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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This week's PPA Pulse features a Kellogg Co power purchase agreement with a combined wind and battery storage project in Texas.
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Before 2020 came to a close, New York-based developer Glenfarne Group was able to refinance its roughly 1.5 GW Latin American generation portfolio with a mix of bank debt and bonds, following a path opened up by other sponsors in the region who had refinanced their assets earlier in the year.
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Deal watchers say the sudden bankruptcy filing of Brazos Electric Power Cooperative – which had previously enjoyed single-A credit ratings – could be the first of many in the wake of the recent winter storms in Texas.
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A group of former creditors of the Coso Geothermal portfolio in California, who have owned it since a debt restructuring in 2017, have signed a deal to sell it to a new strategic owner.
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Akin Gump’s project finance and renewables practice has relocated en masse to Allen & Overy, greatly expanding the British firm’s presence in the US, which will include an office on the West Coast for the first time.
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NRG Energy is selling a portfolio of US fossil fuel-fired generation assets totaling 4,850 MW to ArcLight Capital Partners.
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Georgia Power has issued its first sustainability bond – which is similar to a green bond but with an expanded list of eligible projects that include social initiatives.
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In February, for the first time, Power Finance & Risk brought together representatives of the bank loan, private placement, term loan B and tax equity markets with a project sponsor to discuss the state of project finance, how they coped with the Covid-19 pandemic and what is in store for 2021.
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As winter storm clouds pass over Texas, frozen natural gas pipelines thaw out and icy wind turbine blades start spinning again, project finance professionals and investors are starting to form a clearer picture of the fallout for power generation assets in the state.
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The proposed acquisition of a Chilean electric distribution company by Chinese state-owned company State Grid International Development (SGID) has worried local politicians.
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Exelon Corp has announced its intention to spin its competitive generation and retail power businesses off into a separate publicly-listed company following a strategic review.
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When Clearway Energy Group recently offloaded a 1.6 GW portfolio of renewable energy assets to its yieldco Clearway Energy, third-party co-investor Hannon Armstrong Sustainable Infrastructure Capital opted for an unusual capital structure, swapping out common equity for preferred equity instead.
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Securitization exists in the public consciousness primarily as a shadowy corner of the capital markets in which out-of-control financial engineering causes global economic meltdowns. Could it be due a reappraisal?
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Eight community choice aggregators in California are aiming to leverage their collective purchasing power by combining to form a new joint powers authority called California Community Power.
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Matrix Renewables, a portfolio company of private equity firm TPG, expects to keep purchasing assets as it attempts to build a roughly 3 GW operational portfolio by 2023.
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Southern California Edison has priced its first securitization in more than 20 years, the proceeds of which it will use to finance upgrades and other costs associated with its wildfire prevention program.
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As winter storms wallop Texas, leaving around four million people to wait out rolling blackouts and sending power prices skyrocketing, project finance professionals and investors are assessing the fallout for project-financed assets in the Lone Star State.
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Allete Clean Energy has signed a deal to sell two repowered wind projects in Minnesota to utility holding company Xcel Energy.
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IDB Invest has arranged an A/B loan to finance the purchase of receivables from several renewable energy projects and portfolios in Chile as part of its strenuous efforts to prop up the country’s power sector, which is reeling from a government-mandated price freeze.
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US lawmakers have reintroduced the Growing Renewable Energy and Efficiency Now (GREEN) Act, first floated in June 2020, which would extend tax credits for renewable and carbon capture projects and create an incentive for standalone energy storage.
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GenOn Energy is preparing to launch a project financing for a pair of dual-fuel peaking power plants in PJM Interconnection in the bank market.
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As Mexico's President Andres Manuel López Obrador lays out his vision of a counter-reform of his country’s energy industry, private investors in power and renewables are pondering whether to leave – assuming they are able to find an exit.
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The Abu Dhabi Future Energy Co, also known as Masdar, has reached first close on its acquisition of a 50% stake in a 1.6 GW solar, wind and battery portfolio from EDF Renewables North America.
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The Blackstone Group has reached a restructuring deal with the creditors of its Frontera combined-cycle gas-fired plant in Texas, which sells its output across the border in Mexico.
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French oil and gas supermajor Total has solidified its presence in US renewables with the acquisition of a 2.2 GW fleet of development-stage solar projects with 600 MW of co-located battery storage assets in Texas.
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Key Capture Energy has closed a roughly $100 million financing for a portfolio of six energy storage projects in Texas, and is conducting pre-marketing for debt to finance another portfolio in the same state.
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Special purpose acquisition companies (SPACs) have proliferated at a blistering pace over the past year, and market participants are virtually certain that at least one renewable energy developer will go public this way by the end of 2021.
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A Canadian infrastructure fund manager has launched a sale process for its 49% stake in a 30 MW wind farm in Ontario.
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Updated: IDB Invest has developed an innovative project finance loan product that includes an incentive for replacing high-emissions assets with renewables, and rolled it out to its first customer—Engie Energia Chile.
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Ares Management Corp has announced its investment in Apex Clean Energy's 302 MW Lincoln Land wind project in Illinois, which was first reported by PFR on January 12.
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Brookfield Infrastructure Partners has agreed to sell its district energy business Enwave Energy to two groups of investors, one of which will take ownership of the US business and another the Canadian assets.
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A trio of senior officials have left Capital Dynamics' energy infrastructure business to join a large private equity firm, where they will be focusing on renewable energy.
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A Thai investor has taken a stake in the 972 MW gas-fired Linden Cogen facility in New Jersey, following the trend of Asian investors - previously Korean and Japanese - who have taken an interest in the project.
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JLC Infrastructure, the infrastructure investor backed by former Los Angeles Lakers star Earvin "Magic" Johnson, Jr, has sold down a stake in solar developer Greenskies Clean Focus.
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Caithness Energy has refinanced the holding company debt associated with a combined-cycle gas-fired plant in New York.
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Updated: Several private equity firms are understood to be considering buying a stake in a US natural gas pipeline and storage company that was recently put up for sale.
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Singapore's sovereign wealth fund GIC Private Limited has agreed to pay $2.05 billion to acquire a 19.9% stake in Duke Energy Indiana.
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Last year, solar ABS faced its first major test in the form of economic disruption wrought by the Covid-19 pandemic. To discuss how the market weathered the storm, PFR brought together a panel of market participants, including both issuers and investors.
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Renewables developer sPower has obtained tax equity financing for North Peak, which is a portfolio of four solar projects located partly in its home state of Utah and partly in California.
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InterEnergy Group’s recent refinancing of two renewable energy projects in Panama – one of which is named for a papal encyclical – was the first issuance of green bonds from the private sector in Central America. Investors gave the deal their full blessing, writes Carmen Arroyo.
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Colombia's Ecopetrol has presented a non-binding offer to purchase the state's majority stake in Latin American transmission company Interconexión Eléctrica (ISA).
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Lightsource bp has closed a $380 million debt package, tax equity and mobilized construction for 316 MW of solar projects in Texas.
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Residential solar financier Sunlight Financial has agreed to go public via a merger with Apollo Global Management's latest energy transition and sustainability-focused blank check company, Spartan Acquisition Corp II.
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A buyer has emerged for First Solar's development platform, following a competitive auction process.
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In order to deepen our understanding of the benefits and the pitfalls of advanced hedging and offtake strategies, PFR brought together a group of experienced market participants to share their perspectives and insight.
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The blank check company launched by bond manager Pacific Investment Management Co (PIMCO) last year with former NRG Energy CEO David Crane at the helm has selected LS Power's electric vehicle charging business as its target.
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NRG Energy is raising debt and equity for for a merchant gas-fired project in Queens, New York, that will replace an existing asset the company owns on the site.
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The years-long stampede of international capital into the US renewable energy sector has continued unabated in the first few weeks of 2021, as latecomers from around the world have finally got in on the action.
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London-based fund manager NextEnergy Capital has acquired a portfolio of small-scale solar projects totaling 42.2 MW in Chile from Grenergy Renovables.
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Goldman Sachs is arranging a receivables securitization for a group of Chilean power producers that have been affected by a power price freeze that was implemented in 2019.
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Spain’s Naturgy Energy Group has bought a a portfolio of US solar assets developed by Candela Renewables from Macquarie.
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EDP Renewables has signed a deal to acquire a majority stake in C2 Energy Capital’s US distributed solar platform, C2 Omega.
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Macquarie’s Green Investment Group has agreed to take a stake in Californian utility-scale energy storage developer esVolta.
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AES Gener, the Chilean subsidiary of AES Corp, is adding a 114 MW wind farm to its development pipeline as part of its 1.6 GW portfolio of renewable assets in Colombia and Chile.
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Norwegian conglomerate Aker has agreed to purchase a controlling stake in Irish developer Mainstream Renewable Power, which is working on a 1.3 GW renewable portfolio in Chile.
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Canada Infrastructure Bank and Oneida Energy Storage have signed a memorandum of understanding for the largest project of its kind in Canada - a 250 MW/1000 MWh energy storage facility in southwestern Ontario.
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I Squared Capital has struck a $961 million deal to take listed independent power producer Atlantic Power Corp private.
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Engie has begun the permitting process for a 353.4 MW wind farm in the Chilean region of Antofagasta.
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Developers and investors are beginning to build portfolios of renewables in the Caribbean and Central America, a region that is slowly diversifying its energy mix despite lacking investment-grade ratings.
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As battery energy storage begins to grow out of its niche and emerge into the project finance mainstream, several recently completed and live deals point to the road ahead – and the value of creditworthy counterparties.
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An independent power producer in Texas is close to selecting arrangers for a potential financing of its merchant generation portfolio.
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With its Spotsylvania Solar Energy Center in Virginia, developer sPower offered the project finance market something it hadn’t seen before. But while the market responded positively to the project, the road to the finish line was far from smooth.
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Credit Suisse has promoted its head of North America renewables in New York to a new global position overseeing investment banking in renewables and sustainable energy technology.
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AES Brasil has signed a purchase agreement with Cubico Sustainable Investments’ subsidiary in Brazil for two wind farms totaling 158.5 MW.
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AES Brasil has signed a memorandum of understanding with ferroalloys company Companhia de Ferro Ligas da Bahia-Ferbasa for a power purchase agreement.
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The state of New York has chosen two projects sponsored by Equinor and its joint-venture partner BP in its latest offshore wind tender.
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Excelsior Energy Capital has closed its first fund, Excelsior Renewable Energy Investment Fund I, with capital commitments of $504 million.
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Novatus Energy and Southwest Generation, two portfolio companies of JP Morgan Asset Management's infrastructure investment funds, have merged to become a combined renewable energy and gas-fired power platform.
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New Fortress Energy is increasing its presence in the Brazilian LNG, natural gas and power market with a raft of acquisition agreements in the country.
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Norway's Statkraft has placed an order with Nordex for a 518.7 MW wind project in Brazil, the sponsor's largest wind project in South America.
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Nordex has selected a new CFO to replace the incumbent Christoph Burkhard, who had held the position since October of 2016.
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Chile’s Transelec is seeking regulatory approval for a transmission project in the Antofagasta region that it was awarded in a tender in 2019.
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Invenergy sealed loans at the end of last year for the three large wind farms it is preparing to build in Oklahoma for American Electric Power utility companies.
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Richard Grosdidier – whose solar finance career has included stints at NextEra Energy, NRG Energy, Innogy Renewables and Sunfinity Renewables – has turned to microgrids for his next challenge.
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Canada's Polaris Infrastructure has won an extension of the exclusivity period in its negotiations to acquire a 10 MW hydro project in Panama from Navitas Holdings.
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Brookfield Asset Management has agreed to buy the 845 MW Shepherds Flat Wind Farm in Oregon from Caithness Energy.
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Chicago-based investment bank Marathon Capital has established an outpost in Europe for the first time with a senior hire from Moelis & Co in London.
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Ares Management Corp has financed a contracted wind farm in Illinois that it acquired from a developer last year.
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Enel Green Power's Chilean subsidiary has begun the permitting process for a 200 MW (DC) solar asset in the country, bringing its under-development portfolio up to 798 MW.
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Brazil’s Ministry of Mines and Energy has announced further details on the country’s next two power auctions, which will be held this year.
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Spain’s Acciona signed an energy supply agreement with packaging company Winpack Group for its Chilean operations last year.
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South Korea's SK Group has agreed to invest $1.5 billion in hydrogen fuel cell manufacturer Plug Power.
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A developer has put a 1.05 GW solar-plus-storage platform on the auction block.
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Texas utility CenterPoint Energy has added former Calpine Corp and Talen Energy treasurer Stacey Peterson and investment banker Philip Holder to its senior finance team.
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PFR can reveal the identities of additional financial and legal advisers on The Blackstone Group's sale of a 50% stake in Onyx Renewable Partners and a 175 MW portfolio of commercial and industrial solar assets to SDCL Energy Efficiency Income Trust.
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Spain’s Grenergy Renovables has reached financial close on a debt package to fund a 130 MW solar portfolio in Chile.
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German asset manager MPC Capital has launched a renewable energy platform called MPC Energy Solutions, with capital raised through an equity placement.
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InterEnergy Group has acquired an operational wind farm and three renewable energy projects that are under development in the Dominican Republic.
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Brazil’s law firm Cescon Barrieu has appointed six partners located in its São Paulo, Rio de Janeiro and Belo Horizonte offices, with one dedicated to the energy sector.
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Brazil's Cemig has announced its intention to sell all the shares it holds in the Brazilian power generator and distributor Light at the same time as Light issues new shares through a capital raise.
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Three renewable energy developers signed loans toward the end of last year to fund pre-construction development activity, with most of the debt coming from non-bank lenders.
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In its latest round of battery storage procurement, Pacific Gas and Electric Co has awarded resource adequacy contracts to six lithium-ion projects in California totaling 387 MW.
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Details have emerged on PSEG Power's proposed sale of its 468 MW (DC) Solar Source portfolio.
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Lightsource BP is in the process of financing a solar project in Texas on the basis of a proxy generation power purchase agreement.
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A developer headquartered in France is seeking equity partners to take a stake in a solar project that has been selected to replace the output of the San Juan Generating Station coal-fired plant in New Mexico.
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Trinergy, the Chilean subsidiary of Swiss-German company Tritec-Intervento, is developing a 9 MW solar project in the country.
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Chilean investment firm Rockville Capital has raised $147 million to acquire 28 small-scale solar projects in the country.
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Petrobras has signed a sale agreement for its stake in three wind farms with V2I Transmissão de Energia Elétrica, an investment vehicle of Vinci Infraestrutura, part of the asset manager Vinci Partners.
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Eletronorte, a subsidiary of Brazil's Eletrobras, has issued a request for proposals for a consultancy to help the company evaluate the sale of its stake in Norte Brasil Transmissora de Energia (NBTE).
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As we heave a collective sigh of relief at finally putting 2020 behind us, let’s take a moment to reflect on the past 12 months through the lens of Power Finance & Risk’s most read stories of the year.
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Canada's Distributed Power Partners has begun the permitting process for a small-scale solar project in Chile.
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Colombia's Grupo Energia Bogota has expressed an interest in buying a stake in Interconexión Electrica (ISA) that is currently owned by the state.
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Mexico's state-owned Comisión Federal de Electricidad (CFE) has said it will reduce the amount of renewable power injected into the grid after blaming intermittent generation sources for an outage on December 28.
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Renewable energy advisory firm TortoiseEcofin has floated its first open-ended fund on the London stock exchange – Ecofin US Renewables Infrastructure Trust.
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Brazilian solar developer Sol do Sertão Holding has closed a R$100 million ($19.2 million) bank loan to finance its solar SPVs located in the state of Bahia.
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Spanish law firm Cuatrecasas, pursuing growth in Latin America, has hired nine partners in Chile, Mexico, and Colombia, three of whom will work on deals in the energy sector.
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Chile's National Electric Coordinator (NEC) has launched tenders for 59 small transmission projects that expand existing substations and transmission lines in the country.
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Enel Green Power has requested permission to enlarge the scope of a solar project in Chile and add a battery storage unit.
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US-based EIG Global Energy Partners is exiting its investment in the Brazilian section of the Bolivia-Brazil natural gas pipeline known as Gasbol.
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Clearway Energy Group has closed a $427 million construction loan for its 354 MW Mesquite Sky wind project in Texas.
