Latest news with #Invenergy
Yahoo
6 days ago
- Business
- Yahoo
Invenergy and partners finalise $801m funding for Quebec wind project
Invenergy, alongside Alliance de l'énergie de l'Est, has closed C$1.1bn ($801.3m) in financing for the Pohénégamook-Picard-Saint-Antonin-Wolastokuk 1 (PPAW 1) wind energy centre in Quebec, Canada. The PPAW 1, a joint venture between Invenergy and the Alliance de l'énergie de l'Est, was chosen by Hydro-Québec in a 2023 tender process. Construction is set to begin in 2025, with operations by the end of 2026. The project will create 350 construction jobs and has already resulted in 100 new manufacturing positions at Marmen Énergie in Matane. Invenergy vice-president of development and renewable energy Louis Robert stated: 'Invenergy is a global company with strong local roots, particularly in Quebec. The project financing we have put together aligns with who we are as an organisation: it brings together established financial institutions from Quebec and across Canada, as well as international banks that support the development of clean energy solutions.' Over 30 years, PPAW 1 is projected to distribute C$137m to Alliance de l'énergie de l'Est's shareholders. This includes 16 regional county municipalities and the Wolastoqiyik Wahsipekuk First Nation. Host communities will receive C$45m in fixed payments. The project's financing includes equity from Invenergy and Alliance de l'énergie de l'Est, with the balance covered by bank credit facilities. Major financial institutions Desjardins Group, the National Bank of Canada, the Canadian Imperial Bank of Commerce (CIBC), Sumitomo Mitsui Banking (Canada branch) (SMBC), and KfW IPEX-Bank are involved in the financing, which aligns with the country's Green Loan Principles. Desjardins Group is serving as administrative agent, with the National Bank of Canada acting as documentation agent and green loan coordinator. The bank syndicate, including Desjardins Group, CIBC, SMBC and others, is being led by coordinating lead arrangers. Eastern Energy Alliance president Michel Lagacé stated: 'We're grateful that our financial partners see the value PPAW 1 brings to the province, particularly in eastern Quebec. It comes to life thanks to the trust shown by long-standing partners like Hydro-Québec.' In related news, Invenergy has also commenced commercial operations at its first clean hydrogen project, the Sauk Valley hydrogen facility, in Rock Falls in the US state of llinois. The facility, spanning five acres, will produce 40t of clean hydrogen annually and is powered by Invenergy's adjacent solar plant and Ohmium International's electrolyser technology. "Invenergy and partners finalise $801m funding for Quebec wind project" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
27-05-2025
- Business
- Yahoo
Developers abandon Lone Oak solar project
ANDERSON — The planned Lone Oak solar facility in northern Madison County has been abandoned by the developer. Invenergy has withdrawn its appeal in Grant County for a judicial review of the Madison County Board of Zoning Appeals decision not to grant an extension for the start of construction. Jeff Graham, attorney for Madison County, said Tuesday that the withdrawal of the appeal means the project will not move forward. In March, the Indiana Supreme Court denied a request by the developers of the facility to consider a decision by the Indiana Court of Appeals. The Court of Appeals denied the request of the developers to overturn a decision by the Indiana Utility Regulatory Commission to assume jurisdiction in a complaint filed by Invenergy, affirming a decision in April not to take jurisdiction. The company obtained a special use permit from the Board of Zoning Appeals in 2019 with construction to have been completed by Dec. 31, 2023. Previously, Invenergy asked and the IURC agreed not to exercise jurisdiction over the project. In a 2024 complaint, Invenergy maintained that it was unreasonable for the Madison County Board of Zoning Appeals to require that the Lone Oak facility be operational by Dec. 31, 2023. The company wanted the IURC to rule that the county's decision not to grant a two-year extension was unreasonable and that the county's 2017 solar ordinance should be voided. If that action was not approved, the company wanted the state commission to provide an additional three years to complete the project. The original request for the IURC to assume jurisdiction asked that one of two steps be taken to allow for future construction of the $110 million project that would produce 120 megawatts of electricity on 800 acres. The company was asking the IURC to rule that the county's solar ordinance is unreasonable or void. In its decision, the IURC noted that Invenergy had requested a judicial review of the BZA decision and that the review was pending in Grant County. Invenergy maintains that it couldn't begin work on the Lone Oak facility for several reasons, including a pending lawsuit by remonstrators that hindered financing, the COVID-19 pandemic and related supply-chain issues. At a 2023 hearing, Michael Hill, an attorney for Invenergy, said that if the IURC declined to exercise jurisdiction, the ordinance and BZA denial of the extension would 'effectively kill' the facility.
