Energy Finance and M&A

Wind
Morgan Stanley sole lead arranger and admin agent for Invenergy 300 MW wind power project located in TX.
 
Solar PV
8minuteenergy sale to CapDyn of 328 MW Mount Signal Solar 3. First Solar PV panels, SCE PPA.
SunRun acquires some Sungevity assets. Sungevity renamed Solar Spectrum and no longer offers 3rd-party financing.
 
Thermal Power
CHP as a means to promote energy sustainability.
 
Oil & Gas
Shell to invest $1 BN/year on clean energy by 2020.
Peak oil predicted 2020-21. OPEC needs $70/bbl oil to breakeven.
 
Latest News
374 M&A deals worth $46.9 BN. 12 buyout deals with disclosed values worth $13.3 BN. In the U.S., 75 M&A deals worth $11.6 BN and 6 buyouts worth $3 BN. The US debt-to-GDP ratio expected to be 91% in 10 years, the highest since 1947. Neoenergia Brazilian power utility dual IPO in Brazil and the US values the company at $11 BN. ManuLife planning to IPO John Hancock. NRG Energy business plan review and transformation plan. Several economists predict the US to enter a recession in 2019. VCs move away from cleantech. 200MW energy storage by 2020 in MA. NRG plans $4BN asset sale. Investors arranging equity earlier in development business cycle. Green bond market issue will exceed $100 BN in 2017. Elliott Management might bid for Oncor regulated T&D company. Warren Buffett made $9 BN all-cash bid. Morgan Stanley actively investing Green Bonds proceeds in clean energy projects. Blackrock raised $1.6 BN from 67 pension funds, insurance companies and institutional investors. Financing energy efficiency and storage stacking resemble early wind and solar PV. 2 energy storage projects financed in past 2 years. Lenders and investors eager to finance. EU lenders built underwriting tools to finance energy efficiency. De-Risking Energy Efficiency Platform. Energy Efficiency credit standards. Median price to save energy 3c/kWh. Energy efficiency firm raises $34 MM Series B. Macquarie Capital committed to arrange $200 MM project finance for energy efficiency projects. $16 BN energy management market. EIX and GE Current struggle to make profitable energy efficiency development. Over 20 utilities offering energy efficiency.