Public service company

Natixis Corporate & Investment Banking leads $1.27Bn construction financing of four renewable energy projects for Invenergy

Retrieved on: 
Friday, March 22, 2024
AEP, Natixis, American Electric Power, Diversion, PSO, Public service company, Wind, Investment banking, Senior, Capital market, SWEPCO, Renewable energy

NEW YORK, March 22, 2024 /PRNewswire/ -- Natixis Corporate and Investment Banking (Natixis CIB) has closed a series of financings to support the development and construction of Invenergy's renewable power projects in Kansas and Texas.

Key Points: 
  • NEW YORK, March 22, 2024 /PRNewswire/ -- Natixis Corporate and Investment Banking (Natixis CIB) has closed a series of financings to support the development and construction of Invenergy's renewable power projects in Kansas and Texas.
  • Diversion, a 200 MW wind project located in Baylor and Wilbarger Counties, Texas.
  • Flat Ridge IV, a 135 MW wind project located in Harper and Kingsman Counties, Kansas.
  • This series of financings demonstrates Natixis' commitment to accelerating the energy transition and supporting its clients along the way," said James Kaiser, Managing Director, and Head of North America Infrastructure & Energy Finance at Natixis CIB.

NiSource Inc. Completes NIPSCO Minority Equity Interest Transaction

Retrieved on: 
Tuesday, January 2, 2024
Energy, Professional Services, Utilities, Finance, NiSource, Partnership, Goldman Sachs, Blackstone Inc., McGuireWoods, Latham & Watkins, Public service company, Water, Sumitomo Mitsui Banking Corporation, Growth, Investment, Barclays, Transport, Safety, Lazard, BX, NIPSCO, Senior, Renewable energy

NiSource Inc. (NYSE: NI) (“NiSource”) today announced that it has completed the issuance of a 19.9% indirect equity interest in the company’s Northern Indiana Public Service Company LLC (“NIPSCO”) subsidiary to an affiliate of Blackstone Infrastructure Partners (“Blackstone Infrastructure”), the dedicated infrastructure group of Blackstone Inc. (NYSE: BX).

Key Points: 
  • NiSource Inc. (NYSE: NI) (“NiSource”) today announced that it has completed the issuance of a 19.9% indirect equity interest in the company’s Northern Indiana Public Service Company LLC (“NIPSCO”) subsidiary to an affiliate of Blackstone Infrastructure Partners (“Blackstone Infrastructure”), the dedicated infrastructure group of Blackstone Inc. (NYSE: BX).
  • As previously announced , through the transaction the Blackstone affiliate has acquired a 19.9% non-controlling equity interest in NIPSCO Holdings II LLC, which owns all the equity interests of NIPSCO, and NiSource will own the remaining 80.1% of NIPSCO Holdings II LLC.
  • Blackstone Infrastructure is an active perpetual capital investor across the utility, energy transition, transportation, digital infrastructure, water and waste infrastructure sectors.
  • “We are pleased to announce the completion of this transaction and are excited about the long-term partnership we have entered into with Blackstone,” said NiSource president and CEO, Lloyd Yates.

Concentric Energy Advisors Welcomes Leading Utility Economist

Retrieved on: 
Tuesday, October 31, 2023
Knowledge, University, Concentric objects, Public service company, Edison Electric Institute, Assistant, Economics, Xcel Energy, Chairperson, Northern States Power Company, Professional, Management

MARLBOROUGH, Mass., Oct. 31, 2023 /PRNewswire/ -- Concentric Energy Advisors, Inc. ("Concentric"), a recognized leader in management consulting and financial advisory services focusing on the North American energy and water industries, is pleased to welcome Mr. Steven Wishart to the team as an Assistant Vice President.

Key Points: 
  • MARLBOROUGH, Mass., Oct. 31, 2023 /PRNewswire/ -- Concentric Energy Advisors, Inc. ("Concentric"), a recognized leader in management consulting and financial advisory services focusing on the North American energy and water industries, is pleased to welcome Mr. Steven Wishart to the team as an Assistant Vice President.
  • In these roles, Steve led decarbonization efforts in the upper Midwest and innovated retail rate design in Colorado.
  • "I am very impressed with the leadership, knowledge, and professionalism of the Concentric team," he stated regarding his new position.
  • Steve is a leading utility economist and experienced testifying expert who has appeared in over thirty-five regulatory proceedings.

NiSource Inc. announces Federal Energy Regulatory Commission approval of sale of 19.9% equity interest in NIPSCO

Retrieved on: 
Thursday, October 19, 2023
Professional Services, Other Energy, Utilities, Oil, Gas, Energy, Finance, NIPSCO, Public service company, NiSource, NYSE, Federal Energy Regulatory Commission, Acquisition, BX, Partnership, FERC, CFO, Safety, Blackstone

NiSource Inc. (NYSE: NI) (“NiSource”) announced today the Federal Energy Regulatory Commission (FERC) granted approval of the acquisition of a 19.9% equity interest in the company’s Northern Indiana Public Service Company LLC (NIPSCO) subsidiary by an affiliate of Blackstone Infrastructure Partners (NYSE: BX).

