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May 2013
The European Development Fund has signed a Eu16 million loan with the East African Community for the Rwanda-Burundi transmission line project.
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The IFC has invested $20 million in asset management firm Armstrong’s South East Asia Clean Energy Fund.
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Bangchak Solar Energy, a subsidiary of Bangchak Petroleum, has closed a roughly Bt1.8 billion ($60 million) financing for two PV portfolios in Thailand.
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Cennergi has reached financial close on the 138.6MW Amakhala Emoyeni phase 1 wind project in South Africa’s Eastern Cape.
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Gauss Energia has closed a more than $75 million project financing for the 30MW Aura solar photovoltaic project – the first large-scale solar project in Mexico.
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Asset management firm Armstrong’s South East Asia Clean Energy Fund has acquired a 60% share in a 30MW Thai solar portfolio being developed by Symbior Energy.
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NextEra Energy Resources has mandated BTMU, CoBank, Sabadell, Siemens Financial Services and SMBC for the 163.2MW North Sky River wind project in the US.
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EquiPower Resources is targeting pricing of 350bp over Libor for a $610 million term loan facility for the aquisition of two power stations from Dominion Resources.
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Renovalia Energy is talking with Bancomext, Banorte, BBVA, La Caixa, Nafinsa and Sabadell about $250 million in debt for its Piedra Larga wind project in Mexico.
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The provincial government of Quebec has decided to procure 800MW of new wind projects, 450MW of which will be tendered to communities and IPPs.
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An ACWA-led consortium is now expected to reach financial close on the $2.4 billion Rabigh 2 independent power producer project at the end of June.
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Export-Import Bank of Malaysia has signed a $24.4 million loan agreement with Senagan to support a new $30.7 million hydropower project in Indonesia.
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Terra-Gen Power has mandated Union Bank to assemble a $550 million to $650 million debt package for the tenth and eleventh phases of its Alta wind project.
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NextEra Energy Resources has increased the size of the dividend recapitalisation for its La Frontera gas-fired power portfolio and reduced its pricing.
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A decrease in projected merchant power prices in Italy will weaken the financial metrics on the Andromeda solar photovoltaic project bond financing.
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Kenyan developer Aeolus plans to sign financial documents and then sell a majority stake in its 61MW Kinangop wind project in July.
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Thailand’s Energy Regulation Commission has received just nine responses for the third round of its auction for independent power producers.
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The government of Nepal has signed a loan agreement with the European Investment Bank for Eu55 million ($71.5 million) for the 140MW Tanahu hydropower plant.
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EGCO plans to increase its installed capacity of renewable energy to more than 300MW by 2015
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Developers of the 19 solar, wind and small hydro project which make up the second round of renewables programme in South Africa have reached financial close.
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Starwood Energy and Fiera Axium Infrastructure have mandated BTMU, Natixis and Nord/LB to round up C$200 million of debt for 40MW of solar PVs in Ontario.
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Dalkia and Fengate have mandated five banks to finance the 33MW Fort St. James biomass project in British Colombia.
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Green Power, the privately-owned Thai developer, has signed an agreement with the government of Myanmar to develop a new 210MW solar power project.
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The African Development Bank (AfDB) has approved a $149.5 million loan to the 310MW Lake Turkana wind project in Kenya, and launched the remaining debt requirement to other lenders.
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Regional interest in newly-rehabilitated Myanmar is intense, especially from potential advisers. Despite recent reforms, government will need to overcome decades of turmoil and underinvestment. By Antony Collins
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CIT has closed a $26 million senior secured credit facility to an affiliate of Citizens Energy for a portfolio of solar photovoltaic (PV) projects in Massachusetts.
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Foresight Group has closed a £60 million ($93 million) bond issue for a four-strong 15.7MW UK solar photovoltaic portfolio.
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The Korean consortium overseeing the development of a 500MW gas-fired power plant in Myanmar has appointed Mizuho as financial adviser.
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Denham Capital, the energy-focused private equity firm, has invested $75 million equity in a 1GW portfolio of Australian wind projects currently under development.
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The Jordanian government is now evaluating 12 large solar photovoltaic power project proposals with a combined capacity of 600MW
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An influx of foreign project debt and equity would help reverse Egypt’s downward economic spiral. But political infighting and constrained local debt markets mean that Egypt’s project finance market is going nowhere fast. By Emma Lindsay.
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Energy Management (EMI) is talking with Natixis and Rabobank about part-financing the first phase of its 468MW offshore Cape Wind project in Massachusetts.
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Transelec is nearing financial close on a $150 million loan for a 220kV transmission line to the Caserones copper mine in Chile.
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Starwood Energy and Fiera Axium Infrastructure are discussing with lenders a financing of around C$200 million for 40MW of solar photovoltaic projects in Ontario.
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Malaysian NGV and Jeffa Holdings are speaking to local banks about financing the R6 billion 1 Gas Clean Energy for All regasification plant in Johor, Malaysia.
