The government of British Columbia has announced new conditions and tax rebates for liquefied natural gas (LNG) projects in the province, in a suspected bid to prompt the final investment decision of the LNG Canada project, which was delayed indefinitely in July 2016.
Energy Finance & Investment News in Canada
The Alberta Electric System Operator (AESO) has opened Rounds 2 and 3 of its Renewable Electricity Program (REP), devised to support the Government of Alberta’s target of 30% renewable electricity by 2030. Expressions of Interest (EOI) for both rounds are invited until 20 April 2018.
IPPToday #154: Government of Alberta announces second and third rounds of 5000 MW Renewable Electricity Program
The Government of Alberta, a province in western Canada, has announced that the Alberta Electric System Operator (AESO) is preparing to open the second and third series of tenders in its Renewable Electricity Program. In total, the two tenders will award 700 MW renewable energy projects.
Massachusetts utilities has announced that they have selected a Eversource Energy’s subsidiary Northern Pass Transmission (NPT) and Hydro-Québec joint proposal to supply 9.45 TWh of firm clean energy, which will help the state enhance reliability and contribute to its greenhouse gas reduction requirements.
The Federal Energy Regulatory Commission of the USA has approved the merger application filed by Hydro One Limited in Canada and Avista Corporation in the US. The application, filed in September 2017, concerns a definitive merger agreement under which Hydro One will acquire Avista for CAD67 million (US$53 million) per share in a CAD6.7 billion (US$5.3 billion) all-cash transaction.
DIF has completed the refinancing of a portfolio of three operational, ground-mounted solar photovoltaic projects located in Ontario, Canada.
Capstone Infrastructure Corporation has announced that it has acquired the remaining interests in Glen Dhu Wind Energy Limited Partnership and Fitzpatrick Mountain Wind Energy Inc., and closed a new corporate credit facility.
Pattern Energy Group has announced that it has secured CAD$1 billion (US$798,23 million) financing for the 300 MW Henvey Inlet wind project located on Henvey Inlet First Nation Reserve No. 2 on the northeast shore of the Georgian Bay in Ontario.
Connor, Clark & Lunn Infrastructure has announced the closing of two separate bond financings with a total of approximately CAD359 million (US$279.3 million) for the 50 MW Windsor Solar Project and the 50 MW Southgate Solar Project.
Powin Energy Closes Project Financing from Brookfield Renewable for its Stratford Energy Storage System
Powin Energy Corporation has secured construction to term project financing from renewable power company Brookfield Renewable Partners for its 8.8 MW/40.8 MWh Stratford Energy Storage Project in Stratford, Ontario, Canada
Frontera Energy Corporation has signed an agreement to acquire the outstanding 36.36% ownership of Pacific Midstream Limited from the International Finance Corporation (IFC).
Shenzhen Energy will buy three California solar power plants for approximately US$232 million from Canadian Solar, as a way to diversify their business with power plant construction.
ATCO has announced that Alberta PowerLine, a partnership owned 80 per cent by Canadian Utilities Limited, an ATCO company, and 20 per cent by Quanta Services, Inc., has closed the issuance of an aggregate of US$1,384,678,000 of bonds with maturities ranging from June 2032 to March 2054.
DONG Energy and NaiKun Wind Energy Group have signed a Letter of Intent (LOI) which gives DONG Energy the exclusive rights to negotiate a joint development agreement for the Haida Energy Field Offshore Wind Project in British Columbia and explore the potential for establishing a long-term partnership with Naikun Wind Energy Group
BC Hydro has announced it plans to purchase the remaining two-third ownership interest in the Waneta Dam and Generating Station in Trail, B.C. from Teck Resources Limited (Teck) for CAD1.2 billion (US$945 million). The purchase is forecast to have a beneficial financial impact each year, helping to keep rates affordable for BC Hydro’s customers.
Boralex has announced that Caisse de dépôt et placement du Québec has acquired all of the Class A common shares of Boralex held by Cascades representing 17.3% of the outstanding shares for the amount of CAD287.5 million (US$228.4 million).
The competitive process for the SaskPower's next 200 MW of utility-scale wind capacity is moving forward, with the Request for Proposal (RFP) phase of the competition.
Fengate Real Asset Investments has announced that the firm has reached financial close on its acquisition of a 75% limited partner interest and 50% general partner interest in a 40 MW operating wind farm in Southern Ontario.
InstarAGF Asset Management and AGF Management have announced the final closing of the InstarAGF Essential Infrastructure Fund with US$740 million in aggregate equity commitments from institutional and high net worth investors from Canada, Europe, the United Kingdom and United States.
Fortis Inc.and Teck Resources Limited have announced an agreement under which Fortis will purchase Teck’s two-thirds interest in the Waneta Dam and related transmission assets in British Columbia, Canada, for CAD1.2 billion cash (US$878 million).