Dynegy reprices $2.22B ENGIE buyout loan
Lenders to Dynegy Inc. agreed to reprice a $2.22 billion term loan to help finance the generator's acquisition of ENGIE North America power plant portfolio. The loan comprises a $2 billion Term Loan C and an upsized $224 million add-on portion that will serve to refinance an existing Term Loan B due in 2020.
FERC greenlights TransCanada's sale of TC Hydro
TransCanada Pipeline USA Ltd. on Jan. 10 won FERC approval for its proposed $1.07 billion sale of its TransCanada Hydro NorthEast Inc. subsidiary to a unit of ArcLight Capital Partners LLC. Proceeds from the deal will be used by parent company TransCanada Corp. to help fund its $13 billion purchase of Columbia Pipeline Group Inc.
Merging Ontario municipal utilities reveal new name
Three Ontario municipal utilities that are combining into a new entity as of Feb. 1 revealed the new company's name on Jan. 16. The combination of Enersource Corp., Horizon Utilities Corp. and PowerStream Inc. will be known as Alectra. On Feb. 28, another utility, Hydro One Brampton Networks Inc., will be acquired for C$607 million and folded into the Alectra organization as well.
Capital One backs Nev. utility-scale solar facility
Investment bank Capital One NA agreed to invest up to $78 million in SolarReserve LLC's Crescent Dunes facility in Nevada in exchange for a tax equity stake in the project. Construction of Crescent Dunes was funded by private equity and a $737 million loan guarantee from the U.S. Department of Energy.
SunEdison to sell portfolio of wind projects mostly in Idaho
SunEdison Inc. is planning to divest an 865.5-MW wind portfolio to DIF Infra 3 US LLC. The bankrupt company, which has yet to submit a reorganization plan, initially acquired the assets from Atlantic Power Corp. in 2015. DIF Infra 3 is indirectly managed by DIF Management BV, a Netherlands-based company.
Enel unit acquires 100% stake in US energy storage developer
Enel SpA unit Enel Green Power North America Inc. acquired a 100% stake in Demand Energy Networks Inc., a company based in Liberty Lake, Wash., and will work with Demand Energy to expand deployment of the latter's Distributed Energy Network Optimization System.
Ind. regulators approve sale of AEP plant
The Indiana Utility Regulatory Commission gave its stamp of approval to the sale of AEP Generating Co.'s Lawrenceburg combined-cycle gas plant to a joint venture formed by two private equity firms.
AltaGas confirms it is in deal talks after report of negotiations with WGL
Responding to a Wall Street Journal report that AltaGas Ltd. is in talks to buy WGL Holdings Inc., the diversified Canadian energy company confirmed that it is negotiating a potential deal. AltaGas may be the second international company whose eye WGL has caught lately.
J-POWER acquires equity stake in 925-MW Pa. gas facility
J-POWER Westmoreland LLC on Jan. 11 acquired an equity stake in the 925-MW Westmoreland Generating Station from Tenaska Energy Inc. Construction of the natural gas-fueled, combined-cycle project is underway and is expected to start commercial operations by 2018.