Southern Co. selling 2 gas utilities to South Jersey Industries in $1.7B deal
Southern Co. Gas subsidiary Pivotal Utility Holdings Inc. agreed to sell the assets of its utility operating divisions, Elizabethtown Gas Co. Inc. and Elkton Gas Co., to South Jersey Industries Inc. The $1.7 billion deal prompted mixed reactions from industry analysts while shares were pummeled. Southern Co. Gas is a Southern Co. subsidiary.
Mass. attorney general requests halt of Eversource water company acquisition
Massachusetts' attorney general has recommended state regulators reject Eversource Energy's proposed $1.68 billion acquisition of New England's largest private water utility. The $1.68 billion deal would comprise of $880 million in cash and $795 million of assumed debt from Aquarion Water Co.
Brookfield closes acquisition of 51% stake in TerraForm Power
Brookfield Renewable Partners LP and its institutional partners completed the acquisition of a 51% interest in TerraForm Power Inc., adding more than 2,600 MW of solar and wind assets primarily in the U.S. The partnership funded its commitment through available liquidity.
Eversource sells 1,200-MW portfolio to joint venture, private equity firm
Eversource Energy agreed to sell its 1,200-MW portfolio of hydroelectric and fossil-fueled power plants, primarily located in New Hampshire, to a joint venture and private equity firm in separate transactions for about $258 million.
Salt River to acquire 2 units at Ariz. gas plant, sell portion of output
The Salt River Project's board of directors approved the acquisition of two natural gas-fired generating blocks at the Gila River power station, with a total capacity of approximately 1,100 MW, for $330 million.
Texas regulators approve Sharyland/Oncor asset-swap deal
The Public Utility Commission of Texas adopted an order that lets Sharyland Distribution & Transmission Services LLC and its affiliate Sharyland Utilities LP swap their distribution business for certain transmission assets from Oncor Electric Delivery Co. LLC.
Santee Cooper CEO says bondholders, contracts could hamper utility sale
As South Carolina's governor pushes the sale of Santee Cooper, lawmakers appear in the dark on the value of the state-owned utility and are beginning to grapple with "complications" that must be considered before an agreement can be reached.
Dynegy completes sale of Illinois gas plant
Dynegy Inc. completed the sale of the 692-MW Lee County Generating Station in Illinois to an affiliate of Rockland Capital LLC for $180 million. Dynegy said that proceeds from the sale will go toward debt reduction.
Cypress Creek finds buyer for 130-MW solar portfolio in North Carolina, Oregon
Solar project developer Cypress Creek Renewables LLC has agreed to sell 14 utility-scale solar farms in late-stage development in North Carolina and Oregon to Australian investment firm New Energy Solar for roughly $108 million.
Canadian Solar to sell interests in 3 Australian solar farms to Foresight Solar
Canadian Solar Inc. entered into binding agreements to sell interests in three solar projects in Queensland, Australia, with total capacity of 117 MW to U.K.-headquartered private equity investor Foresight Solar Fund Ltd.
Emera to acquire remaining ownership stake in ICD Utilities
Emera Inc., through its Emera Utilities Holdings Ltd. subsidiary, agreed to indirectly acquire the remaining controlling stake in ICD Utilities Ltd. it does not currently own. The deal was unanimously approved by the independent directors of ICD Utilities.