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September 2010
The Asian Development Bank has is set to launch a clean energy bond
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Morgan Stanley, Bank of America Merrill Lynch, Citi and Siebert Brandford Shank launched $140 million in combined tax-exempt 2010-A and taxable build America 2010-B revenue bonds
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A bank group of Barclays, BBVA, CaixaBI and Santander has been mandated for the 354MW second phase of the ENEOP 2 onshore wind financing in Portugal.
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Nevada Geothermal has closed a $98.5 million loan for its Blue Mountain 1 geothermal plant with John Hancock
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Early indications are that the RFP for the £1 billion financing of the Centrica/Siemens/Dong 270MW offshore Lincs wind project has met with a tepid response from the bank market.
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The California Public Utilities Commission approved First Solar’s power purchase agreement
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Lincoln Renewable Energy is looking to close financing for 20MW of solar photovoltaic capacity in New Jersey before the end of the year
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NordLB has joined the arranger line-up on Wetfeet Offshore Windenergy's Eu1.3 billion ($1.6 billion) 400MW Global Tech 1 offshore wind project
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US Geothermal has closed a vendor finance loan with SAIC for the $27 million construction of phase 1 of its San Emidio geothermal project.
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JP Morgan has priced a $525.6 million tax-exempt revenue bond issue for the Southern California Public Power Authority.
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Exelon Corporation is set to buy John Deere Renewables’ portfolio of US wind assets
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August 2010
Sponsors of the 354MW second phase of the ENEOP 2 onshore wind financing in Portugal are negotiating with banks and are due to sign mandate letters within the next few days.
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REgeneration Finance has mandated Seminole Financial Services to provide construction financing
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Eurus Energy America has signed a power-purchase agreement (PPA) with Pacific Gas and Electric (PG&E) for three solar photovoltaic projects in California.
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Pristine Power and Harbert have closed the C$333.2 million ($316 million) debt financing for the York energy centre
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Yash Birla Group subsidiary Birla Surya has signed a Rs9.7 billion ($206 million) eight year project financing via sole mandated lead arranger SBI Capital Markets
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Viridian subsidiary Eco Wind has signed a Eu12.1 million ($15.5 million) five-year-and-seven month term loan for its 10MW Corkermore wind project in Donegal, Ireland.
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US Ex-Im is close to signing a $159 million direct loan to Globeleq's Cerro de Hula wind farm
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Two commercial banks will sign mandate letters by the end of this week to lead the commercial financing for the 300MW Lake Turkana wind project in Kenya.
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France is seeking to replicate the UK’s offshore wind program by seeking bids for 3GW of offshore wind.
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The US Department of Energy approved the part 2 application for the $135 million Taylor Biomass Energy project to go into due diligence
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A request for proposals has been distributed to banks for the Centrica/Siemens/Dong 270MW Project Lincs UK offshore wind financing.
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JP Morgan has launched $533.1 million in revenue bonds for the Southern California Public Power Authority.
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Northland Power is working with Manulife to close a C$105 million ($102 million) 20-year private placement
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Morroco’s Office National d'Electricitie (ONE) has awarded the 200MW Tarfaya wind project to a consortium of ONA subsidiary Nareva and International Power after a tender procedure that began in 2007.
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WestLB has placed the GreenHunter Biofuels project into receivership after it defaulted on $37.7 million of debt.
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AGL Energy and Meridian Energy have formed a joint venture to build a A$984 million ($878 million) wind farm in the Australian state of Victoria.
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Prudential Capital and Zurich Insurance have negotiated a new restructuring of the financing for Raser Technologies’ Thermo No I
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Financial close for Masdar’s 20% portion of the first phase of the London Array offshore wind is now expected in early October
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Closed-end fund, Commerz Real AG, has closed a project financing for a 22.661MW PV plant, Reckahn I in the state of Bradenburg, Germany.
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First Wind and the Los Angeles Department of Water and Power (LADWP) signed a 100MW power purchase agreement for the developer’s Milford II wind project.
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A conversion law has come into force in Italy deeming legitimate solar PV projects progressing under the regional fast track permitting process, DIA (denuncia inizio attivita).
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The Nevada Public Utilities Commission has approved a power purchase agreement for Solar Reserve's Crescent Dunes
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The Inter-American Development Bank has approved a $40 million for phase 2 of Ram Power's San Jacinto-Tizate
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Ofgem, advised by Ernst & Young, has appointed Balfour Beatty Capital, Macquarie Capital and Transmission Capital Partners as preferred bidders for seven of the nine 20-year UK offshore wind transmission concessions (OFTOs) under tender.
