Pine Gate Renewables’ Post

Banks and corporate investors have a significant opportunity to participate in Solar Tax Equity thanks to platforms created by The KeyState Companies and others. This is a win-win that checks lots of boxes for all the participants in this market including reduced electric bills for many of the most vulnerable consumers. #Solar #InflationReductionAct

New Zealand company Genesis and Fotowatio Renewable Ventures (FRV) Australia have reached financial close on a 63 MW solar farm in Lauriston on the Canterbury Plains. Debt funding for the project was provided by Bank of New Zealand (BNZ) and MUFG Bank Ltd (MUFG). The Genesis-FRV Australia joint venture also signed a 10-year PPA with Genesis Energy for all of the power generated from the solar farm. “Solar has a clear role to play in New Zealand’s energy transition as a renewable source of generation," said Tracey Hickman, Genesis Energy’s Chief Wholesale Officer. "It will enable us to provide cleaner energy to our customers, while also reducing emissions from our generation portfolio as Genesis invests in new renewable generation and moves to become net zero by 2040. “The pleasing aspect of this project is it shows the value of our joint venture and that the model we have put in place for Lauriston works. It has allowed us to sign quality delivery partners, including our lead contractor, equipment suppliers and lenders.” According to Genesis, construction costs for the project will amount to NZ$104 million ($64 million). The Lauriston solar farm will be located on a 93-hectare site and will be capable of powering c.13,000 homes per annum once operational. BEON has been selected to carry out the construction of the project, with initial works already underway. Genesis and FRV Australia formed their joint venture in late 2021 to develop up to 500 MW of solar capacity over five years, all of which is expected to generate about 750 GWh per annum. Genesis and FRV Australia are also said to be studying three three North Island sites with a combined capacity of up to 400 MW as Genesis focuses on moving to around 95% renewable generation by 2035. “We are thrilled to announce this significant milestone for Lauriston Solar Farm," commented Carlo Frigerio, CEO of FRV Australia, which is co-owned by OMERS. "This marks our inaugural financial closing in New Zealand, serving as the cornerstone for FRV Australia and Genesis development efforts. "It is a pivotal moment for both our presence in the country and the solar industry, which is just beginning to take root.” Christopher Curtain, Senior Managing Director and Head of Asia-Pacific, OMERS Infrastructure, added: “We are excited by the opportunity to invest in the New Zealand energy sector, alongside Genesis, a like-minded partner, and advance our collective efforts to facilitate a shift to greener and more sustainable infrastructure." #cleanenergy

Banks and corporate investors have a significant opportunity to participate in Solar Tax Equity thanks to platforms created by The KeyState Companies and others. This is a win-win that checks lots of boxes for all the participants in this market including reduced electric bills for many of the most vulnerable consumers. #Solar #InflationReductionAct

As ever more renewable energy companies struggle and fail, private equity firms are continuing to take corrective actions. Who's on your Engineering team? #Conco #Engineering #Renewables #PreCommissioning https://lnkd.in/gbTtayx5

In a guest article for Infrastructure Investor, Schroders Greencoat portfolio manager Duncan Hale talks to the opportunity set for DC investors in UK Renewables. "Renewable energy is an attractive investment for DC investors, not just because of the potential appealing returns it can offer, but because it can drive them from return premia not seen elsewhere in DC members' portfolios." With the UK being a market leader in #renewableenergy, the team plans to invest around a third of its LTAF assets in the UK. Click the link below to read the full article: https://lnkd.in/eZ_Aghaw Schroders Greencoat LLP Schroders Capital

German renewables company ib vogt GmbH has reached financial close on a three-project solar PV portfolio totalling 418 MWp near Segovia, in the autonomous community of Castile and León, Spain. “For the energy transition to be successful, we need ambitious goals and actions,” said Anton Milner, CEO of ib vogt. “To deliver this unique portfolio of projects that will produce clean, renewable energy for decades to come, is part of our ambition and I would like to thank all involved parties and especially the project lenders to join us in bringing them to reality." Norddeutsche Landesbank -Girozentrale – (NORD/LB), Santander Corporate & Investment Banking, and BBVA were engaged as the lenders on the deal. ib vogt noted that the total debt raised for the portfolio amounts to approximately €350 million. “Building on a longstanding relationship, we are thrilled to have been able to support ib vogt to achieve financial close on this milestone transaction, contributing towards the energy transition in Spain within our commitment to a more sustainable future,” stated Heiko Ludwig, Global Head of Structured Finance at NORD/LB, assuming the roles of MLA, LC Issuing Bank and Hedge Provider. The portfolio being financed comprises the 174 MWp Serbal, 134 MWp Castaño, and 110 MWp Pato solar projects, all of which have long term pay-as-produced fixed price PPAs in place with ‘market-leading, investment-grade offtakers’. ib vogt is providing full Engineering, Procurement, and Construction (EPC) services and has already commenced construction on all three sites. Commercial Operation (COD) for Serbal and Castaño is slated for December 2024, while Pato is expected to be fully operational in Q1 2025. “Santander CIB is playing a key role in helping accelerate the energy transition,” noted Benoît FELIX, Global Head of Structure Finance at Santander CIB. “We are delighted to partner with ib vogt (five consecutive financings closed in the last 18 months), as MLA, Agent and Hedge Provider, contributing to their success in achieving their ambitions. This reinforces Santander’s ongoing commitment to sustainability.” Borja Saez-Montagut, Global Head of Project Finance Energy at BBVA, added: “We are proud to support ib vogt in the development of this portfolio, acting as MLA, LC Issuing Bank and Hedge Provider. “This deal is a landmark transaction in the renewable energy market, and serves as a new example of our commitment to sustainability, helping our customers in the transition towards a sustainable future." #cleanenergy

