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Fight against Exelon/Pepco deal continues; Fortis to sell minority stake in ITC

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August


Fight against Exelon/Pepco deal continues; Fortis to sell minority stake in ITC

Thenumber and size of North American power and utility deals jumped in the firstquarter of 2016 following a significant drop in activity at the end of 2015,according to PwC's North American Power & Utilities Deals report. Thereport indicates the sector saw a total of 64 deals in the first quarter, morethan double the amount of deals in the fourth quarter of 2015.

Agreat deal of capital continues to chase generation assets and project financedeals in PJM Interconnection LLCand ISO New England Inc.,resulting in what is likely to be an active asset M&A market through therest of the year and beyond, industry observers say.

TheDistrict of Columbia Office of the People's Counsel and clean energy andratepayer advocates are urging regulators to reconsider their approval ofExelon Corp.'sacquisition ofPepco Holdings LLC.

Singapore'ssovereign wealth fund GIC PrivateLtd. has agreed to acquire a 19.9% stake in for $1.23 billion.Fortis Inc. willtransfer the stake upon closing of its plannedacquisition ofthe entirety of ITC Holdings for $11.3 billion.

subsidiary ismaking a play for themid-sized commercial and industrial solar market with its of , orgroSolar, a privately held project developer.

Anindirect subsidiary of StarwoodEnergy Group Global LLC plans to acquire two generating facilitiesin Sutter County, Calif., from Greenleaf Energy Holdings LLC for an undisclosedamount.

andinfrastructure investment firm FirstReserve Management LP on April 21 won FERC approval to sellupstream membership interests in the 120-MW Comanche solar farm in PuebloCounty, Colo.

's hassold the NewBoston Generating Station in South Boston, Mass., to andRedgate Real Estate Advisors LLC.

's onApril 20 won FERC approval to purchasethe 40-MW Passadumkeag Mountain wind project in Bangor, Maine, for anundisclosed amount. Southern Power is a subsidiary of

hasagreed to invest in a planned 14-MW DC utility-scale solar project in MiyagiPrefecture, Japan, according to an April 25 release.

FERCon April 22 approved JPM Capital Corp.'s purchase of passive stake in theplanned 20-MW AC Summer Solar power project in Los Angeles County for anundisclosed sum. Summer Solar is owned by sPower, which is legally known asSustainable Power Group LLC.

has made aone-time payment of $10.0 million to settle disputes arising from thetermination of a $733 million dealbetween SunEdison Inc.and Latin America Power Holding BV, according to a Form 8-K filed April 21.

SPowerFinCo 2 LLC has transferred class B ownership of the 20-MW AC Central AntelopeDry Ranch C solar plant in Los Angeles County, Calif., to its affiliate SPWSolar Holdings 2 LLC, according to an April 19 notification to FERC. SPowerFinCo 2 and SPW Solar Holdings 2 are ultimately owned by sPower, which islegally known as SustainablePower Group LLC.