Interactive Corp., the owner of QVC and TripAdvisor, is taking a stake in Abengoa Solar’s 250 MW Solana solar project near Gila Bend, Ariz.
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Harbert Management Corp. is buying Energy Investors Funds’ 33.3% stake in the 550 MW Astoria Energy II combined cycle plant in New York.
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The third phase of a natural gas pipeline, between Texas and Mexico, has a raft of developers and financiers circling the request for proposals issued by Pemex.
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A syndicate of tax equity lenders will provide $260 million to Enel Green Power and GE Energy Financial Services’ 250 MW Buffalo Dunes wind project in Grant, Finney and Haskell Counties, Kan.
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PensionDanmark’s $200 million mezzanine loan to the 454 MW Cape Wind project has reportedly priced at around the 14% mark—a tight level for mezz, according to observers.
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K Road Power is reportedly lining up mezzanine debt from Ares Management for its 350 MW Moapa solar facility in Clark County, Nev.
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Michael Whalen, cfo at solar developer SolarReserve, has taken a position as v.p. of structured finance at the Overseas Private Investment Corp. in Washington.
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Invenergy Wind has wrapped financings backing two merchant wind facilities.
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MidAmerican Energy Holdings’ subsidiary Solar Star Funding upsized its 144A bond offering backing the 579 MW Antelope Valley solar facility to $1 billion from $700 million on strong investor appetite last week.
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Innergex Renewable Energy has closed a C$52.8 million ($50.4 million) non-recourse refinancing for its 109.5 MW Carelton wind facility in Carleton-sur-Mer, Québec.
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Private equity-backed Union Energy Group has acquired Peruvian project development company Generación Andina from EnBW Energie Baden-Württemberg.
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MidAmerican Energy Holdings’ subsidiary Solar Star Funding has upsized its 144A bond offering backing the 579 MW Antelope Valley solar facility to $1 billion from $700 million on strong investor appetite.
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Comisión Federal de Electricidad nixed plans for a 10-year fixed-rate note issuance and opted for MXP12 billion ($923 million) of five-year floating rate notes after credit markets were rocked by rising U.S. Treasury rates last week.
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Renewable project financing options beyond the expiration of the production and investment tax credits was the focus at Euromoney Energy Events Renewable Energy Finance Forum Wall Street at the Waldorf Astoria in New York this week.
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American Electric Power has petitioned the Public Utilities Commission of Ohio to stop FirstEnergy from soliciting customers in its territory, escalating an argument over how to deal with a power company offering competitive power in another’s footprint.
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SolarCity is planning to introduce a solar and battery duo in 2015 that will allow power to be stored for use at night.
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San Bernardino County, Calif., is pushing to streamline the permitting process for solar projects in preparation for a moratorium on new projects to be lifted in about a month.
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Several states, including California and Massachusetts, rely on natural gas imported from Canada to supply generating facilities, according to the Institute for Energy Research.
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Sponsors and bankers are working to develop renewable project bond structures to appeal to foreign and domestic institutional investors.
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Gauss Energia, a Mexico City-based energy company, is looking to bring three new solar projects to market in the coming months, CEO and President Hector Olea told PFR on the sidelines of Euromoney’s Mexican Energy and Infrastructure Finance Forum at the JW Marriott in Mexico City on June 26.
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Peso financings are on the increase in Mexico, but there is still a chunk of the market U.S. dollar-denominated deals rule, said panelists at Euromoney’s Mexican Energy and Infrastructure Finance Forum in Mexico City yesterday.
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Capital will be needed to develop natural gas pipelines in Mexico, a move arising out of the country looking to import shale gas from the U.S., said panelists at Euromoney’s Mexican Energy and Infrastructure Finance Forum at the JW Marriott in Mexico City on June 25.
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Mexico is expected to detail energy infrastructure plans and if it does industry watchers are predicting a strong flow of power and energy projects, according to panelists at Euromoney’s Mexican Energy and Infrastructure Finance Forum at the JW Marriott in Mexico City on June 25.
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Arizona Public Service Company has put its $294 million purchase of two units of the Four Corners coal-fired plant on hold because of the Arizona Corporation Commission’s consideration of deregulation.
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NRG Energy is planning coal-fired to gas conversions of two plants in PJM—the 330 MW New Castle near Pittsburgh, Pa., and the 776 MW Avon Lake in Ohio—that were acquired through its merger with GenOn Energy.
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First Wind is planning a $400 million, 191 MW wind project in Somerset and Piscataquis Counties, Maine.
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Sunlight Partners is planning a trio of projects in North Carolina including two 20 MW projects in Guildford County and a 4 MW project in Forsyth County, which is expected to sell power to Duke Energy.
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LS Power and Riverstone Holdings encountered investor resistance to their respective B loan packages as the market softened on broader economic jitters.
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Price talk on MidAmerican Energy Holdings’ subsidiary Solar Star Funding’s $700 million of 144A senior secured notes has come in to 5.375% from 5.5%.
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EDP Renewables North America is talking to investors to secure equity and tax equity partners for its $350-400 million, 200 MW Headwaters wind project in Randolph County, Ind.
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Duke Energy subsidiary Duke Energy International Geração Paranapanema is on a road show this week in Brazil touting a proposed R$500 million ($233 million) domestic bond issuance to repay short-term debt
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Pacific Gas & Electric Co. tapped the senior unsecured note mart for $750 million last week to take out maturing debt nine months early and secure low rates.
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Innergex Renewable Energy is extending its C$425 million ($416.37 million) revolving term credit facility with a new five-year tenor ending in 2018 as it looks to finance and develop more than a dozen wind, solar and hydro projects in its pipeline.
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American Electric Power subsidiary AEP-PSO has issued a request for proposals for up to 200 MW of wind generation in Oklahoma.
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The Pennsylvania Department of Environmental Protection has cancelled a public hearing about LS Power’s proposed Berks Hollow natural gas-fired plant in Ontelaunee, Pa., due to lack of interest.
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The Austin, Texas, city council is expected to approve two Austin Energy 25-year power purchase agreements this week for wind projects proposed by Duke Energy and E.ON Climate & Renewables.
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NRG Energy has encountered pushback from local business and environmental groups on its $506 million plan to convert the Dunkirk coal-fired plant in Chautauqua County, N.Y., to natural gas.
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The Public Service Co. of Oklahoma has launched a request for proposals for 200 MW of wind power from projects that are in late stage development to qualify for the production tax credit.
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Natixis is looking to become more active in project finance lending in the Americas and has added two senior bankers in the drive.
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Baltimore Gas And Electric Company is issuing $300 million in bonds to tap low rates and take out existing debt.
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Terra-Gen Power has closed a $550 million financing backing phases X and XI of its Alta wind projects in Tehachapi, Calif.
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Monique Palumbo, head of loan syndications and private placements at Union Bank, has left to join Natixis as global head of loan syndications at the French bank.
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Solar power generation on California's electricity grid reached an all-time high last week, totaling 2,071 MW, state officials said Sunday.
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MidAmerican Energy Holdings subsidiary Solar Star Funding will issue $700 million of 144A senior secured notes to finance construction of its 579 MW Antelope Valley solar photovoltaic project in Kern and Los Angeles Counties, Calif.
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Lower than expected PJM capacity pricing has tempered the outlook on the region’s merchant prospects as a record amount of power was imported from other regions.
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The Los Angeles Department of Water and Power has issued a request for proposals for 200 MW of utility scale solar to be built at a formerly NextEra-owned site in Kern County in the Mojave Desert, Calif.
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Cheniere Energy has increased the senior secured loan backing its Sabine Pass liquefied natural-gas export facility to $4.4 billion from $2.3 billion and netted $1.5 billion of additional debt from the Export-Import Bank of Korea and the Korea Trade Insurance Corp.
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Innergex Renewable Energy has closed a C$72 million ($69.63 million) construction and term loan backing the 17.5 MW Northwest Stave River run-of-river hydro facility in Mission, British Columbia.
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Competitive Power Ventures is putting together financing for its 725 MW natural-gas fired Shore facility near Woodbridge, N.J.
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Xcel Energy subsidiary Northern States Power Co. has issued $400 million, 10-year 2.6% first mortgage bonds, continuing the move by utilities looking to tap low rates.
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Sempra U.S. Gas & Power has wrapped a $350 million financing for the second phase of its Copper Mountain Solar facility in Boulder City, Nev.
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Early pricing talk on the B loan backing Moxie Energy’s 825 MW natural gas-fired Liberty facility in Bradford County, Pa., is coming in at around LIBOR plus 600 basis points.
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Deutsche Bank and Key Bank have closed a $110 million debt financing for 37 MW of solar photovoltaic installations in Massachusetts being developed by Rockland Capital and Broadway Electrical Co., including 24 MW in Cape Code and Martha’s Vineyard.
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Sempra LNG has sold three 16.6% equity stakes in its Cameron liquefied natural-gas export facility to GDF SUEZ, Mitsui and a joint-venture between Mitsubishi and Nippon Yusen.
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Samsung Renewable Energy is talking to banks to secure financing for its 100 MW Grand Renewable Solar photovoltaic facility in Haldimand County, Ontario.
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Chubu Electric Power Co. and Toyota Tsusho Corp. are looking to refinance the loan on their 880 MW combined-cycle Goreway facility in Brampton, Ontario.
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This week’s Industry Current is written by Darin Lowder and Mary Grace Folwell, associates at Ballard Spahr in Washington, D.C.
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In this week's round-up: Capacity pricing results may stoke M&A in PJM while project financiers are grappling with how to open the market to real estate investment trusts.
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The government of Québec has issued a request for proposals for 800 MW of wind generation.
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The Medellin, Colombia-based Interconexión Eléctrica S.A. is looking to mandate a financial advisor for a potentially $1 billion transmission line project in Chile.
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Kirk Edelman, ceo of the project and structured finance energy business at Siemens Financial Services, leads its power and energy investing activities worldwide.
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Michael Canavan, formerly a director of high-yield markets at RBS Securities, has joined SunTrust Robinson Humphrey as a director in New York.
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Jon Schintler, director of finance at Chicago-based Invenergy, has joined Alterra Power Corp. as director of project finance and mergers & acquisitions.
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GSR Energy is looking for $205 million in debt and equity backing a 36 MW biomass project on the New River in Orange Walk District, Belize.
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The Japan Bank for International Cooperation and the Nippon Export and Investment Insurance agencies are working to provide around $2 billion in debt backing Cameron LNG’ export facility in Hackberry, La.
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French and Japanese banks are increasing their activity in Latin America, as the renewable energy sector in the region becomes a more stable and attractive proposition, said panelists at Euromoney Seminars’ Renewable Energy Finance Forum Latin America and Caribbean in Miami.
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French and Japanese banks are increasing their activity in Latin America, as the renewable energy sector in the region becomes a more stable and attractive proposition, said panelists at Euromoney Seminars’ Renewable Energy Finance Forum Latin America and Caribbean in Miami.
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Hybrid bank/bond structures are being floated for renewable energy projects in Latin America, said panelists at Euromoney Seminars’ Renewable Energy Finance Forum Latin America and Caribbean in Miami.
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José María Figueres, former President of Costa Rica and ceo of sustainable development consultant Carbon War Room, told PI in an interview that he is “very bullish” on renewable energy in Latin America.
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MidAmerican Energy Holdings has reportedly tapped Barclays, Citigroup and Royal Bank of Scotland to lead a bond financing backing its $2.5 billion, 579 MW Antelope Valley solar photovoltaic project.
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Panda Power Funds has taken equity stakes in two merchant gas-fired projects being developed by Moxie Energy in PJM and will launch a B loan via Goldman Sachs and Credit Suisse to finance the 825 MW gas-fired Liberty facility in Bradford County, Pa.
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Calpine Corp. is pursuing a potential $1.055 billion debt refinancing in the term loan B market via subsidiary Calpine Construction Finance Company.
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A thirst for yield is pushing more institutional investors into private equity funds backing power and energy projects in the U.S.
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Solar developer SolarReserve has opened an office in Santiago, Chile, as it looks to expand into Latin America.
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K Road Power has tapped Banco Santander and Prudential Capital Corp. to raise $550 million in debt for its 350 MW Moapa solar photovoltaic project in Clark County, Nev.
