Wednesday 5th September 2018

Triton Knoll secures $1.75bn financial close and PPA deal

A group led by Innogy has reached a £1.75bn financial close on the 860MW Triton Knoll scheme in UK waters and secured a power purchase agreement.

A consortium of 15 banks including Sumitomo, MUFG and KfW IPEX-Bank has provided £1.75bn of debt facilities to build Triton Knoll. In addition, Danish giant Ørsted has agreed to acquire the total output produced by Triton Knoll for 15 years. MHI Vestas is set to provide 90 of its 9.5MW turbines for the project.
Triton Knoll is owned by Innogy (59%), J-Power (25%), and Kansai (16%).

GIP closes $1.35bn deal for three NRG arms

Global Infrastructure Partners has closed a $1.35bn deal for NRG Energy's development and O&M arms, and a 46% stake in NRG Yield.

GIP agreed in February to buy the three parts of NRG's business for $1.35bn and the transaction has now been completed. NRG Yield, which owns 32 wind farms totalling 3GW, is set to change its name to Clearway Energy. The deal also includes NRG's O&M division, which manages 2.4GW of renewables projects in 17 stakes, and its development arm, with a 6.4GW project pipeline.

EDP Renováveis secures support for 429MW in Brazil

EDP Renováveis has secured support for two wind farms with a combined capacity of 429MW in Brazil’s latest 2.1GW renewable energy auction.

EDP Renováveis has secured 20-year power purchase agreements with the Brazilian government for its 253MW Monte Verde wind farm, at a price of BRL87/MWh ($21/MWh), and for its 176MW Jerusalem project at BRL94/MWh ($22.6/MWh). In total, the Brazilian government has agreed to support 48 wind farms totalling 1.2GW at an average price of BRL90.45/MWh ($21.76/MWh).

Statkraft signs first PPA for the German wind market

Norwegian utility Statkraft has agreed to buy the output produced by six wind farms in Germany totalling 46MW, in the first wind PPA deal for the country.

The six wind farms are located in Lower Saxony and are owned by citizen-groups. The agreements are set to start from 2021, when the subsidy support from the German government is due to expire. Statkraft will buy the output produced by the schemes for three to five years, to power industrial companies.

EDPR secures 50MW PPA for 200MW US project

EDP Renewables has secured a 50MW power purchase agreement for its 200MW Broadlands wind farm in Illinois.

An unnamed energy company has agreed to purchase 50MW of output from the wind farm, which is set to be completed in 2019. The entire output of the project is now backed by PPAs, following a 100MW PPA with the Wabash Valley Power Association and a 50MW PPA with an unnamed commercial & industrial entity, both signed in May.