Clean Energy Pipeline’s Post

As the Investment Manager of the internationally diversified Gore Street Energy Storage Fund (LSE: GSF), we are pleased to share that the Fund has secured a Resource Adequacy contract with J. Aron & Company LLC, a subsidiary of Goldman Sachs for the Company’s California asset, Big Rock. This stackable fixed price contract, worth over $14 million annually, marks a substantial achievement for the largest asset in the Fund’s portfolio. Scheduled to commence in the summer of 2025, this contract is fully stackable, allowing for concurrent revenue streams such as wholesale trading and ancillary services. It is expected to account for up to 40% of the total expected revenue of the asset over the contract life. Due to the long-term fixed-price nature of the contract, it also supports securing project-level debt. The Resource Adequacy contract in California aims to ensure sufficient generation are available to meet the energy system’s supply requirements. The RA contract requires a minimum duration of 4 hours. Therefore, the Fund’s Big Rock asset will utilise 100 MW of RA deliverability. This long-term fixed-price stackable contract will significantly enhance the Fund’s total revenue generation whilst further diversifying revenue streams and providing further stability. It also supports the Fund’s long-term ability to continue distributing dividends to shareholders. You can find out more about the Resource Adequacy contract here: https://lnkd.in/eKTvEVnM #energytransition #batterystorage #finance #renewables #energystorage #climatechange

As the Investment Manager of the internationally diversified Gore Street Energy Storage Fund (LSE: GSF), we are pleased to share a quarterly unaudited NAV and dividend declaration for the three-month period to the end of June.   The Company is uniquely positioned across five uncorrelated markets in #GreatBritain, #Ireland, #Germany, #Texas and #California.  The Company maintains a #robust balance sheet with £66.1m in cash or cash equivalents as of 30 June 2024. As at the same date, the Company had drawn £56.4m, with additional debt headroom of £39.8m.  As disclosed in the FY23/24 annual report, the Investment Manager anticipates a $60-80 million cash inflow following the sale of Investment Tax Credits for the in-construction US assets. There are currently three assets in construction, Enderby, Big Rock and Dogfish with a combined capacity of 332 MW with energisation targeted over the next five months. Following energisation of these assets, we expect to manage a steady state portfolio able to meet its dividend targets from cash in line with investors’ expectations.  The Board has approved a dividend of 1.0 pence per Ordinary Share, in line with dividend policy.  We remain committed to our diversified approach to continue to deliver value for all stakeholders.  You can find out more about the portfolio’s performance and updates to GSF’s unaudited NAV as at 30 June 2024, here: https://lnkd.in/eM-XiZGb   #energytransition #batterystorage #finance #renewables #energystorage #climatechange

Gresham House Energy Storage suspends dividends and further buybacks for 2024. Gresham House Energy Storage (GRID) has suspended dividends and further buybacks for the remainder of 2024, as a difficult revenue environment for the UK battery storage sector forces the trust to prioritise deleveraging the portfolio. John Leggate. Check out Valeria Martinez's latest article 👇 https://incm.pub/3wa3kBE #investment #wealthmanagement #assetmanagement #finance

Blackrock buys TC energy natural gas transmission system This is an interesting development in the long story of Blackrock walking back what seemed not that long ago to be a full-on commitment to ESG and not putting more investments into oil and gas. Once Texas threatened to ban Blackrock from doing business in TX and there was a general pushback from all their shareholders Blackrock walked most of it back by saying they had no intention to divest from oil and gas and that they would continue to fund their ongoing investments in that area. And now they seem to have made the 360-degree full turn and invested heavily into natural gas transmission, an industry that just last year Blackrock was complaining wasn't doing enough to reduce methane emissions and hence should not be invested in. Go figure. Sort of fits with the old saying that investment bankers are like magpies chasing shiny objects. 😉

