Deals this week: Neoen, Renesola, Dubai Electricity and Water Authority

23 March 2018 (Last Updated March 22nd, 2018 11:04)

Neoen has secured A$101m ($77.81m) in project financing from Germany-based project and export financier KfW IPEX-Bank.

Neoen has secured A$101m ($77.81m) in project financing from Germany-based project and export financier KfW IPEX-Bank.

The company will use the funds to develop the 194MW Bulgana windfarm in Victoria, Australia.

Victoria will purchase 90% of the power generated by the windfarm, while Nectar Farms will purchase the remaining 10%.

Based in France, Neoen is engaged in generating electricity using renewable sources.

Renesola and Green City Energy have established a joint holding company to develop solar parks in southern France with a total capacity of 69MW.

ReneSola will hold a 95% stake of the joint venture (JV) during the development phase. Green City Energy will take control of the plants on completion.

Based in China, Renesola is engaged in renewable energy generation, while Green City Energy is a subsidiary of Green City based in Germany.

Dubai Electricity and Water Authority (DEWA) and ACWA Power Barka SAOG have agreed to invest in the fourth construction phase of the Mohammed bin Rashid concentrated solarpower (CSP) project in Dubai, UAE.

Estimated to cost AED14bn ($3.81bn), the project will have an installed capacity of 700MW.

“Sterlite Power Grid Ventures has acquired the Goa-Tamnar transmission project in Chhattisgarh.”

Based in the UAE, DEWA provides power generation, water desalination and development services, while ACWA Power is a Saudi Arabia-based company engaged in power generation and operation of desalinated water production plants.

Sterlite Power Grid Ventures has acquired the Goa-Tamnar transmission project in Chhattisgarh for Rs15bn ($229.83m).

Based in India, Sterlite Power is engaged in power transmission.

The acquisition will extend the company’s inter-state transmission projects portfolio to 21 states.

Asia Cement and Copenhagen Infrastructure Partners have agreed to develop the 450MW Hsinchu offshore windpower project in Hsinchu, Taiwan, with an estimated investment of TWD60bn ($2.05bn).

Asia Cement will invest between TWD20bn ($680m) and TWD30bn ($1.02bn) and hold more than a 60% stake in the farm.

Based in Taiwan, Asia Cement is engaged in cement manufacturing, while Copenhagen Infrastructure Partners is a fund management company based in Denmark.

European Energy has raised €25m ($30.74m) in a public offering of EURIBOR (three months) + 7% senior secured callable floating-rate bonds due May 2021.

Based in Denmark, European Energy is a renewable energy company focused on the development of wind and solar farms.

Global Power Generation (GPG) has reached an agreement with Canadian Solar to acquire Guimarania I and Guimarania II solar photovoltaic (PV) projects in Minas Gerais, Brazil.

The company will invest €95m ($116.7m) to develop the projects, which will have a combined installed capacity of 83MW.

Based in Spain, GPG is engaged in renewable energy generation, while Canadian Solar is a renewable energy company based in Canada.

The acquisition is expected to strengthen GPG’s position in the Latin American renewable generation market and double its generation capacity in the Brazilian market.