Project Finance

  • April 4, 2012

    Palm Springs Says Wind Farm Approval Process Was Proper

    The desert town of Palm Springs, Calif., on Monday tried to deal a final blow to a Wind Energy Partnership Ltd. lawsuit challenging approval of a rival company’s wind farm, asking a judge to find there’s no evidence Wind Energy's due process rights were violated.

  • April 4, 2012

    Germany OKs $4B Offshore Wind Farm Amid Grid Delay Fears

    German utility RWE AG received a construction permit Wednesday for what will become one of Europe's biggest offshore wind farms, but said uncertainty over the speed of grid construction could delay a financial close and push the €3 billion ($3.9 billion) project's start date into 2014.

  • April 3, 2012

    FERC OKs Kinder Morgan’s Rate Hike Deal With Airlines

    The Federal Energy Regulatory Commission on Tuesday approved a settlement between pipeline giant Kinder Morgan and a group of airlines over rate hikes for use of the CalNev pipeline, which runs from Colton, Calif., to Las Vegas.

  • April 3, 2012

    Top Republican Subpoenas Interior For Drilling Ban Info

    The Republican leader of the House Natural Resources Committee subpoenaed the U.S. Department of the Interior Tuesday on claims that it altered a report to suggest that a group of prominent engineers supported the Obama administration’s drilling moratorium in the Gulf of Mexico.

  • April 3, 2012

    EPA Carbon Rule Would Curb Coal, Boost Gas Power Plants

    The U.S. Environmental Protection Agency’s proposal to limit greenhouse gas emissions from new power plants would hold coal-fired facilities to a standard based on pollution from natural gas plants — a policy shift that could effectively halt construction of new coal units, experts say.

  • April 3, 2012

    UK Pledges $1.6B To Spark Carbon Capture Plan

    Britain on Tuesday pledged £1 billion ($1.6 billion) in new funding for its carbon capture and storage initiative and widened the list of eligible projects in an effort to reinvigorate the program, which so far has failed to spark widespread enthusiasm from power producers.

  • April 3, 2012

    NYC Wins Big As Cuomo Divvies Up $1.2B Project Loot

    New York City cashed in Tuesday as Gov. Andrew Cuomo carved up a $1.2 billion infrastructure project pie in the state's new budget, serving up $489 million for the Big Apple and more than $200 million each for the Albany and Hudson Valley regions' roads and bridges. 

  • April 3, 2012

    Macquarie Plans $2B North American Infrastructure Fund

    Macquarie Group LLC, the world's biggest manager of infrastructure investments, will raise a $2 billion fund focused on U.S. and Canadian infrastructure projects, a person familiar with the matter confirmed Tuesday.

  • April 3, 2012

    Riverkeeper Flays Enviro Plan For $5B Tappan Zee Rebuild

    Riverkeeper Inc. on Monday tore into a $5.2 billion plan to rebuild New York's Tappan Zee Bridge, saying a draft environmental impact statement ignores the state's legal obligations and suffers from massive shortcomings that render the project "ridiculous" from a green perspective.

  • April 3, 2012

    Aquila Sells Coal Stakes To Fund $3B Iron Ore Project

    Australian mining co. Aquila Resources Ltd. will sell large stakes in two of its coal projects to units of trading giant Sumitomo Corp. in order to raise capital for Aquila's share of a AU$5.8 billion (US$6 billion) iron ore mine in Western Australia, according to deals announced Tuesday.

  • April 3, 2012

    DOI Unveils Plans For Faster Oil, Gas Permitting

    The U.S. Department of the Interior unveiled plans Tuesday to speed up permitting of onshore oil and gas drilling on federal lands, nodding to industry criticisms that the process can be slow and cumbersome.

  • April 3, 2012

    Highway Agency OKs New Ramps For $3B Queens Project

    The Federal Highway Administration has approved two new ramps for the Van Wyck Expressway in Queens, New York, near a 62-acre former ash dump, removing a major hurdle to the city's $3 billion Willets Point redevelopment plan, a NYC Economic Development Corp. representative said Tuesday.

  • April 3, 2012

    Altona Enlists Chinese Firm For Clean Coal Ventures

    London-based Altona Energy PLC, which has bet big on the future of "clean coal," announced Tuesday it's teaming up with Beijing construction firm Maison Global as part of its efforts to gain a foothold in China.

  • April 3, 2012

    Origin Takes Majority Stake In Xstrata's Chile Hydro Co.

    Xstrata PLC on Tuesday sold a controlling 51 percent stake in its Chilean hydroelectric development company to Australian energy heavyweight Origin Energy Ltd. for an undisclosed amount.

  • April 3, 2012

    Cairn Adds North Sea Oil Wells With $450M Agora Buy

    U.K. oil company Cairn Energy PLC will pay $450 million for Norway's Agora Oil & Gas AS to add more North Sea wells already close to production and shift away from Greenland, where a two-year search for oil has come up dry, Cairn said Tuesday.

  • April 2, 2012

    Calif. Unifies Track To Cut $30B From High-Speed Train Plan

    The California High-Speed Rail Authority on Monday released a revised $68.4 billion plan to bring 220-mph train service to the state, cutting $30 billion from a previous estimate by proposing to integrate new construction with existing infrastructure instead of building all new track.

  • April 2, 2012

    EPA Delays Fracking Air Pollution Rule For 3rd Time

    The U.S. Environmental Protection Agency on Monday again pushed back its deadline for finalizing the first federal air pollution standards for wells that are hydraulically fractured, giving itself until mid-April to offer up the regulations.

  • April 2, 2012

    Solar Millennium Units Seek Ch. 11 Amid Project Funding Woes

    The U.S. subsidiaries of insolvent German solar developer Solar Millennium AG filed for Chapter 11 protection Monday in Delaware, after funding from the parent company for a multibillion-dollar solar power plant in California — one of the largest in the world — dried up.

  • April 2, 2012

    Nstar May Pay $940M Extra For Cape Wind Power

    Nstar Electric Co.’s proposed purchase of power from Massachusetts-based Cape Wind Associates LLC’s controversial offshore wind farm will cost at least $940 million more than the cost of conventional electricity throughout the 15-year contract, according to the company’s proposal filed Friday.

  • April 2, 2012

    Texas Court Kills Antitrust Case Against Exxon Affiliate

    Landowners in the Barnett Shale region of Texas lack standing to sue Exxon Mobil Corp. subsidiary XTO Energy Inc. for reducing competition by walking away from lease terms proposed before the natural gas market tanked, a Texas appeals court ruled Thursday.