Schroders Greencoat LLP is set to majority acquire Toucan Energy’s portfolio of 53 operational solar farms in the UK. The portfolio has a combined capacity of 513.5 MWp and is located across England, Wales, and Northern Ireland. “We are thrilled to have agreed to acquire the largest operational solar portfolio put to market in the UK,” said Lee Moscovitch, Partner at Schroders Greencoat. “This is a major achievement for Schroders Greencoat, particularly given the size, complexity and number of stakeholders involved in the transaction." Schroders Greencoat’s new solar portfolio has the capability to power an approximately 184,000 homes per annum, and is valued at approximately £700 million. The majority of the portfolio will be acquired by Schroders Greencoat managed funds, such as Greencoat Solar II LP and Greencoat Renewable Income LP, along with recently launched mandates. Notably, a substantial part of the acquisition involves six Local Government Pension Schemes – Avon, Cornwall, Devon, Gloucestershire, Oxfordshire, and Wiltshire Funds – through Schroders Greencoat Wessex Gardens LP. Tokyo Century Corporation / 東京センチュリー will also participate as a co-investor in this acquisition. This acquisition follows a competitive bidding process overseen by the joint administrators of Toucan Energy Holdings 1 Limited at Interpath Advisory. “We are delighted to have reached this landmark agreement with Schroders Greencoat which will see this excellent solar portfolio move into new ownership, delivering optimum value and generating a significant return for the portfolio’s creditors,” added Jim Tucker, Managing Director at Interpath Advisory and joint administrator of Toucan Energy Holdings 1 Limited. “This was a highly competitive sales process, requiring substantial preparation, due in no small part to the fact that assets of this scale and quality rarely come to market. We look forward to the transaction completing in the coming weeks.” RBC Capital Markets served as the exclusive financial adviser to Schroders Greencoat on the transaction, with additional advisory support from Eversheds Sutherland, Evergy, and PwC. The joint administrators at Interpath Advisory were assisted by KPMG LLP (M&A), Herbert Smith Freehills LLP (Legal), Interpath Advisory (Financial & Tax), Cornwall Insight Ltd (Commercial), THE NATURAL POWER CONSULTANTS LIMITED (Technical), and the management team of Toucan. #cleanenergy
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Policy and regulatory uncertainty, as well as illiquidity, were also found to be barriers in AlphaReal study #renewables #investment #greenenergy https://lnkd.in/eNxyJHkz Author: Michael N.
'Deployment speed' the biggest obstacle to renewables investment - PA Future
https://future.portfolio-adviser.com
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GREENALIA, a pioneer in sustainable power generation, has secured $200M in funding to propel its U.S. renewable energy endeavors. Three-year credit facilities, supported by Greenalia Power US Advanced II, LLC, will fuel the development of solar, wind, and energy storage projects throughout the nation. Nomura Securities International led the charge as sole underwriter, arranger, and bookrunner, demonstrating their commitment to Greenalia's ambitious goals. PEI Global Partners served as exclusive financial advisor, ensuring optimal results. Legal expertise came courtesy of Holland & Knight LLP and Norton Rose Fulbright. With this landmark achievement, Greenalia embarks on a bold path towards expanding its presence in the U.S. market. Proceeds from the financing will enable Greenalia US to acquire, develop, construct, and operate utility-scale renewable energy projects, thus advancing its project portfolio. "We celebrate this monumental step in our U.S. expansion," said Antonio Fernández-Montells Rodríguez, CFO of Greenalia S.A. "Vinod Mukani, Head of Nomura Infrastructure & Power Business, expressed his enthusiasm regarding the partnership with Greenalia, stating, "Together, we envision unlocking the full potential of Greenalia's renewable energy project development capabilities in the U.S." #solarpower #solarenergy #solarindustry #cleanenergy #cleanenergytransition #solar #usa #finance #financing
Greenalia Secures $200 mn Financing for U.S. Renewable Energy Projects - GreentechLead
https://www.greentechlead.com
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Equity markets have effectively been closed to investment trusts for the last 24 months. Boards and investment managers have needed to be nimble and creative with their use of cash to protect shareholders' interests. Foresight Solar has implemented a prudent capital allocation strategy based on returning cash to investors and paying down debt. Without losing sight of the future, we've been building our 1GWp proprietary development pipeline to provide an avenue for growth and an option to deploy—and recycle—capital once markets reopen. That moment seems to be getting closer as interest rates fall and power prices stabilise. The UK government's support for renewables, along with Labour's large parliamentary majority, also seems to provide the political certainty investors are looking for. The light at the end of the tunnel is getting brighter... #InvestmentTrusts #RenewableEnergy #EquityMarkets
