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Big deals win key approvals in DC, Louisiana, Texas; TransCanada to offload $7B in assets

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Message in a (Word)Cloud

Six trends shaping the industries and sectors we cover in 2021

Six trends shaping the industries and sectors we cover in 2021

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Essential Energy Insights - January 2021


Big deals win key approvals in DC, Louisiana, Texas; TransCanada to offload $7B in assets

Likely surprising deal watchers, DC PSC approves Exelon/Pepco merger

The Districtof Columbia Public Service Commission on March 23 approved Exelon Corp.'s proposed acquisition of PepcoHoldings Inc., likely surprising many analysts and observers who predictedrejection of the deal. Days after the approval of the merger, the Grid2.0 Working Group asked the commission to reconsiderits decision.

In about-face, La. PSC approves Cleco acquisition by Macquarie-led investors

In anabout-face from its February decision rejectingthe deal, the Louisiana Public Service Commission on March 28 approved, 4-1, theacquisition of by a group of investorsled by Macquarie Infrastructure &Real Assets Inc.

Texas regulators approve Hunt's deal for Oncor, put off REIT tax sharingissue

The PublicUtility Commission of Texas voted 3-0 on March 24 to conditionally approve the of by a groupof investors led by Hunt ConsolidatedInc. The investor group intends to convert Oncor into a real estateinvestment trust, or REIT. How much of the tax savings the restructured Oncor mustshare with the utility's customers will be taken up and decided by the commissionduring Oncor's next rate case. Oncor is majority owned by Energy Future Holdings Corp.

Dynegy, ECP seek FERC's approval of their Atlas Power venture's $3.3Bacquisition of Engie plants

, Energy Capital Partners III LLC, Atlas Power Finance LLCand GDF SUEZ Energy North Americaon March 25 asked FERC to sign off on Atlas Power Finance's acquisition of France-based Engie's U.S. fossil fuel-fired generating plants.

CreditSights sees threat of rooftop solar as hidden driver behind utilityM&A

Utilitiesworried about the disruption of rooftop solar on long-term electric deliveries andrevenues could be looking at gas acquisitions to offset this risk. CreditSightsanalysts contend there are two primary factors behind the recent wave of M&Aactivity. The more publicized factor driving valuations is "ultra-low interestrates" and the desire to act before the Fed raises rates again.

TransCanada to sell more than $7B in assets to fund Columbia PipelineGroup buy

plans to sell morethan $7 billion of assets to fund the $10.2 billion acquisition of Columbia Pipeline Group Inc. and has engaged in order to do so,Bloomberg News reported March 23.

Hawaiian Electric acquisition wins more local support

's proposed $4.3billion purchaseof Hawaiian Electric Industries Inc.has garnered support of five Native Hawaiian organizations.

Emera moves 1 step closer to acquiring TECO Energy

The U.S.Committee on Foreign Investment has cleared EmeraInc.'s proposed acquisitionof TECO Energy Inc., accordingto a March 23 news release.

Ontario municipal distributors agree to merger, Hydro One Brampton purchase

A groupof municipally owned electricity distribution companies in Ontario has agreed tomerge and buy an affiliate of formerly government-owned Hydro One Inc. to create the second-biggest power utilityin the province.

Duke Energy Renewables adds to Calif. solar portfolio with EDF deal

has acquiredthe proposed 20-MW Longboat solar project in San Bernardino County, Calif., afteracquiring related assets from EDFRenewable Energy for an undisclosed amount. Duke Energy Renewables isa subsidiary of Duke Energy Corp.and EDF Renewable is a subsidiary of EDFGroup.

LS Power to sell Ala. gas-fired plant to Harbert Power

is its 752-MW Calhoun EnergyCenter to a Harbert Power Fund V LLCsubsidiary, according to a March 22 statement.

JPM Capital to buy passive stake in sPower solar facility

subsidiaryJPM Capital Corp. plansto acquire passive interest in the 20-MW AC Summer Solar facility in Lancaster,Calif., and is seeking FERC approval by April 26 in order to do so, according toan application filed March 22.