The Week in Deals
3 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Feb 12 | Project Finance | BESS | Arevon Energy | Multiple | $258M | CA | Closed | $179M debt package bridging to preferred equity + tax credit transfer takeout. Located in Barrio Logan adjacent to existing San Diego load center. Long-term contract with San Diego Community Power. | |
| Feb 1 | Power Purchase & Offtake | Solar | Invenergy | Verizon | 966 MW | AR, IL, MD, OH | Announced | Verizon has procured 1+ GW from Invenergy. Richfield Solar (50 MW, MD) operational Oct 2024. Maple Flats (326 MWdc/250 MWac) in Clay County, IL. Cadence Solar (240 MW) in OH expected 2026. Chalk Bluff (350 MW) in AR expected 2027. Supports Verizon's 100% renewable by 2030 target. | |
| Feb 1 | Tax Equity & Tax Credits | Other | First Solar | Undisclosed | $857M | AL, OH | Closed | First Solar's 2024 credit sale — $857M from production at three Ohio factories plus new Alabama facility. Pricing at $0.955/$1.00 — improved from $0.96 on 2023 credits. Cumulative 45X transfers now exceed $2B. Demonstrates market maturation and pricing tightening. |
Change of Control
3 movesCharles Melko promoted to EVP, CFO and Treasurer at HASI
Part of a four-person C-suite reshuffle at the leading climate infrastructure investor. Melko takes the CFO seat from Marc Pangburn, who moves to Chief Revenue & Strategy Officer.
Marc Pangburn joined as EVP, Chief Revenue & Strategy Officer at HASI
Pangburn transitions from CFO to lead investments, portfolio, and strategic transactions — reflecting HASI's evolution from a balance-sheet lender to a managed-assets platform with ~$14B AUM.
Steven Tredennick joined as Partner, Energy Transactions, Houston at Sidley Austin (from Partner, White & Case)
Part of Sidley's deliberate Houston energy build-out — paired with Theofanidis lateral, signaling material commitment to the Houston energy transactional bench.
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