Iberdrola, through its subsidiary ScottishPower, has agreed to sell its traditional generation assets in the United Kingdom to Drax Smart Generation, a subsidiary of the Drax Group for GBP702 million (US$922.5 million). Thus, the company becomes the first 100% renewable integrated energy business in the UK.
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.
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.
ORIX Corporation has announced that it has established and commenced activities at ORIX Renewable Energy Management Corporation, a company tasked with the operation, management, and maintenance of power plants that use renewable energies such as solar power.
Brazil's Câmara de Comercialização de Energia Elétrica (CCEE - Chamber of Electric Energy Commercialisation) has awarded power purchase agreements for projects with 835 MW total generation capacity in its latest energy auction. The contracts awarded represent BRL23.6 billion (US$575.7 million).
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.
IFC, a member of the World Bank Group, has forged a new partnership with Gaia Energy to create a joint platform for the development of wind power and other renewable energy projects in Africa.
The Dominican Republic's Minister of Energy and Mines has announced that it is changing the way that renewable projects are developed in the country. Instead of awarding PPAs to projects proposed by developers, the Ministry will tender concession contracts for projects that it has designed.
Macquarie Infrastructure and Real Assets (MIRA) has announced the final close of Macquarie Super Core Infrastructure Fund (MSCIF) Series 1 at EUR2.5 billion (US$2.94 million), exceeding the fund's initial minimum target of EUR1.5 billion (US$1.76 million).
Macquarie Capital Launches Green Investment Group in North America; Completes Two Green Energy Investments
Green Investment Group (GIG) launches in North America, establishing GIG as a global renewable energy investment platform.
E.ON SE has successfully completed the sale of its 46.65 percent stake in Uniper SE to Fortum Corporation.
E.ON has announced the successful close of the syndication of EUR5 billion (US$5.88 bilion) financing for its acquisition of Innogy, an energy company based in Essen, Germany, with revenue of around EUR44 billion (US$54.3 billion) (2016), more than 40,000 employees and activities in 16 countries across Europe.
Pan-European equity fund Marguerite II has invested in City Green Light, one of the largest private operators of public lighting in Italy. This follows the investment by Fondo Italiano per l’Efficienza Energetica (FIEE) – the first Italian equity fund entirely dedicated to investing in projects in the energy efficiency sector – in February 2018.
Multinational renewables developer Gigawatt Global Cooperatief has signed a Memorandum of Understanding with the Economic Community of West African States (ECOWAS) to invest US$1 billion in renewable energy projects in the region.
The Investment Fund for Developing Countries (IFU), based in Denmark, has signed an agreement with six pension funds - PKA, PensionDanmark, PFA, ATP, JØP/DIP and PenSam - to establish the Danish SDG Investment Fund, which will contribute to meeting the UN Sustainable Development Goals (SDGs) in developing countries and promote the sale of Danish expertise and technology.
Greenko Energy Holdings (Greenko) has announced that it has entered into a definitive purchase agreement with AT Capital Group for the acquisition of Orange Renewables Singapore, for a total enterprise value of approximately US$922 million.
Impax Asset Management Group Plc has announced the close of its third private equity infrastructure fund at EUR357 million (US$420.1 million). Impax New Energy Investors III (NEFIII) is focussed on investments in renewable power generation and related assets in Europe.
The Energy Minister of South Africa, Jeff Radebe, has announced that the fifth bidding round of the country's Renewable Energy Independent Power Producers Procurement Programme (REIPPPP) will be launched in November 2018. The tender will procure up to 1.8 GW renewable capacity.
Eesti Energia AS has announced that its fully owned subsidiary Enefit Green AS has entered into a share purchase agreement regarding all the shares in Nelja Energia AS, a renewable energy producer and developer in the Baltic region of Europe.
Partners Group has announced that it has agreed to invest AUD700 million (US$528.2 million) in a new large-scale renewable energy platform in Australia, to be called Grassroots Renewable Energy Platform. It will construct over 1.3 GW of new wind power, solar power and battery storage assets across Australia within the next four years.