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Essential Power has tightened the pricing of a $550.7 million senior secured term loan B to LIBOR plus 325 basis points from LIBOR plus 350 bps.
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The geothermal energy players are aiming to get more private equity funding and bank lending to back early stage development, according to panelists at the Geothermal Energy Association’s International Geothermal Energy Finance Forum at the Marriot Marquis in New Marquis in New York last week.
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Cheniere Energy has issued $1.5 billion in bonds to fund construction and lower bank commitments associated with the $3.6 billion term loan backing the first two trains at the Sabine Pass LNG export facility in Cameron Parish, La.
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The U.S. Internal Revenue Service has released the criteria clarifying what beginning of construction means for a facility looking to qualify for the production tax credit under its latest extension.
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The North American Development Bank will loan SunEdison $35 million for the construction of a 16 MW solar photovoltaic facility at Davis-Monthan Air Force Base, southeast of Tucson, Ariz.
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Ian Connor has been made head of power and utilities at JPMorgan in New York.
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Boston-based First Wind will likely finalize an agreement to sell a wind project to an undisclosed investor before month-end, according to a deal watcher on the sidelines of Platts Global Power Markets Conference in Las Vegas.
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Bankers and developers are increasingly turning to emerging markets to grow their businesses.
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Marathon Capital has tapped Bryan Fennell, former v.p. of NextEra Energy Resources, and David Kirkpatrick, former v.p. of new business development at NRG Energy, as directors.
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Final pitches to lead the financing of an approximately $400 million liquefied natural-gas regasification facility near Montevideo, Uruguay, are due in the next couple of weeks, following the selection of a project developer on April 1.
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Panda Power Funds is looking to raise a new investment fund with a target of $800 million and a hard cap of $1 billion.
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Ivenergy is talking to lenders for financing backing its 95 MW Stony Creek wind project in Orangeville, N.Y.
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Longview Power, the owner of a merchant 695 MW supercritical pulverized coal-fired facility in Maidsville, W. Va., is reportedly facing a potential debt covenant breach.
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Cameron LNG, an affiliate of Sempra LNG, is trying to lock down 16-year debt backing its liquefied natural gas export facility at the Calcasieu Channel in Hackberry, La.
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Industry Funds Management subsidiary Essential Power is looking to refinance debt on a 1,721 MW portfolio with a $550.7 million senior secured term loan B.
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AES Gener has closed the financing of its 532 MW Cochrane coal-fired facility in Mejillones, Chile.
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Moxie Energy has entered into a membership interest purchase agreement with an undisclosed third party investor for its $800 million, 825 MW gas-fired Moxie Liberty facility in Bradford County, Pa.
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The Inter-American Development Bank has closed a $41.4 million deal backing three solar photovoltaic facilities with a combined 26.5 MW output in the Atacama Desert, Chile.
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The U.S. Internal Revenue Service has paved the way for Native American tribal governments to use renewal energy investment tax credits, which they’d been barred from deploying in the past.
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E.ON Climate & Renewables has closed the $174.9 million tax equity financing of the 200 MW Wildcat I Wind Farm in Madison and Tipton Counties, Ind., with a group including JPMorgan Capital Corp. and Wells Fargo Wind Holdings contributing.
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Financial services shop Hannon Armstrong is close to completing a road show and securing investors for the first real estate investment trust backing sustainable and renewable energy assets.
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Bonds backing power projects in Latin America are becoming more attractive as borrowers move to find cheaper sources of capital.
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The Washington State Utilities and Transportation Commission has postponed a hearing and moratorium on utilities’ natural gas hedging practices saying that they plan to work with utilities to look at hedging and whether it’s beneficial for customers.
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The U.S. Federal Energy Regulatory Commission has filed a lawsuit against the Idaho Public Utilities Commission over the way it handled power purchase agreements between Idaho Power and three wind farms, including Murphy Flat, Grouse Creek and Grouse Creek II.
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Dominion Virginia Power has received approval from Virginia regulators to buy solar power from residential and commercial solar installations at $0.15 per kWh.
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E.ON Climate & Renewables plans to start construction on the 100 MW second phase of its Wildcat wind project in Howard County, Ind., this year.
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TransAlta Corp. has declared force majeure at a 395 MW generator at its Keephills 1 coal-fired plant in Alberta because of a failure with its generator.
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BrightSource Energy is talking to lenders and potential equity investors for financing backing its 500 MW Palen solar thermal tower project in Riverside County, Calif.
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The Washington Utilities and Transportation Commission will continue its investigation into utility hedges on natural gas at the request of the state attorney general’s office.
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The limit on utility returns on equity could continue to fall as state regulators question why the companies need current returns if debt is cheaper.
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Bicent Power is looking for an $83 million, seven-year term loan B to refinance the debt on two generation facilities in Brush, Colo.
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Sempra U.S. Gas & Power has reportedly tapped Union Bank and Société Générale to lead the financing backing its $600 million, Copper Mountain II solar photovoltaic project in Boulder City, Nev.
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Pricing on Pattern Energy’s $500 million bridge loan backing its 322 MW project in the Texas Panhandle is slated to start at LIBOR plus 200 basis points and bumps up to LIBOR plus 225 bps after an undisclosed length of time.
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Standard & Poor’s saw doubled the number of project bond ratings in 2012 versus 2011—underscoring the dramatic surge in non-bank funding.
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Innergex Renewable Energy is looking to for roughly $590 million in debt financing for two groups of hydro projects in British Columbia and aims to secure a tenor of construction plus 40 years.
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Less than half of a dozen deals worth $1.9 billion closed in the U.S. and Canada during the fourth quarter last year--the lowest deal flow since the first quarter of 2011, when roughly $745 million made it through the market across the same number of projects.
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This week’s Industry Current is written by Kerin Cantwell and Miles Killingsworth, partner and associate, respectively, at Akin Gump Strauss Hauer & Feld’s global project finance practice in Los Angeles and George “Chip” Cannon, Jr., partner at the firm’s energy regulatory practice in Washington D.C.
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OCI Solar will head back into the market to look for financing backing the next two stages of its Alamos project outside of San Antonio.
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FGE Power, a Houston-based independent power producer, is looking for debt financing and equity partners for a 726 MW, approximately $500 million combined cycle project near Westbrook, Texas.
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A financing backing Panda Power Funds’ 750 MW Temple II gas-fired project will be launched at 10 a.m. tomorrow at a bank meeting in New York.
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Pattern Energy and Samsung Renewable Energy have closed a C$700 ($680.93) million financing of their 270 MW South Kent facility in Chatham-Kent, Ontario.
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Michael Canavan, director of high-yield capital markets at RBS Securities, has resigned from the Stamford, Conn.-based shop to work in structured power project finance at another undisclosed lender.
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Terra-Gen Power is beginning preliminary talks with lenders for phases X, XI and possibly phase XII of the Alta wind projects in Tehachapi, Calif.
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Local banks are increasingly active in project finance in Latin America.
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Mining development in northern Chile and southern Peru is creating a need for dedicated infrastructure, including generation capacity.
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Energy and infrastructure finance advisory shop Astris Finance is looking for players to participate in a new solar offtake arrangement in northern Mexico.
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OCI Solar has tapped the Korea Finance Corp. and Korea Development Bank for financing backing the first 41 MW phase of its 400 MW Alamos solar project near San Antonio.
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Panda Power Funds has reportedly approached Standard & Poor’s to get a rating for the term loan B backing the second 750 MW phase of its merchant Temple gas-fired facility in Temple, Texas.
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President Obama’s sequestration order will trigger an automatic cut of 8.7% to all U.S. Department of Treasury payments made under the 1603 cash grant program.
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K Road Power is looking to tap mezzanine debt in the financing of its $1 billion, 350 MW Moapa solar photovoltaic project in Clark County, Nev.
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EDF Renewable Energy is hunting debt for its 350 MW Rivière-du-Moulin wind farm in eastern Québec.
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A private letter ruling from the U.S. Internal Revenue Service is being seen as a green light to include sustainable and renewable energy assets in a novel mortgage real estate investment trust.
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Brookfield Renewable Energy Partners has completed a C$450 million ($437 million) bond issuance refinancing its 166 MW Comber wind project— the first rated bond issuance backing a wind deal in Canada on the public market.
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Pattern Energy has mandated a trio of banks to lead a $500 million bridge loan for its 322 MW Panhandle project in Carson County, Texas.
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MidAmerican Solar is putting out feelers for financing backing the 579 MW Antelope Valley solar facilities in Kern and Los Angeles counties in California.
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Kinder Morgan Energy Partners plans to issue $1 billion of senior unsecured notes to help finance its $21.1 billion acquisition of El Paso Corp. and $3.9 billion purchase of Copano Energy.
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Genesis Power is looking for debt backing a 735 MW natural gas-fired combined-cycle facility in Brandywine, Md., and a subsidiary of Energy Investors Fund is a co-investor in the project.
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Some lenders are looking to shed exposure to the first round of financing for Cheniere Energy’s Sabine Pass natural gas liquefaction facility to make room for a second deal from the company.
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Xcel Energy has issued a request for proposals for up to 200 MW of wind resources via subsidiary Northern States Power Co.
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Strata Solar has begun preliminary talks with lenders as it looks to finance its 100 MW Warsaw solar facility in Duplin County, N.C.
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Strata Solar has begun preliminary talks with lenders as it looks to finance its 100 MW Warsaw solar facility in Duplin County, N.C.
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George Veit, ceo of Berlin-based distributed generation sponsor Geenex, has been in the U.S. meeting potential investors and development partners on both coasts as it looks to invest $500 million in utility-scale photovoltaic projects in the country over the next five years.
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The use of project bonds never reached the level expected in 2012, but there is still optimism this year, panelists said at Euromoney’s 8th Annual U.S. Power & Renewable Finance Conference at the Westin Hotel in New York on Wednesday.
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Large solar projects over 150 MW are going out of vogue, according to bankers and executives at Euromoney Seminar’s U.S. Power & Renewable Conference in New York.
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The thin supply of power purchase agreements has upped the stakes for a number of requests for proposals, with utilities receiving record numbers of bids.
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Raymond James Bank is entering the power and renewables lending business.
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This week’s Industry Current is written by Paul Kaufman, partner in corporate and project finance at Chadbourne & Parke in Los Angeles.
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First Solar has acquired the 50 MW Macho Springs Solar project in Luna County, N.M., from Element Power for an undisclosed sum.
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K Road Power has reportedly tapped Citibank as financial advisor for the financing of its 350 MW Moapa solar photovoltaic project in Clark County, Nev.
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Steve Schauer, former senior v.p. of finance and treasurer at First Wind, has joined Westerly Wind as president.
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JPMorgan Capital Corp. has made a $35.7 million tax equity investment in eight geothermal facilities owned by Ormat Nevada in California and Nevada.
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Latin America is bustling with opportunities for project development and M&A, according to Pedro Barriuso, ceo of Blackstone’s new power and energy development company Fisterra Energy.
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SolarReserve is talking to lenders for financing backing its $600 million, 150 MW Rice solar thermal project in Blythe, Calif.
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Cheniere Energy has upsized its 144a offering to $1.5 billion from $1 billion after an investor roadshow in New York, Boston and Chicago.
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Liberty Clean Power, a boutique power and energy investment shop founded by former American Wind Capital staffers, has teamed up with the investment arm of the Secaucus, N.J.-based privately-held Hartz Capital, to begin investing in renewable generation projects.
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Coyote Springs Investment, a real estate development company behind the $30 billion master-planned Coyote Springs community in Nevada, has issued a request for proposals to lease land to a renewable facility in Lincoln County, Nev.
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Jamie Manson, former head of project origination, execution and general marketing for power in North America at Investec in Toronto, joined Brookfield Financial Corp. as a managing partner in Toronto last week.
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Investors interested in buying power assets in Canada are increasingly looking at development assets due to stiff competition for operating facilities and a surplus of capital to put to work.
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A team from Houston-based Cheniere Energy is on the road this week meeting investors in New York, Boston and Chicago, to market $1 billion in 144a notes.
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Canadian lenders and developers are questioning whether the country’s project finance market is deep enough to fund the pipeline of power projects.
