The publicy traded yieldco struggled to maintain value as the cost of solar projects fell and competition increased.
The Brookfield-owned platform is set to significantly boost its European presence, where it currently owns just 11MW in the UK, with its offer for the ACS/GIP renewables vehicle. The offer will be funded via a $400 million equity offering, which Brookfield has agreed to backstop, as well as $800 million of liquidity.
The firm believes the operating hydro plant represents an attractive opportunity for foreign investors looking to enter the Vietnamese renewables market.
The firm’s US developer, Scout Clean Energy, was chosen to modernise the Gonzaga Ridge facility and increase its capacity from 16.5MW to up to 80MW at a cost of $100m.
The investment from the firm's $15.8bn third fund comes days before a scheduled listing for Italo.
Italy’s second-largest solar owner has 332MW under management, although a bid from the largest – Enel and F2i – is now thought to be unlikely. RTR is Terra Firma’s last remaining infrastructure asset after it sold a US-based wind portfolio to BlackRock’s Global Renewable Power Fund II in December.
The AP Moller Capital vehicle has teamed up with UK DFI CDC to place an offer worth $380m for Zambian utility Copperbelt Energy.
The multilateral believes a portfolio approach would help create a pipeline of bankable projects in Southeast Asia.
The 25-year vehicle is targeting £500m with a £750m hard-cap and is aiming for a gross IRR of between 6.5% and 7.5%. In addition, the firm has completed a landmark refinancing for a 64MW portfolio of subsidy-free Italian projects.
Macquarie European Infrastructure II has recently entered its exit period, selling stakes in a UK car parking firm and a French motorway operator.
The Canadian solar developer is investing Down Under for a bigger play in a development-stage portfolio, after selling three construction-stage projects to Foresight early this month.
The new financing package almost trebles the previous agreement ahead of a €1.5bn investment plan.
A further 11.7MW has been acquired by the JPMorgan-owned group, which now owns 114MW in Italy.
Sterlite Power takes full control of its electricity transmission arm in $128m deal for 28.4% stake.
The move bolsters the investors’ interests in the country through their Aela Energia investment platform, which is more than halfway to its target of managing 600MW of clean energy.