CapDyn $1.32BN solar PV finance for projects located in CA. Acquired from FSLR. $450MM tax equity from GS, Samsung, WF and USB. $270MM fixed rate loan from Allianz, Hana and IFM.
CapDyn closed with Allianz $208MM long-term debt for Moapa Southern Paiute Solar in NV.
Alliance 10-year energy hedge for wind power project located in OK.
Forefront Solar former SUNE execs funding from Mitsui to pursue solar PV. 1MW community solar PV.
Heelstone Solar sells 194MW solar PV portfolio to Sammons Renewable. A $1.2BN fund, 3rd acquisition in clean energy. Marathon Capital advised the seller.
Duke acquires Invenergy 25MW Shoreham solar PV located in NY. 20-year PPA with LIPA.
$530MM debt finance for 1GW Hickory Run gas-fired power. Equity 50% Itochu, 30% KEPCO and 20% Siemens. 5-year revenue put. Kiewit is the EPC contractor.
(1) $380MM C+5-year term loan led by BAML, BNPP and CA. Pricing L+325bps. Includes MUFG, Development Bank of Japan, SMBC, ABN Amro, National Australia Bank, Shinhan Bank, LBBW, HSBC and Woori Bank.
(2) $80MM fixed rate loan from KB Asset Management.
(3) $70MM LCs.
$1.1BN gas-fired power project located in PA. Financing led by CIT, CA and GE EFS. Whitehall is FA. Bechtel is EPC.
Advanced Power $1.6BN Cricket Valley gas-fired power. Investors Blackrock, Chubu, NH Investment & Securities and TIAA-CREF.
NRG asset sale shortlisted bidders NEE, GIP and GIC. Others considering bids. DOE comprehensive strategy for long-term reliability and resilience. DOE points to inexpensive wind and solar power and natural gas. Grid modernization. There are about 35 tax equity investors in solar and wind, 50 to 60 banks and new equity investors every month. Leverage up to 80%. Pricing investment grade credits up to 200bps over LIBOR, below investment grade up to 350bps. Northern Pass preferred power transmission from Canada to NH. Will be substantially completed by 3Q20 and in service by the end of 2020. Global solar capacity will pass nuclear for the first time by 2022. Global solar demand will exceed 80 GW or grow 6-8% p.a.