KKR and PSP acquire 19.9% equity interest in two AEP Transcos, covering 5% of AEP’s $56B transmission rate base.
Funds support AEP's $54B capital plan (2025–2029) and offset $5.35B in equity financing needs.
Assets include transmission lines in Ohio, Indiana, and Michigan, where demand growth has surged.
AEP retains control of its transmission system, the largest in the U.S., spanning 29,000 MW of generating capacity.
Deal closes in H2 2025, pending Federal Energy Regulatory Commission and CFIUS approval.
Acquisition blends Constellation’s 24/7 emissions-free electricity with Calpine’s low-emission natural gas and renewables.
Combined entity serves 2.5M customers, reinforcing Constellation’s position as the cleanest U.S. energy producer by carbon intensity.
Financial breakdown: $4.5B cash, 50M Constellation shares, $12.7B assumed Calpine debt, equating to a $26.6B net price.
Regulatory approval anticipated within 12 months; Constellation retains headquarters in Baltimore and expands presence in Houston.
Emphasis on R&D for clean technologies and community-focused initiatives, aligning with both companies' sustainability goals.
$782M in initial funding targets scaling SAF production to 300M gallons/year.
Expansion creates 450 construction jobs, 40 operational roles, and boosts local agricultural feedstock use.
Facility positioned as North America's largest SAF producer upon completion.
ENGIE will supply Meta with 200 MW of solar power from the Anson 2 Solar Project in Jones County, Texas, operational by late 2025.
This deal brings the total collaboration between the two companies to 460 MW of renewable energy in 2024 alone.
Meta has procured over 12 GW of renewable energy since 2020 to meet the growing power needs of its data centers and maintain net-zero emissions.
ENGIE, with 8 GW of renewables in North America, strengthens its position as a leading global provider of renewable power purchase agreements.
€115M raised by XOCEAN from Morgan Stanley’s 1GT, S2G Ventures, and others to scale ocean data services.
XOCEAN's Uncrewed Surface Vessels cut CO2 emissions by 99.9% vs. traditional survey ships.
Fleet has delivered 4.9M+ GB of data across 23 jurisdictions, supporting offshore wind projects.
The Net Zero Asset Managers initiative (NZAM) pauses operations to reassess its strategy after BlackRock’s withdrawal.
Regulatory shifts and evolving client expectations drive NZAM’s review, aiming to align with global decarbonization challenges.
Activities, including tracking signatory progress and reporting, are suspended during the review.
NZAM removes its commitment statement and signatory targets from its website but commits to transparency throughout the review.
Previously, NZAM helped global investors align with energy transition goals while maintaining fiduciary and financial responsibilities.
Kinder Morgan acquires a gas gathering and processing system in North Dakota’s Williston Basin from Outrigger Energy II, a private midstream energy company.
Outrigger’s system includes a 270 MMcf/d processing plant and a 104-mile rich gas pipeline with 350 MMcf/d capacity.
Outrigger Energy II, backed by NGP Energy Capital Management
Kinder Morgan operates 79,000 miles of pipelines, handling diverse energy products, and continues expanding its natural gas infrastructure portfolio.
Regulatory approval is anticipated by Q1 2025, reinforcing Kinder Morgan's leadership in energy infrastructure.
Acquired 8,000 net acres producing 7,200 boe/d (72% oil) in Texas' Howard, Borden, and Midland counties.
Deal includes 63 horizontal wells, existing infrastructure, and equity backing from Langford Energy Partners I, LP.
Acquisition reflects Langford's growth in operated oil and gas investments.
Agreement focuses on deploying AP300 SMRs for clean energy and industrial applications in New Brunswick.
Collaboration highlights Indigenous-led innovation and economic benefits for First Nations.
AP300 technology combines a compact footprint with load-following capability, boosting clean energy goals.
Devon Energy Promotes Key Leaders Amid CEO Transition
John Raines elevated to SVP, E&P Asset Management; Trey Lowe named SVP & CTO.
CNX Resources Prices $200M Senior Notes
7.250% senior notes due 2032 priced at 100.5% of par, closing January 21, 2025.
PPL Corporation Reshuffles Leadership After COO Retirement
COO role eliminated after Fran Sullivan retires in April 2025.
Southwestern Electric Cooperative Partners with Landis+Gyr for Smart Grid Tech
24,500 members to benefit from advanced grid sensing via the Revelo platform.
First Reserve Promotes Three Leaders to Powerhouse Positions
Yuri Larrabee named Managing Director; Wes Fischer and Jonathan Lee promoted to Directors.
Check out the latest Sunya Stories podcast with JP Morgan’s Rama Variankaval.
Rama Variankaval is Global Head of Corporate Advisory & Sustainable Solutions at J.P. Morgan. This group combines the capabilities of Corporate Finance Advisory, Center for Carbon Transition, Sustainable Solutions, and Infrastructure Finance Advisory.
We talk energy transition, carbon reduction, and the impact of AI on energy.
This episode is audio-only and you can find it on Spotify or Apple Podcasts as well.
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.