Avangrid Renewables developing largest solar project in Oregon for PGE

solarpowerworldonline | February 12, 2020

Portland General Electric and Avangrid Renewables, a subsidiary of Avangrid, announced an agreement to purchase power from a new 162-megawatt solar generation facility — the largest in Oregon — to be developed and built in eastern Oregon. The new facility will supply power and the accompanying renewable energy credits to PGE’s Green Future Impact customers, helping them source up to 100% of their energy from a local renewable energy resource that they’ve helped make possible. “We’re proud to meet growing customer demand for clean energy,” said Maria Pope, president and CEO of Portland General Electric. “These partnerships are critical for creating jobs, thereby creating a green economy and accelerating clean energy delivery to customers.”

Spotlight

Clean-burning and domestically-abundant natural gas powers our lives in more ways than you might imagine – as an ingredient in every day products, as a heat source for other products, and increasingly to generate electricity.

Spotlight

Clean-burning and domestically-abundant natural gas powers our lives in more ways than you might imagine – as an ingredient in every day products, as a heat source for other products, and increasingly to generate electricity.

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SOLAR+STORAGE

Mississippi Power seeks solar photovoltaic renewable energy proposals

Mississippi Power | February 07, 2022

Mississippi Power announced a request for proposals for solar photovoltaic renewable resources. Qualifying proposals submitted through this RFP will afford Mississippi Power an opportunity to review market offerings of RFP resources. The company will determine whether there are economic and viable energy projects suitable to meet the needs of its customers. The submitted projects must be at least 20 MWAC. Mississippi Power will consider proposals for 25-year term energy-only power purchase agreements for solar photovoltaic renewable resources from bidders who are not affiliates of Mississippi Power or Southern Company. Mississippi Power would receive all the environmental attributes from the projects. Resources must be located in Mississippi and must be directly interconnected with Mississippi Power's transmission system. Bids for the RFP must be received by 6 p.m. CST on March 15, 2022. Now in its 97th year of operations, Mississippi Power, a subsidiary of Southern Company, produces safe, reliable and affordable energy for nearly 191,000 customers in 23 southeast Mississippi counties. With nearly 160 megawatts of approved solar energy capacity, Mississippi Power is the largest partner in providing renewable energy in the state of Mississippi.

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ENERGY

Ares Management Corporation Announces Agreement to Acquire AMP’s PrivateMarketsCo Infrastructure Debt Platform

Ares Management Corporation | December 27, 2021

Ares Management Corporation (“Ares”), a leading global alternative investment manager, announced that its subsidiary, Ares Holdings L.P., has entered into a definitive agreement to acquire AMP’s PrivateMarketsCo Infrastructure Debt platform (“Infrastructure Debt”), one of the largest infrastructure debt investment platforms globally with approximately US$8 billion in assets under management, as of September 30, 2021. The transaction consideration is A$428 million (US$308 million) and will be funded using cash on hand and Ares’ US$1.1 billion revolving credit facility. The Infrastructure Debt team is led by its Global Head, Patrick Trears, and has 17 dedicated investment professionals located across London, Sydney, Singapore and New York. The team has established a strong risk-adjusted, long-term track record investing approximately US$9 billion of capital across nearly 60 transactions globally with a focus on the digital, utilities, transportation and renewable energy sectors. With a leading reputation among sponsors and developers, the team brings robust direct investment origination and high-quality deal flow capabilities. Given its strong positioning and the compelling market dynamics, the Infrastructure Debt platform has been a leading fundraiser over the past five years with support from a global investor base of approximately 100 institutional investors. This transaction adds complementary investment capabilities to Ares’ current activities in the rapidly growing infrastructure asset class. The Infrastructure Debt team is anticipated to expand and enhance Ares’ existing infrastructure strategy, which has historically focused on value-add equity and flexible capital across the power and climate infrastructure sectors. As part of Ares, the Infrastructure Debt team will be positioned to benefit from the advantages of Ares’ scaled global platform that includes its leading private credit franchise. This combination is expected to bolster future investment, market intelligence and fundraising efforts. We are pleased to announce this acquisition of a highly complementary infrastructure debt platform. We believe that this strategic combination will further propel our infrastructure investment capabilities and expand our global footprint.The team shares a similar credit mindset with Ares, and our infrastructure leadership has enjoyed a great relationship with Patrick and other senior leaders for over a decade. Together we believe we are well-positioned to leverage the full scale of the Ares platform and relationships to provide optimal capital solutions for our investment partners and generate attractive risk-adjusted returns for our investors.” Michael Arougheti, Chief Executive Officer and President of Ares Upon closing of the transaction, Infrastructure Debt will be led by Patrick Trears and will be reported as part of a new segment for Ares called the Ares Real Assets Group. This segment will also include Real Estate led by Bill Benjamin and Infrastructure Equity led by Keith Derman and Andrew Pike. The Ares Real Assets Group would represent approximately US$48 billion of assets under management as-adjusted for the transaction, as of September 30, 2021. The transaction is expected to be immediately accretive to Ares’ after-tax realized income per share of class A common stock. It is expected to close in the first quarter of 2022 and is subject to customary closing conditions, including satisfaction of applicable regulatory requirements. Morgan Stanley & Co. LLC acted as financial advisor to Ares and Kirkland & Ellis LLP and DLA Piper served as legal counsel. Broadhaven Capital Partners acted as financial advisor to PrivateMarketsCo and Nixon Peabody served as legal counsel.

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ENERGY

Axio Offers Free Coverage Analysis for SolarWinds Impacts

Axio | December 30, 2020

Axio, a main digital danger the board Software-as-a-Service organization, today dispatched a restricted time offering, through January 31, 2021, to play out a fast examination of protection inclusion in the wake of the SolarWinds occasion. "After the 2017 NotPetya assault, certain back up plans refered to the 'demonstration of war' rejection to deny claims from that occasion on the grounds that the assault began from country state entertainers. SolarWinds could get into that sticky situation again so any conceivably affected organization ought to comprehend the potential entanglements in their protection inclusions," said Scott Kannry, CEO of Axio. "To help pick up speedy understanding into potential issue spots, we're glad to make the Axio360 strategy examination motor accessible for the following month to any organization that is intrigued." Axio's AI motor distinguishes rejections and statements that could introduce inclusion issues for SolarWinds-related misfortunes, for example, demonstration of war prohibitions, directed assault avoidances, and even new prohibitions being presented that explicitly reference the SolarWinds occasion. Organizations wishing to exploit Axio's offer ought to give an approach to be dissected and inside one business day get an email with hailed provisos recognized and recommendations as to subsequent stages and more profound investigation. "The SolarWinds occasion is remarkable in size with more than 300,000 organizations possibly affected. Right now is an ideal opportunity for these organizations to comprehend what could be in danger and if their protection inclusions will be there when generally required," added Kannry.

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