Funds in U.S. and China in $3.7 Billion Renewable Energy Deal, Biggest to Date

first_imgBloomberg News:Renewable-power is attracting more investor interest as governments throughout Asia seek alternatives to fossil fuels to meet rising energy demand and combat pollution. Equis Energy, which is developing one of the largest solar plants in Australia, has over 180 assets in operation, construction and development with capacity of more than 11 gigawatts, according to the statement.The size of the deal “may be a signal that scale is also important in the renewable-energy industry as traditional tariff structures and incentives are dismantled and costs need to be reduced to improve investment returns,” Tom O’Sullivan, founder of Tokyo-based energy consultant Mathyos, said by email.The acquisition is the biggest ever for the renewables industry, according to the companies and Bloomberg New Energy Finance. Equis Energy “is a strong fit with GIP’s global renewable-investment strategy,” Adebayo Ogunlesi, GIP’s chairman and managing partner, said in the statement. Equis Energy is the largest independent renewable-energy power producer in the Asia Pacific, according to the statement.Credit Suisse Group AG and JPMorgan Chase & Co. were financial advisers for Equis Energy, with Skadden, Arps, Slate, Meagher & Flom LLP acting as legal adviser. Clifford Chance LLP advised GIP, the companies said.Global Infrastructure Partners III fund is buying Equis Energy with investors including Canada’s Public Sector Pension Investment Board and CIC Capital Corp., it said in a separate statement.Equis Energy assets include:Solar: 2.4 GW of generation capacity; 4.3 GW under development.Wind: 2.3 GW of generation capacity; 2 GW under development.Hydroelectric: 0.3 GW of generation capacity.More: GIP to Buy Equis Energy in Record $5 Billion Renewable Deal Reuters:U.S. fund Global Infrastructure Partners (GIP) has agreed to buy Equis Energy, Asia’s largest independent renewable energy firm, for $3.7 billion with partners including sovereign fund China Investment Corp, underscoring growing global interest in renewables investment.Singapore-headquartered Equis is the largest renewable energy independent power producer in Asia‐Pacific, with over 180 assets comprising solar, wind and hydro generation spread across countries including Australia, Japan, India and the Philippines.Equis’ assets have installed capacity of more than 11 gigawatts. A big chunk of the assets are based in Japan.“The transaction is the largest renewable energy generation acquisition in history and positions GIP as a dominant renewable energy developer in the key OECD growth markets of Australia and Japan, as well as across India and South-East Asia,” Equis Pte Ltd and GIP said in a statement on Wednesday.Moody’s Investors Service said in September that renewables would become a central focus of national energy policies as more countries shift to renewable procurement through competitive auctions.Reuters reported in July that Japanese trading firms, global pension funds, several companies and buyout firms were competing to buy Equis, at a time when many Asian governments are expanding the use of renewable power and its costs are falling.“Government policies are supportive and encouraging of renewables. But just as important and if not more so, is that the cost curve of both wind and solar has come down massively,” one person familiar with the Equis deal said on Wednesday.More: U.S. fund, CIC snap up Equis Energy for $3.7 billion in bet on renewables Funds in U.S. and China in $3.7 Billion Renewable Energy Deal, Biggest to Datecenter_img FacebookTwitterLinkedInEmailPrint分享Wall Street Journal:A group including a U.S.-based private-equity firm and China’s sovereign-wealth fund has agreed to acquire Equis Energy, which oversees one of Asia’s largest collections of independent renewable-energy assets, for $3.7 billion.Global Infrastructure Partners, or GIP, leads the consortium, whose members include China Investment Corp. unit CIC Capital Corp. and Canada’s Public Sector Pension Investment Board, GIP said Wednesday.The planned acquisition will provide the group with access to many of the largest and fastest-growing renewable markets in the Asia-Pacific region, including Japan, Australia, Indonesia, the Philippines, India and Thailand.Equis said that including assumed liabilities of $1.3 billion, the deal is valued at $5 billion.The deal is the largest to date in the global renewable-energy-generation sector, according to a joint statement by Equis and GIP.Equis takes investments from various global public and private pension funds and financial institutions to develop and manage its renewable-energy portfolio. It has more than 180 such assets, comprising capacity of 11,135 megawatts, across the Asia-Pacific region.More ($): U.S., China Funds Land Asian Renewable-Energy Giant Equislast_img read more

