NRG Yield

NRG Yield Enters into Agreement to Acquire Interest in Largest Operating Solar Farm in North America

NRG Yield, through its subsidiary NRG Yield Operating, entered into an agreement with GE Energy Financial Services to acquire its 25 percent interest in the Desert Sunlight Solar Farm in Riverside, CA for $285 million, subject to customary working capital adjustments, plus the assumption of $287.4 million of non-recourse project level debt.

FuelCell Energy Completes Sale of University Micro-grid Project to NRG Yield

FuelCell Energy reported the closing of its definitive agreement to sell a 1.4-MW fuel cell power plant project at the University of Bridgeport to NRG Energy. Concurrent with the closing, a subsidiary of NRG, NRG Yield, acquired the project; the first-ever fuel cell project placed into any yieldco. The University of Bridgeport will buy the electricity and heat produced by the fuel cell power plant under a multi-year PPA.

Transactions (September 2014)

Duke Energy Progress agreed to purchase $1.2 billion of certain generating assets from North Carolina Eastern Municipal Power Agency; Acquisitions by PSEG Solar Source and SunEdison; Exelon will provide equity financing for 21 MW of Bloom Energy fuel cell projects; Debt issues from Calpine and NRG Yield Operating.

Digest (August 2014)

Florida Power & Light Company partners with PetroQuest Energy to develop natural gas production wells in southeastern Oklahoma; First Solar receives financing approval to build a 141-MW solar power plant in Chile; DTE Energy will deploy Tollgrade’s LightHouse MV smart grid sensors and predictive grid analytics platform within its distribution network in Detroit; US DOE chooses Abengoa, together with the National Renewable Energy Laboratory and the Colorado School of Mines, to develop a new solar storage technology for thermoelectric plants.

Terra-Gen to Sell 947-MW Alta Wind Power Portfolio to NRG Yield

Terra-Gen Power (Terra-Gen), an affiliate of ArcLight Capital Partners and Global Infrastructure Partners, signed a purchase and sale agreement with NRG Yield for the sale of its 947-MW Alta Wind I-V, X & XI, and Realty projects (Alta Wind). Terra-Gen expects to close the transaction in the third quarter of 2014, pending customary closing conditions, including the receipt of regulatory approval by FERC and the U.S. Department of Justice and the Federal Trade Commission.

Five Years Later

Wall Street is back in business. What’s next for utility finance?

When Lehman Brothers went bankrupt in September 2008, it marked the beginning of a financial crisis. By most accounts, the utility industry has been a picture of stability through tumultuous times. The view from Wall Street remains bullish – despite some reasons for concern.