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California Resources Corporation will combine with Aera Energy in an all-stock transaction valuing Aera around $2.1 billion.
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Canada’s Algonquin Power & Utilities Corp. has agreed to a new transaction price for its acquisition of American Electric Power's (AEP) utility subsidiary Kentucky Power and its transmission business AEP Kentucky Transco.
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The renewables platform of Brookfield Asset Management has splurged on the US renewable energy market with the addition of 2 new renewable platforms to its portfolio.
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Japanese conglomerate ORIX Corporation has invested in a 150MW Texan wind power farm via its US Strategic Solutions group – following up last year’s foray into US wind energy.
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Enbridge, the Canadian energy giant, has bolstered its position in North American renewables with the acquisition of Tri Global Energy (TGE) for $270 million in cash and assumed debt.
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Online retailer giant Amazon is expanding its renewable energy portfolio with the company's first renewable power purchase agreement (PPA) in South America.
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Greenbacker Renewable Energy Co has purchased a 54 MW wind project in Illinois from a national renewable energy project developer.
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EDF Renewables has agreed to sell a 50% stake in its Big Beau solar-plus-storage project located in California.
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Macquarie Capital’s head of infrastructure and energy finance in the Americas has left the firm to take up a senior position at the investment bank Evercore.
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Matrix Renewables has struck a deal with solar developer SolarStone Partners that will see the two companies collaborate on the development of a 4.6 GW US project pipeline.
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Slate Asset Management has entered into a strategic partnership with a Canadian renewables developer through the purchase of a minority stake in the platform.
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Energy company Terra-Gen has closed financing for the second phase of its mammoth Edwards Sanborn solar and storage project in California.
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Engie Brasil Energia has signed a share purchase and sale agreement that will see the company let go of its last coal-fired power plant in Brazil.
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Spearmint Energy, a newly-formed energy storage developer, has purchased a 150 MW battery storage project in Texas from a subsidiary of Con Edison Clean Energy Businesses, the company’s first ever asset acquisition.
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A senior managing director for Guggenheim Securities, Dean Keller, has left the financial institution to take up a role as a partner at a newly formed investment banking and financial advisory firm.
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Brazilian petrochemical company Unigel is starting construction of a green hydrogen and ammonia plant, the first in Brazil to reach that step.
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Cypress Creek Renewables has purchased a four-project portfolio of standalone energy storage projects totaling 400 MW in Texas from a local developer.
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Mitsubishi Power Americas has landed a $504.4 million financing from the US Department of Energy (DOE) for the development of what the company claims will be the largest hydrogen storage facility in the world.
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The US subsidiary of Japanese energy company JERA Co has agreed to purchase an over 1.6 GW portfolio of operational dual-fuel peaking plants in Massachusetts and Maine from a Stonepeak Infrastructure Partners fund.
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BNP Paribas’ co-head of energy and renewables investment banking in the US, Neil Davids, has left the French bank to take up a managing director role at CIBC.
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FDNE, a fund managed by the Superintendency for the Development of the Northeast (Sudene), is disbursing a R$698 million ($146 million) loan to finance wind projects in Brazil.
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Venture Global LNG has reached final investment decision and financial close on its $13.2 billion project financing for the Plaquemines LNG facility and related Gator Express pipeline.
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French energy company TotalEnergies has agreed to purchase a 50% stake in renewables developer Clearway Energy Group for $1.6 billion and a minority stake in SunPower Corp.
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K&L Gates has added a team of four energy-focused partners to its firm from Husch Blackwell, with three of the new partners joining K&L’s Kansas City, Missouri offices and one landing at the firm’s Austin, Texas office.
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After more than two years in the process, Stoneway Capital Corporation closed a restructuring deal under Chapter 11 and CBCA plans, which went effective May 17.
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A Durham, North Carolina-based developer has secured a $125 million letter of credit to support the company’s project development pipeline.
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Origis Energy has closed a $375 million credit facility to support the company’s solar and energy storage project pipeline.
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Caisse de dépôt et placement du Québec (CDPQ) has agreed to purchase Terna’s transmission portfolio, which is spread between Brazil, Peru and Uruguay.
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Law firm O’Melveny & Meyers has continued its expansion into Texas, after hiring three energy attorneys from Willkie Farr & Gallagher to launch a new office in Houston.
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French energy company TotalEnergies has acquired Austin-based Core Solar for an undisclosed amount.
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The European Investment Bank (EIB) and the Inter-American Development Bank (IDB) have signed a mutual reliance agreement, allowing the multilaterals to improve cooperation on climate-resilient infrastructure and energy projects in Latin America.
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Quinbrook Infrastructure Partners and its portfolio company Primergy Solar have closed the financing of the massive Gemini solar-plus-storage project.
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The New York Power Authority (NYPA) has received more than $608 million in green bonds to finance clean energy transmission in New York State.
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BBVA is set to open a new representative office in Santiago, five years after selling its Chilean operations to Scotiabank.
