Smaller Utilities for Next Deal
Bonds / Debt Markets
Joined Mizuho Americas in February
What they Mean for Public Utility Returns
Banks, Utilities Find Natural Fit
Economic disruption and the future of electric utilities.
Chesapeake Utilities agreed to acquire Gatherco for $59.2 million, merging it into wholly-owned subsidiary Aspire Energy of Ohio; Canadian Solar agreed with Sharp Corp. to acquire Recurrent Energy for $265 million; Iberdrola USA agreed to acquire UIL Holdings and create a newly listed U.S. publicly-traded company with a rate base of approximately $8.3 billion; Plus debt offerings from Williams Partners and Cheniere Energy.
SunEdison and TerraForm Power agreed to acquire First Wind for $2.4 billion; Emera will sell its 49% interest in Northeast Wind Partners II to First Wind for $223.3 million; Calpine completed its acquisition of Fore River Energy Center from Exelon for $530 million; NorthWestern Energy closed its $900 million purchase of 11 hydroelectric facilities and one storage reservoir from PPL Montana; juwi solar sold ownership interests in a 50-MW solar facility to Dominion; Dominion acquired a 20-MW solar facility from Canadian Solar.
NRG Energy acquired Pure Energies Group, a residential solar industry provider; Duke Energy Progress filed with FERC for approval to purchase the North Carolina Eastern Municipal Power Agency’s generating assets for $1.2 billion; Trina Solar Limited signed a share purchase agreement to sell a power plant to funds managed by Foresight Group LLP; AES entered into an agreement to sell its 49.62% equity interest in a joint venture in Turkey; Southern Power acquired the 150-MW Solar Gen 2 solar facility in California from First Solar; SolarCity is planning to launch what would be the first registered public offering of solar bonds in the US; and debt offerings from Dynegy and ComEd.
PPL Montana sold its hydroelectric facilities to NorthWestern Energy for $900 million; Chesapeake Utilities sold BravePoint; Echelon completed the sale of its grid operations to S&T AG; Plus a debt redemption from Virginia Electric & Power, a private placement offering from DPL, and an IPO for Dominion Midstream Partners.
Pioneer Green Energy acquires Logan Gap wind project, agreement reached for Exelon to purchase Integrys Energy Group, AES agrees to purchase equity interest in SYND Holdco Ltd., Canadian Solar Solutions sells solar power plant Goo Light.