ACCIONA obtained €186 million in attributable net profit in the first half of 2018 (+132.1% year-on-year) due both to business growth and to the capital gains on the divestment of Concentrated Solar Power (CSP) plants in Spain and of Trasmediterranea. Excluding capital gains (€85 million), ordinary profit amounted to €100 million (+25.6%). Earnings before interest,…
DOE offers funding opportunity for advanced wind R&D concepts
The Department of Energy’s (DOE) Wind Energy Technologies Office has released a Funding Opportunity Announcement (FOA) entitled, “Advanced Wind R&D to Reduce Costs and Environmental Impacts.” This FOA will provide up to $6 million in funding to support efforts aimed at catalyzing technical and operational solutions to reduce environmental compliance costs and environmental impacts of…
CleanChoice launches a renewable energy broker program
CleanChoice Energy, a renewable energy company providing 100% clean electricity to customers across the country, has launched the CleanChoice Energy Broker Program. The new program lets energy brokers and consultants make CleanChoice’s 100% regional solar and wind power, as well as community solar products available to their business and nonprofit customers. “Commercial businesses and large…
‘Europe’s PPA Revolution’ report assesses market leaders, corporate buyers & more
When it comes to wind energy corporate power purchase agreements (PPAs), Scandinavia is indisputably ahead of the rest of Europe. In the first half of 2018, Norway and Sweden saw corporate wind PPAs signed totaling nearly 1.4 GW – a figure equal to the all the corporate PPAs signed in Europe in the whole of…
DNV GL and T-REX partner to combine financial modeling with big data for renewables
T-REX, a software solutions provider for financing of renewable assets, announced that it has partnered with Veracity by DNV GL to combine financial technology with big data across the renewables’ sector. T-REX will extend its financial modeling and analytics platform to the Veracity marketplace, bringing turnkey energy project finance solutions to this ecosystem of asset…
AMSC announces settlement with Sinovel Wind Group
AMSC a global energy solutions provider serving the wind and power grid industry, announced that it has entered a settlement agreement with Sinovel Wind Group Co. Ltd. to resolve all existing commercial disputes between the parties. Under the terms of the settlement agreement, Sinovel has agreed to pay AMSC an aggregate cash amount in Renminbi (RMB) equivalent…
BBVA seals its first green loan in the U.S. with AVANGRID
AVANGRID has entered into a $2.5 billion syndicated sustainability-linked credit facility, the biggest green loan in the U.S. to date. In doing so, AVANGRID demonstrates its commitment to combating climate change. BBVA has acted as sustainable agent and joint lead arranger for the deal. The green loan takes the form of a revolving credit facility…
EDPR secures PPAs for Illinois wind farm
EDP Renewables (EDPR), through its fully-owned subsidiary EDP Renewables North America, has secured two Power Purchase Agreements to sell the energy produced from its Broadlands wind farm project. Broadlands wind farm is located in the state of Illinois, with start of operations expected for 2019. A 15-year PPA for 50 MW has been secured with…
A reliable U.S. offshore wind supply chain needed to offset declining ITC, says new report
The higher costs for the companies that often must transport components from Europe can be significantly reduced by establishing a robust U.S. supply chain, finds a new financial report issued today by the Business Network for Offshore Wind and Société Générale, a French multi-national banking and financial services company headquartered in Paris. The report further finds…
Invenergy completes construction financing for Michigan wind farm
Invenergy, a privately held renewable energy company, announced that it has completed construction financing for its 161.3-MW Pine River Wind Energy Center in Gratiot and Isabella counties, Michigan. Rabobank, Nord/LB, and SMBC acted as joint lead arrangers for the construction loan. Rabobank acted as administrative agent and provided a letter of credit facility in support…
Invenergy files International Arbitration suit against Poland over wind projects
Invenergy Renewables, and other companies forming the Invenergy group, have submitted a Notice of Arbitration against the Republic of Poland citing violations of Invenergy’s rights as a foreign investor and clear breaches of Poland’s obligations under the United States-Poland Bilateral Investment Treaty (BIT) and international law. According to Invenergy, the case relates to Poland’s actions…
Greeneum offers world’s first blockchain-powered energy & data trading platform
Greeneum says it has created the world’s first blockchain-powered sustainable, scalable, and secure energy and data trading platform, which it believes is the first major step toward ending a global reliance on toxic and non-renewable energy sources including fossil fuels. To protect contributors and bring greater transparency to these projects, the Greeneum platform is built on the…
Who will fund the U.S. offshore wind power market… and how?
While most experts agree there should be no shortage of takers to build the offshore wind industry, it is still unclear exactly who will be stepping forward and what kinds of deals will be done.
An intro to S&P Global Ratings’ Green Evaluation
S&P Global Ratings says Mesa La Paz expects to issue in the short term new senior secured bonds for a total amount of $303 million with final maturity in December 2044 under a project-finance structure.
SheerWind’s novel INVELOX wind-turbine patent portfolio up for auction
SheerWind Inc. developed its patented INVELOX technology to increase wind speed to facilitate generation of clean energy in areas where there had previously been insufficient wind-speed to make traditional column-mounted wind turbines spin. The technology was designed to capture and funnel wind to increase the wind-speed and harvest energy from multiple turbines housed safely near…
The green bank value proposition
This article comes from global law firm, Norton Rose Fulbright. It is authored by Associate, Benjamin Grayson. Read the full version here. Green banks in six states are emerging as valuable and distinct financial partners for developers and lenders seeking to lower their costs of capital. With their deep understanding of regulatory regimes in their…
Senvion has hit its 2017 financial targets
Senvion’s product philosophy is driven by a high level modularity – with a clear roadmap to improve LCoE significantly over medium term. The turbines are more competitive, optimized for the specific projects and offer a region specific product fit. For 2018, Senvion has new products in the pipeline that will further expand its product portfolio.
K2 sees good financial news, sort of: No lack of capital but a lack of projects
Reducing the corporate tax by 14% points means there is much less financial tax equity appetite in the market under the well-known PTC and ITC (Production Tax Credit and Investment Tax Credit) regimes.
Bloomberg New Energy Finance report has suggestions for the RE100 cities
• There are a variety of ways a company can meet its clean energy targets (73% of the clean energy purchases from RE100 companies as of 2016 came from the purchasing of unbundled certificates, or utility contracts that involve the purchasing of certificates).
Pattern Energy to enter renewables’ market in Japan
Pattern Energy Group announced a series of transactions including agreements to acquire 206 MW of owned capacity in projects from Pattern Energy Group LP (Pattern Development 1.0.) and Green Power Investments. This includes an additional investment in Pattern Energy Group 2 (Pattern Development 2.0.) to fund the acquisition of a controlling interest in GPI, a…