Ontario Power Generation (OPG) has agreed to acquire the entire equity of Eagle Creek Renewable Energy under a $298m purchase and sale agreement made with the affiliates of Hudson Clean Energy Partners and other shareholders.
OPG proposes to finance the acquisition through its corporate public debt programme or other available credit facilities.
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The acquirer is a power company wholly owned by the government of Ontario, while the target company owns and operates small hydroelectric power facilities in the US.
OPG has engaged BMO Capital Markets as the financial adviser for the transaction.
Kibo Energy has signed a memorandum of understanding (MOU) to acquire a 60% equity interest in Mast Energy Developments (MED).
Kibo plans to purchase the stake by making a cash payment of £300,000 ($382,000), to the existing MED shareholders in new Kibo shares and a share of future project revenue royalties.
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By GlobalDataThe royalties are proposed to be reinvested in the company in the short term to an amount of £2.2m ($2.8m).
Based in Tanzania, Kibo is an Africa-focused energy company and also engaged in minerals exploration and development, while MED is a private UK-based company engaged in the development and operation of flexible power plants.
Japan-based Mitsui & Co has signed an equity investment agreement with PXiSE Energy Solutions for the development and sales of the latter’s high-speed patented software.
The software is designed to benefit utilities, grid operators, power generators and commercial customers.
Mitsui will acquire an equity stake of up to 20% in PXiSE Energy Solutions as part of the agreement. It will also collaborate in the sales and marketing activities internationally through the company’s global network.
Mitsui & Co is engaged in general trading business, while PXiSE Energy Solutions is a subsidiary of US-based utility Sempra Energy.