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InterGen has closed a $335 million financing backing a series of projects including a 205 MW combined cycle plant in Zacatecas, Mexico.
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The risk that generation will be forced to reduce output is throwing a wrench in project finance and M&A deals in Ontario.
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U.S. Renewables Group, a Los Angeles-based power and energy focused private equity fund, is looking to invest in Latin America given the lack of deal flow in the U.S.
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The cost of financing merchant generation could be set for a fall.
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Google has made a $200 million tax equity investment in EDF Renewable Energy’s 161 MW Spinning Spur wind project in Oldham County, Texas.
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EDF Renewable Energy has closed a financing backing a re-powering of its 102.5 MW Shiloh IV wind project in Solano County, Calif., through a sale-leaseback agreement with Union Bank.
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Cameron LNG, an affiliate of Sempra LNG, is lining up lenders to finance its liquefaction natural-gas export facility along the Calcasieu Channel in Hackberry, La.
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Cogentrix Energy will exit its stake in the 112 MW Northampton waste coal-fired plant that it owns along with Energy Investors Funds as part of the plant’s Chapter 11 bankruptcy restructuring plan.
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EDF Renewable Energy has completed the financing of its 143 MW Catalina solar project in the Mojave Desert in California via the sale of a majority stake in the project to GE Energy Financial Services, Metropolitan Life Insurance, Union Bank and Citigroup.
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The U.S. Congress included an extension to the production tax credit as part of the package passed by lawmakers looking to avoid the fiscal cliff.
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Cheniere Energy is talking with lenders to secure upwards of $3 billion for the second phase of its Sabine Pass natural gas liquefaction export project.
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The Tennessee Valley Authority has scored a coupon of 3.5% on its $1 billion of 30-year senior unsecured bonds, marking its lowest rate on 30-year money since a 2005 issuance when it scored a 4.65% coupon.
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Florida Power & Light has scored a 3.8% coupon, setting a record low for the regulated NextEra Energy utility, by beating the 4.05% in a $600 million, 30-year issuance (PI, 5/16).
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Panda Power Funds is talking to lenders for financing backing the approximately 750 MW second phase of its merchant natural gas-fired Temple facility in Temple, Texas.
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EmberClear Corp. has tapped Boston-based CCA Capital as advisor and placement agent for the construction and term financing of its 300 MW natural gas-fired facility in Good Spring, Pa.
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In addition to aggressively lobbying to extend the production tax credit, the American Wind Energy Association has apparently been busy designing a line of apparel and accessories that would suit even the most fashion forward wind developer for its online store.
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Increased liquefied natural-gas exports from the U.S. would have a positive economic benefit, according to a new report prepared by NERA Economic Consulting, paving the way for new deals.
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Geronimo Wind Energy is looking to secure financing for the 42 MW Black Oak and 40 MW Getty wind farms in Stearns County, Minn.
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K Road Power is talking to lenders about financing for its 350 MW Moapa solar photovoltaic project in Clark County, Nev.
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This week’s Industry Current is written by Steve Loeshelle and Mike Fitzpatrick, partners, and Adam O’Brian, an associate, at Hunton & Williams in New York.
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Partners AES Solar and 8minutenergy Renewables have closed the $636 million financing of their 266 MW Mount Signal solar project in Imperial County, Calif.
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Wind Capital Partners will fire up the financing backing its 150 MW wind project in Osage County, Okla., after putting it on hold earlier this year.
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The Public Service Company of New Mexico has issued a request for proposals looking for 375,000 MWhs of renewable generation.
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A hearing to approve the re-organization plan for Homer City Funding, the financing vehicle affiliated with the 1,884 MW coal-fired plant, is set for Thursday in the U.S. Bankruptcy Court District of Delaware.
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GE Energy Financial Services, MetLife and Union Bank have invested $247 million of tax equity in Wind Capital Group’s 201 MW Post Rock wind farm in Ellsworth and Lincoln Counties, Kansas.
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Athens, Greece-based renewables developer Terna Energy is looking to refinance a 138 MW portfolio of wind farms in Elmore County, Idaho via institutional investors.
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Pattern Energy is closing in on a club of banks to back its 270 MW South Kent and 150 MW Grand wind projects in Chatham-Kent, Ontario.
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National Grid will make a $40 million equity investment in Clean Line Energy Partners to help build out four transmission line projects that will transfer power from renewable projects across the country.
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The Carlyle Energy Mezzanine Opportunities Fund has raised $1.38 billion for energy credit investments since its inception just over one year ago, against an initial target of $750 million.
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Clarity on government incentives and international cooperation on financings would help alleviate some of the issues faced by financiers of renewable energy projects, according to the International Energy Agency.
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Empresa Electrica Guacolda SA, a power producer in Chile, is developing a 154 MW coal-fired project in Huasco, Chile, that is expected to go online in September 2015.
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Bith Energy, a Baltimore, Md.-based company that has been okayed to develop a 10 MW solar project in West Friendship, Md., is seeking additional approval to increase the size of the project.
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Developers are planning nine new gas-fired projects totaling almost 8 GW in Pennsylvania to make up for 4 GW of coal-fired retirements although analysts anticipate that persistently low power demand will prevent at least half from being built.
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Massachusetts regulators have approved NStar’s power purchase agreement to buy 27.5% of Cape Wind Associates’ 130-wind turbine project in the Nantucket Sound.
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Sunlight Partners, a Mesa, Ariz.-based solar developer, has applied for state approval for its third 5 MW solar project in North Carolina.
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Invenergy and Marubeni Corp. have refinanced their jointly-owned 370 MW natural gas-fired Hardee Power Plant in Bowling Green, Fla.
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Coal-fired plant shutdowns and resistance to nuclear-fired generation, against a backdrop of cheap natural gas, is pushing the industry toward a gas-heavy generation mix.
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Music evoking the soundtrack behind an epic good guy versus bad guy fight in a thriller played in the background as people piled into the general session named “Game Changers” on Monday at the J.W. Marriott Desert Ridge & Spa.
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Crisis management is becoming a higher priority for utilities in the wake of events like the 2010 BP offshore oil spill in the Gulf of Mexico and storms like Sandy.
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A lack of uniform standards for commercial solar installations is the main obstacle to structuring the market’s first securitization of solar panel revenues, says Paul Detering, ceo of Tioga Energy.
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President Barack Obama’s re-election is cheering those who think likely continued support of production tax credits and solar development will translate into more project finance and M&A flow.
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FirstEnergy Corp. and American Municipal Power are planning to develop an 873 MW gas-fired project in Eastlake, Ohio, on the site of an existing coal-fired plant owned by First Energy.
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Dominion Virginia Power has asked the Virginia State Corporation Commission for approval of the $1.3 billion, 1,358 MW Brunswick County Power Station combined cycle project that is needed to replace coal-fired retirements.
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The California Public Utilities Commission has approved utilities’ renewable energy procurement plans that allow them to solicit bids for contracts.
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JP Morgan is planning to invest tax equity in residential solar projects, say those who are involved in penning the transactions.
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American Electric Power is looking to adjust its capital structure as it prepares to split its Ohio generating assets from its Ohio distribution and transmission operations.
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Atlantic Power Corp. has assembled four tax equity investors to take $225 million in its Canadian Hills wind project in Oklahoma.
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AES Solar and co-developer 8minutenergy Renewables have mandated Citigroup and Morgan Stanley to lead a $416 million bond tranche backing their 200 MW Mount Signal solar photovoltaic project in Imperial Valley, Calif.
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Midstream gas companies are bringing forward planned bond issuances to tap a favorable market following the lead of El Paso Pipeline Partners.
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Free Flow Power, a Boston-based hydropower developer, is proposing adding hydropower generators to four dams near Pittsburgh, Pa., that would produce 100 MW.
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Solar panel manufacturer TenKSolar is developing a $10 million, 3 MW solar project in Ashburnham, Mass., and is in talks to sell the project to a merchant power company upon completion.
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Windsor Financing, a subsidiary of Energy Investors Funds, is looking to land a $246 million senior secured term loan B to refinance three stoker coal-fired plants in Virginia and North Carolina.
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A group of investors, including Goldman Sachs, California State Teachers Retirement System and Alstom, has made an $80 million equity investment in BrightSource Energy.
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The Los Angeles Department of Water and Power has increased the size of a request for proposals from 10 MW to 300 MW, after sponsors and developers urged them to open up the process to utility scale projects.
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A pair of Energy Future Holdings Corp. subsidiaries has issued $250 million senior secured notes in a private placement that will be used to repay intercompany debt.
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The city of Palmdale, Calif., is looking to sell a 570 MW hybrid gas-fired and solar project.
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Moxie Energy, a Vienna, Va.-based sponsor created by AES Corporation-alum, is looking for about $800 million to back its 850 MW Moxie Liberty gas-fired facility in Bradford County, Pa.
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Grid operators NY-ISO and PJM have agreed to cooperate on improving cross-grid power flow and to evaluate how additional natural gas will impact existing infrastructure as well as new developments.
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The Oregon Public Utilities Commission has received a complaint from Partners Development Group, a shop that has submitted a 650 MW gas-fired project into Portland General Electric’s request for proposals, saying that the RFP favors the utility’s own proposal.
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Panasonic Eco Solutions North America has teamed up with real estate investment trust Macerich to put solar installations totaling 10-12 MW on a dozen shopping malls around the country.
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Enel Green Power North America has lined up three tax equity investors with $410 million for two wind projects that are slated to be online by year-end.
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GE Energy Financial Services is selling its stakes in hydro and wind assets in British Columbia that it co-owns with Alterra Power.
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Pattern Energy has closed the roughly $600 million financing backing its 265 MW Ocotillo wind project in Imperial Valley, Calif.
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Calpine Corp. has upsized a refinancing by $220 million to $835 million and secured pricing of LIBOR plus 325 basis points, with a LIBOR floor of 125.
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Allstate is looking to start making equity investments in power and energy from a $2-3 billion infrastructure pot.
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The wind market is quietly gearing up for a new era in acquisition opportunities as a generation of wind farms that inked tax equity deals in 2007 draw near the partnership flip date—or the time when the tax equity investment matures.
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In this week's round-up: Gas-fired plants in Arizona, Michigan and Texas have found new owners just as Allstate Investments looks to make a drive into power equity plays.
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Green Energy Team has received a $72.9 million loan guarantee from the U.S. Department of Agriculture's Rural Utilities Service for a $90 million, 6.7 MW wood-fired biomass project on Kauai island in Hawaii.
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Golden Valley Electric Association has reached an agreement with state and federal officials that could lead to restarting a mothballed 50 MW clean coal-fired plant in Healy, Ala., if $40 million of additional emissions reduction equipment is installed.
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SunEdison’s $100 million, 25 MW Avra Valley solar project north of Tucson, Ariz., is the first of four projects contracted to Tucson Electric Power Co. that will go online by year-end.
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Iberdrola Renewables is preparing to seek approval from New York state regulators to develop the 96 MW Horse Creek wind project near Clayton, N.Y., after local authorities changed zoning regulations.
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Sponsors and developers are looking to establish master limited partnerships as a means for financing midstream and natural gas liquefaction assets.
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LS Power is proposing a $750 million, 900 MW gas-fired project in North Beaver, Pa., called Hickory Run and that would be online in 2016 or 2017.
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Century Aluminum Co. is looking for ways to restart the Ravenswood generating plant it needs to reopen a smelter in West Virginia after the state’s Public Service Commission rejected a 10-year power offer.
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Coal-fired plant retirements could range between 59-77 GW over the next five years and cost the industry about $144 billion, according to a new forecast from the Brattle Group.
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Terra Firma is preparing a renewables private equity fund up to $5 billion in conjunction with China Development Bank.
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Trina Solar, a photovoltaic solar panel manufacturer, is looking to expand operations into Latin America.
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A round-up of the candid moments at Renewable Energy Finance Forum-West at the Four Seasons in San Francisco.
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Astoria Generating is looking for a $450 million first-lien refinancing.
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Renewable developers waiting to make a move toward an initial public offering should begin preparing even when the markets are not ideal, bankers said at Euromoney’s Renewable Energy Financing Forum-West in San Francisco.
