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Stock Market & Financial Investment News

News Breaks
July 3, 2014
07:02 EDTAES, SUNESunEdison acquires 50% stake in Silver Ridge Power Joint Venture
SunEdison (SUNE) completed its acquisition of a 50% ownership stake in Silver Ridge Power, from a subsidiary of AES Corporation (AES) for approximately $178.6M in cash. Through its ownership in the SRP joint venture, SunEdison now owns a 50% interest in 336 MW of solar power plant operating projects, including the 266 MW Mt. Signal solar project in California, and a 40% interest in the Tenaska Imperial Solar Energy Center West 183 MW solar power facility to be completed in 2016. SunEdison will provide operations and management (O&M) and asset management for SRP's entire projects portfolio.
News For SUNE;AES From The Last 14 Days
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December 16, 2014
07:42 EDTSUNESunEdison closes $117M solar fund
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December 15, 2014
16:32 EDTAESAES Corp. names Bernerd Da Santos as COO
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10:10 EDTSUNESolar stocks could be volatile ahead of ITC/ITA decisions, says Brean Capital
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07:37 EDTSUNESunEdison to invest over $700M to develop 350 MW of solar in Chile
SunEdison (SUNE) announced that the National Energy Commission in Chile has awarded SunEdison a contract to supply 570 gigawatt hours of clean energy a year. SunEdison noted that the National Energy Commission in Chile recently changed the bidding process used to award electricity supply contracts for the regulated market to create a more level playing field across different kinds of energy. With these changes, SunEdison was able to bid on and win supply contracts for 570 gigawatt hours of solar energy. SunEdison was awarded the provision of 190 gigawatt hours per year during the daytime block which begins in 2016 and a further provision of 380 gigawatt hours per during the daytime block which will become operational in 2017. To meet the demand, SunEdison will be investing more than $700M to develop 350 megawatts of utility scale solar photovoltaic power plants throughout the country. The plants will be added to the call right list of TerraForm Power (TERP), a global owner and operator of renewable energy power plants.
07:13 EDTAESAES Corp. agrees to sell minority interest in IPALCO Enterprises for $244M
The AES Corporation has entered into an agreement with La Caisse de dépôt et placement du Québec, a long-term institutional investor headquartered in Quebec, Canada. Pursuant to the agreement, CDPQ will purchase 15% of AES US Investments, Inc., a wholly-owned subsidiary of AES that owns 100% of IPALCO Enterprises, Inc, for $244M. In addition, CDPQ will invest approximately US$349 million in IPALCO through 2016, in exchange for a 17.65% equity stake, funding existing growth and environmental projects at Indianapolis Power & Light Company. After completion of these transactions, CDPQ’s direct and indirect interests in IPALCO will total 30%, AES will own 85% of AES US Investments, and AES US Investments will own 82.35% of IPALCO. There will be no change in management or operational control of AES US Investments or IPALCO as a result of these transactions. AES expects these transactions to be modestly accretive to Adjusted EPS based on reduced equity commitments from AES to fund existing growth and environmental projects at IPL and the initial cash investment by CDPQ, which AES will invest in line with its stated capital allocation framework. Subject to customary regulatory approvals, including from the Federal Energy Regulatory Commission and the Committee on Foreign Investments in the United States, these transactions are expected to close in first half 2015.
07:06 EDTAESAES Corp. raises quarterly dividend to 10c per share from 5c
The Board of Directors of The AES Corporation approved a 100% increase in the company’s quarterly common stock dividend, to 10c per share from 5c per share. The Board of Directors will continue to review the dividend on an annual basis. The company expects the dividend to grow at an approximate 10% annual rate, consistent with Parent Free Cash Flow growth of 10% to 15% per year on average through 2018. The Board of Directors declared a quarterly common stock dividend of 10c per share payable on February 17, 2015, to shareholders of record at the close of business on February 3, 2015.

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