Market Updates

T-REX Market Update 4/8/2016

By April 8, 2016 No Comments

T-REX Market Update 4/8/2016

  • USA Today: Impending SunEdison bankruptcy becomes increasingly likely
    • A report by the Wall Street Journal on Friday that the company plans to file for bankruptcy sent the stock price diving on Monday, falling 53% to 20 cents.
    • March was a turbulent month for SunEdison, including the failed acquisition of Vivint, the delayed filing of the company’s annual report, and reported investigations from the U.S. Justice Department.
    • See the link above for a featured video clip in the article of T-REX CEO Benjamin Cohen speaking about SunEdison on Bloomberg West.
  • MassLive: Massachusetts reaches agreement on net metering cap
    • Massachusetts House passed a bill that raises the cap on net metering while lowering reimbursement rates for solar energy.
    • The bill would lift the cap on solar net metering by 3% for both public and private projects. It would decrease the reimbursement rate paid to most solar energy producers by 40%.
    • The lower rate would not apply to small residential projects or to government-owned projects. It would apply to larger commercial and residential solar projects and to community shared solar. Existing projects could keep the old rate for 25 years.
  • Hawaiian Electric: HECO unveils 30-year energy plan to transition to 100% renewable energy
    • The plan positions the state to:
      • Increase private rooftop solar by more than 250% from current levels and 370% over 2014 levels
      • Achieve 100% renewable energy by 2045, the highest level of any state in the country
    • Hawaii already received more than 23% of energy from renewables in 2015.
    • The path to 100% renewable energy will continue with five-year action plans to maintain the momentum by developing projects and programs that will lay the foundation for even more progress.
    • For an extensive list of the action plans to drive this target, see the link above.
  • GTM: Mexico holds its first Clean Energy Auction, 1,860MW won at $50.7/MWh
    • Mexico held its first Clean Energy Auction for energy, power and Clean Energy Certificates for purchase by CFE, Mexico’s only utility. 11 PV projects have been awarded contracts worth 4 million MWh (DC) per year.
    • Seven developers were involved in the winning projects:
      • Enel Green Power
      • SunPower
      • Jinko Solar
      • Recurrent Energy
      • Sol de Insurgentes
      • Photoemeris Sustentable
    • The auction was open to wind, hydro, cogeneration, combined-cycle gas, geothermal, and PV. Out of a total 5.38 million MWh of energy that was awarded, PV won 74% and wind won the remaining 26%.
    • The auction increases solar forecasts in Mexico by the following:
      • 2016: from 267% to 521%
      • 2017: from 77% to 124%

Written by T-REX Associate Robert Bray



Energy & Infrastructure Project Finance


Structured Credit Markets

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