EDP’s U.S. wind, solar assets may spark bidding war

first_imgEDP’s U.S. wind, solar assets may spark bidding war FacebookTwitterLinkedInEmailPrint分享Bloomberg:France’s Engie SA and Denmark’s Orsted A/S are among suitors considering a bid for the 7.6 billion-euro ($8.9 billion) renewables unit of EDP-Energias de Portugal SA, according to people with knowledge of the matter, adding a potential new twist to China Three Gorges Corp.’s pursuit of the company and its parent.Engie and Orsted are working with advisers on evaluating offers for all or part of EDP Renovaveis SA, the people said, declining to be identified as the discussions are confidential. Paris-based Engie is most interested in the firm’s U.S. portfolio, but is considering making a bid for the complete renewables unit, two of the people said. The deliberations are in early stages, and the suitors may opt not to make a formal offer, they said.EDP Renovaveis is also drawing interest from other European utilities seeking to expand in renewables, the people said. Potential buyers are preparing for the Chinese firm to sell certain assets to secure regulatory approval should its takeover offer succeed, the people said. Engie could even team up with the Chinese to buy certain assets to help facilitate U.S. approval, they said.The Chinese firm’s bid would be subject to several regulatory approvals, including from the Committee on Foreign Investment in the U.S. Three Gorges said in the offer announcement on May 11 that it doesn’t rule out accepting some “mitigation measures’’ from that regulator.EDP’s North American unit controls a sprawling clean energy portfolio, with whole or partial stakes in more than 5,600 megawatts of wind and solar farms. Selling it all at once “would be the biggest renewable-energy portfolio disposal ever,” Angus McCrone, chief editor of Bloomberg NEF, said in an email.. EDP’s North American portfolio includes 45 wind farms and five solar farms, according to a list the company provided in May. Most of the North American plants are in the U.S.More: Engie weighs offer for $8.5 billion EDP Renovaveislast_img read more

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Suffolk Dems Maintain Legislative Majority

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Suffolk Democratic Chairman Rich Schaffer addresses supporters in Hauppauge on Tuesday, Nov. 5, 2013.Suffolk County Democrats lost one key seat in their legislative majority but made up for it by unseating a renegade member who didn’t caucus with the party and recapturing another open seat.The unofficial election results of Tuesday’s election appear to ensure that Steve Bellone, in his sophomore year as Suffolk County executive, can still rely on the chamber led by Democratic allies despite the slight turnover.“We’ve done a lot in two years,” Bellone told a crowd of several hundred cheering supporters at the IBEW Local 25 Hall in Hauppauge. “But you haven’t seen anything yet!”The two biggest legislative upsets came when Republican Kevin McCaffrey, a Lindenhurst village trustee, won the seat held by outgoing temporary Presiding Officer Wayne Horsley (D-Babylon) and when political newcomer Monica Martinez unseated fellow Democrat Legis. Rick Montano (D-Central Islip).“Right now the county executive has a veto-proof majority in there and people don’t like that,” McCaffrey told the Press at the Suffolk GOP gathering in Patchogue. “They want to be able to have some sort of balance in the legislature.”There were a few nail-biters, including when Legis. Sarah Anker (D-Mt. Sinai) narrowly fended off GOP challenger Jennifer Juengst 52 to 48 percent, the same margin that William Lindsay Jr., son of the late presiding officer, beat Republican Anthony Musumeci.But, the political makeup of the 18-member body will mostly remain the same as Republican Robert Trotta won the seat held by term-limited Legis. Lynne Nowick (R-St. James), keeping it away from Democrat Elaine Turley.Democratic incumbents who held off Republicans include freshman Legis. Al Krupski (D-Cutchogue), Legis. Kara Hahn (D-Setauket), Legis. Robert Calarco (D-Patchogue), Legis. Dr. William Spencer (D-Centerport), Legis. Lou D’Amaro (D-Huntington Station) and Majority Leader DuWayne Gregory (D-Amityville). Legis. Steve Stern (D-Dix Hills) ran unopposed.Republican lawmakers who resisted Democrats include Legis. Tom Muatore (R-Ronkonkoma) and Minority Leader John M. Kennedy Jr. (R-Nesconset). Legis. Tom Cilmi (R-East Islip) and Legis. Tom Barraga (R-West Islip) were both uncontested.Third-party incumbents Legis. Kate Browning (WF-Shirley) and Legis. Jay Schneiderman (I-Montauk) were also re-elected.Suffolk Democratic Chairman Rich Schaffer, who was re-elected Babylon Town Supervisor, credited the wins to Lindsay’s father, who died this summer.“We miss him dearly…he’s left us too soon,” Schaffer said. “But I know today he is with us. He is here and he is smiling down because the one thing he told me…was ‘Rich, don’t screw up Billy’s campaign.’”last_img read more

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