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Bank of America Merrill Lynch has launched a $1 billion term loan B financing for NextEra Energy Resources' La Frontera generation.
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An ACWA-led consortium has signed the $1 billion debt facility for a 160MW first stage of the Ouarzazate concentrating solar power (CSP) project in Morocco.
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MPX Energia has agreed to a multi-year offtake agreement to sell generation from its planned 56MW gas-fired project in Brazil to a Kinross-owned mine.
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The Ohio Power Siting Board has approved the proposed expansion of Tenaska’s Rolling Hills gas-fired peaker to a 1,414MW power station.
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Abu Dhabi state-owned developer Masdar and the UK Green Investment Bank have signed a memorandum of understanding to invest in UK infrastructure projects.
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AES Gener brought in Mitsubishi as a co-sponsor of the Cochrane power plant in Chile, giving it access to cheap Japanese ECA and commercial bank debt.
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The Cape Wind offshore project comes to market 12 years after its announcement, and seven years after the first offshore wind project financing. Can it close in a shorter timeframe? Brian Eckhouse reports.
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Dynegy has sold the 1,200MW Roseton oil- and gas-fired plant in New York to a subsidiary of Castleton Commodities International.
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Soitec has closed a R1 billion ($107 million) bond refinancing of the debt on its Touwsrivier solar photovoltaic project in South Africa.
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EquiPower resources has agreed to buy a 50% stake in the Elwood gas-fired peaking power plant and all of the Kincaid coal-fired plant from Dominion Resources.
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Ormat Technologies has signed a power purchase agreement with the Southern California Public Power Authority for its Wild Rose geothermal project in Nevada.
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April 2013
Terna Rete Elettrica Nazionale has approached the EIB for a Eu570 million loan to part-finance an upgrade to Italy’s electricity transmission system.
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GMR Infrastructure has signed on the debt for its Hydel power plant project located in Chamba, Himachal Pradesh, India.
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Alterra and Greenbriar Capital have launched a joint venture to develop 100MW of solar generation in Puerto Rico.
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French developer Sarreole is still negotiating the power purchase agreement for its 125MW Taiba N’Diaye onshore wind farm in Senegal.
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The SMart Wind consortium has signed a lease agreement with the UK government for the construction of two offshore wind farms.
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MidAmerican is talking with Barclays, Citigroup and RBS about leading a bond financing for at least part of its 579MW Antelope Valley solar photovoltaic projects.
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Kuwait’s Partnership Technical Bureau has asked developers for expressions of interest in the second phase of the Az Zour North IWPP.
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Crédit Agricole, Mizuho and SMBC have joined a $350 million financing for Sempra US Gas & Power’s Copper Mountain solar photovoltaic project in the US.
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Northland Power and Mnidoo Mnising Power are expected to launch a financing this quarter for its 60MW McLean’s Mountain wind project in Ontario.
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Ncondezi Coal Company has signed a power framework agreement with the Mozambique government for its 300MW Ncondezi power project.
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Global Infrastructure Partners and Fortistar have launched a $420 million refinancing of their Channelview cogeneration plant in the US.
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Odebrecht has convinced lenders to extend a bridge loan through late May for its Chaglla hydro project in Peru, ahead of a $790 million debt financing.
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Africa Geothermal International Limited (AGIL) has signed a 25-year power purchase agreement with Kenya Power for the 140MW Logonot geothermal plant.
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The Los Angeles Department of Water and Power (LADWP) has approved a power purchase agreement for Ormat Technologies’ Wild Rose geothermal project.
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Soitec is launching a R1 billion ($107 million) bond issue to refinance the debt on its Touwsrivier solar photovoltaic project in South Africa.
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Italian wind developer ERG has closed a Eu35 million ($45.4 million) project financing for its 22.5MW Amaroni wind farm.
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Solar Project Solutions has closed an $80 million financing for its 20MW Atwell Island solar photovoltaic project in the US.
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Swedish developer Index Energy has mandated National Bank Financial to raise C$50 million for the first 18MW phase of its Ajax biomass project in Canada.
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Boralex and Gaz Métro are discussing with insurance companies and banks a roughly C$140 million financing for a 69MW phase of its Seigneurie de Beaupré wind project in Canada.
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Brazil’s hydro and biomass sectors are wilting before the onslaught of wind capacity additions. So why are wind developers not happy? John Rumsey reports from São Paulo.
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Transelec has mandated BTMU and SMBC to lead a $150 million financing for a 220kV transmission line to the Caserones copper mine project in Chile.
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A GDF Suez-led consortium may not reach financial close on its 1,320MW Safi independent power producer project until 2014.
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Orange Renewable Holdings has reached financial close on its 19.5MW Daloth wind project in Rajasthan, India.
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Hannon Armstrong is planning to list specialty finance company Hannon Armstrong Sustainable Infrastructure Capital on the New York Stock Exchange on Thursday.
