Finance Briefs

MCR Energy INDEX debuts

Energy companies can compare their estimated earnings growth to peer group companies using MCR Performance Solutions’ INDEX. The INDEX (found at www.mcr-group.com) divides gas and electric utilities into three groups (merchant/marketer; traditional/integrated; distribution) and is building a fourth-high tech, which includes companies producing equipment used in distributed and on-site generation. The INDEX is expected to expand later this year to include a stock ticker featuring INDEX companies, daily updated growth figures, and other growth measures such as total shareholder return.

Natsource partners with LEAP

Natsource LLC, broker of energy related products, will partner with LEAP Energy Fund LP, a venture capital fund focused on investing in private North American alternative energy companies. The fund will seek to broaden market opportunities for products focusing on alternative fuel source development, power technologies, interfacing applications, and convergence opportunities. LEAP Energy Fund LP is expected to materially exceed $50 million before Fund I’s final closing.

American National Power refinances merchant portfolio

International law firm Milbank, Tweed, Hadley & McCloy was involved in the refinancing of six independent merchant power projects owned by affiliates of ANP, the U.S. subsidiary of the U.K.’s International Power. The syndicate of commercial banks providing the $1.4 billion financing was led by ABN-Amro, Citibank, Deutsche Bank, ING-Barings and Societe Generale.

GE backs transmission business

GE Capital Services Structured Finances Group bought a minority stake in Trans-Elect, a two-year-old independent transmission company based in Washington, D.C. In February, Trans-Elect offered more than $5 billion for transmission lines owned by SDG&E, Edison and Pacific Gas & Electric. Trans-Elect said it made its offer believing the California assembly won’t approve Gov. Gray Davis’ deals to buy the two utilities’ lines.

Power networking technology gains $5.5M investment

Sixth Dimension Inc., Fort Collins, Colo., provider of network communications and control technology for the power industry, received $5.5 million in investment funding from EnerTech Capital, RockMountain Ventures and others. The company plans to expand its suite of service packages for remote monitoring and control of distributed assets such as standby generators, meters and load centers by working with software providers of energy information systems.

Severon receives $16.5M financing

Severon Corp., Bend, Ore., received financing totaling $16.5M for growth of their turnkey equipment and services to monitor generation, transmission and distribution substation equipment. Nth Power Technologies, San Francisco, served as lead investor and was joined by Ventures West, Vancouver, B.C.; Perseus LLC, Washington, D.C., New York; ECT Merchant Investments Corp., an affiliate of Enron North America, Houston; and Cascadia Pacific Management and Oregon Life Sciences LLC, Portland, Ore.

Kemper Insurance partners with Aquila

Kemper Insurance Companies, Aquila Inc. and its affiliate Aquila Re Ltd., joined together to market and underwrite products that protect buyers or sellers of electric power. Kemper’s Power Generation Protection provides insurance that indemnifies customers for the difference between a pre-determined price and the cost for replacement power. Aquila’s GuaranteedGeneration provides customers with a contingent call option for power with physical delivery or financial settlement.

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The Clarion Energy Content Team is made up of editors from various publications, including POWERGRID International, Power Engineering, Renewable Energy World, Hydro Review, Smart Energy International, and Power Engineering International. Contact the content lead for this publication at Jennifer.Runyon@ClarionEvents.com.

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