The Carlyle Group has agreed to acquire Emera’s three natural gas-fired generation facilities in New England for $590 million. The seller is Emera Inc. J.P. Morgan provided financial advice on the deal. The transaction is expected to to close in the first quarter of 2019.
Energy Finance & Investment News in North America
The European Investment Bank (EIB) has announced that it has signed an US$87 million loan to part-finance three photovoltaic (PV) solar power plants in Mexico, with a total installed capacity of 1,088 MWp.
New York State Energy Research and Development Authority (NYSERDA) has launched its first request for proposals (RFP) for offshore wind energy, seeking to procure 800 MW or more of offshore wind renewable energy certificates (ORECs).
The Secretary of the Interior of the USA has announced three major developments in the country's offshore wind energy sector.
Hawaiian Electric Companies has announced that it is now in contract negotiations with seven developers regarding major solar-plus-storage projects to be located on three Hawaiian islands, representing the largest infusion of renewable energy in state history.
LNG Canada has announced that its joint venture participants – Shell, PETRONAS, PetroChina, Mitsubishi Corporation and KOGAS – have taken a Final Investment Decision (FID) to build an LNG export facility in Kitimat, British Columbia.
EVM Tenedora, S.A.P.I. de C.V. and EFS Global Energy B.V., a subsidiary of GE, has secured US$740 million financing for the development of an 850 MW power plant in Axapusco, Mexico, located approximately 60km north-east of Mexico City.
Enel, acting through its renewables subsidiary Enel Green Power (EGP), has closed the sale of 80% of the share capital of eight special purpose vehicles (SPVs), which own a combined 1.8 GW renewable capacity in Mexico, to the Caisse de dépot et placement du Québec (CDPQ) and the investment vehicle of the pension fund CKD Infraestructura México (CKD IM), an investment vehicle of some of the largest pension funds in Mexico.
The Narragansett Electric Company (NEC), an electric distribution company serving customers in Rhode Island and a subsidiary of UK utility National Grid, has issued a Request for Proposals (RFP) for the supply of energy as well as Renewable Energy Certificates and related attributes from up to 400 MW renewable energy projects.
Consolidated Edison, Inc. (more commonly known as Con Edison) has announced that one of its subsidiaries has agreed to acquire 981 MW AC of operating renewable energy generation projects from a subsidiary of Sempra Energy. The purchase price is US$1.54 billion (subject to closing adjustments, including working capital).
sPower has announced that it recently closed a US$498.7 million investment grade private placement financing. The financed portfolio represents approximately half of sPower’s 1.3 GW of operating portfolio. The portfolio is comprised of four previously financed tax equity partnerships with four leading financial investors.
The New Jersey Board of Public Utilities has unanimously approved opening a solicitation for 1,100 MW of offshore wind capacity. This is largest single-state solicitation of offshore wind in the USA to date.
The Department of Energy of the US government has announced the selection of 36 projects totaling US$80 million to support early-stage bioenergy research and development (R&D). This R&D will enable cost-competitive, drop-in renewable hydrocarbon fuels, bio-based products, and power from non-food biomass and waste feedstocks.
Diamondback Energy, Inc. and Energen Corporation have announced that they have entered into a definitive agreement under which Diamondback will acquire Energen in an all-stock transaction valued at approximately US$9.2 billion.
Starwood Property Trust has entered into a definitive agreement to acquire GE Capital's Energy Financial Services' Project Finance Debt Business and loan portfolio for $2.56 billion, including $400 million of unfunded loan commitments.
Apple, Akamai, Etsy and Swiss Re have announced an agreement to develop two new wind and solar energy farms in Illinois and Virginia. Spearheaded by Apple, the new projects will generate 290 MW to the PJM electric grid serving much of the Eastern United States, including areas of Virginia, Illinois, Pennsylvania, New Jersey, and Maryland.
American Electric Power (AEP) has announced that it is canceling the Wind Catcher project, following its rejection by the Texas Public Utility Commission. The US$4.5 billion proposal involved the acquisition of a 2,000 MW wind farm, currently being constructed by Invenergy, and a 563 km, 765 kV transmission line.
PacifiCorp, a subsidiary of Berkshire Hathaway Energy, has secured the final state government approval required to proceed with Energy Vision 2020, an initiative focussed on wind and transmission assets in the northwestern United States, which the company estimates will require US$3 billion investment.
Quinbrook Infrastructure Partners has announced that it is developing a 690 MW solar project in Nevada, in the south-west of the USA. The company plans to install a photovoltaic power plant on around 44,000 acres of land located around approximately 40km northeast of downtown Las Vegas.
Acciona has announced that, alongside Tuto Energy, it has signed a financing agreement for the 404 MWp Puerto Libertad photovoltaic complex in Sonora, north-west Mexico. The two companies each own 50% stakes in the project, which will deliver one of the highest-capacity solar plants in Latin America.