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Renewables developer sPower reached financial close on its Luna Storage battery project in Lancaster, California, at the end of last year with a deal that demonstrates the ability of lenders to get comfortable underwriting standalone storage projects over longer lifespans.
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German developer PNE has appointed Karl Dahlstrom as CEO of its US subsidiary following the retirement of Ron Flax-Davidson at the end of 2020.
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Pattern Energy has closed the financing for its Western Spirit transmission line and wind project portfolio in New Mexico.
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Engie Chile has signed a supply agreement with Chilean healthcare firm UC Christus to supply three of its medical facilities with a total of 30 GWh per year.
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FTI Consulting has hired a structured finance executive from Banco Sabadell to lead the firm's corporate finance and restructuring division.
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Brazil’s Mines and Energy Ministry is set to resume power auctions in 2021, having skipped 2020.
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AES Gener has begun the permitting process for a 266 MW wind farm in the Chilean region of Coquimbo.
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Siemens Gamesa has signed an agreement with Brazil's Essentia Energia to supply the turbines for its 465 MW São Vitor wind farm in the northeast of the country.
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Global Infrastructure Partners has announced its acquisition of the US renewable energy business of fund manager MAP Energy, which includes a seasoned portfolio of wind and solar royalty investments.
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Brazilian power generator and distributor Light has reached an exclusivity agreement to sell a stake in a portfolio of small hydro plants to Brasal Energia as part of a plan to divest non-core assets,
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London-based fund manager Sustainable Development Capital (SDC) has acquired an additional 15% stake in Primary Energy Recycling Corp, a portfolio of waste-heat-to-power and cogeneration projects supplying steel mills in the Midwest.
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AES Corp's energy storage solutions provider Fluence has won a $125 million equity investment from the Qatar Investment Authority.
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InterEnergy Group has issued $262.664 million in project bonds to refinance its two renewable energy assets in Panama, where it is the largest renewable power producer.
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AES Gener has launched its long-planned $300 million capital increase to fund the development of its 1.6 GW wind, solar, and battery portfolio in Chile and Colombia, while it brings forward the retirement of its coal-fired assets in Chile.
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Independent power producer Sonnedix has acquired 40 MW of small-scale solar projects in Chile from Italy's Building Energy Andes.
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German asset manager MPC Capital is preparing to grow its Salvadorian renewable portfolio from 6,4 MW (DC) to 50 MW (DC) by 2022.
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London-based fund manager Sustainable Development Capital has agreed to acquire four commercial and industrial solar portfolios totaling more than 175 MW from Onyx Renewable Partners, as well as a 50% stake in Onyx's follow-on pipeline, which is expected to exceed 500 MW over the next 5 years.
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Spain’s Grupo Ibereólica has begun the permitting process for a 793.6 MW wind project in the Chile's Antofagasta region.
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Brazil's Geradora de Energia do Amazonas (GERA Amazonas) has awarded a contract to Wärtsilä to convert a diesel-fueled power plant in the country to running on natural gas.
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Enel Green Power’s subsidiary in Peru is progressing with the development of a 108 MW wind farm expansion in the country.
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An Enel Green Power executive has been chosen to become Enel Generación Chile’s general manager after the previous staffer resigned.
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Chile’s National Energy Commission (NEC) has launched a power auction that will take place in 2021, after postponing it for a year.
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Spanish developer Grenergy Renovables has signed its first power purchase agreement in Colombia, with local energy company Celsia.
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The founder of Brazil's Renova Energia has sold his shares to his partner and is leaving the company.
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Clearway Energy Group has identified Hannon Armstrong Sustainable Infrastructure Capital as the co-investor – alongside yield company Clearway Energy – in a 1.6 GW portfolio of wind, solar and solar-plus storage assets.
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The identity of one of the investors on a $560 million private placement issued earlier this year to refinance a hydro project in Louisiana has been revealed.
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Enel Green Power Guatemala has launched a trading company to sell its renewable electricity to large customers in the country.
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8minute Solar Energy has upsized a $225 million letter of credit facility that it secured earlier this year to $350 million, with funds from a trio of new lenders.
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Italy's Enel has approved the merger of Enel Green Power's renewable energy businesses in Central and South America – other than those in Chile – into its Chilean-listed subsidiary Enel Americas.
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A 50% stake in a natural gas pipeline and storage developer in the Northeastern US is up for sale.
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Independent power producer Sonnedix has bought a 150 MW (DC) solar project in the Chilean region of O'Higgins, making this its fourth-largest solar asset in the country.
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IDB Invest has agreed to finance the installation of distributed solar projects on some of Companhia de Saneamento Básico do Estado de São Paulo (Sabesp's) water treatment plants.
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AES Corp has approved a corporate reorganization of its Brazilian assets, which will include the creation of a holding company called AES Brasil Energia, and the merger of that company with AES Tietê.
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The federal tax credits for solar, wind and carbon capture projects could be extended as part of a $900 billion bipartisan Covid-19 relief bill that congressional leaders unveiled on December 20.
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Fengate Asset Management has acquired a majority interest in a 250 MW wind project in Texas, which has tax equity in place from Berkshire Hathaway Energy and GE Energy Financial Services.
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A distributed generation shop has launched a tax equity raise for a portfolio of community solar projects in New York state.
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Germany’s ABO wind has sold two contracted, ready-to-build solar assets in Argentina to a European buyer.
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Peru's development institution Corporación Financiera de Desarrollo (COFIDE) has secured a line of credit from the European Investment Bank to finance renewable and energy efficiency projects in the country.
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The European Investment Bank and Latin American development bank CAF have signed an agreement to invest in infrastructure projects, including energy assets, in Latin America and the Caribbean.
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In the only auction held by Brazil’s power regulator Aneel in 2020, the bidding for transmission lines has ended with all 11 lots being awarded.
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Apex Clean Energy has secured a $200 million senior secured loan from a family office investor group.
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Christmas has come early for a number of offtakers, including NextEra Energy Resources and online retailer Amazon, who have snagged some sizeable offtake arrangements ahead of the holidays.
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Glenfarne Group, through its LatAm subsidiary Enfragen, has secured $1.76 billion in debt to refinance its Latin American generation portfolio at the holdco level and fund the firm’s expansion in the region.
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A tight bank club has closed financing for one of North America's largest district energy systems, after the sponsor abandoned a sale process earlier this year.
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Spain’s Avalon Renovables is moving forward with a 9 MW solar park in Chile – its first in the country.
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A group of rural power co-ops have held São Paulo’s first auction to buy electricity directly from Brazil’s free market.
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Solar developer Solek is adding a 10.65 MW (DC) solar unit to its small-scale pipeline in Chile, bringing its total capacity to 152.02 MW (DC).
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Invenergy has sold a 500 MW development-stage wind and solar portfolio in Montana to a Houston-based energy storage company.
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Con Edison Development has closed the sale of a shovel-ready, 25 MW battery storage project in Texas.
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German utility Uniper has appointed a new North American head of power and gas trading.
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France’s Neoen has brought online a large solar-plus-storage project in El Salvador – its second solar asset in the country – with DFI funding.
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Law firm DLA Piper has recruited a Latin America-focused partner from Baker McKenzie to take up the title of regional head of banking and finance.
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Paris-based infrastructure investor Ardian has hired a managing director in New York.
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Battery storage company Leclanché has begun construction on a solar-plus-storage project located on the Caribbean island of St Kitts, after securing financing over the summer.
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Nashville-based utility-scale solar developer Silicon Ranch Corp has raised $225 million of fresh equity capital.
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Algonquin Power & Utilities Corp is planning to purchase a solar project in Virginia that it already owns a stake in.
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Colombian power company Grupo Interconexión Eléctrica (ISA) is considering making a bid for the Kimal-Lo Aguirre transmission project in Chile, as part of its $2.2 billion investment strategy in the country.
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Enel Green Power's subsidiary in Brazil has begun construction on a 1.3 GW wind and solar portfolio in the country.
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Voltalia subsidiary Helexia has signed a 20-year power supply agreement with Vivo, a mobile phone network owned by Telefonica Brasil.
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Michael Gee, a senior managing director who recently left CoBank's project finance team in Denver, has surfaced in a new role.
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Avangrid Renewables has filed a construction and operations plan with the Bureau of Ocean Energy Management (BOEM) for its Kitty Hawk Offshore Wind Project, which will be located off the coast of Virginia and the Carolinas.
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Spain’s Elecnor is moving forward with the development of a 50 MW wind farm, after being granted the concession of a site in La Guajira, Colombia.
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Atlantica Sustainable Infrastructure has agreed to purchase a 20 MW solar plant in Colombia, its first investment in the country.
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Further details have emerged on Glenfarne Group's $1.76 billion deal to refinance its Latin American generation portfolio at the holdco level and fund its expansion in the region through its LatAm subsidiary Enfragen.
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Tokyo Gas America has secured tax equity financing for its enormous debut solar project in the US, namely the 500 MW Aktina facility in Texas.
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A bank trio has closed a $323 million refinancing for the Coso Geothermal portfolio in Southern California, which has been owned by a group of former creditors since 2017.
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Brazil’s Omega Geração has closed the acquisition of a 50% stake in two wind assets totaling 182.6 MW from EDF Renewables.
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Online retailer Amazon has signed power purchase agreements with Engie for several wind and solar projects in the US as part of a larger deal that also encompasses European projects.
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Norwegian firms Scatec Solar, Equinor and Norsk Hydro have agreed to develop a 480 MW solar project in Brazil.
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Iberdrola’s subsidiary in Brazil, Neoenergia, has signed a 12-year power purchase agreement with telecommunications company Claro Brasil.
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Southern California Edison has awarded power purchase agreements to a quartet of energy storage projects totaling 590 MW.
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Glenfarne Group, through its LatAm subsidiary Enfragen, has secured $1.76 billion in debt to refinance its Latin American generation portfolio at the holdco level and fund the firm’s expansion in the region.
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Brazil’s development bank BNDES has approved a debt package for a 90 MW solar complex owned by Spain’s Powertis, the second this fall.
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AES Corp has promoted the head of its Brazilian subsidiary to a new regional role and filled his place with another elevation from within.
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Irish developer Mainstream Renewable Power has hired a seasoned executive to fill the newly created CFO position for Latin America after several years of growth for the company in the region.
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Sempra Energy has signed both an equity agreement and debt financing to fund the addition of liquefaction facilities to the Energia Costa Azul LNG terminal located in Baja California, Mexico.
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Sidewalk Infrastructure Partners has invested in virtual power plant company OhmConnect and committed funds to a 550 MW distributed generation project it is developing in California.
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Exelon Generation Co has struck an $810 million deal to sell its solar business to an affiliate of Brookfield Renewable Partners.
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7X Energy has secured tax equity from Swiss chocolatier Nestlé and debt from a group of six banks for its 250 MW Taygete I solar project in Pecos County, Texas.
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Spanish companies ACS and Solarpack have emerged as the winning bidders for wind and solar contracts in Ecuador following a 16-month-long competitive process.
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A trio of investors led by EnCap Investments has acquired a stake in a newly formed solar developer based in Texas.
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Iberdrola's Brazilian power company Neoenergia has won a privatization auction for regional electricity distributor Companhia Energetica de Brasilia Distribuição.
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Engie North America has partnered with Hannon Armstrong to jointly invest in a 70 MW portfolio of distributed solar and solar-plus-storage assets in the US through what Engie describes as a "unique" upper-tier partnership.
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The $860 million term loan B refinancing for a portfolio of gas-fired assets in Queens, New York, was priced and allocated on December 4.
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Updated: Foundation Solar Partners, the solar development firm set up by three former Cypress Creek Renewables officials last year, has clinched a series of sales of pre-construction projects in recent months.
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British power producer ContourGlobal is seeking to establish a foothold in the US and the Caribbean with the acquisition of a 1.5 GW portfolio of gas-fired assets, including combined-heat-and-power plants.
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Residential solar finance company and securitization issuer Mosaic has refreshed its leadership team, with the appointment of a new CFO as well as a deputy chief credit officer and general counsel.
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A bank trio is close to wrapping a debt package for a portfolio of geothermal assets in California that has been owned by a group of former creditors since 2017.
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Peruvian power supplier Atria Energia has hired Natacha Patiño as a commercial manager in Peru.
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Morgan Stanley's former global head of commodities trading is set to join Citadel.
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Invenergy is close to wrapping construction debt totaling $1.8 billion for three wind farms in Oklahoma.
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Total Eren has brought online a 50.4 MW wind farm in Argentina, making it the second renewable energy project to be commissioned in the country by the French independent power producer.
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IDB Invest has provided a $25 million loan to Peru’s Banco Interamericano de Finanzas (BanBid) to finance renewable energy assets in the country.
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IDB Invest, the private sector arm of the Inter-American Development Bank, has approved a debt package to fund construction of a 14.8 MW hydro project in Honduras.
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The past week’s power purchase announcements reflect some of the latest trends in renewable energy procurement, from community choice aggregators signing solar-plus-storage deals to large utility customers opting into green tariffs.
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Finnish renewables developer Taaleri Energia is marketing a 25% stake in its 336 MW Escalade wind project in Texas.
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Public Service Enterprise Group (PSEG) has agreed to acquire a 25% stake in Ørsted North America's 1,100 MW Ocean Wind project, which will be built 15 miles off the coast of Atlantic City, New Jersey.
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The US offshore wind industry is on the cusp of lift-off. To discuss the path forward, PFR and McDermott Will & Emery brought together a group of professionals at the forefront.
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Offshore wind developer US Wind has hired former Deepwater Wind boss Jeff Grybowski as its new CEO.
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Brazilian mining company Vale has announced a 766 MW (DC) solar project called Sol do Cerrado in Jaíba in the state of Minas Gerais.
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Investec has launched a $147 million senior secured debt offering to finance the construction of a small-scale LNG facility in Florida.
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Invenergy subsidiary Tealov has signed a concession agreement with Uruguay’s state-owned Administración Nacional de Usinas y Trasmisiones Eléctricas (UTE) for the development and ownership of a transmission project.
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Chicago-based developer Invenergy has hired a vice president to act as the company's country manager for Mexico.
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Sempra Energy has announced plans to simplify its North American energy infrastructure subsidiaries by launching Sempra Infrastructure Partners a business platform that will combine Sempra LNG and Mexico's IEnova, and sell a non-controlling stake in the new entity in early 2021.
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Boralex has bought Caisse de dépôt et placement du Québec out of its stake in a 296 MW portfolio of three wind projects in Québec, becoming their sole owner.
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AES Gener is set to request permission from its board for a $300 million capital hike to finance the development of its 1.6 GW renewable energy pipeline in Chile and Colombia, having reassessed its need for equity earlier this year.
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Brazil’s Omega Geração has concluded the acquisition of wind assets from Eletrobras called Chuí Complex, which comprises the 420 MW Santa Vitória do Palmar Complex and the 180.8MW Hermenegildo Complex.
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Mexico has announced that eight energy projects will be part of its second infrastructure investment plan, including combined-cycle gas-fired projects, gas pipelines, compression stations and an LNG export terminal.
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Exelon Corp has launched a $750 million term loan B offering to refinance a portfolio of renewable assets in the US.
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Enel Green Power's subsidiary in Panama has inked a 10-year power supply agreement with Ciudad del Saber, a private entity that promotes innovation and research in the country.
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Brazilian gasoline and biofuel distributor BR Distribuidora has acquired 70% of Targus Energia, marking its entry into the electricity business.
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French power producer Total Eren has reached financial close on its first wind assets in Brazil.
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Chilean developer Orion Power has begun the permitting process for a small-scale solar asset in the Chilean region of Valparaiso.
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Two local subsidiaries of AES Corp in El Salvador have brought online a 5.2 MW (DC) solar park, marking its fourth project in the country.
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The Latin American subsidiary of France’s Engie has increased its stake in its Chilean affiliate Engie Energia Chile (EECL) by 7.23%.
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CVE Chile has closed junior facilities with a major US investor to finance operational and under-construction solar plants in the country as part of its long-term strategy.
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BNDES has approved financing for six wind farms at Jerusalem Wind Complex as well as associated transmission systems in the municipalities of Lajes, Pedro Avelino and Pedra Preta, in Rio Grande do Norte.
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Brazil’s power regulator Aneel has jump-started the first transmission line auction to be held in 2021.
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Brazil’s power regulator Aneel has launched a public consultation for the power auction that will select projects to supply isolated systems that are not connected to the national grid.
