The Week in Deals
4 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Sep 6 | Power Purchase & Offtake | Offshore Wind | Ocean Winds (EDP Renewables / ENGIE 50/50) | Massachusetts (1,087 MW share) + Rhode Island (200 MW share) | 1,287 MW | MA, RI | Announced | First US multi-state offshore wind solicitation. MA-RI-CT joint procurement awarded ~2.9 GW Sep 6, 2024. SouthCoast Wind largest of three projects awarded. Construction targeted late 2025. | |
| Sep 6 | Power Purchase & Offtake | Offshore Wind | Avangrid Renewables (Iberdrola Group) | Massachusetts ratepayers | 791 MW | MA | Announced | Selected Sep 6, 2024 in MA Round 4 multi-state solicitation. Powers ~400,000 MA homes/businesses. 3,600 FTE job-years; $1.4B customer savings over first 20 years (per Avangrid). Avangrid's second major MA offshore wind project after Vineyard Wind 1. | |
| Sep 6 | Power Purchase & Offtake | Offshore Wind | Avangrid + Vineyard Offshore JV | Massachusetts ratepayers (800 MW share of 1,200 MW project) | 800 MW | MA | Announced | Avangrid + Vineyard Offshore JV. Selected Sep 6, 2024 in MA Round 4. (Vineyard Offshore later withdrew from the joint development structure.) MA portion 800 MW of total project capacity. | |
| Sep 1 | Tax Equity & Tax Credits | Solar+BESS | Ørsted | J.P. Morgan | $680M | Multi-state | Closed | J.P. Morgan $680M tax equity investment in Ørsted solar + storage portfolio. |
Change of Control
2 movesJonathan Katz joined as Partner, Project Development & Finance Practice at Latham & Watkins (from Partner, King & Spalding)
Katz joined Latham's Houston office from King & Spalding, representing owners and developers in EPC contracts and O&M agreements for energy and LNG projects.
Sep 1
Drew Baldinger joined as Partner, Corporate Practice and Energy Industry Team at King & Spalding (from Partner, Skadden)
K&S recruited Baldinger from Skadden to its Houston office, representing energy companies and PE sponsors in M&A and JVs across conventional and renewable energy.
Sep 1
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