• MUFG and Allianz Renewable Energy Partners of America LLC are committing around 340 million US dollars for 100% of the project’s “Class B” equity interests;
• Enel Group will retain 100% of Red Dirt’s “Class A” interests and control of the project;
• Overall investment in Red Dirt amounts to approx. 420 million U.S. dollars.

Enel Green Power North America, Inc. (“EGPNA”), the Enel Group’s US renewable energy company, acting through its subsidiary Red Dirt Wind Holdings, LLC (“Red Dirt Holdings”), 1 has signed a tax equity agreement worth approximately 340 million U.S. dollars with MUFG and Allianz Renewable Energy Partners of America LLC (“Allianz”) for the Red Dirt wind project located in Oklahoma, which has a total installed capacity of around 300 MW.

Under the agreement, which is common for the development of renewable energy projects in the United States, MUFG and Allianz will pay the above amount to the wind farm owner, Red Dirt Holdings, purchasing 100% of “Class B” equity interests in the project. This interest will allow the two investors to obtain, under certain conditions set by U.S. tax laws, a percentage of the fiscal benefits of the Red Dirt wind project. In turn, EGPNA, through Red Dirt Holdings, will retain 100% ownership of the “Class A” interests and therefore management control of the project.

The agreement secures the funding commitment by the two investors, while the closing of the funding is expected upon start of commercial operation of the Red Dirt wind farm. The tax equity partnership will be supported by a parent company guarantee from Enel S.p.A.

The Red Dirt wind project, whose construction started in April, is expected to begin operations by the end of 2017. The investment in Red Dirt amounts to, approximately, 420 million U.S. dollars, which is part of the investment outlined in Enel’s current strategic plan.

Once fully up and running, Red Dirt will be able to generate approximately 1,200 GWh of renewable energy annually, which is equivalent to the energy consumption needs of more than 97,000 U.S. households, while avoiding the emission of about 860,000 tonnes of CO2 each year.

The energy and renewable energy credits generated from Red Dirt will be sold under two long-term agreements, with T-Mobile USA, Inc. (NASDAQ: TMUS) for 160 MW and with the Grand River Dam Authority for 140 MW of the wind facility.

EGPNA is a leading owner and operator of renewable energy plants in North America with projects operating and under development in 23 U.S. states and two Canadian provinces. EGPNA operates around 100 plants with a managed capacity exceeding 3.3 GW powered by renewable hydropower, wind, geothermal and solar energy. The company currently ranks as the second largest wind operator in Oklahoma, where it is building, in addition to Red Dirt, the 298 MW Thunder Ranch wind project. In the state, EGPNA already operates the wind farms Rocky Ridge (150 MW), Chisholm View I & II (300 MW in total), Origin (150 MW), Osage Wind (150 MW), Little Elk (74 MW), Goodwell (200 MW) and Drift Sand (108 MW) for a total managed capacity of more than 1.1 GW. The company’s overall investment in Oklahoma amounts to over 2.7 billion US dollars considering the two projects under construction and those already in operation.

Enel Green Power (enelgreenpower.com), the Renewable Energies division of Enel Group, is dedicated to the development and operation of renewables across the world, with a presence in Europe, the Americas, Asia, Africa and Oceania. Enel Green Power is a global leader in the green energy sector with a managed capacity of around 39 GW across a generation mix that includes wind, solar, geothermal, biomass and hydropower, and is at the forefront of integrating innovative technologies like storage systems into renewable power plants.

1. Red Dirt Wind Holdings, LLC, which owns the project through the special purpose vehicle Red Dirt Wind Project, LLC, is a wholly owned subsidiary of EGPNA.

Read more: Enel Signs Tax Equity Agreement for 300 MW Red...

SAN FRANCISCO--(BUSINESS WIRE)--The California Public Utilities Commission’s (CPUC) energy efficiency education program, Energy Upgrade California, will mark the coming together of communities and businesses throughout the state in an epic unifying experience – to witness the Great American Eclipse and collectively pledge to do their part to lower California’s electricity use on eclipse day, August 21, and every day.

