Infrastructure developers are racing to find structures to offset the negative impact of tax reform. States and cities have been handed more responsibility in project development. By Alison Healey
MUFG will lead the financing to back Capital Dynamics’ acquisition of the 8point3 Energy Partners.
Panda Power Funds has told bankers it is close to reaching an equity deal to back its Mattawoman project.
Rockland Power Partners III is likely to wrap the debt package backing its acquisition of a portfolio of peaking assets from AES and its DPL subsidiary in March with new benchmark pricing for merchant gas-fired debt.
Federal regulators have ordered Cheniere Energy to shut down part of its LNG export terminal in Louisiana after multiple leaks from storage tanks were discovered in late January.
Vistra Energy and Dynegy have been ordered by the Texas Public Utilities Commission to divest at least 1,281MW of Texas generation assets as a condition of their merger.
A Texas appeals court has begun hearing the first arguments in an appeal linked to Panda Power Funds’ suit against the Electric Reliability Council of Texas (ERCOT).
Innergex Renewable Energy has completed the acquisition of Alterra Power for C$1.1bn (US$878.3m) and the assumption of debt.
Enel has reached agreement to sell a minority stake in two Canadian wind projects to Alberta Investment Management Corporation (AIMCo) for a price that has not yet been finalised.
Hartland Resource Management Group (HRMG) has reached financial close and has been awarded the contract to design, build, finance, operate and maintain the Capital Regional District (CRD) residuals treatment facility. The project is located at the Hartland Landfill, in Victoria, British Columbia, Canada.
Sumitomo Mitsui Banking Corporation, National Bank, and ATB Financial led a two-tranche bank financing to back the Michael Garron hospital redevelopment P3, awarded to a consortium led by EllisDon.
sPower, owned by AES and Canada’s Alberta Investment Management, has closed a US$421.4m bond issue that will help finance a portfolio of 565MW of wind and solar assets.
OCI Beaumont, the sponsor of an operating methanol and ammonia project on the Texas Gulf Coast, has launched a US$455m Term Loan B refinancing. The deal was upsized from an expected US$400m.
The Federal Energy Regulatory Commission (FERC) has authorised Anbaric Development Partners to move ahead with a 2GW to 2.4GW transmission network that would serve offshore wind projects off Massachusetts.
Cheniere Energy subsidiaries have entered into two liquefied natural gas sale and purchase agreements (SPAs) with China National Petroleum Corporation (CNPC).
Massachusetts regulators have confirmed that Central Maine Power’s New England Clean Energy Connect will take the place of the Northern Pass project as the winner of its clean energy contract if Northern Pass cannot resolve permitting problems in New Hampshire by March 27.
BluEarth Renewables has acquired a majority interest in two operating wind facilities in Meeker County, Minnesota totalling 39.6MW.
A number of corporate power purchase agreements have been signed in recent weeks, with offtakers including chocolate manufacturer Nestle, distiller Brown-Forman, and wireless provider AT&T, which subscribed to a jumbo, multi-project deal.
NRG Energy (NRG) has agreed to sell its ownership in NRG Yield and its renewables platform to Global Infrastructure Partners (GIP) for cash proceeds of just under US$1.38bn.
The failed I-69 public-private partnership, which resulted in the state taking over the project last year, has led to the creation of House Bill 1374, a local state law, that will create a standard for future deals.
Ontario has issued the largest Green bond offering in Canadian history, raising US$1bn for infrastructure projects that will help reduce greenhouse gas emissions and fight climate change. The 2.65% bonds mature in 2025.
S&P has joined Moody’s in downgrading the debt on TTK Power’s 635MW Empire Generating combined-cycle project in New York. S&P cut the rating to CCC from B and Moody’s cut its rating last month to B3 from B2.
Manulife led a long-term unrated private placement to back the Corner Brook Care Partnership long-term care project in Newfoundland and Labrador. The debt-to-equity ratio on the C$120m (US$96m) project is 91.75%.
The latest cost estimate on Montreal’s REM light-rail system is around C$6.3bn (US$5bn), some C$300m higher than previously expected.
Ontario has partnered with Toronto Hydro to build an energy storage system that will provide back-up power to the Eglinton Crosstown light rail transit (LRT) line.
Rhode Island Governor Gina Raimondo has directed her energy team to work with Rhode Island’s utilities to issue a procurement for up to 400MW of clean energy.
SunPower plans to monetise more than 400MW of leases that are held on-balance sheet, representing US$1.4bn of long-term receivables.
The Connecticut Port Authority has selected Mott MacDonald to provide advisory services for the development and operation of its New London State Pier.
San Antonio-based refining company Andeavor has agreed to acquire the Kenai LNG project in Alaska from ConocoPhillips. The sale price was not disclosed.
Four teams have submitted responses on Chicago Infrastructure Trust’s request for qualifications (RFQ) for an express train P3 for the O’Hare Airport.
The Department of Technology of the City & County of San Francisco has issued a request for qualifications for the design, construction, financing, operation and maintenance of a citywide high-speed internet network under a 15-year contract.
Denver, Colorado’s Eagle rail transit line has faced extended construction delays on its G line portion, resulting in uncertainty about the project’s ability to reach substantial completion by its revenue service deadline, or long-stop date, of June 2, according to Fitch Ratings.
Finland’s Taaleri Energia is planning a financing package for its first wind project in the US. The company has acquired the 277MW Truscott-Gilliland East wind project in Knox County, Texas from NorthRenew Energy, representing a US$350m investment.
The Alabama Department of Transportation has shortlisted three teams in the bidding for the Mobile River Bridge and Bayway project.
The Federal Energy Regulatory Commission (FERC) has voted unanimously to remove barriers to the use of energy storage, ordering regional transmission organisations (RTOs) and independent system operators (ISOs) to revise their pricing.
American Electric Power (AEP) is facing a legal setback after an administrative law judge in Oklahoma said the company failed to prove customers should pay for the US$4.5bn Wind Catcher project.