Energy Finance and M&A

Solar & Wind
Innogy acquired from Terra Firma the US wind development business of Everpower.
Mainstream Renewable power secures mezzanine finance from Apollo for 300 MW wind power project located in Chile.
REITs as a potential source of finance for renewable and thermal power.
Invenergy secures construction finance for 132 MW Bishop Hill III located in IL from NordLB and Rabobank. Long-term PPA with WPPI.
Duke 75 MW solar PV power project located in FL and plans another 10 MW. Duke expects to install 700 MW solar PV over the next 4 years.
Enel 115 MW Riverview Wind and 31 MW Castle Rock Ridge II wind power projects 20-year RESA with AESO.
 
Thermal
Invenergy 485 Burrillville gas-fired power project located in RI challenged based on capacity requirements of NE-ISO.
Areva sell 75% interest to EDF and about 20% to Mitsubishi valuing it at EU 2.5 BN.
Exelon $60 MM to continue operating 1,250 MW Handley power project. Lenders to Exelon 5 thermal power projects exchanged debt for equity.
AES sells ownership interest in $2.4 BN 630 MW Masinloc coal-fired power for $850 MM, 335 MW Masinloc II and 10 MW Masinloc storage to SMC Global. AES sold minority stake to EGCO for $453 MM.
 
Storage
EDF, Enel and Engie invest in behind-the-meter storage. Financial market isn’t ready yet to finance most storage projects at competitive cost.
 
Latest News
153 GW expected to be installed over the next 9 years representing 58% thermal power and 42% renewables and up to $182 BN. 14 GW coal and 6 GW nuclear expected to retire over the next 10 years. Rentech wood pellet production company files for bankruptcy