11 November 2015
Aquila Capital buys more Norwegian hydro plants
Aquila Capital, an alternative investment specialist, has acquired Smakraft, the largest operator of small-scale hydro plants in Norway, for an undisclosed sum.
Smakraft's assets include 45 operational plants, generating more than 500GWh annually, and "a substantial development portfolio".
The acquisition is Aquila's third public hydro transaction in the past 18 months.
Smakraft is currently owned by four Norwegian utilities: Statkraft (40%), Agder Energi (20%), BKK (20%) and Skagerak Energi (20%).
Scatec Solar issues high-yield NOK500m green bond
Renewable energy developer Scatec Solar has issued a NOK500 million ($58.16 million) green bond.
The high yield senior unsecured bond was priced at Nibor +650 basis points and has a tenor of three years.
The proceeds of the bond will be used for general corporate purposes. DNV GL has provided a second opinion on the use of proceeds. The bond is expected to list on the Oslo stock exchange later this year.
Connecticut launches $65m green bond
The State of Connecticut plans to issue $65 million of green bonds to build or upgrade waste water plants.
The bond is expected to price on 17 November.
The state will report on the use of proceeds on an annual basis.
The general obligation bonds are part of a larger $650 million issue. Half of the green bonds will mature in 2019, with the remainder in 2035.
Barclays is lead underwriter. The other underwriters are Ramirez & Co, Raymond James, Roosevelt & Cross, Wells Fargo Bank, Baird, Blaylock Beal Van, Estrada Hinojosa & Company, Jefferies, JP Morgan, Morgan Stanley, Piper Jaffray & Co, Prager & Co, Rice Financial Products Company, Stifel, William Blair and The Williams Capital Group.