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Cape Wind’s equity-raising process looks more difficult after the developer of the project agreed to a cut in the price of its power purchase agreement
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Three bidding groups have lined up for Israel’s two large solar-thermo projects at Ashalim in the western Negev desert.
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Aspen Power has closed a $14.1 million junior loan with Akeida Capital to complete additional environmental compliance expenditures at its Lufkin biomass project in Texas
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Ormat Technologies and John Hancock have submitted the first part of a $350 million loan guarantee application
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July 2010
Trustee Wells Fargo has appointed a receiver for the Huckabay Ridge biogas project
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BBVA and Santander signed the roughly $150 million 8.25-year financing for the Oaxaca I wind project on 29 July.
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Solar developer Recurrent Energy has closed an $18 million 24-year financing
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India’s huge coal plants have grabbed the most market attention, but the country’s government wants to perform the same trick – super-sizing – in the renewables sector. Multilateral and ECA lenders are likely to be more enthusiastic about this batch. Robin Sayles reports.
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Italy’s Budget Law passed on 29 July with amendments to article 45, the law that governs the green certificate incentive regime for wind farms.
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Cirincione moves to Siemens as Dexia reshuffles
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Macquarie Power raises Helios Solar debt
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Banco Votorantim and Banco Santander have closed a R400 million ($225.8 million) holding company loan for Brazilian renewables developer SIIF Energies do Brasil. The subordinated debt package indicates that even when developers can access cheap project-level debt from Brazil’s state-owned lende...
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Canadian developer Finavera Renewables has signed a joint deveopment agreement with GE Energy for its forthcoming slate of wind deals in British Columbia
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First Wind has closed a $117 million loan guarantee with the US Department of Energy for its Kahuku wind project in Hawaii.
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The UK’s coalition government has confirmed that the electricity regulator Ofgem can proceed with the tenders for an offshore transmission operator (OFTO) for each of the nine transmission lines to offshore wind farms.
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Diamond Generating, CLP Renewables and Electricity Generating Public Company have closed a Bht8 million ($259 million) financing to build a 73MW solar plant in Thailand.
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Bank mandate letters will be signed by the middle of August for the financing of the 354MW second phase of the ENEOP 2 onshore wind farm financing in Portugal.
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9REN Group, the European renewables company owned by US private equity house First Reserve, has completed an Eu80 million ($103.1 million) financing for 22MW of photovoltaic projects in Italy with a syndicate of three banks.
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Abengoa has received a conditional commitment from the United States Department of Energy for a $1.45 billion loan guarantee.
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Financial close has slipped for Masdar’s 20% portion of the first phase of the London Array offshore wind farm.
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Italy’s new Conto Energia, the energy law stipulating tariffs for solar plants, was finally approved by the committee meeting of the chairmen of the regions
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Project Resources Corporation has closed a $51 million lease financing with Union Bank for its Ridgewind wind project
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Cape Wind mandated Energy Bankers a Paris as supplemental debt adviser for its 468MW offshore wind project
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Citigroup, Barclays Capital and Credit Suisse have priced the $580.2 million bond issue for the Alta Wind project.
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EnerCap Power Fund has signed a CZK581.5 million ($29 million) project financing with UniCredit Bank Austria for three solar PV projects in the Czech Republic totaling 7.2MW.
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Terra-Gen Power is in the process of finalising the bank/bond financing for its $937.8 million Alta Wind II-IV wind projects
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Arise Windpower signed a Eu17.5 million loan with Swedbank at the end of June for the financing of the Eu25 million 17.5MW Kaphult wind project in Laholm, Sweden
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Axio Power is out to banks with a $360-400 million financing for a 90MW portfolio of solar assets in Ontario.
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SIIF Energies do Brasil has closed a R400 million ($227 million) debt financing for a portfolio of four wind farms in Brazil.
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Northland Power Income Fund hopes to close the C$120 million ($116 million) debt financing for its Mont Louis wind project
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NRG Energy has completed the refinancing and amendment of $2.675 billion in corporate debt and a $96.8 million long-term refinancing for the South Trent wind farm.
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US small wind developer Exergy has brought in equity from Atlantic Power and GE Energy Financial Services for its Idaho Wind
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Renewable Energy Systems Americas has raised $500 million in equity financing from Enbridge
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S.A.G. Solarstrom has closed a CZK1.285 billion ($61 million) long-term project financing for a 13.6 MW phototvoltaic project (Solar Stribro) in Stribro, Czech Republic.
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EDP Renovaveis has closed a $141 million tax equity investment with Wells Fargo