Key Points: 
  • NiSource Inc. (NYSE: NI) (“NiSource”) announced today the Federal Energy Regulatory Commission (FERC) granted approval of the acquisition of a 19.9% equity interest in the company’s Northern Indiana Public Service Company LLC (NIPSCO) subsidiary by an affiliate of Blackstone Infrastructure Partners (NYSE: BX).
  • As previously announced, upon closing of the transaction, the Blackstone affiliate will acquire a 19.9% equity interest in NIPSCO Holdings II LLC, which owns all of the equity interests of NIPSCO, and NiSource will own the remaining 80.1% of NIPSCO Holdings II LLC.
  • “We are pleased to have received FERC’s approval of the proposed transaction with Blackstone Infrastructure Partners,” said Shawn Anderson, NiSource's executive vice president and CFO.
  • “Following the transaction close, NiSource’s balance sheet will be strengthened and positioned to support an ongoing robust capital expenditures program.

D. E. Shaw Renewable Investments Announces Close of Financing and Start of Construction for 200MWac San Juan Solar and Storage Project in New Mexico

Retrieved on: 
Tuesday, July 11, 2023
Maintenance, Partnership, SG, Public service company, Commerzbank, San Juan Generating Station, Electricity, Trust, National Junior College Athletic Association, United States Environmental Protection Agency, Huntington Bancshares, Engineering, Project, Renewable energy, Airline, SAN, PNM

NEW YORK, July 11, 2023 /PRNewswire/ -- D. E. Shaw Renewable Investments (DESRI) today announced the San Juan 1 Project achieved financial close with its project lenders and initiated construction.

Key Points: 
  • NEW YORK, July 11, 2023 /PRNewswire/ -- D. E. Shaw Renewable Investments (DESRI) today announced the San Juan 1 Project achieved financial close with its project lenders and initiated construction.
  • San Juan 1 is a 200-megawatt (MWac) solar and 100 MWac battery storage facility adjacent to the former San Juan Generating Station in San Juan County, NM.
  • "DESRI is thrilled to announce the start of construction at San Juan 1.
  • San Juan 1 is DESRI's third project in New Mexico and first project in San Juan County.

CORE Electric Cooperative Advances its Energy Future with Withdrawal from Comanche 3 Power Plant

Retrieved on: 
Tuesday, September 6, 2022
Colorado Public Utilities Commission, Xcel Energy, Ownership, Maintenance, Public service company, Multimedia, Comanche 3, Comanche, PUC, Central Illinois Public Service Company, Front Range, CORE, PSCO, Utility, Property management

SEDALIA, Colo., Sept. 6, 2022 /PRNewswire/ -- CORE Electric Cooperative (CORE) has asserted its right to withdraw from partial ownership of the Comanche Unit 3 power plant by written notice to Public Service Company of Colorado (PSCo), a subsidiary of Xcel Energy, Inc (Xcel).

Key Points: 
  • SEDALIA, Colo., Sept. 6, 2022 /PRNewswire/ -- CORE Electric Cooperative (CORE) has asserted its right to withdraw from partial ownership of the Comanche Unit 3 power plant by written notice to Public Service Company of Colorado (PSCo), a subsidiary of Xcel Energy, Inc (Xcel).
  • This action is an additional step by CORE to secure its clean and reliable energy future, recover costs and protect its members from future financial burdens due to ongoing mismanagement of the power plant by PSCo.
  • This situation is untenable, and CORE must move on to forgeour clean, reliable, and affordable energy future."
  • ABOUT CORE Electric Cooperative (CORE): CORE is a not-for-profit electric distribution cooperative that provides power to nearly 170,000 members inside a 5,000-square-mile service area along Colorado's Front Range.

Whetstone Power and Rosemawr Announce Acquisition of 30 MW operating solar facility in Colorado

Retrieved on: 
Monday, July 18, 2022
Leadership, Acquisition, City, Investment, Public service company, PACE, Maintenance, San Luis Valley, County, Central Illinois Public Service Company, Partner (business rank), Xcel Energy, Partnership, Renewable energy, Whetstone

NEW YORK, July 18, 2022 /PRNewswire/ -- Whetstone Power and Rosemawr Sustainable Infrastructure Management, the sustainable infrastructure arm of Rosemawr Management, recently announced the acquisition of a 30 MW-ac operating solar power generation facility located in Alamosa, Colorado.

Key Points: 
  • NEW YORK, July 18, 2022 /PRNewswire/ -- Whetstone Power and Rosemawr Sustainable Infrastructure Management, the sustainable infrastructure arm of Rosemawr Management, recently announced the acquisition of a 30 MW-ac operating solar power generation facility located in Alamosa, Colorado.
  • The output of the facility is currently fully contracted to Public Service Company of Colorado, a subsidiary of Xcel Energy.
  • Whetstone Power Operations, a wholly-owned subsidiary of Whetstone, will be providing operations and maintenance and asset management services for the facility.
  • Longer term, Whetstone and Rosemawr intend to refurbish the facility by replacing the existing high concentrating systems with a standard photovoltaic system that may also include an energy storage system.

