Finance

Southern Company sells off 1/3 stake in solar portfolio to Global Atlantic

The retirement and insurance provider will pay $1.2 billion for a share of the power giant’s 1.7 GW solar portfolio. Southern will still operate the projects.

Sonnen secures $70 million from Shell for US, Aus expansion

The battery integrator has already began to draw on the funds as it continues to expand its market presence in the United States and in Australia. Shell Ventures is now a major sonnen investor and and the companies have agreed to future cooperation.

CDPQ takes majority stake in Invenergy Renewables

Invenergy plans to maintain day-to-day management of its renewable energy business, with the Québecois fund manager increasing its economic stake to 52%.

Rush to gas risks hundreds of billions in stranded assets

A new report by Rocky Mountain Institute finds that gas plants proposed across the United States over the next 15 years could be replaced by clean energy portfolios at a net savings, and that these projects are at risk of becoming stranded assets.

Recurrent closes on financing for 75 MW-AC solar project in North Carolina

Prudential is providing $107 million in debt for the project in Cabarrus County which will be one of the largest in the state when complete.

Solar power funding collapses during Q1

The section 201 case took a big bite out of corporate solar and large-scale project funding, and the quarter also saw a stunning $8.3 billion in reported mergers and acquisitions.

Warren Buffett utility says no new gas

Pacificorp, a Berkshire Hathaway electricity utility serving six Western states, said it has no plans to build new gas or coal in the coming decades, but instead plans to add 2.7 GW of wind and 1.8 GW of solar.

Panasonic, Tesla reveal plan to produce lithium batteries in China

Tesla’s batteries may soon be Made in China. The announcement was made by Panasonic CEO Kazuhiro Tsuga during a conference accompanying the company’s 2018 fiscal-year results.

Sunrun deployments down 7%, but revenue up 36%

The company reiterated full-year guidance of 15% growth in deployments – and cash generation at even higher rates.

Onyx Renewables gets funding for 80 MW of C&I + small utility solar power

CIT Group and RBC Capital worked together to fund the portfolio of projects spread across six states, with half the capacity in California and Arizona and the other half in the northeast.

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