Canadian Solar Solutions completed the sale of Good Light, a 10-MW solar power plant located in the town of Kawartha Lakes, Ontario, Canada, valued at over $60.3 million (USD) to a BluEarth Renewables subsidiary. This is the second of four planned solar projects being acquired by BluEarth from Canadian Solar, totaling 38.5 MW AC.
SunEdison acquired the 156-MW Comanche Solar project from renewable energy developer Community Energy. SunEdison is partnered with Community Energy to complete the final development stage of the project by structuring the financing and providing procurement expertise for the project, following which SunEdison will manage the construction, operation, and maintenance of the solar power plant. Construction will begin in 2015 with commercial operation targeted for early 2016.
PSEG Solar Source acquired the El Paso Solar Energy Center, a 13-MW solar energy facility near El Paso, TX from juwi solar (JSI). The project was originally developed by JSI and has a 30-year PPA with El Paso Electric.The $22 million acquisition will increase PSEG's Solar Source's portfolio capacity to 106 MW. JSI is the EPC contractor for the project and will operate the project for PSEG Solar Source upon completion. Construction has already commenced and is expected to be completed by year's end. The project will use JA solar panels.
SunEdison completed its acquisition of a 50% ownership stake in Silver Ridge Power (SRP) from a subsidiary of AES for approximately $178.6 million in cash. Through its ownership in the SRP joint venture, SunEdison now owns a 50% interest in 36 MW of solar power plant operating projects, including the 266-MW Mt. Signal solar project in California, and a 40% interest in the Tenaska Imperial Solar Energy Center West 183-MW solar power facility to be completed in 2016.
Wisconsin Energy and Integrys Energy Group entered into a definitive agreement under which Wisconsin Energy will acquire Integrys in a transaction valued at $9.1 billion.
Juhl Energy, through its Juhl Renewable Assets (JRAI) division, reached a definitive agreement to acquire two operating wind farms located in North Central Iowa near the towns of Manley and Kensett. The projects utilize GE XLE 1.62 MW wind turbines and total 3.24 MW.
El Paso Pipeline Partners acquired from Kinder Morgan Inc., KMI’s 50 percent interest in Ruby Pipeline, 50 percent interest in Gulf LNG and 47.5 percent interest in Young Gas Storage. The transaction value is approximately $2 billion, including $1.012 billion of proportionate debt at Ruby and Gulf LNG, resulting in an equity purchase price of $972 million. EPB plans to fund 10 percent of the transaction value, net of the proportionate debt, with EPB common units that will be issued to KMI at closing valued at approximately $97.2 million.
GE submitted a binding offer to acquire the thermal, renewables (power) and grid businesses of Alstom consisting of $13.5 billion enterprise value and $3.4 billion of net cash, totaling $16.9 billion. The Alstom board of directors has positively received GE’s offer and has appointed a committee of independent directors led by Jean-Martin Folz to review the transaction.
The Federal Energy Regulatory Commission (FERC) approved the acquisition of UNS Energy by Fortis, finding the transaction is consistent with the public interest. The ruling is the next step toward finalizing the transaction. UNS Energy shareholders approved the acquisition on March 26, 2014.
Dominion acquired six solar development projects from Recurrent Energy located in California's Fresno, Kern and Kings counties. Long-term power purchase, interconnection, engineering, procurement and construction - and operation and maintenance agreements have been executed for each of the projects. Recurrent Energy will continue to support Dominion through the completion of these projects. Construction commenced in the first quarter of this year and all of the solar facilities are expected to reach commercial operation in late 2014 or early 2015.