Morning Brief: Financing markets for renewable energy rebound, tax equity could top 2019

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Also in the brief: NextEra developing a 500-MW solar/500 MW battery project in Kansas, PV system output during California smoke is near zero, solar in Wyoming and Sunrun is cleared to acquire Vivint by US DOJ. September 14, 2020 Eric WesoffDespite hitting a snag earlier in 2020, renewable project and acquisition financing seems to be healthy, with the tax equity market expected to grow by $3 billion over 2019 and capital markets “flush with liquidity,” according to investors and developers at the last week’s virtual REFF Wall Street. Bernardo Goarmon, CFO at EDP Renewables North America, speaking on one panel, said, “Back in March there was a perfect storm, certainly, so what we saw in the capital markets and what we saw in terms of the rush on liquidity was unprecedented.” Now, however, “capital doesn’t seem to be scarce.” Meghan Schultz, senior VP of finance and capital markets at Invenergy, said, “I think unlike the tax equity market where there are some constraints, the commercial debt market does not seem to be constrained,” said Schultz, calling it “flush with liquidity.” Source: S&P GlobalAn important step in the process of Sunrun acquiring Vivint Solar was completed: It was determined by the U.S. …

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