The 100% stake sale of Senvion SE is in line with Suzlon’s strategy to reduce the debt and focus on the home market and high growth markets, such as the US and emerging markets including China, Brazil, South Africa, Turkey and Mexico. The...

By Ritesh Gupta

Companies mentioned: Capital Dynamics, GE Energy Financial Services, Morgan Stanley , Briscoe Wind Farm, Wanzek Construction, juwi Wind, ERCOT, Bureau of Ocean Energy Management, Pattern Energy Group, Amazon Web Services Wind Farm (Fowler Ridge), Suzlon Group, Centerbridge Partners, Senvion SE

Senvion sale valued at €1bn in all cash deal

Suzlon Group has signed a binding agreement with Centerbridge Partners, USA to sell 100% stake in Senvion SE, a wholly owned subsidiary of the Suzlon Group.

The deal is valued at €1bn equity value in an all cash transaction and future earn-out of up to an additional €50m.

The 100% stake sale of Senvion SE is in line with Suzlon’s strategy to reduce the debt and focus on the home market and high growth markets, such as the US and emerging markets including China, Brazil, South Africa, Turkey and Mexico. The transaction is expected to be closed before the end of the current financial year.

Capital Dynamics, a global private asset manager, GE Energy Financial Services and Morgan Stanley have completed financing for the 150 MW Briscoe Wind Farm.

The project spans 20,000 acres in Briscoe County, Texas, in the US.

Briscoe Wind Farm will feature 81 General Electric 1.85-87 wind turbines and the project has entered into a 10-year full service agreement with GE to oversee the operation and maintenance of the turbines, with the goal of providing continuity of operations and predictable maintenance costs.

The project rights were acquired by Capital Dynamics from juwi Wind and EBW. juwi developed Briscoe Wind Farm and continues to support the project through a Development Services Agreement. Wanzek Construction will construct the facility with commercial operations expected to begin in the second half of 2015.

The resulting electricity is expected to be sold in the Electricity Reliability Council of Texas (ERCOT) electricity market.

Capital Dynamics’ Clean Energy and Infrastructure (CEI) team completed tax equity agreements with GE Energy Financial Services and Morgan Stanley, and construction debt and letter of credit agreements with Morgan Stanley to construct the project.

Financial closing made on Briscoe Wind Farm

Capital Dynamics, a global private asset manager, GE Energy Financial Services and Morgan Stanley have completed financing for the 150 MW Briscoe Wind Farm.

The project spans 20,000 acres in Briscoe County, Texas, in the US.

Briscoe Wind Farm will feature 81 General Electric 1.85-87 wind turbines and the project has entered into a 10-year full service agreement with GE to oversee the operation and maintenance of the turbines, with the goal of providing continuity of operations and predictable maintenance costs.

The project rights were acquired by Capital Dynamics from juwi Wind and EBW. juwi developed Briscoe Wind Farm and continues to support the project through a Development Services Agreement. Wanzek Construction will construct the facility with commercial operations expected to begin in the second half of 2015.

The resulting electricity is expected to be sold in the Electricity Reliability Council of Texas (ERCOT) electricity market.

Capital Dynamics’ Clean Energy and Infrastructure (CEI) team completed tax equity agreements with GE Energy Financial Services and Morgan Stanley, and construction debt and letter of credit agreements with Morgan Stanley to construct the project.

BOEM moves ahead offshore ambitions

The Bureau of Ocean Energy Management (BOEM) in the US has announced the release of an Environmental Assessment (EA) supporting a potential lease sale for more than 300,000 acres of federal waters off the coast of North Carolina for wind energy development.

To date, the bureau has awarded seven commercial wind energy leases off the Atlantic coast.

BOEM will also hold three public meetings in North Carolina during February to provide an overview of the EA findings and offer additional opportunities for public comments.

The Wind Energy Areas identified by BOEM offshore North Carolina total about 307,590 acres and include the Kitty Hawk Wind Energy Area (about 122,405 acres), the Wilmington West Wind Energy Area (about 51,595 acres), and the Wilmington East Wind Energy Area (about 133,590 acres).

The leases so far include: two non-competitive leases (Cape Wind in Nantucket Sound off Massachusetts and an area off Delaware) and five competitive leases (two offshore Massachusetts-Rhode Island, two offshore Maryland and another offshore Virginia).

BOEM is expected to hold two additional competitive lease sale auctions in 2015: the Massachusetts lease sale will occur on January 29, and the New Jersey lease sale will follow later this year.

Pattern Energy Group expands its ROFO list

Pattern Energy Group has added 116MW of owned interest in the 150 MW Amazon Web Services Wind Farm (Fowler Ridge) project to its list of identified Right of First Offer (ROFO) projects from Pattern Energy Group.

The company plans to begin construction of the project in April and anticipates reaching commercial operation in late 2015 or early 2016.

The Amazon Web Services Wind Farm project, which is located in Benton County, Indiana, has a 13-year PPA to supply Amazon Web Services (AWS), an Amazon.com company, with electricity.

Mike Garland, President and CEO of Pattern Energy, mentiond that in the past 18 months the company has acquired four projects from Pattern Development with an aggregate owned capacity of 557 MW and has also added an additional five projects, including Amazon Web Services Wind Farm, to the ROFO or Right of First Offer list with an aggregate capacity of 553 MW.

juwi to appoint Marcus Jentsch as CEO

Marcus Jentsch is set to be appointed as new chief financial officer (CFO) of juwi, starting from the first of February.

Jentsch was unanimously appointed new CFO by the juwi Supervisory Board. Jentsch has been heading the finance and investor relations department of stock exchange listed utility MVV Energie since 2010.

As part of a capital increase in the end of 2014 MVV Energie AG acquired 50.1% of juwi.