Boralex has formed a joint venture (JV) with UK-based company Infinergy to develop a pipeline of onshore wind projects with a combined capacity of 325MW in Scotland.
Both companies involved in the transaction develop renewable energy. Boralex and Infinergy will own equal stakes in the JV and will invest approximately £6.6m ($8.76m) by the end of 2019 to develop a pipeline of ten wind projects varying from 6MW to 80MW in capacity.
Boralex will solely provide £5.5m ($7.3m), which will allow the company the right to acquire or resell the projects.
Infinergy will act as the principal developer of the JV’s projects.
Boralex has engaged K&L Gates as its legal advisor, while Infinergy has engaged Pinsent Masons as a legal advisor and JLL as its financial advisor for the partnership.
China Everbright International has agreed to invest CNY168m ($24.76m) for the construction and development of the second phase of Rizhao waste-to-energy project in Shandong Province, China.
To be built on a build-operate-transfer (BOT) basis, the Phase II will have a daily household waste processing capacity of 400t.
The successful completion of Phase II will increase the project capacity to 1,000t enabling the generation of approximately 130 million kWh of green electricity a year on an average.
IRICO Group New Energy has reached an agreement to raise CNY500m ($76m) in gross proceeds through a private placement of up to 500 million new H shares.
The offering follows the company’s announcement, made on 24 July 2017, for raising up to CNY2bn ($303.9m) in a private placement.
Zhangjiagang Yuefeng Jinchuang Investment has agreed to subscribe to the offering.
IRICO Group New Energy is a China-based company that manufactures and sells luminous material, liquid crystal related products, and solar photovoltaic (PV) glass.
The company has engaged China Securities (International) Corporate Finance Company as its financial advisor for the offering.