Five U.S. solar projects auctioned off at cocktail event on NYSE trading floor

Two wind energy and five solar power projects, with a total capacity of over 1 GW, have been auctioned off to investors at a unique event on the trading floor of the New York Stock Exchange. The Project Sales & Cocktails event, co-hosted by FTI Consulting’s investment banking subsidiary FTI Capital Advisors, Akin Gump Strauss Hauer & Feld LLP, DNV GL and Novogradac on Monday evening, brought together 150 senior leaders from the renewable energy industry, including major independent power producers (IPPs) and developers, project owners, sponsors, fund investors and lenders in the U.S. clean energy sector. In an innovative auction format, project developers and owners of mid- and late-stage development assets offered up their wind and solar projects to indications of interest from the financial community and renewable energy investors more broadly. Winning bidders secured an exclusivity period in which to narrow purchase and process terms. No financial commitments were made on the evening, but a number of agreements of high strategic value were confirmed.