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Chilean firm Energia Llaima has signed a four-year energy supply agreement with household products company Compañías CIC to power its plants in Santiago and Chillán.
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Apollo Global Management's latest energy transition and sustainability-focused blank check company has raised $300 million with its initial public offering, $50 million more than expected.
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Since entering the US market in 2019 with the acquisition of a pipeline of projects in California and Texas, SB Energy – the renewables division of SoftBank – has put together a string of project finance deals including a loan to finance late-stage development.
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Independent power producer Sonnedix has acquired a 160 MW solar project in the Chilean region of O'Higgins.
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AES Corp has changed the name of its Brazilian subsidiary from AES Tietê to AES Brasil after solidifying its grip on the company earlier this year.
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Boralex is buying Caisse de dépôt et placement du Québec out of its stake in a 296 MW portfolio of three wind projects in Québec to become their sole owner.
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Nautilus Solar Energy has signed a tax equity commitment with an investment bank for a portfolio of 14 community solar projects in four US states.
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Vesper Energy, the renewables development platform that was recently acquired and rebranded by Magnetar Capital, has signed a letter of credit facility to fund development activity.
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Leeward Renewable Energy has reached financial close on the tax equity financing of its Sweetwater 3 Wind Farm repowering project in Texas.
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Houston-based energy storage company Broad Reach Power has acquired its first asset in California, the Cascade Energy Storage Project, from Enel.
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Jorge Andres Tabares has left Empresas Públicas de Medellín after five years of managing its finances as executive vice president of finance and investments.
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The conciliation hearing between Colombia's Empresas Públicas de Medellín (EPM) and the construction firms in charge of its 2.4 GW Ituango hydro project in the department of Antioquía has been postponed.
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A subsidiary of the Spanish conglomerate Activos en Renta Grupo Corporativo is developing a 471.29 MW (DC) solar project in the Chilean region of Antofagasta.
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The Abu Dhabi Future Energy Co, also known as Masdar, is working on a holding company financing to lever up its portfolio of renewable energy assets in the US.
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As several of the Latin American countries that used to be favorites for foreign investors have become less hospitable and stable in recent months, market participants are taking a fresh look at Colombia and the opportunities it offers in power and renewables.
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The International Finance Corp has partnered with Santander's subsidiary in Brazil to expand green financing in the country.
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Holland & Knight has hired two senior attorneys from rival firms and appointed one of them as chair of its energy and infrastructure M&A and finance team.
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Chinese sponsor Envision Energy has commissioned a 50 MW wind project in the Argentinian province of Buenos Aires.
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NRG Energy’s sale of a 35% stake in the 290 MW Agua Caliente solar project in Arizona to Clearway Energy has been revived after being cancelled during Pacific Gas & Electric’s restructuring.
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China's State Power Investment Corp has acquired Mexican developer and independent power producer Zuma Energia through its Hong Kong-based subsidiary China Power International Holding Limited.
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FirstEnergy Corp's lenders have signed waivers and amended the terms of its loans to cure compliance breaches stemming from the disclosure of a roughly $4 million payment that was uncovered as part of an internal bribery investigation.
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Actis portfolio company Atlas Renewable Energy is raising financing for the construction of a 359 MW solar project in Brazil.
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FirstEnergy Corp's lenders have signed waivers and amended the terms of its loans to cure compliance breaches stemming fromthe disclosure of a roughly $4 million payment in 2019 that was uncovered as part of an internal bribery investigation.
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The Brazilian state of Rio Grande do Sul is moving forward with the privatization of the distribution company that serves 26% of its territory.
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Norwegian energy company Equinor has appointed a bank to oversee the financing of the 816 MW Empire Wind project off the coast of New York, which it co-owns with BP.
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Chilean firm Grupo Transelec has begun the permitting process for a transmission project in the Chilean region of O'Higgins.
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Canadian Solar is preparing the launch of a fund in Brazil as part of a broader strategy to establish capital partnerships with investors worldwide.
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California's Pacific Gas & Electric Corp has selected Patti Poppe as its new CEO. She will be relocating to San Francisco at the end of the year from Jackson, Michigan, where she is currently chief executive of CMS Energy Corp.
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Chile’s Grupo AQM has begun the permitting process for a 36 MW wind farm in the Chilean region of Aysén.
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Australia's Lendlease has sold its US renewable energy business to hedge fund manager Magnetar Capital, which has rebranded the new portfolio company Vesper Energy.
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Updated: Spruce Finance has acquired two portfolios of residential solar projects, including all of NRG Energy's remaining residential solar assets.
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Astoria Energy, which owns two gas-fired assets in Queens, New York, is preparing a refinancing of its term loan B debt.
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The Brazilian subsidiary of China's CGN Energy has signed a five-year power purchase agreement for the output of a wind farm in the country with generation and trading company Bolt Energy.
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NRG Energy has priced a roughly $3.8 billion five-tranche bond offering – including the first ever sustainability-linked notes from a US issuer – to finance its acquisition of North American energy retailer Direct Energy.
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Spain’s Solaria Energía y Medio Ambiente has closed a deal with a development bank and an insurance company to refinance a pair of solar projects in Uruguay totaling 23 MW.
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A $3.9 billion five-tranche bond offering by NRG Energy to finance its acquisition of North American energy retailer Direct Energy is set to be priced later today, November 17.
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AES Corp has decided to merge its wholly-owned US renewable energy development businesses with sPower, the developer it co-owns with Alberta Investment Management Corp.
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Sempra Energy's subsidiaries IEnova and Sempra LNG have reached a final investment decision on the addition of liquefaction facilities to the Energía Costa Azul (ECA) LNG terminal in Mexico.
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Peruvian power supplier Atria Energia has hired Mauricio Caamaño as managing director in Chile.
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The Chilean subsidiary of Enel Green Power is developing a 163 MW solar park in Chile’s Antofagasta region, which will be part of the 2 GW renewable portfolio Enel aims to operate by 2022.
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Renewables developer Savion has signed a deal to sell a 20 MW contracted solar project in Virginia to Novis Renewables Holdings, a joint venture between Italy’s Falck Renewables and Eni.
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Brazilian state-controlled power company Furnas has awarded 15 contracts to solar and wind projects with a combined capacity of around 1 GW following an auction.
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Chile's Grupo Energy Lancuyen is adding a 9 MW solar unit to its PMGD (Pequeños Medios de Generación Distribuida) distributed generation portfolio in Chile.
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Renewable energy developer Apex Clean Energy has hired a former investment banker in a finance role.
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Interchile is grappling with high swap breakage costs in the run-up to its proposed refinancing of a Chilean transmission line in the bond market.
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Spain's Naturgy Energy has agreed to sell its stake in Chilean distribution company Compañía General de Electricidad to China's State Grid International Development.
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Battery storage asset manager Voltera has launched a request for proposals for merchant projects in three US markets with the aim of executing sale and purchase agreements next year.
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Latin America-focused financier Ivan Oliveros is leaving Jefferies after working at the firm for two-and-a-half years.
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Three bidders competing for the acquisition of Brookfield Infrastructure's district energy business, Enwave Energy Corp, have been identified.
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Chile’s National Energy Commission (NEC) has approved the terms for a power auction that will take place in 2021.
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Enel has scheduled a shareholder meeting for December 18 to approve the merger of Enel Green Power's renewable energy businesses in Central and South America – other than those in Chile – into its Chilean-listed subsidiary Enel Americas.
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Renewable energy developer sPower has mandated an arranger for the financing of its 100 MW/400 MWh Luna Storage standalone battery project in California.
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Latin American power producer Celsia has requested an up-to-$60 million credit line from IDB Invest to mitigate the impact of Covid-19 measures on its businesses in Colombia.
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Chile's Grupo Energy Lancuyen has begun the permitting process for a sixth small-scale solar asset in Chile.
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Glenfarne Group has assembled a group of banks to arrange a $1 billion to $1.2 billion holding company refinancing for its 1.4 GW portfolio of Latin American generation assets.
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Neoenergia, the Brazilian subsidiary of Iberdrola, will start the construction of a wind complex in the country three months earlier than planned.
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Spanish developer Solarpack and French investment fund manager Ardian have closed the refinancing of three solar projects in Peru.
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Greenbacker Capital Management has made a corporate-level investment in a developer of distributed solar projects in the US.
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Enel Green Power is developing a 26.24 MW solar project in Panama – its fifth in the country – to supply commercial and industrial clients.
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Colombia’s Ministry of Mines and Energy is plotting the launch of a second renewable power auction that would take place during the first half of 2021.
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A developer has mandated a commercial bank to structure a debt package for an 86 MW portfolio of small-scale solar projects in Chile.
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Brazil’s power regulator Aneel has approved the bidding documents for an auction of transmission lines scheduled for December 17.
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Brazil’s Evoltz is preparing to issue debentures totaling R$1 billion ($187 million) for its transmission line subsidiary Norte Brasil Transmissora de Energia.
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Grupo Ibereólica and Global Power Generation are moving forward with the financing for their 204 MW Cabo Leones II wind project in Chile.
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Blackstone portfolio company Fisterra Energy is planning to issue a $904 million project bond to refinance a combined-cycle gas-fired plant in Mexico.
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A newly established renewables developer is marketing a 60 MW portfolio of development-stage community solar projects in Upstate New York, close to the Canadian border.
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BlackRock Real Assets has bought the remaining 20% stake in Distributed Solar Development (DSD) that it did not already own from GE Renewable Energy.
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Arroyo Energy has refinanced a wind farm and a solar project in Chile with a $430 million seven-year loan package.
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Yield company Clearway Energy has signed an agreement to acquire a 160 MW wind repowering project in West Texas from its developer-sponsor Clearway Energy Group.
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Details have emerged of a $209 million term loan package that was executed in September to refinance a portfolio of three operational solar projects.
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Clearway Energy Group has offered its yield company, Clearway Energy, the opportunity to invest in a 1.6 GW renewable energy portfolio alongside a third party.
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Clearway Energy has paid $43.5 million to buy its sponsor-developer, Clearway Energy Group, out of a 286 MW portfolio of distributed solar assets.
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France's GreenYellow has brought online a solar park that will supply retail company Grupo Éxito in Colombia.
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Algonquin Power & Utilities Corp has closed the acquisition of Bermuda's sole electric utility, bringing to an end a process that began in June 2019.
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German asset manager MPC Capital has clinched a $10 million investment for its Caribbean and Central American renewable energy portfolio from funds managed by Royal Bank of Canada's Trinidad and Tobago branch.
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Chicago-based developer Invenergy is aiming to close construction loans totaling $1.8 billion for three wind farms in Oklahoma by the end of the year.
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AES Gener has inked an 18-year renewable energy supply agreement with copper mining firm Sierra Gorda SCM in Chile.
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Cypress Creek Renewables has closed an oversubscribed $200 million holdco loan to support its 1.6 GW operating utility-scale solar portfolio in the US.
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Portland General Electric is bringing in Jim Ajello as its new CFO as an internal investigation into recent trading losses rumbles on.
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Chile's Grupo Energy Lancuyen is adding a 9MW solar asset to its small-scale pipeline, bringing its capacity up to 39MW
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Citi's North American head of power trading, Naveen Arora, has left the firm after more than 10 years.
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After months of working on a green hydrogen plan, Chile's Ministry of Energy has revealed its national strategy to establish itself as the global leader in green hydrogen production and export.
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Argentina's wholesale power administrator Cammesa has set the dates for the final procurement process of the year in the country's renewable energy term market, MATER.
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French developer Cap Vert Energie is adding a fifth small-scale solar asset to its PMGD (Pequeños Medios de Generación Distribuida) development pipeline in Chile.
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Grupo Renovatio has launched the first private power auction in Colombia with the aim of awarding five- to 25-year power purchase agreements to renewable energy projects.
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Fortress Transportation and Infrastructure Investors is weighing the sale of its remaining 50.1% stake in the Long Ridge Energy Terminal combined-cycle project in Ohio, which is eventually expected to run on green hydrogen.
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NextEra Energy Partners (NEP) has signed its fourth convertible equity financing – a $1.1 billion deal – with a consortium of investors led by KKR & Co, which it says is the lowest-cost and longest-dated iteration of the unique financing structure yet.
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Brookfield Renewable Partners is looking to offload a roughly 500 MW portfolio of wind projects, including three in California that are in the process of being repowered.
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Thomas Brostrøm, the former chief executive of Ørsted’s North American offshore wind division, is preparing to take the helm of Shell’s global renewable generation team next year.
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Exelon Corp has appointed two investment banks as it considers whether to separate its generation business from its utilities.
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Enel Chile’s power distribution subsidiary, Enel Distribución, is preparing to separate its transmission assets into a new company called Enel Transmisión.
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Spanish developer OPDEnergy has closed the financing for a 17 MW portfolio of small-scale solar assets in Chile.
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East West Bank has hired a seasoned power and utilities investment banker in Dallas to act as a relationship manager for its project finance business.
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Project finance lawyer David Penna has rejoined Latham & Watkins as a partner after a year with the US International Development Finance Corporation.
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British fund manager Cubico Sustainable Investments has acquired its first transmission assets by taking a stake in Celsia’s Colombian portfolio through a newly formed vehicle called Caoba Inversiones.
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IDB Invest is preparing a debt package to finance the purchase of an LNG tanker and its conversion into a floating storage and regasification unit in El Salvador.
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Canadian Solar is moving forward with its first solar asset in Colombia after receiving approval from local indigenous communities.
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At least three developers or joint ventures submitted bids into New York’s latest offshore wind request for proposals by the October 20 deadline. Check out this and all of the past week's PPA news.
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Recent transactions in the US power and renewable energy sector lend credence to a recent report from Kroll Bond Rating Agency, which says that project finance borrowers and investors are exhibiting an increasing fondness for holding company debt.
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Utility holding company FirstEnergy Corp has fired its CEO and two other senior officials amid a high-profile bribery investigation in Ohio, shortly after guilty pleas were entered in federal court by two people who are not FirstEnergy employees.
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Colombia's Mines and Energy Planning Unit (UPME) has released the final tender documents for the LNG regasification project on Buenaventura Bay on the Colombian Pacific Coast.
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Australian asset manager AMP Capital has confirmed that it has received a non-binding public takeover offer from Ares Management Corp.
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Basalt Infrastructure Partners III has closed its first investment, acquiring a stake in a residential solar portfolio in the US.
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Bravos Energia has decided to suspend its private power auction in Mexico, a venture that has been in the works since 2019.
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Cypress Creek Renewables has bought out the tax equity investors in a 92 MW portfolio of solar projects in North Carolina and refinanced them with a loan arranged by BNP Paribas.
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With an unpredictable election looming, developers, financiers and would-be buyers of US renewable energy projects are carefully weighing the potential impact of a Joe Biden presidency as they try to reach decisions on M&A and financing transactions.
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Solar developer Solek expects to begin construction in January on a 10.52 MW (DC) solar asset in the Chilean region of Ñuble, having received regulatory approval for the project.
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Ørsted has acquired a 298 MW wind project in Nebraska that it intends to bring online in the fourth quarter of 2021.
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Grupo Renovatio, through its subsidiary Renovatio Trading Americas, is preparing the first private power auction in Colombia, with the intent to procure 20 GWh per month from renewable assets.
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Brazil is preparing to hold power generation and transmission line auctions between now and the end of 2022 that will require investments totaling R$88 billion ($16.6 billion), according to power regulator Aneel’s director-general Andre Pepitone.
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Skyline Renewables has acquired its first US solar asset – a 250 MW project in Texas that has been financed with construction debt from a group of five lenders.
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Mexican developers have won legal reprieves against measures taken in spring by grid operator Cenace, which had halted the interconnection of wind and solar projects.
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Chilean independent power producer Energia Latina (Enlasa) is developing a small-scale solar-plus-storage asset in the region of Coquimbo.
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Further details have emerged on Atlas Renewable Energy’s financing of its 187 MW (DC) solar project in Brazil.
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Electricity and natural gas provider DTE Energy Co said on October 27 that it plans to spin off its pipelines business, DTE Midstream, into a separate publicly traded entity by mid-2021.
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Chile's National Electric Coordinator (NEC) has launched the procurement process for the Kimal-Lo Aguirre transmission project, which will connect the north and the center of the country's grid.
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Grupo Renovatio, through its subsidiary Renovatio Trading Americas, is preparing the first private power auction in Colombia, with the aim of procuring 20 GWh per month from renewable assets.
