Spanish developer Abengoa Solar and NextEra Energy Resources have received conditional commitments on a combined $2 billion in Department of Energy loan guarantees supporting the construction of two concentrating solar power (CSP) projects in California
NextEra Energy Resources has sold an undisclosed stake, as part of a tax equity investment, in a 150-megawatts wind project to Bank of America.
Located in Illinois, in the Bloomington-Normal area, NextEra’s White Oak wind project is backed by a 20-year power purchase agreement with the Tennessee Valley Authority. NextEra acquired the project from from Invenergy earlier this year.
The tax equity transaction is made up of two fundings totaling $177 million. The facility is expected to qualify for a 1603 cash grant that could cover up to 30 percent of the project’s costs.
“This is NextEra’s… first tax-equity transaction with the cash grant as a component,” said company CFO Armando Pimentel, in a prepared statement.
NextEra Energy Resources has acquired a 150 megawatts wind project from Chicago-based developer Invenergy. Continue reading NextEra Buys 150 MW Ill Wind Farm From Invenergy
Former assistant energy secretary, NRDC attorney and all-around green energy superman Dan Reicher has left his post as Google’s director of climate change and green energy initiatives to join Stanford’s new energy policy and finance center.
Reicher’s departure has been framed in the context of Google’s widely reported struggles to hold onto top employees as the company expands and loses its startup feel but his leavetaking doesn’t fit this mold. He’s always been more of a policy guy he was part of Obama’s transition team and was rumored to be on the short list for energy secretary who seemed more interested in broader energy issues than even Google could accommodate.
That said, Reicher’s accomplished a lot at Google in the past year. Continue reading Dan Reicher quits Google for Stanford policy shop. Is Washington next?
Well-known cleantech investor Google is looking further afield – all the way to Europe – for green energy opportunities, according to its head of green business, Ben Kott.
Kott told Reuters at a briefing in London that Google was looking at power generation projects in Europe. Google.org, the company’s philanthropic arm, has been branching out from investments near its California base to a $39 million bet on a North Dakota wind farm and now, possibly, to Europe.
Is there a strategy here? Continue reading Should Google Build a Better Windmill or Build More of Them?
FPL Group’s clean energy unit NextEra Energy Resources has completed its $352 million acquisition of three operating wind farms located in Texas, Wisconsin and South Dakota from Babcock & Brown. The wind farm generate a combined 184.5 megawatts of electricity, 80 percent of the output is backed by long-term power purchase agreement.
Continue reading FPL Renewable Energy Sub. Acquires Three Wind Farms from Babcock & Brown