Latest news with #solarprojects
Yahoo
01-08-2025
- Business
- Yahoo
Norway's Statkraft sells renewables portfolio in Canada
COPENHAGEN (Reuters) -Norway's biggest utility, state-owned Statkraft, said on Friday it had agreed to sell its renewables portfolio in Canada, Enerfin Canada, to Atlantica Sustainable Infrastructure for an undisclosed sum. Statkraft said the deal included Enerfin Canada's staff, two operating wind farms totalling 236 megawatt installed capacity and a 0.8 gigawatt portfolio of six wind and solar projects under development. The transaction is expected to close before the end of this year, Statkraft added. The company has said it will restructure its portfolio after heavy losses. Sign in to access your portfolio
Reuters
01-08-2025
- Business
- Reuters
Norway's Statkraft sells renewables portfolio in Canada
COPENHAGEN, Aug 1 (Reuters) - Norway's biggest utility, state-owned Statkraft, said on Friday it had agreed to sell its renewables portfolio in Canada, Enerfin Canada, to Atlantica Sustainable Infrastructure for an undisclosed sum. Statkraft said the deal included Enerfin Canada's staff, two operating wind farms totalling 236 megawatt installed capacity and a 0.8 gigawatt portfolio of six wind and solar projects under development. The transaction is expected to close before the end of this year, Statkraft added. The company has said it will restructure its portfolio after heavy losses.
Yahoo
14-07-2025
- Business
- Yahoo
MN8 Energy closes $575m secured notes offering
MN8 Energy, an independent US renewable energy company, has closed a $575m senior secured notes offering, managed by Natixis Corporate & Investment Banking. Natixis played multiple roles, including those of lead placement agent, ratings advisor and green issuance coordinator, for this transaction. The financing is supported by MN8 Portfolio IV which includes 972MW of distributed generation, utility-scale photovoltaic solar projects and a 75MW four-hour battery energy storage system (BESS). MN8's Portfolio IV comprises 29 project sites across nine states and is managed internally by MN8. MN8 Energy plans to allocate the net proceeds from this offering towards repaying existing project debt and funding distributions that will be reinvested within its wider portfolio. The structured arrangement allows for delayed funding tranches that align with project completion milestones. This financial planning facilitates full refinancing of the previously obtained $612m construction bridge financing for the company's' three solar plants totalling 517MW. MN8 Energy chief financial officer David Callen stated: 'This $575m financing supports MN8's growth trajectory and underscores the strength of our diversified renewable energy platform. 'We're grateful to have Natixis and all our financing partners for their support on this transaction. Natixis' deep project finance expertise and their significant debt underwriting capabilities made them an ideal choice to lead this complex transaction. This financing provides us with the flexibility we need to efficiently fund our robust pipeline as we continue scaling our business.' Natixis CIB DCM Americas co-head Anthony Ferraro stated: 'We are proud to have worked once again with MN8 on another landmark renewables deal. 'This successful collaboration highlights the strength of our partnership with MN8 as well as Natixis CIB's market-leading infrastructure finance franchise with comprehensive solutions across project finance, rate hedging and debt capital markets.' Additional banks involved include joint placement agents Société Générale and HSBC Bank USA, along with co-placement agents CIBC World Markets, MUFG Securities Americas and Texas Capital. A letter of credit facility amounting to $145.7m was also provided by Natixis CIB alongside Société Générale and HSBC Bank USA. In April 2024, MN8 Energy had secured a $325m private placement to support its expansion initiatives. This investment comprised $200m from Mercuria Energy Group and $125m from Ridgewood Infrastructure. "MN8 Energy closes $575m secured notes offering" 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.
