An international consortium has announced its intention to develop a waste-to-energy project involving the construction of five waste-to-energy plants in Russia, four in the Moscow region and one in Kazan, the Republic of Tatarstan. The total cost of the project is estimated to be RUB150 billion (US$2.6 billion).
Energy Finance & Investment News in Europe
ContourGlobal Plc has confirmed that it is negotiating with Spanish engineering and renewable energy company Acciona the acquisition of five concentrated solar power (CSP) plants in Spain.
Enel, acting through its Spanish subsidiary Endesa’s local renewable energies company Enel Green Power España (EGPE), has signed an agreement to acquire 100% of Parques Eolicos Gestinver, owner of five wind farms in Spain with a total 132 MW capacity.
TerraForm Power, Inc. has announced that it has launched a voluntary tender offer to acquire 100% of the outstanding shares of Saeta Yield, S.A., a leading, publicly-listed European owner and operator of wind and solar assets, located primarily in Spain.
NTR has successfully closed three project debt facilities in recent weeks with AIB, Nord/LB and MUFG totaling €66.5 million (US$82,80 million). Two of the debt facilities will be utilized to finance the construction of new wind farms, while the third is for the refinancing of a wind farm already in operation.
German asset and investment manager KGAL has secured financing from HSH Nordbank AG for the construction, development and operation of two solar photovoltaic plants in France with an overall capacity of 18.58 MW.
Germany’s Federal Network Agency has announced a second tender for offshore wind, targeting 1,610 MW of capacity to be put in operation after December 2020. This includes 60 MW not awarded in the first tender, in April 2017.
The European Energy Efficiency Fund (EEEF) has signed a memorandum of understanding (MoU) with Wattosun, a Portuguese firm with over 50 years’ experience in developing, financing and operating photovoltaic roof-top and ground mounted projects globally, for a EUR5 million (US$6.19 million) facility to finance a portfolio of self-consumption photovoltaic installations across Portugal.
The European Bank of Reconstruction and Development (EBRD) has announced that it is financing the construction of four biogas combined heat and power plants in Belarus. The bank is loaning up to US$15 million to three special purpose companies owned by the Lithuanian UAB Modus Group.
The European Investment Bank (EIB) is providing EUR48 million (US$59.65 million) to finance the construction and operation of three new wind farms in Austria (Kreuzstetten IV, Dürnkrut II and Hipples II) with a total capacity of 39 MW. The facilities will be operated by Windkraft Simonsfeld AG.
The European Commission's Cohesion Fund has granted funding for a combined heat and power (CHP) project in Vilnius, the capital of Lithuania, in the south-east of the country. The project is being developed by Lietuvos Energija, who expect the CHP plant to produce 87.6 MW of electricity and 227 MW of heat.
Capital Stage and Ireland Strategic Investment Fund to invest €140 M in Irish renewable energy market
Capital Stage and the Ireland Strategic Investment Fund enter €140 million partnership to invest in the Irish renewable energy market with leading Irish solar company Power Capital
The European Commission yesterday approved an unprecedented grant of EUR578 million (US$718.5 million) to the Biscay Gulf France-Spain interconnection project. The grant will fund the construction of a 370km electricity transmission line between Gatika, around 20km north of Bilbao, in the north-east of Spain, and Cubnezais, around 40km north of Bordeaux, in the south-west of France.
Foresight Group has announced the first close of the Foresight Italian Green Bond Fund at EUR70 million (US$864.75 million).
The government of the Canary Islands has confirmed that it will hold two auctions for large-scale wind and solar power projects this year. It has been reported in local press that 100 MW will be allocated in the solar auction, and 300 MW wind projects will be awarded in the other auction. No dates were disclosed.
Grupo T-Solar, a leading Spanish independent photovoltaic solar power producer and a portfolio company of I Squared Capital, has issued project bonds worth EUR118.4 million (US$145 million) to refinance eleven photovoltaic solar generation plants in Spain with a total combined capacity of 34.2 MW.
Dutch multinational banking and financial services firm ING has launched a Sustainable Investments fund, committing EUR100 million of capital to support sustainable ’scale-ups’ with a proven concept and a positive environmental impact. The OECD definition of a scale-up is a company with an average annualized return of at least 20% in the past 3 years with at least 10 employees in the beginning of the period.
DEG (Deutsche Investitions- und Entwicklungsgesellschaft mbH) has acquired an equity interest of 10% in the Cibuk I wind farm in Serbia.
Veolia's plans to develop a new high efficiency Energy Recovery Facility (ERF) in Hertfordshire, in the south of the UK, have been approved by Hertfordshire County Council. It will generate up to 33.5 MW of electricity from 350,000 tonnes of potential residual waste (that cannot be reused, recycled or composted) produced in the county each year.
Taking advantage of the attractive market conditions, ENGIE has issued its first Green Hybrid Bond (Deeply Subordinated Perpetual Bond) for an amount of EUR1 billion (US$1.22 billion), with a coupon of 1.375% and a Non-Call period of 5.25 years.