Energy Finance and M&A

Solar PV
Solar PV panel protection case history and its likely implication.
Solar PV and wind competitive with thermal in markets that incentivize renewables. Natural gas fired power economic for the next 20-30 years.
House committee hearing on proposed changes to PURPA. XCel proposes cancelling contracts. Others want to reduce tenor and size and abolish must-run requirement.
Developers selling renewables businesses. Exelon had proposed selling 50% of its interest in renewables to John Hancock. Acquired business in 2010 from John Deere.
 
Thermal Power
£207 MM 5-year project loan to Wheelabrator and SSE 70 MW EfW. 7 lenders include Macquarie, MUFG, CA, Sabadell, Siemens and Investec.
NC pushing for more renewables forces Duke to delay building new $750 MM CCGT. Will build instead solar PV + storage. Adoption of energy efficiency programs.
Abengoa sale of 907 MW Norte III CCGT to Macquarie led consortium. Sale of 80% equity to Artha Capital.
$40 MM credit facility to support HERO financing of energy efficiency project companies.
 
Other News
Shell investing in the gas supply chain. Divesting oil and investing in LNG and gas. Create shorts to build projects against. Green Bonds demand to refinance existing bank debt on operating assets that meet ESG criteria. Some FOMC members are calling for a pause in rate hikes. Hurricane Irma could be an up to $250 BN storm. Hurricane Harvey was $180 MM. Cap Tables, Share Structures, Valuations, A Case Study of Early-Stage Funding