Top Stories
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Two vice presidents in Goldman Sachs' renewable power group have headed to a Morgan Stanley-backed impact investment platform, where they will lead a new renewables investment division.
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Solar and energy storage developer Intersect Power ?is preparing to launch a debt raise to support its development-stage project pipeline.
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A consortium of investors led by InterEnergy Group has purchased a 670 MW gas-fired project in Panama, which has been in the works for the better part of the last decade.
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Several term loan B deals trading in PJM Interconnection have taken a dip after clearing prices from the highly anticipated Base Residual Auction (BRA) for delivery year 2022/2023 were announced. But deal watchers say that this is unlikely to have a significant impact on revenues in the long run.
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7X Energy has sold a 130 MW solar project in Texas to a Korean power company.
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CoBank's recently appointed head of project finance, who succeeded Brian Goldstein in April, has left the bank.
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After two years of delays due to uncertainty over the Minimum Offer Price Rule (MOPR), PJM Interconnection has finally concluded its Base Residual Auction (BRA) for delivery year 2022/2023, although the results of the highly anticipated auction have fallen short of market participants' expectations.
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An Indiana-based coal mine owner and operator is planning to develop up to 1 GW of renewables-powered generation near the site of a coal mine that is retiring in the next couple of years.
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BP has agreed to acquire about 9 GW of development-stage solar projects spread across 12 US states from 7X Energy.
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NordLB's Sondra Martinez, CohnReznick Capital's Conor McKenna, Convergent Energy + Power's Frank Genova and Kirkland & Ellis's Brian Greene discuss the latest developments in the energy storage market.
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Spain's EDP Renewables has agreed to buy a 628 MW wind and solar portfolio in Chile, marking its entrance into the Chilean market.
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SB Energy, the renewables division of SoftBank, has clinched construction debt and tax equity financing for a pair of solar projects located in California.
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The sponsor of the 2.7 GW Westlands Solar Park (WSP) in California has secured debt and tax equity financing for the project's first phase.
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The Biden administration has identified areas off California's central and northern coasts for the development of offshore wind projects and is preparing to lease them out in an auction targeted for mid-2022.
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Ormat Technologies has agreed to acquire a portfolio of operational and development-stage geothermal assets in Nevada and an associated transmission line from Terra-Gen.
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Brazil's National Bank for Economic and Social Development (BNDES) is arranging financing for what is being touted as the largest solar complex under construction in Latin America.
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Brazos Electric Power Cooperative has secured US Bankruptcy Court approval to access the first tranche of a proposed $350 million debtor-in-possession (DIP) financing package.
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CoBank's former head of project finance, Brian Goldstein, has joined the Loans Programs Office (LPO) at the US Department of Energy (DOE).
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Ares Management Corp is preparing to take ownership of a financially troubled gas-fired, combined-cycle power plant in PJM Interconnection.
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The owner of a transmission project in Chile has mandated three banks to refinance the asset in the bond market, after issuing a request for proposals last fall.
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Stonepeak Infrastructure Partners has agreed to invest up to $750 million in an electric vehicle charging and transportation joint venture with Nuvve Holding Corp, a Californian EV-charging business that recently went public via a SPAC merger.
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Eight bidders have been identified for the sale of North Carolina-based solar developer Cypress Creek Renewables.
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The CFO of battery storage developer and independent power producer Key Capture Energy has left the firm, and a senior investment banker has been brought in to act as interim CFO.
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A Colombian sponsor has tapped two international banks to arrange a debt package for a roughly 200 MW gas-fired power plant.
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The Biden administration has approved the construction and operation plan for the 800 MW Vineyard Wind project off the coast of Massachusetts, which has been waiting in the wings for years due to federal permitting issues and other delays.
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Competitive Power Ventures ?has circled a term loan B package to refinance a gas-fired, combined-cycle project in Maryland and expects to close a deal next week.
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M&A bankers are readying the sales of a number of district energy systems that are anticipated to hit the auction block in the coming weeks.
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As Chile's largest developers secure supply contracts with corporate offtakers and search for corporate financing for their portfolios, project finance bankers wonder whether there will be any mandates left in the long run that are not corporate-based.
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Marketing materials have been circulated for the sale of a majority stake in a combined-cycle gas-fired power plant in Texas.
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A pair of sponsors has tapped the bank market to raise financing for a portfolio of mixed generation assets in Chile which include both operational and greenfield projects.
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PSEG Power has found a buyer for its 365 MW Solar Source portfolio, following a competitive auction process.
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Ex-Goldman Sachs managing director Jean-Pierre Boudrias and ex-Macquarie Capital managing director Ross Warner ?have teamed up to launch their own hydrogen energy storage business.
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A bulge-bracket investment bank is slotting acquisition financing into place to support Dutch fund APG and Celeo Redes' purchase of Colbún's transmission business.
