Genex Power has entered a sale and purchase agreement with Vast Solar to acquire the 50MW Jemalong solar project (JSP), near Forbes in the central west region of New South Wales.
JSP is expected to complement Genex’s existing solar and hydro power projects in North Queensland. The acquisition is in line with the company’s long-term strategy to expand its portfolio of assets and diversify into other regions within the national electricity market.
Genex Power is engaged in providing clean energy generation and power storage solutions, while Vast Solar is focused on developing low-cost, modular, concentrating solar thermal power (CSP) technology with integrated thermal storage.
Both companies involved in the transaction are based in Australia.
Clearway Energy Group has acquired SunPower’s utility-scale solar project pipeline, with a total capacity of 4.7GW.
SunPower has sold the assets in a bid to move away from utility-scale development business.
Based in the US, Clearway Energy Group is a newly formed subsidiary of Global Infrastructure Partners (GIP) and is engaged in renewable energy generation and distribution. SunPower is an energy company engaged in designing and manufacturing crystalline silicon photovoltaic cells and solar panels, and is also based in the US.
Hanergy Thin Film Power has secured a $130m contract from FGS for the supply of 100MW of thin-film solar roof tile systems.
Forest Group is a Japan-based company engaged in solar power business and a subsidiary company of Forest Group.
NextEra Energy Partners has reached an agreement with a subsidiary of NextEra Energy Resources for acquiring a portfolio of 11 wind and solar projects for $1.275bn.
The consideration comprises approximately $930m in tax equity financing and $38m in non-recourse project debt.
The solar and wind projects are located throughout eight US states and are capable of generating approximately 1.39GW of clean energy.
NextEra Energy Partners intends to finance the acquisition by using $573m in proceeds raised through the sale of its Canadian assets and from an existing credit facility.
The company also raised $750m from a fund managed by BlackRock Global Energy & Power Infrastructure (Fund) in convertible equity portfolio financing. In exchange, the Fund will earn an equity interest in the entity owning the portfolio.
NextEra Energy Partners is engaged in the acquisition and management of contracted clean energy projects, while NextEra Energy Resources is engaged in wholesale electricity supply. Both companies are based in the US.