WhiteWater Midstream $130MM C + 7-year project finance led by SMBC and MUFG. Pricing L + 200 bps. Finance includes loan + LCs.
Southern 148MW wind power project PPA with General Mills and GM.
Emera proposes delivering 1.2GW wind power from Canada to MA using 350-mile underwater cables.
AEP acquired $4.5 BN 2 GW wind power project + 350 mile transmission rather than offering PPA. Sought 10% ROE. Wind + Storage.
Deepwater Offshore Wind MA + Tesla Battery Storage. Allows load shifting.
Dominion acquires 4 solar PV power projects located in NC from Strata representing 20MW.
Duke Energy 35 MW solar PV power project located in NC gets regulatory approval.
Ecoplexus 16 MW solar PV power project located in NC gets approval. Funding from New Energy Capital of NH.
NTE Energy 2 GW solar PV and thermal power located in NC and OH. Whitehall and Credit Agricole leading debt and equity finance. Expect multiple offtakers.
Capital Dynamics 36 MW solar PV power project located in CA. Financing from MUFG and NordLB.
NC expects 2.6 GW solar PV over 3.5 years. PURPA contracts limited to 1MW, term 10 years.
Rockland Power PPA indexed to coal-fired power. Pricing L + 187.5pbs. MUFG leading finance. Refinances $216MM 7-year tenor term loan B @ L + 375bps and $47MM RCF.
Santee Cooper and SCEP cancel $7 BN nuclear power after spending $4.5 BN. Saved $11.4 BN in additional CAPEX and IDC.
OSU RFP for CHP issued May 2015 awarded July 2017. 44 bidders, 10 shortlisted, 3 finalists. Selected banks RBC and Barclays. Preferred EPC Burns & McDonald. Funding cost of debt 3.691%, OSU ROE 9.35%
CHP energy efficiency of 89.20%.
HELCO 30-year PPA at 21.9c/kWh. 21.5MW biomass power project fueled by eucalyptus trees.
ISG Energy developed 2nd generation FICFB technology. Improves fuel flow and energy cycling. Does not deal with the mercury content in ash.
UK has deployed over 40 EfW projects. Globally 15 EfW projects are in the process of arranging finance and 1 project in the US.
$116 MM 20 MW Hull Gasification EfW project located in the UK equity funding from Energy China and other Chinese investors.
GBP150 MM 600 TPD EfW project located in the UK. Merchant project. Ash collected and sent to landfill.
3,300 TPD EfW project located in MI generates 68MW. 90% sold to Basalt Infrastructure Fund, 10% DCO.
Santander led 2Q17 project finance lending following by SMBC and MUFG. Commonwealth Bank and Australia led 2Q17 infrastructure finance followed by NordLB and JPM. KKR launches $5BN Fund 3. US CVC deals decreased 18% from 1Q17. 209 deals. Funds increased 23% to 143 investors. Mostly CA and MA, where healthcare accounted for most investment. Oil & Gas M&A 2Q17 $37.01 BN, 3rd highest second quarter in 8 years. E&P dominated. PE investment in shale accounted for 21 deals worth $17 BN. US 2Q17 deal value $6.5 BN lowest in 2 years. 18 deals. Corporate deals $4.2 BN. Strategic deals $4.4 BN. 5 of 7 deals involved Canadian investors. EV/EBITA from 10x 2014 to 13.2x 2017. PE multiples 20x 2014 to 30x 2017. US attempt to dilute or roll-back EPA legislation. Success depends on congress action and activist reaction. CA and HI proposing 100% renewables by 2045. MA proposes 100% by 2050. CA 50% by 2030 and 100% by 2045. Jacobs Engineering acquires clean energy EPC Firm CH2M for $3.3 BN. 1,045 MW transmission line proposed to connect Northern Maine 630 MW wind power project with MA. Intersect Power 2 GW clean energy and storage secures $135 MM equity and LCs from Macquarie. Former Recurrent Energy developers. Carlyle secures 1 GW power portfolio. $297 MM financing from GE and Investec 7-year L + 325 bps. Alphabet developing energy storage project that stores electricity in molten salt and cooling anti-freeze. Releases energy by colliding hot and cold air in a steam turbine. Project size from a garage to a traditional power project. $40 BN market by 2024. 45 GW energy storage. JPM plans to invest $200BN in RE by 2025. Its already the largest tax equity investor. CT 30% RE by 2030. Reduce emissions 80% by 2050. Reduce energy waste by using CHP in commercial and industrial applications. Review Millstone nuclear project owned by Dominion. NYS issues $1.35 BN tax exempt senior and taxable subordinate debt.