“The market difficulties juxtapose with the growing investment needs in renewables”, writes Alex Blackburne for S&P Global in a recent article looking at the outlook for listed funds. Ross Driver contributed to the piece, pointing out that, in the face of capital constraints in equity markets, funds have instead opted to return cash to investors by buying back shares. Ross also discussed how Foresight Solar is adapting to the new higher interest rate environment: "After the era of solely relying on being a yieldco, I think we need to do a bit more than that. We need capital growth". Foresight Solar has roughly 1GW of development assets in its proprietary pipeline, with plans to build it to up to 3GW in the medium term and minimal upfront costs. "You're taking a risk but obviously what you're paying for those project rights is significantly lower [than buying operating or ready-to-build assets]," Ross said. "We'd only need one of those projects to come through and it pays us back." Building Foresight Solar’s proprietary development pipeline is an integral part of our shift to a total return strategy. We aim to deliver sustainable income while also generating capital growth—all while contributing to the energy transition. Read the full article here: https://lnkd.in/daZ6MXUy #RenewableEnergyFunds #EnergyTransition #IncomeAndGrowth
Locked out of equity markets, clean energy funds seek ways to boost shares
spglobal.com
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Just in! Coventry Structured Investments has been featured in a recent article in Structured Credit Investor highlighting our growing momentum in the renewable energy sector. As part of a forward-flow agreement with Almika Renewable Finance, we are set to purchase up to $600 million in residential solar loans, further reinforcing our commitment to sustainable energy solutions. Read more about our strategy and growth plans in the full article here: https://lnkd.in/g8r34fSD We look forward to continuing our work in supporting the renewable energy transition! #RenewableEnergy #SolarFinancing #CPACE #SustainableFinance #CleanEnergy #AssetManagement #CommercialRealEstate #GreenInvesting #NicheMarkets #EnergyTransition #CoventryStructuredInvestments
Renewables prioritised
structuredcreditinvestor.com
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Javelin Capital has a comprehensive presence in the renewable M&A market and has been keeping close tabs on current and prospective trends. Check out what Jason Segal, Managing Partner and Matt Eastwick, CAIA, Managing Director have to say on this topic in this timely article: #javelincapital #javcap #npm #m&a #renewableenergy #cleanenergy #investmentbank #2024trends New Project Media (NPM)
M&A rebound predicted in 2024, but platform and project exits unlikely to mimic 2021-22 — New Project Media
newprojectmedia.com
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The Climate CEO Coach — I post on startups, finance, productivity, mindfulness — Investor, founder, board member, professor, podcaster, newsletter author, "monk"
Check out this quick read on renewable energy M&A predictions in 2024 from my friends at Javelin Capital. Excerpt: "Renewable industry observers expect a rebound in M&A deal flow in 2024 on expectations of interest rates stabilizing, helping to free up investor capital to flow back into the sector. One of the more promising drivers behind the bullish take on next year is that interest from foreign investors in the sector continues to remain high. That interest is partially due to favorable tax regimes under the Inflation Reduction Act, energy storage gaining more traction as an investable industry and further consolidation expected amongst industry participants." Jason Segal Matt Eastwick, CAIA #mergersandacquisitions #solar #energystorage #renewableenergy
Javelin Capital has a comprehensive presence in the renewable M&A market and has been keeping close tabs on current and prospective trends. Check out what Jason Segal, Managing Partner and Matt Eastwick, CAIA, Managing Director have to say on this topic in this timely article: #javelincapital #javcap #npm #m&a #renewableenergy #cleanenergy #investmentbank #2024trends New Project Media (NPM)
M&A rebound predicted in 2024, but platform and project exits unlikely to mimic 2021-22 — New Project Media
newprojectmedia.com
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Matrix Renewables Secures Financing and Tax Credit Transfer for 260MWDC Solar Project in Ada County, Idaho, Advancing Renewable Energy Initiatives Matrix Renewables, the TPG Rise-backed global renewable energy platform, has announced the successful closure of construction to term loan financing totaling $283 million for its Pleasant Valley Solar project in Idaho. Additionally, the company has executed a production tax credit (PTC) transfer agreement. Led by MUFG as Coordinated Lead Arranger, the debt transaction includes a construction loan, term loan, and LC support, with HSBC, SMBC, National Bank of Canada, Commonwealth Bank of Australia, and Mizuho acting as Mandated Lead Arrangers. The tax credit transfer agreement involves a property/casualty insurance company as the tax credit buyer and Stonehenge Capital as the […] Read the full story here: https://lnkd.in/dxpXHv_t #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #middleeast #africa #india #asiapacific #asia #america #idaho #matrixrenewables #northamerica #solarenergy