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DIF Infrastructure VI has reached a €3.03 billion ($3.5bn) final close after increasing its hard cap.
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Brazil’s power regulator Aneel has approved the bidding documents for a power auction for existing projects.
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Brazilian development bank BNDES has approved financing totaling more than R$1.1 billion ($196 million) for the construction of two solar projects.
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Cypress Creek Renewables is on the verge of wrapping an oversubscribed $200 million holdco financing to support its 1.6 GW operating utility-scale solar portfolio.
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Atlas Renewable Energy has revealed the details of the financing for a 187 MW (DC) solar project it is developing in Brazil.
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Chilean firm Grupo Transelec has begun the permitting process for two transmission projects, having won contracts for them in February.
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Key Capture Energy is working with a trio of lenders on the roughly $100 million financing of a portfolio of six energy storage projects in Texas.
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A subsidiary of Engie in Brazil has suspended construction on a transmission line because of a judicial decision.
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Atlas Renewable Energy, the Latin American renewable energy portfolio company of private equity firm Actis, has pushed back financial close for a 444 MW (DC) solar asset in Mexico.
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At least three developers or joint ventures submitted bids into New York’s latest offshore wind request for proposals by the October 20 deadline.
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Czech solar developer Solek has added a 10.66 MW (DC) solar facility to its small-scale solar pipeline in Chile, which will now total 98.9 MW (DC).
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Engie Energia Chile, a subsidiary of France's Engie, has signed a four-year renewable energy supply agreement with Chilean wastewater treatment firm Tratacal.
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After a government intervention, one unsuccessful auction, non-payment issues and sporadic service problems, Colombian utility Electricaribe was successfully reprivatized as two separate companies on October 1, raising the prospect of similar processes in the near future.
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Energy storage firm Highview Power and backup power specialist Energia Latina (Enlasa) have entered into a joint venture agreement to develop large cryogenic energy storage projects in Latin America, starting with Chile.
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The Inter-American Development Bank's private sector investment branch, IDB Invest, has made a $5 million equity investment in an off-grid rural solar firm in Latin America.
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Atlas Renewable Energy has reached financial close on a 187 MW (DC) solar project in the Brazilian state of Bahia with debt arranged by two lenders.
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Enel Americas has appointed two investment banks to advise on the process of integrating Enel Green Power's renewable energy businesses in Central and South America, other than in Chile.
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Brazilian national development bank BNDES has agreed to finance the expansion of a biogas plant owned by Geo Eletrica Tamboara in the state of Parana.
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Colombia's government is moving forward with eight infrastructure projects to ensure natural gas supply in the country, after releasing a plan earlier this month.
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An energy storage developer is working with a syndicate of banks on a loan for a portfolio of projects in Texas.
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Details have emerged on GenOn Energy's oversubscribed term loan refinancing for a pair of gas-fired assets in California.
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Caithness Energy has launched a refinancing of holding company debt for a combined-cycle gas-fired plant in New York.
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After Panama's Empresa de Transmisión Eléctrica awarded a contract for a transmission project in September, rival bidders have questioned the legitimacy of the process, which is under review.
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Chilean firm Ampra Ingenieria has begun the permitting process for a 318.2 MW (DC) solar park in the region of Tarapaca.
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EDF Renewables North America has closed the acquisition of a 4.5 GW pipeline of solar projects originated by Geenex Solar in PJM Interconnection.
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Panama’s state-owned power company Empresa de Transmisión Eléctrica (ETESA) is preparing to launch a renewable procurement process in response to delays in the construction of other generation assets.
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Kayne Anderson Capital Advisors’ debut solar investment as a sponsor, the Harts Mill project in North Carolina, will sell its output to a non-utility offtaker under a 15-year power purchase agreement.
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AES Gener recently began construction on a wind farm and a solar-plus-storage project that will incorporate the largest lithium battery storage unit in Latin America.
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Spain’s Diverxia Infrastructure has begun the permitting process for a 199.5 MW solar project in Colombia’s Atlántico department.
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Chilean solar developer Cielpanel has received approval from Chile's Environmental Evaluation Service to move forward with the development of two small-scale solar projects in Chile.
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Reden Development Chile, a subsidiary of France’s Reden Group, has secured financing from Natixis to fund the construction of a 100 MW portfolio of small-scale solar assets.
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A year after the Chilean government announced changes to the country's small-scale distributed generation scheme, the final bill was published on October 8, generating a rush among developers who seek to take advantage of the previous plan.
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A North American infrastructure investor was the winning bidder for Calpine Corp's 260 MW Freeport Energy Center in Texas, PFR has learned.
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US independent power producer Beowulf Energy has reached a deal with a Bitcoin mining company as part of its plans to build a cryptocurrency hub at the site of a coal-fired plant in Montana.
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Irish developer Mainstream Renewable Power has secured mezzanine financing for its 1.3 GW Andes Renovables solar and wind portfolio in Chile.
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Norsk Hydro and Golar LNG have announced the termination of a memorandum of understanding (MoU) signed in July of this year for LNG supply in Brazil.
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Transmission developers will be able to review bidding documents for a transmission line to connect the grids of Peru and Ecuador later this week when the Peruvian government makes them available on October 16.
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Lima-based renewables developer Atria Energia has promoted Fernando Vega to executive director, alongside Guillermo Cox, who has held the same position since 2019.
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Fortress Transportation and Infrastructure Investors has announced its intention to convert its recently financed Long Ridge Energy Terminal gas-fired project in Ohio to run on hydrogen, starting with a blend of natural gas and hydrogen as early as next year.
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Apollo Infrastructure Funds and Altius Renewable Royalties Corp have formed a joint venture to grow Great Bay Renewables, the renewable project royalty investment vehicle that Altius acquired last year.
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Czech solar developer Solek is adding a 10.66 MW (DC) small-scale asset to its development pipeline in Chile, bringing its total PMGD capacity under development to 88.24 MW (DC).
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After Covid-19-related delays, three developers and one consortium of investors have presented bids to develop two renewable projects in Ecuador totaling 310 MW.
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Bond-focused fund manager Pacific Investment Management Co (PIMCO) is the latest sponsor to back a low carbon blank check company, with former NRG Energy leader David Crane as chief executive.
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Brazil’s Eletrobras has concluded the sale of its stake in the 26 MW Mangue Seco 2 wind farm to the Tradener Group's FIP Pirineus fund.
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Pattern Development has launched a roughly $2 billion non-recourse debt financing for its Western Spirit wind and transmission portfolio in New Mexico.
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Trent Kososki, who was until recently a partner at Energy Capital Partners, has joined Stonepeak Infrastructure Partners as a managing director in Houston.
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Edward Veras has been appointed to replace Angel Canó as executive director of the Dominican Republic’s National Commission on Energy.
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Global Infrastructure Partners has executed a deal to sell Competitive Power Ventures to a consortium of Israeli investors after signing a non-binding term sheet with them in September.
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Details have emerged on the refinancing of a pair of contracted solar projects in Peru that are owned by Spanish developer Solarpack Corporación Tecnológica and French investment fund manager Ardian.
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Brazil’s Renova Energia has accepted an offer from the local private equity firm Prisma Capital for the acquisition of phase B of its Alto Sertão III wind project, potentially resolving uncertainty that dogged the project for years.
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Developer oEnergy has received approval from Chile's Environmental Evaluation Service to move forward with a small-scale solar project in the region of Maule.
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Spain's Grenergy Renovables has reached financial close on a 35 MW solar asset in the Mexican state of Guanajuato.
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In the world of project finance, power purchase agreements are usually considered from the point of view of the project owner or lender. But in the last few years, more attention has started to be paid to the other end of the contract.
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Engie’s Brazilian subsidiary is set to hold two auctions to procure renewable energy through long-term contracts in October after postponing the process by two weeks.
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Despite a hostile policy environment in Mexico for private investment in renewables, Canadian Solar, Korea Electric Power Corp (Kepco), and Sprott Korea have reached financial close on their jointly-owned 100 MW Tastiota solar project in the state of Sonora.
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Sunpin Solar has signed a power purchase agreement for its 70 MW Titan Solar project in Imperial County, California.
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Enel Green Power has started construction on a solar project in Antofagasta, Chile, that will require an investment of $164 million.
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The owner of a transmission project in Chile is looking to refinance it in the bond market, four years after the asset was originally financed by a club of banks.
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Engie Chile has signed a five-year energy supply agreement to provide packaging company Amcor’s operations in Santiago with renewable generation and natural gas.
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Siemens’ private equity arm Siemens Financial Services has acquired a 49% stake at the Brazilian solar distributed generation company Brasol.
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A battery storage company based in Boulder, Colorado, has launched the auction of a utility-scale project it is developing in Texas.
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Data management company Iron Mountain has layered additional hedge contracts onto virtual power purchase agreements that it signed with two wind farms in 2016 and 2017 as it seeks to mitigate various risks associated with the popular renewable energy contracts.
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Arroyo Energy has reached financial close on the refinancing of a gas-fired project in Mexico, a deal that was arranged by three banks.
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After reaching financial close on their Tastiota solar project, Canadian Solar, Korea Electric Power Corp and Sprott Korea are heading toward financial close on a follow-up deal for another solar asset in Sonora, Mexico.
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Eolus North America has found a buyer for a repowering project at the site of a 35-year-old wind farm in California, following an auction.
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Catherine MacGregor is set to take over as CEO of Engie in the new year, filling the gap left by the ouster of Isabelle Kocher in February.
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Chile's National Electric Coordinator (NEC) is structuring a procurement process for a transmission project connecting the north and center of the country's grid.
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Goldman Sachs Renewable Power has signed a deal to acquire a 300 MW solar project in California that will come with a 140.25 MW battery storage system.
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A senior project finance official has left solar developer Recurrent Energy for a new job at private equity fund manager ArcLight Capital Partners.
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Canadian Solar, Korea Electric Power Corp and Sprott Korea have reached financial close on their jointly-owned 100 MW Tastiota solar project in Mexico, bringing to an end a process that began in November 2019.
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Siemens and Macquarie have formed a joint venture called Calibrant Energy to provide on-site energy services to corporations, municipalities, schools, hospitals and other customers.
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AES Gener has decided to postpone a $500 million capital increase, the proceeds of which it had planned to use to fund its 1.6 GW solar and wind pipeline in Chile and Colombia, having raised the cash by other means.
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Chilean independent power producer Colbún has signed a six-year renewable power purchase agreement with Walmart Chile.
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Paul Colatrella, who departed from Capital Dynamics earlier this year, has secured a new job originating infrastructure debt investments at Fiera Private Debt.
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Italy's Enel Green Power and France's Engie have announced separate plans to develop the first green hydrogen production facilities in Chile.
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Jonathan Silver, who ran the US Department of Energy's loan program before setting up a boutique financial advisory firm focused on tax equity, has joined Guggenheim Securities as a senior adviser.
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Carnelian Energy Capital Management, a Texan private equity fund manager focusing on oil and gas, has raised $300 million for a blank check company targeting clean transportation and other alternative energy sub-sectors.
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DE Shaw Renewable Investments has broken ground on a pair of solar projects in Louisiana, having put in place a financing structure involving tax equity and back leverage.
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TerraForm Power has refinanced a portion of the debt it raised last year to acquire the 320 MW Arcadia portfolio of distributed solar and fuel cell assets from AltaGas.
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A key asset for opening up Brazil's natural gas market, the lease of Petrobras' Bahia liquefied natural gas (LNG) terminal has suffered a setback and will go on hold.
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Brookfield Renewable Partners has promoted its chief investment officer Connor Teskey to CEO, replacing Sachin Shah, who has moved into a senior role at the company’s financial sponsor Brookfield Asset Management.
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French infrastructure investment manager STOA has signed a new agreement with Voltalia for the acquisition of a stake in a wind farm in Brazil, after changing its mind about a previous deal struck with the developer.
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The board of community choice aggregator Clean Power Alliance has approved contracts for solar and storage capacity in California from projects being developed by Clearway Energy Group and NextEra Energy Resources.
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Chile’s Grupo Energy Lancuyen has begun the permitting process for a small-scale solar asset in the Chilean region of Maule.
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The sale of Electricaribe by the Colombian government, involving its division into two separate companies, closed on October 1, following a privatization process that began in 2017.
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Four years after winning power purchase agreements in the 2016 Chilean power auction, Irish developer Mainstream Renewable Power has closed the financing for the first and the second phase of its 1.3 GW Andes Renovables portfolio, leaving just one project still to finance.
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Starwood Property Trust has promoted a new co-president within its infrastructure lending team amid cuts to the business as the firm grapples with the fallout of the Covid-19 pandemic.
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Spain's Acciona is investing $170 million in a 238 MW (DC) two-phase solar complex in Atacama, Chile.
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Trina Solar has picked EPC contractor Ventus Energia to build three small-scale solar assets totaling 15 MW in Chile.
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International conglomerate the Libra Group has broken into the Colombian renewable energy market with the purchase of a distributed generation developer.
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One of the Canadian oil and gas producers providing a gas netback to support the financing of Competitive Power Ventures' 1,250 MW Three Rivers Energy Center in Illinois has been revealed.
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With two debt funds nearing final close, Global Infrastructure Partners has provided a $325 million secured term loan for Mexican power producer Saavi Energia.
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Statkraft’s Brazilian subsidiary is considering issuing debentures locally to fund the construction of its recently-announced 519 MW Ventos de Santa Eugênia wind project.
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Argo Infrastructure Partners has mandated MUFG to lead a $750 million private placement to refinance a pair of gas-fired combined-cycle plants in Louisiana and Oklahoma.
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The Blackstone Group's 526 MW Frontera combined-cycle gas-fired plant in Texas is "vulnerable to a covenant breach" in the next six months as a result of a shaky power market and currency depreciation in Mexico, according to an S&P Global Ratings report.
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Apex Clean Energy has partnered with hydrogen fuel cell manufacturer Plug Power to develop a network of green hydrogen production facilities that will leverage Apex's development pipeline of renewable projects.
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A company established earlier this year with the aim of deploying cryptocurrency mining technology to solve power generators’ excess capacity problems is working on pilot projects after wrapping its seed funding.
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The refinancing of a pair of Arroyo Energy renewable projects in Chile is nearing financial close, after a six-month delay.
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More than three months after reaching financial close on a pair of renewable projects in Chile, OPDEnergy has received the proceeds of the loan.
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Statkraft’s Brazilian subsidiary has revealed plans to almost double the capacity of a two-phase wind farm it is developing in the country.
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Boston-based renewables developer Swift Current Energy has launched an auction for a 2.2. GW development-stage solar portfolio sprawling across five US states.
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A sixth financial institution is participating in the debt package for Mainstream Renewable Power's 630 MW second phase of its 1.3 GW Andes Renovables portfolio in Chile.
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AES Corp's Brazilian subsidiary AES Tietê is moving forward with the acquisition of a 420 MW wind portfolio from developer Casa dos Ventos.
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A group of municipal utilities in New England have signed a 25-year deal for the output of a portfolio of solar projects being developed by DE Shaw Renewable Investments.
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Matt Eastwick has returned to investment banking as a managing director at renewable energy and green chemistry boutique Javelin Capital.
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A battery storage company based in Boulder, Colorado, is preparing to launch an auction to find an investor for a utility-scale project it is developing in Texas.
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Solar-plus-storage is rapidly turning from an eye-catching rarity to an everyday occurrence, as the latest power purchase agreement announcements show.
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A solar developer is exploring the sale of a contracted community solar portfolio spread across two utility service territories in New York state.
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EDF Renewables has lined up a tax equity investor for its first wind project in Nebraska.
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Chilean firm Grupo Transelec has begun the permitting process for a large transmission project in Chile's Los Lagos region.
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A group of South Korean investors led by Korea Hydro & Nuclear Power has lined up an investment in solar projects totaling 13 MW in Chile.
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The term loan B to refinance the Linden Cogeneration plant in New Jersey has been priced inside initial price talk after generating strong demand.
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French fashion house Chanel has made its debut as a renewable energy tax equity investor in the US, just in time for Paris Fashion Week.
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PFR can reveal the identities of the local law firms that worked on the acquisition by Iberdrola’s Brazilian subsidiary Neoenergia of a 400 MW wind portfolio in the country.
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Latin American development bank CAF has secured a further €100 million ($116.4 million) from the French Development Agency (AFD)’s line of credit for green projects in LatAm, bringing the total raised by CAF in this way to €250 million ($291 million).
