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  1. Carnegie signs $3.69 million debt financing agreement for microgrid project that includes wave energy

    Carnegie Wave Energy has signed an A$3.69 million debt financing agreement to support its Garden Island Microgrid Project, which will involve integrating a 2-MW solar PV array and a 2-MW battery energy storage system with the company’s CETO wave energy technology. This agreement follows a recent announcement of A$2.5 million (US$1.9 million) in funding received from the Australian Renewable Energy Agency for this project. The project also will include augmentation of the grid connection and is supported by electricity network operator Western Power, according to a press release. “Not only will the Garden Island Microgrid Project be the first time anywhere in the world that wave energy will be combined with solar and batteries in a microgrid configuration, but it will also be the first time such a project has received debt finance,” said Carnegie Chief Financial Officer Aidan Flynn. “The unique combination of renewable technologies and battery storage in a microgrid demonstrates the model we will roll out to island nations around the world.” Construction on the project is expected to begin before the end of 2016, and it should be commissioned in the first half of 2017. It is designed to operate in “on-grid” mode in parallel with the Western Australian electricity network. Specific details of the new agreement are, according to a Carnegie press release: To enable the signing of the new Debt Finance Agreement, Carnegie’s existing $21 million undrawn senior secured debt facility with the Commonwealth Bank of Australia (CBA) has been placed on standby and Carnegie’s existing convertible note facility has been cancelled and replaced. The cancelled convertible notes, worth $3.69 million, were subordinated secured debt with 0% coupon which could be converted to ordinary shares in Carnegie at a conversion price of $0.042 per share. The new $3.69 million convertible note, is senior secured debt and will be used to finance the construction and commissioning of the $7.5 million Garden Island Microgrid Project. The new convertible notes have an 8% p.a. coupon and can be converted to ordinary shares in Carnegie at any time by the noteholders at a conversion price of $0.038 per share. The convertible notes will mature on 17 November 2017 with an option for the noteholders to extend by 12 months on the same terms. Carnegie’s CETO system operates under water and converts ocean wave energy into electricity and desalinated water.

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    Fri, 21 Oct 2016

  2. Deepwater Wind pitches 120 MW Maryland offshore wind project

    Developer says its experience with Block Island project a big help

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    Tue, 10 Jan 2017

  3. Freeport LNG arranges debt financing of first NG liquefaction train

    Freeport LNG Expansion LP reports that its subsidiary, FLNG Liquefaction LLC, has entered into definitive agreements for the debt financing of $3.85 billion of capital required for the development of Freeport LNG's first train facility (Train One) at its proposed natural gas liquefaction and LNG ...

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    Thu, 30 Oct 2014

  4. Keyera to enter long-term private placement debt financing

    Keyera Corp. will enter into a private placement of 10-year and 12-year senior unsecured notes totaling CAD$300 million with a group of institutional investors in Canada and the United States.

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    Fri, 22 Jul 2016

  1. NextEra makes deals for control of transmission firm Oncor

    Online Articles

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    Tue, 1 Nov 2016

  2. EBRD approves US$5.548 million to develop 17.2-MW Lukhuni 2 hydro in Georgia

    The European Bank for Reconstruction and Development has approved US$5.548 million in debt financing for the development, construction and operation of the 17.2-MW Luhkuni 2 small hydro plant in Georgia.

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    Fri, 9 Dec 2016

  3. NYCEEC brings the battery to Brooklyn, financing energy storage for a low-income housing microgrid

    A lithium-ion battery system used will be the first battery storage microgrid installation at a low-income property in greater New York.

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    Wed, 7 Dec 2016

  4. Hunton & Williams represents groups on financial facilities for LNG project

    Hunton & Williams LLP has successfully represented Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI), and a group of commercial banks on a $4.369 billion senior secured project debt finance , letter of credit, and working capital facilities to finance the ...

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    Mon, 1 Dec 2014

  5. Cheniere secures debt financing for Train 5 at Sabine Pass liquefaction project

    Cheniere Energy Partners LP’s Sabine Pass Liquefaction LLC has engaged 18 financial institutions to act as joint lead arrangers to assist in the structuring and arranging of up to approximately $5.8 billion of debt facilities, including approximately $4.6 billion of credit facilities and an ...

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    Tue, 30 Jun 2015

  6. Recurrent Energy secures debt financing for 200 MW solar power project

    The project, developed by Recurrent Energy, is currently under construction

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    Thu, 10 Sep 2015

  7. Open Energy finances rooftop solar power loans for JJR Power and Vis Solis

    Open Energy has announced the closing of two solar power loans totaling $500,000 with JJR and Vis Solis. 

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    Thu, 30 Jul 2015

  8. Fortuna FLNG decision expected by mid-2017

    Ophir Holdings & Ventures and OneLNGSM will form a joint operating company to develop the Fortuna gas project in block R offshore Equatorial Guinea using Golar’s FLNG technology.

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    Thu, 10 Nov 2016

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