Walsh, Brown excel in UW weekend split at Big Toe Invitational

first_imgAfter seeing her team lose a nail-biter the previous night, Taylor Walsh wasn’t about to let Wisconsin come out of the Big Toe Invitational without a positive result. Walsh scored a pair of goals to lift the Wisconsin women’s soccer team over in-state rival UW-Milwaukee and help the club rebound from a Friday-night overtime loss to Brigham Young University.Walsh and the Badgers were able to take hold of Saturday’s game early when she notched her first career goal as a Badger at 1:11 to give Wisconsin an early 1-0 lead. Sophomore Ann Eshun hit Walsh mid-stride as she beat UWM goalie Erin Kane on the upper left side. Later in the half, Walsh recorded her second score following an assist from junior Allison Preiss at 26:28.Wisconsin continued to control the remainder of the contest. Senior Katy Lindenmuth scored next for the Badgers, her third goal of the season. Ten minuets later, Preiss scored her second goal of the season on a header from senior Becky Katsma. Wisconsin goalkeeper Lynn Murray recorded her third shutout of the season, stopping five UWM shot attempts, as the Badgers ended their match against the Panthers with a 4-0 win.”The way Taylor (Walsh) took that first shot really made a statement,” Wisconsin head coach Dean Duerst said. “We came out of the box early. We showed a lot of maturity and leadership being ready for this match after a tough loss. Getting an early goal helped.”In Saturday’s contest, Wisconsin was upended 2-1 in double overtime against undefeated BYU (7-0-0). The game proved to be a real defensive match-up as neither team could find their niche on offense.BYU struck first when its leading scorer, Jessica Aquino, beat Murray at 34:45. Fortunately for Wisconsin, the Badgers found themselves only down one goal at halftime after surviving a barrage of BYU scoring attacks.”[In the first half] we gave them a little bit in terms of more space and didn’t really allow them to sneak in behind as much,” Duerst said. “Part of that is our midfield stepped up its pressure and started to close down spaces so they didn’t have as much time, and time and space is key in soccer.”Following halftime, Wisconsin was able to make necessary defensive adjustments to hold off Aquino and the Cougar offense. Halfway through the second period, junior midfielder Kara Kabellis scored her second goal of the season to tie the game 1-1. The game remained tied all the way into the second sudden-death period until BYU scored the controversial game-deciding goal. Before the final goal, Kabellis had the ball up field, until BYU’s senior captain Jaime Rendich Beck slide tackled Kabellis, causing her to go down hard. No foul was issued from the referee, in what had been to that point, a tightly called game. Beck continued down the sideline and scored past a diving Murray for the game winner.”Overall, we didn’t play as consistently as we could have,” Duerst said. “We put together some great combinations and really moved the ball around well, [but] we didn’t sustain enough of that. I think the bottom line is, we had two or three chances that didn’t go our way. It was a very exciting game; anybody could have won that one. So, it’s a really tough loss because it could have been a tie.”Walsh, Kabellis and Marisa Brown were all selected to the Big Toe All-Tournament team. In addition, Brown was named the tournament’s most outstanding defensive player. Brown played exceptionally over the weekend while taking over for team co-captain Jessica Ring, who missed the game after picking up a redcard last weekend against Washington.”Marisa is just noticeable; she is everywhere,” Duerst said. “She is such a complete player and is capable of playing any position.”last_img read more