New Post: Kayne Anderson Energy Infrastructure Fund Provides - Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) reported its unaudited assets and liabilities as of November 30, 2024. The company had net assets of $2.5 billion and a net asset value per share of $15.03. Its asset coverage ratios were 664% for senior securities and 503% for total leverage. Investments were primarily in midstream energy companies (95%), with notable holdings including Energy Transfer LP and Enterprise Products Partners L.P. The fund aims to achieve a high after-tax total return through investments in energy infrastructure, adhering to the Investment Company Act of 1940. Read the full article here https://lnkd.in/dCy_Nz2a #Venturecapital #VC #investment #LP #Limited Partner

The energy sector, particularly midstream exposure, may be attractive for income-seeking investors. Learn how MLPD writes call options on the Global X MLP & Energy Infrastructure ETF (MLPX), seeking to enhance the income potential generally associated with midstream MLPs and energy infrastructure corporations. https://gxetfs.com/3WA2FnY

BlackRock Inc., alongside Morgan Stanley investment funds, has entered into an agreement to acquire TC Energy's Portland Natural Gas Transmission System, LP in a deal valued at approximately $1.14 billion. This strategic acquisition includes taking on $250 million in debt. As part of this transaction, TC Energy, together with its partner Énergir LP, anticipates pretax cash equity proceeds of around C$740 million ($545 million). This move aligns with BlackRock's ambition to expand its footprint in the infrastructure sector, following significant investments such as the acquisition of Global Infrastructure Partners (GIP) for about $12.5 billion and a $500 million investment in Canadian Solar Inc.'s subsidiary. For TC Energy, this sale contributes to its objective of divesting C$3 billion in assets this year to alleviate its debt burden. The Portland Natural Gas Transmission System encompasses 295 miles (475 kilometers) of natural gas pipelines across northern New England and Atlantic Canada. Barclays served as the financial advisor to TC Energy and Energir for this transaction, with Bracewell LLP providing legal counsel to TC Energy. https://lnkd.in/gsHt2geY

Alternergy Holdings Corporation (ALTER) disposes of its common shares held in Solar Pacific Pristine Power Inc. (SPPPI), in favor of Alternergy Solar Holdings Corporation (ASHCo). #renewableenergy #bonds #stockmarket #stocks #finance #Business #Corporation #Entrepreneur #Philippines #Financial #Invest #Investment #investingtips

19th June 2024: Samos Energy Infrastructure Ltd: Successful Placement of USD 75 Million Senior Secured Bond Issue Samos Energy Infrastructure Limited (“SEIL” or the “Company”) is pleased to announce that it has successfully completed its inaugural 4-year senior secured bond issue of USD 75 million with a coupon rate of 12.5% percent, issued at par. The bond issue, which attracted strong interest from international investors, was significantly oversubscribed and priced at the bottom end of the initial price indications. SEIL is a top ten player in the floating production unit space, owning two FPSOs and one MOPU on bareboat charter contracts in Thailand, Vietnam and Malaysia. The Company acquired these assets from funds managed by Blackrock and from Petrofac Limited in July 2023 with equity from Amerocap LLC and private credit. Following this bond financing, the Company will focus on harvesting its existing portfolio and follow-on investments in floating energy infrastructure. The Company is part of the Samos Energy Group, a global investment platform which acquires and provides financing to traditional energy assets with a focus on E&P and infrastructure. Since acquiring the Company less than one year ago, Samos has substantially grown its operational, technical and investment teams across the US, UK, Singapore and Malaysia. The net proceeds from the contemplated bond issue will be used to refinance the Company’s existing private credit facility. The issue of the bond is expected on 5th July 2024 (the “Issue Date”) and it will mature on 5th July 2028, 4 years after the Issue Date (the “Maturity Date ”). The bond is fully amortizing during its tenor. ABG Sundal Collier acted as Sole Manager and Sole Bookrunner.

Our $55 million investment is helping Neoen Australia deliver more critical #renewable energy assets, including the Collie Big Battery, in the traditional, coal powered heartland of Western Australia.  Working with Australian investors ANZ, Westpac and Commonwealth Bank as well as international investors, we will help deliver one of the state’s biggest #batteries, filling the gap left by the retirement of Collie’s aging coal-fired powerplants and strengthening the South West Interconnected System. #netzeroemissions https://lnkd.in/eD-3fzCX