|
Fortis is involved throughout the energy value chain. We finance businesses active in oil and gas production, energy infrastructure, power generation and distribution, and water and waste. The two greatest challenges currently facing the energy market are climate change and security of supply. Conventional energy will remain crucially important, while renewable power sources are set to grow exponentially. Fortis is committed to expand its renewable energy portfolio, both in absolute terms and as a percentage of our overall energy book.
Our Global Energy & Utilities Group has been active in renewable energy finance across Europe and North America for over a decade. Today, we are one of the leading banks in this field. Fortis has been named a “clear leader in the space of clean energy financing” by New Energy Finance Ltd., topping the league tables for syndicated financing of clean energy projects. Click here for more information.
We have dedicated energy teams in Singapore, Hong Kong, Calgary, Sydney and Tokyo, offering our industry knowledge, structuring capacity and client coverage skills to regions with great potential in terms of renewable energy.
Click here to learn more about renewable energy finance at Fortis. For an overview of last year’s energy financing performance, please refer to our annual CSR Report.
|
Highlight |
|
Examples of renewable energy deals
CLP Envirogas acquisition
Fortis closed a major renewable energy portfolio financing deal totalling GBP 117 million in the first quarter of 2007 as part of Macquarie European Infrastructure Fund's acquisition of CLP Envirogas Group. The 70 MW portfolio consists of 24 landfill gas power generation sites in the UK at which power is generated by capturing the methane (a major greenhouse gas and contributor to climate change) from the landfills and using it as its fuel input.
NedPower Mount Storm LLC
We successfully closed the syndication of Phase I of NedPower Mount Storm LLC - the ground-breaking, non-recourse project financing of a 264MW West Virginia wind farm. The project is jointly owned by Shell WindEnergy, one of the largest wind farm owners in the world, and Dominion Resources, which is a leading US energy producer. This deal further enhances our reputation as a pioneer and leader in the US wind market.
AES - Locust Ridge
Fortis closed and funded a USD 26 million tax equity investment (49.9% of total project costs) in Iberdrola's wind project in Locust Ridge, Pennsylvania. We were the sole tax equity provider for Locust Ridge, which is Iberdrola's first completed wind project in the US market. The tax equity product offering also differentiates Fortis from many of our competitors in the US renewable energy market. |
 |
| |
|
a
a
a
About Fortis
Search CSR Site
