Deals this week: Kohlberg Kravis Roberts & Co, Thermion Energy, Fortis

30 March 2018 (Last Updated March 29th, 2018 10:23)

Kohlberg Kravis Roberts & Co plans to invest up to Rs.5bn ($77m) in Leap Green Energy.

Kohlberg Kravis Roberts & Co plans to invest up to Rs.5bn ($77m) in Leap Green Energy.

The investment will be used to meet Leap Green Energy’s capital requirements for developing windfarms with a combined installed capacity of 750MW.

Kohlberg Kravis Roberts is a US-based private equity firm, while Leap Green Energy is a renewable energy company based in India.

Thermion Energy has acquired the 171MW Los Molinos wind project from Corporacion Mexicana de Hidroelectricidad (Comexhidro).

Thermion Energy is a clean energy provider while Corporacion Mexicana de Hidroelectricidad (Comexhidro) is engaged in power generation.

Both the companies involved in the transaction are based in Mexico.

The acquisition will strengthen Thermion Energy’s portfolio and enable the company to focus on current and future energy procurement challenges.

Fortis plans to issue common shares in an at-the-market (ATM) equity offering to raise C$500m ($387.58m).

The company has engaged Stikeman Elliott as its Canadian legal adviser, and Paul, Weiss, Rifkind, Wharton & Garrison as US legal advisers for the transaction.

The proceeds from the offering are intended to be used for general corporate purposes.

“The acquisition will strengthen Thermion Energy’s portfolio and enable the company to focus on current and future energy procurement challenges.”

Enel Distribucion Peru has raised $31m through a public offering of Class A corporate notes.

Based in Peru, Enel Distribucion Peru is engaged in power distribution.

Formerly known as Empresa De Distribucion Electrica De Lima Norte, the company has engaged BBVA Continental as its structuring agent and lead manager, while Lazo, De Romana & CMB Abogados has been engaged as legal advisers for the transaction.

Innogy Renewables Ireland has reached an agreement with Saorgus Energy to acquire a 50% stake in the 600MW Dublin Array offshore wind project in Ireland.

Both the companies involved in the transaction are based in Ireland and engaged in power generation from renewable sources.

Pacific Energy has agreed to raise gross proceeds of A$20m ($15.42m) by issuing 40 million shares priced at A$0.5 ($0.38) a share in a rights offering.

One new share of the company will be issued for every nine shares held by the shareholders, as part of the offering.

Major Pacific Energy shareholder Ken Hall and all directors have agreed to take up the rights issue entitlement in full.

Based in Australia, Pacific Energy is engaged in power generation with a focus on renewable power stations.

NRG Energy has acquired four solarpower plants in Minnesota, US, which have a combined installed capacity of 28MW from OYA Solar.

Based in the US, NRG Energy is an integrated power company, while OYA Solar is a Canadian renewable energy company.