SWFI First Read, December 27, 2016
Statoil Wins Bidding for Offshore Wind Lease in New York
Norwegian state-owned oil giant Statoil ASA has been declared the provisional winner of the U.S. government’s wind lease sale of 79,350 acres offshore New York with a bid of US$ 42,469,725. The auction was conducted by the U.S. Department of the Interior’s Bureau of Ocean Energy Management (BOEM). The lease comprises an area that could potentially accommodate more than 1 GW of offshore wind.
Allianz Global Investors Helps Finance Grande Prairie Wind Project in Nebraska
On December 21, Allianz Global Investors, a unit of the German insurer Allianz, announced that it has made an investment of over US$ 400 million on behalf of its clients into the Grande Prairie Wind project, a 400 MW wind farm in Holt County, Nebraska – the largest wind energy project in the state’s history. Construction on the project began in July 2015 and is owned by BHE Renewables, a subsidiary of Berkshire Hathaway Energy. The financing consisted of unlisted bonds with a 20-year term that were privately placed with U.S. and European investors through Allianz Global Investors’ infrastructure debt platform. The Grande Prairie Wind project has a long-term power purchase agreement (PPA) with Omaha Public Power District.
Italian “No” Referendum Final Coffin Nail that Killed Investors’ Appetite
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