Energy Finance and M&A

​Wind
55MW repowered wind project replaced 569 turbines with 27.
 
Solar PV
Solar development boom in TX. Solar industry created 51,000 jobs in 2016 to 260,000 jobs, 25% growth in the solar industry.
FL remains slow for solar PV development.
First Solar sold cash equity in 250MW Moapa Solar to Capital Dynamics, kept O&M. Tax equity from GE and GS.
Ameresco 3MW solar PV project located on landfill in MA PPA with City of Pittsfield.
Solar PV tax equity 2017 mostly partnership flips, smaller deals sale-leaseback. Structure 40% TE, 45% Back Leverage & 15% Equity. Cost of debt L+175-275bps, sub-debt 5% and higher. Tax equity capacity sufficient to finance 2017 pipeline. Successful developers selling assets @ NTP generate capital to develop projects.
ID challenges new solar PV.
National Solar Jobs Census.
 
Thermal Power
NTE Energy approved to build 1GW gas-fired generation in NC.
EU CHP 20-25% energy reduction by 2025.
MA Economic + Operating Incentives = MASSave + APS = 20-30% Installed Cost + 2.5-3.5c/kWh
Advanced energy $1.4TN global market, $200BN US market. 2016 US revenues $5BN, solar PV $25BN. Efficiency value directly proportional to gas prices.
Northeast US accounts for 40% of all new CHP installations over the last 5 years.
DOE TAP CHP Screening Tool for quantitative and qualitative analysis.
 
Oil & Gas
Canada oil sands assets sold by BP ($7.25BN) and COP ($13.3BN).
 
Latest News
Westinghouse files for bankruptcy. Renewables upper bound 20% currently 6%. Aquion battery technology viable filed for bankruptcy. National Grid proposes 1.2GW line from Canada to MA. EPA 11,000 landfill sites and 15MM acres potential for hosting solar PV. Pressure on Japan importers to execute WPPAs before tariff price falls October. Tariff for biomass-generated power falls 24 yen to 21 yen/kWh (19 cents). Engie restarts 250,000 TPY wood pellet project located in Australia. Will export pellets to Asia and the EU.