Gibson, Dietrich lead Rangers to a 6-4 win over Rockies

first_img First Published: 16th August, 2020 09:36 IST Associated Press Television News WATCH US LIVE Last Updated: 16th August, 2020 09:36 IST Gibson, Dietrich Lead Rangers To A 6-4 Win Over Rockies Kyle Gibson pitched into the seventh inning for his first win with Texas and newly signed Derek Dietrich hit a two-out, three-run home run in the eighth as the Rangers beat the Colorado Rockies 6-4 Saturday night for their season-high fourth consecutive win Kyle Gibson pitched into the seventh inning for his first win with Texas and newly signed Derek Dietrich hit a two-out, three-run home run in the eighth as the Rangers beat the Colorado Rockies 6-4 Saturday night for their season-high fourth consecutive win.Shinn-Soo Choo had three hits and two RBIs and Jose Trevino also had three hits for the Rangers, who ensured their third straight series win. They moved a game above .500 for the first time since a season-opening win over Colorado in Texas.Trevor Story had three hits and Tony Wolters had a two-run double for the Rockies, who have lost five of six since an 11-3 start. Charlie Blackmon broke out of an 0-11 run at the plate with an eighth inning triple, leaving his batting average at .438.Gibson (1-2), who signed with Texas in the offseason after spending the first 10 years of his career with Minnesota, went 6 1/3 innings and allowed two runs on seven hits. He struck out two and walked one in his first career appearance against the Rockies. Rafael Montero worked the ninth for his fifth save, allowing an unearned run after leadoff man Raimel Tapia reached on catcher’s interference.Dietrich, who hit a career-high 19 home runs for Cincinnati last season, joined the Rangers on a minor league deal Monday after being released by the Chicago Cubs a week ago. He was signed to a major league contract Tuesday and activated by the Rangers and has been making an impact ever since.In the eighth, he hit the first pitch he saw from Carlos Estevez, driving it the opposite way into the left field bleachers for his first homer with the Rangers.The Rockies broke on top on Wolters’ two-run double in the second inning but the Rangers generated plenty of baserunners against German Marquez (2-3) and managed to chip away at the lead despite a Colorado defense that turned three double plays.Choo’s RBI singles in the third and fifth innings pulled the Rangers into a 2-2 tie. Isiah Kiner-Falefa reached on a fielder’s choice for the first out in the fifth and Willie Calhoun followed by lining out to third baseman Nolan Arenado. But Arenado threw wide of first for an error trying to double up Kiner-Falefa, allowing Jose Trevino to score from third with a go-ahead run.Marquez went six innings and allowed nine hits and three runs — two earned. He walked two and struck out three.REFLECTIONS ON A GEMThe complete-game victory by the Rangers’ Lance Lynn on Friday was just the eighth time in the history of hitter-friendly Coors Field in which two or fewer hits were allowed over a nine-inning game. Lynn, who improved to 3-0 with a 1.11 ERA on the season, was also the first opposing pitcher to go the distance at the park and limit the Rockies to two or fewer hits without issuing a walk. “It goes to show you how overpowering his fastball really is and how much life is on it,” teammate Todd Frazier said. “It’s fun to play behind him. He works quick, he’s got energy, he’s got passion.”TRAINER’S ROOMRockies: INF-OF Chris Owings missed a second consecutive game with a strained left hamstring. He left Wednesday’s game against Arizona early after sustaining the injury running out a groundout.UP NEXTRangers: LHP Kolby Allard (0-0, 1.00 ERA) is pitching off a career-high seven days between starts. He allowed two hits in five scoreless innings in his last outing against the Los Angeles Angels. Left-handed hitters are 0-5 with five strikeouts against him this season.Rockies: RHP Jon Gray (0-2, 6.41 ERA) was roughed up in his last outing against Arizona, giving up eight runs on 11 hits in 3 1-3 innings. But he has had success in interleague play, especially at Coors Field, where he’s 4-0 with a 1.85 ERA in six career games against AL teams.Image credits: AP COMMENTcenter_img Written By SUBSCRIBE TO US LIVE TV FOLLOW USlast_img read more