Macquarie Kicks off Sale of Wind Assets in Italy and France
Infrastructure fund Macquarie has kicked off the sale of its Renvico wind farm portfolio located in Italy and France worth around 400 million euros ($450 million), four sources familiar with the matter said.The Australian fund, advised by Rothschild, has sent out teasers and information memoranda will follow at the end of the month, two of the sources said.Non-binding bids are expected by the end of May, one source said, but another said no time-frame had yet been set."The equity value of the deal is around 150 million euros…
Offshore Wind Ready To Take Off in US
Up and down the East Coast, initiatives to develop a massive and largely untapped market can make sea change in American offshore wind, says the Institute for Energy Economics and Financial Analysis (IEEFA).IEEFA pointed out that the big lease sales ($405 million) last month in coastal waters off Massachusetts for three federally owned tracts that didn’t sell at an auction in 2015 signal a sea change in how U.S. offshore wind generation potential is now perceived.The winners of that auction…
DNV GL Launches Operations & Analytics Centre in India
DNV GL, the world’s largest independent energy advisory and certification body, has launched a new Global Operations & Analytics Centre for renewable assets located in Bengaluru, India.The new centre will work in tandem with DNV GL’s existing UK Operations Control Centre in Glasgow, to offer seamless 24/7 monitoring services that aim to strengthen performance and operational efficiencies of renewable assets alongside detecting, analysing and predicting failures.DNV GL’s recently published Energy Transition Outlook report forecasts that by 2050…
Sempra Energy to Shed U.S. Storage, Renewable Assets
U.S. utility Sempra Energy said on Thursday it plans to sell some of its natural gas storage and renewable energy assets and expects to record a charge between $1.47 billion and $1.55 billion during the second quarter. Earlier this month, activist investors Elliott Management and Bluescape Resources Co, who have a combined stake of 4.9 percent in Sempra, pushed for a board shakeup and strategic review at the company. The activist investors presented…
Engie Plans to Go Green
French utility Engie plans to switch all of its gas operations to biogas and renewable hydrogen by 2050, making it 100 percent green, its chief executive said on Monday. The power and gas group has some 70 biogas projects worldwide, including 40 in France, and says that if all its projects get approval its annual investment in biogas could soar tenfold to hundreds of millions of euros per year. Engie, which has sold its fossil gas activities as part of a broader restructuring…
Amarenco Acquires Renewable Energy Developer Groupe Carré
Amarenco, an independent power producer based in Ireland, has announced its acquisition of Groupe Carré, a renewable energy project developers active in France. This acquisition supports Amarenco’s strategic objectives and strengthens its position in France’s promising wind and solar energy markets. Operating under the brand name Amarenco France, the new entity has the depth of skills, experience and financial girth to quickly become one of the main vertically integrated IPPs active in the country.
Statkraft Divests Renewable Energy Assets in Four Markets
Norway's Statkraft swapped its hydropower units in Panama, Laos, Philippines and Zambia with other renewable energy assets in South America and Asia previously co-owned by a Norwegian development fund, the two organisations said on Wednesday. Statkraft acquired full ownership of hydropower, solar and wind assets in Peru, Brazil, Chile, India and Nepal from Norfund, part of its strategy to operate in fewer places but increase its ownership in different renewables.
TerraForm to Sell Some UK Solar Projects
TerraForm Power Inc, the "yieldco" of bankrupt solar company SunEdison Inc, said it would sell some UK solar projects to Vortex, the renewable energy investment platform of Egypt's EFG Hermes , for about $580 million. Shares of TerraForm Power were up 3.3 percent at $13.5 in early trading. TerraForm Power and TerraForm Global Inc, the other yieldco of SunEdison, said in September they were exploring strategic alternatives, including a sale of their entire business.
