Despite staff opposition, analysts optimistic about Westar/Great Plains merger
The staff of the Kansas Corporation Commission recommended that the proposed merger between Westar Energy Inc. and Great Plains Energy Inc. be rejected for not being in the public interest. However, certain analysts are still optimistic that the state commission will approve the proposed combination.
Duke Energy closes sale of Latin American power business to I Squared Capital
Duke Energy Corp. completed the sale of its Latin American power generation business to New York-based infrastructure fund I Squared Capital, a deal worth $1.2 billion in enterprise value. "We are pleased to have closed this transaction so quickly," Good said in a Dec. 20 statement. "The sale of the Brazilian assets is expected to be completed in the near future."
Energy Future, creditors reach settlement on make-whole claims
Energy Future Holdings Corp. reached agreement in principle with certain holders of first-lien claims and second-lien claims against Energy Future Intermediate Holding Co. LLC in connection with an amended joint plan of reorganization. EFH's current plan to exit bankruptcy includes a proposal under which its approximately 80% ownership in regulated utility Oncor Electric Delivery Co. LLC would be acquired by NextEra Energy Inc. in a deal valued at $18.7 billion.
Eversource, Danish utility partner to build Mass. offshore wind project
One of the world's largest offshore wind developers, DONG Energy, is partnering with New England utility Eversource Energy to develop DONG's proposed Bay State Offshore Wind project off of Massachusetts in which Eversource has a 50% stake. In announcing on Dec. 14 the partnership between Eversource and Denmark's largest energy company to construct the offshore wind project, the companies disclosed that Eversource acquired a 50% ownership interest in the Bay State project.
Sempra unit closes $900M deal for Mexican wind farm
A Mexican subsidiary of Sempra Energy completed the acquisition of the Ventika I and Ventika II wind farms in Mexico for about $900 million, including the assumption of outstanding debt. With an installed capacity of 252 MW, the facilities are touted as the largest operating wind farm in Mexico.
Noble Environmental Power completes Chapter 11 restructuring
Noble Environmental Power LLC, after a successful restructuring of existing ownership interests, is now solely owned by Paragon Noble LLC. Paragon Noble is a special purposes vehicle with one or more funds controlled by investment firm MSD Capital LP.
Innovative Solar Systems to sell 300-MW blocks of solar farms
Innovative Solar Systems LLC placed 300-MW blocks of solar farms on the auction block in a bid to speed its expansion plans and prepare for an equity sale in 2017. The projects, which are part of the company's 10-GW pipeline in the U.S., range from 20 MW to 200 MW.
FERC clears Enel deals for 2 wind projects
Enel Kansas LLC on Dec. 20 won FERC approval to transfer its class A membership stake in the planned 200-MW Cimarron Bend and 150-MW Lindahl wind projects to its parent company, Enel Green Power North America under two separate transactions.
FERC allows Singapore fund to boost stake in DQE Holdings
FERC authorized Epsom Investment Pte. Ltd. to boost its stake in Duquesne Light Co. and Duquesne Power LLC to 44.39% from 31.01%. Financial terms of the deal were not disclosed.
RET Capital gains FERC approval to sell 102-MW Calif. wind farm
RET Holdings LLC received FERC approval to sell its 102-MW Coram wind power plant in Kern County, Calif., to a subsidiary of Consolidated Edison Development Inc. RET Holdings is a subsidiary of RET Capital, and Consolidated Edison Development is owned by Consolidated Edison Inc.
FERC clears tax equity deal for Enel wind farm in Kansas
FERC approved the proposed tax equity deal for Enel Kansas LLC's 200-MW Cimarron Bend wind project in Clark County, Kan. Enel Kansas is a subsidiary of Enel Green Power North America and is ultimately owned by Enel SpA.
NextEra Energy closes tax equity deal for Okla. wind project
Affiliates of General Electric Co. and JPMorgan Chase & Co. closed a deal to acquire all passive interest in a planned 250-MW wind project in Oklahoma from NextEra Energy Resources LLC for an undisclosed sum.
WPL to increase ownership stake in Wis. coal facility
Wisconsin Power and Light Co. is seeking FERC approval to increase its ownership interests in the 1,112-MW Columbia coal-fired facility in Pardeeville, Wis. The Alliant Energy Corp. subsidiary will gradually acquire over four years approximately 47 MW from Wisconsin Public Service Corp. and about 33 MW from Madison Gas and Electric Co.
Ormat Technologies secures tax equity deal for 5 geothermal facilities in Nevada
Ormat Technologies Inc. on Dec. 19 announced that it signed a tax equity deal with a financial investor for five geothermal power plants in eastern Nevada.
NextEra closes sale of tax equity interests in 2 N.D. wind farms
NextEra Energy Inc. subsidiaries completed the sale of tax equity interests in Nokota Wind LLC to BAL Investment & Advisory Inc. and The Bank of New York Mellon, or their affiliates, according to a Dec. 16 FERC filing.
BWX Technologies closes purchase of GE Hitachi Nuclear Energy Canada
BWX Technologies subsidiary BWXT Canada Ltd. closed its purchase of GE Hitachi Nuclear Energy Canada Inc. GE Hitachi is an alliance of General Electric Co. and Hitachi Ltd.
GE affiliate gets FERC nod for tax equity deal in Okla. wind project
FERC on Dec. 21 authorized GE Renewable Energy Holdings LLC to acquire all passive interests in Enel Green Power North America's planned 65-MW Chisholm View Wind Project II (Breckinridge) wind project. The terms of the equity investment were not disclosed.
EDP Renewables closes sale of tax equity interest in Ohio wind farm
EDP Renováveis subsidiary EDP Renewables North America closed the sale of tax equity interests in the 100.8-MW Paulding III wind facility in Paulding County, Ohio,, to Bankers Commercial Corp. and Antrim Corp. or their affiliates.