“We lead the nation in energy efficiency, but we can all do more,” said CPUC President Michael Picker. “When the moon comes between the earth and the sun, we can all step in and do one simple thing to offset the loss of solar power to the grid. We can all power down, use our watts more wisely, and reduce the need for gas peaker plants by unplugging home electronics and chargers and shutting down power strips that aren’t in use.”

Consumers can take a pledge to do one thing for the sun during the eclipse at CalEclipse.org.

California has some of the most ambitious renewable energy goals in the nation, including reaching 33 percent renewable energy by 2020 and 50 percent by 2030. California currently generates nearly 10,000 megawatts of solar power, which can meet up to 40 percent of energy needs on some days.

The California Independent System Operator anticipates sufficient energy supplies and network reliability during the solar eclipse.

As California continues to increasingly turn to solar power, consumer action and conservation is anticipated to become an ever-increasingly important aspect of managing effective power supply when the sun’s rays are not shining – whether on cloudy days, evenings, or during a solar eclipse. Leading up to this solar eclipse, the CPUC is joining with leaders around California who are using the historic event as an opportunity to highlight California’s large and growing adoption of solar power – and the new opportunities for conservation this energy source presents.

“The solar eclipse reminds us how important solar energy has become to California,” said Governor Edmund G. Brown Jr. “Conservation is key when the sun’s rays are taking a break.”

While some parts of the country will experience a total eclipse, California’s view will be partially obscured from 76 percent in Northern California to 62 percent in Southern California from about 9:02 a.m. until approximately 11:54 a.m. California won’t see another eclipse of this magnitude until 2045.

City and Community Leaders Join the Movement

California’s cities, community organizations and businesses are also doing their part by becoming sun partners. Nearly 70 community and business organization leaders and 16 cities have stepped up since the “Do Your Thing” program launched in April, joining the Energy Upgrade California movement and committing to doing more to save energy.

To show his support, San Francisco Mayor Edwin M. Lee will lead an eclipse viewing event at City Hall on the day of the eclipse day to encourage all San Franciscans to take an active role in meeting California’s long-term energy goals.

“The City of San Francisco is proud of how energy efficient our residents are on a daily basis,” said Mayor Lee. “Energy consciousness is woven into the fabric of our city, but there is always something more we can do in our daily routines to make an even bigger impact for our state. We have a responsibility as residents and business owners to start by unplugging our devices and getting outside to watch this amazing phenomenon.”

Organizations such as Small Business Majority have joined because of the benefits it can bring to small business owners looking to go green while improving their bottom line. “Many small business owners struggle with expensive electricity bills. They want to invest in energy efficiency to increase savings, but they often don’t know where to start. That’s why we are pleased to support Energy Upgrade California, which helps small businesses across the state identify easy ways to increase their energy efficiency and save money on their bills,” said Mark Herbert, California Director, Small Business Majority.

New Energy Behind Our Leadership Position

California is known for doing its thing when it comes to conservation and energy efficiency. According to the U.S. Energy Information Administration, Californians’ electricity consumption has remained flat during the past 40 years, while the other 49 states increased their average per capita energy use by more than 50 percent. California produces twice as much economic output for every kilowatt-hour consumed compared to the rest of the country.

The Natural Resources Defense Council estimates that California’s increased energy efficiency has eliminated more than 30 million metric tons of Co2 pollution, equal to the annual emissions of 6 million cars. The state also has created hundreds of thousands of energy efficiency jobs.

“We lead the nation in energy efficiency, but we can do more,” added President Picker. “On eclipse day, to offset the loss of solar power to the grid, we can all see how easy it is to simply power down and use our watts more wisely.”

