DEAL TRACKER
EUROPE (Continued) Romania Deal Type: Debt Total Amount: €10m ($13.6m) Debt Provider: The European Bank for Reconstruction and Development (EBRD)
Spain Deal Type: Debt Total Amount: $1.45bn Debt Provider: US Department of Energy
Energy Efficiency
OTP Bank Romania
www.otpbank.ro
The European Bank for Reconstruction and Development (EBRD) has provided OTP Bank Romania with a loan to finance sustainable energy projects undertaken by local businesses. The EBRD financing will be complemented by grant funding from the European Union (EU) under the EBRD and European Union Energy Efficiency Financing Facility Framework, supporting a technical assistance programme and targeted incentive payments for sub-borrowers to promote sustainable energy investments.
Source: Company announcement
Solar
Abengoa Solar
www.abengoasolar.com
Spanish renewable energy developer Abengoa Solar has closed a $1.45bn federal loan guarantee to build the world’s largest parabolic trough concentrating solar plant (CSP) in Arizona, US. The financing for the Solana CSP project was provided by the US Department of Energy following a conditional commitment announced last year. The Solana project is the first large-scale solar plant in the US capable of storing the energy it generates, with six hours of molten salt thermal energy storage capacity. Source: Company announcement
Spain
deal tracker
Deal Type: Contract Total Amount: Undisclosed Buyer: UniSource Electric Developer: Western Wind Energy
Wind
Gamesa
www.gamesacorp.com
European wind turbine manufacturer Gamesa, has entered the Arizona market with an initial order for 10MW. The wind farm it will supply is being developed by Western Wind Energy for UniSource Electric, which is based in the US state. The installation is scheduled to take place in April 2011 and will comprise five Gamesa turbines. Source: Company announcement
Spain Deal Type: Contract Total Amount: Undisclosed Buyer: Kiroba Elektrik Uretim
Wind
Gamesa
www.gamesacorp.com
Gamesa, one of the world’s largest wind turbine manufacturers, has signed an agreement with Kiroba Elektrik Uretim to supply 20MW of turbine capacity for the Madranbaba wind farm in the Turkish province of Aydin. The Spanish company will deliver ten 2MW turbines, carry out turbine transport, installation and assembly, and provide operation and maintenance services for a period of 16 years. The new wind farm is scheduled to begin operating sometime between late 2011 and early 2012.
Source: Company announcement
Spain Deal Type: Partial Acquisition Total Amount: Undisclosed Acquirer: The Weir Group
Wind
Ynfiniti Engineering Services (YES)
www.yesinternational.es
Engineering solutions business The Weir Group has acquired a majority shareholding in Spanish wind power maintenance specialist Ynfiniti Engineering Services (YES). Weir has acquired 76 per cent of YES with the manangement team retaining the balance. Madrid-based YES provides operating and maintenance services to installed wind turbines. Source: Company announcement
Sweden Deal Type: Equity Investment Total Amount: $4.5m Investors: BP, VantagePoint, Sustainable Technologies Fund
Bioenergy
REAC Fuel AB
www.reacfuel.com
REAC Fuel AB, a Swedish company developing technology to make clean fuel from non-edible crops, has received a $4.5 million equity investment. The investment from BP, VantagePoint and Sustainable Technologies Fund will be used to accelerate development of REAC’s technology and construct a pilot plant that focuses on low-cost production of sugars from biomass. The funds are the second stage in a financing round that began early 2010. REAC Fuel expects to raise another, larger round of financing during 2011, which will be used to take its processing technology to commercial scale. Source: Company announcement
Switzerland Deal Type: Contract Total Amount: $32m Buyer: Renova Energia
Energy Efficiency
ABB
www.abb.com
Swiss engineering conglomerate ABB has received orders for transmission infrastructure worth $32m from Renova Energia in Brazil. The Zurich-based firm will design, engineer, supply, construct and commission five substations and associated equipment, as well as training operators and maintenance staff. ABB will also supply and install 60km of overhead transmission lines to connect a 290MW wind power plant to the electricity grid in the north-eastern state of Bahia. The project is scheduled for completion in 2012. Source: Company announcement
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February 2011