News - MARK DENNES

Energy Finance and M&A

4/27/2018

Thermal Power
TEPCO and Chubu plan $1 BN investment in US thermal powerby 2030.
Combined Cooling + Power. 1.5 MW modules. 4 installations representing 230 MW. Uses 85% less water, 40% less power and 80% less energy. Equity from Blue Mountain Capitaland Macquarie.

Latest News
Week ended April 26: 211 deals representing $2.7 BN. PE making up to 10 investments in a single platform before exiting. Impact investing by DFI, HNWI and insurance cos. Most have DFIs but need other investors to be profitable. Pension funds and insurance cos have been reluctant to commit to impact fundsbecause of the perceived risks, expect greater participation as impact investing becomes more mainstream. Brookfield buys remaining GGP for $9.25 BN. Westfield sold for $16 BN. CenterPoint Energy buys Vectren for $6 BNrepresenting 10% premium. 3 biddersincluding 2 utilities and a financial.

Energy Finance and M&A

4/20/2018

Solar and Wind
Conti Solar acquired by Aries. 500 MW development portfolio.

Latest News
5 funds accounted for 70% investor new equity in 1Q18. Global energy demand 2017 was 2x 2016. CO2 emissions record high. China and US contributing 50% of renewables generation. Wind 36% of growth. New nuclear too expensive to build.

Energy Finance and M&A

4/6/2018

Solar and Wind
Solar generating capacity jumped by 3.8 GW in 2016 due to technology’s higher efficiency, longer lifespan, and lower prices.
Solar contract prices in CA fell by 77% from 2008 to 2016.
IOUs on track to reach CA’s goal to procure 33% of retail sales from renewable sources by 2020 and 50% by 2030.

Energy Storage
Solid oxide fuel cells for data centers, C&I and distributed power.
Energy storage technology from biomass black liquor has at least double the energy of common lithium-ion batteries.
Energy storage business models: (1) PPA, (2) Storage as a Service and (3) Incentives.

Latest News
CA plans 50% reduction in level of statewide organics disposal from 2014 level by 2020