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ArcLight Capital Partners has joined the recent rush to launch special purpose acquisition companies, raising $250 million with ArcLight Clean Transition Corp.
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The sponsor behind a gas-fired peaker project in Texas has begun reaching out to lenders to arrange roughly $150 million in construction financing.
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France’s Langa International has closed an $85 million debt package from Natixis to fund the development of an up-to 140 MW (DC) 20-project portfolio of small-scale solar assets in Chile.
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Ammad Faisal is relocating to New York to run Marathon Capital’s office in the city jointly alongside co-head Gary Greenblatt, after the two investment bankers were promoted to senior managing director this summer.
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Several senior bankers in Starwood Property Trust's infrastructure credit business are being laid off as the company grapples with the fallout from the coronavirus pandemic, PFR has learned.
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Brazilian-Italian firm BI Energia is moving forward with plans to develop a 624 MW offshore wind project in Brazil, after signing a protocol of intentions with the government of the state of Rio Grande do Norte.
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Brazil’s BNDES has inked a $100 million debt package from Japan Bank for International Cooperation (JBIC) to fund the construction of a wind portfolio.
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A pair of sponsors are on the lookout for a tax equity investor for a 350 MW solar project they are developing together in Texas.
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The term loan refinancing for the Linden Cogeneration project in New Jersey has been resized from $950 million to $1 billion in response to strong interest from investors during syndication.
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Mexico's Comisión Federal de Electricidad has canceled the procurement processes for two transmission projects in the country that have been in the works since 2019.
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Brazilian power company Cemig has launched a request for proposals for wind projects that it intends to acquire to participate in the country's wholesale power market as well as power auctions scheduled for 2021.
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A solar and storage company backed by two private equity firms is embarking on a market roll-up strategy, having hired an official from Quinbrook Infrastructure Partners to lead the effort.
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Vivint Solar is back in the asset-backed securitization market, preparing a new deal two months after its merger with rival solar finance firm Sunrun was announced.
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Saygin Oytan, who joined engineering consultancy Arup to lead its US offshore wind practice earlier this year, has left the company to take up a senior role at developer Vineyard Wind.
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A New York-based distributed solar finance company is seeking $500 million in equity for a new platform that will include a portfolio of seasoned operating assets.
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Chilean sponsor Energy Focus is plotting the development of a 364 MW wind project in the country's O'Higgins region.
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Italian energy company Enel has begun the process of integrating its renewable energy businesses in Central and South America, other than in Chile, into its main Americas subsidiary, Enel Americas.
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Clearway Energy has priced a roughly $300 million private placement, adding a layer of holding company debt to a portfolio of contracted solar assets in the western US.
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Power purchase agreement counterparties come in all shapes and sizes these days, as evidenced over the past week, with deals announced involving a German consumer goods manufacturer, a community choice aggregator in California and a rural electric co-operative in Iowa.
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Japanese developer Eurus Energy has lined up financing for a 56 MW wind project in Baja California Sur, Mexico.
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Blackstone, through its credit investment platform GSO Capital Partner, has formed a new portfolio company called ClearGen to finance and own distributed and other sustainable energy infrastructure assets.
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IJGlobal’s famed Latin America conference took place virtually on September 15 and 16 this year, after the event originally scheduled for March in Miami had to be canceled due to the Covid-19 pandemic.
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The Carlyle Group has struck a deal to sell a gas-fired peaker in MISO back to Rockland Capital, just three years after buying it from the Texas-based fund manager.
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Czech solar developer Solek is branching out of distributed solar in Chile with its first utility-scale project in the country, a 96 MW (DC) asset in the region of Valparaiso.
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Brazil’s state-owned power company Cemig is set to launch a request for proposals of wind projects to acquire in the coming days.
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As developers phase out their coal-fired assets in Chile and replace them with renewable projects, sponsors' market shares could change, say attendees at IJLatam 2020, IJGlobal's Latin America energy and infrastructure conference.
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Despite Mexico's regulatory changes in the power market in the past few months, industry insiders claim that the market may have slowed down but is not closed.
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Chilean independent power producer Colbún has begun a search for investors to take an equity stake in its transmission subsidiary Colbún Transmisión or buy it entirely.
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Six companies have been awarded firm energy obligations for thermal and hydro plants in Colombia as a result of the reliability auctions that took place in September.
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AES Corp’s Chilean subsidiary, AES Gener, has signed a 10-year energy supply agreement with Teck Resources Limited’s Carmen de Andacollo (CdA) copper mine, the second deal between the two companies this year.
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Colombia's Isagen has awarded the EPC contract for what will be the country's second wind farm – a 20 MW project in La Guajira.
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The creditors of ArcLight Capital Partners’ Chief Power coal-fired portfolio in Pennsylvania are looking to foreclose on the assets after attempts to find a refinancing solution failed.
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M&A was undoubtedly dampened in the first half of 2020 not only by the global pandemic but also by sector-specific issues. However, deal makers are being kept on their toes by a rash of blank-check company filings, shifting utility and IPP strategies and outbreaks of investor activism.
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The US International Development Finance Corporation is considering deploying equity in Latin America, as it has done previously in other regions such as Southeast Asia.
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Julian Torres, who previously worked in RBC Capital Markets’ tax equity team for five years, has landed a senior position at a microgrid start-up.
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Power purchase contracts with non-utility corporate offtakers are growing in popularity in Latin America but remain an exception to the norm in project finance, said industry insiders at IJLatam 2020, IJGlobal's Latin America energy and infrastructure conference.
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Global Infrastructure Management has signed a non-binding term sheet with a potential buyer for its conventional and renewable energy development portfolio company Competitive Power Ventures.
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Colombia's Empresas Públicas de Medellín has received a $100 million payment from insurer Mapfre Seguros Generales de Colombia to cover contingency costs associated with construction problems with the 2.4 GW Ituango hydro project.
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Acciona has begun the permitting process for a 130.2 MW solar project in the Chilean region of Antofagasta, bringing the number of renewable energy projects the Spanish company is developing in the country to eight.
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Peruvian state agency Proinversión is preparing a procurement process for two transmission projects that will require a total investment of $50 million.
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BP has entered into an agreement to supply Microsoft Corp with renewable power around the world.
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The special purpose acquisition sector can’t get enough of the electric vehicle industry, and Qell Acquisition Corp wants to join the party, with intentions of raising $300 million to pursue a deal.
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Price talk has emerged on a term loan B refinancing for the 974 MW Linden Cogen project in New Jersey following a bank meeting last week.
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Enel Green Power is moving forward with the development of a 13.12 MW solar project in the Panamanian province of Coclé.
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Mauricio J. Claver-Carone was elected president of the Inter-American Development Bank (IDB) on September 12 during an electronic meeting of the bank’s board of governors, having been nominated by US President Donald Trump.
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Spanish developer Ingenostrum is aiming to begin construction on a 400 MW solar project in Colombia’s Atlántico department by the end of the year.
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WhiteWater Midstream has closed on a loan to lever up its stake in the 450-mile Whistler natural gas pipeline project in Texas.
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The developer of a 20 MW solar project in New York with a 25-year renewable energy credit contract began to market the asset to potential investors in August.
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Ardian Infrastructure has acquired a majority stake in a portfolio of battery storage projects developed by Enel X in Ontario.
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Chilean independent power producer Colbún has begun a search for investors to take an equity stake in its transmission subsidiary Colbún Transmisión or buy it entirely.
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Chile's National Energy Commission (NEC) has delayed a power auction that was previously scheduled for November 2020.
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Four years after a competitively-bid renewables auction in Chile, financings for projects that were awarded contracts continue to trickle through to financial close, with OPDEnergy among the last to cross the line.
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France’s Voltalia has signed a power purchase agreement with Brazilian utility company Copel for a 260 MW solar asset in the state of Rio Grande do Norte.
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The Norwegian and British oil companies Equinor and BP have entered into a strategic offshore wind partnership, as part of which BP will pay $1.1 billion to acquire a 50% non-operating stake in Equinor's Empire Wind and Beacon Wind projects located off the coasts of New York and Massachusetts.
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Panama’s state-owned transmission company Etesa is structuring a short-term procurement process this fall for a range of different kinds of power projects.
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Energy advisory firm and brokerage Karbone Capital Markets has hired a former Rubicon Capital Advisors banker as a managing director in New York.
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Brazil’s antitrust agency Cade has approved the acquisition by Omega Geração of a portfolio of wind assets from Eletrobras.
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An auction process was launched recently for a family-run natural gas and electric services provider that serves five states in the Northeast from headquarters in New York.
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Enel Green Power's subsidiary in Panama has signed a five-year power purchase agreement with state-owned financial institution Banco Nacional de Panamá (Banconal), following a competitive tender.
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Sempra Energy's Mexican subsidiary IEnova is preparing to issue up to $800 million in bonds as investors keep an eye on the country's sovereign credit rating.
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Irish developer Mainstream Renewable Power has appointed Paul Corrigan as CFO and Cameron Smith as head of its offshore business in a reshuffle following the promotion of Mary Quaney to group CEO.
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Ecuador’s Ministry of Energy and Non-Renewable Natural Resources is planning a procurement process for 200 MW of renewable energy assets.
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Peru’s second-largest transmission company, Consorcio Transmantaro (CTM), is planning to offer an additional $200 million of bonds under an existing series.
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Argentinian power company Central Puerto has issued $50 million in project bonds across two tranches to refinance the existing debt of two wind farms in the country.
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The owners of a cogeneration plant in New Jersey have appointed Jefferies as left lead on a term loan B refinancing to be launched later this week.
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Power Finance & Risk is pleased to announce the winners of its 17th Annual Deals and Firms of the Year Awards for the most impressive renewable energy and power project sponsors, lenders, advisers, investors and transactions of 2019.
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Irish developer Mainstream Renewable Power has reached financial close on Huemul, the 630 MW second phase of its 1.3 GW Andes Renovables portfolio in Chile.
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The Trump administration is fast-tracking environmental review processes for more than 70 infrastructure projects during the Covid-19 pandemic, including the Vineyard Wind offshore wind farm, the Gemini Solar Project and the Jordan Cove LNG terminal, as well as various onshore wind and solar projects and transmission lines.
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Brazil's AES Tietê and chemical firm Unipar Carbocloro have launched a joint venture to develop a 155 MW wind project in the Brazilian state of Bahia.
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French developer Cap Vert Energie is adding a fourth small-scale solar asset to its PMGD (Pequeños Medios de Generación Distribuida) pipeline in Chile.
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EDP Renewables has agreed to sell an 80% stake in a 563 MW US renewables portfolio to Canada's Connor, Clark & Lunn Infrastructure.
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Richard Ashby, who had been managing director and head of renewable power at Whitehall & Co since 2015, has left the boutique investment bank to pursue other opportunities in the energy transition.
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Sempra Energy’s Mexican subsidiary, IEnova, has appointed a new CFO after the previous one was promoted to another position within its parent company.
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Additional details have emerged on the financing for the 630 MW Huemul phase of Mainstream Renewable Power’s 1.3 GW Andes Renovables portfolio in Chile.
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Panama's Panasolar Group has issued $15 million in bonds in the local market to finance the development of solar projects.
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Independent power producer Sonnedix is moving forward with a 191.93 MW solar project in the Chilean region of Valparaiso after receiving approval from the country’s Environmental Evaluation Commission.
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Brazilian development bank BNDES has approved a R$37.5 million ($6.9 million) loan to wind turbine producer Aeris.
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Irish developer Mainstream Renewable Power has reached financial close for the second phase of its 1.3 GW Andes Renovables portfolio in Chile, the 630 MW Huemul portion.
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Gas Natural de Lima y Callao (Cálidda) has reached financial close on a $100 million loan that will fund the expansion of its gas distribution system in Lima and Peru's constitutional province of Callao.
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Brazil’s national agency of water transport Antaq has awarded a port terminal area that will receive investments for the construction of an LNG terminal and a power plant.
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A consortium of South Korean investors has agreed to purchase a combined 49.9% stake in an 852 MW US wind portfolio that is majority-owned by Brookfield Renewable.
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Chilean small-scale solar developer oEnergy is adding 12 MW (DC) of capacity to its distributed generation solar portfolio in Chile.
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Joint-sponsors Macquarie Capital, Kineticor Resource Corp and OPTrust have closed financing for their 900 MW Cascade combined-cycle gas-fired plant near Edson, Alberta, sealing almost C$1 billion in debt and bringing in two additional equity partners.
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For private placement investors, pandemic-related disruption created opportunities as well as headaches. To discuss this, PFR brought together a diverse panel to share their perspectives. Sponsored by Fitch Ratings and MUFG.
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Energy Capital Partners has struck a deal to sell a 40% stake in Terra-Gen – the New York-based renewables developer it has owned since 2015 – to Australian asset manager First State Investments.
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The new administration in the Dominican Republic has announced plans to update the regulatory framework for renewable energy to create a more favorable environment for private investors.
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CIBC has this week sealed three managing director hires – one in the UK and two in the US – significantly boosting its presence in the renewable energy space.
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Brazil's Companhia energética de São Paulo (CESP) has issued R$1.5 billion ($268 million) in debentures to refinance the 1.54 GW Porto Primavera hydro project in Parana.
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With the ground rules finally in place for the monetization of tax credits for carbon capture and sequestration, Enchant Energy has begun to test whether investors are ready to take the plunge, as it seeks equity partners for a $1.3 billion project located at the 847 MW San Juan coal-fired generation station in New Mexico.
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Chile's Celeo Redes has begun the permitting process for a large transmission project in the regions of Maule, Ñuble, and Biobío.
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Stonepeak Infrastructure Partners has recruited a seasoned renewable energy executive from a European infrastructure fund in New York.
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France’s Voltalia has sold a 28 MW ready-to-build wind asset in Brazil to Japanese construction company TODA Corp.
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Colombia's Interconexión Eléctrica, through its subsidiary ISA Peru, has completed the acquisition of a Peruvian transmission company from I Squared Capital.
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Chilean distribution and transmission company Grupo SAESA has signed an eight-year power purchase agreement for a portion of the output of the 210 MW Cerro Dominador concentrated solar thermal project in Chile.
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Iberdrola has signed a 15-year power purchase agreement with German pharmaceutical company Bayer's Mexican subsidiary.
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Cypress Creek Renewables is readying the launch of a $200 million holdco financing to support its 1.6 GW utility-scale solar operating platform.
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Five would-be bidders have prequalified to participate in the tender for a 14.8 MW (DC) solar project with a 40.9 MWh lithium-ion battery storage system on Ecuador's Galapagos Islands.
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Brazil's Omega Geração has signed a binding agreement to acquire 50% stakes in two wind assets totaling 182.6 MW from EDF Renewables.
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Portland General Electric has retained legal and other advisers as it reviews power trading after realizing $104 million in losses on “ill conceived” positions its power traders entered into this year.
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Solar developer Solek is adding a 10.65 MW (DC) small-scale solar asset to its solar portfolio in Chile, bringing its total capacity to 77.58 MW (DC).
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Competitive Power Ventures has reached financial close on its 1,250 MW Three Rivers combined-cycle gas-fired project in Illinois with equity from four co-investors and a combination of floating- and fixed-rate debt.
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Brazilian generation and transmission company Alupar Investimento has reached financial close on a debt package for a transmission project in Colombia, the first international project financing for a transmission line in the country.
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Spanish developer X-Elio has reached financial close on its second asset in Chile – a 58 MW (DC) solar park in the region of Antofagasta.
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The Carlyle Group and EIG Global Energy Partners’ deal to take ownership of Panda Power Funds’ Patriot and Liberty combined-cycle gas-fired plants in Pennsylvania ended years of speculation about the fate of the two plants. But the story did not end there, as the buyers launched the acquisition financing into a market roiled by coronavirus.
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Goldman Sachs Renewable Power has bought the 100 MW High Desert Solar project in California, which has a 50 MW/ 200 MWh battery storage component, from Middle River Power.
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Goldman Sachs’ alternative energy investing group has provided a $109.4 million preferred tax equity financing for a multi-state portfolio of solar and battery storage assets being developed by Duke Energy Renewables subsidiary REC Solar.
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Internal turmoil at Colombia's Empresas Públicas de Medellín over a proposed lawsuit against the construction companies in charge of its 2.4 GW Ituango hydro project could spell financial problems for the municipally-owned company.
