French fossil fuel giant eyes Brazil amid green push: Midweek US and LatAm Power Finance News
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TotalEnergies forms Brazil renewables JV
France's TotalEnergies (TTE) and Brazil's Casa dos Ventos (CDV) have entered a joint venture to set up a multi-gigawatt renewable portfolio in Brazil.
Ownership of the JV will see Casa dos Ventos take a 66% stake, while TotalEnergies owns the remaining 34%.
Under the agreement, TotalEnergies will pay $550 million in cash and an additional $30 million and after 5 years the corporation will have the option to purchase an extra 15% equity stake in the partnership.
Innovative Solar puts itself on the block
US solar developer Innovative Solar Systems (ISS) has put itself up for sale for $150 million.
Richard and John Green, owners of ISS, plan to sell 100% of their equity in the company, along with all associated project companies in various key states and markets.
ISS has a 10GW active project pipeline located across several states, with a focus on Texas.
Power storage venture secures $200m
Nightpeak Energy – a new venture for the development of flexible power generation resources including battery storage facilities across the US – has received $200 million in equity funding from Energy Spectrum Capital.
The investment has been made through the Energy Spectrum Partners Fund VIII, which has total capital commitments of $1 billion.
Nightpeak will initially concentrate on developing projects in US West and Texas.