Calendar of Events

Sep 29, 2014 to Oct 03, 2014 | Michigan State University, Lansing MI
Oct 01, 2014 to Oct 03, 2014 | Washington, DC
Oct 06, 2014 to Oct 08, 2014 | Los Angeles, CA

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M&A News

 
 
 

TransAlta Renewables Acquires 144-MW Wind Farm from NextEra Energy Resources

TransAlta Renewables, through a wholly owned subsidiary of TransAlta, will acquire the economic interest in a 144-MW wind farm in Wyoming for approximately US$102 million from an affiliate of NextEra Energy Resources. The wind farm is fully operational and contracted under a long-term PPA until 2028 with an investment grade counterparty. The acquisition is subject to regulatory approvals and is expected to close by the end of December 2013.

NRG Energy Enters into Agreement to Acquire Edison Mission Energy

NRG Energy entered into a plan sponsor agreement with Edison Mission Energy (EME), certain of EME’s subsidiaries, the unsecured creditors committee, certain of EME’s unsecured noteholders, and the parties to the Powerton and Joliet sale leaseback transaction to acquire substantially all of the assets of EME, including its equity interests in certain of its subsidiaries, for an aggregate purchase price of $2.635 billion (or $1.572 billion net of $1.063 billion retained cash within EME).

Siemens and Accenture Form Smart Grid Joint Venture

Siemens and Accenture formed Omnetric Group, a joint venture in the smart grid field to develop solutions and services that allow utilities to improve efficiency and achieve greater supply security. Its business operations will focus initially on Europe and the U.S., with further global expansion planned in the future. Omnetric Group will focus on solutions and services for system integration and management of the growing volume of data created as part of power grid operation.

US Power Generating to Merge with Tenaska Capital

US Power Generating (USPG) entered into a definitive agreement and plan of merger with Tenaska Capital Management (TCM). Pursuant to the terms of the agreement, USPG will become a wholly-owned indirect subsidiary of TCM. Under the terms of the merger, TCM will purchase USPG, with the final price being determined by a number of business and tax adjustments.

The Carlyle Group to Acquire Six Power Plants in California, New Jersey

The Carlyle Group agreed to acquire the Red Oak power generation facility in Sayreville, New Jersey, and has separately closed on the purchase of five power plants in California. The acquisitions were executed in conjunction with Carlyle’s power affiliate Cogentrix. Red Oak, which is being acquired from Energy Capital Partners, is an 823-MW natural gas-fired combined-cycle power plant located in Sayreville, New Jersey.

First Solar Forms Joint Venture with BELECTRIC Holding

First Solar and BELECTRIC Holding, GmbH launched a joint venture (JV) that will realize solar energy projects on three continents. The JV - PV Projects GmbH & Co.

NRG Energy Acquires Energy Curtailment Specialists

NRG Energy acquired Energy Curtailment Specialists (ECS), one of the largest, private demand response providers in North America. ECS offers business customers ways to contribute to energy load reduction during times of peak demand. Energy Curtailment Specialists currently manages more than 2,000 MW of demand response across the country for over 5,000 customers.

NRG Energy Acquires Corpus Christi, Texas Cogeneration Plant

NRG Energy closed on the acquisition of the Gregory cogeneration plant in Corpus Christi, Texas. NRG paid approximately $244 million in cash for the plant, exclusive of adjustments relating to working capital. The Gregory cogeneration plant provides steam, processed water and a small percentage of its electrical generation to the Corpus Christi Sherwin Alumina plant. The majority of the base-load generation is available for sale in ERCOT.

Duke Energy Buys Recurrent’s Solar Project in San Francisco

Duke Energy Renewables acquired the 4.5-MW Sunset Reservoir Solar Power Project, the largest solar generation facility in San Francisco, from Recurrent Energy. The San Francisco Public Utilities Commission (SFPUC) will purchase the energy under a 25-year PPA. The facility provides electricity for the city and county of San Francisco's municipal services and facilities. 

Mainstream to Sell Carrickeeny Wind Farm in Ireland to IKEA

Mainstream Renewable Power closed a deal to sell its 7.65-MW Carrickeeny Wind Farm to IKEA. Mainstream has commenced construction of the project which is located in Leitrim in the North West of Ireland and it is expected to be operational in early 2014 at which point IKEA will purchase the plant. As part of the deal Mainstream will continue operate and maintain the wind farm on behalf of IKEA for its 20-year lifespan.

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