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Spanish developer Solarpack Corporación Tecnológica and French investment fund manager Ardian are seeking to refinance a pair of contracted solar projects totaling 43.4 MW in Peru.
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Engie Energia Chile has begun the permitting process for a 204.6 MW wind farm in Antofagasta that will be only its second wind farm in the country.
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AES Colombia, a subsidiary of AES Gener, will build the 59 MW (DC) San Fernando solar park in Colombia's Meta department, which will be owned by Ecopetrol.
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The unusual market dynamics created by the pandemic have thrown some interesting names into the rankings of leading power and renewables project finance lead arrangers in North America for the first half of 2020.
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Brazilian state-owned energy company Companhia Paranaense de Energia (Copel) has signed power purchase agreements with wind and solar projects totaling 595 MW.
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Developers Solek and oEnergy have separately added two small-scale solar projects in the Chilean region of Maule to their existing project backlog.
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Jaime Gálvez Delgado has been appointed as deputy minister of mines and energy in Peru, replacing Augusto Cauti Barrantes, who had been at the position since May of last year.
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James Wright is stepping down from his role as managing director at HSBC, where he led the bank’s activities in renewable energy, encompassing M&A, debt financing and tax equity.
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Apollo Global Management has made a combined $265 million equity and convertible debt investment in Italian-owned offshore wind developer US Wind as part of a strategic partnership to finance a wind project off the coast of Ocean City, Maryland.
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Irish developer Mainstream Renewable Power is nearing financial close for the second phase of its 1.3 GW Andes Renovables portfolio in Chile, which is penciled for this month.
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GenOn Energy has selected leads for the refinancing of a pair of gas-fired assets in California, which it plans to launch next week.
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Residential solar company SunRun, which recently struck a deal to acquire its rival Vivint Solar, has closed an oversubscribed, seven-year term loan financing.
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The Puerto Rico Public Private Partnerships Authority and Puerto Rico Electric Power Authority (PREPA) have issued a request for quotation (RFQ) to operate, maintain and decommission 3.6 GW of base load generation plants.
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Colombia’s state-owned electric services company Interconexión Eléctrica (ISA) has issued its first ever green bond in the local market, raising Ps$300 billion ($79.7 million) to finance two transmission projects in the Caribbean.
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Andy Redinger and Dan Brown, managing directors at KeyBanc Capital Markets, discuss the surge in demand for US renewable energy assets and what global investors need to consider when evaluating opportunities in this sector.
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Greg Wolf, the former CEO of Leeward Renewable Energy, passed away on August 3. He was 50.
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In early June, Sempra Energy subsidiary IEnova reached financial close on a 376 MW four-project portfolio of solar assets in Mexico, even as the country's renewable energy sector grappled with delays, a hostile government and a financing environment that many considered impossible.
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AES Gener has begun the permitting process for an 862.5 MW project that will combine wind and solar technology in Chile’s Antofagasta region.
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Spain's OPDEnergy has reached financial close on a wind farm and a solar project in Chile, bringing to an end a process that began in November of last year.
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São Paulo’s metro administrator is preparing to contract out the construction of renewable generation on its facilities.
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A sale process for a 180 MW development-stage solar portfolio in Arizona was launched earlier this year.
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A project finance banker who previously focused on South America at ABN Amro has joined IDB Invest's infrastructure and energy team.
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Colombia's Grupo Energia de Bogota (GEB) has won the contract to develop a transmission project in the Caribbean region following a drawn-out tender process that was delayed six separate times.
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AES Panama Generation Holdings received more than $5 billion of orders on August 11 for a $1.38 billion bond that has been hailed as the largest international capital markets deal by a private sector issuer in Central America and the Caribbean.
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The Puerto Rico Electric Power Authority (PREPA) has appointed a new interim executive director after the resignation of Jose Ortiz.
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Colombia's Empresas Públicas de Medellín (EPM) says it is preparing to file a Ps$9 trillion ($2.38 billion) lawsuit against the construction firms in charge of its 2.4 GW Ituango hydro project in the department of Antioquía.
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The Delaware River Port Authority has signed a 20-year power purchase agreement with SunPower Corp for an estimated 22 MW from a mixture of roof-mounted solar panels and solar canopies over parking, storage and work areas.
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AES Tietê has acquired J. Malucelli Energia's 187 MW wind project portfolio for R$650 million ($122.2 million).
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China’s State Power Investment Corporation (SPIC) has entered into an agreement with Prumo to acquire a 33% stake in two LNG-to-power projects located in Brazil – GNA I and GNA II –which have a joint capacity of 3 GW.
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Recurrent Energy has reached financial close on its contracted 144 MW Pflugerville solar project in Texas.
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Gregory Wolf, the former CEO of Leeward Renewable Energy, passed away on August 3. He was 50.
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Chilean company Allibera Solar is planning to begin construction on a 9 MW solar project in the country in March of next year.
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Boralex has refinanced its 230 MW Niagara Region Wind Farm in Ontario, Canada, with an C$805 million debt package provided by a seven-strong syndicate of banks.
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Chile’s National Energy Commission (NEC) has decided to shrink the capacity that will be allocated in this year’s power auction.
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Colombian law firm Dentons Cardenas & Cardenas has appointed two partners with experience in oil and gas and project finance transactions.
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Brazil’s power regulator Aneel has approved the bidding documents for a transmission line auction which is scheduled for December 17.
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Ares Management Corp's 525 MW Aviator wind farm in Texas had to navigate some Covid-related turbulence, but the private equity firm was ultimately able bring on board a pair of very different buyers and land the deal safely last month.
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Argentina's Secretariat of Energy has pushed back the deadline to sign the last power purchase agreements awarded during the third round of its renewable procurement program, RenovAr.
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Apex Clean Energy has signed a power purchase agreement with Facebook for roughly 170 MW from a 300 MW wind project in Illinois.
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Spain's Ortiz Construcciones y Proyectos has requested an up-to-$20 million credit line from development finance institution IDB Invest to pay its suppliers in Panama, Colombia, and Mexico.
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Brazil’s Petrobras has qualified 12 companies to compete for the leasing of its LNG import terminal in the state of Bahia.
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Spain’s Grenergy Renovables has begun the permitting process for a 9 MW solar project in the Chilean region of Antofagasta.
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Senior project finance banker Ren Plastina has emerged in a new role at Crédit Industriel et Commercial in New York.
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First Solar has set a deadline for bids in the sale of its US project development business.
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Chile’s Environment Commission of the Chamber of Deputies is moving forward with a bill that seeks to prohibit the development and operation of coal-fired plants by 2025.
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Voltalia is building a fourth wind farm in its Brazilian cluster of Serra Branca in the state of Rio Grande do Norte.
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Fresh from a credit ratings boost, LNG terminal and gas-to-power project developer New Fortress Energy is looking to refinance its $800 million corporate term loan.
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Enel Green Power has inked a 10-year power purchase agreement with Guatemala's power distributor Comercializadora de Energia para el Desarrollo (CED), owned by food and energy conglomerate Grupo Magdalena.
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Brookfield Infrastructure is preparing to launch an auction for Enwave Energy Corp, a large-scale district energy platform spread across a number of major cities in North America.
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Brazilian renewable energy company Omega Geração has signed a binding offer to acquire a portfolio of wind farms totaling 582.8 MW from state-controlled Eletrobras.
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Brazilian-Italian company BI Energia is a step closer to building one of the first offshore wind farms in Brazil.
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Tonopah Solar Energy, the company that owns the troubled 110 MW Crescent Dunes concentrated solar project in Nye County, Nevada, has filed for Chapter 11 protection after reaching an agreement with its main creditor, the US Department of Energy.
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Colombia’s Empresas Públicas de Medellín (EPM) has begun the permitting process for a 100 MW hydro project in the department of Antioquía.
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France's GreenYellow, a subsidiary of supermarket chain Casino, is moving forward with a 12 MW (DC) solar project in Colombia – one of the 11 assets the company expects to develop by 2021.
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In July, PFR brought together CoBank's Brian Goldstein, Matthew Wade of IFM Investors, Clearway Energy Group's Johana Afenjar and Sean Yovan from Innergex Renewable Energy to look back on a tumultuous - and memorable - six months in the Midyear Review 2020 roundtable.
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In February, after outbidding several rivals in a competitive auction for the 570 MW Griffith Energy gas-fired project in Arizona, ArcLight Capital Partners was ready to put acquisition financing in place. Then the pandemic happened. Taryana Odayar reports.
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Bankers, developers, and institutional investors expect activity in power and renewable energy assets in Mexico to pick up in the fall after a pause brought about by the combined impact of the pandemic and political, regulatory and legal uncertainty.
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Chile's National Oil Company (ENAP) and Pecket Energy, a subsidiary of engineering firm Ingeniería Civil Vicente, are aiming to bring a 10.35 MW wind farm online in the country's southernmost region in August.
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Credit Suisse has combined its infrastructure, utilities and renewables group (GIUR) with its oil and gas group to form a new global investment banking team covering energy and infrastructure.
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Tokyo Gas America has stormed into the US solar market with the acquisition of a huge project in Texas from developer Hecate Energy.
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Ecuadorian generator Elecaustro is moving forward with the development of a 50 MW wind farm in the province of Loja after securing finance from a development finance institution.
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Independent power producer Sonnedix has inked a power purchase agreement with Chile’s copper mining company Collahuasi.
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Arroyo Energy is nearing financial close on the refinancing of a gas-fired project in Mexico, with two banks arranging the debt package.
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BNDES has agreed to sell a chunk of its stake in Brazilian generator AES Tietê Energia to the company's controlling shareholder AES Corp, ending a bidding war with Eneva.
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Singaporean commodities firm Trafigura is continuing with the build-out of its North American power and environmental products trading division after the person originally picked to lead the charge left the firm in May.
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Enel Chile has pushed back the commercial operations date for its 150 MW Los Cóndores hydro project as it prepares to pull the plug on its coal-fired assets.
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BP Energy Co has canceled the sale of a majority stake in a gas-fired cogeneration plant in the Midwest.
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Norway's state-owned power company Statkraft has signed an agreement to supply Norwegian fish food producer Skretting's operations in Chile with renewable energy.
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Brazil’s Eneva has improved its offer to acquire BNDES' stake in AES Tietê Energia after the Brazilian generation company's main shareholder, AES Corp, reportedly made a rival bid.
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Blackstone has put commercial and industrial-scale solar portfolio company Onyx Renewable Partners up for sale.
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Mexican state-owned utility Comisión Federal de Electricidad (CFE) has announced plans to increase its generation capacity by building and acquiring power plants, days after cancelling tenders for four gas-fired projects in the country.
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DEPCOM Power found a buyer for a 50 MW solar project in Louisiana in the form of a joint venture between a developer and a financial investor.
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AES Corp’s Chilean subsidiary AES Gener is moving forward with the development of the third and fourth phases of the Andes Solar complex in the Antofagasta region, which has a total capacity of more than 500 MW.
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The 1.2 GW Brazilian solar project recently acquired by Brookfield Renewable Partners was developed by the local subsidiary of Spanish developer Solatio.
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Austin-based energy infrastructure company WhiteWater Midstream is looking to back-lever its equity position in the 450-mile Whistler natural gas pipeline in Texas.
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Fluor was recently awarded a front-end engineering and design contract for a carbon capture project at the Elk Hills combined-cycle gas-fired plant in California, which is embroiled in oil and gas exploration company California Resources Corp’s (CRC) Chapter 11 restructuring process.
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The states of New York and New Jersey both made multiple-gigawatt offshore wind procurement announcements in the past week, as the sponsors behind previously awarded projects press on through a rough regulatory environment.
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EDF Renewables and a joint venture between 174 Power Global and KOMIPO America have each won a power purchase agreement from NV Energy for a solar-plus-storage project in Clark County, Nevada.
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Developers of gas-fired and wind projects were united in their fury and dismay last year when Ohio’s House of Representatives passed House Bill 6 – the state’s nuclear and coal bail-out bill. The recent bribery allegations only add fuel to the sense of righteous indignation.
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Chilean small-scale solar developer oEnergy is adding a further 12 MW (DC) of capacity to its distributed solar portfolio in Chile.
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Spanish infrastructure firm Ezentis has won an $8.2 million contract for transmission work related to three substations in Chile.
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Golar Power, a joint venture between Golar LNG and Stonepeak Infrastructure Partners, is planning to establish a partnership with Norsk Hydro to develop a liquified natural gas (LNG) terminal in the North of Brazil.
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Brazil’s Eneva has presented a new proposal to merge with AES Tietê Energia to the target's largest non-controlling shareholder, Brazilian development bank BNDES.
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Amid a slowdown in project financing in Mexico and a political environment hostile to renewable energy projects, Sempra Energy’s Mexican subsidiary IEnova managed to reach financial close on a 376 MW four-project portfolio of solar assets in the country with financing from a club of development finance institutions.
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Bravos Energía has pressed pause on its private power auction in Mexico, which was previously expected to come to an end by late May, while it tries to gauge the interest of prospective bidders.
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Spain's oil and gas company Repsol has acquired a 50% stake in a portfolio of Chilean wind and solar assets through a joint venture with Grupo Ibereólica Renovables.
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Despite obstacles caused by the Covid-19 pandemic, France's EDF Renewables and Spain's Grupo Ibereólica reached financial close in June on the refinancing and expansion of a jointly-owned operatonal wind project in Chile – albeit not in the form the deal was initially expected to take.
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The debt financing for Recurrent Energy’s next solar project in Texas is expected to close in the following week or two.
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Latin American development bank CAF and Italian development bank Cassa Depositi e Prestiti (CDP) have signed an agreement to launch a €100 million ($114.75 million) facility that will be partially used for energy projects in Latin America.
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Fluor recently won a front-end engineering design contract for a proposed carbon capture and storage project located at the site of the 550 MW Elk Hills Power Plant in California, which is embroiled in the recently initiated Chapter 11 restructuring of oil and gas exploration company California Resource Corp.
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Ecuador's Ministry of Energy and Non-renewable Natural Resources, led by the minister René Ortiz, has appointed a new deputy minister of power and renewable energy to replace the incumbent who had been at the position for just four months.
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The state of New York has announced a 2.5 GW offshore wind tender and a simultaneous 1.5 GW joint renewable energy procurement effort by two state agencies, which together represent the largest ever combined solicitations for renewable energy in the US.
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Brazilian wind developer Casa dos Ventos has closed a long-term power purchase agreement with South America’s largest battery producer, Grupo Moura.
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Chilean developer Blue Light Energy is working on 13 small-scale solar assets in Chile, which it expects to sell once the projects are ready to build.
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Several renewable energy and thermal power project developers made use of federal Paycheck Protection Program funding earlier this year, according to data released by the US Department of the Treasury on July 6.
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Battery storage developer and independent power producer Key Capture Energy has appointed advisers as it explores a formal sale process.
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Colombia’s Ministry of Mines and Energy and the country’s Mines and Energy Planning Unit (UPME) have appointed new officials, who assumed their positions on July 21.
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Sempra Energy’s Mexican subsidiary IEnova has reached financial close on a 376 MW four-project portfolio of solar assets in the country with financing from a club of development finance institutions
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Brazil is set to join the Asian Infrastructure Investment Bank (AIIB) as a founding member after the country's House of Representatives approved the agreement to join the multilateral institution, which now will be voted on by the Senate.
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Petrobras has sold its remaining 10% stake in the Transportadora Associada de Gás (TAG) pipeline network to Engie and Caisse de dépôt et placement du Québe – the same consortium that already owns the other 90%.
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Calpine Corp has taken first round bids in the auction of a combined-heat-and-power plant, after the sale process was initiated earlier this year.
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Chilean developer Biwo Renewables is further adding to its distributed solar development pipeline with a 12 MW (DC) project in the region of Valparaiso.
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Rafael Belaunde is Peru's new minister of mines and energy, the third representative to be appointed to the position since the beginning of the year.
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Developer sPower has completed construction financing for its 485 MW Spotsylvania solar project in Virginia – which will be the biggest US solar plant yet developed east of the Rocky Mountains.
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Colombia's Mines and Energy Planning Unit (UPME) has pushed back the procurement process for a transmission asset in the Caribbean region by two weeks – the sixth rescheduling since the tender was initially launched in January.
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Colombia has scheduled the auction to award the concession contract for its Pacific LNG Import Terminal for 2021.
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Copenhagen Infrastructure Partners has secured a hedge for a solar project it is developing in Ercot.