Yahoo
09-05-2025
- Business
- Yahoo
Largest U.S. electric line set for 2026 start in Kansas
WICHITA, Kan. (KSNW) —The Grain Belt Express has awarded $1.7 billion in contracts to Quanta Services and Kiewit Energy Group to begin work on the largest electric transmission project in U.S. history—an 800-mile line connecting Kansas to Indiana. Phase 1, linking Kansas and Missouri, is set to begin construction in 2026. According to its planners, the line will deliver 5,000 megawatts of power, lower energy costs, and is expected to create more than 4,000 jobs. Work continues on transmission line across Kansas Developed by Invenergy, the project uses high-voltage direct current technology to connect four grid regions. More than 1,500 land agreements have been signed in Kansas and Missouri, with $105 million committed to landowners. In a news release, Invenergy says local materials will be sourced when possible, and the project won't rely on ratepayer funding. Kansas lawmakers are backing the initiative as a major infrastructure investment with long-term benefits for the state. For more Kansas news, click here. Keep up with the latest breaking news by downloading our mobile app and signing up for our news email alerts. Sign up for our Storm Track 3 Weather app by clicking here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
07-05-2025
- Business
- Yahoo
Grain Belt Express awards $1.7B in contracts for transmission line through Kansas, other states
Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Generate Key Takeaways The Grain Belt Express announced $1.7 billion in contractor awards on Wednesday to build a transmission line through Kansas, Missouri, Illinois and Indiana. (Robert Zullo/States Newsroom) TOPEKA – The Grain Belt Express, an 800-mile electric transmission line to be built through Kansas, Missouri, Illinois and Indiana, announced $1.7 billion in contractor awards on Wednesday. The awards were made to Quanta Services of Houston and Kiewit Energy Group Inc. of Omaha. Grain Belt Express is an Invenergy project expected to add 5,000 megawatts of U.S. energy delivery capacity, according to an Invenergy press release. It's also expected to provide $52 billion in energy cost savings to Americans over 15 years. 'Quanta Services and Kiewit have strong local presences and expect to source raw materials locally in Kansas and Missouri when possible, including concrete, aggregate, civil materials, conduit, and piping,' the press release said. 'Main construction, engineering, and procurement offices for Grain Belt Express Phase 1 will be based out of Overland Park and Lenexa, Kansas.' Kansas Senate President Ty Masterson said the Grain Belt Express is a multimillion dollar investment that will pay off for Kansans. 'The selection of contractors and suppliers with a local presence is just one of the many sizable economic benefits Grain Belt Express brings, in addition to greater energy cost savings and reliability,' he said. In April, the Kansas Corporation Commission modified the route for one of two transmission lines that will connect wind and solar farms to the Grain Belt Express that was originally planned to run for 46 miles through parts of Ford, Meade and Gray counties. 'The new route reduces the length of the line by 12 miles and avoids 24 parcels of land resulting in fewer landowners being impacted,' a KCC press release said. 'The 16-mile Bucklin-Dodge City Line remains unchanged.' A map showing the new route of the Meade-Dodge City line can be viewed here. The Invenergy press release said 1,500 agreements have been executed with landowners for easement rights. More than $105 million is part of executed easement agreements, including $19 million already paid to landowners and an additional $86 million due at construction, the company said. More than 95% of Grain Belt Express Phase 1 main line land acquisition is complete. 'Kansans working to balance household budgets and run businesses want energy that's affordable and reliable, and that's what we are getting with Grain Belt Express, all without ratepayers being forced to pay for it,' said Kansas House Speaker Dan Hawkins.
Bloomberg
07-05-2025
- Business
- Bloomberg
Powering Ahead: The Future of US Renewable Investment
Clean energy investment in the US grew $50 billion last year. With interest rates easing and inflation in decline, the market appears to be well positioned to meet skyrocketing power demand from sources like artificial intelligence and data centers. Yet it's not all smooth sailing: price cannibalization, curtailment risks, tariffs and clean energy policy shifts from the new Trump administration all present challenges for investors. So what business models and strategies are required to keep the momentum going? At the 2025 BloombergNEF Summit New York, Pol Lezcano, a senior associate from BNEF's solar team, moderated a panel titled 'Sustaining Momentum in US Renewable Investments.' This episode brings listeners that panel, which featured Andrew Gongaware, managing director at BMO Capital Markets; Matt Ransweiler, senior vice president for finance and capital markets at Invenergy; Miguel Pena, managing director and head of project finance for the Americas at BBVA; and Corinne Still, partner at Apollo Global Management.