Pattern Energy Acquires SunZia Transmission Project

Retrieved on: 
Monday, July 18, 2022
BLM, Wind, History, CEO, Defense, Southwestern United States, United States Department of Defense, Pattern Energy, HVAC, MMR, Department, National Audubon Society, Public service company, KV, Ownership, Maintenance, Environment, General manager, LLC, PNM Resources, HVDC, White Sands Missile Range, ERCOT, PNM, Electricity, Defender, Renewable energy, Pattern

ALBUQUERQUE, N.M. and TUCSON, Ariz., July 18, 2022 /PRNewswire/ -- Pattern Energy Group LP (Pattern Energy) announced it has acquired the SunZia Transmission project from SouthWestern Power Group, a wholly owned subsidiary of MMR Group, Inc. SunZia Transmission consists of a 550-mile bi-directional ± 525 kV high-voltage direct current (HVDC) transmission line between central New Mexico and south-central Arizona, with the capacity to transport up to 3,000 MW of clean, renewable energy.  

Key Points: 
  • SunZia Transmission will enable access to over 3,000 MW of wind power to meet the needs of more than 2.5 million Americans, providing clean, reliable and affordable power across Western states
    SunZia Transmission and SunZia Wind together comprise the largest renewable energy infrastructure project in U.S. history with a total investment of over $8 billion; Construction expected to begin in 2023
    ALBUQUERQUE, N.M. and TUCSON, Ariz., July 18, 2022 /PRNewswire/ -- Pattern Energy Group LP (Pattern Energy) announced it has acquired the SunZia Transmission project from SouthWestern Power Group, a wholly owned subsidiary of MMR Group, Inc. SunZia Transmission consists of a 550-mile bi-directional 525 kV high-voltage direct current (HVDC) transmission line between central New Mexico and south-central Arizona, with the capacity to transport up to 3,000 MW of clean, renewable energy.
  • SunZia Transmission previously awarded the full 3,000 MW of capacity on the transmission line to Pattern Energy.
  • SunZia Transmission and Pattern Energy have partnered with the New Mexico Renewable Energy Transmission Authority (RETA) on the development of the transmission project in New Mexico.
  • Pattern Energy expects to begin full construction of the SunZia Transmission and SunZia Wind projects in 2023 with the completion of construction and start of operations for SunZia Transmission expected in 2025, and SunZia Wind in early 2026.

New Mexico Commission's Recommended Decision Disregards State Energy Transition Act, Penalizes PNM for Exiting Coal

Retrieved on: 
Monday, June 20, 2022
Time, New Mexico Supreme Court, PNM Resources, San Juan Generating Station, Carbon, PNM, CEO, New Mexico Public Regulation Commission, Central Illinois Public Service Company, Energy transition, Retirement, Investment, Unit, Coal, Electricity, Public service company, NYSE, Renewable energy, Insurance, Avangrid

This recommendation would arbitrarily penalize the utility for exiting coal and putting customer interests first in our decision-making."

Key Points: 
  • This recommendation would arbitrarily penalize the utility for exiting coal and putting customer interests first in our decision-making."
  • The reduction to customer rates in the Recommended Decision is cited as necessary to prevent double recovery.
  • PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2021 consolidated operating revenues of $1.8 billion.
  • Through its regulated utilities, PNM and TNMP, PNM Resources provides electricity to approximately 800,000 homes and businesses in New Mexico and Texas.

SWEPCO SEEKS APPROVAL FOR THREE NEW WIND AND SOLAR PROJECTS

Retrieved on: 
Tuesday, May 31, 2022
American Electric Power, RFP, Mooringsport, Louisiana, Electricity, Multimedia, Federal Energy Regulatory Commission, Noble, Indiana Michigan Power Center, Wind, Carbon, Wagon wheel, AEP, Sundance, Solar energy, Public service company, Renewable energy, SWEPCO, Invenergy, Texas Panhandle, Southwest Power Pool

COLUMBUS, Ohio, May 31, 2022 /PRNewswire/ -- Southwestern Electric Power Company (SWEPCO), a subsidiary of American Electric Power (Nasdaq: AEP), has announced plans to add three renewable energy projects totaling 999 megawatts (MW). The projects represent a $2.2 billion investment in clean, cost-effective resources. SWEPCO expects to issue another request for proposal (RFP) in the near term for additional renewable energy consistent with the company's integrated resource plan for its energy and capacity needs.

Key Points: 
  • SWEPCO is seeking approval from regulators in Arkansas, Louisiana and Texas to acquire the 200-MW Mooringsport solar project in Caddo Parish, Louisiana; the 200.6-MW Diversion wind project in Baylor County, Texas; and the 598.4-MW Wagon Wheel wind project spanning Logan, Garfield and Noble counties in Oklahoma.
  • The solar and wind projects were identified through a competitive bidding process.
  • Following state regulatory approvals, AEP will file with the Federal Energy Regulatory Commission for approval to transfer the projects from Invenergy.
  • The project includes 199-MW Sundance, 287-MW Maverick and 998-MW Traverse wind projects and is one of the largest wind facilities in the world.