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Colombia's Ministry of Mines and Energy has approved two transmission projects that will be put out to tender shortly.
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New details have emerged on the size and beneficiaries of IDB Invest's credit line for Chilean power companies impacted by last year's power price freeze.
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Ares Management's Keith Derman, John Drake of Osaka Gas USA, and Daniel Englander from Panamint Capital take you through the latest trends in US gas-fired project finance on PFR's Thermal Power Roundtable 2020.
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Longroad Energy proved the viability of two relatively new solar offtake structures – the California community choice aggregator-backed power purchase agreement and the Texas solar hedge – when it financed and sold the 160 MW Little Bear and 300 MW Prospero projects over the course of the past year.
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DPP Holdings, the Chilean subsidiary of Canada’s Distributed Power Partners, has begun the permitting process for a 12.5 MW (DC) solar unit in the country’s Antofagasta region under the PMGD (Pequeños Medios de Generación Distribuida) distributed generation scheme.
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Mexico's state-owned Comisión Federal de Electricidad (CFE) has canceled the procurement processes for four power projects in the country that had been in the works since October of last year.
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US-based asset manager Castlelake plans to invest up to R5 billion ($926.8 million) in renewables in Brazil over the next five years through newly founded Brazilian subsidiary Ibitu Energia.
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Chilean law firm Barros & Errázuriz has promoted two senior associates to partner, boosting its financing, infrastructure and M&A practices.
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Mexico's Comisión Federal de Electricidad (CFE) is set to acquire Ps2 billion pesos worth of coal to operate two coal-fired plants in the country – an effort that deal watchers see as a part of the administration's strategy to maintain state-owned CFE's dominance in the power sector.
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Korea Electric Power Co (Kepco) and fund manager Sprott Korea are working toward financial close on a pair of solar projects in Mexico – a deal that was supposed to close in April.
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Brazilian law firm Mattos Filho has announced it will open a new office in the city of Campinas, in São Paulo state.
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Brilhante Transmissora de Energia, a Brazilian transmission joint venture between Cobra Group and Celeo Redes, has raised R200 million ($37.4 million) in debentures.
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The new owners of power distributor Electricaribe are expected to take possession of the firm before the end of September, putting an end to a reprivatization process that began in 2018.
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Developer Vive Energia is ready to bring online its 90 MW wind farm in Yucatan, almost three months after grid operator Cenace halted the interconnection of all wind and solar assets to the grid.
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Utility-scale solar and battery storage developer Hecate Energy is launching a corporate equity raise.
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Brazil will resume its power auctions, following the Ministry of Mines and Energy (MME) scheduling the A-1 auction for December 4 of this year, providing short-term contracts for existing projects.
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Chilean small-scale solar developer oEnergy has begun the permitting process for a 7.9 MW (DC) project in the metropolitan region of Santiago.
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Mexico’s state-owned Comisión Federal de Electricidad (CFE) has postponed the tender for a 25 MW geothermal power plant in the country.
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The sponsor of a combined-cycle gas-fired plant in Canada has reached out to banks for a nearly $1 billion project financing.
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Ecuador’s Ministry of Energy and Non-renewable Natural Resources has pushed back the procurement processes for two renewable projects in the country for the third time because of the Covid-19 pandemic.
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Brazil’s Ministry of Mines and Energy (MME) has determined a new timeline for transmission line auctions and redefined the assets on offer.
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After sifting through more than 100 nominations, Power Finance & Risk is pleased to announce the short lists for its 17th Annual Deal of the Year Awards.
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Mining conglomerate Grupo Mexico has been granted a temporary suspension of the increase in transmission fees for old self-supply contracts for its 74 MW wind project in Oaxaca.
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Japanese utility holding company Kansai Electric Power Co has signed a deal to acquire a minority stake in the Aviator Wind project in Texas, marking its first investment in US renewable energy.
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AES Corp will have to repurchase a portion of the bonds issued by its subsidiaries in the Dominican Republic to close the sale of the Itabo generation plant in the country.
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FinDev Canada, previously known as Development Finance Institute Canada (DFIC), is arranging a debt package to support lending to 270 MW of renewable energy projects in Latin America and the Caribbean.
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GenOn Energy has secured a refinancing for a gas-fired plant in Haverstraw, New York, and is close to selecting bank leads for another financing for a pair of gas-fired assets in California.
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Laurie Coben has left Evercore, where she led the power and utilities investment banking business as senior managing director, for a new job at rival Guggenheim Securities in New York.
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Residential solar company Sunrun, which recently struck a deal to acquire its rival Vivint Solar, is close to wrapping up a seven-year term loan it recently launched in the bank market.
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IDB Invest has arranged a debt package for Aristos Real Estate's American Industrial Park industrial complex in El Salvador to fund the development of self-generation solar assets.
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The Inter-American Development Bank (IDB) has named new country representatives in Peru and Mexico.
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Capital Dynamics has signed the latest of several strategic partnerships with Tenaska, acquiring a portfolio of 24 solar projects totaling 4.8 GW in the MISO and SERC power markets.
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Cox Energy America, a subsidiary of Spanish renewable energy developer Cox Energy, has debuted on Mexico’s Bolsa Institucional de Valores stock market.
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Fund manager Kayne Anderson Capital Advisors has gone public with its renewable energy investment strategy, having made a range of investments in solar assets in the second quarter of the year.
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Pine Gate Renewables has reached financial close on a 78.7 MW contracted solar project in North Carolina.
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US district energy company Vicinity Energy has begun executing its growth strategy with the purchase of an asset in West Virginia from Starwood Energy Group Global.
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Colombian utility Empresa Pública de Medellín is preparing a dollar-denominated corporate bond issuance – its first in 2020 and its sixth in international markets.
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Chilean developer Biwo Renewables has begun the permtting process for a 9 MW solar project in the region of Valparaíso.
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Kayne Anderson Capital Advisors has reached financial close on its first solar project as sponsor – the 112 MW Harts Mill project in Edgecombe County, North Carolina.
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Petrobras has started the binding phase of the sale of its remaining minority stake in the Nova Transportadora do Sudeste (NTS) natural gas pipeline network.
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Residential solar company Sunrun has signed a $3.2 billion all-stock deal to acquire its rival Vivint Solar.
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France’s Engie has transferred a hydro and a wind project owned by Engie Latam to its local subsidiary Engie Energía Chile (EECL).
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NextEra Energy Resources has launched separate sale processes for a pair of solar projects in Texas and Alabama that are expected to be online by the end of this year and next year, respectively.
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Independent power producer Colbún has signed a seven-year power purchase agreement with Chilean fishing company Camanchaca.
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Dominion Energy has struck a deal to sell its gas transmission and storage assets – including more than 7,700 miles of storage and transmission pipelines and about 900 billion cubic feet of storage – to Berkshire Hathaway Energy, in a transaction valued at nearly $10 billion.
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EDF Renewables has suspended the financing process of a wind project in Mexico amid economic and regulatory challenges and a dispute with local indigenous groups.
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Brazilian state-controlled power company Eletrobras could potentially raise R$14 billion ($2.59 billion) in an initial public offering planned by the government, according to the company’s president Wilson Ferreira Jr.
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Further details have emerged on a $15 million debt package provided by IDB Invest for a portfolio of residential solar projects in Mexico.
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The pace at which solar assets are being put on the market shows no sign of slowing down, as auctions for substantial portfolios of development-stage and operational assets continued to be launched in June.
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Engie has signed a deal to sell a 49% stake in a 2.3 GW portfolio of US wind and solar projects to Hannon Armstrong.
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Blue Light Energy, a Chilean solar developer, has begun the permitting process for two small-scale projects that are part of a 200 MW pipeline it is building in the country.
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The carbon capture and storage (CCS) industry has received detailed guidance on its section 45Q tax credits from the US Treasury Department and Internal Revenue Service, after a two-year wait. But with more clarity than ever on how the credits will work, traditional tax equity investors remain coy about whether they plan to leap into this potentially lucrative sector.
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Chile’s Ministry of National Assets has awarded concessions for territory in the country to eight renewable companies to develop a total of 2,614 MW across eleven projects.
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Brazilian development bank BNDES has approved a loan for a 63 MW wind farm developed by Casa dos Ventos in the state of Rio Grande do Norte.
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Brazilian power generator Eneva has admitted its renewed interest in making a merger offer to AES Tietê Energia.
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SMBC has shaken up its Latin America team in New York with a series of promotions following the departure of Isaac Deutsch earlier this year.
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Grupo Ibereólica and EDF Energies Nouvelles have reached financial close on a deal to fund the expansion of a jointly-owned wind asset in Chile.
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Private equity firm TPG plans to use a 1 GW solar portfolio it has acquired from Trina Solar as the foundation for a new renewables portfolio company called Matrix Renewables.
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Atlas Renewable Energy has signed a long-term power purchase agreement with chemical company Dow in Brazil.
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Recurrent Energy has identified a buyer for its 250 MW Maplewood solar project in Texas and is preparing to close construction financing.
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A Canadian independent power producer has refinanced a wind farm in Ontario.
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AES Corp has agreed to sell its stake in the Itabo generation complex in the Dominican Republic, which comprises coal-fired and gas-fired units in the Dominican Republic, to a local conglomerate.
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Mexico's Supreme Court has granted a temporary suspension of a restrictive government policy on renewable energy development in a case brought by competition authority Cofece.
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Residential solar finance company Mosaic’s foray into the recently reopened asset-backed securitization market was well received by investors, reaping a multiple-times oversubscribed order book, in part thanks to data that shows the pandemic having a limited impact on solar loans.
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A developer has launched the sale of 13 contracted solar projects totaling 275 MW in New York state.
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Gas Natural de Lima y Callao, also known as Cálidda, is working on an up-to-$100 million loan to fund the expansion of its gas distribution system in Lima and Peru's constitutional province of Callao.
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A subsidiary of a Fortune 100 energy company recently launched a sale process for a commercial and industrial solar development platform, including its 365 MW portfolio of operational and under-construction assets.
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IDB Invest has arranged a $15 million senior debt package for a portfolio of residential solar projects in Mexico.
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Chilean developer Saggitar has grown its small-scale solar pipeline with the addition of a 9 MW project to its development backlog.
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The identities of four tax equity investors participating in the financing of Idemitsu Renewables' (formerly Solar Frontier Americas) 110 MW Pioneer solar project in Colorado have been revealed.
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Details have emerged on the non-recourse holdco debt package arranged by Northland Power to finance its acquisition of Colombian distribution utility Empresa de Energía de Boyacá.
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AES Solutions Management has launched a 1 GW request for proposals for carbon-free generation assets in PJM Interconnection, with expressions of interest due on Friday, June 26.
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A developer has launched the sale of a seven-project utility-scale solar portfolio in Georgia and Maryland.
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Southwest Generation has circled financing in the private placement market for its acquisition of the 760 MW Mankato Energy Center combined-cycle gas-fired project in Minnesota.
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French developer Cap Vert Energie is adding a further 9 MW to its small-scale solar pipeline in Chile.
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Colombia has a new minister of mines and energy after the previous incumbent stepped down from the position on June 25.
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Chile's National Electric Coordinator (NEC) has awarded 18 small-scale transmission projects representing a combined investment of $57.5 million to six companies.
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Miner Anglo American has signed the largest long-term corporate power purchase agreement for renewables in Brazil with power producer Casa dos Ventos.
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Canada's Northland Power has signed an agreement for a C$465 million ($340.7 million) non-recourse holdco debt package to finance its acquisition of Colombian distribution utility Empresa de Energía de Boyacá (EBSA).
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In November 2019, Engie and Tokyo Gas reached financial close on the largest renewable portfolio in Mexico with government power purchase agreements. Seven months later, the assets are endangered by a raft of government policies, supposedly in response to the Covid-19 pandemic, but widely viewed as political.
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Engie Energía Chile has signed a 15-year power purchase agreement with steel company CAP Acero.
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Atlas Renewable Energy, the Latin America renewables portfolio company of private equity firm Actis, is developing a 577 MW solar park in the Chilean region of Antofagasta.
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IEnova and Saavi Energia are approaching financial close on their jointly developed 108 MW Sierra Juárez II wind farm in Baja California, northern Mexico.
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A former partner at a Mexican law firm has gone in-house as legal and regulatory compliance counsel at Northland Power in Mexico City.
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Sempra Energy has reached financial close on the sale of its Chilean assets to State Grid International Development, after announcing the agreement in October of last year.
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Details have emerged on the hedging arrangements for a seven-project utility-scale solar portfolio in Georgia and Maryland that was recently put up for sale.
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Canadian Solar has signed power purchase agreements with two companies in Brazil, Braskem and Copel Energia, for a combined 274 MW (DC) of solar capacity.
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Enel Green Power's Chilean subsidiary is moving forward with the development of the country's first hybrid wind and solar project.
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After denouncing Mexico's policy on permits for renewable energy projects in May, Mexico's competition authority Cofece has argued that it is unconstitutional in a lawsuit filed before the Supreme Court aimed at overturning the measure.
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Pacific Gas & Electric priced two tranches of high yield bonds and a term loan B last week, capping the initial financing for its exit from Chapter 11
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German renewable energy start-up Energy Kitchen is adding a 95.2 MW wind project with a battery storage system to its Chilean wind pipeline while it works on three other smaller-scale projects in the country.
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Talen Energy Corp is preparing to hand over two gas-fired projects in the Northeast to senior creditor Beal Bank through a Chapter 11 restructuring.
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Swedish battery storage manufacturer Azelio has signed a preliminary agreement to supply Mexican commercial and industrial renewable energy and energy efficiency company Citrus.
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Energia Sustentável do Brasil, a consortium of investors that owns the 3.75 GW Jirau hydro project in Brazil, has launched an auction for wind and solar generation.
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Chemical manufacturer Dow has signed contracts for renewable energy in Argentina and Brazil.
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A group of banks led by IDB Invest are about to launch a liquidity credit line to help Chilean power companies impacted by the freeze in power prices implemented at the end of 2019.
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Apex Clean Energy and Invenergy are the latest developers to kick off sale processes for solar projects this year, as would-be buyers evaluate a slew of renewable energy assets that have been put on the market in recent months.
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A developer has launched the sale of a portfolio of six utility-scale solar projects in Georgia and one in Maryland with a combined capacity of 428 MW.
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Evolugen (formerly Brookfield Renewable Canada) tested the limits of Canadian investors' appetite for delayed-draw private placements in November 2019, when it issued a dual-tranche project bond to refinance a 488 MW hydro portfolio in Ontario.
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Two developers have secured temporary legal protection against an increase in transmission fees for old self-supply contracts after the price rise was approved by Mexico’s Energy Regulatory Commission in late May.
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The anti-racism protests sparked by the death of George Floyd in Minneapolis have led, among other things, to increased recognition of Juneteenth, the anniversary of the emancipation of the last enslaved African Americans in the US.
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Details have emerged on a sale process that is underway for a roughly 150 MW portfolio of five contracted solar projects in North Carolina, the largest of which includes a battery storage system.
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German renewable energy start-up Energy Kitchen is developing a pair of wind farms totaling 33.6 MW in Chile's southern lake district.
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Colombia's Mines and Energy Planning Unit (UPME) has postponed the tender for a transmission project in the country's Caribbean region – the fifth delay for the procurement process.
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The government of Brazil is sticking to its guns, trying to push through the privatization of Eletrobras in this calendar year.
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Developers in Mexico presented bids on June 15 to participate in a tender for geothermal exploration and drilling projects in the country, which has been in the works since 2018.
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Apex Clean Energy has kicked off the marketing process for a solar farm in Texas, having secured an offtake contract in the past three months.
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The International Finance Corporation has appointed new regional managers for the Caribbean and Central America after Luc Grillet, who previously oversaw both regions, was promoted to a more senior position.
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Invenergy has launched the sale of a majority stake in a contracted 800 MW solar project in Texas.
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Ecuador's state-owned utility Ecuador Electric Corp has launched a procurement process for a 14.8 MW (DC) solar project with a battery storage unit on the Galapagos islands.
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Copenhagen Infrastructure Partners has reached first close on its fourth vintage fund with commitments totaling €1.5 billion ($1.69 billion).
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BNDESPar, the private investment arm of Brazilian development bank BNDES, has hired a financial adviser to assist with the sale of its stake in AES Tietê Energia.
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French energy company Engie has closed a R$2.51 billion ($485 million) loan with Brazilian development bank BNDES to finance the construction of its Novo Estado transmission line project.
