Deals this week: Statkraft, Virginia Electric and Power, and GE-Hitachi Nuclear Energy


Statkraft has raised €500m ($533.47m) from a public offering of bonds as part of its €6bn ($6.74bn) euro medium-term note programme.

Funds raised from the 1.125% bonds due 20 March 2025 are intended for general corporate purposes.

Virginia Electric and Power Company has announced the pricing for its series A senior notes to raise $750m in gross proceeds.

Due 15 March 2027, the notes will carry an interest rate of 3.5% and yield 3.511% upon maturity.

Interest is payable semi-annually in March and September of each year starting from 15 September 2017. Proceeds are intended for repayment of short-term debt and for general corporate purposes.

Based in the US, Virginia Electric and Power Company is an electrical utility firm.

GE-Hitachi Nuclear Energy and Advanced Reactor Concepts have signed a memorandum of understanding (MoU) to collaborate in the development and licensing of an advanced small modular reactor (aSMR).

"Gaelectric has partnered with French power generation company Ideol to develop floating offshore wind energy projects in Irish waters."

Based on mature Generation IV sodium-cooled reactor technology, the aSMR is planned to be deployed initially in Canada. Both companies involved in the transaction are based in the US.

GE-Hitachi Nuclear Energy offers reactors and nuclear services, whereas Advanced Reactor Concepts provides clean energy solutions.

Gaelectric has partnered with French power generation company Ideol to develop floating offshore wind energy projects in Irish waters.

Ideol will provide its Damping Pool technology for the projects.

The companies plan to develop a turbine array project, with installed capacity exceeding 30MW, followed by commercial-scale extension on both Irish coasts in future.

Sungevity has agreed to sell assets, including equity interests in European operations, to a group of investors led by Northern Pacific Group.

Sungevity has voluntarily filed Chapter 11 proceedings in the US Bankruptcy Court for the District of Delaware and intends to strengthen its balance sheet and recapitalise the company through sale proceeds.

Northern Pacific Group is a private equity company based in the US.