Deals this week: Dominion Resources, Enel, Sunrun, Rolls-Royce, and Southern Power Company
Dominion Resources has announced two senior notes offerings to raise $400m each.
These include a Series A offering of 1.875% notes due 15 January 2019, priced at 99.931% of the principal amount, and a Series B offering of 2.75% notes due 15 January 2022, priced at 99.856% of the principal amount.
Proceeds will be used to finance capital expenditures, future acquisitions, to repay debt securities, and for general corporate purposes.
Enel subsidiary Enel Finance International has announced a private placement of 1% bonds as part of its Euro Medium Term Notes (EMTN) programme.
Due 16 September 2024, the bonds will be offered to institution investors to raise €1.25bn ($1.32bn) in gross proceeds.
The funds will provide financing for eligible green power projects in accordance with the Green Bond Principles 2016 published by the International Capital Market Association (ICMA).
Sunrun has partnered with the US National Grid to jointly own residential rooftop solar assets with a combined installation capacity of 200MW.
National Grid will directly invest in Sunrun rooftop solar systems and has committed $100m in equity to the partnership.
The partnership aims to accelerate the adoption of rooftop solarpower and will initially target 10,000 families in the downstate New York area.
Rolls-Royce has announced its intention to partner with Amec Foster Wheeler, Nuvia, Arup Group, and Nuclear Advanced Manufacturing Research Centre.
The partnership aims to develop small modular reactors (SMR). All the companies involved in the transaction are based in the UK.
Southern Power Company has acquired a 276MW Bethel windfarm in Texas from Invenergy Services.
Based in the US, Southern Power Company is a power generation, distribution, and transmission company.
The windfarm was constructed by Blattner Energy and is expected to be commissioned in January 2017.
Google Energy will purchase the majority of generated power and associated renewable energy credits under a long-term purchase agreement.