Equis $1.2BN Wandoan South Solar Project expected online 2019. Traditionally coal-dominated economies reverting to clean energy. In Australia, 38 solar PV power project in operation representing 411 MW and 29 under construction representing 1,678 MW.
Solar PV developers selling YieldCo stakes to simplify value. Developers have taken on interest only debt to fund expansion. Increased interest rates might lead to less future cash distributions.
Moodys suggests DOE grid report "will not save coal". 37.8 GW of coal retirements by 2022 and another 4.4 GW by 2030. 20 GW of natural gas capacity coming online by 2020 to replace retiring coal-fired generation.
US EV/EBITDA 11.9x. Buyout firms have $600 BN to invest. Transactions executed at 11x earnings. Oil price outlook $50-60/bbl. Building sector acquisition 16x EBITDA, sale 8.6x EBITDA. Southern recommends Vogtle plant should be completed. Needs another $1.4 BN to complete and will cost $19 billion by the time it comes online in 2021. Renewable energy company IPO first for sector in 10 years. ContourGlobal IPO in the UK expected to raise $1BN. 21 renewable energy companies listing and raising $4.7 BN, up from $761.1 MM from 14 IPOs in the previous year. Invesco acquires the ETF business of Guggenheim that manages $36 BN in assets for $1 BN. AE Industrial Partners acquired BHI Energy, a provider of O&M services for the power-generation industry, from Harvest Partners. Merger to create largest utility company at $270 BN. 2nd biggest company by revenue. Installed capacity of 225 GW, EDF 137.5 GW and Enel 83 GW. Macquarie Infrastructure Partners raised more than $3.3 BN for its 4th fund. Dow and DuPont complete $130 BN merger, CEO proudly Australian. Impact of Hurricane Harvey likely on energy market. No predictions on future energy prices in the US. White House requests $5.9 BN for recovery efforts. More likely impact markets that rely on US oil in Asia and Mexico.
(1) ERCOT load in the storm-affected areas down by more than 30%.
(2) Houston and Galveston load down 5,485 MW, or almost 41%.
(3) Austin and San Antonio load down 1,121 MW, or more than 15%
(4) Southern weather region down 806 MW, or more than 22%.