BP nabs $4.1bn biz in zero-emissions push: Midweek US and LatAm Power Finance News
Power Finance & Risk
Exclusive news and in-depth insight on power project finance and M&A in the Americas.
BP set to buy RNG company for $4.1bn
Energy giant BP is set to acquire Archaea Energy, a US-based platform that develops, constructs, and operates RNG facilities. BP has agreed to pay approximately $26 per Archaea Class A and Class B share in cash — or a total enterprise value of approximately $4.1 billion, including approximately $800 million of net debt.
RFP out for Rhode Island offshore wind
Rhode Island Energy has issued the RFP to solicit an additional 600-1,000MW of offshore wind to boost the state’s energy needs. Extra capacity is expected to help meet 70% of the state’s estimated electricity for 2030 and adds to an existing offshore wind farm that sits in waters off Block Island and the proposed Revolution Wind project.
Brookfield invests in LatAm renewable biz
Brookfield Renewable has agreed to partner with InterEnergy Group to develop renewable energy across Latin America. The renewables platform of Brookfield Asset Management, together with infrastructure investment firm Stonepeak, will invest up to $1 billion in the Santo Domingo-based company over the next 4 years. InterEnergy is a power generation and distribution company and operates solar, wind and natural gas assets across Chile, the Dominican Republic, Jamaica, Panama and Uruguay.