Morning Brief: CEI acquires 353 MW Coronal Energy portfolio, Inovateus Solar wins equity investment


Inovateus Solar, a privately-held Midwest solar project developer and EPC for utilities, businesses, municipalities, and education, won an undisclosed investment from private equity firm Middleburg Capital Development (MCD). MCD’s investment will let Inovateus to further expand its solar development operations beyond the Midwest and to provide its customers with expanded services and project financing opportunities. Inovateus has led the installation and financing of over 453 MW of utility, commercial, educational, and municipal solar projects built and under development in the Midwest, mid-Atlantic, and the Southeastern U.S.

Clean Energy Infrastructure (CEI), a business of private asset manager Capital Dynamics, completed the acquisition of a portfolio of 16 operating solar projects from Coronal Energy. The portfolio comprises 353 MW of operating solar capacity. Each asset utilizes is fully contracted under long-term power purchase agreements. Capital Dynamics’ Clean Energy Infrastructure is one of the largest renewable energy investment managers in the world with $6.4 billion AUM. Source: Capital Dynamics

U.S. Energy Secretary Dan Brouillette blames activists for a pair of high-profile pipeline setbacks in recent days, including a court’s decision to force Energy Transfer Partners to close its Dakota Access crude oil pipeline over its environmental impact study. Separately, Dominion Energy and Duke Energy on Sunday announced they would cancel the Atlantic Coast Pipeline, meant to move natural gas from West Virginia to East Coast markets, due to “ongoing delays and increasing cost uncertainty” surrounding the project. Source: Reuters

Governor Ralph Northam just launched Clean Energy Virginia, an initiative to drive investment in renewable energy and energy efficiency and help meet the Commonwealth’s goals for clean energy production, which include powering 100% of Virginia’s electricity from carbon-free sources. Source: Gov.

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