SJI inks deal with an entity managed by GSAM for Marina Energy
SJI has inked a deal with an entity managed by Goldman Sachs Asset Management (GSAM) for the sale of SJI’s fully-owned unit Marina Energy. The signed deal is USD-350-million that includes solar power portfolio.
SJI anticipates to receive a USD-63-million portion of the agreed sum in cash after payments are made. The rest will be paid over the next several months as individual projects in the portfolio satisfy closing conditions. The transaction is expected to fully close by the end of the year.
The divestment is part of SJI’s strategy to monetise non-core, non-regulated businesses and raise investments in regulated assets.
Country updates
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July 02, 2018
Vestas upgrades and repower Marengo and Marengo II wind farms
Vestas has received a contract from PacifiCorp for the upgrade and repowering of its two wind projects. The facilities involved are the: 140.4 MW Marengo wind project 70.2 MW Marengo II wi...
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July 02, 2018
567.5 MW combined capacity energy storage projects in California awaits CPUC approval
The California Public Utilities Commission (CPUC) has received applications for the planned energy storage facilities located in Califronia, USA. The projects use lithium-ion battery te...
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June 29, 2018
BLM approves Sweetwater Solar Energy Facility in Wyoming
The Bureau of Land Management (BLM), a unit of the US Department of the Interior, has granted approval to the 80 MW Sweetwater Solar Energy Facility. The solar project, which will generate ...
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June 29, 2018
GCL New Energy Holdings Ltd has completed construction work on the first phase of the solar power plant project
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June 26, 2018
Green Power EMC and Silicon Ranch to develop 200 MW solar portfolio
Green Power EMC and Silicon Ranch Corporation have announced an agreement to significantly expand their solar energy portfolio in Georgia, a state in the south-east of the USA. As part...
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