The Week in Deals
8 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Jun 1 | Utility PPA | Solar | Silicon Ranch | TVA | 35 MW | TN | Closed | Green Invest PPA pricing confidential. Excluded from sub-region median computation but added for completeness. Sub-region: TVA. | |
| Jun 1 | Utility PPA | Solar | Silicon Ranch (8 MW expansion) | Volkswagen Group of America Chattanooga Operations | 8 MW | TN | Closed | Long-running TVA Green Invest partnership. PPA price confidential per TVA standard practice. Sub-region: TVA. | |
| Jun 1 | Utility PPA | Wind | AES Corporation | Arizona Public Service | 238.2 MW | AZ | Closed | Arizona Public Service purchases the output of the Chevelon Butte wind farm under a 20-year power purchase agreement; AES developed, owns and operates the project. | |
| Jun 1 | Utility PPA | Wind | AES | Arizona Public Service | 216 MW | AZ | Closed | Arizona Public Service purchases power from the AES-developed Chevelon Butte wind farm under a 20-year power purchase agreement; Phase 2 added 216 MW. | |
| Jun 1 | Revenue bond | Solar | Savion | Ohio Air Quality Development Authority | $275M | OH | Closed | The Ohio Air Quality Development Authority issued $275 million in air quality revenue bonds to finance the Madison Fields Solar Project. | |
| Jun 1 | Construction loan and tax equity | Wind | Cordelio Power | JPMorgan Chase | $458M | IL | Closed | Cordelio Power closed a $301M construction loan (MUFG, National Bank of Canada, Bank of Montreal, Export Development Canada) and a $157M tax equity commitment from JPMorgan Chase for the Moraine Sands Wind Project. | |
| Jun 1 | Corporate PPA | Wind | Cordelio Power | Microsoft | 171 MW | IL | Closed | The 171 MW Moraine Sands Wind Project sells 100% of its power under a long-term agreement with Microsoft Corporation. | |
| May 30 | Project finance | Solar | Heelstone Renewable Energy | — | $357M | GA | Closed | Heelstone Renewable Energy closed $357 million in project financing for five utility-scale solar projects totaling approximately 345 MWdc, including Hobnail Solar in Burke County, Georgia. |
Change of Control
4 movesMartin Neubert joined as Partner and Chief Operating Officer at Copenhagen Infrastructure Partners (from Chief Commercial Officer and Deputy Group CEO, Ørsted)
Joined CIP as Group CIO from Ørsted, later transitioned to COO. CIP closed CI V fund at ~$27B in Mar 2025 — largest infrastructure fund of its kind. Active in US BESS and offshore wind.
Avik Dey joined as President and Chief Executive Officer at Capital Power (from Managing Director and Head of Energy & Resources, Canada Pension Plan Investment Board)
Appointed CEO, succeeding retiring inaugural CEO Brian Vaasjo. Under his leadership Capital Power acquired $3.3B+ in gas assets in PJM/CAISO and expanded solar development.
Sam Kamyans joined as Partner, Tax at Kirkland & Ellis (from Partner, Allen & Overy)
Joined Kirkland & Ellis from Allen & Overy for IRA tax credit transaction expertise. Reflects 2023 explosion of tax credit transfer structuring work post-IRA.
Jeff Grybowski joined as Chief Executive Officer at US Wind (from Chief Executive Officer, Deepwater Wind)
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