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Jacksonville, Fla., board tables utility sale; utility deal value jumps in Q1

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Jacksonville, Fla., board tables utility sale; utility deal value jumps in Q1

Jacksonville, Fla., utility board tables privatization activities

The Jacksonville, Fla., municipal utility's board of directors unanimously decided May 15 to put on hold any activities tied to possibly privatizing the entity, which could be valued at upwards of $11 billion, a move that culminates an acrimonious public debate between JEA leadership, Jacksonville's mayor and lawmakers, and local business and labor interests.

Utility deal value jumps in Q1 despite drop in transactions, PwC says

Dominion Energy Inc.'s offer to acquire troubled South Carolina utility SCANA Corp. accounted for 50% of the first quarter's total deal value for North American power and utilities, which rose 60% from the fourth quarter of 2017.

Hydro One, Avista executives keeping watch on Ontario election

Hydro One Ltd. and takeover target Avista Corp. are keeping a close eye on an upcoming provincial election in Ontario, which could see a change in philosophy toward the Canadian company's majority owner. The change in Ontario's political climate has also caught the interest of regulators in the U.S. since Avista has operations in several states.

EDP shares up 9% after China Three Gorges launches €9B takeover bid

EDP - Energias de Portugal SA shares rose more than 9% on May 14 after China Three Gorges Corp. launched a €9.07 billion all-cash tender offer for the 76.7% stake in EDP that it does not already own, the Financial Times reported. China Three Gorges owns 23% of EDP, and its bid would give it control of the Portuguese company.

Ares Management divests majority stake in 620-MW gas plant in Connecticut

Ares Management LP sold a majority stake in the 620-MW natural gas-fired Middletown Kleen Energy facility in Middlesex County, Conn., to four strategic investors for undisclosed terms.

Avangrid Renewables closes tax equity deal for wind farm stake in New Mexico

Avangrid Renewables LLC on May 3 completed transferring a 100% passive membership stake in the 298-MW El Cabo Wind Project in New Mexico to JPM Capital Corp., Bankers Commercial Corp. and Antrim Corp. The tax equity deal was one of the two transactions related to the wind project FERC authorized Dec. 1, 2017.

Allegheny Generating closes sale of 59% stake in Va. hydroelectric facility

Allegheny Generating Co. completed the sale of its 59% stake in the Bath County hydroelectric plant in Virginia to Aspen Generating LLC for net proceeds of $355 million, subject to customary post-closing adjustments, according to a May 9 regulatory filing.

Tenaska closes purchase of 289-MW gas plant in Massachusetts

Tenaska Energy Inc. closed its acquisition of the 289-MW Berkshire Power natural gas-fired plant in Hampden County, Mass., from EIF Berkshire Holdings LLC. Under the transaction, Tenaska Hampden Partners LLC acquired the controlling stake in the power plant.

Innergex becomes sole owner of 3 hydro facilities in British Columbia

Innergex Renewable Energy Inc. has become the sole owner of Creek Power Inc., which owns indirect stakes in three hydroelectric facilities, after acquiring the remaining 33.3% stake in the company from Ledcor Power Group

Innergex enters joint venture to acquire 140-MW hydro project in Chile

On the same day it announced the completion of the acquisition of interests in three hydro facilities in British Columbia, Innergex Renewable Energy Inc. said it has formed a joint venture with Energía Llaima, a renewable energy developer in Chile, to acquire a hydro project in the country.

Atlantica Yield eyes Peruvian transmission project

Atlantica Yield PLC is considering the acquisition of a transmission project in Peru through a new joint venture formed by Abengoa SA and Algonquin Power & Utilities Corp. Peru, Mexico and Chile represent the "key countries" for Atlantica Yield in terms of growth opportunities.

SolarEdge to acquire uninterruptible power supply company Gamatronic

SolarEdge Technologies Inc. on May 9 announced it will acquire Israel-based Gamatronic Electronic Industries Ltd., which specializes in uninterruptible power supply systems. After the transaction is complete, SolarEdge will rehire about 100 of Gamatronic's employees.