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Missouri-based coal producer Peabody Energy has launched a renewables development platform called R3 Renewables through which it plans to develop and acquire 3.3 GW of solar and 1.6 GW of energy storage capacity over the next five years.
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ArcLight Capital Partners has closed its acquisition of a 13-project, 6.75 GW portfolio of fossil fuel-fired assets spread across New Jersey, Maryland, Connecticut and New York from Public Service Enterprise Group (PSEG), after slotting into place two separate acquisition financing packages.
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German utility EnBW, which partnered with French oil and gas company TotalEnergies on one of the winning bids in last week's New York Bight offshore wind lease sale, has decided to sell its interest in the concession to its partner.
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The provisional winners of the Bureau of Ocean Energy Management’s (BOEM’s) New York Bight offshore wind auction have been revealed, concluding the highest-grossing competitive offshore wind area lease sale in US history.
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JP Morgan’s Infrastructure Investments Fund (IIF) has inked a deal to acquire South Jersey Industries (SJI) in a deal valued at $8.1 billion.
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Scott Zuchorski has been named global group head of infrastructure and project finance at Fitch Ratings, filling the role left by his predecessor Cherian George who retires at the end of February, while Greg Remec has been promoted to head of North America infrastructure.
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Innergex has completed a bought deal equity offering and a concurrent private placement to fund its purchase of a Chilean wind platform.
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Despite it being hardly two months into the new year, the M&A market for power and renewables is already heating up with a seemingly endless stream of project and platform sale launches. But despite the buzz around renewables, deal watchers say there is still a “bullish” buyer base that believes in the medium-term viability of gas-fired projects over the next two decades.
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KKR & Co has appointed former US Federal Energy Regulatory Commission (FERC) chairman Neil Chatterjee as an industry adviser.
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TotalEnergies has established a strategic partnership with Grupo Martí to develop energy transition projects in the Dominican Republic.
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Rayburn Electric County Coop, a Texas-based electric generation and transmission cooperative that suffered massive losses due to winter storm Uri last February, has closed a $908 million securitization.
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JP Morgan has launched a sale process for a wind farm in Texas that is the subject of litigation proceedings over its force majeure claim during winter storm Uri.
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Innergex has inked a deal to purchase a platform of newly-built wind projects in Chile, which would make it one of the largest renewables-focused independent power producers in the country.
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Axium Infrastructure has secured financing for its acquisition of a 49% stake in a roughly 1.4 GW portfolio of wind and solar projects in the US.
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The Biden administration has decided to draw out Trump-era solar tariffs for four more years, but is making an exception for bifacial solar panel technology, which has soured the outlook of some solar panel manufacturers but is considered a win for developers of solar projects.
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A Californian renewables developer is seeking equity and debt financing for a massive solar-plus-storage project that it is developing in Nevada.
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A pair of investment banks is preparing to kick off an auction process for a solar and energy storage developer soon.
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BlackRock Real Assets is planning to invest up to $200 million in a portfolio of renewable energy distributed generation projects in Chile.
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Several senior Cantor Fitzgerald power bankers who left the firm at the end of 2021 have launched a specialist investment banking platform focused on supporting the energy transition.
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Brookfield Renewable has bought utility-scale solar and energy storage developer Urban Grid and its pipeline of development-stage projects for $650 million.
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A Virginia-based energy company has wrapped acquisition financing for a portfolio of peaking power plants in Illinois.
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NextEra Energy has refreshed its senior leadership team as long-standing chairman and CEO Jim Robo prepares to step down.
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ContourGlobal has found a buyer for its Brazilian hydro business, which includes nine run-of-river hydro power plants totaling 168 MW of capacity.
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Amp Energy has secured a $50.5 million construction debt package for a portfolio of solar projects in central New York state.
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InterEnergy Group has refinanced a portfolio of small-scale solar and wind projects in Chile with a $48.2 million US private placement.
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Lightsource bp has wrapped a $97.8 million construction debt package for an 80 MW portfolio of solar projects in Pennsylvania, and a $533 million package for a pair of solar projects in Louisiana and Arkansas.
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Global Infrastructure Partners (GIP) has closed a $500 million investment in renewables-focused independent power producer BrightNight.
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The US Department of the Interior (DOI) has greenlit a lease sale in the New York Bight, marking the first offshore wind lease auction under the Biden administration.
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A private equity firm is arranging an amend-and-extend deal on the project finance loan associated with its gas-fired project in Rhode Island.
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A Houston-based private equity firm has emerged as the stalking horse bidder for a pair of gas-fired peaking power plants in Texas.
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Baker Botts has hired veteran project finance attorney Dino Barajas as a partner in its global projects department based out of Los Angeles.
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Irradiant Partners and Pine Gate Renewables have closed financing on a pair of solar projects totaling 40 MW in Michigan.
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The AES Corporation has announced its acquisition of solar developer Community Energy Solar.
