Sunpower $140 MM 3-year credit facility to aggregate 50 MW C&I solar PV.
CSP companies promoted as older thermal power plants close. Glasspoint CSP within glass house reduced costs 55% from 7MW pilot to 1GW operating project.
Solar PV market update for CA, MA, NJ and NY.
Solar PV sector impacted by panel trade dispute.
Solar PV project developers hoarding panels.
REIT attractive public listing for solar power companies.
Coronal 10 MW 25-year solar PV PPA with Central Virginia Electric Cooperative
4 offshore wind projects proposed for NYS representing 2.4 GW. 90 MW offshore Montauk expected online 2022. NYS 50% from renewables by 2030.
NB-IoT for energy efficiency and distributed generation. Uses existing infrastructure for smart meters and smart buildings.
Monetization of energy efficiency investments. $75 MM arranged by Guggenheim Securities with TIAA. Due diligence (i) exclusive focus on commercial properties, (ii) property level cash flows that are senior to mortgage debt and (iii) strict underwriting criteria.
$25 MM project finance for Energy as a Service to C&I. Advised by Cohn Reznick.
Battery storage market could be $77.42 BN by 2024. 11.6% growth rate.
DOE 90-day rule for fuel will likely delay closing coal-fired power.
Oil & Gas
LNG growth might lower gas and power prices. US LNG exports might have a transformational impact on global natural gas and electricity markets.
Proposed 1.1MM BPD oil pipeline cancelled. Would have moved west coast oil to the east. Keystone pipeline waits approvals.
NYMEX crude closed below $50/bbl despite a bullish report from the DOE. Weekly inventory draw was larger than expected.
Natural gas to be dominant world fuel by 2035.
Demand for oil is expected to peak in 2022.
Ratio of net interest expense to debt is still declining. Recessions tend to occur 3 years after net interest expense to debt bottoms. Very little sub-debt but much greater 2nd-lien debt in this LBO cycle. Debt/EBITDA 6x highest in 10 years, > 6x raises concerns. Suez acquires GE Water for $3.4 BN predicated on the notion of "cost synergies". Leveraged loan market on track for highest M&A since 2014. GDP recovery by sector. Decarbonizing hydrogen production using water. 10 MW project to produce hydrogen for use in fuel cells. Engie project planned in France operating by 2019. 50% leafy greens might be grown indoors by 2030. US lettuce industry worth $6 BN. Brand is King. Do not proceed if g/kWh per month < 50. Transformer Strategic Reserve proposed by utilities in light of recent natural disasters. Industrial IoT for communicating energy usage. Investments by energy efficiency company Honeywell as well as GE, Intel, Saudi Aramco, Dell, Bosch Japan restarts nuclear reactors. Aims to increase nuclear energy to 20% of Japan's energy mix by about 2030. Carbon capture and storage in the sea bed. Statoil captures CO2 emissions from its natural-gas processing and pumping them into empty gas fields. Gassnova plans a $1.5 BN storage project by 2022. Renewables accounted for 2/3rds new power generation in 2016. New installed renewable capacity forecast increased by 12% in 2017. EPA preparing to propose a repeal of the CPP that is currently suspended. More new capacity was installed in the form of solar than coal for the first time. $300 MM SPAC formed by Carlyle to invest in energy companies.