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Calpine Corporation has opted to set up a $615 million senior secured term loan after nixing a bond offering of the same amount late last month.
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When the Minnesota Vikings take the pigskin onto their home field Sunday in the Hubert H. Humphrey Metrodome at least one portion of the game will be fixed.
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NextEra Energy Resources is looking to refinance a portfolio of up to 10 wind projects.
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Idaho regulators will continue deliberations over a policy that could curtail wind generation in the state (PI, 7/17) despite a federal ruling that found the policy at odds with the Public Utilities Regulatory Policies Act.
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NRG Energy aims to issue a dividend to shareholders after freeing up cash flows via a $990 million issuance of 144A senior secured notes.
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LS Power has selected Fluor to build and operate its 170 MW Centinela solar project in Southern California.
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Southern California Edison is awaiting approval from the U.S. Federal Aviation Administration to fly helicopters near two airports near La Cañada Flintridge, Calif., as part of the construction process of a transmission line to tie a 201 MW wind project in Tehachapi into the grid.
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Minneapolis will push for greater energy efficiency and renewable initiatives in negotiations with Xcel Energy and CenterPoint Energy in negotiations over maturing land use contracts.
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Kentucky Utilities and affiliate Louisville Gas & Electric Company have issued a request for proposals for 700 MW of generation after a plan to purchase plants from LS Power fell through due to regulatory issues.
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Municipal utilities and co-ops are hunting 30-40 MW stakes in wind projects as they look to balance for generation portfolios.
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NextEra Energy Resources is looking to secure tax equity investment in its Limon I and II wind farms in Colorado.
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Western Wind Energy is pushing to increase the amount of a cash grant from the U.S Department of Treasury which came in $13,221,994 below the amount it requested.
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In this week's round-up: Tenaska Capital Management and Kruger Energy join in on the refinancing trend while some Asian investors scope for wind opportunities in Canada.
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It’s probable that no matter the outcome of the presidential elections on Nov. 6, about half the country will think there’s something to the world-ending, fringe prophecy focused on the end of the Mayan calendar in December.
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Ocean Renewable Power Company, the developer behind the first tidal power project to go online in the U.S., is looking for $25 million in equity investment to complete its maiden facility.
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Utilities have clicked into overdrive in the bond market in recent weeks with five issuing just under $3 billion in bonds on Aug. 13 alone.
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Black Hills Corp. will close two coal-fired plants and one gas-fired plant in Colorado, South Dakota and Wyoming rather than completing upgrades to meet environmental standards.
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The South Mississippi Electric Power Association will buy the Batesville gas-fired plant in Batesville, Miss., for about $286 million after winning a bankruptcy court-run auction.
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Energy has taken center stage in the election rhetoric as President Barack Obama and Republican presidential candidate Mitt Romney travel across the Midwest speaking to voters about the future of the energy sector from a wind farm and a coal mining company, respectively.
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First Wind and battery storage manufacturer Xtreme Power are working to get the 30 MW Kahuku wind farm back in operation after the 15 MW battery warehouse was destroyed earlier this month.
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Allison Macfarlane, the new chairman of the U.S. Nuclear Regulatory Commission as of July 9, is prioritizing how to dispose of spent atomic fuel, including finding a permanent disposal site.
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State Street Global Advisors is looking to make tax equity investments in renewable projects.
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There’s an invasion of crocs at Florida Power & Light’s Turkey Point nuclear facility in Homestead, Fla., and it’s not a deluge of the rubber yard shoes.
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EverPower is preparing to issue a $250 million private placement backing its purchase of Terra-Gen Power’s 150 MW Alta VI wind project in Tehachapi, Calif.
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Bankers and attorneys are discussing a federally backed enterprise, dubbed Sunny Mac that would essentially support the nascent solar securitization industry vis-à-vis the way Fannie Mae and Freddie Mac anchor mortgage-backed securities.
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Texas is standing out in the U.S. power market as investors and financiers look to back projects aimed at tapping into rising ERCOT power prices, at a time when other markets are slumbering.
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Hawaii Electric & Light is partnering with Aina Koa Pono on a biofuel supply contract that will provide 16 million gallons of renewable biofuel to Keahole Power Plant and 8 million gallons to sell to Mansfield Oil Co.
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The U.S. Senate Finance Committee agreed to renew the tax credit for wind power for another year with a 19-5 bipartisan vote, adding a cost of $3.3 billion.
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Exelon Corp., the nation’s largest owners of nuclear power plants and one of the top wind power owners, is lobbying against the U.S. Senate Finance Committee’s plan to extend the tax subsidy another year.
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AWS Truepower and Aires Renewables have teamed up to provide renewable energy consulting in Argentina, Chile, and Uruguay.
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Public Service Electric & Gas broke ground on a 1.06 MW solar farm in Hackensack, N.J., on a vacant brownfield property.
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Algonquin Power & Utilities subsidiary, Liberty Utilities, has finally completed the acquisition of Atmos Energy’s natural gas assets after the acquisition was originally announced in May 2011.
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A fire broke out Wednesday morning in the battery building at Kahuku’s wind farm off Oahu’s North Shore, with firefighters using dry chemicals to try to tame the flames
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ABB LTb received a $55 million order from the Brazilian utility Eólicas do Sul, for supplies for three substations and transmission infrastructure for its wind projects.
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Wisconsin Energy plans to buy the 20-turbine Montfort wind project in Dodgeville, Wis., from NextEra Energy for $27 million.
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The Mississippi Supreme Court unanimously agreed to deny Southern Co. subsidiary Mississippi Utility’s request for a $55 million rate increase to cover costs for its coal-gasification Kemper County plant that is under construction.
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Southwestern Public Service Co., an Amarillo, Texas-based subsidiary of Xcel Energy, is issuing a request for proposals for 88.7 MW of renewable energy that is not wind or solar.
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Public Service Electric & Gas has proposed to add 136 MW of solar over the next five years, and will proved loans to commercial and residential customers to develop an additional 97 MW.
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Southern California Edison’s San Onofre nuclear plant in Orange County, Calif., has been shut down since January for repairs and the company has not set a timeline for its return to operation.
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Deutsche Bank is joining the list of equity research analysts that have downgraded Northeast Utilities from a buy rating to a hold rating.
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Luminant Generation lost its appeal against the U.S. Environmental Protection Agency’s jurisdiction over of state clean-air laws.
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Exelon Power’s 28-turbine Criterion wind project, the first industrial scale wind project in Maryland, will be required by a federal plan to slow its turbines at particular times of year to limit the number of bats that might be killed.
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Northern Utilities merger with Boston-based NStar caused second quarter earnings to drop $30 million, a 42.6% decline from the previous year.
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Wal-Mart has opened its 100th store in California with solar installed on the roof, continuing its efforts to reach the company’s goal of having its stores supplied with 100% renewables.
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BP Wind Energy has begun construction on its 9,000-acre wind farm in Wyoming County, Pa., that will produce 141 MW of capacity.
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The Joseph M. Farley nuclear plant in new Dothan, Alaska has now been put back online after repairing a cooling valve.
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An affiliate of Acciona is issuing $332 million of bonds to refinance a pair of wind farms in Oaxaca, Mexico.
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Fifth Third Bank is to buy 60 kWh or 30% of the banks power consumption from the Lost Creek Wind Farm in DeKalb County, Mo.
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Duke Energy plans to close two coal-fired plants by Oct. 1: the Cape Fear plant in Moncure, N.C., and the H.B. Robinson unit in Hartsville, S.C.
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Wisconsin Power and Light plans to invest more than $1.4 billion in its generating fleet, while also planning to shut down its oldest and smallest coal-fired generating units.
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Duke Energy directors Theresa Stone and John Baker resigned on Friday claiming that Duke needed to find a new ceo.
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Environmental groups in Montana have filed to sue owners of the Colstrip coal-fired plant for not updating pollution controls when the facility was shut-down to undergo changes.
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Chile’s environmental evaluation office approved EIA’s second 158 MW phase of the Lebu Sur wind project.
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GE announced it would supply eight 2.75 MW wind turbines to power public lighting in Santa Catarina, Nuevo Leon.
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New Mexico’s Solar Energy Zone in Don~a Ana County could produce 3,000 MW of solar, comprising more than half of the state’s generation portfolio.
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The Public Service Commission in West Virginia issued an order preventing Appalachian Power and Wheeling Power customers from receiving any more rate increases.
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Standard & Poor lowered Duke Energy’s rating on Wednesday citing the utility’s lack of transparency since the merger as the cause.
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Southern Co., the largest utility consumer of coal, has put a cap of $16.3 billion to be spent on environmental pollution spending from 2012-2014.
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A Chilean bill to create a power highway connecting the two major grids in Chile and increase capacity to 30GW will head for government approval by September or October.
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Credit Suisse Group plans on investing $200 million in residential solar instillations developed by Sunrun and $100 million in residential and commercial solar developed by SolarCity.
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Following the North Carolina General Assembly passage of the 2002 Clean Smokestacks Act, the state has seen a 70% reduction in mercury emissions from coal-fired plants.
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Ocean Renewable Power Company will install the U.S.’s first tidal energy turbine next month.
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The Los Angeles Department of Water and Power has unveiled its 10 MW Adelanto Solar 46,000 panel project located 65 miles north of Los Angeles, Calif.
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The U.S. Department of the Interior announced the “All Of The Above” program that will set aside 285,000 acres of western public land for solar projects.
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Gen 110, an independent distributed energy provider in California, has exceeded 10 MW of residential solar power in 11 regions across the state.
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Puget Sound Energy has signed a PPA with TransAlta for 380 MW from the 1,340 MW Centralia coal-fired generating system, pending approval from the Washington utility regulators.
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Quebec is gearing up to issue a request for proposals for 700 MW of wind generation in the province.
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CPS Energy signed a 25 year PPA with OCI on a 400 MW photovoltaic solar plant outside San Antonio, Texas.
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The federal government will be auctioning off Atlantic Ocean offshore wind rights to developers.
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NRG Energy plans to buy GenON Energy will not see more plants built in Texas.
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Biomass plants generate 11% of alternative energy production, but out of the 107 biomass plants operating in the U.S. 85 have been cited for emissions violations in the past five years.
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Natural gas prices rose Monday to $3.117 per million Btu after summer temperatures reach all time highs.
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NRG Energy plans to buy GenON Energy will not see more plants built in Texas.
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Biomass plants generate 11% of alternative energy production, but out of the 107 biomass plants operating in the U.S. 85 have been cited for emissions violations in the past five years.
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Natural gas prices rose Monday to $3.117 per million Btu after summer temperatures reach all time highs.
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CPS Energy signed a 25 year PPA with OCI on a 400 MW photovoltaic solar plant outside San Antonio, Texas.
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The federal government will be auctioning off Atlantic Ocean offshore wind rights to developers.
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APR announced its 100 MW temporary generation project in Punta del Tigre, Uruguay is commercially operational.
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Ontario Power Generation is converting the 200 MW Atikokan Generating Station plant to biomass with a $170 million conversion.
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PG&E is partnering with NRG Energy, MidAmerican Solar, and First Solar to construct a 290 MW Agua Caliente photovoltaic solar plant in Yuma County, Ariz.
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The U.S Environmental Protection Agency will review its mercury, soot and other emission standards for new coal-burning power plants.
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The Duke Energy merger investigation will continue with North Carolina utility regulators requiring requested documents to be with the commission by month-end.
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Amonix, a manufacture of PV solar power systems, has closed its facility in Las Vegas, Nev. It had received $6 million in federal tax breaks and $15.6 million grant from the U.S. Department of Energy in 2007.
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Natural Gas futures have reached a six month high at $2.999 per million btu after reaching an all-time low of $1.907/MMBtu on April 19. Analysts believe any move above $3 will be short lived.
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American Electric Power saw a 2.8% increase to $362 million or 75 cents a share in the second quarter but warned next quarter’s profits could be hit by a power outage in Ohio after a storm.
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The building of a Cook Intel Region Inc’s 11 turbine 18 MW wind farm in South-central Alaska is underway. Construction is expected to be completed by the end of September.
