Category: News America

KKR and PSP Investments secure minority ownership in American Electric Power transmission firms

KKR and PSP Investments secure minority ownership in American Electric Power transmission firms

January 15, 2025 | ,

Investment funds managed by KKR and the Public Sector Pension Investment Board (PSP Investments) inked an agreement to acquire a 19.9 per cent stake in American Electric Power’s (AEP) Ohio and Indiana & Michigan transmission companies for $2.82 billion. This investment will enable AEP to address growing customer demand and improve grid reliability. Furthermore, KKR and PSP Investments have formed a 50/50 strategic partnership to complete the acquisition.

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DOE grants $1.67 billion loan to Montana Renewables for renewables fuel in US

DOE grants $1.67 billion loan to Montana Renewables for renewables fuel in US

January 15, 2025 | , ,

The Department of Energy’s (DOE) Loan Programs Office (LPO) has announced the closing of a $1.67 billion loan guarantee to Montana Renewables, LLC (MRL). This amount includes $1.44 billion in principal and $233 million in capitalised interest. The loan will support the expansion of a renewable fuels facility in Montana, enabling the production of sustainable aviation fuel (SAF), renewable diesel, and renewable naphtha. The facility will utilise vegetable oils, fats, and greases to produce cleaner fuels.

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CIB invests $224.2 million in Port Hawkesbury Paper Wind project

CIB invests $224.2 million in Port Hawkesbury Paper Wind project

January 10, 2025 | , ,

The Canada Infrastructure Bank (CIB) has decided to provide $224.2 million as a loan to Port Hawkesbury Paper Wind Ltd for developing a large-scale wind energy project. Additionally, this funding will support 13 Mi’kmaw First Nations, through Wskijinu’k Mtmo’taqnuow Agency Ltd. (WMA), in acquiring a 10 per cent stake in the project. Furthermore, Goose Harbour Lake Wind Farm will support Port Hawkesbury Paper’s energy requirements and Nova Scotia’s transition to clean power. 

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Grenergy secures $324 million financing for Oasis de Atacama battery project in Chile

Grenergy secures $324 million financing for Oasis de Atacama battery project in Chile

January 9, 2025 | , ,

Grenergy has secured approximately $324 million in financing for a battery project Oasis de Atacama. The company has secured this financing for phase four of the project named Gabriela from international financial institutions BNP Paribas, Natixis Corporate & Investment Banking, Société Générale, Bank of Nova Scotia, and SMBC. This phase has an estimated capacity of 269 MW of solar and 1.1 GWh of storage.

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Port of Açu and Yamna ink land agreement for green ammonia plant in Brazil

Port of Açu and Yamna ink land agreement for green ammonia plant in Brazil

January 9, 2025 | , ,

Port of Açu Operações (Port of Açu) and Yamna Co Ltd (Yamna) have inked a land reservation agreement for the development of a green ammonia project. This agreement is inked for a new hub for low-carbon hydrogen and its derivatives in the port industrial complex of Port of Açu in the northeast of Rio de Janeiro State. As part of this agreement, the Port of Açu is reserving two million square meters for green hydrogen projects.

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ContourGlobal acquires solar plus storage project in US

ContourGlobal acquires solar plus storage project in US

January 3, 2025 | , , ,

ContourGlobal has acquired a solar plus storage project in US. The project is currently in its advanced stage and will be developed in two phases. It will feature a combined capacity of 567 MWp of solar PV and 321 MW/1.3 GWh of BESS. Once completed, it will provide a total hybrid capacity of 888 MW. Furthermore, the project is connected to Arizona’s WAPA grid and includes firm transmission rights to deliver power to CAISO.

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Innergex inks EPA with BC Hydro for wind project in British Columbia

Innergex inks EPA with BC Hydro for wind project in British Columbia

January 2, 2025 | , ,

Innergex Renewable Energy has partnered with West Moberly First Nations and inked a 30-year electricity purchase agreement (EPA) with BC Hydro for the Stewart Creek wind project. The 200 MW community wind project is located approximately 60 km east of Innergex’s Dokie Wind Farm, in British Columbia. West Moberly First Nations holds a 51 per cent stake in the project, while Innergex owns 49 per cent. 

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Vistra connects two solar plants to the grid in Illinois

Vistra connects two solar plants to the grid in Illinois

December 30, 2024 | , ,

Vistra has announced the connection of two new utility-scale solar projects in Illinois to the grid. This is done to amend the retirement schedule for its 1,185 MW Baldwin Power Plant in Baldwin, Illinois. The plant, initially set to retire in 2025, will now operate until 2027 while adhering to federal Environmental Protection Agency retirement and pond closure obligations.

