El Paso Electric acquisition by JP Morgan-advised fund lands at FERC
El Paso Electric Co. filed with the Federal Energy Regulatory Commission for approval of its acquisition by an investment fund for an enterprise value of about $4.3 billion, including the Texas utility's net debt.
Seeking Texas acquisition approval, El Paso Electric offers $21M bill credit
El Paso Electric Co. offered $21 million in bill credits for customers as the utility seeks approval from the Public Utility Commission of Texas for its $4.3 billion acquisition by a J.P. Morgan Investment Management Inc.-advised investment vehicle.
Suitors eye Pattern Energy as clouds gather over US wind market
Pattern Energy Group Inc., a power producer with wind farms across North America, is fielding takeover interest ahead of a potential market slowdown in the U.S. The company confirmed Aug. 13 that it is responding to "interest from third parties."
Emera's US$1.3B sale in progress
Emera Inc. said the US$1.3 billion sale of its Emera Maine subsidiary to city of Calgary-owned ENMAX Corp. is progressing and is expected to close before the end of 2019.
Xcel Energy seeks FERC approval to acquire Colo. gas-fired plant
Public Service Co. of Colorado is seeking federal approval for its proposed acquisition of the Manchief gas-fired generating station in Morgan County, Colo., with a nameplate capacity of 301 MW from Atlantic Power Corp. for $45.2 million that the parties announced May 28.
TerraForm Power looking to sell stakes in North America wind farms
TerraForm Power Inc. is looking to sell minority stakes in North American wind farms to recycle capital for more lucrative investments, CEO John Stinebaugh said Aug. 9, though he did not identify which assets will be put up for sale. A deal is not likely to close until early 2020, the CEO added.
NRG completes purchase of Stream's retail energy business
NRG Energy Inc. subsidiary NRG Retail LLC completed its acquisition of Stream Energy's retail electricity and natural gas business for $300 million, plus working capital.
Shell gets FERC approval to exit stake in 264-MW wind project
Royal Dutch Shell PLC subsidiary Shell WindEnergy Inc. secured federal approval to sell its 50% interest in the 264-MW NedPower Mount Storm wind farm in Grant County, W.Va., to an affiliate of Castleton Commodities International LLC.
Pattern Energy gets FERC approval to sell interest in 221-MW wind farm
Public Sector Pension Investment Board and Pattern Energy Group Inc. received approval from the Federal Energy Regulatory Commission to acquire indirect upstream membership interests in the 221-MW Grady Wind Energy Center from Pattern Energy Group 2 LP.
FERC approves Southern Power's indirect control over Diamond State Generation
The Federal Energy Regulatory Commission on Aug. 6 approved the transfer of indirect control over Diamond State Generation Partners from Bloom Energy Corp. to a subsidiary of Southern Power Co.
Simon Solar seeks FERC approval for new financing arrangement
Simon Solar Farm LLC is seeking the Federal Energy Regulatory Commission approval for a new financing arrangement for a 30-MW solar farm in Social Circle, Ga. Simon Solar Farm, an indirect subsidiary of Silicon Ranch Corp., will retain operation and control of the facility throughout the transactions.
FERC approves PNM to acquire 345-kV Western Spirit transmission line
The Federal Energy Regulatory Commission on Aug. 8 approved Public Service Co. of New Mexico to acquire the 345-kV Western Spirit renewable transmission project from an affiliate of Pattern Energy Group 2 LP.
Spark Power Group completes acquisition of 3-Phase Electrical
Ontario-based Spark Power Group Inc. completed its acquisition of 3-Phase Electrical Ltd. for C$15.8 million, accelerating its expansion across Canada. Spark Power made an C$11.1 million cash payment at deal closing, issued a C$3.8 million promissory note and 887,574 common shares to certain vendors.
Greenbacker Renewable Energy acquires 9.27-MW solar portfolio
Greenbacker Renewable Energy Co. LLC purchased the rights to a 9.27-MW solar portfolio in Oregon from a BNRG Renewables Ltd. subsidiary for an undisclosed amount.
Iberdrola inks £1.63B deal to off-load 40% stake in UK offshore wind farm
Iberdrola SA subsidiary ScottishPower Renewables (UK) Ltd. reached a deal to sell a 40% interest in the East Anglia One offshore wind project in the U.K. to Macquarie Group Ltd.'s Green Investment Group Ltd. for £1.63 billion, or about €1.75 billion.
SSE confirms talks with Ovo for sale of UK retail business
SSE PLC confirmed it is in discussions with Ovo Group Ltd. over the possible sale of its household energy division. It was recently the target of a failed merger with German utility innogy SE's retail unit.
CEZ eyeing more divestments in southern Europe after Bulgarian exit
Czech utility CEZ a. s. is looking at selling its generation and distribution assets in Romania, Poland and Turkey by the end of 2022 as part of a wider exit from southern European that recently saw it divest its Bulgarian business.
Report: Brookfield scraps plan to buy majority stake in India's Suzlon
Canadian asset manager Brookfield Asset Management Inc. walked out of talks to potentially buy a majority interest in Suzlon Energy Ltd. after a disagreement with the Indian wind turbine supplier's lenders on valuation, The Economic Times of India reported Aug. 7.