How to Join Your Fellow Californians

Starting with simple actions can create sustained behavior changes over time:

  • Unplug “vampire” electronics. These are things like coffee makers, televisions, computers, and gadgets that even when turned off, use energy. Nearly a quarter of the electricity used to power home electronics is consumed while the products are turned off. According to the Natural Resources Defense Council, the average U.S. household spends $100 per year to power devices while they are off or in standby mode.
  • Upgrade to LED light bulbs. If all Californians upgraded to LED light bulbs, the state could reduce CO2 emissions equivalent to those produced by a coal-fired power plant in one year. LED light bulbs use at least 75 percent less energy than “old fashioned” incandescent bulbs and save $70 annually.
  • Be mindful about time of use. By using high energy consuming devices, such as dishwashers, air conditioners, and washing machines after 9 p.m., Californians may be able to reduce their energy bills. This also reduces the need to use the most expensive, carbon-intensive forms of power generation during peak demand times.

About Energy Upgrade California

Created by the California Public Utilities Commission (CPUC) in 2011 and funded through the landmark “Clean Energy and Pollution Reduction Act of 2015,” Energy Upgrade California is a statewide marketing, education, and outreach (ME&O) initiative to promote energy management concepts, energy efficiency actions, and clean energy opportunities for the state’s residents and businesses. Visit www.energyupgradeca.org to learn more.

About the California Public Utilities Commission

The CPUC regulates privately owned electric, natural gas, telecommunications, water, railroad, rail transit, and passenger transportation companies. The CPUC serves the public interest by protecting consumers and ensuring the provision of safe, reliable utility service and infrastructure at just and reasonable rates, with a commitment to environmental enhancement and a healthy California economy. Visit www.cpuc.ca.gov to learn more.

Read more: “Do Your Thing” California: Save Energy on...

ATLANTA & GRANITEVILLE, S.C.--(BUSINESS WIRE)--MTU America (a subsidiary of Rolls-Royce) held a ceremony on August 9, 2017 in Graniteville, South Carolina, to celebrate a 1.35 MW (DC) ground mounted solar array installed on a 7-acre site highly visible from the I-20 exit ramp in Graniteville. SolAmerica Energy of Atlanta, GA (“SolAmerica”) designed and installed the system and will maintain the project for MTU America. The project will generate energy income for MTU America through a Bill Credit Program with South Carolina Electric & Gas (SCE&G), and was financed under an agreement with Key Equipment Finance, a division of KeyBank.

South Carolina Governor Henry McMaster and Congressman Joe Wilson attended the ceremony, along with other government and business leaders, and participated in “flipping the switch” with MTU America to officially launch the project.

Speaking on behalf of MTU America, Joerg Klisch, Director of Operations of MTU America, stated, “This is a very exciting project for MTU. We are committed to pushing the boundaries of technology in the power solutions we provide to our customers, and solar projects like this will be an important part of the power mix in the future. SolAmerica has been a valuable partner in making this project a reality.”

“The SolAmerica team has been honored to work with MTU America, Key Equipment Finance, SCE&G and Aiken County on this high-profile project in the Graniteville community,” stated George Mori, President of SolAmerica. “South Carolina is a terrific market for distributed solar generation, and MTU deserves a lot of credit for its leadership in launching such an exciting project.”

For more information on this news release and the event itself, please contact Scott Garrett at 770-826-7366 or This email address is being protected from spambots. You need JavaScript enabled to view it..

About SolAmerica Energy—www.SolAmericaenergy.com
SolAmerica Energy develops, finances, and constructs commercial and utility-scale solar photovoltaic projects. Based in Atlanta, Georgia, SolAmerica Energy has built solar projects for many of the leading companies in the Southeast and has developed projects for nationally recognized investors and owner-operators.

About MTU Americawww.mtu-online.com
MTU America Inc. is the North America subsidiary of Rolls-Royce Power Systems. As a technological leader in off-highway power and propulsion systems, MTU America is responsible for the manufacture, sales and service of MTU and MTU Onsite Energy products throughout the United States, Canada, Mexico, Latin America and the Caribbean. MTU America’s core products — MTU diesel engines and MTU Onsite Energy distributed energy systems — can be found in a broad range of applications — from mine haul trucks, military vehicles and marine vessels to hospitals, data centers and universities. With a passion for performance and reliability, MTU offers first-class service and a tradition of excellence to customers all over the world. MTU also is leading the way in green technology, committed to environmental stewardship by making a difference in clean air technology and building a sustainable future. MTU’s entire product line is engineered today to meet the emissions regulations of tomorrow.

