QUICK NEWS, July 3: BIG $$$ PARTNERS FOR BIG ILLINOIS WIND; ARKANSAS WANTS NEW ENERGY; MASSACHUSETTS BACKS SOLAR HOT WATER

BIG $$$ PARTNERS FOR BIG ILLINOIS WIND Santander and Prudential Capital Group Jointly Structure Financing for Illinois Wind Farm Project

27 June 2012 (BusinessWire via MarketWatch)

“Santander, through its U.S. subsidiary Sovereign Bank, N.A., together with Prudential Capital Group, an investment business of Prudential Financial, Inc…have jointly structured and closed a $444 million financing to support Invenergy in the construction of California Ridge, a wind power generating project in Vermilion and Champaign counties, Ill.

“This financing is the second of its kind using an innovative hybrid structure developed in partnership with Prudential Capital Group and the Santander Group. It was first implemented earlier this year in the financing for Arlington Valley Solar Energy II, a 127-megawatt solar plant in Maricopa County, Arizona.”

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“The California Ridge financing consists of bank facilities in the amount of $270 million, syndicated among five banks, and a longer term $174 million senior note tranche provided by Prudential Capital Group and another institutional investor. Santander acted as Left Lead Coordinating Bank and Prudential Capital Group acted as Structuring and Documentation Advisor…

“Invenergy will use the capital to construct and operate California Ridge, a 200-megawatt wind power generation facility located northwest of Danville, Illinois. The company will sell all generated power to the Tennessee Valley Authority as part of a long-term power purchase agreement. Once completed, the project is expected to generate enough energy to power 65,000 homes…”

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ARKANSAS WANTS NEW ENERGY Arkansas Group Calls For CES In Long-Term Energy Plan Recommendations

29 June 2012 (North American Windpower)

“The Arkansas Advanced Energy Association (AAEA) has unveiled its policy recommendations for the state's long-term energy plan - which include calling for a state clean energy standard (CES)…[T]o grow its economy…the state needs to expand its energy workforce and manufacturing base through the increased development, manufacture, and utilization of advanced energy technologies…

“…[T]arget allocations for in-state electrical generation by solar, wind and biomass and expanded capacity goals for hydropower facilities would encourage deployment of clean energy technology that diversifies the state's energy supply, improves energy security and creates jobs...”

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“…[T]he group says incentives should be considered for…Manufacture of solar photovoltaic components…[and the manufacture] of transmission cable for carrying renewable electricity similar to those for wind component manufacturing in Arkansas…Manufacture of components utilized to store electricity produced by wind and solar…Installation of renewable energy components on commercial, industrial and residential properties…Storage facilities for electricity produced by wind and solar…

“…[The group recommended] all renewable electricity that is [that is supported should be] built of equipment substantially manufactured, fabricated or assembled in Arkansas….[T]he group [also] advocates the growing use of alternative fuels, energy efficiency and research and development.”

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MASSACHUSETTS BACKS SOLAR HOT WATER Massachusetts To Make Funding Available For Solar Thermal Systems

29 June 2012 (Solar Industry)

“The Massachusetts Clean Energy Center (MassCEC) has launched Commonwealth Solar Hot Water, a long-term program designed to encourage the installation of both commercial and residential solar hot water systems.

“The MassCEC will accept applications for the $10 million, multiyear program this July through 2016.”

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“The program is modeled after two pilot solar hot water programs that have awarded rebates for 300 residential and commercial solar systems since February 2011…[T]he new program will [similarly] offer rebates for qualifying solar hot water projects at residential, multifamily and commercial buildings.

“Program funding will be distributed over 4.5 years, through the end of 2016. The first year of the program will be funded with $1.5 million from MassCEC’s Renewable Energy Trust Fund…”

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