Energy

Powering Australian Renewables Fund Lines Up Financing for Coopers Gap Wind Farm

The Powering Australian Renewables Fund (PARF) signed an agreement with GE. The agreement entails GE supplying and installing 123 wind turbines for the Coopers Gap Wind Farm project at Cooranga North, 250 kilometers north-west of Brisbane. The installation is expected to be completed by 2019 and produce enough energy to power at least 260,000 homes, […]


CPPIB Participates in Calpine Buyout

Private equity firm Energy Capital Partners has led a group of investors which include the Canada Pension Plan Investment Board (CPPIB) to acquire Calpine Corporation (Calpine), one of the largest independent power generators in the United States, for US$ 5.6 billion in cash. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please […]


NZ Super Goes Low-Carbon on Global Passive Equities Portfolio

The New Zealand Superannuation Fund (NZ Super) announced that its massive global passive equity portfolio, which makes up around 40% of the fund’s assets, is now low-carbon. According to the organization, NZ Super essentially diverted NZ$ 950 million from 297 companies with high exposure to carbon emissions and reserves. [ Content protected for Sovereign Wealth […]


Cubico Taps Mexican Development Banks for Solar and Wind Project Financing

London-based Cubico Sustainable Investments, which is jointly owned by Ontario Teachers’ Pension Plan (OTPP) and PSP Investments, raised in total US$ 450 million in project financing for a 600 renewable energy portfolio in Mexico. Broken up, the first part is a 350 MW solar power photovoltaic project located in El Llano, in the state of […]


Amid Uncertainty, Temasek Seeks to List FTS International

Singapore’s Temasek Holdings looks to list Fort Worth, Texas-based FTS International, Inc. (formerly known as Frac-Tech Holdings), one of the largest hydraulic fracturing (fracking) companies in North America. The company was founded by Dan and Farris Wilks. The company eventually sold a majority interest in 2011 to an investor group led by Maju (Maju is […]


KIA Throws in the Towel with Areva, Incurs Losses

The Kuwait Investment Authority (KIA) plans to sell its 4.82% ownership interest in Areva to the French state. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CPPIB and Allianz Invest in GNS’ Spanish Gas Distribution Business

On August 3, 2017, Allianz Capital Partners and Canada Pension Plan Investment Board (CPPIB), through its wholly owned subsidiary called CPP Investment Board Europe S.à r.l., signed an agreement with Gas Natural Fenosa (GNF) to acquire a 20% minority equity interest in its gas distribution business in Spain (Gas Natural Distribution Business or GNDB). [ […]


CIC Could Give Capital Boost to Russia’s Transneft

With U.S. President Donald J. Trump adding more sanctions onto Russia due to pressure from the U.S. Congress (from both sides of the partisan aisles), Russia is moving closer to China in both economic and political ties. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


GIC and Macquarie Make Offer for Minority Stake in EDC

Energy Development Corporation (EDC) is the biggest producer of geothermal energy in Southeast Asia. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Russia Reserve Fund to Merge into National Welfare Fund

Russian President Vladimir Putin inked into law a new fiscal rule. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, July 28, 2017

BREXIT WHAT? Walkie Talkie Building Sold to Hong Kong LKK Health Products Group Infinitus Property Investment, a subsidiary of Hong Kong-based LKK Health Products Group, has acquired the 37-storey Walkie Talkie building in London for approximately £1.3 billion. The property is located at 20 Fenchurch Street. The sellers were Canary Wharf Group and Land Securities. […]


CDPQ Helps Finance Restart of Bloom Lake Iron Ore Mine

Champion Iron Limited, a listed company, revealed on July 13, 2017, that it secured US$ 180 million in debt financing conditional commitments for its subsidiary Québec Iron Ore Inc. from Caisse de dépôt et placement du Québec (CDPQ) and Sprott Resource Lending. This financing is part of the restart of Bloom Lake Iron Ore Mine’s […]


Cypress Creek Renewables Score $450 Million Facility, Temasek Money

Santa Monica-based Cypress Creek Renewables, LLC scored a US$ 450 million credit facility from a group of institutional investor that includes Singapore’s Temasek Holdings. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Schlumberger to Acquire a Majority Interest in Eurasia Drilling Company

Schlumberger Limited has agreed to acquire a majority 51% equity interest in Eurasia Drilling Company Limited, a Russian-based onshore and offshore drilling and well services contractor. The deal is subject to approval by the Federal Antimonopoly Service of Russia (FAS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view […]


SWFI First Read, July 20, 2017

Path to an Indian National Oil Champion India-owned Oil and Natural Gas Corporation Limited (ONGC) got a green light to acquire a 51.1% stake in state-owned refiner Hindustan Petroleum Corporation from the Indian government. The ownership stake is valued at US$ 4.6 billion based on a recent market valuation of Hindustan Petroleum Corporation. Alpha Investment […]


oil

ADNOC Takes Steps for Potential Restructuring

The Abu Dhabi National Oil Company (ADNOC), a government-owned oil company, is looking to have an initial public offering (IPO) of its service stations unit. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Largest Oncor Parent Creditor Seeks to Block Warren Buffett

Paul Singer’s Elliott Management Corporation, an activist hedge fund, is looking to challenge Warren Buffett’s bid on Oncor Electric Delivery Company, LLC (Oncor), a regulated transmission and distribution business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CPPIB to Own Large Portion of Ireland’s Natural Gas Production

The Corrib Natural Gas Field in Ireland is swapping out an owner. Discovered in 1996, the Triassic gas field is located 83 kilometers off the northwest coast of Ireland. The field lies in the Slyne Trough in Blocks 18/20 and 18/25. Most of the gas is composed of methane. [ Content protected for Sovereign Wealth […]


sovereign wealth india

GIC Buys Shares of Gayatri Projects

Singapore’s GIC Private Limited acquired a 6.2% stake in Gayatri Projects Ltd., a listed infrastructure company in India, by purchasing 1.1 crore shares at around Rs 150 per share, for a total value of Rs 165 crore (US$ 25.526). Gayatri is involved in many ventures including energy generation. Gayatri has a venture with Sembcorp Utilities, […]


Egypt Plans Partial Privatization of ENPPI

Cairo-based Engineering for the Petroleum & Process Industries (ENPPI), Egypt’s state-owned oil company, plans to have an initial public offering (IPO). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]