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A renewables developer has tapped the bank market for a roughly $1 billion debt raise to support the construction of a mammoth solar-plus-storage project located in California.
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KeyBanc Capital Markets has hired six renewables investment bankers from a regional bank to join its San Francisco-based utilities, power and renewables team.
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CMI Energia, the renewable energy arm of Guatemalan conglomerate Corporación Multi Inversiones, has refinanced the debt associated with its subsidiaries in Central America and the Caribbean with a $1 billion deal.
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Ardmore, Pennsylvania-based developer Prospect14 has launched a sale process for its solar and solar-plus-storage development project pipeline.
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Leeward Renewable Energy has struck a deal to acquire a 580 MW wind and solar portfolio in Indiana.
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Marketing materials have been circulated for the sale of Glidepath Power Solutions' battery storage platform.
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A lithium-ion battery manufacturer is seeking $25 million of private equity capital to fund its expansion in the US.
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The refinancing for a 1.4 GW portfolio of cogeneration plants has been launched into the term loan B market.
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Caisse de dépôt et placement du Québec (CDPQ) has struck a deal to provide $1 billion to Invenergy Renewables to fund development activities and growth.
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A developer has brought a development-stage solar portfolio in Ercot South to the market this month, after a previous sale process came to a halt due to the Covid-19 pandemic.
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AES Gener ?is shuttering a 58.35 MW diesel-fired plant in the Chilean region of Valparaiso, as other developers close their coal- and gas-fired assets in the country and pivot toward renewable power generation.
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Details have emerged on Competitive Power Ventures' term loan B refinancing of a gas-fired, combined-cycle project in Maryland.
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CoBank has appointed a new head of project finance, succeeding Brian Goldstein who left the bank earlier this month.
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CleanCapital has secured a $300 million corporate equity commitment from an insurance fund manager as it looks to restructure the company and launch its next stage of growth.
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Colombia's Empresas Públicas de Medellín appointed Jorge Andres Carillo as its general manager on April 13, making him the third person to hold the job in little more than a week as internal strife flares up at the city-owned energy company.
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Capital Dynamics has recruited a senior finance official from AES Clean Energy as it looks to rebuild its clean energy infrastructure team.
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Owners of hedged renewable energy projects in Texas face an uphill battle as they plead for protection against foreclosure in court, if a recent ruling by a New York judge is anything to go by.
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The final pricing on two recent power-sector term loan Bs landed inside initial price thoughts, indicating a healthy market for additional issuance.
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Rubicon Capital Advisors has hired Tony Memmo as managing director and Owen Weihman as director in New York.
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Listed solar investor US Solar Fund is aiming to raise equity on the London Stock Exchange in part to allow it to refinance a portfolio of solar assets at a less aggressive leverage ratio.
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Capital Dynamics has signed a build-transfer agreement for a solar project with an Indiana utility, as this type of agreement steadily becomes more popular.
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Hanwha Q CELLS USA Corp has revealed details of the tax equity financing for its operational Kellam Solar Project, located in Van Zandt County, Texas, in Ercot's North zone.
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LS Power has signed an agreement to sell its 230 MW Hog Bayou Energy Center gas-fired project in Alabama to an investment vehicle managed by another private equity firm.
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Canadian pipeline operator TC Energy Corp has hired Marathon Capital to advise on the procurement of as much as 620 MW of wind capacity to power its US assets.
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OMERS Infrastructure has signed a deal to sell its minority stake in Vento II, a 596 MW portfolio of wind projects in four US states, to Atlantica Sustainable Infrastructure.
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Houston-based oil pipeline investor Buckeye Partners has teamed up with global commodities house Trafigura's latest renewables venture, Nala Renewables, to acquire a majority stake in US renewables developer Swift Current Energy.
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German developer BayWa r.e. has signed a loan with the North American Development Bank for a utility-scale solar project in Texas.
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Avenue Capital Partners has hired a new portfolio manager for its sustainable solutions credit fund following the departure of the previous PM in January.
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Brian Goldstein, who was sector vice president and head of project finance at CoBank for six years, is no longer with the firm.
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A former head of power and utilities lending at RBC Capital Markets is among a trio of high-level hires announced by US solar developer Sol Systems on April 6.
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Stonepeak Infrastructure Partners has found a buyer for its RED-Rochester district energy system in New York state after shelving an earlier sale process for the asset last year.
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Energy Capital Partners has raised a $1.2 billion continuation fund to house its stake in renewables developer Terra-Gen, previously held under Energy Capital Partners III, employing a strategy that has come into vogue among private equity firms in recent years.
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DNB Bank has named Emilio Fabbrizzi as head of Americas renewables and infrastructure as it expands its coverage of the region.
