![Competitive Power Ventures Raises $370 Million For Renewables Pipeline](/sites/default/files/styles/hart_news_article_image_640/public/image/2023/08/competitive-power-ventures-raises-370-million-renewables-pipeline.jpg?itok=2SMQxZKC)
The funding will support ongoing construction and early operations of the company’s utility-scale solar projects in Georgia, Maryland and Pennsylvania that together have a combined capacity of 400 MWdc. (Source: Shutterstock)
Competitive Power Ventures (CPV) closed $370 million in revolving credit facilities in support of the company’s renewables development pipeline, CPV announced in an Aug. 24 press release.
The funding will support ongoing construction and early operations of the company’s utility-scale solar projects in Georgia, Maryland and Pennsylvania that together have a combined capacity of 400 MWdc. The Massachusetts-based company already has five wind farms in operation.
Lead arrangers for the funding were Deutsche Bank and Nomura Securities. Bank Leumi and BNP Paribas also provided commitments.
“This arrangement improves the efficiency of our financing efforts and enhances our capital sourcing in support of our next wave of renewable and low carbon projects that will help drive us towards our decarbonization goals,” said CPV’s CFO Paul Buckovich in the release.
Recommended Reading
Tourmaline’s $950MM Crew Energy M&A Drills Deeper In Montney
2024-08-12 - Tourmaline Oil is adding high-quality drilling locations in Canada’s Montney Shale with the CA$1.3 billion (US$950 million) acquisition of Crew Energy Inc.
Beyond Permian? Breaking Down E&Ps’ Second Half M&A Prospects
2024-07-22 - From Permian Resources and Diamondback Energy to Matador Resources and Civitas Resources, analysts weigh in on upstream companies’ M&A mindset as second-quarter earnings season gets underway.
With ‘Pipeline of M&A,’ Crescent Ready for Another Deal
2024-08-08 - Fresh off closing its $2.1 billion SilverBow Resources acquisition, Crescent CEO David Rockecharlie told investors, “we are just getting started.”
APA Executive: After Recent Divestitures, ‘More to Come’
2024-08-19 - At the EnerCom Denver conference, an APA Corp. executive didn’t address reports that APA was shopping up to $1 billion in Permian Basin assets, but he said the company is looking to shed $2 billion in term loans associated with its purchase of Callon Petroleum.
Mike Wirth: The ‘Remarkable’ Rise Of Chevron’s Permian Portfolio
2024-08-20 - Chevron aims to grow Permian volumes past 1 MMboe/d in 2025—less than a decade after it averaged less than 100,000 boe/d from legacy holdings in West Texas and New Mexico, Chevron CEO Mike Wirth said.