About Key Equipment Financewww.keyequipmentfinance.com
Key Equipment Finance has been in the equipment finance business for 44 years and is one of the largest bank-based equipment finance providers in the U.S. The company’s bank channel unit provides tailored equipment lease and finance solutions for commercial clients in the U.S. and Canada. Through its commercial vendor unit, equipment finance programs are developed for manufacturers, distributors and resellers. The company’s government finance unit, Key Government Finance, provides financing solutions for state and local government entities, the federal government and not-for-profit organizations. Key Equipment Finance’s specialty finance group includes a specialty finance lending team, which provides structured facilities to various sectors of the specialty finance market, and a lease capital markets team to support corporations looking to optimize risk and revenue. Headquartered outside Denver, Colorado, Key Equipment Finance manages approximately $12 billion in assets and originates more than $4.5 billion of equipment financing annually.

Read more: SolAmerica Energy Partners with MTU America to...

CHICAGO, Aug. 17, 2017 /PRNewswire/ -- Marathon Capital, LLC is pleased to announce the sale of a 194 MWDC utility-scale solar portfolio by Heelstone Energy Holdings, LLC ("Heelstone") to Sammons Renewable Energy ("SRE").

Heelstone, headquartered in Chapel Hill, North Carolina, is a leading developer, owner and operator of solar projects.

Will Owens, Member of the Board of Managers and Managing Director of Heelstone, said, "We are confident that the portfolio has found an ideal long-term home with SRE. As we look to the future, we are well positioned with our current pipeline to develop and bring additional solar PV projects to completion. On behalf of the entire Heelstone team, I would like to thank Marathon Capital for their advice, expertise, and a job well done."

"The Heelstone assets are a compelling fit for the SRE portfolio," commented Kevin Lapidus of Franklin Park.  Franklin Park manages Sammons Renewable Energy on behalf of Sammons Infrastructure, a wholly owned subsidiary of Sammons Enterprises.   

Heelstone will continue to provide asset and operations management services to SRE for the 194 MWDC utility-scale solar portfolio.

Marathon Capital acted as the exclusive financial advisor to Heelstone on the sell-side process. "It has been a pleasure to work with both the Heelstone and SRE teams. Heelstone has accomplished a lot and has an exciting future ahead of them. We are thankful for their trust and are delighted with the outcome," said Ammad Faisal, Director of Marathon Capital.

About Heelstone

Heelstone, https://heelstoneenergy.com, is a leading independent power producer and solar developer with expertise across the downstream solar value chain. Heelstone has proven capabilities to source, finance, build and operate high-quality solar assets.

About Sammons Renewable Energy

SRE invests in renewable energy projects in the U.S., Canada and Mexico. The company identifies solar, wind and hydro-related opportunities for development and investment. SRE is managed by Franklin Park Investments.

About Franklin Park

Franklin Park Investments, http://www.franklinparkinvestments.com, provides energy and infrastructure services in major global markets, including North and South America, Europe and Asia. Franklin Park's activities include conventional and renewable electricity generation, electric distribution, rail and road transport and supply chain logistics. Franklin Park manages SRE, with an investment focus on wind, solar and hydroelectric generation in North America.

About Marathon Capital

Marathon Capital is a leading financial advisory and investment banking firm focused on providing financial advice in the areas of M&A, capital raising of debt and equity, project finance, tax equity, financial restructuring, recapitalization, bankruptcy and workout situations in the energy sector. Marathon Capital is a four-time recipient of the "Best Renewable Asset M&A Advisor" Award (2013, 2014, 2016, 2017), "Renewable Generating Project Finance Deal of the Year" Award (2016) and first-time recipient of the "Best Asset M&A Advisor (2017) in Power Finance & Risk's Annual Power Finance Deals and Firms Awards. www.marathon-cap.com

View original content:http://www.prnewswire.com/news-releases/marathon-capital-advises-heelstone-energy-on-the-sale-of-a-194-mwdc-solar-portfolio-to-sammons-renewable-energy-300505797.html

SOURCE Marathon Capital

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