Power M&A
AEP closes $2.1B sale of Midwest facilities to ArcLight, Blackstone
American Electric Power Co. Inc. on Jan. 30 said it has completely divested four Midwest generating plants totaling 5,200 MW to a joint venture formed by private equity firms Blackstone Group LP and ArcLight Capital Partners LLC for $2.1 billion.
Ariz. co-op, ATC to develop transmission in southwestern US
Arizona Electric Power Cooperative Inc. and a branch of American Transmission Co. LLC will pair up to develop transmission projects in Arizona and the southwestern United States. The announcement of the partnership did not include potential transmission projects and representatives did not have any more information about possible projects.
BAL Investment, equity investor seek interests in 1,381-MW wind portfolio
Bank of America Corp. subsidiary BAL Investment & Advisory Inc. and another anticipated equity investor are seeking FERC approval to acquire noncontrolling interests in a wind generation portfolio with about 1,380 MW of capacity from an indirect unit of Royal Bank of Scotland Group Plc.
Study: Purchase of Puget Sound system comes with a cost, but also savings
The city of Bainbridge Island, Wash., would need an estimated $57.7 million to buy Puget Sound Energy Inc.'s electric facilities and create a municipal utility, a draft study of the idea said. Businesses and residents on the island west of Seattle in Puget Sound now get service from PSE.
Broadwind Energy to acquire NC-based gas turbine assembler
Broadwind Energy Inc. agreed to acquire Sanford, N.C.-based Red Wolf Co. LLC in a $16.5 million deal that will expand its service area and diversify its product portfolio, according to a Jan. 30 release. The companies are planning to sign a definitive agreement and close the deal Feb. 1.
Bankruptcy court clears sale of SunEdison C&I business
Bankrupt renewable energy developer SunEdison Inc. has been cleared to sell its commercial and industrial business to MyPower Corp., an investor and power project manager, for $15 million. SunEdison could generate $1.2 billion in sales proceeds.
IKEA Canada to buy 88-MW wind farm in Alberta
IKEA Canada LP reached agreements to acquire the 88-MW Wintering Hills wind facility in Alberta, Canada, from its current owners for about C$119.6 million in two separate deals, which are expected to close in the first quarter of 2017.
Calpine closes purchase of North American Power and Gas
Calpine Corp. subsidiary Calpine Energy Services Holdco LLC completed its acquisition of North American Power Business LLC and North American Power and Gas LLC for an undisclosed sum. The parties closed the transaction Jan. 17, according to a Jan. 26 FERC filing.
Highest Power Solar wins approval to build 50-MW NC facility
The North Carolina Utilities Commission approved Highest Power Solar LLC's application to build a 50-MW solar facility in Franklin County, N.C. The project, estimated to cost $100 million, is expected to come online by Dec. 31, 2018.
Waianae solar project starts supply to Hawaiian Electric
Eurus Energy America Corp.'s 27.6-MW Waianae Solar Project has become operational and will supply power to Hawaiian Electric Co. Inc. Eurus Energy America, a unit of Toyota Tsusho Corp., owns and operates the solar farm, which is on Oahu.
D.E. Shaw Renewable acquires 20-MW Conn. solar facility
D. E. Shaw Renewable Investments and Bright Plain Renewable Energy LLC formed a partnership to acquire the 20-MW Fusion Solar Center from Coronal Energy. The Sprague, Conn.-based project is expected to reach commercial operations in the fourth quarter.
FERC approves sale of power marketer American Illuminating to Premier Holding
FERC on Jan. 27 approved WWCD LLC's request to sell its entire equity interest in power marketer American Illuminating Co. to Premier Holding Corp. for $125,000. Premier Holding is the owner of Chicago-based energy solutions provider Energy Efficiency Experts.
Goldman Sachs affiliate completes equity investment in ND wind project
An affiliate of Goldman Sachs Group Inc. on Jan. 20 completed the acquisition of an indirect ownership stake in IIF US Holding 2 GP LLC's Sunflower Wind Project. FERC approved the affiliate's proposal to become tax equity investor in the facility Nov. 22, 2016.