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Bill Johnson, former ceo of combined Duke Energy, testified before North Carolina regulators Thursday stating during the merger process between Duke and Progress Jim Rogers wanted to renegotiate contracts but that would lead to a $675 million break-up fee.
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West Virginia’s Department of Environmental Protections has installed a 25 kW solar photovoltaic system, and a solar thermal system to heat water in the building on the roof of its offices using federal stimulus money to pay for the projects.
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The 1.35 GW Angra III nuclear plant in Brazil will not make its planned December 2015 completion. The target is now July 2016 because of a stall in the bidding round of two $1 billion contracts for installation for equipment, according to BNamericas.
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The Southern Co’s 100 MW Nacogdoches, Texas, biomass plant came online July 18.
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The Martin Drake coal-fired plant, outside Colorado Springs, Colo., has been the subject of a debate on whether to close down to 87 year old 256 MW plant, but the City Council decided to install new pollution equipment instead.
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Dallas-based Luminant, part of Energy Future Holdings, has been accused by the U.S. Environmental Protection Agency of failing to install modern pollution control devices as part of modifications to coal-fired plants.
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The U.S. Energy Department’s Office of Energy Efficiency and Renewable Energy invested $2.6 million to partner with Texas Tech University and Sandia National Laboratories to study how wind turbines interact with one another and how to make wind power more efficient.
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Last week the Braidwood twin-unit 2,600 MW nuclear plant in northeastern Illinois received special permission from the Nuclear Regulatory Commission to continue operating after its cooling pond rose to 102 degrees, making it the second request the plant has made since opening 26 years ago.
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Florida’s Public Service Commission has called Duke Energy ceo Jim Rogers to testify Aug. 13 to discuss the 35-year-old Crystal river nuclear plant that has been off line since 2009.
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Demand for power in the Midwest hit 98,300 MW Tuesday, close to the all time high of 98,526 MW set in July 2011.
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E.CL, a Chilean utility, placed a $36.6 million air pollution control order with Fuel Tech to modernize six coal-fired units.
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Thomas Pritchard, founding partner and chairman, and Kenneth Morris, partner and board member, of boutique energy investor Pritchard Capital Management, have joined the investment banking arm of Imperial Capital as co-heads of energy investing.
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The North Carolina Utilities Commission is expected to bring in outside expertise to help with the Duke Energy merger case.
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Troutdale Energy Center has submitted a bid to Portland General Electric to provide power from a $680 million natural-gas-fired plant in Troutdale, Ore.
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The U.S. Army has hired SolarCity to cover 850 military homes on Los Angeles Air Force Base and two bases in Colorado Springs to total 18,000 panels generating 6.4 million kilowatt hours of electricity annually
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Comtec Distributing selected Westinghouse Solar, a designer and manufacturer of solar power systems, to become its exclusive supplier.
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Jonathan Feipel has been named executive director of the Illinois Commerce Commission, which regulates power companies and other state utilities.
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Utilities in Idaho are looking to rework qualifying facility PPAs—a move that could slash revenues from hundreds of megawatts of contracted wind projects, leaving the facilities unable to service debt.
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The NRG Energy and MidAmerican Solar 290 MW Agua Caliente solar project in Yuma County, Ariz., is two-thirds completed with 200 MW being generated.
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Invenergy Wind’s 200 MW Bishop Hill Wind Energy farm in Henry County, Ill., began commercial operations featuring 133 GE turbines on 22,000 acres of farm land.
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Wind projects are racing to complete projects before the December 31 tax credit expiration, that if not renewed could drop new wind capacity as much as 93% next year according to American Wind Energy Association.
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According to Brazil’s EPE, the research arm of the Ministry of Mines and Energy in Brazil, distributed rooftop solar power is competitive with traditional power sources.
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The North Carolina Division of Air Quality announced mercury emissions from coal-fired plants have reduced 70% in the last decade.
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Bill Johnson, former Progress Energy ceo, has been called by North Carolina utility regulators to testify before the committee next week to discuss the manner in which he left Duke Energy, and if the committee was mislead prior to the Duke, Progress merger.
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DTE Energy plans to close its coal-fired Harbor Beach Power Plant on Lake Huron at the tip of Michigan’s thumb region due to increase in emission standards
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The University of Tennessee unveiled a solar-powered sustainability structure developed by Solar Secure with no utility grid hookup.
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Generadora Eolica Argentina del Sur is planning Latin America’s largest wind project. The eventual 1.4GW facility will be located in Chubut province in the south of Argentina.
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Juwi Wind began construction of a partially community-owned 30 MW Community Wind South farm, which is scheduled for completion in October.
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Kansas will double its wind capacity this year to 2,660 MW from 21 wind farms, which Gov. Sam Brownback claims will help provide jobs and money to rural areas.
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The Wisconsin Public Utilities Commission approved Wisconsin Power & Light’s plan to build a 200 MW wind farm in southern Minnesota despite The Citizens Utility Board and Wisconsin Industrial Energy Groups opposition.
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Dominion Resources started commercial service this week on its 585 MW Virginia City Hybrid Energy Center coal and biomass-fired power plant in southwestern Virginia.
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Banco Nacional de Desenvolvimento Economico e Social has frozen financing for turbines claiming equipment companies are not meeting the requirement for 40% of components to come from Brazilian suppliers.
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After power outages that left 911 emergency systems offline for three days in Fairfax County, Va., council members in both Virginia and Maryland purposed two bills to force Pepco to switch from above ground power lines to underground power lines.
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Duke Energy Ohio, a subsidiary of Duke Energy Corp., has filed a request with the Public Utilities Commission of Ohio for an $86.6 million increase for power rates, and $44.6 million increase for gas rates to implement in January 2013.
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A joint venture between GE, Spanish firm Duro Felguera S.A, and Argentinean firm Fainser were rewarded a turnkey contract for Vuelta de Obilogado 800 MW combined-cycle power plant to be built on the same site as General San Martin Plant.
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John McArthur, Mark Mulhern and Paula Sims, three former Progress Energy officials who were to help Bill Johnson run the merged Duke Energy, resigned Tuesday a week after Johnson left the company.
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Nuclear power plants are costing more to build in more than a decade ago with construction costs, mundane glitches, and delay charges raising costs from hundreds of millions to billions.
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The U.S. Environmental Protection Agency has asked the Illinois Environmental Protection Agency to review an air pollution permit it gave Tenaska in April for a purposed coal-to-gas plant near Springfield, Ill.
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Enel Green Power North America has begun operations the 150MW Rocky Ridge wind farm in Kiowa and Washita counties in Oklahoma.
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Valos Solar Ventures and Gehrlicher Solar America Corp. are teaming up to develop 235 MW of solar projects for Pacific Gas & Electric, Southern California Edison, San Diego Gas & Electric and municipal utilities.
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Southern Co. subsidiary Mississippi Power is appealing a denial by the state supreme court in June for a $55 million six-month rate increase linked to its 582 MW Kemper County Plant that is under construction.
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8minutenergy signed generation interconnection agreement with California Independent Systems Operator Corp. and San Diego Gas & Electric to provide 200 MW of solar PV power.
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The International Energy Agency conducted a Medium-Term Renewable Energy Market Report that predicts renewable power generation worldwide will grow by more than 40% in the next five years.
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Brazil’s Mining and Energy Ministry authorized two startup wind farms totaling 41.2 MW of installed capacity.
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Acciona’s Windpower generator-assembly plant in Iowa is on its last U.S order due to the production tax credit expiry set for December.
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North Carolina regulators have launched an investigation after the Duke-dominated board ousted Bill Johnson, Progress Energy’s ceo and planned ceo after merger.
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Progress Energy and Duke Energy have finalized their $26 billion merger to create the country’s largest utility, serving 7.1 million customers in six states.
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BTU Solutions, a Texas-based company that specializes in demolishing power plants, will buy State Line Energy, a retired coal-fired plant, from Dominion Resources.
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The U.S. Environmental Protection Agency’s administrator Lisa Jackson has given New Mexico state and Public Service Co. of New Mexico officials 90 days to find a solution that will curb haze-causing pollution from the 1,800 MW San Juan Generating Station.
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Pacific Gas & Electric has submitted a request to the California Public Utilities Commission to collect an additional $5.25 billion from its customers over the next three years.
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Dairyland Power, a La Crosse, Wis.-based utility, paid nearly $156 million to settle allegations from the U.S Environmental Protection Agency claiming that two of Dairyland’s coal-fired plants have not obtained proper permits or installed the best pollution equipment.
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Georgia Power and Solar Design & Development collaborated to develop a series of solar projects around the state totaling 19 MW, more than doubling the states solar production.
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Algonquin Power & Utilities’ renewable power subsidiary Algonquin Power. completed the acquisition of 50 MW Sandy Ridge project in Pennsylvania, the first of four wind projects.
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Renova Energia brought online South America’s biggest wind farm in northeastern Brazil last week, and plans to double its wind capacity in coming years to produce the cheapest wind power in the world.
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Bridgewater, N.J.-based Footprint Power has reached an agreement with Dominion Energy to buy coal- and oil-fired Salem Harbor Power Station and convert the plant to natural gas.
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Oklahoma is allowing utilities to enter into long-term natural gas contracts that will lock in low gas prices for generation.
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South Carolina Electric & Gas has filed a request for a 6.61% rate increase, for the first time since January 2010, to help cover the costs of $300 million spent on upgrades and improvements.
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Abound Solar Inc., in Loveland, Colo., is seeking bankruptcy court protection after receiving $68 million in U.S. government-backed loans under President Barack Obama’s energy policy.
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The Long Island Power Authority has approved a feed-in tariff program to encourage companies to develop medium-scale solar projects, with a total program cap of 50 MW.
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Texas regulators increased the power price cap by 50% from $3,000 per MWh to $4,500 to encourage new investments in power plants.
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Gas-fired plants produced the same amount of generation as coal in April for the first time in the U.S.
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Equatorial Energia has placed a formal bid on bankrupt power distributor Celpa after receiving exclusive rights to negotiation.
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New Jersey Governor Chris Christie plans to sign a bill this week that will jump start solar projects and prevent job loss in the industry.
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Brazilian company Eletrobras and Uruguayan company UTE signed a memorandum to jointly operate a 100 MW wind farm in Uruguay which will connect the countries’ power grids.
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NextEra Energy’s proposed 750 megawatt McCoy solar project outside the city of Blythe, Calif., is receiving mixed reviews from the locals worrying about environmental effects.
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Brazilian company Petrobras plans to expand its generation portfolio to 7.8 GW by 2020.
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A Chilean environmental commission suspended Endesa’s $1.4 billion, 740 MW Punta Alcalde project in Chile’s Atacama region due to findings in an environmental impact report.
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Pacific Gas & Electric is facing hundreds of millions of dollars in fines from the California Public Utilities Commission relating to the San Bruno pipeline explosion in September, 2010.
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A three-judge panel on a federal appeals court ruled unanimously in favor of the U.S. Environmental Protection Agency’s emission regulations, stating that the EPA is allowed to regulate greenhouse gases under the Clean Air Act.
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Gregory Jaczko, the outgoing chairman of the U.S. Nuclear Regulatory Commission, allegedly contradicted statements made to Congress when talking to other agency officials, according to a report that was compiled at the request of Senator James Inhofe.
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The city of Chicago is considering leaving Commonwealth Edison Co. in search of better rates.
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Pattern Energy’s Ocotillo wind project, consisting of 112 turbines on 10,000 acres of public land near San Diego, is facing its fourth lawsuit.
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Exelon Corp.’s sale of three Maryland based coal-fired power plants has attracted American Electric Power Company Inc., and FirstEnergy Corp., which are weighing the costs of pollution control equipment in their decisions on whether to purchase the plants.
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An initiative to increase the renewable portfolio standard to 25% from by 2025 from 10% by 2015 in Michigan is facing opposition due to the estimated corresponding $10 million increase in utility bills.
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Duke Energy Corp. and Progress Energy have agreed to the conditions set out by the U.S. Federal Energy Regulatory Commission in its approval of the deal earlier this month.
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Liberty Utilities, subsidiary of Algonquin Power & Utilities Corp., will be taking over National Grid electric and gas properties in New Hampshire this summer.
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Minnesota Power has completed its baseload diversification study, which will help to conduct a planning process for the company’s 2013 Integrated Resource Plan.
