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Nofar to acquire Carlyle-backed Pine Gate solar assets in...

Israeli renewables investor Nofar Energy has agreed to acquire three US solar projects from Pine Gate Renewables out of Chapter 11 bankruptcy

Exclusive Intelligence

Copia signs 20-year PPA for Arizona solar-plus-storage pr...

PROPRIETARY

Copia Power has signed a long-term power purchase agreement with Arizona Public Service for its MEC Phase 1 solar-plus-storage project

Ameren, IMEA form JV to finance Illinois transmission line

EXCLUSIVE

Ameren Transmission Company of Illinois and the Illinois Municipal Electric Agency have formed a joint venture to develop, finance and own a new 138kV transmission line in Illinois, IJGlobal can reveal

Grupo Romero eyes GIP-owned Saavi Energía, Mexico

EXCLUSIVE

Grupo Romero has submitted an offer for GIP’s Saavi Energía in Mexico, IJGlobal can reveal

Seminole closes $22m refinancing for Greenwood solar port...

PROPRIETARY

Seminole Financial Services has closed a $22 million refinancing for a 26MWdc distributed solar portfolio owned by Greenwood Sustainable Infrastructure, one of the first portfolio-level solar refinancings completed by the Libra Group-backed platform

UPDATE: Carlyle to sell the projects it picks up in Pine ...

EXCLUSIVE

The Carlyle Group plans to sell all the assets it holds as collateral in the Pine Gate Renewables Chapter 11 case, IJGlobal can reveal

Google to acquire Intersect development assets in $4.75b...

PROPRIETARY

Google has agreed to acquire the development-stage and construction-ready projects of solar-and-storage developer Intersect Power in a $4.75 billion all-cash transaction, while assuming Intersect’s corporate-level debt

AI factory eyes multi-billion PF raise, stranded biomass ...

EXCLUSIVE

AI factory developer New York Green Cloud plans, over the next five years, to refurbish and convert 20 biomass plants to primarily power its data centers, a company executive told IJGlobal

NextEra agrees sale-leasebacks for Midwest and Gulf Coast...

EXCLUSIVE

NextEra Energy has agreed two separate sale-leaseback deals for solar projects in the US Midwest and Gulf Coast, IJGlobal can reveal

EIG secures $500m and will continue fundraising into 2026

EXCLUSIVE

EIG Global Energy Partners has raised an additional $500 million for its latest energy infrastructure debt fund towards a $3 billion target, IJGlobal can reveal

Aypa moves 400MW Cali BESS toward financing

EXCLUSIVE

Aypa Power, a battery storage developer backed by Blackstone, has submitted a draft environmental impact report for a proposed 400MW battery energy storage systemin California, clearing a key development hurdle as the project moves toward the project financing stage, IJGlobal can reveal

Brookfield-backed X-Elio on the market

PROPRIETARY

Canadian asset manager Brookfield Renewable has put up for sale a majority stake in Spanish renewables platform X-Elio Energy

Marex launches online platform for US clean energy tax cr...

PROPRIETARY

Marex has launched an online platform allowing US clean energy developers to list transferable tax credits for sale

Analysis & Case Studies

Debt, not cash: the mechanics behind Brookfield’s Pine Ga...

Brookfield’s final asset purchase agreement in the Pine Gate Renewables Chapter 11 reflects a negotiated outcome between the secured lender, the debtor and unsecured creditors that reallocates project risk without relying on a traditional cash sale

Sureties object to Pine Gate DIP asset sales over cure co...

