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Investment fund to buy El Paso Electric; Algonquin Power to buy Bermuda Electric

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Insight Weekly: Fed's policy stance; overdrafts under scrutiny; energy stocks rally

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Q1 21 US Power Forecast

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Metals & Mining Insights May 2021

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European Energy Insights - May 2021


Investment fund to buy El Paso Electric; Algonquin Power to buy Bermuda Electric

U.S. and Canada

As El Paso stock pops on buyout, analyst wary of regulatory risk

As the market digests an investment fund's $2.8 billion cash offer for El Paso Electric Co., some are emphasizing a cautious approach to the unique transaction.

Capital Power closes acquisition of 875-MW gas plant in Ontario

Capital Power Corp. completed the C$387 million acquisition of the 875-MW Goreway power plant in Ontario from JERA Co. Inc. and Toyota Tsusho Corp.

San Francisco taps adviser for potential purchase of PG&E Corp.'s assets

The San Francisco Public Utilities Commission reportedly hired a financial adviser for its potential acquisition of PG&E Corp.'s distribution assets.

Algonquin Power to acquire Ascendant, Bermuda Electric Light for $365M

Algonquin Power & Utilities Corp. agreed to acquire Ascendant Group Ltd., including subsidiary Bermuda Electric Light Co. Ltd., for $365 million in cash.

FERC clears Noverco's acquisition of Valener

Noverco Inc. received the approval of the Federal Energy Regulatory Commission on May 31 to acquire all issued and outstanding common and preferred shares of Valener Inc. in a take-private transaction valued at C$1.2 billion, including the assumption of existing debt.

PacifiCorp gets federal approval to acquire 200-MW Wyo. wind farm

FERC on May 31 approved PacifiCorp's proposal to acquire the approximately 200-MW Cedar Springs II wind facility and related interconnection facilities from NextEra Energy Inc. subsidiary NextEra Energy Resources LLC under a build-transfer agreement. PacifiCorp is a subsidiary of Berkshire Hathaway Energy.

Duke Energy Renewables acquires 60-MW solar project in Colorado

Duke Energy Renewables LLC acquired the 60-MW Palmer Solar Park and associated assets in El Paso County, Colo., from juwi Americas for undisclosed financial terms. Duke Energy Renewables is a commercial business unit of Duke Energy Corp. and juwi Americas is a subsidiary of juwi AG.

South Jersey Industries closes portion of $350M solar asset portfolio sale

South Jersey Industries Inc. has sold additional solar sites across Maryland, New Jersey and Massachusetts, completing a portion of the divestment of its portfolio of solar energy assets to a Goldman Sachs Asset Management LP-managed entity.

Europe

Investment group offers to takeover Swiss generator Alpiq

Schweizer Kraftwerksbeteiligungs-AG has made a public takeover offer for Swiss generator Alpiq Holding AG at CHF70 per share. Schweizer Kraftwerksbeteiligungs-AG is fully owned by CSA Energy Infrastructure Switzerland, an investment group of the Credit Suisse Investment Foundation.

Dutch development bank FMO to buy 40% stake in Scatec's solar project in Ukraine

Dutch development bank FMO agreed to take a 40% equity stake in Scatec Solar ASA's under-construction Kamianka solar project in Ukraine.

EnBW wraps acquisition of French developer VALECO

German utility EnBW Energie Baden-Württemberg AG completed its acquisition of France-based solar and wind farm developer Groupe VALECO.

EnBW sells remaining 6% stake in EWE

EnBW completed the sale of its remaining 6% interest in EWE AG.

Fortum, Swedish muni restructure ownership in 2 wind projects

Fortum Oyj and Swedish municipal utility Skellefteå Kraft have decided to restructure their ownership stakes in two jointly owned wind projects in Sweden.

Latin America and Caribbean

Enel completes sale of 540-MW Brazilian renewable portfolio to Chinese company

Enel Green Power Brasil Participações Ltda. has completed the sale of three renewable projects with total capacity of 540 MW in Brazil to Chinese company CGN Energy International Holdings Co. Ltd. Enel Green Power Brasil Participações is a subsidiary of Enel SpA.