The Week in Deals
13 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Oct 25 | Tax Equity & Tax Credits | Offshore Wind | Avangrid + Copenhagen Infrastructure Partners (CIP) JV | J.P. Morgan, Bank of America, Wells Fargo (tax equity) | $1.20B | MA | Closed | First commercial-scale US offshore wind tax equity financing AND largest single-asset tax equity in any sector. JPM, BofA, Wells Fargo as tax equity investors. 30% ITC structure (deferred 40% domestic content claim). Powers 400,000 MA homes; saves ratepayers $1.4B over 20 years; reduces 1.6M tons CO2/year. Kirkland & Ellis advised Vineyard Wind. First electricity delivered Jan 2024. | |
| Oct 19 | Power Purchase & Offtake | Solar | FRP Gadsden County Solar, LLC | Seminole Electric Cooperative, Inc. | 74.5 MW | FL | Operating | Utility-side renewable PPA discovered via FERC EQR (contract C1328120). Signed 2023-10-19. COD 2023-10-19. Term ends 2049-12-01. MW not disclosed in FERC contract data — research enrichment pending. BA: FPC. [Research 2026-05-11: MW recovered as 74.5 from Seminole Electric Cooperative Press Release — FRP solar contracts. FRP Gadsden County Solar — 74.5 MW solar facility in Gadsden County, FL. Part of 298 MW Seminole/Florida Renewable Partners (NextEra) portfolio with 4 sites of 74.5 MW each. COD 2024.] | |
| Oct 19 | Power Purchase & Offtake | Solar | FRP Columbia County Solar, LLC | Seminole Electric Cooperative, Inc. | 74.5 MW | FL | Operating | Utility-side renewable PPA discovered via FERC EQR (contract C1328116). Signed 2023-10-19. COD 2023-10-19. Term ends 2049-12-01. MW not disclosed in FERC contract data — research enrichment pending. BA: FPC. [Research 2026-05-11: MW recovered as 74.5 from Seminole Electric Cooperative Press Release — FRP solar contracts. FRP Columbia County Solar — 74.5 MW solar facility in Columbia County, FL. Part of FRP/Seminole Electric portfolio. COD November 2024.] | |
| Oct 19 | Power Purchase & Offtake | Solar | FRP Gilchrist County Solar, LLC | Seminole Electric Cooperative, Inc. | 74.5 MW | FL | Operating | Utility-side renewable PPA discovered via FERC EQR (contract C1328124). Signed 2023-10-19. COD 2023-10-19. Term ends 2049-12-01. MW not disclosed in FERC contract data — research enrichment pending. BA: FPC. [Research 2026-05-11: MW recovered as 74.5 from Seminole Electric Cooperative Press Release — FRP solar contracts. FRP Gilchrist County Solar — 74.5 MW solar facility in Gilchrist County, FL. Part of FRP/Seminole Electric portfolio. COD November 2024.] | |
| Oct 19 | Power Purchase & Offtake | Solar | FRP Tupelo Solar, LLC | Seminole Electric Cooperative, Inc. | 74.5 MW | FL | Operating | Utility-side renewable PPA discovered via FERC EQR (contract C1384244). Signed 2023-10-19. COD 2024-08-15. Term ends 2049-12-01. MW not disclosed in FERC contract data — research enrichment pending. BA: FPL. [Research 2026-05-11: MW recovered as 74.5 from Seminole Electric Cooperative Press Release — FRP solar contracts. FRP Tupelo Solar — 74.5 MW solar facility in Putnam County, FL (not Flagler as some sources say). Part of FRP/Seminole Electric portfolio. COD November 2024.] | |
| Oct 19 | Utility PPA | Solar | Florida Renewable Partners (NextEra) | Seminole Electric Cooperative | 74.5 MW | FL | Closed | Fourth FRP site (companion to existing Gadsden/Columbia/Gilchrist/Tupelo entries). Putnam site is publicly identified but not yet present in dataset; pricing estimate mid-cluster of disclosed sister sites ($26.94-27.47/MWh). Sub-region: FPL (FL). | |
| Oct 19 | Tax equity | BESS | Spearmint Energy | Greenprint Capital Management | $92M | TX | Closed | Spearmint Energy closed a $92 million tax equity investment for the Revolution battery energy storage project, provided by Greenprint Capital Management. | |
| Oct 17 | Construction loan and tax equity | BESS | Plus Power | Foss & Company; Deutsche Bank, First Citizens Bank, Siemens Financial Services | $488M | TX | Closed | The 300 MW / 600 MWh Rodeo Ranch Energy Storage facility near Pecos, Texas, received $212.2 million of tax equity from Foss & Company plus $276 million of construction and term financing as part of a Plus Power $1.8 billion portfolio financing. | |
| Oct 17 | Construction and term debt | BESS | Plus Power | Norddeutsche Landesbank | $505M | AZ | Closed | The Sierra Estrella Energy Storage project received a $505 million construction loan, term loan and letter of credit facility as part of Plus Power's $1.8 billion portfolio financing. | |
| Oct 17 | Tax equity | BESS | Plus Power | Bank of America | $202M | AZ | Closed | Bank of America provided $202 million of tax equity for the 250 MW/1,000 MWh Sierra Estrella Energy Storage facility, one of the largest standalone BESS tax equity deals since the IRA. | |
| Oct 17 | Tolling agreement | BESS | Plus Power | — | 250 MW | AZ | Closed | Sierra Estrella Energy Storage has a 20-year energy storage tolling agreement with Salt River Project. | |
| Oct 17 | Tolling agreement | BESS | Plus Power | Salt River Project | 90 MW | AZ | Closed | The 90 MW / 360 MWh Superstition Energy Storage project holds a 20-year energy storage tolling agreement with Salt River Project. | |
| Oct 17 | Construction and term loan | BESS | Plus Power | — | $196M | AZ | Closed | Plus Power's financing included a $196 million construction, term loan and letter of credit facility for the 90 MW / 360 MWh Superstition Energy Storage project. |
Change of Control
1 moveCharlie Hasselbrink joined as Chief Technology Officer at Caelux (from Solar/perovskite technology leadership (prior firm not disclosed), Sila Nanotechnologies)
Caelux, a Bill Gates–backed perovskite-on-glass startup spun out of Caltech, hires its first CTO as it tries to commercialize tandem solar in the US under IRA tailwinds.
Oct 18
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