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New Energy Technologies Inc., based in Maryland, has enhanced its transparent solar cell system including higher speed, lower cost, and greater durability.
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Uruguay has increased its estimate of wind installments in the country to 1,000 MW by 2015, with over half of that capacity going under construction this year.
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Basin Electric Cooperative has begun constructing a natural gas-fired project near Williston, N.D. near a natural gas processing plant.
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A town of less than 2,000 folks that sits just off of Interstate 29 in Missouri is probably the greenest small town in America.
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The California Public Utilities Commission has approved San Diego Gas & Electric’s proposed $435 million substation project on 58-acres in Jacumba and refurbishment of an existing plant in Boulevard.
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The Cleaner Valley Coalition is asking We Energies to either install pollution controls or switch the Valley plant, near the High Rise Bridge in Milwaukee, to natural gas.
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Ebay is partnering with Bloom Energy to build the county’s largest non-utility fuel cell instillation for its latest call center in Utah.
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A coal-fired plant in Cape May County, N. J., will convert to natural gas by 2016.
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Steve Wright, ceo of Bonneville Power Administration, will retire at the end of January from the federal power distributor that is based in Portland, Ore.
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Colorado Springs Utilities’ has signed a two-year contract signed a two year contract with Xcel Energy for 108,000 MWh of wind power beginning Jan. 1, 2013, as a way to test consumer interest in buying wind power.
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The U.S. Natural Resources Defense Council condemned AEP, Ameren, DTE Energy, Energy Future Holdings, FirstEnergy, GenOn, PPL, and Southern Co., for spending a combined $67 million since 2010 for lobbying against stricter pollution regulations in the Clean Air Act.
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AES has brought two retired units at its Huntington Beach gas-fired plant in Huntington Beach, Calif., back online to make up for the San Onofre Nuclear Generation Station being offline for repairs.
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The U.S. Senate blocked a bill proposed by Sen. James Inhofe, R-Okla., that would have overturned the U.S. Environmental Protection Agency regulations to reduce greenhouse gas emissions from coal-fired plants.
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Conduit Capital Partners’ financing of two 20 MW solar projects in Peru were approved by the U.S. Board of Directors of the Overseas Private Investment Corp., a branch of the U.S. government that provides development financing.
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Shareholders of CH Energy Group approved Fortis’ buyout offer of $65 a share with 91% voting in favor, having Fortis buy CH Energy at $65 a share.
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A partnership between North Bay Hydro, Conestoga-Rovers & Associates, and Caterpillar has brought a 1.6 MW landfill-gas-to-energy project online in North Bay, Ontario.
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The Duke Energy merger with Progress Energy will have a hearing on Monday in which North Carolina advocacy group Waste Awareness and Reduction Network will cross-examine two officials over changes to the merger agreement since the fall.
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The political uncertainty on Capitol Hill and the uncertainty over expiring renewable tax credits has some players questioning whether production tax credits are a good thing for the industry.
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Tri-State Generation and Transmission Association, which supplies power to rural areas in Colorado, Nebraska, New Mexico, and Wyoming, says it cannot complete a proposed plant in Kansas under timelines associated with current U.S. Environmental Protection Agency policies.
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NextEra Energy is proposing changes to the planned boundaries of its 150 MW Jericho Wind Energy Centre project near London, Ontario, that could go into construction next year pending regulatory approval.
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Minnesota Power says that it will need more time to decide whether to shutdown three coal-fired plants—Aurora, Schroeder and Cohasset—that are at least 50 years old by 2016, than the time suggested by the state’s Department of Commerce.
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Public Service Electric & Gas Co. has received approval from New Jersey Board of Public Utilities for its North Central Reliability Project that will upgrade transmission lines and substations in the state.
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The Electric Reliability Council of Texas is planning to bring 2 GW of mothballed plants online during peak demand hours of the summer months.
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Senator Kevin Witkow, R-Conn., quit the state’s energy committee last month to take a job at Connecticut Light & Power.
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Eight power companies, including Florida Power & Light, have submitted bids to provide power to customers in Lake Worth, Fla.
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Best Buy is teaming up with NRG Energy’s Reliant in Texas and Exelon Corp. in Illinois to sell retail power plans to customers.
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Snohomish County PUD and Puget Sound Energy are ahead of schedule of the state’s renewable portfolio standard that mandates that utilities must derive 3% of their generation from renewables by year end.
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Yoga gurus are always extolling the power of breathe, but they probably never imagined that you could literally breathe life into your cell phone.
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The New York Public Service Commission has authorized a $45.6 million rate increase over the next three years for Orange and Rockland Utilities to cover property taxes, labor costs, and expenses from last year’s summer storms.
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SolarCity Corp. and U.S. Bancorp have established a tax equity fund to finance $250 million of residential, commercial, and government solar projects.
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Bank of America will focus on renewables development and other areas as part of its $50 billion initiative to address climate change and reduce natural resource demands.
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Demand for solar panels in the U.S. is expected to double this year, with 3.3 GW of panels being installed, according to a study from the Solar Energy Industries Association and GTM Research.
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The California Public Utilities Commission approved an affiliate of Alogonquin Power & Utility Corp.’s purchase of the California Utility, which provides service to the Lake Tahoe area.
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SPI Solar acquired rights from Solar Hub Utilities to develop 68 solar projects totaling 28 MW on Oahu, Kona, and Maui.
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Governor John Hickenlooper has appointed Pam Patton, of the La Plata Electric Association, as Colorado Utilities Commissioner.
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Roughly 506 MW of solar was installed in the U.S. in Q1 representing an 85% boost over the same period last year, according to the Solar Energy Industry Association.
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The cost of offshore wind generation could be reduced by up to 33% by 2020, according to reports from the wind industry and the UK government.
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Gamesa has cancelled its 60 MW wind project near Shaffer Mountain, Pa., because the proposed land is a major flyway for migrating hawks, eagles, and the endangered Indiana bats.
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Coal-fired generation in the U.S. is forecast to account for only 40% of the country’s electricity, the lowest portion since 1949.
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Utilities with a big portfolio of coal-fired generation claim that railroad companies are charging high transportation costs to deliver coal.
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California’s Department of Water Resources will not be renewing its contract to buy power from NV Energy’s Reid Gardner coal-fired plant, as the agency looks to reduce greenhouse gas emissions.
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E.ON Climate & Renewables has finalized a tax equity transaction with Bank of America Merrill Lynch for a wind farm in Illinois.
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Green REIT is in talks with the U.S. Internal Revenue Service to get a private letter ruling allowing the Kansas City, Mo.-based entity to put five to eight generation and transmission assets into a real estate investment trust.
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Many companies are looking to export coal from the U.S. in the face of lower demand stemming from low natural gas prices and impending emissions regulations, according to Raymond James & Associates.
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Moody’s Investors Service may be downgrading Exelon Corp.’s rating of Baa2, after hearing of Exelon’s financing plans that include a 40% increase in debt since March 31.
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The Utah Associated Municipal Power Systems made its final mortgage payment on its 14.6% stake in the 390 MW Hunter II coal-fired plant in Emery County, paying down $66 million in bonds four years early.
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A surplus of capacity, falling prices and a multitude of new companies entering the solar and wind manufacturing sector is leading many start-ups to go out of business.
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An Iowa state court has rejected NextEra Energy Resources’ challenge of a 2009 ruling that allowed MidAmerican Energy Co. to double its wind generation and increase customers’ rates to cover the expansion.
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The Picway plant, along Scioto River near Picway in Ohio, is scheduled to retire by June 1, 2015 because American Electric Power Company Inc. states it is too expensive to install pollution control equipment.
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The first unit of American Municipal Power’s 1,600 MW coal-fired Prairie State Energy Campus in Southwestern Illinois is slated to start dispatching power on July 1.
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Progress Energy and Duke Energy received a provisional approval from the U.S. Federal Energy Regulatory Commission on Friday for their merger which would create the nation’s largest utility.
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The San Onofre nuclear plant in Southern California will remain offline for the remainder of the summer, risking a blackout during the year’s peak power demand season.
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The U.S. Internal Revenue Service is challenging the $932 million in deductions that Scottish Power made on $4 billion in intercompany notes issued to help fund its purchase of U.S. utility PacifiCorp.
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Jack Thayer, cfo of Exelon Corp., says the retirement of 18 GW of coal-fired plants in the U.S. will benefit the power markets.
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Countries that have been adding wind and solar generation need to focus on establishing adequate capacity markets that include coal and gas-fired generation.
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There are two holidays this week, but only one—Father’s Day—is spurred by Hallmark.
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The major players in project finance have been in flux for quite some time and there are several interesting stories in our people and firms section that chronicle this trend.
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Invenergy’s 212.8 MW wind project in Gratiot County, Mich., the largest in the state, began commercial operation this week.
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Ohio emits the largest amount of mercury from coal-fired generation, according to the U.S. Natural Resources Defense Council, followed by Pennsylvania and Indiana.
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Dartmouth College acquired a $294,072 grant from the U.S. Department of Energy to research strengthening steel alloys that can withstand extreme conditions for next generation of gas- and coal-fired plants.
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The Shaw Group Inc. is teaming up with Exelon to develop a high-pressure, supercritical carbon dioxide oxyfuel power cycle which produces cost-effective electricity with little to no air emissions called NET Power.
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Indiana regulators have ordered Duke Energy Corp. to release over 100 documents pertaining to the corporation’s troubled coal-gasification Edwardsport plant in southwestern Indiana.
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BP Wind Energy is in the midst of building a 66,000 acre, 300-turbine wind farm next to SandRidge Energy oil fields in Kansas and farmers in Harper, Barber, and Kingman counties are receiving big payoffs from the companies to use their land.
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DTE Energy plans to install 140 wind turbines in Michigan, roughly half of the turbines will be installed in Sigel, Minden, and McKinley Townships by year-end and the other half will be installed in Chandler Township by the end of 2013.
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Colorado’s Public Utilities Commission was blasted by auditors who found the commission’s paperwork sloppy and sometimes non-existent.
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Texas could experience rolling blackouts as low power prices discourage companies from developing generating assets in the state, experts say.
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Two major investors in Chesapeake Energy Corp., Southeastern Asset Management and Carl Icahn, are forcing four out of nine board members to retire and are picking their replacements.
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New Jersey utilities PSE&G, Jersey Central Power & Light, Rockland Electric, and Atlantic City Electric plan to participate in the state’s program that calls for developing 180 MW in new solar capacity in the next three years.
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The Solar Electric Power Association recognized Tuscan Electric Power with the 2012 Investor Owned Utility of the Year.
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Calpine Energy Services signed a 5-year contract with Southwestern Public Services Co., a subsidiary of Xcel Energy, to supply SPS with 200 MW from its Oneta combined cycle power plant.
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Nick Akins, the ceo of American Electric Power says the U.S. Environmental Protection Agency is trying to shut down the coal-fired generation.
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The former ceo of Acciona Energy North America, Dan Foley, has been appointed as coo of Lincoln Renewable Energy. Declan Flanagan, ceo of LRE, explains that Foley’s previous experiences make him a great asset to the company.
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Chesapeake Energy is facing a cash crunch stemming in part from losses from selling its hedges against low gas prices last October.
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Piedmont Natural Gas has completed the Wayne County Pipeline Project that will supply to a natural gas-fueled combined-cycle plant at Progress Energy’s plant in Goldsboro, N.C.
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Implementing pollution minimizing equipment to meet new U.S. emissions regulations may cost the country $175-275 billion through 2035.
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Liberty Utilities received state and federal approval to purchase National Grid’s electric and gas business in New Hampshire.
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Southern Co. subsidiary Georgia Power will likely exceed its $6.1B budget for two new Plant Vogtle nuclear reactors, according to William Jacobs Jr., a nuclear engineer who was hired by the Georgia Public Service Commission to monitor construction of the first-of-its-kind nuclear plant.
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First Wind has awarded $65,000 in the last month to help 16 graduating high school students across the country who live near its wind farms or projects fund their plans to study the environment, energy or science and engineering in college.
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American Electric Power’s Kentucky utility has withdrawn its request to spend $940 million on environmental equipment for its 800MW Big Sandy 2 coal-fired unit.
