Project finance

Novogradac Renewable Energy Conference Spotlights Inflation Reduction Act Topics

Retrieved on: 
Tuesday, March 26, 2024

SAN FRANCISCO, March 26, 2024 /PRNewswire-PRWeb/ -- Renewable energy development professionals and financiers will discuss the practical application of elements of the 2022 Inflation Reduction Act (IRA) at the Novogradac 2024 Spring Renewable Energy Tax Credits Conference, to be held May 16-17, 2024, at the Rancho Bernardo Inn in San Diego. Understanding adders, learning more about the investment tax credit (ITC) equity market and monetizing the production tax credit (PTC) are among the hot topics in the renewable energy tax credit (RETC) community slated for discussion.

Key Points: 
  • Energy Experts to Address Storage, ITC Equity, Adders and More May 16-17, 2024
    SAN FRANCISCO, March 26, 2024 /PRNewswire-PRWeb/ -- Renewable energy development professionals and financiers will discuss the practical application of elements of the 2022 Inflation Reduction Act (IRA) at the Novogradac 2024 Spring Renewable Energy Tax Credits Conference , to be held May 16-17, 2024, at the Rancho Bernardo Inn in San Diego.
  • Understanding adders, learning more about the investment tax credit (ITC) equity market and monetizing the production tax credit (PTC) are among the hot topics in the renewable energy tax credit (RETC) community slated for discussion.
  • "I'm excited to return to San Diego for a discussion with leading industry experts in renewable energy tax credits," said Nat Eng, CPA, a partner in Novogradac's Walnut Creek, California, office and conference chair.
  • "I'm excited to return to San Diego for a discussion with leading industry experts in renewable energy tax credits," said Nat Eng, CPA, a partner in Novogradac's Walnut Creek, California, office and conference chair.

Jean-Michel Thibaud is joining Waga Energy as the group's Chief Financial Officer and Deputy General Manager

Retrieved on: 
Wednesday, March 13, 2024

Waga Energy (EPA: WAGA), a global expert in the production of Renewable Natural Gas from landfills, announces the appointment of Jean-Michel Thibaud as the group's Chief Financial Officer and Deputy General Manager starting April 3, 2024.

Key Points: 
  • Waga Energy (EPA: WAGA), a global expert in the production of Renewable Natural Gas from landfills, announces the appointment of Jean-Michel Thibaud as the group's Chief Financial Officer and Deputy General Manager starting April 3, 2024.
  • As the group's Chief Financial Officer and Deputy General Manager, Jean-Michel Thibaud will be responsible for Waga Energy’s support functions.
  • His arrival as the group's Chief Financial Officer and Deputy General Manager marks a new stage in the development and structuring of Waga Energy worldwide.
  • In 2013, he joined Orange Business Services as Chief Financial Officer and Deputy Chief Executive Officer, strategy, transformation, and general services.

EQS-News: ENCAVIS successfully signed project refinancing agreements for Spanish solar parks Talayuela & La Cabrera of EUR 203 million

Retrieved on: 
Wednesday, March 13, 2024

Hamburg, 7th March 2024 – Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) has signed two non-recourse project refinancing agreements in a total amount of EUR 203 million for its operating solar plants Talayuela and La Cabrera, Spain.

Key Points: 
  • Hamburg, 7th March 2024 – Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) has signed two non-recourse project refinancing agreements in a total amount of EUR 203 million for its operating solar plants Talayuela and La Cabrera, Spain.
  • Both refinancing transactions have been structured, arranged, and managed by ENCAVIS' inhouse Project Finance team.
  • While ABN AMRO, Rabobank and Bankinter are financing partners of ENCAVIS for years, NatWest provides project financing to ENCAVIS for the first time.
  • In total, the refinancing includes EUR 181.5 million Term Loan Facilities (hedged by interest rate swaps), as well as EUR 13 million Letter of Credit Facilities and EUR 8.5 million Debt Service Reserve Facilities.

Sol Systems, Partners Raise $250M for Landmark Renewable Energy Project

Retrieved on: 
Monday, March 11, 2024

Washington, D.C., March 11, 2024 (GLOBE NEWSWIRE) -- Sol Systems , a national renewable energy company, today announced the successful completion of financing for its landmark Eldorado Project in Saline County, IL.

Key Points: 
  • Washington, D.C., March 11, 2024 (GLOBE NEWSWIRE) -- Sol Systems , a national renewable energy company, today announced the successful completion of financing for its landmark Eldorado Project in Saline County, IL.
  • This pivotal project, utilizing US-made solar panels and racking, is poised to advance sustainable energy and contribute to the development of clean energy infrastructure in Southern Illinois.
  • This financing milestone signifies a major achievement in renewable energy development, underscored by Sol Systems' in-house expertise in structuring and executing complex financial arrangements.
  • Bret Turner, Head of Project Finance, Business Development and Innovation at Silicon Valley Bank, commented, "We are proud to support the Eldorado Project alongside Sol Systems and our esteemed partners.

Lightsource bp Completes $348 Million Financing Package for Two Utility-Scale Solar Projects in Texas

Retrieved on: 
Wednesday, February 21, 2024

This financing marked Societe Generale’s sixth transaction supporting Lightsource bp’s renewable energy projects in the USA.

Key Points: 
  • This financing marked Societe Generale’s sixth transaction supporting Lightsource bp’s renewable energy projects in the USA.
  • This financing marked ING’s fifth transaction supporting Lightsource bp’s renewable energy projects in the USA.
  • This financing marked Lloyds Bank’s third transaction supporting Lightsource bp’s renewable energy projects in the USA.
  • Lightsource bp currently operates three solar projects in Texas: 260MW Impact, 163MW Elm Branch and 153MW Briar Creek Solar.