Surety insurers have objected to Pine Gate Renewables’ proposed asset sales in Texas bankruptcy court, and argued that the debtor-in-possession lender driven transactions shift construction and completion risk onto bonding providers while failing to meet bankruptcy requirements governing cure costs and future project performance

Pine Gate moves to block $95m ITC recapture in Carlyle deal

Pine Gate Renewables has asked a Texas bankruptcy court to approve an emergency settlement with corporate lender Carlyle to avert more than $95 million of investment tax credit recapture exposure tied to nine solar projects securing Carlyle’s debt

Other News

PowerBank secures RCF, US

PowerBank has entered into an $8 million RCF with NYGB to fund interconnection deposits for 50MW of solar and BESS projects in New York

KCEC selects US BESS developer

KCEC has selected Nuvve New Mexico as the developer of 2 BESS units under a BAAS model in northern New Mexico

T1 closes PTC sale, US

T1 has closed a sale of Section 45X PTCs to an investment-grade buyer for $160 million

NextNRG, A123 sign BESS MoU, US

NextNRG said Monday that it has signed an MoU with A123 Systems to deploy US-manufactured BESS units

BorderPlex launches renewables project, US

BorderPlex Digital Assets last Tuesday launched Project Green, an initiative to develop up to 500MW of renewable energy capacity by 2028 and 1GW by 2032 in southern New Mexico

esVolta completes first standalone ITC transfer, US

esVolta has completed an investment tax credit transfer for its Black Walnut battery energy storage project in California to Computacenter Holdings – its first standalone ITC transfer

APR Energy secures upsized facility, US

Wingspire Capital has upsized APR Energy’s revolving line of credit to $300 million

Jinko Power preps $500m BESS project, Chile

Jinko Power is planning to develop a $500 million battery energy storage system located in the region of Atacama in Chile

Copia Power secures tax equity for Maricopa Energy Center...

Copia Power has executed an $890 million tax equity commitment with Wells Fargo for its Maricopa Energy Center in Arizona

Milbank adds partner to energy, infra group in New York

Milbank has hired Thomas Sines as a partner in the firm’s Global Project, Energy and Infrastructure Finance Group, based in New York

Avantus closes solar, BESS tax equity, California

Avantus has closed a $300 million tax equity investment from Truist Bank for the Aratina 1 utility-scale solar and storage project in Kern County, California

RWE, I&M sign PPA for Indiana energy project

RWE and I&M, an AEP company, have signed a long-term PPA for the total output from RWE’s 200MW Prairie Creek project in Blackford County, Indiana

Conduit Power secures backing for 200MW development

Grey Rock Investment Partners-backed Conduit Power has secured financial backing from Diamondback Energy and Granite Ridge Resources to develop 200MW of natural gas power generation assets

Pembina to supply LNG to Ovintiv, Canada

Canadian natural gas producer Ovintiv and a subsidiary of Pembina Pipeline Corporation have signed a 12-year agreement for Pembina's liquefaction capacity at the Cedar LNG facility

CPS launches BESS RFP, US

CPS has launched an RFP for 500MW of BESS capacity in San Antonio, Texas

IJGlobal Project Finance League Tables

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Reports



BESS Roundtable 2024: from financial frontier to staple r...

The battery energy storage system (BESS) sector is just a few years into its evolution from a risky renewables investment into a key element in closing crucial power grid gaps and an essential to diversify renewables portfolios.

LatAm Special Report 2024: LatAm’s evolving power markets

Already one of the cleanest energy mixes in the world, Latin American policy makers continue to push for ambitious net-zero targets. Renewables already generate 60% of the region’s electricity, twice the global average, with no shortage of sponsors looking to take advantage of some of the globe’s best renewables resources

Offshore Wind Report 2023: Sailing the Rough Seas

As we delve into the currents of progress, the US offshore wind sector has found itself somewhat lost at sea. Despite strong tides provided by a collective commitment to combat climate change and favorable tax incentives, many of the multi-billion-dollar projects have stalled or terminated.

Understanding the evolution - PFR Tax Equity Roundtable 2...

The broad benefits of the Inflation Reduction Act of 2022 (IRA) has meant tax equity has never played a more crucial role in driving investment in renewable energy projects in the US. Yet, while many project finance practitioners have been busy readying themselves to take advantage of this new and improved tax equity regime, the devil – as always – remains in the details. To shine some much-needed