The Week in Deals
2 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Jan 24 | Corporate PPA | Offshore Wind | Invenergy / energyRE (Leading Light Wind JV) | New Jersey BPU ratepayers (Third Solicitation OREC) | 2,400 MW | NJ | Closed | First-year OREC price; escalator 3.0%/yr. Year-1 OREC value $131/MWh as later annualized. Disclosed in NJ BPU board order. Includes inflation-adjustment provision; one of the highest-disclosed PJM-area renewable prices in 2024. COD: 2032-01-01. Contract term: 20 years. Price confidence: high. | |
| Jan 24 | Corporate PPA | Offshore Wind | TotalEnergies + Corio Generation JV (Attentive Energy) | New Jersey BPU ratepayers (Third Solicitation OREC) | 1,342 MW | NJ | Closed | Year-1 OREC price (per Board order language: 6,604 GWh/yr at $131.00/MWh, 3.0%/yr escalation for 20 years beginning 2032). Weighted average all-in development cost across both NJ Round 3 awards is $150.15/MWh. COD: 2032-01-01. Contract term: 20 years. Price confidence: high. |
Change of Control
2 movesSteve Berberich joined as President and Chief Executive Officer at Onward Energy (from President and CEO, Jamaica Public Service Company)
Former CAISO President and CEO (2011-2020) takes the helm of the 6.2 GW IPP backed by ArcLight Capital Partners. Succeeded retiring founder Steve Doyon.
Jan 29
Steve Doyon departed Onward Energy as President and Chief Executive Officer
Doyon founded Novatus Energy and led the merger with Southwest Generation to create Onward Energy, retiring after the 6.2 GW IPP was on firm footing.
Jan 29
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