6 April 2021 | 07:39am
StockMarketWire.com - SDCL Energy Efficiency Income Trust said it had agreed to acquire commercial district energy system RED-Rochester from a fund managed by an affiliate of Stonepeak Infrastructure Partners for about $177 million.
The asset was one of North America s largest district energy systems with 117 megawatts of steam turbine generators plus boilers, chillers and other equipment.
It provided exclusive utility services to commercial and industrial customers within the 1,200 acre Eastman Business Park, located in Rochester, New York.
SDCL Energy Efficiency said the acquisition would be funded from existing cash reserves and revolving credit facilities.
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6 April 2021 | 12:06pm
StockMarketWire.com - The FTSE 100 held on to its early gains to trade up 1.2% to 6,820.37 by midday on Tuesday. Hopes for a recovery from Covid, boosted by strong economic data from the US and China over the Easter weekend, helped lift travel and resources stocks.
Oil major BP gained 3.3% to 299.4p after it said it was on track to reach its $35 billion net debt target in the first quarter of its financial year.
Disposal proceeds in 2021 were forecast to be at the top end of BP s previously announced $4‑to-$6 billion range, the company said.
Home repairs and improvements business HomeServe fell 1.5% to £11.94 on guiding for annual adjusted pre-tax profit to rise to around £191 million in line with consensus expectations.
Stonepeak Infrastructure Partners
Stonepeak Infrastructure Partners and Ironclad Energy Partners Announce Sale of Rochester District Energy Assets to SDCL Energy Efficiency Income Trust for $260mm Enterprise Value
Tuesday, April 6, 2021 12:53PM IST (7:23AM GMT)
New York, United States:
Ironclad Energy Partners LLC (“Ironclad”), an affiliate of Stonepeak Infrastructure Partners (“Stonepeak”), has agreed to sell 100% of its indirect equity interests in RED-Rochester, LLC (“RED”) and associated affiliates to SDCL Energy Efficiency Income Trust plc (“SEEIT”) for $260 million enterprise value, subject to customary closing adjustments.
As one of the United States’ largest district energy systems, RED exclusively serves 100+ commercial and industrial customers within the Eastman Business Park (“EBP” or the “Park”) in Rochester, New York. RED’s asset base has continuously served the 1,
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US ROUND-UP: EDF signs second PPA for Texas project, Exelon separates utility & competitive energy business
Exelon separates utility & competitive energy business
24 February, 2021: Chicago-based energy company Exelon’s board of directors have agreed to separate its power generation business from its utility interests, creating two publicly-listed companies.
The split, which will be structured as a tax-free spinoff, will provide each new company with the financial independence to focus on their “specific customer needs”, Exelon said in a statement last week.
As part of the deal Exelon Utilities, known as RemainCo, will become the parent company for its six electricity and natural gas utilities Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco. Exelon Generation, meanwhile, will launch SpinCo, a business that Exelon claims is the largest supplier of clean energy across the US. SpinCo has a 31GW capacity portfolio of nuclear, wind, solar, natural gas and