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Starwood Energy Group Global announced that the final phase of its 69 MW solar photovoltaic project in Sault Ste. Marie, Ontario has been completed.
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Hawaiian Electric Company has obtained approval from Hawaii Public Utilities Commission for a three-year contract with biodiesel producer Renewable Energy Group.
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South Carolina Electric & Gas plans to retire six coal-fired units across three plants by the end of 2018.
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The U.S. Department of Commerce has put tariffs on Chinese wind turbines in reaction to a complaint filed by U.S. manufacturers.
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Vermont Electric Power Company is examining ways to defer investment in transmission by building power plants in areas of high demand.
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NextEra Energy has been answering questions from local officials regarding its proposed 37-wind turbine Bluewater project near Seaforth, Ontario.
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Hess Corp. and Competitive Power Ventures each had a gas-fired project pass the recent PJM auction, making it more likely that the proposed facilities will be built.
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Thomas Miller, senior v.p and treasurer of Solar Trust of America, will be leaving that company to become the v.p. and treasurer of Cleco Corp. effective July 16.
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Governor Rick Snyder is uncertain that Michigan utilities will be able to comply with a proposition requiring them to derive 25% of their generation from renewable sources by 2025.
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China’s government supervised power-grid operator, State Grid, has agreed to purchase transmission assets in Brazil from Spain’s Actividades de Construction y Servicios for R$1.86 billion ($938.2 million).
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Pacific Gas & Electric Co. may be fined $20,000 a day for approximately 3,062 violations related to high pressure natural gas pipelines near densely populated areas.
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The U.S. Environmental Protection Agency has released a haze management plan for Wyoming that will require coal-fired plant operators to accelerate plans to install pollution control equipment.
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The U.S. Environmental Protection Agency has purposed a new 30-year plan that would limit emissions of carbon dioxide from new fossil fuel-fired plants larger than 25 MW.
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Pacific Gas & Electric remains the country’s biggest solar generating utility, while New Jersey’s Public Service Electric & Gas provides the most solar power per customer, according to the Solar Electric Power Association.
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Appalachian Power is planning to convert two coal-fired units at its Clinch River facility to gas-fired and buyout a minority stake in the Amos coal-fired plant from Ohio Power, an affiliate American Electric Power Co.
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Entergy has received approval from Louisiana regulators to put its transmission assets into the Midwest Independent Transmission System Operator, the first step toward selling its lines business to ITC Holdings.
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ERCOT is predicting that Texas will have a power shortage for the next decade in its latest forecast.
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The Colorado Public Utilities Commission is expected to rule today on an Xcel Energy proposal that reduces the amount of residential and commercial solar generation it subsidizes to 36 MW a year from 60 MW.
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Boise, Idaho-based developer U.S. Geothermal has signed a purchase agreement with institutional investor Lincoln Park Capital Fund of Chicago for the sale of up to $10.75 million of common stock over a 36-month period.
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Wind turbines at First Wind’s 105 MW Palouse wind project in Whitman County, Wash., are expected to be erected this summer, according to engineering procurement and construction contractor RMT of Madison, Wis.
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Hu Honua Bioenergy has arranged a power purchase agreement with Hawaii Electric Light Co. for a 21.5 MW project that is converting Hilo Coast Power Co., an existing facility, into a biomass-fired plant that will burn local waste such as eucalyptus.
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New England saw the average price of wholesale power fall 6% last year due to lower natural gas prices, reduced power demand and increased hydro generation, according to a report from ISO-New England.
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EnergySource, a sponsor of the 49.9 MW Hudson Ranch I geothermal project in Salton Sea, Calif., along with the American Council on Renewable Energy and Imperial County officials dedicated the plant Friday.
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The Credit Suisse power and utility team has lost a trio of senior staffers to Bank of America, an unusually large group for power investment banking which hasn’t seen group defections for a number of years.
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The PJM Interconnection Board expects to issue the results of its annual capacity auction on Saturday that will procure additional generation.
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PPL Corp. has hired Mark Wilten as its new v.p. of finance and treasurer, replacing James Abel who retired on April 1.
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Wal-Mart will begin a program to put solar installations that total 10.5 MW on the roofs of 50 stores in Massachusetts this summer.
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Colorado Springs Utilities is evaluating whether to put scrubbers on its Martin Drake coal-fired plant in Colorado Springs, Colo.
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The Quechen Tribe of the Fort Yuma Indian Reservation has filed a temporary federal restraining order against Pattern Energy’s Ocotillo wind project near San Diego, Calif., in an attempt to stop construction.
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Iberdrola Renewables is canceling plans to build two wind projects, including Clover Run, in Pennsylvania that would have used an aggregate 64 wind turbines.
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Two Credit Suisse power and utility senior staffers are reportedly eyeing a move to Bank of America: Ray Wood, head of global alternative energy, and Gavin Wolfe, vice chairman of investment banking & co-chairman of power and renewables energy.
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Officials at WestLB remain open to selling its structured finance practice before the bank is broken up June 30, but observers doubt enough time remains to ink a sale of the entire unit.
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Electric Transmission Texas, a joint venture of American Electric Power and MidAmerican Energy Holdings, has awarded Quanta Services the exclusive right to negotiate the construction of 460 miles of new 345 kV transmission lines in West Texas’ Competitive Renewable Energy Zones.
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Barbara Boxer, a California senator, has asked the Nuclear Regulatory Commission for documents detailing 2009 and 2010 design changes to the generators at the sidelined San Onofre nuclear plant near San Clemente, Calif.
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Conergy, the Hamburg, Germany-based solar system supplier, has reported financial improvements in the first quarter, attributing that success to a restructuring program and improvements in EBIT and net cash flow.
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Chinese state utility State Grid Corp. is working on what is set to be the largest transmission project in the world.
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Chicago-based E.ON Climate & Renewables has obtained building permits for proposed wind projects across Indiana.
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A proposed underwater transmission line off the Atlantic coast has received approval from the U.S. Bureau of Ocean Energy Management and the Department of the Interior.
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New York Senator Charles Schumer is calling on NRG Energy to continue its payments to the Chautauqua County government even if it decides to idle its coal-fired plant at Dunkirk.
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Arizona solar developer Sunlight Partners has filed applications with North Carolina regulators for five new solar projects in Guildford County.
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Cameco Corp., a Canadian mining firm, is planning to buy nuclear fuel broker Nukem Energy for $136 million.
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Southern Co., developer of a proposed Georgia nuclear facility, is disputing cost adjustments with other owners of the plant.
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Boston-based Free Flow Energy has abandoned plans to develop five hydro projects on the Mississippi River.
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Solar developer Pristine Sun is set to begin work on seven small solar projects throughout Tehama County, Calif.
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Houston company Spectra Energy Corp. is working to secure regulatory approval for a new natural gas pipeline that will run from Tennessee to Georgia.
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Developers are scoping several hundred megawatts of long-term offtake contracts that may surface in Chile, as multiple mining companies ready tenders this year for generation.
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Regulators in Wisconsin have approved a proposed $202 million transmission line that will run through the western part of the state.
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The Minnesota Department of Commerce has recommended that state utilities shut their older coal-fired facilities ahead of schedule.
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Utility company Energy Northwest is planning to purchase $711 million worth of fuel to power its nuclear plant near Richland, Wash.
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California state regulators have approved a proposed solar project that had been postponed due to concerns over several endangered species at the site.
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Saudi Arabia is looking for $109 billion in investments for solar projects to generate one third of the country’s power by 2032.
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Grid operator PJM Interconnection is planning to auction off transmission capacity in a sale that could be worth as much as $10 billion.
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Southern Co. has tacked on an additional seven months to its building schedule for a proposed nuclear facility in Georgia.
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Nebraska-based Tenaska Energy has agreed not use coal as a generating source for its latest proposed project.
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Global solar generating capacity is set to grow 200-400% over the next five years, with Asia poised to become the new solar leader.
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Solar developer Westinghouse Solar and solar manufacturer CBD Energy have finalized a definitive merger agreement.
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Cleco Power is seeking roughly 800 MW of long-term capacity resources in a draft request for proposals issued on Monday.
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Five partners have joined law firm Bracewell & Giuliani from the power and utilities group at beleaguered Dewey & LeBoeuf.
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The Sierra Club and other environmental groups are planning to oppose a 15-year energy plan proposed by Dominion Virginia Power.
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Duke Energy and Progress Energy have filed an updated merger agreement with North Carolina regulators.
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GE Technology will supply 38, 2.5 MW turbines for a wind project being developed in Poland by Invenergy.
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The Solano wind project, operated by the Sacramento Municipal Utilities District, has recently received an upgrade of 128 MW of generating capacity.
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Public Service of New Hampshire has stopped operations at its 460 MW Merrimack coal-fired station, claiming it has become cheaper to buy electricity on the open market.
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Purdue University has announced a $33.1 million plan to upgrade its energy facilities.
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The U.S. Department of the Interior has activated a Nevada solar project- the first developed on public land.
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California-based solar developer SPI Solar has secured an engineering contract for a 6.4 MW solar installation at a New Jersey resort.
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Work will begin this week on $700 million of upgrades for a Pennsylvania coal-fired facility.
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Calpine Corp. has announced that it will keep its Sutter gas-fired facility open for the rest of 2012 after securing power purchase agreements from several utilities.
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Ameren Corp. has written down its $377 million investment in the Duck Creek plant in Canton, Ill., as it struggles with falling profits at its unregulated unit, Ameren Energy Resources.
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Gamesa Energy has abandoned plans to install a prototype offshore wind turbine in the waters off the mid-Atlantic coast.
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Environmental groups are urging the U.S. Nuclear Regulatory Commission not to renew an operating license for Entergy Corp.’s Pilgrim nuclear facility near Plymouth, Mass.
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We Energies will spend $3.5 billion on small energy projects throughout Wisconsin.
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AES Corp is selling a majority of its assets in China, including wind and coal-fired generation.
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NRG Solar has lined up a tax equity from a subsidiary of MetLife for a five project solar photovoltaic portfolio in California and New Mexico.
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Construction on a wind farm being developed by AES Corp. has stopped until a permit can be obtained from the U.S. Federal Aviation Administration.
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The Kentucky Public Service Commission has approved plans for a new gas-fired generating facility to be built in Louisville.
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Edison International will close two Chicago-area coal-fired plants earlier than expected.
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Minnesota wind developer Juhl Wind has acquired electric engineering company Engineers Collaborative.
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FirstSolar Inc. has announced a sharp quarterly loss, due mostly to restructuring of the company and a decline in the solar panel market.
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Barely visible and completely gelatinous, a jellyfish-like foe has rendered a California nuclear plant inoperable.
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Canadian Solar has closed an agreement with the Bank of China for the financing of an Ontario solar project.
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Planners in Imperial County, Calif. have approved a proposed wind project to be developed by Pattern Energy.
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The Sacramento Municipal Utility District has completed work on a wind farm in Rio Vista, Calif.
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Texas-based Luminant Power is looking to restart 2,200 MW of coal-fired generation before demand peaks in the summer.
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First Energy will delay closing three coal-fired facilities in Ohio for three years.
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First Wind has announced plans to build a $210 million wind farm near Oakesdale, Wash.
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A Texas environmental group is suing Dallas-based Luminant Power over one of the company’s coal-fired facilities.
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Duke Energy CEO Jim Rogers believes that U.S. utilities companies are relying too heavily on natural gas to meet generating needs, endangering the nation’s energy security.
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Acciona Wind Power has begun work on a wind project in Cedar County, Iowa.
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The Tennessee Valley Authority has completed work on a natural gas-fired facility near Rogersville, Tenn.
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Brian Goldstein, head of project finance in the Americas at BNP in New York, has left the bank and been replaced by Andrew Platt, managing director and head of power mergers and acquisitions of North America.
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U.S. utilities companies are looking to cut back on coal-fired usage and renegotiate coal contracts due to a warmer winter and cheaper alternatives weaken.
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General Electric Co. is shifting its focus from China to Australia as the company looks to tap the country’s booming energy business.
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The Bonneville Power Administration has ordered several wind farms in the Northwest to cut production to accommodate a surplus of hydro power.
