PJM Interconnection withdrawals of new proposed projects have increased in volume following the late May disclosure of auction results for the 2020/21 period. Prices cleared at US$76.53 per megawatt-day for most of the region, down from US$100 per megawatt-day last year and US$164.77 in 2015. On the gas-fired side, an American Municipal Power project with a 652MW capacity in Southern Meigs County, Ohio, and an East Kentucky Power Cooperative project worth 614MW in Clark County, Kentucky, have both been taken off the list.
Projects in British Columbia in multiple sectors are facing uncertainty in the wake of the New Democratic Party (NDP) and Green parties announcing a four-year alliance aimed at forming a minority government.
A federal briefing note on the closely-guarded structural elements of the proposed Canada Infrastructure Bank is being scrutinised by members of the Canadian press ahead of key votes to approve the bank. Documents have been reported to contain an assurance for investors that if project revenues fall short of estimates, federal investments through the bank would act as a revenue floor to help make a project commercially viable.
The AllianzGI infrastructure debt platform has made an investment on behalf of its clients in the Moapa Southern Paiute solar project in Clark County, Nevada. The project has a capacity of 250MW. Capital Dynamics’ Clean Energy and Infrastructure (CEI) acquired Moapa on March 29. The transaction was executed as a back-leverage loan in order to tailor the financing to the structure Capital Dynamics already had in place.
Denver International Airport (DIA) is revealing some of the details of how its public-private partnership with a team led by Ferrovial will be structured for the Great Hall renovation. The concession will have a term of 34 years and DIA will make annual payments of US$30m to the private team. Ferrovial will give DIA an 80% share of terminal concession revenue.
NRG Energy and its creditors have extended the deadline on negotiations over its GenOn Energy portfolio of assets. The deadline was extended to June 12 after being pushed back three times, from May 31 to June 9.
New York Governor Andrew Cuomo has unveiled the Clean Climate Careers initiative following the US decision to withdraw from the Paris Accord. In the first phase of the programme the state will make an investment of up to US$1.5bn in major renewable energy projects, including wind and solar, and expand energy efficiency and solar installations at public buildings.
Infrastructure Ontario (IO) and Sinai Health System have awarded a fixed-price contract to EllisDon Capital to build and finance Sinai Health System’s Phase 3A redevelopment project at Mount Sinai Hospital.
NRG Energy has closed a hybrid bank and private placement deal backing the 600MW Carlsbad gas-fired power project in southern California. The deal was for roughly US$700m.
The mayor of Kansas City, Missouri, has opened up bidding on the Kansas City airport terminal project after receiving a second proposal. Aecom submitted a letter to the mayor asking to be included in talks after engineering firm Burns & McDonnell submitted a US$1bn privately financed plan.
Ormat Technologies has received final regulatory approval to enter into a 26-year power purchase agreement (PPA) for a portfolio of geothermal projects with the Southern California Public Power Authority (SCPPA). Under the terms of the agreement, SCPPA will purchase 150MW of power generated by a portfolio of the company’s new and existing geothermal power plants and will resell the entire output to the Los Angeles Department of Water and Power (LADWP).
The Fargo-Moorhead flood diversion project in Minnesota has been allocated US$20m in federal funding from the US Army Corps of Engineers, only a portion of the US$70m sought.
The Chicago Infrastructure Trust has issued a request for proposals (RFP) for the design, construction and financing of three facilities that will replace a city operations facility at 1685 North Throop Street that houses 225 employees. Responses to the RFP are due by July 5.
Maryland Transportation Secretary Pete Rahn has ordered Purple Line Transit Partners, a consortium of Meridiam, Fluor, and Star America, to stop executing new construction contracts on the US$5.6bn Purple Line light rail project.
Cheniere Energy has received a US$500m funding commitment from EIG Global Energy Partners to develop its proposed Midship gas pipeline project.
S&P believes coal generators’ performance will benefit little following President Trump’s decision to withdraw the United States from 2015 UN Paris Agreement on climate change.
The Nevada state legislature has passed AB 405, a bill to reinstate net energy metering for residential solar projects. The bill will immediately allow rooftop solar customers to be reimbursed for excess generation from a solar system at 95% of the retail electricity rate.
Minnesota Power is working with Dairyland Power Cooperative to develop a 525MW–550MW combined-cycle natural gas facility to back up renewable resources.
Infrastructure Ontario and Metrolinx have shortlisted three teams to design, build, finance, operate and maintain the Hurontario light rail transit (LRT) project.
Napa, California has selected Plenary Group as the preferred bidder on its city hall P3. Plenary will be lead the development for a new downtown city building that would house several municipal buildings and the police department.
LS Power subsidiary Gridiron Funding has landed a US$1.175bn financing backing the acquisition and refinancing of five natural gas-fired power plants across the US with a combined generating capacity of 3.51GW. The deal will also be used for general corporate purposes.