Ares closes refinancing of Panda Power’s 778 MW Stonewall combined-cycle power plant
Ares Management Corp has closed the refinancing of Panda Power’s 778 MW combined-cycle, gas-fired Stonewall project in Virginia, USA.
Panda Power has earlier lined up lenders to refinance a US$490 million loan that is aimed to be closed just before its current obligation comes due. The refinancing is part of a broader restructuring process that will hand ownership of the 778 megawatt gas-fired plant to Ares Management from private equity firm Panda Power Funds. As part of the refinancing deal, Ares is planning to provide US$50 million to US$60 million of equity.
Country updates
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December 06, 2021
Leeward secures financing for 145 MW Panorama wind project in Weld County
Leeward Renewable Energy, LLC has closed construction financing and secured tax equity commitments for its Panorama Wind Farm located in Weld County, Colorado. MUFG Bank, Ltd. served as coordinating l...
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December 03, 2021
Southern Power starts commercial operation of 118 MW Glass Sands wind project in Oklahoma
Southern Power, a subsidiary of Southern Company, has started the commercial operation of its 118 MW Glass Sand Wind Farm project located in Murray County in Oklahoma, USA. The project was init...
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December 02, 2021
BOEM approves the construction of 132 MW Deepwater ONE – South Fork offshore wind project off Rhode Island
US Department of the Interior’s Bureau of Ocean Energy Management has approved the construction of the 132 MW Deepwater ONE – South Fork offshore wind farm project off the coast of Rh...
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December 02, 2021
Johnson & Johnson signs PPA with Ørsted from Helena Energy Center in Texas
Johnson & Johnson has signed two PPAs with Ørsted to offtake power from Sparta Solar in Texas in the US and Kilgarvan Wind Farm in County Kerry and Booltiagh Wind Farm 1 in County Clare, wh...
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November 30, 2021
Innergex closes equity funding of 200 MW Hillcrest solar project in Brown County
Innergex Renewable Energy Inc. has concluded the tax equity funding of the 200 MW Amazon Solar Farm Ohio – Hillcrest, located in Brown County, Ohio. In commercial operation since May 11, 2021,...
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