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Duke Energy will accept a $420 million charge for costs incurred at one of its coal-fired plants in Indiana.
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Solar developer SolarCity has announced plans for an initial public offering.
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Energy developer The Babcock & Wilcox Company has secured a $25 million contract to upgrade a coal-fired plant owned by Canadian company SaskPower.
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The AES Corp. has announced that Victoria Harker will be stepping down as cfo of the company.
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The U.S. Department of Agriculture has approved a proposed 50 MW solar project planned for Ohio.
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The largest rooftop solar array in the country has begun operation at the Gloucester Marine Terminal in New Jersey.
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All aboard! The Southeastern Pennsylvania Transportation Authority, or SEPTA, is piloting a project that captures kinetic energy from the braking of moving trains along the Market-Frankford line in Philadelphia.
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Salvador Escobedo, founding partner of Latin American solar management firm SOLAM, on the need for strong, transparent competition in the region: “The conquest of Latin America happened 500 years ago.”
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Virginia legislators originally in opposition to a proposed $6 billion coal-fired plant have changed their votes.
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Pacific Gas & Electric and Terra-Gen have canceled a contract for a proposed geothermal project in Dixie, Nev.
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NRG Energy, MidAmerican Solar and First Solar have installed the first 100 MW of the Agua Caliente project in Yuma County, Ariz.
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The California Public Utilities Commission has given approval for the proposed Shiloh IV wind project in Solano County, Calif.
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MidAmerican Energy subsidiary PacifiCorp plans to spend $1 billion on upgrading its coal-fired assets.
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The Oklahoma Public Service Co. has agreed to retire two units of its coal-fired facility in Oologah.
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American Electric Power ceo Nicholas Akins has announced that AEP will derive just 50% of its power from coal sources by 2020.
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Nevada-based Ormat Technologies has secured a $61.2 million contract to provide engineering and construction services for a planned geothermal project in North America.
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Development of the mammoth Genesis solar facility in the Mojave Desert has run into problems after Native American artifacts were discovered at the site of the project.
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Regulators in Maine have set terms for the first long-term power purchase agreement for tidal power in the U.S. Regulators have instructed three Maine utilities to talk with Ocean Renewable Power Co. to put tidal energy onto the power grid by the summer.
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Banco Nacional de Desenvolvimento Econômico e Social will remain the dominant renewables investor in Latin America and the Caribbean in 2012, boosted by local content rules and a pipeline of wind projects being developed from a 2009 tender.
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Transmission operator Alstom Grid has announced that it will invest $7 million in upgrades to an Alaska transmission line.
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PPL Montana is suing the U.S. Environmental Protection Agency to prevent it from releasing information about its Colstrip coal-fired plant to environmental groups.
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The chief nuclear officer for Southern California Edison has said that he expects the San Onofre nuclear facility to reopen soon.
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NV Energy has abandoned plans for a wind project in Idaho due to concerns for an endangered bird species threatened by construction.
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German wind turbine manufacturer Fuhrlander AG has canceled plans to build a turbine factory in Butte, Mont.
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Planners in Dover, Del. have approved a proposal from Calpine Corp. to build a gas-fired generating facility.
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Edison Mission Group has begun construction on a wind farm in Knox County, Neb.
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New emissions standards issued by the U.S. Environmental Protection Agency are causing a large increase in spending for two Kentucky utilities.
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The Sierra Club has announced that it is working with activists and researchers in Washington and Montana to put a stop to Puget Sound Energy’s purchase of power generated by the Colstrip generating station in Montana.
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Nuclear developers Westinghouse Electric Co. and Ameren Missouri are seeking federal funds and licensing to develop new nuclear reactors in Missouri.
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What does a 2,110 MW coal-fired plant in Wyoming have in common with Brad Pitt, Interstate 80 and Yellowstone National Park?
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Denver-based Taylor Energy has come on as a financial partner in the development of a coal-fired plant in Georgia.
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General Electric is looking for $6 billion in renewables contracts in Australia by 2020.
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Regulators in Arizona have approved Arizona Public Service’s purchased of a stake in Southern California Edison’s coal-fired plant in New Mexico.
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The state of New York has doubled the amount of funds available for residential and business solar development.
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Michael Donohue, formerly a managing director in the power and utilities group at Barclays Capital, is set to join Royal Bank of Scotland.
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DTE Energy is planning to build a 110 MW wind farm in Huron County, Mich.
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The Shaw Group and Westinghouse have received approval from South Carolina Electric & Gas to go forward with engineering and construction for SCE&G’s proposed nuclear project.
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A settlement agreement between Black Hills Energy and the utilities’ customers has been rejected by the Colorado Public Utilities Commission.
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Brazil is considering putting measures in place that could boost solar panel sales by $3 billion in coming years.
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Groups opposed to a nuclear facility proposed by Southern Co. are asking a court of appeals to block the license to go forward with the project.
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California-based SunEdison has completed a 25 MW solar project in Gujarat, India.
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Canada is on track to install a total of 1,500 MW of new wind generating capacity in 2012.
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California legislators are considering a bill that would allow utilities companies to count hydro toward their renewable energy requirements.
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Colorado utility Tri-State Generation and Transmission Association has filed a lawsuit in federal court to appeal the U.S. Environmental Protection Agency’s new emissions standards.
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Canadian wind developer SouthPoint Wind has filed a C$1 billion ($1.01 billion) lawsuit against the Ontario government for its moratorium on offshore wind development.
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Canadian Solar will purchase a majority stake in 16 solar projects from SkyPower.
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Pattern Energy has reached a settlement agreement for the construction of its 150 MW Spring Valley wind project in Nevada.
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A Vermont-based nonprofit organization is suing Green Mountain National Forest over plans to construct a wind project in the area.
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American Electric Power is planning to upgrade its Cook nuclear facility in Michigan.
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Wind generation is set to double in the next four years, as emerging markets increase investments in renewables and U.S. investment declines.
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Massachusetts has launched a program aimed at increasing solar development in the state.
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Georgia utility Cobb EMC has agreed to buy power from the state’s largest solar project.
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Regulators in West Virginia have ordered FirstEnergy Corp. to continue operating three coal-fired plants the company was planning to retire.
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Santee Cooper, the South Carolina state utility company, will sell a share of its stake in the output from two nuclear facilities under construction in the state.
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Siemens CEO Felix Ferleman says the wind industry must quickly cut costs if it is going to be able to compete with other forms of generation.
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American Transmission Company is looking to expand transmission services around Green Bay, Wis.
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Geronimo Wind Energy will build a wind project in Rock County, Minn.
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The Maryland Public Service Commission has released a statement calling for new gas-fired generation for the state.
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Energy development has been stalled in Maryland, as legislators have pulled support for bills targeting offshore wind development and gas exploration through hydraulic fracturing.
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China is beginning to close the gap with the U.S. for renewable energy investments, according to a report from research group Pew Charitable Trusts.
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GE Energy Financial Services will auction 225 MW of bi-directional capacity from its existing Linden variable frequency transformer connecting the PJM Interconnection and New York Independent System Operator grids.
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NRG Energy has abandoned plans to convert a gas-fired facility in Baton Rouge, La., to coal.
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Energy storage company Xtreme Power will provide a 3 MW power storage system for a wind project in Alaska.
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An executive at Exelon Corp. is calling on state governments to aid in the development of nuclear generation.
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BrightSource Energy has cancelled plans to go forward with an initial public offering.
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Demand for solar power in Pennsylvania has sapped the state’s $100 million PA Sunshine Solar program of funds.
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The natural gas boom in the U.S. is beginning to worry utilities companies as prices are falling to new lows throughout the country.
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Northeast Utilities and NStar have closed on the merger of the two companies after 18 months of regulatory review.
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New Jersey-based Fisherman’s Energy is looking for more time to file a revised application to build a wind farm in the waters off Atlantic City, N.J.
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The Public Utilities Board of Ontario says it does not have enough information to approve a $6.2 billion proposal for a hydro project in Muskrat Falls, Labrador that includes a underwater cable to Newfoundland.
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New York City has increased its solar capacity with the installation of solar panels on several city-owned buildings.
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Solar developer National Solar Power Partners has closed an agreement with manufacturer SolarWorld to acquire panels for several projects in Florida.
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The Public Service Commission of Wisconsin has approved Wisconsin Power & Light’s purchase of a gas-fired facility.
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A proposed offshore wind energy bill has failed to pass in the Maryland General Assembly.
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The U.S. Nuclear Regulatory Commission has fined NextEra Energy for failure to maintain emergency service facilities at the company’s nuclear plant near Homestead, Fla.
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GE Energy Financial Services is auctioning 225 MW of bi-directional transmission capacity from its Linden transmission facility at the intersection of New York City and PJM power grids.
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Zoning officials in Nobles County, Minn. have approved the next phases of a proposed 30 MW wind project.
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The Maine Land Use Regulation Commission has rejected a proposal from First Wind to build a wind farm near Springfield, Maine.
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The U.S. Nuclear Regulatory Commission has approved a license extension for the 1,150 MW Columbia nuclear station near Richland, Wash.
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Transource Energy, the transmission project launched by Great Plains Energy and American Electric Power, is planning to develop two initial transmission projects worth $466 million.
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The Los Angeles City Council has approved a rooftop solar program that will encourage property owners to sell solar generation from rooftop panels back to the city’s Department of Water and Power.
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Work on a nuclear plant has been halted indefinitely as the U.S. Nuclear Regulatory Commission has stated that more inspections and repairs are needed.
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Mesa Power Group, the renewable energy company formed by T. Boone Pickens, is developing a 377 MW wind farm in Texas.
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The Massachusetts Department of Public Utilities has approved the merger of Northeast Utilities and NStar.
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Roughly 371 earthquakes have rocked California in the past seven days. This activity isn’t necessarily anomalous, according to the U.S. Geological Survey—what’s more interesting is that these regular gyrations haven’t stopped developers from dotting the state with thousands of wind turbines.
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A round-up of notable outtakes from Platts 27th Global Power Markets conference April 1-3 in Las Vegas.
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The domestic reserves of natural gas should reduce the commodity’s price volatility and propel it into being more than just a renewable bridge fuel for decades to come, proponents of the natural gas told attendees at Platts 27th Global Power Markets conference.
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First Solar and Exelon are in the last stages of finalizing documentation with the U.S. Department of Energy for a loan guarantee for the 230 MW solar project, Frank De Rosa, senior v.p. of First Solar, told PI on the sidelines of the Platts 27th Global Power Markets conference.
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Industry officials at Platts 27th Global Power Markets conference appeared guardedly optimistic that the production tax credits for wind would be extended at some point, although the 2013 wind market could still suffer if the extension comes late in the year.
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The board of supervisors in Imperial County, Calif. has approved three solar projects proposed by 8 Minute Energy Renewables.
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Silverado Power has signed power purchase agreements with San Diego Gas & Electric for 15 MW of solar generation.
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Canadian developer SouthPoint Wind has filed a C$1 billion ($1.3 billion) lawsuit against the Canadian government over a moratorium placed on offshore wind development.
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The Arizona Public Service Co. has reached an agreement with the Arizona State Land Department on the development of a 35 MW solar project near Yuma.
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American Electric Power and Great Plains Energy have launched a company that will develop and invest in transmission projects.
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Oakland, Calif.-based Solar Trust of America has filed for bankruptcy.
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The state of New Jersey could see up to $2 billion in new gas-fired facilities in 2012.
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The Pennsylvania Department of Environmental Protection has approved pollution control upgrades for the coal-fired Homer City generating station.
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EverPower Wind Holdings has purchased a 150 MW wind project in California.
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Chinese company ENN Group is planning a $5 billion solar project in Nevada.
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Atlantic Power Corp. has purchased a 48% stake in on Oklahoma wind farm, and now owns almost all of the 300 MW Canada Hills wind power project.
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Wind industry revenue is set to increase 7.6% in 2012, or $4.3 billion, according to an industry report from IBISWorld.
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SolarReserve has received environmental approval for a 200 MW solar project in Nevada.
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Progress Energy is likely to face increased scrutiny from the U.S. Nuclear Regulatory Commission as it moves forward with plans to build nuclear reactors in Florida.
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