North Carolina legislation would reduce PPA term to 10 years and solar PV project size to 1MW. Competitive bidding process for new renewable energy facilities. 92% of NC 1,271 MW utility-scale solar PV capacity certified as QF.
Recycle Track Systems, a NY-based waste and recycling management technology company, raised $11.7MM in Series A funding
Oil & Gas
Shell acquired energy company involved in solar, wind and energy efficiency.
GE becomes #2 US energy company with acquisition of Baker Hughes. Predicated on a recovery in the oil price to $60/bbl by 2019.
307 M&A deals worth $48.7BN were announced globally this week. Buyout firms disclosed 12 deals worth $3.4BN. In the US, 35 M&A deals worth $12.7BN were announced and buyout firms disclosed six deals worth $2.3BN. Job growth expanded in June. Hackers are attacking nuclear power projects. Berkshire Hathaway $18BN deal to acquire Oncor T&D company. EnCap private equity energy investor raised $6.2BN for its 11th energy fund. Probability of a 3rd rate hike this year is approaching 60%. Project finance lead arranger league table rankings MUFG, SMBC, Mizuho, ING, CreditAg, BNP and SocGen. Global MLA rankings JPMorgan, RBC and MUFG, CreditAg 7th, BNP 8th and SocGen 12th. Advisors rankings SMBC, KPMG and RBC, Deloitte 8th. $7.5BN carbon capture project failure. $4BN cost overrun. SO planned to pass on costs to MS consumers. Follows failure of KiOR, Twin Creeks and View, that restarted elsewhere. Dandelion, a geothermal heating and cooling systems provider, has spun out of Alphabet's moonshot accelerator X and raised $2MM in seed funding. KDC organic waste process to produce fertilizer. Promotes 100% recycling of grocery store waste. $40MM east coast plant to consume 120,000TPY of organic waste. Aerofarms raised $34MM Series D. Total funding $130MM. 9 indoor farms, 4 in NJ including 69,000 sqft facility in Newark. Sells to ShopRite, Whole Foods and FreshDirect.