The Briefing on Power
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Canada Pension Plan Investment Board (CPPIB) has agreed to acquire US-based renewable energy company Pattern Energy Group in a deal valued at $6.1bn, including its net debt. Under the deal, CPPIB will pay $26.75 per share to Pattern Energy shareholders.
Israeli investment company Novasec has secured the exclusive rights to raise €80m to fund the Gecama windfarm in the Castile-La Mancha region of Spain.
Entergy Mississippi has completed the acquisition of 810MW Choctaw County Generating Station. The deal was first announced in August 2018 when Entergy Mississippi entered into a purchase agreement with a subsidiary of GenOn Energy to acquire the facility for $314m.
SoftBank Group subsidiary SB Energy has agreed to acquire five solar plants in the US with a combined capacity of 1.7GW from utility-scale renewable energy developer Intersect Power.
Norwegian energy company Equinor has awarded contracts worth Nkr3.3bn ($359m) on behalf of Gullfaks and Snorre partners for the development of Hywind Tampen windfarm. The companies that secured the contracts include Siemens Gamesa Renewable Energy (SGRE), JDR Cable System, Kværner and Subsea 7.
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top projects kicking off this month
Luminous Energy begins work on solar project in Australia
UK-based solar and storage projects developer Luminous Energy has initiated connection works for its proposed 162MW Columboola Solar Farm in Queensland, Australia. Located near Miles, Columboola is Luminous’ largest project to date and it will be connected to Powerlink’s transmission network.
Scatec and partners conclude 390MW Benban solar project in Egypt
Scatec Solar and its partners have completed the 390MW Benban project in Egypt by connecting the last of the six 65MW solar power plants to the power grid. Located near Aswan in Upper Egypt, the project is part of the 1.8GW Benban solar park.
Enel Green Power opens €300m windfarm complex in Greece
Italian multinational renewable energy company Enel Green Power has opened its new €300m Kafireas windfarm in Greece. Located in the municipality of Karystos (Evia), the windfarm has a total installed capacity of 154MW and will be able to generate about 480 GWh annually.
With coal in decline, the US could also get cut out of the global natural gas market. China and India may be key.
As China and India look to cut coal exports and increase their use of natural gas, the US should be in a strong position to capitalise on that demand and export related technologies. However, with the ongoing trade dispute between the US and China, the nation is instead placing itself at long-term risk of being cut out of a major market.
Read more: Forbes
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