San Francisco-based Pattern Energy Group has acquired the 283-megawatt Gulf Wind project in Texas from Babcock & Brown.
Babcock & Brown and Pattern Energy did not disclose the financial terms of the deal. What’s known is that debt-financing supporting the acquisition was arranged by Mizuho Corporate Bank, Banco Espirito Santo, Bayerische Landesbank, Commerzbank, HSH Nordbank and ING Capital. Read More »
Summit Power plans to close financing on its ambitious $1.75 billion, (almost) carbon-neutral power plant by the end of the year.
Almost, because once operational the plant will capture 90 percent of its expected CO2 emissions. Read More »
FPL Group’s clean energy unit NextEra Energy Resources has completed its $352 million acquisition of three operating wind farms located in Texas, Wisconsin and South Dakota from Babcock & Brown. The wind farm generate a combined 184.5 megawatts of electricity, 80 percent of the output is backed by long-term power purchase agreement.
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NRG Energy, one of the country’s largest coal users, has acquired offshore wind developer Bluewater Wind, a venture jointly owned by Babcock & Brown and Arcadia Windpower, a developer headed by Bluewater founder Peter Mandelstam.
On the acquisition, NRG CEO David Crane said:
Acquiring an experienced offshore developer like Bluewater, with good projects already in the development pipeline, gives NRG first mover advantage in this potentially lucrative market.
Bluewater’s development team will join NRG’s newly formed offshore wind unit, to be headed by Peter Mandelstam. Read More »
