Solar costs have fallen 85% between 2008 and 2016 and wind costs fell 36%.
Canadian Solar secures debt and tax equity from Prudential and US Bank for 92MW solar PV power project located in NC. PPA with Duke Energy Progress. Cohn Reznick advised.
Dominion plans more solar in VA. Install at least 5.2GW in the next 25 years and reduce carbon emissions 25% over 8 years.
National Grid and partners build the first community solar PV facility in NYS. Developers eyeing NYC for future community solar PV projects.
Cypress Creek defined path for $0.75/W solar PV. Only goes after markets where it’s possible to standardize the procedure and reach scale. Cypress Creek has the finance, development, EPC, sales, asset management and O&M pieces of the business all in-house, with the flexibility to partner externally. New York 1,400 sites @ 2MW each.
Natural Gas prices are expected to remain below $2.75 in the short term.
ORIX acquired 22% of Ormat for $627MM value the company at about $3BN.
Japan power plant conversions from coal to biomass. 50MW project will burn 200,000 TPY of PKS mainly from Indonesia.
Unlikely coal recovery. 50% of decline caused by low natural gas price.
Energy efficiency investments have the lowest risk and lowest cost.
Oil & Gas
O&G frac companies going public including Liberty Oilfield Services $250MM IPO.
Goldman Sachs acquisition 12% of Riverstone energy PE investor for $500MM value the company at over $4 billion. SPACs created to acquire energy companies including $600MM TPG Pace Energy “blank check” company. Cities taking responsibility for meeting clean energy goals. 27 cities have clean energy mandates including San Antonio, NYC, Atlanta. 2020 target PPA prices for wind $20/MWh, solar $20-30/MWh. S&P green evaluation for clean energy projects expected to lead to higher quality credit ratings. Green bond market 2016 $93BN, expected 2017 $206BN. 70% clean energy ETF beat S&P500. 190 Fortune 500 companies saved $3.7BN in 2016 on 80,000 projects. 211 companies set GHG reduction goals. 240 companies set some combination of GHG reduction, renewable energy sourcing or energy efficiency goals. S&P webcast on Green Evaluations May 4 at 10 a.m. EDT. Private companies created to join the waste management industry. Blue Sage Capital and Tailcreek Capital formed Frontier Waste Management and acquired Access Disposal and K2 Waste.