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The Abu Dhabi Water & Electricity Authority (ADWEA) has called in the three lowest bidders for the Mirfa independent water and power project for clarification meetings.
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Thai solar developer Solarco has closed on an $192 million equivalent debt financing to fund the construction of a three-strong solar photovoltaic portfolio.
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Chexim closed a $313 million financing on 10 April for the 270MW Minas-San Francisco hydro generation project in Ecuador.
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MidAmerican has priced $250 million 26-year Series B senior secured notes for its Topaz Solar Farms portfolio at 308.2bp over US Treasuries
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Transmission Capital Partners, is considering different funding options for the UK-based Lincs offshore transmission project.
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Rajasthan Renewable Energy Corporation Limited has awarded seven developers concessions to build 75MW of solar power plants in Rajasthan, India.
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K Road Energy has mandated Prudential and Santander to raise $550 million in debt for its 250MW Moapa solar photovoltaic project.
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Moxie Energy and EmberClear are talking to private equity investors about raising equity for their gas-fired projects in Pennsylvania.
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SOLEIR, a wholly-owned subsidiary of Red Sky Energy, is planning a new 100MW solar PV in New South Wales, Australia.
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Duke Energy Renewables has acquired a 21MW solar photovoltaic portfolio near Twentynine Palms, California, from SolarWorld.
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Industry Funds Management (IFM) has launched a $550.7 million term loan B for its Essential Power portfolio in the US.
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An ACWA-led consortium is less than a week away from reaching commercial close on the $2 billion Rabigh 2 independent power project in Saudi Arabia.
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Greengate Power has sold the 300MW Blackspring Ridge wind project in Canada to Enbridge and EDF, which will each own 50% stakes.
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Invenergy has closed a project financing for a 20MW solar photovoltaic portfolio in Ontario – its first solar projects in the province.
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FPM Power Holdings has closed the S$660 million ($537 million) acquisition of GMR Infrastructure’s 771MW gas-fired power plant in Singapore.
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Portugal-based Martifer Solar has closed the sale of five recently commission solar photovoltaic plants in the UK.
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MidAmerican Energy is preparing to launch $250 million in 26-year Series B senior secured notes for its 586MW Topaz Solar Farms portfolio.
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A consortium led by iCON Infrastructure has closed the financing for a £70 million combined heat and power (CHP) plant in Beckton, east London.
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A joint venture between Mitsuuroko Group and Recycle One has signed the Y3.8 billion financing for its 14.8MW Itako solar photovoltaic power plant in Japan.
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The Neelum-Jhelum hydropower project in Pakistan is struggling to attract the required commercial debt commitments it needs to proceed with construction.
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A consortium led by MPX Energia has closed the acquisition of the Nova Venecia thermal power project in Brazil for R50 million ($25 million).
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NRG has closed a fully underwritten $80 million dual-tranche financing for its 26MW Borrego solar photovoltaic project.
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GE Energy Financial Services has acquired a 51% stake in the 250MW Buffalo Dunes Wind project in Kansas.
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A consortium led by Medco has finally signed a power purchase agreement for its 330MW Sarulla geothermal power plant in Indonesia, after almost seven years of negotiations.
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Invenergy is talking to lenders about a debt financing for its 95MW Stony Creek wind project in Wyoming county, New York.
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Fred Olsen Renewables closed a £151 million debt package on 3 April for two wind projects in Scotland.
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Standard Bank has signed an agreement with its largest shareholder, ICBC, to provide an additional
R20 billion to the South African renewable energy independent power producer (REIPP) programme.
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Malta's government and state utility Enemalta will issue a request for expressions of interest next week for a new 200MW combined-cycle gas turbine plant and associated liquefied natural gas terminal.
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Dynegy is planning to issue a $1.8 billion debt package, featuring $1.3 billion in term loan B facilities and a $500 million revolving credit facility.
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Pattern Energy is planning to launch a financing within two months for the 149MW Grand Renewable wind project in Ontario.
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The Overseas Private Investment Corporation (Opic) has approved $288 million in debt for wind projects in Peru and Pakistan.
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Consolidated Edison Development is nearing close on an approximately $220 million bond issue for a 110MW solar photovoltaic portfolio in the US.
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Northland Power has agreed to co-develop the 100MW Grand Bend wind project with the Aamjiwnaang and Bkejwanong First Nations.
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JAG Energy, a subsidiary of Japan Asia Group, has closed the financing for its 5.5MW solar photovoltaic project in Hokkaido.
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First Solar has acquired the 150MW Solar Gen 2 photovoltaic project in Imperial Valley, California.
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The Inter-American Development Bank has approved a $41.4 million loan package for Solarpack’s Pozo Almonte and Calama PV projects in Chile.
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AES Gener and Mitsubishi closed a $1.05 billion debt package for the 472MW Cochrane coal-fired project in Chile on 27 March.