NRG moving ahead with stock buyback following asset sales
NRG Energy Inc. said it netted more than $1.3 billion in cash and shed $6.7 billion in debt with the sale of its stake in NRG Yield Inc. and a renewable energy business to Global Infrastructure Partners, paving the way for NRG to complete a $1 billion stock buyback program. NRG Yield changed its name to Clearway Energy Inc., effective Aug. 31.
Clearway Energy acquires 4.7 GW of solar projects from SunPower
Clearway Energy Group agreed to acquire roughly 4.7 GW of utility-scale solar projects in development from SunPower Corp. With the financial support of Global Infrastructure Partners, Clearway has completed the acquisition of the majority of the solar projects, with the remaining acquisitions expected to close in the next two months.
Shareholder offers to back go-private deal for Canadian Solar
Lion Point Capital LP said it offered upward of $250 million to help finance a proposal by Canadian Solar Inc. Chairman, President and CEO Xiaohua "Shawn" Qu to privatize the solar panel manufacturer and power plant developer.
Casinos support initiative to end NV Energy's monopoly in Nevada
With millions of dollars flowing in campaign contributions in the battle over creating a competitive retail electric power market in Nevada, the state's major casino group endorsed passage of the Energy Choice Initiative this fall.
Old Dominion Electric approved to sell interest in Md. gas plant
Old Dominion Electric Cooperative received federal approval to sell its ownership interest in the Rock Springs gas-fired facility in Maryland to Essential Power LLC for $115 million, plus the assumption of certain related liabilities.
Invenergy closes sale of indirect ownership interests in 6 gas-fired facilities
Invenergy LLC subsidiary Invenergy Investment Co. has completed the sale of indirect interests in six gas-fired plants to AMPCI North America Thermal Power Acquisition LLC, according to an Aug. 30 filing.
SSE/NPower deal gets provisional green light from UK competition watchdog
The UK competition watchdog provisionally approved the proposed deal to merge the retail businesses of energy providers SSE PLC and NPower, two of the Big Six power and gas suppliers in the country.
Enel updates deal for sale of assets in Slovakia
Enel SpA gave an update regarding the deal between its subsidiary Enel Produzione S.p.A. and Energeticky a Prumyslovy Holding a.s. subsidiary EP Slovakia BV. The transaction's first phase was closed in July 2016, when Enel Produzione closed the sale of its 50% stake in Slovak Power, representing a 33% stake in Slovenské Elektrárne A.S.
FERC approves WEC Energy to acquire 80% stake in Illinois wind farm
The Federal Energy Regulatory Commission has authorized WEC Energy Group Inc. to acquire from Invenergy LLC an 80% equity interest in the 132.1-MW Bishop Hill III Wind Farm in Illinois.
Avista, BPA exchange assets to better comply with reliability standards
Avista Corp. is seeking approval from the Federal Energy Regulatory Commission for an asset exchange transaction with the Bonneville Power Administration. Under the transaction, Avista transferred certain equipment to BPA as consideration for the purchase of 15 miles of 115-kV transmission assets in the Airway Heights, Wash.
NH siting agency to review wind project sale to TransAlta
The proposed sale of a planned 28.8-MW Antrim Wind Energy Project (Antrim II) in New Hampshire is moving forward following the appointment of a panel by a state agency to review the sale.
Duke Energy Carolinas asks SC regulators to approve hydro sale
Duke Energy Carolinas LLC is seeking regulatory approval in South Carolina to sell five hydroelectric generation plants with a combined capacity of 18.7 MW to a privately held independent power producer for $4.75 million.
FERC approves EDF to sell tax equity stake in 2 wind farms
EDF Renewables has received approval from the Federal Energy Regulatory Commission to sell a tax equity stake in two wind farms to BAL Investment & Advisory Inc. The transaction is expected to close after the proposed July 31 effective date for each applicant's market-base rate tariff.
Foresight Group buys 14.4-MW wind farm in UK from Enertrag
Foresight Group LLP on Sept. 3 said it acquired a 14.4-MW wind farm in the U.K. from German renewables company Enertrag. Foresight said it is looking to explore more acquisition opportunities, both domestic and international, over the next six to 12 months.
American Water acquires water, wastewater systems in Missouri
Missouri American Water Company completed the acquisition of the water and wastewater systems of the city of Lawson, Mo., for $4 million. The deal adds 968 water customers and 913 sewer customers to the more than 480,000 statewide customers of Missouri American Water.