Brookfield Asset Proposes Stake in TerraForm Power
Brookfield Asset Management Inc proposed on Friday to take a 50-60 percent stake in bankrupt solar company SunEdison Inc unit TerraForm Power Inc , a week after it expressed interest in buying the unit. The cash offer of $13 for class A and class B shares of TerraForm Power is nearly in line with the class A stock's Thursday close of $13.01. The asset manager, which in June expressed interest in buying SunEdison's stake in TerraForm, said last week that it had met with the companies and their advisers to discuss options for a deal.
SunEdison's Yieldcos Exploring Strategic Options, Including Sale
TerraForm Global Inc and TerraForm Power Inc, the "yieldcos" of bankrupt solar company SunEdison Inc, said on Monday they were exploring strategic alternatives, including a sale of their entire business. TerraForm Power's shares were up 3.4 percent at $13.49 in early trading, while TerraForm Global was up 7.4 percent at $3.65. The two companies said on Monday they are also considering replacing SunEdison with a new sponsor, by negotiating new sponsorship arrangements or by assuming SunEdison's existing sponsorship agreements.
SunEdison Delays Filing Q2 Results
Bankrupt solar company SunEdison Inc on Friday joined its "yieldcos" in delaying earnings report for the second-quarter ended June 30. SunEdison is yet to file its 2015 annual repot, as well as its first-quarter report, after the company identified "material weaknesses" in its financial reporting, primarily related to problems with a newly implemented IT system. The company said the Chapter 11 bankruptcy filing also contributed to the delay. Once the fastest-growing U.S. renewable energy developer, SunEdison filed for bankruptcy in April.
Brazil's Eletrobras Hires Bank for Eletrosul Asset Sale
State-controlled power holding company Centrais Elétricas Brasileiras SA has hired an unidentified investment-banking firm to advise on a plan to sell a portion or all of a subsidiary's renewable energy assets, Chief Executive Officer José da Costa Carvalho Neto said on Tuesday. Two sources with direct knowledge of the matter told Reuters exclusively on Monday that the utility known as Eletrobras had brought in Credit Suisse Group AG to conduct the sale of several wind farms and other assets belonging to a unit called Eletrosul.
SunEdison at Risk of Bankruptcy; Shares Plummet
U.S. solar company SunEdison Inc , whose aggressive acquisition strategy has saddled it with more than $11 billion of debt, is at "substantial risk" of bankruptcy, one of its two publicly listed units warned on Tuesday. SunEdison's shares - already reeling from a Wall Street Journal report that the company was being investigated for overstating its cash position - fell as much as 43 percent in premarket trading. TerraForm Global Inc, one of two SunEdison "yieldcos"…
Enel Considering Assets Sale in Europe, Africa
Italy's biggest utility Enel SpA is looking to sell its assets in Europe and Africa to raise as much as 1 billion euros ($1.07 billion) as its growth slows amid weak demand in Italy and Spain, Bloomberg reported, citing people familiar with the matter. Debt-laden Enel is working to sell its upstream operations in Algeria, Egypt and Italy while also considering a sale of its renewable energy assets in Portugal, raising as much as 500 million euros ($533.45 million), Bloomberg said.
Enbridge to Move $14.95 bln of Canadian Assets to Affiliate, Raise div
Enbridge Inc, Canada's largest pipeline company, said it will transfer its Canadian liquids pipelines business and certain renewable energy assets to its Canadian affiliate Enbridge Income Fund Holdings Inc, and raised its quarterly dividend by a third. Enbridge said C$17 billion ($14.95 billion) of combined carrying value of assets will be transferred to the affiliate and it will retain operating responsibility for the liquids pipelines business. "Our plan ...
Enbridge to Raise Stake in Two Quebec Wind Farms
Enbridge Inc, the Canadian pipeline company building up a portfolio of renewable power projects, said on Tuesday it has agreed to pay C$225 million ($204 million) to increase its stake in two wind-power sites it co-owns with Electricite de France SA (EDF) . Enbridge will raise its ownership in the 300-megawatt Lac Alfred wind power project by 17.5 percent, bringing its stake in the eastern Quebec project to 67.5 percent. It will also raise its position in the 150-megawatt Massif du Sud site by 30 percent to 80 percent.