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Starwood Energy Group has agreed to purchase an outstanding 40% share in a 262 MW coal-fired plant it co-owns with Atlantic Power.
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Citi has hired a new global co-head of power, utilities and renewables from Barclays following the departure of Jack Paris this summer.
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Czech solar developer Solek has inked the sale of a thirteen-project solar portfolio that will qualify under Chile’s PMGD (Pequeños Medios de Generación Distribuida) distributed generation scheme.
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A sale process for a distributed generation solar and storage platform is entering its second round, with additional bids due at the end of January.
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A consortium led by InterEnergy has reached financial close on a debt package that will finance a 656 MW LNG-to-power project in Panama.
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A winning bidder has emerged for a Macquarie Capital’s solar and energy storage development platform, Savion.
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A ProEnergy subsidiary has secured a project finance deal to support a 288 MW gas-fired peaking power plant in Texas.
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Investment firm KKR & Co has launched a new platform that will source, develop and operate utility-scale solar plants and storage facilities.
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A consortium led by Colombia's Interconexion Electrica (ISA) has presented the best offer for the procurement process of the Kimal-Lo-Aguirre transmission project, which will connect the northern and central regions of Chile's grid.
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An ArcLight Capital Partners’ subsidiary has reached financial close on its acquisition of NRG Energy’s fossil fuel-fired generation fleet, as well as on the financing to support the deal.
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Canadian developer BW Solar has found a buyer for a 1.3 GW/1.62 GWh portfolio of development-stage solar and storage projects spanning 11 states.
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Generation Bridge II, a subsidiary of ArcLight Capital Partners, has launched acquisition financing for the New York- and Connecticut-based fossil fuel assets it purchased from Public Service Enterprise Group (PSEG).
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Grupo Argos-owned Celsia has issued green bonds to finance the development of its solar pipeline in Colombia.
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NextEra Energy has agreed to sell a 50% stake in a 2,520 MW portfolio of renewable energy assets to the Ontario Teacher’s Pension Plan (OTPP).
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Rockland Capital is arranging acquisition financing for a pair of gas-fired peaking power plants in Texas that it is purchasing from a sponsor that recently filed for Chapter 11 bankruptcy protection.
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Warburg Pincus-backed distributed generation and microgrid start-up Scale Microgrid Solutions (SMS) has committed up to $55 million to finance and acquire a portfolio of development-stage community solar projects in New York City.
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General Electric (GE) has outlined plans to spin off its renewable energy and power businesses into a publicly traded company.
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In a deal that came down to the wire, Ares Management Corp has closed the refinancing of Panda Power’s 778 MW combined-cycle, gas-fired Stonewall project in Virginia, which it is in the process of acquiring.
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Independent power producer Sonnedix has agreed to sell its businesses in Puerto Rico, including two solar assets, to ArcLight, in a move to exit the island.
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First Energy Corp has secured about $3.4 billion of equity commitments from a pair of private equity firms, one of which will acquire a minority stake in three of the company's transmission businesses.
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MPC Energy Solutions has entered the Mexican renewables market by purchasing a 15.8 MW (DC) solar project in the country.
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Now that the US House of Representatives has passed the Biden administration's long awaited $1.2 trillion bipartisan infrastructure bill, renewables market participants are eyeing a $3.5 trillion reconciliation bill containing a host of federal tax credit incentives and a direct-pay option that could be voted on as soon as next week.
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The Blackstone Group has sold its quasi-merchant fossil-fuel fired Lonestar II portfolio in Texas after striking a bilateral deal.
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A buyer has emerged for an Ares Management Corp-backed distributed generation solar developer based in Massachusetts, following a competitive auction process.
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Brazilian firm Equatorial Energia has signed a deal to buy Actis-owned renewables platform Echoenergia Participações as it grows its portfolio in the country.
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Utility company Alabama Power Co has agreed to purchase a dual-fuel simple-cycle plant from private equity firm Harbert Management Corp.
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A debt and equity raise for a merchant gas-fired project in Queens, New York has been scuppered after the project's air permit was denied by state regulators.
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While Brazil has experienced a debentures boom over the last five years, with individuals as the main bondholders, the market could take a turn very soon as a new bill in Congress seeks to attract other types of investors, including from abroad.
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Marketing materials are being circulated for a utility-scale battery storage platform based in California.
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KKR & Co has struck a deal to purchase Clearway Energy's thermal power business for $1.9 billion, following a competitive auction process that kicked off at the start of this summer.
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NextEra Energy Resources (NER) is planning to drop a roughly 1,260 MW portfolio of renewable energy projects into its yield company, NextEra Energy Partners (NEP), which the yieldco will then finance with convertible equity from Apollo Global Management.
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After sifting through more than 100 nominations, Power Finance & Risk is pleased to announce the short lists for its 18th Annual Deal of the Year Awards.
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British power producer ContourGlobal has closed the refinancing of its Caribbean power portfolio, totaling 274 MW.
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