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Advanced Power Secures $100M Credit Facility for 8GW Energy Pipeline
Dispatch Energy Secures $209M for Distributed Generation Expansion
Howard Energy Partners Acquires EPIC’s 120-Mile Ethylene Pipeline
Arcadium Lithium’s Acquisition by Rio Tinto Gets CFIUS Clearance
The almost headlines
In case you missed
Funding Breakdown: $290M in construction/term debt from Natixis CIB; $125M in tax equity from Advantage Capital.
Project Details: Located in Ector County, Texas, will support Occidental’s Direct Air Capture facility.
Operational Goals: Expected to start production mid-2025, providing zero-emission solar power.
Collaboration: Marks the third partnership between Origis and Natixis, with Latham & Watkins advising Origis.
Project Overview: 185 MW solar and 400 MWh battery storage project in Lincoln County, Nevada.
Economic Impact: Estimated $80M in tax revenue for Lincoln County over the project’s lifespan.
Key Partners: Bechtel handling construction, Tesla supplying battery systems, and JinkoSolar providing PV modules.
Power Supply: Long-term agreements with four major Nevada customers.
Financing Secured: $100M facility supports Advanced Power’s 8GW pipeline, including solar, battery storage, and low-carbon projects.
Strategic Focus: Investments aim to address increasing energy demand from data center growth and population shifts.
Geographic Scope: Projects span U.S. markets like ERCOT and Desert Southwest, emphasizing zero-carbon and efficient energy systems.
Long-Term Goals: Advanced Power plans to strengthen low-carbon energy infrastructure across North America and Europe, with 11GW in development.
Project Scope: Two UK projects totaling 2 GWh to power 250,000 homes for one day.
Carbon Impact: Expected to displace 4.57M metric tons of CO2 over their lifespans.
Technology: Will deploy 450 SolBank 3.0 battery containers to stabilize the grid and support renewable energy.
Construction Timeline: Projects slated to begin in 2027.
Transaction Scope: EQT’s investment in Scale Microgrids supports its 2.5 GW development pipeline across distributed energy technologies like solar and storage.
Market Strategy: Scale addresses grid challenges, providing cost savings and enhancing resiliency for customers.
Growth Focus: EQT plans strategic investments in Scale’s commercial processes and technology platforms to position it as a market leader.
Broader Vision: Marks EQT’s first North American clean energy investment, aligning with its Transition Infrastructure strategy.
Capital Raised: Over $209M in debt and equity will accelerate Dispatch Energy’s distributed generation and storage initiatives.
2025 Investments: Includes $28M for fuel cell facilities and $150M for diverse energy projects.
Operational Expertise: Dispatch manages over $1.5B in generation assets, driving the commercial energy transition with scalable infrastructure solutions.
Transaction Value: GFL Environmental Inc. to sell its Environmental Services business for an enterprise value of $8 billion.
Use of Proceeds: Plans to repay up to $3.75 billion in debt and execute up to $2.25 billion in share buybacks, while retaining a 44% equity stake.
Financial Impact: Reduces net leverage to 3.0x, cutting $200M in annual cash interest expenses and improving free cash flow conversion.
Partners: Apollo and BC Partners will each hold a 28% equity interest in the business. GFL retains synergies with its Solid Waste operations.
Funding Details: Raised $26.4M led by Sequoia Capital to scale Gridscope devices and services.
Technology Impact: Real-time grid health monitoring reduces outages by over 70%, enabling responses in minutes.
Deployment Progress: Expanded to over 1,000 miles of power lines after successful pilots.
Utility Partnerships: Trusted by utilities serving millions across multiple U.S. states, enhancing safety and efficiency.
Financing Details: $131M commitment supports platform optimization, market expansion, and the $32.5M acquisition of Accelerated Innovations.
Strategic Impact: Acquisition enhances VertexOne’s analytics and customer engagement tools, strengthening its position in utility markets.
Pipeline Highlights: Bidirectional 120-mile pipeline connecting Corpus Christi to Markham, Texas.
Strategic Fit: Enhances Gulf Coast presence, supporting HEP’s Javelina Plant operations.
Growth Milestone: Part of HEP’s record $1.1B M&A activity in 2024, expanding its 1,500-mile pipeline network.
Market Position: Strengthens HEP’s role in petrochemical transportation and processing infrastructure.
Offering Details: Priced at 8.50%, oversubscribed by over 5x, reflecting strong investor demand.
Proceeds Usage: Funds will reduce revolver borrowings and support growth in carbon-neutral natural gas production.
Operational Footprint: Produces 400 MMcfe/day across 162,000 acres in Texas' Eagle Ford Shale.
Sustainability Goals: Focused on net-zero operations, aligning environmental responsibility with energy production.
Regulatory Approval: Cleared by CFIUS; merger control satisfied in the U.S., UK, and other major markets.
Pending Approvals: Requires further investment screening in Australia, Canada, and Italy.
Timeline: Transaction expected to close by mid-2025.
Strategic Alignment: Arcadium focuses on lithium innovation for renewable energy and electric transportation across global markets.
DOE Awards Pioneer Energy $5M for Emissions Reduction
Grant Supports scaling Pioneer’s Emission Control Treater (ECT) for marginal well sites, reducing methane emissions.
Cemvita Expands to Brazil to Champion Circular Bioeconomy
Strategic Move: Cemvita establishes a Brazilian subsidiary to support bioeconomy initiatives and sustainable fuel mandates under the Fuel of the Future Law.
Bechtel to Build 226 MW Escape Solar Project in Nevada
Project Scope: 226 MW DC facility with bifacial PV panels over 900 acres, powering MGM Resorts and Caesars Entertainment.
ION Storage Systems Strengthens Leadership to Advance Solid-State Battery Tech
Key Appointments: Jorge Diaz Schneider (CEO), David McKenery (President & General Counsel), and Eric Lind (CCO) join to drive commercialization.
APA Corporation Finalizes $850M Private Notes Offering
Offering Details: $350M at 6.10% due 2035 and $500M at 6.75% due 2055, totaling $846M in gross proceeds.
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.
