This article, from law firm Bricker & Eckler LLP, is authored by Dylan F. Borchers. Ohio’s largest county isn’t waiting until the uncertainty over state policy for clean energy is resolved; Cuyahoga County announced it has formed a clean energy financing hub, midwestenergynews.com reports. The hub, which will “help businesses and nonprofits find private funding for energy…
A few challenges face renewable energy capital markets
“Major reductions in carbon emissions will take a host of energy solutions,” said Tony Earley, chairman, CEO and president of PG&E Corporation and keynote speaker at the recent REFF-West event. “Optimizing those solutions will come through interconnection that only the grid can offer. And building a more dynamic grid will come through policies that support…
Apex Clean Energy secures $30 million in financing to advance projects in its pipeline
Apex Clean Energy, an independent renewable energy company, recently secured $30 million in follow-on financing from Prudential Capital Group. This latest investment follows the $50 million in financing that Apex announced with Prudential in February of this year. The proceeds of this financing will be utilized to advance Apex’s project pipeline, including project construction, development,…
RET Capital closes financing on the 102-MW Coram Wind Project in California
Renewable Energy Trust Capital, Inc. (RET Capital) announced it has closed the financing to support its recently acquired 102-MW operating Coram Wind Project from BAIF U.S. Renewable Power Holdings. The project, located in Kern County, California, benefits from long-term contracted revenues through a power purchase agreement with Pacific Gas & Electric Company to provide clean, reliable and…
SgurrEnergy supports Nordsee One offshore wind farm to financial close
Renewable energy consultancy SgurrEnergy, recently supported the Nordsee One offshore wind farm to financial close, providing technical advisory services to a consortium of international commercial lenders involved in the non-recourse financing. The 332-megawatt (MW) project, located around 40 kilometers North of the island of Juist in the German North Sea, is the first non-recourse financed …
Improving a Project’s Rate of Return
When the Department of Energy enacted the national efficiency standard for distribution-class transformers up to 2,500 kVA in 2010 (72 CFR 58190), it excluded Generator Step-Up (GSU) units. This was unfortunate because the industry continues to construct wind-collector networks with sub-optimal GSU transformers which lead to lower overall collector efficiencies, lower kWh sales, and longer…
Europe’s Financing Lessons for U.S. Offshore Developers
Turbine manufacturer Areva Wind recently won a contract worth €400 million to supply 40, 5-MW turbines for the Borkum West II offshore wind farm in the North Sea near Germany. Under the agreement with Trianel, an association of German urban electric utilities and communities, Areva will provide the turbines, commissioning, and maintenance services. Foundations, transport,…
Trends in Wind Power Operations & Maintenance
Wind turbines aren’t yet as reliable or cost effective as the industry would like them to be. What’s more, most turbines are so new, their maintenance costs are an unknown figure. According to research from UK-based Wind Energy Update, 79% of today’s fleet are still under manufacturer warranty. This is about to change. The huge…
The big guys learn financing from the little ones
Community wind projects provide a wealth of information about what works and what doesn’t when financing a utility-scale project.
A few financing lessons for renewable energy projects
At the recent Freshwater Wind conference, the President of Power Advisory LLC John Dalton spoke of financing challenges faced by several renewable-energy projects. He spoke on power purchase agreements, requests for proposals, and feed in tariffs and related the experience of projects such as Deepwater Wind off Rhode Island and Wolfe Island Shoals in Ontario,…