Nephila Climate (NCx), the weather and ESG-driven specialty division of Nephila Holdings Ltd. announced the first use of a Proxy Revenue Swap (PRS) for the re-powering of a wind project. Ares Management Corporation, a global alternative asset manager, is the first to use the PRS structure for a repowered project. A PRS is a hedging contract that…

Ares Management Corporation announced that a fund managed by its Infrastructure and Power strategy has closed on the acquisition of three operating utility-scale wind facilities in Texas from BP Wind Energy North America, Inc. Ares plans to repower the wind sites. The acquisition includes two wind facilities located in the ERCOT West region: the 145-MW…