Mega transport projects in the Canadian provinces have plenty of finance chasing them. Recent disappointments have reduced construction industry confidence, however. By Alison Healey.
Seaborn Networks affiliates Seabras 1 Bermuda and operating company Seabras 1 USA have filed for Chapter 11 bankruptcy protection in the US. Bracewell and Appleby are advising on the restructuring.
The procurement process seeking a private partner for St Louis Lambert International Airport in Missouri was halted late last year. St Louis mayor Lyda Krewson blocked the release of a request for proposals (RFP) on the airport P3 despite 18 submissions of interest from the market.
Commitments were due for Stonepeak Infrastructure Partners’ roughly US$530m in credit facilities as PFI went to press on January 14.
South Carolina Public Service Commission (PSC) has voted to increase the rate Dominion Energy must pay to independent solar providers in its service territory.
New York-based real estate investor JPM Capital has entered a tax equity transaction on the Glen Ullin wind project in North Dakota.
President Donald Trump has proposed narrowing the scope of 1978 National Environmental Policy Act (NEPA) regulations in an attempt to accelerate the permitting process for pipelines, mines, highways and other projects throughout the country.
Dominion Energy has selected Siemens Gamesa Renewable Energy as the preferred turbine supplier for its Virginia offshore wind project following a competitive solicitation process.
Saudi Aramco has entered into an interim project participation agreement (IPPA) for Sempra Energy’s Port Arthur LNG export project in Jefferson County, Texas.
BNP Paribas has closed an incentive-linked corporate revolving credit facility (RCF) with Brookfield Renewable Partners that is structured as a sustainability-linked loan (SLL).
The government of British Columbia has named Fraser Crossing Partners as the preferred bidder on a public-private partnership for the C$1.4bn (US$1.07bn) Pattullo Bridge replacement.
Pembina Pipeline has closed an offering of US$1bn of senior unsecured medium-term notes that will pay down debt under its unsecured C$2.5bn (US$1.9bn) revolving credit facility.
Baton Rouge Metro Airport executives are considering a public-private partnership or alternative structure for funding needed to provide financial incentives to airlines for new services.
Solar Frontier Americas (SFA), the US-based renewables business of Japanese petroleum company Idemitsu Kosan, has closed a tax equity commitment and debt financing for its 210MW Mustang Two solar project in Kings County, California.
Miami-Dade commissioners have approved a contract with Plenary Justice Miami for a county courthouse built under a public-private partnership.
Renewable energy investor Excelsior Energy Capital has acquired 90.1% of Invenergy’s interest in the Prairie Breeze II and III wind projects in Antelope and Boone counties, Nebraska.
Energy and water efficiency developer Metrus Energy has secured US$25m in debt from Key Equipment Finance and expects an additional US$50m in financing from the lender for 2020 projects.
Con Edison Development has acquired the 14.4MW Lakehurst solar project in New Jersey from an affiliate of Starwood Energy and Energy Management Inc (EMI).
Gulf Coast Ammonia (GCA), formerly a joint venture of Macquarie Capital and Germany’s Mabanaft, has closed a US$574.3m nine-year project loan to back an anhydrous ammonia plant in Texas.
TransAlta Renewables has raised US$126m of tax equity to part-fund the 90MW Big Level wind farm in Pennsylvania and the 29MW Antrim wind farm in New Hampshire.
Pinnacle West Capital subsidiary Bright Canyon Energy has acquired ownership interests in two Tenaska-developed wind projects.
President Donald Trump late last year signed the Taxpayer Certainty & Disaster Tax Relief Act of 2019, which extends the wind production tax credit (PTC) for an additional year.
New York governor Andrew Cuomo is assembling external advisers to revisit the state’s previous plans for high-speed rail.
Pattern Energy has closed financing and started repowering its Gulf Wind facility in Kenedy County, Texas.
Goldman Sachs Renewable Power has priced a US$500m private offering of notes backing a portfolio of 379 distributed solar assets.
Boralex and Caisse de depot et placement du Quebec have closed on more than C$200m (US$152.5m) in credit facilities to refinance debt on the 139MW Le Plateau I wind farm in Quebec.
The Federal Energy Regulatory Commission (FERC) has directed PJM Interconnection to expand its minimum offer price rule (MOPR) to address state-subsidised power projects, with certain exemptions. The decision is considered negative for renewables development.
Carlyle Group has closed the refinancing of the debt backing the 594MW Rhode Island State Energy Center (RISEC) combined-cycle project in Johnston.
Pembina Pipeline and Petrochemical Industries Company of Kuwait have executed a lump-sum engineering, procurement and construction (EPC) contract to construct a propane dehydrogenation (PDH) facility in Alberta.
Construction defects have emerged on the North Battleford hospital P3 in Saskatchewan, leading to a downgrade on the Access Prairies Partnership (APP) project bonds to Baa1 from A3.
The Province of Ontario has cancelled plans to demolish the Credit River bridge in Mississauga due to local opposition and will return to an earlier proposal to renovate the bridge.
Quebec’s Minister of Health has approved the expansion of the Hotel-Dieu d’Arthabaska hospital and the province is considering procuring the project as a public-private partnership.
The Transportation Commission has voted to authorise secretary of transportation Tim Gatz to negotiate a financing agreement with the US Department of Transportation (USDOT) and the Oklahoma Turnpike Authority (OTA) for the Gilcrease Expressway project.
Renewables investor Copenhagen Infrastructure Partners (CIP) has acquired the 800MW Woodford onshore wind project in Illinois from Tri Global Energy for an undisclosed sum.
Maryland governor Larry Hogan has reached a deal with state comptroller Peter Franchot that will enable the Capital Beltway and Interstate 270 roads P3 to move forward.
Ormat Technologies’ Puna Geothermal Venture (PGV) unit has amended its power purchase agreement (PPA) with Hawaiian Electric for geothermal power sold from its project on Big Island.