Zawya
14-07-2025
- Business
- Zawya
ACWA Power consortium signs $8.3bln Saudi renewable energy project deals
Saudi Principal Buyer has announced that it has signed power purchase agreements with a consortium led by Saudi utility major Acwa Power for seven new renewable energy projects worth a total of SAR31 billion ($8.3 billion). These deals fall within the National Renewable Energy Program, supervised by the Saudi Ministry of Energy. On completion, the projects will boast a total capacity of 15,000MW. Saudi Principal Buyer said the consortium will have Acwa Power as the main developer, with partners - Water and Electricity Holding Company (Badeel), owned by the Saudi sovereign fund PIF, and Aramco Power, owned by global oil giant Saudi Aramco. The signing ceremony was attended by Minister of Energy and the Board of Directors of the Principal Buyer Prince Abdulaziz bin Salman bin Abdulaziz Al Saud. Saudi Principal Buyer said of these seven renewable energy projects, five are photovoltaic (PV) solar projects: *Bisha Project in Aseer Region, with a capacity of 3,000MW and a levelized cost of energy (LCOE) of 4.83708 halalas/kWh (1.28989 US cents). *Humaij Project in Madinah Region, with a capacity of 3,000MW and an LCOE of 4.90682 halalas/kWh (1.30848 US cents). *Khulis Project in Makkah Region, with a capacity of 2,000MW and an LCOE of 5.10439 halalas/kWh (1.36117 US cents). *Afif 1 Project in Riyadh Region, with a capacity of 2,000MW and an LCOE of 4.74736 halalas/kWh (1.26596 US cents). *Afif 2 Project in Riyadh Region, with a capacity of 2,000MW and an LCOE of 4.72346 halalas/kWh (1.25959 US cents). The two wind energy projects are: *Starah Project in Riyadh Region, with a capacity of 2,000MW and an LCOE of 7.71422 halalas/kWh (2.05712 US cents). *Shaqra Project in Riyadh Region, with a capacity of 1,000MW and an LCOE of 6.99750 halalas/kWh (1.86600 US cents). Saudi Principal Buyer said the signing of these agreements represents the largest capacity globally signed for renewable energy projects in a single phase. It confirms the kingdom's continued leadership in developing renewable energy infrastructure and achieving globally competitive costs of electricity production per kilowatt-hour, due to efficient financing and development models, as well as growing investor confidence in the Saudi investment environment. Saudi Principal Buyer has a major role in these projects as the key entity responsible for preparing feasibility studies, tendering electricity generation projects, and signing power purchase agreements with developer consortia. To date, the company has launched renewable electricity generation projects with a total capacity of 43,213 MW. Of these, power purchase agreements have been signed for projects with a total capacity of 38,713 MW, while 10,213 MW have already been connected to the grid. By the year end, the total capacity of grid connection is set to hit 12,713 MW and further soar to 20,013MW by 2026-end. -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
19-06-2025
- Business
- Zawya
Egypt: Cabinet approves establishment of Jarjoub special economic zone
Arab Finance: The cabinet has approved a draft presidential decree to establish the Jarjoub special economic zone in accordance with the special economic zones law No. 83 of 2002, as per a statement on June 18th. The zone will be located on Egypt's northwest coast, covering approximately 402,200 acres. The cabinet also approved a proposal by State Grid Corporation of China to develop two solar power projects with a total capacity of 900 megawatts, 500 megawatts in Minya and 400 megawatts in the Wahat region. The projects are part of the government's efforts to expand renewable energy capacity under Egypt's 2040 energy strategy and reduce reliance on fossil fuels. In a separate decision, the cabinet approved renewing the contract with smart card companies Smart and AVIT for one year, from July 1st, 2025, to June 30th, 2026, under the same transaction terms. The contract will continue to support the implementation of the subsidized bread and commodity exchange system using smart ration cards. The cabinet further approved proceeding with legislation to grant a concession to finance, design, build, develop, manage, and operate the Ro-Ro terminal superstructure at Sokhna Port in the Suez Canal Economic Zone (SCZone). The 30-year concession will be awarded to a company operating under the private free zone system and formed by a consortium of international firms. The Ro-Ro terminal project is part of the state's broader strategy to develop Ain Sokhna Port into a key regional hub serving trade between East and West. It also aligns with national plans to support automotive supply chains and related industries, reduce import pressure on foreign currency reserves, and drive industrial growth through coordinated public-private cooperation. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