Matrix Renewables Secures Financing and Tax Credit Transfer for 260MWDC Solar Project in Ada County, Idaho, Advancing Renewable Energy Initiatives
http://solarquarter.com
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US investment giant BlackRock Inc (NYSE:BLK) has clinched a multibillion-dollar deal to acquire private equity firm Global Infrastructure Partners (GIP) in a move that will expand its infrastructure and #energy security investment in the global decarbonisation setting. BlackRock, the world’s biggest asset manager, said on Friday it will pay USD 3 billion (EUR 2.74bn) in cash and about 12 million common stock shares, worth about USD 9.5 billion at Thursday’s close. Set up in 2006, GIP manages more than USD 100 billion worth of assets in the energy, transport, water and waste and digital sectors, among others. The company's portfolio includes investments in major #renewableenergy platforms such as ACS Renewables, Latin America-focused Atlas Renewable Energy, Vena Energy, Skyborn Renewables and Eolian. Its renewables portfolio at end-2022 consisted of onshore and offshore wind, solar, hydropower and energy storage assets totalling 19 GW. Combining GIP with the BlackRock-managed infrastructure assets will create a business with more than USD 150 billion in infrastructure investments across a diversified portfolio including airport, data centre, water and waste and renewable energy assets globally. “We believe the expansion of both physical and digital infrastructure will continue to accelerate, as governments prioritize self-sufficiency and security through increased domestic industrial capacity, energy independence, and onshoring or near-shoring of critical sectors,” said Laurence Fink, BlackRock’s chairman and CEO. Once the deal closes in the third quarter of 2024, the combined infrastructure platform will be led by GIP’s management team. https://lnkd.in/dRxHev-w
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Brookfield Asset Management is set to become the largest owner and operator of renewable energy in Australia with a massive $10 billion bid to acquire France’s Neoen. Neoen, known for its Victorian Big Battery near Geelong, has a robust project pipeline of nearly 10 gigawatts expected to come online over the next decade. This acquisition, backed by Neoen's board, highlights the growing demand for sustainable power solutions. Despite challenges in the renewable sector, Brookfield remains undeterred, viewing these as mere speed bumps in the 20-year megatrend towards low-cost clean energy. Recent successes, such as the deal to supply 10.5 gigawatts of renewables to Microsoft, showcase this unwavering commitment. Neoen CEO Xavier Barbaro expressed enthusiasm about partnering with Brookfield to propel Neoen’s growth further. With regulatory approvals pending, this acquisition marks a significant step forward in Brookfield's renewable energy strategy. Brookfield's acquisition of Neoen is a milestone for renewable energy in Australia and beyond. It demonstrates a robust commitment to sustainable development and positions Brookfield as a key player in the global shift towards cleaner, greener energy. #renewableenergy #sustainability #cleanenergy #brookfield #neoen #greenfuture #australia #evoegy
Brookfield lands Origin Plan B with $10b Neoen bid
afr.com
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Recurrent Energy have secured a $500 million preferred equity investment commitment from BlackRock through their Climate Infrastructure fund. Recurrent Energy is a wholly-owned subsidiary of Canadian Solar Inc. and is a global developer and owner of solar and energy storage assets. The investment will provide Recurrent Energy with additional capital to grow its high value project development pipeline while executing its strategy to transition from a pure developer to a developer plus long-term owner and operator in select markets including the U.S. and Europe. David Giordano, Global Head of Climate Infrastructure and Chief Investment Officer of Transition Capital at BlackRock, said, “We believe this partnership will help unlock the full potential of Recurrent Energy’s impressive renewable energy project development platform. Recurrent Energy is emblematic of our strategy of investing in leading renewable power generation assets and transition-enabling infrastructure, and we are pleased to make this first investment commitment from the fourth vintage of BlackRock’s Climate Infrastructure fund franchise.” https://lnkd.in/eaZuCyyM #recurrentenergy #blackrock #odinglobal
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Managing Director @ Prothea | Renewable Energy, Infrastructure
8moImpressive Lee Moscovitch