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Enlight Renewable Energy secures financing for solar and energy storage projects in US

Enlight Renewable Energy secures financing for solar and energy storage projects in US

December 26, 2024 | , ,

Enlight Renewable Energy Ltd. has secured debt financing for the Roadrunner project located in Arizona, US.  As a part of this debt financing, Enlight through its subsidiary Clenera Holdings LLC, has entered into a $550 million loan agreement with four global banks: BNP Paribas Securities Corp, Crédit Agricole, Natixis CIB, and Norddeutsche Landesbank Girozentrale (Nord/LB). This financing is expected to convert into a $290 million term loan and $320 million in tax equity funding upon the project’s COD.

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LG Energy Solution Vertech to supply 7.5 GWh energy storage to Excelsior Energy Capital

LG Energy Solution Vertech to supply 7.5 GWh energy storage to Excelsior Energy Capital

December 24, 2024 | , ,

LG Energy Solution Vertech has inked a multi-year agreement with Excelsior Energy Capital to deliver 7.5 GWh of fully integrated lithium-ion energy storage projects. These projects will be supported by integration and lifecycle services provided by LG Energy Solution Vertech. Under this agreement, all projects will meet the US domestic content requirements. The first delivery is scheduled for April 2026.

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Atlantica acquires 1.1 GW solar and wind projects in US

Atlantica acquires 1.1 GW solar and wind projects in US

December 23, 2024 | , ,

Atlantica Sustainable Infrastructure has completed the acquisition of a development platform in US. The platform includes around 1.1 GW of solar and wind projects under development in the MISO and SPP regions. It also includes projects in Illinois, Colorado, Mississippi, and Texas. Furthermore, with this addition, Atlantica’s development portfolio in the US now comprises approximately 2 GW of solar and wind projects and 8.5 GWh of storage capacity.

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CIP acquires majority stake in ABO Energy’s wind & hydrogen project

CIP acquires majority stake in ABO Energy’s wind & hydrogen project

December 19, 2024 | , , ,

Copenhagen Infrastructure Partners (CIP) has acquired a majority stake in the Toqlukuti’k Wind & Hydrogen project through its Energy Transition Fund (CI ETF I). This is a large-scale onshore wind and hydrogen project located in Newfoundland & Labrador, Canada. The stake was acquired from Germany-based renewable energy developer ABO Energy, which will remain involved as a minority shareholder and co-developer of the project.

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bp and JERA to form offshore wind JV 

bp and JERA to form offshore wind JV 

December 11, 2024 | , ,

bp and JERA have agreed to merge their offshore wind businesses to form a new, equally-owned joint venture (JV) called JERA Nex bp. This venture will have a total potential net generating capacity of 13 GW and will manage a balanced portfolio of operational assets and development projects.

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National Grid Renewables inks PPA with IMEA for 150 MW solar project in Illinois

National Grid Renewables inks PPA with IMEA for 150 MW solar project in Illinois

November 25, 2024 | , ,

National Grid Renewables has finalised a power purchase agreement (PPA) with the Illinois Municipal Electric Agency (IMEA) for the 150 MW Bee Hollow solar project, located in St. Clair County, Illinois. Construction is expected to begin in 2025, with Bee Hollow expanding the company’s operational solar portfolio in Illinois to 350 MW, including the previously announced Prairie Wolf solar project in Coles County.

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ACCIONA Energía divests 626 MW hydro portfolio to Endesa 

ACCIONA Energía divests 626 MW hydro portfolio to Endesa 

November 19, 2024 | , ,

ACCIONA Energía has agreed to sell its entire stake in, Corporación Acciona Hidráulica S.L., to Endesa for €1 billion. This deal will generate €620 million in capital gains for ACCIONA Energía and is expected to close in the first half of 2025. Corporación Acciona Hidráulica, S.L. owns and operates 34 hydroelectric power plants in Spain, totaling 626 MW of installed capacity.

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Avantus sells Catclaw solar and storage project to DESRI

Avantus sells Catclaw solar and storage project to DESRI

November 5, 2024 | , , ,

Avantus has announced the sale of the Catclaw Solar and Energy Storage Project to D.E. Shaw Renewable Investments (DESRI). Located in Buckeye, Arizona, the Catclaw project includes up to 225 MWac of solar power and 250 MW/1,000 MWh of energy storage. This transaction also includes a long-term Power Purchase Agreement (PPA) with Arizona Public Service (APS). 

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