Arevon Secures $1.1 Billion Financial Close for Eland 2 Solar-plus-Storage Project

Retrieved on: 
Thursday, February 22, 2024

NEW YORK and SCOTTSDALE, Ariz., Feb. 22, 2024 /PRNewswire/ -- Arevon Energy, Inc., a leading renewable energy developer, owner, and operator, today announced it has secured more than $1 billion in aggregate financing commitments for its Eland 2 Solar-plus-Storage Project in Kern County, California. The 374 megawatt (MWdc) solar project coupled with 150 MW/600 megawatt hours (MWh) of energy storage is under early-stage construction and is anticipated to come online in Q1 2025.

Key Points: 
  • Arevon obtained $654 million of debt financing including a construction-to-term loan, a tax equity bridge loan, and letter of credit facilities.
  • Daniel Murphy, Director of Project Finance at Arevon, remarked: "The Eland 2 financing is an amazing accomplishment after Eland 1 which achieved financial close in 2022.
  • Eland 2 , combined with the project's first phase, Eland 1 , collectively represent one of the largest power plants in Arevon's portfolio.
  • "The Eland projects highlight our team's financial strength, industry expertise, and thoughtful approach to fostering a sustainable energy infrastructure.

Arevon and Blackstone Credit & Insurance Close $350 Million Preferred Equity, Debt, and ITC Transfer Financing for Condor Energy Storage Project

Retrieved on: 
Tuesday, February 13, 2024

NEW YORK and SCOTTSDALE, Ariz., Feb. 13, 2024 /PRNewswire/ -- Arevon Energy, Inc., a leading renewable energy developer, owner, and operator, together with Blackstone Credit & Insurance (BXCI), today announced a successful financial close for the 200 megawatt/800 megawatt-hour Condor Energy Storage Project (Condor) currently under construction in Grand Terrace, California.

Key Points: 
  • The project will be capable of providing firming capacity, enhancing grid reliability and stability alongside increased adoption of renewable energy resources.
  • Blackstone's preferred equity investment in Condor is structured to simplify the monetization of tax credits, eliminating the need for traditional tax equity financing.
  • Zachary Rubenstein, Managing Director in the Blackstone Credit & Insurance Sustainable Resources Group, commented "Arevon is a world-class renewable energy company, and we are excited to be their partner on the Condor financing.
  • Arevon secured real estate financing from climate investment firm HASI related to the Condor Energy Storage Project land.

Greenberg Traurig Recognized in IFLR1000 2023 Middle East & North Africa Edition

Retrieved on: 
Thursday, December 28, 2023

NEW YORK, Dec. 28, 2023 /PRNewswire-PRWeb/ -- Four Greenberg Traurig attorneys are listed in the IFLR1000 2023 Middle East & North Africa edition, and two firm practices are ranked in Israel.

Key Points: 
  • Four Greenberg Traurig attorneys are listed in the IFLR1000 2023 Middle East & North Africa edition, and two firm practices are ranked in Israel.
  • NEW YORK, Dec. 28, 2023 /PRNewswire-PRWeb/ -- Four Greenberg Traurig attorneys are listed in the IFLR1000 2023 Middle East & North Africa edition, and two firm practices are ranked in Israel.
  • The 2023 Middle East & North Africa rankings recognize Greenberg Traurig in Israel for Mergers & Acquisitions (M&A) and Project Finance.
  • Campbell M. Steedman is listed as "Highly Regarded" in Saudi Arabia and the United Arab Emirates for M&A.

Excelsior Energy Capital Closes USD $1.3 Billion Project Financing Package for the Faraday Solar Project

Retrieved on: 
Tuesday, November 28, 2023

Excelsior Energy Capital announced today that it has closed a USD $1.3B financing package on the Faraday Solar project in Utah County, Utah.

Key Points: 
  • Excelsior Energy Capital announced today that it has closed a USD $1.3B financing package on the Faraday Solar project in Utah County, Utah.
  • Excelsior acquired Faraday Solar earlier this year from Parasol and Clenera who developed the project.
  • Faraday Solar is a 682.5 MW ground-mounted solar facility and is contracted under an investment grade long-term power purchase agreement.
  • The Faraday investment is the largest single investment made by Excelsior’s first flagship fund, Excelsior Renewable Energy Investment Fund I (“Fund I”).

Leeward Renewable Energy Closes Financing for White Wing Ranch Solar and GSG Wind Projects

Retrieved on: 
Thursday, November 16, 2023

Leeward Renewable Energy (LRE) today announced it has closed approximately $580 million of tax equity commitments and debt facilities, for its White Wing Ranch Solar and GSG Wind projects located in Yuma County, Arizona and LaSalle County, Illinois, respectively.

Key Points: 
  • Leeward Renewable Energy (LRE) today announced it has closed approximately $580 million of tax equity commitments and debt facilities, for its White Wing Ranch Solar and GSG Wind projects located in Yuma County, Arizona and LaSalle County, Illinois, respectively.
  • “We are pleased to have closed construction financing on our White Wing Ranch Solar and GSG Wind projects.
  • “We have completed a record amount of financing for LRE projects this year and we are looking forward to carrying this momentum into 2024.”
    Andrew Kho, Managing Director with Wells Fargo Renewable Energy & Environmental Finance, said, “Wells Fargo is pleased to provide tax equity financing for White Wing Ranch Solar and GSG Wind as LRE continues to expand its renewable energy platform.
  • At White Wing Ranch Solar, LRE is pursuing innovative land management practices to promote the regeneration of native desert ecosystems.