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Sempra Energy has struck a deal to sell a non-controlling stake in its new Sempra Infrastructure Partners platform to investment firm KKR & Co.
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Solar and battery storage developer Strata Solar has raised $150 million of flexible capital in a deal with Blackstone Credit ?and its affiliates.
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President Joe Biden has announced an ambitious $2 trillion infrastructure plan that includes a wide-reaching set of initiatives aimed at supercharging the country's clean power and renewables industry.
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Leeward Renewable Energy has closed its acquisition of First Solar's 10 GW utility-scale solar project development platform.
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Competitive Power Ventures is preparing to mandate an arranger for the refinancing of a gas-fired combined-cycle project on the US East Coast.
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Ørsted has brought in Ben Pratt, a former senior managing director for power origination and trading at Uniper Global Commodities North America, to oversee its Chicago-based US energy trading team.
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The White House has rolled out a raft of new leasing, funding and development goals that will catalyze offshore wind projects, strengthen supply chains and create union jobs.
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Ørsted has made a final investment decision on a combined wind and solar project in Texas, which the Danish company expects to be online in the first half of 2022.
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Three members of BlackRock’s infrastructure credit group have left the firm for The Carlyle Group in New York.
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Although the Peruvian renewable energy market has been slow to develop compared to that of its neighbors, sponsors such as ENGIE Energia Peru are gradually ramping up their activities in the country.
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A renewables developer in the US is looking for a strategic investor to take an up to $300 million equity stake.
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Kirkland & Ellis has hired a senior tax attorney from Orrick, Herrington & Sutcliffe as it builds up its renewable energy finance practice.
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Invenergy has closed the construction financing for its 999 MW Traverse Wind Energy Center, the last to be financed of the three projects that make up its 1,485 MW North Central Wind Energy portfolio in Oklahoma.
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First Sentier Investors has agreed to purchase an additional stake in Terra-Gen, which would raise its interest in the company to 50%.
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New Fortress Energy intends to offer $1.5 billion in notes to fund its acquisition of Golar LNG Partners.
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Czech solar developer Solek has signed an $85.25 million senior secured loan to finance a portfolio of small-scale projects in Chile known as PMGDs.
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Hunt Energy Network, an affiliate of Hunt Consolidated, has raised capital from an insurance fund manager for a portfolio of distributed energy storage assets in Texas.
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Enel Green Power has signed an aggregated virtual power purchase agreement with a consortium of four non-utility offtakers – including ridesharing company Uber – which has been described as the largest contract of its kind.
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Generate Capital has hired Alfred Griffin, the founding president of NY Green Bank, to oversee its new sustainable infrastructure credit platform as senior managing director.
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I Squared Capital has launched a $405 million term loan B package as part of the financing of its $961 million acquisition of publicly-listed independent power producer Atlantic Power Corp.
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As the Mexican government pushes through its counter-reform of the energy sector, some investors are preparing to leave the country while others attempt to navigate the uncertainty.
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A private equity firm has put a roughly 600 MW portfolio of merchant wind projects in New York state on the auction block.
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Macquarie Infrastructure and Real Assets has bought a geothermal energy platform based out of Utah and is combining it with another recent purchase to create one of the largest independent geothermal platforms in the country.
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Initial price talk has been circulated for the term loan B that I Squared Capital is issuing to partly fund its acquisition of North American independent power producer Atlantic Power Corp.
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Invenergy has signed a build-transfer agreement with a utility for a solar project in Indiana, as this type of deal becomes more common in the solar sector.
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An infrastructure fund manager is preparing to auction off its interests in what it is said to be the largest dispatchable distributed generation fleet in Texas.
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I Squared Capital is approaching the market with a $405 million term loan B package as part of the financing of its $961 million acquisition of publicly-listed independent power producer Atlantic Power Corp.
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NextEra Energy has priced a floating rate note offering over SOFR rather than Libor for the first time, becoming one of the first non-financial corporate bond issuers to do so.
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A buyer has emerged for Upper Peninsula Power Co, the Michigan-based electric utility owned by Basalt Infrastructure Partners.
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Macquarie Infrastructure and Real Assets (MIRA) is combining two portfolio companies – waste-to-energy business Wheelabrator Technologies and waste-by-rail company Tunnel Hill Partners – and refinancing them with a $1 billion term loan.
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Power Finance & Risk is pleased to announce that nominations are now open for its 18th Annual Deals and Firms of the Year Awards.
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Algonquin Power and Utilities Corp has provided extra details on which of its hedged wind farms in Texas were impacted by winter storm Uri.
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Goldman Sachs Renewable Power (GSRP) has agreed to buy a community solar portfolio in New York state from a Spanish sponsor.
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MUFG has introduced a new CLO asset class, bundling $500 million of project finance and infrastructure loans together for Starwood Property Trust in a deal that clearly demonstrated investor appetite for the product.
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