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Henrik Poulsen is set to step down as CEO of Ørsted after eight transformative years with the company.
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Canada's Polaris Infrastructure is looking to enter the Panamanian power market with the acquisition of a 10 MW hydro plant from Navitas Holdings.
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The debt financing of Competitive Power Ventures' Three Rivers gas-fired combined-cycle plant in PJM Interconnection has been relaunched after being postponed earlier in the year.
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Zona Energía's private auction in Chile will benefit from a reform that bans Chile's power distribution companies from selling power to large consumers known as clientes libres or free clients.
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Pacific Gas & Electric priced part of its huge bankruptcy exit financing package on June 16, raising $8.925 billion in investment grade debt just days after receiving court approval for the transaction.
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An energy company is in the process of looking for an investor to take a majority stake in a gas-fired cogeneration plant in the Midwest.
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Petrobras and Wobben Windpower have entered the binding phase of the sale process of two jointly-owned wind assets in Brazil.
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The Dominican Republic’s National Commission on Energy (CNE) has awarded concessions for 100 MW across two power projects and a transmission line in the country.
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Residential solar, storage and energy services company Sunrun has launched a seven-year term loan into the bank market.
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Spanish developer 360 Clean Energy is laying the groundwork for a small-scale solar project in the Chilean region of Maule, under the PMGD (Pequeños Medios de Generación Distribuida) distributed generation scheme.
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Pacific Gas & Electric Co is preparing to raise $38 billion in debt – up from the $20 billion envisaged when it filed for Chapter 11 at the beginning of 2019 – as it wraps up its bankruptcy proceedings.
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Independent power producer Sonnedix has closed a project finance loan from Natixis to finance an up-to-100 MW (DC) portfolio of small-scale solar assets.
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Avangrid has named Sempra Energy stalwart Dennis Arriola as the successor to its outgoing CEO James Torgerson, who steps down on June 23, the day after the company's annual shareholder meeting.
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Chilean company Saggitar is moving forward with the development of a small-scale solar project that will qualify under the country's PMGD (Pequeños Medios de Generación Distribuida) distribution generation scheme.
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Mexico's Business Coordinating Council has hit back at transmission fee hikes by state-owned utility Comisión Federal de Electricidad (CFE), describing the policy as “illegal and inadmissible” and "indefensible."
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Brazilian state-controlled Companhia Paranaense de Energia (Copel) has signed a R$432.1 million ($87.94 million) loan to finance a portfolio of operational and under-construction transmission lines.
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Oil and gas company Shell is increasing its efforts to build solar projects in Brazil, registering a 10-project complex called Barnard Solar with a total capacity of 467 MW.
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When the Covid-19 pandemic hit the US, the securitization market slammed shut, prompting Vivint Solar to pivot away from a deal that was "on the cusp of closing" to alternative sources of liquidity. But as Vivint put the finishing touches to its Plan B, a window opened up for ABS issuance and other solar securitizers began piling in.
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The Carlyle Group's Hamilton Projects Acquiror term loan B to finance the acquisition of two gas-fired projects in Pennsylvania has been priced inside initial price thoughts – signaling lender enthusiasm for the almost 1.7 GW portfolio – and was allocated on June 11.
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Argentinian developer Central Puerto has begun selling generation from a wind project in Tucumán province to Swedish auto company Scania under a long-term power purchase agreement.
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Calpine Corp has closed a $1.1 billion refinancing for its 725 MW Geysers geothermal portfolio in Sonoma and Lake counties, California.
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An infrastructure and energy lawyer is among six attorneys recently promoted to partner by Brazilian law firm Mattos Filho.
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Market participants in Mexico say new transmission costs imposed on power projects approved before the 2014 Energy Reform – known as proyectos legados – will have a trickle-down effect in the sector harming the asset's developers, equity investors, lenders and off-takers.
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Alabama Power has received regulatory approval to proceed with the procurement of some 2 GW of gas-fired combined-cycle generation in the state, while approvals for solar and storage contracts languish.
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Chile’s economic development agency Corfo is launching a $39 million credit line for renewable energy and energy efficiency projects in the country.
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Sempra Energy aiming to close the previously announced sale of its Chilean assets to State Grid International Development on June 24.
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Copenhagen Infrastructure Partners is looking for a co-investor to take a stake in a contracted solar project that is under construction in Texas.
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Solar developer Solek is plotting a sixth small-scale solar project in Chile, adding 7 MW (DC) of capacity to its 49.27 MW (DC) portfolio.
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The Brazilian subsidiary of Chinese company CGN Energy plans to invest R$1 billion ($201.52 million) in the construction of a seven-phase wind project in the country.
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Mexico’s state-owned Comisión Federal de Electricidad (CFE) is planning a procurement process for a transmission project in the state of Baja California, adding to the country’s transmission pipeline.
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Boston-based developer Lightstar Renewables is working with a boutique advisory firm on the sale of a community solar portfolio in New York.
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A 2.4 GW portfolio of thermal generation assets located in PJM Interconnection has been put up for sale, amid prolonged uncertainty over the regional transmission operator's capacity market structure.
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Petrobras has issued a teaser for the sale of its stakes in five gas, oil, diesel-fired and small hydro plants in Brazil.
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The Inter-American Development Bank is arranging a $280 million debt package for Ecuador to diversify and improve the country’s energy matrix and boost renewable energy sources.
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IDB Invest has announced a plan to certify certain transmission line projects as "green" in order to attract additional investment into the sector.
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Canada's Polaris Infrastructure has closed a $27 million debt package from Brookfield Asset Management's Infrastructure Debt Fund for a portfolio of hydro projects in Peru.
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There were signs even before the outbreak of the Covid-19 pandemic that the dynamic of the market for renewable energy assets had shifted in favor of buyers, and the recent flurry of sale processes kicking off despite travel restrictions and lockdowns will have done nothing to tip the scales in the other direction
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Power Finance & Risk brought together experts to discuss energy storage, one of the hottest topics in the infrastructure investing and project finance world. If you are interested in the future of financing energy storage – and who isn’t? – you will not want to miss it.
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Spanish renewable energy developer Cox Energy has begun the regulatory process to list its Cox Energy Americas subsidiary on Mexico's Bolsa Institucional de Valores stock market.
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First Solar has picked two investment banks to act as financial advisers on the forthcoming sale of its US project development business.
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ArcLight Capital Partners has closed a $153.9 million debt package with a quartet of lenders to finance its acquisition of the 570 MW Griffith Energy gas-fired project in Mohave County, Arizona.
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Spain's OPDEnergy is nearing financial close on a pair of renewable energy assets in Chile, a process that began in November 2019.
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Canadian gold mining firm Soma Gold Corp has signed a power purchase agreement for the output of two small hydro projects in Colombia as a condition of its acquisition of a local mining business.
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Antin Infrastructure Partners made good on its commitment to grow its US presence at the end of last year with the $1.25 billion acquisition of Veolia’s District Energy Networks business in December. The French firm funded the purchase with a $770 million debt package that innovatively combined elements of corporate and project financing.
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The refinancing of a pair of Arroyo Energy renewable energy projects in Chile that was supposed to close in early April has still not been launched into syndication as due diligence continues.
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Spain’s Elawan Energy has inked an agreement with Brazil’s Secretariat of Economic Development (SDE) to develop a 16 MW wind farm in the Brazilian state of Bahia.
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Battery storage company Leclanché has secured construction financing for a 36.5 MW solar-plus-storage unit on the Caribbean island of St Kitts.
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Pacific Hydro, a renewable energy company with assets in Australia, Chile and Brazil, is looking to refinance corporate debt with a roughly $400 million loan.
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Vivint Solar has raised $545 million of debt across two transactions that it began working on earlier this year after nixing a solar securitization that was "on the cusp of closing" when the Covid-19 pandemic hit the US.
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An executive at EDF Renewables in Mexico has exited the company to be the executive director at a think tank in New York.
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Hanwha Group affiliate 174 Power Global has signed a 20-year power purchase agreement for a behind-the-meter solar project that will power a steel mill in Texas.
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Boston-based renewables developer Swift Current Energy has launched an auction for a wind project in central Texas.
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Colombian power producer Isagén is plotting the development of its first wind farm in the country, which would be Colombia's largest to date.
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The US subsidiary of a European developer has launched a sale process for a wind farm in Texas.
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Spain’s OPDEnergy has agreed to sell a majority stake in two solar parks in Mexico to Riverstone Holdings and is also planning to launch a joint venture with the asset management firm.
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Spain's Solarpack is planning to sell a 9 MW solar project that is under construction in the Chilean region of Maule.
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8minute Solar Energy has secured a $225 million letter of credit from a group of five banks to fund deposits for power purchase agreements and interconnections.
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RWE Renewables is whittling down a short list of bidders to take into the second round of its sale of ownership interests in a portfolio of wind assets in Texas.
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A solar developer has identified a buyer for the sale of structured equity interests in a 50 MW portfolio of distributed generation assets in California.
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Greenpeace and the Mexican Center for Environmental Law (CEMDA) have secured a temporary suspension of policies introduced by Mexican grid operator Cenace and the Secretariat of Energy (SENER) that threaten to delay the interconnection of renewable energy projects in the country.
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Spain's Acciona is developing a 43.2 MW wind farm in the Chilean region of La Araucanía – its seventh project in the country.
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Three major global energy and commodities firms announced venture capital-style investments in May, backing companies at the forefront of energy innovation.
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Grupo Bimbo has signed 15-year power purchase agreements with Argentinian developer Genneia to buy generation from three of its wind farms.
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Enel has brought forward the schedule for shuttering its two coal-fired units in Chile from 2024 to 2022.
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Colombian power distributor Electrificadora de Huila (Electrohuila) is preparing to begin construction on a 24.23-mile (39 km) transmission line in the southern state of Huila.
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A developer has launched the sale of a 100 MW portfolio of five contracted solar projects in North Carolina, the largest of which includes a battery storage system.
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EDF has received the green light to acquire up to 600 MW of wind projects in Brazil from developer PEC Energy, a subsidiary of Grupo Engeform.
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Mexico’s state-owned Comisión Federal de Electricidad (CFE) has launched a tender for a 25 MW geothermal project.
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Developers in Argentina have faced an inhospitable project finance market since 2018, but the country's leading wind developer Genneia has managed to finance no fewer than nine wind projects in the past two years, using creative structures including the company's first ECA-backed corporate loan.
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Argentinian independent power producer Stoneway Capital Corp has secured a forebearance agreement from its creditors, who had been discussing foreclosure in mid-March.
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Canadian renewable energy developer Saturn Power has obtained an operating permit for a 6 MW solar project in Bermuda.
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A project finance loan for an under-construction gas-fired peaker in Texas is said to be in syndication after closing earlier this month.
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Nashville-based utility-scale solar developer Silicon Ranch is looking to raise up to $300 million through the sale of a minority stake in the company.
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Developers rushing to complete renewable energy projects by the end of the year to qualify for tax credits while grappling with pandemic-related supply chain disruption can breathe a little easier after the Internal Revenue Service granted a deadline extension on May 27.
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Capital Dynamics is in talks with South Korean lenders for the financing of a standalone battery storage project in California that it is in the process of acquiring.
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HPS Investment Partners is exploring the sale of US residential solar finance company Spruce Finance.
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Recurrent Energy has approached the project finance market with a solar project it had previously come close to selling.
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The developer of a portfolio of gas-fired peaker plants in Texas is "pretty close" to finding equity for the assets from a financial sponsor, say deal watchers.
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Spanish conglomerate Activos en Renta Grupo Corporativo and Chilean developer Energías Renovables Saintec are in the process of permitting a 54.45 MW solar project in the country’s Atacama region.
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Panama's state-owned transmission company Empresa de Transmisión Eléctrica (Etesa) must reevaluate its proposed Fourth Line project (Cuarta Línea) on the Atlantic coast, after the country's Public Services Authority (ASEP) rejected its latest proposal.
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BlackRock has sold Fort Detrick Energy, which owns a central cogeneration facility at the US Army's Fort Detrick base in Frederick County, Maryland.
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The International Finance Corp has appointed Carlos Miguel López Leiria Pinto as general manager of its Brazil office after the previous incumbent took up a new role in Africa.
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A seasoned infrstructure investment official left Caisse de dépôt et placement du Québec (CDPQ) earlier this month to set up his own shop in Mexico City.
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Enel Green Power's distribution subsidiary in Chile, Enel Distribución, is negotiating a debt package with IDB Invest to ease its Covid-19-related liquidity problems.
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Uriel Renovables, the renewable branch of Spanish holding company Uriel Inversiones, is developing a small-scale solar project in the Chilean region of Ñuble
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Brazilian technology company Tivit has signed a contract to purchase power from Casa dos Ventos’ 504 MW Rio do Vento wind project in the Brazilian state of Rio Grande do Norte.
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While the big procurement news this week was the announcement of the winners in Pacific Gas & Electric’s latest round of battery storage procurement (see story, page 1), there were also several developments involving less high profile offtakers—municipalities and universities.
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German developer Notus Energy is working on a 168 MW wind farm in the Chilean region of Biobío.
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Colombia's Mines and Energy Planning Unit (UPME) has pushed back the procurement process for a transmission line in the country's Caribbean region by a month – it is the fourth delay since the coronavirus pandemic hit the country.
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Spain's Grenergy Renovables is planning to sell a five-project portfolio of solar projects totaling 52 MW in Chile.
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A Chilean developer is looking for an investor to acquire a majority stake in a 150 MW distributed generation portfolio in the country.
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Potentia Renewables, the wind and solar subsidiary of Power Corp of Canada, is bringing in seasoned project originator Matt Langley to lead its expansion into the US.
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Doug Egan, the co-founder and former CEO of Competitive Power Ventures, has passed away at the age of 63 after a long illness.
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Engie has signed loans with Brazilian development bank BNDES to finance the construction of two projects in Brazil, a wind farm and a transmission line.
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A group of renewable energy developers in Mexico have won a legal reprieve against grid operator Cenace' suspension of interconnections for wind and solar projects.
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A developer has received acquisition proposals for an operational portfolio of contracted, debt-financed commercial and industrial solar projects in the Midwest, as well as a pipeline of development-stage assets.
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Grupo Ibereólica and EDF Energies Nouvelles are nearing financial close on the refinancing and expansion of a jointly owned wind asset in Chile.
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Isaac Deutsch, who led Sumitomo Mitsui Banking Corp's Americas specialized finance division between 2012 and 2018 before becoming the firm's deputy Americas CEO, is said to have departed from the bank earlier this week.
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Sunenergy1 is working with two lenders on the financing of a portfolio of contracted solar projects that are in development in two US states.
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Eosol Energy, the renewable arm of Spain’s engineering company Grupo Eosol, is developing a 227.46 MW (DC) solar project in Chile.
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Canada’s Greenbriar Capital Corp has inked a power purchase and operating agreement for an up-to-160 MW solar project in Puerto Rico.
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Atlas Renewable Energy is negotiating an up to $90 million financing with IDB Invest to fund the expansion of its Juazeiro solar project in Brazil.
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Eneva has given up on its attempt to merge with AES Corp’s Brazilian subsidiary AES Tiete, at least for now.
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Sunnova has closed a $75 million tax equity investment, its second this year, and issued a $130 million convertible bond.
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Pacific Gas and Electric has awarded resource adequacy contracts to lithium-ion battery storage projects totaling 423 MW across California, with LS Power bagging almost half the capacity.
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Colombia’s Mines and Energy Planning Unit (UPME) is plotting a tender for the development of battery storage units and several substations on the country’s Caribbean coast.
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ConnectGen, a developer led by a group of former EDP Renewables North America staffers, has closed term financing for a solar portfolio it acquired from First Solar.
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Chile’s Verano Capital is working on a 90 MW solar park in Antofagasta, which is expected to require an investment of $90 million.
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Development finance institution IDB Invest is preparing a debt package for Naturgy Energy's distribution companies in Panama, which are facing liquidity problems as a result of the government's response to Covid-19.
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Petrobras has started the non-binding phase of the sale of its minority stake in natural gas pipeline network Nova Transportadora do Sudeste.
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Pattern Energy Group has found a buyer for a stake in a wind project that straddles state lines.
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EIG Global Energy Partners has reached final close at $1.1 billion on its EIG Global Project Fund V (GPF V), well in excess of its $750 million target.
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