EOS Investment Management Group (EOS IM) has agreed to acquire a 294 MW solar portfolio in Italy from Lightsource bp. EOS IM, through EOS ReNewable Infra Fund II, will take on six greenfield solar projects into its portfolio and boost to its existing solar assets in Italy.   The portfolio is currently either permitted or in the late stages of development and slated to enter into construction in the next 12 months. “This acquisition further enriches the portfolio of our second clean energy infrastructure fund, bringing it to over 370 MW of assets either operational or under construction and a portfolio of projects close to being permitted totalling 600 MW of capacity,” noted Natalino Mongillo, Managing Partner at EOS IM. “This transaction is further consolidating our position as one of the most dynamic independent players in the energy transition sector in Italy.” “We are indeed pleased to collaborate with Lightsource bp, a worldwide leader in solar energy project development and management, through a partnership built on three fundamental, shared pillars: Energy, Environment, and People,” added Giuseppe La Loggia, Senior Partner at EOS IM Group. For Lightsource bp’s part, the company aims to use the proceeds from the sale to reinvest and further expand its solar base in Italy, where it is currently progressing more than 1 GW mature solar project opportunities and a solid energy storage pipeline. “The demand for homegrown, secure and renewable electricity is soaring,” stated Giovanni Mascari, Country Head Italy at Lightsource bp. “Deals like this enable us to reinvest and amplify our ability to deliver clean electrons to the utilities and businesses that need them, as we contribute to advance the energy transition on a global scale. We’re excited to watch these projects progress and even more to see the opportunities they unlock for the future of both the energy transition and local economy in Italy.” The transaction was overseen for EOS IM by Natalino Mongillo, Giuseppe La Loggia, Riccardo Belli and Mauro D'Addetta. Lightsource bp was advised by joint lead financial advisors Lazard and Prothea, with Ashurst as its legal advisor. EOS IM’ legal advisor was Gianni & Origoni, ATA Renewables on technical aspects, KPMG on ESG and Deloitte on finance and accounting. #cleanenergy

GPE Spotlight: Big batteries shaping Australia’s National Electricity Market Global Power Energy congratulates Firm Power and Octopus Investments Australia for the successful Blackstone BESS acquisition. The Octopus investment marks a significant development in Australia's sustainable energy landscape, demonstrating the increasing importance and potential of battery energy storage systems in the nation's renewable transition.  The battery is situated approximately 30 kilometres from the state of Queensland’s capital city, Brisbane, placing it in a strategic position to serve a significant metropolitan area. The size of this project is significant to power system operations, once fully operational, it will have the capacity of 500 MW output, 1 GWh with a ~ 20-year lifespan. Firm Power secured the strategic site and developed the Blackstone BESS project with Octopus targeting a final investment decision by the second half of 2025. The announcement featured in the AFR which noted an $800 million enterprise valuation when the BESS is fully up and running. GPE was pleased to have the opportunity to contribute to a strategic review of the proposed project during its development. Duncan Macdonald, Technical Director at Firm Power, commented on GPE's role: "Firm Power engaged GPE to perform a strategic review of the Blackstone BESS grid connection. We were very pleased with the services provided that included a literature review, thorough assessment of technical connection aspects, and identification of potential value adding services for the project. This information was instrumental in giving Firm Power the confidence to continue with the project." At GPE, we're proud to be a part of this journey, offering insights and support as we collectively steer towards a sustainable, electrified future. https://lnkd.in/gxkbv8sN

NextEnergy Solar Fund (NESF) was featured in the UK Investor Magazine today, highlighting the Fund's attractive dividend yield, and impressive portfolio of assets across the UK, Europe and India. The article states: 'UK investors will be hard-pressed to find another investment vehicle offering the same solar asset diversification and NextEnergy Solar Fund’s expert management. NESF operates some of the UK’s largest facilities.' Read the full article here: https://lnkd.in/emmBKFKb | #investmentcompany | #renewableenergy | #netzero | #sustainability | #isa | #sipp | #ftse | #dividendyield | #dividends | #income | #solarenergy | #investinthefuture |

Origis Energy Secures $317 Million Investment Boost from J.P. Morgan for Renewable Ventures - https://lnkd.in/dJpsGc2F Average reading time for this story is 2 minutesOrigis Energy, a prominent player in America’s renewable energy and decarbonization solutions sector, has announced a significant financial milestone. The company has successfully secured a $317 million project tax equity funding from J.P. Morgan. This substantial investment is earmarked for two utility-scale projects, including a solar and battery storage venture in Mississippi and a solar project in New Mexico. The first project, Escalante Solar, is a 200 MWac solar plant currently under construction in the southwest. Tri-State Generation and Transmission Association, along with its member electric cooperatives, are the key collaborators in […] #batterystorage #energystorage #energystoragesystem #ess #j.p.morgan #northamerica #origisenergy #renewableenergy #solarprojects #usa #energystorage #batteries #battery #cleanenergy #alternativeenergy #cleantech