Global Summit Berlin – Renewable Energy Forum 2017

Join top-level renewable energy infrastructure fund managers and industry strategists to examine the energy landscape and opportunities it provides at the Renewable Energy Forum 2017. Despite uncertain market conditions and concerns over government policies, deal-making in the renewable energy area is intensifying as the sector evolves. Learn about the deals that are emerging in this maturing sector and hear from these dealmakers as they share their expertise on how they are successful.

Philipp Hirche, Director at Augusta, will attend the summit.

Clean Energy Finance Europe 2017

ACI’s Clean Energy Finance Europe 2017 conference brought together the leading executives and experts from across the financing infrastructure sector, to determine the extent of renewable energy realities, exploring the disruptive energy landscape and policy undercurrents shaping the industry.

Mortimer Menzel, a partner at Augusta, participated in the panel “Creating an Appropriate Regulatory Environment for the Changing Structure of the Market” on March 8th, 2017.

 

Riverstone: Sale of two UK onshore wind farms

Riverstone: Sale of two UK onshore wind farms

Augusta & Co is pleased to announce the sale of two onshore wind projects in Scotland by Velocita Energy Developments (“Velocita”) to NTR Wind 1 Fund (“NTR”).

The two projects are the 11.5MW operating wind farm Ardoch and Over Enoch and the 35MW Airies wind farm which is currently under construction and due to be commissioned by the end of this year. Velocita will manage the construction of the project on NTR’s behalf.

Velocita Energy Developments is a portfolio company of Riverstone Holdings LLP (“Riverstone”), an energy and power focused private investment firm with approximately US$34 billion of committed capital.

Augusta & Co acted as exclusive financial adviser to Riverstone in the transaction.

Robin Duggan, Managing Director of Riverstone, commented “We mandated Augusta to help us identify buyers and to transact in the challenging environment of the post-ROC UK market. We are very pleased with this transaction which fully proves the value of the Velocita team and its ability to get assets into the ground ahead of the moving ROC deadline. Augusta’s experience in equity transactions allowed us to find the right investors and deliver a completed deal on attractive terms”.

Mortimer Menzel, the partner at Augusta who led the transaction said: “This is the first of several transactions which we are proud to be doing for Riverstone. It was facilitated greatly by the extremely experienced Velocita and Riverstone teams and the pricing and terms clearly reflect that. In NTR we were able to find a buyer able to move quickly through complex issues.”

Riverstone: Sale of wind development pipeline in France

Riverstone: Sale of wind development pipeline in France

Augusta & Co is pleased to announce the sale of the French portion of Velocita’s onshore wind development business together with an approx. 500MW onshore wind pipeline in France to Envision Energy (“Envision”), a leading global smart energy solutions provider.

Velocita Energy Developments is an onshore wind energy company formed in 2011 by Riverstone Holding LLC (“Riverstone”), an energy and power focused private investment firm with approximately US$34 billion of committed capital.

Envision is the second largest wind turbine manufacturer in China and amongst the ten largest turbine companies in the world. The company is also one of the world’s largest smart energy management companies with over 50GW of assets worldwide.

Robin Duggan, Managing Director of Riverstone, commented “We are very pleased with this transaction which fully recognises the value that the Velocita team has created over the last five years through its ability to develop an attractive long-term portfolio, construct efficiently and maximise the performance of operational assets. Augusta’s international reach and wind asset experience proved pivotal in identifying the right investor and securing a successful closing”.

Mortimer Menzel, who led the transaction at Augusta said: “This is the second in an anticipated series of transactions for Riverstone that we have closed. It is a complex and innovative transaction as it represents a first major expansion into European wind development for Envision, a leading smart energy business with an established presence in China, North and South America. It shows that good development platforms can attract global and not just local capital”.

Augusta & Co acted as exclusive financial adviser to Riverstone in the transaction.

Financing, sale and offtake for a 160MW onshore wind project in Norway

Onshore wind transaction in Norway: financing, sale and offtake

Augusta & Co is pleased to announce the financing and sale of the Tellenes 160MW ready-to-build onshore wind farm south of Stavanger in Norway. BlackRock Real Assets is acquiring a 100% interest in Tellenes from Zehpyr AS and Norsk Vind Energi AS. The entire electricity output of the project will be acquired by Google for a period of 12 years. The PPA is Google’s first in Norway and will provide additional renewable energy to the company’s data centres in Europe.

Zephyr and Norsk Vind will now commence construction of the fully permitted project. The 50 turbine wind farm is expected to be operational in late 2017 and will be one of the largest in Norway.

Justin Fitzhugh, Augusta’s Managing Director who led the transaction on behalf of Zephyr and Norsk Vind commented “This is a landmark transaction in the challenging conditions of Norway’s wind market, and a testament to the careful progress made by our clients, two of Norway’s leading wind developers, in bringing the project to construction. BlackRock is one of the world’s leading investors in renewable energy, and has invested equity capital in over 75 projects in recent years. Google is an acknowledged leader in the provision of PPAs to expand the use of renewable energy globally, and this will be its 17th agreement to power its international data centres.”

Augusta acted as exclusive financial advisor to Zephyr and Norsk Vind, including the identification and negotiation of equity, project finance debt, PPA and other key contracts.

About Norsk Vind Energi
Established in 1996, NVE is one of the leading independent onshore wind developers in Norway, with 112MW under construction and 500MW in development.
About Zephyr
Established in 2006, Zephyr is owned by three Norwegian utilities. With 135MW of installed capacity and 450MW under development, the company is one of Norway’s leading developers.
About BlackRock
BlackRock is a global leader in investment management with AUM of US$4.7 trillion. BlackRock Real Assets invests equity and debt in real estate and infrastructure and has US$30 billion AUM.
About Google
Founded in 1998, Google is today one of the world’s leading search engine and data management providers with a market capitalisation of US$463 billion.