REsurety, a provider of valuation analytics and risk-management services to the buyers and sellers of renewable energy, announced that it has reached a critical corporate and industry milestone, having surpassed more than 5,000 MW of risk management transactions. Transactions closed in 2018 with Microsoft, Enel Green Power North America, Engie, Orsted, Macquarie, and several other…
Invenergy completes financing for its 300-MW Santa Rita East Wind Farm
Invenergy, a privately-held global developer and operator of sustainable energy solutions, announced that it completed construction financing on its 302.4-MW Santa Rita East Wind Farm, located approximately 70 miles west of San Angelo, Texas. The Santa Rita East Wind Farm, now under construction, is the largest wind farm Invenergy has financed to date. The company…
Corporate renewable energy deals continue to break records
Corporate renewable energy procurement has set a new single-year record for new capacity of announced wind and solar deals in 2018, the Business Renewables Center (BRC), a membership program at Rocky Mountain Institute, reported today in its updated corporate-backed renewable energy procurement deal tracker. “The record number of companies successfully pursuing renewable energy this year sends a clear…
Colorado launches Clean Energy Fund, modeled after green banks
Colorado Governor. John Hickenlooper has joined the Colorado Energy Office (CEO) and the Coalition for Green Capital to launch the Colorado Clean Energy Fund. This fund is part of the implementation of the Colorado Climate Plan, which was updated in 2018. The non-profit Colorado Clean Energy Fund will bring the “green bank” model to Colorado, drawing on the success of…
Sempra completes sale of U.S. renewable assets to Con Edison
Sempra Energy announced that it has completed the sale of its U.S. operating solar assets, solar and battery storage development projects, as well as its ownership interest in one wind facility, to Consolidated Edison, Inc. for approximately $1.6 billion in cash, subject to customary post-closing adjustments. “With the completion of this sale, we continue to build momentum toward…
Silverpeak launches renewable energy platform
Silverpeak, an alternative investment management firm focused on real estate, energy, and credit, has announced the launch of its new renewable energy platform. Silverpeak Renewables Investment Partners will provide institutional investors an opportunity to invest in power projects employing established renewable energy technologies, including wind, solar and energy storage. The new platform will be run…
Pattern Energy acquires interest in Montana’s Stillwater Wind Farm
Pattern Energy Group announced the acquisition of a 35-MW owned interest in the Stillwater Wind facility from Pattern Energy Group 2 LP (Pattern Development 2.0). Stillwater commenced commercial operations in late October and is located in Stillwater County, Montana. Here are key highlights from the transaction: The cash purchase price for Pattern Energy’s 35-MW owned interest…
NJR Clean Energy selling wind portfolio
NJR Clean Energy Ventures (CEV), a clean energy subsidiary of New Jersey Resources announced the sale of its remaining 117-MW wind portfolio, consisting of four wind farms, to a subsidiary of Skyline Renewables for a total of $208.5 million, assuming a closing of December 31, 2018. CEV entered into a purchase and sale agreement and…
GE shares infograph of its Q3 renewable highlights
GE has released its Q3 earnings and its Renewable Energy business has called out some of its performance numbers in an infographic. “According to financial analysts, by 2020, renewables will have become the cheapest form of power generation,” said GE Renewable Energy CEO, Jerome Pecresse. “It is estimated that the price for renewable energy will…
De-risking investments in energy projects
Renewable energy investment is now mainstream. The ongoing global growth of the wind power sector requires substantial investments from the international financial community and support from the insurance sector, bringing long-term opportunities for many different players. However, despite the continued successful growth of onshore and offshore wind, success cannot be taken for granted and project…
Blockchain in energy: Evolution or revolution?
Transformative disruption within the energy system from energy blockchain is only achievable if there are new regulatory frameworks and a willingness for consumers to engage, finds a new paper presented at World Energy Week. Through a series of 39 interviews with key global leaders across the energy sector, regulators, and think tanks actively engaged in…
Goldwind Americas receives tax-equity financing for Rattlesnake Wind Project
Goldwind Americas, a wholly-owned subsidiary of Xinjiang Goldwind Science & Technology Co. announced it has received tax equity financing from BHE Renewables (a Berkshire Hathaway Energy subsidiary) and Citi, for Goldwind’s 160-MW Rattlesnake Wind Project located in McCulloch County, Texas. “At Goldwind, we are steadfast in our approach to the United States and broader North American wind markets,” says David Sale,…
sPower closes $498.7 million bond deal
sPower, a renewable energy Independent Power Producer, recently closed a $498.7 million, investment grade, private placement financing. The financed portfolio represents approximately half of sPower’s 1.3 GW of operating portfolio. This financing follows sPower’s $421.4 million debt issuance against approximately 565 MW of utility-scale wind and solar assets in 2017 (a transaction that received Project Finance…
NYC to double investment funds for climate change
Mayor Bill de Blasio, Comptroller Stringer, and other trustees of New York City’s pension funds have announced a new goal to double the investments of the NYC Funds in climate change solutions to $4 billion or 2% of the city’s $195 billion pension portfolio over the next three years. To accomplish this objective, city pension…
NextEra to acquire about 1,388 MW of contracted renewable projects
NextEra Energy Partners has announced that it has entered into an agreement with a subsidiary of NextEra Energy Resources, LLC to acquire a geographically diverse portfolio of 11 wind and solar projects, collectively consisting of approximately 1,388 MW. In conjunction with the acquisition, NextEra Energy Partners also has entered into a $750 million convertible equity portfolio…
Why “fintech” is a key investment tool for wind owners
Digitalization affects nearly all stages of a wind farm’s lifecycle. Software simulations and analytics are helping wind planners and owners maximize turbine placement and project developments. Smart sensors and IoT-connected monitoring software mean wind turbines can often self-diagnose or predict component failures before they happen. It makes sense for wind owners to leverage a similar…
T-REX Founder explains “fintech” and why it’s key to wise investment decisions
In this WindTalk podcast, we discuss “fintech” with Benjamin Cohen, the Founder and Chief Executive Officer of T-REX, an enterprise software solutions provider for the complex world of financing. Fintech means financial technology, such as the digital software programs that track and support accounting and investment decisions. For example, one of the features T-REX offers…
The rise of corporate PPAs for renewable energy
Baker McKenzie‘s new report, The Rise of Corporate PPAs 2.0, summarizes the growing trend of corporates entering into renewable power purchase agreements following the release of its initial report in 2015. Corporate power purchase agreements (PPAs) are agreements whereby businesses purchase electricity directly from independent generators instead of from a utility. The structure provides economic,…
Vaisala launches new Energy Budget Outlook Service
Vaisala, a global leader in environmental and industrial measurement, has launched a new Vaisala Energy Budget Outlook service to provide independent assessment of the impact of weather on wind portfolio performance. The launch comes amid increased demand from wind energy operators for tools to more accurately forecast revenue, and for the ability to adjust these…
IFC partners with Gaia Energy to develop more wind power in Africa
IFC, a member of the World Bank Group, has forged a new partnership with Gaia Energy to create a joint platform for the development of wind power and other renewable energy projects in Africa. Gaia Energy is a Moroccan renewable energy developer active in 10 countries across Africa. The new joint platform will start with…