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  1. GUELPH, Ontario, Aug. 1, 2016 /PRNewswire/ -- Canadian Solar Inc. ("the Company", "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that it will hold a conference call on Thursday, August 18, 2016 at 8:00 a.m. U.S. Eastern Daylight Time (8:00 p.m., August 18, 2016 in Hong Kong) to discuss the Company's second quarter 2016 results and business outlook. The dial-in phone number for the live audio call is +1 866 519 4004 (toll-free from the U.S.), +852 3018 6771 (local dial-in from HK) or +1 845 675 0437 from international locations. The passcode for the call is 40195616. A live webcast of the conference call will also be available on Canadian Solar's website at www.canadiansolar.com, or by clicking the following hyperlink: http://edge.media-server.com/m/p/qcm44x4z. A replay of the call will be available 4 hours after the conclusion of the call until 9:00 a.m. on Friday August 26, 2016, U.S. Eastern Daylight Time (9:00 p.m., August 26, 2016 in Hong Kong) and can be accessed by dialing +1 855 452 5696 (toll-free from the U.S.), +852 3051 2780 (local dial-in from HK) or +1 646 254 3697 from international locations, with passcode 40195616. A webcast replay will also be available at www.canadiansolar.com. About Canadian Solar Inc. Founded in 2001 in Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 14 years, Canadian Solar has successfully delivered over 15 GW of premium quality modules to over 90 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the company, visit the Company's website or follow Canadian Solar on LinkedIn. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/canadian-solar-schedules-second-quarter-2016-earnings-conference-call-300306735.html SOURCE Canadian Solar Inc. Ed Job, CFA, Director of Investor Relations, Canadian Solar Inc., investors@canadiansolar.com; or David Pasquale, Global IR Partners, +1-914-337-8801, csiq@globalirpartners.com
  2. Forty percent growth in distributions per unit from the prior-year comparable period, reflecting strong contributions from acquisitions and excellent operating performance Expanded contracted renewables generation portfolio through the acquisition of the Cedar Bluff and Golden Hills Wind Energy Centers Increased quarterly distribution to $0.33 per common unit JUNO BEACH, Fla. - NextEra Energy Partners, LP (NYSE: NEP) today reported second-quarter 2016 net income attributable to NextEra Energy Partners of $8 million. NextEra Energy Partners also reported second-quarter 2016 adjusted EBITDA of $156 million. For the second quarter of 2016, cash available for distribution (CAFD) before debt service payments was $120 million and after debt service payments was $65 million. NextEra Energy Partners' management uses adjusted EBITDA and CAFD, which are non-GAAP financial measures, internally for financial planning, analysis of performance and reporting of results to the board of directors of its general partner. NextEra Energy Partners also uses these measures when communicating its financial results and earnings outlook to analysts and investors. The attachments to this news release include a reconciliation of historical adjusted EBITDA and CAFD to net income, which is the most directly comparable GAAP measure. "NextEra Energy Partners' 40 percent growth in distributions per unit from the prior-year comparable period reflects strong contributions from acquisitions, as well as excellent operating performance," said Jim Robo, chairman and chief executive officer. "We continue to execute on the partnership's growth plan and recently completed the acquisition of approximately 285 megawatts of wind generation from our sponsor, NextEra Energy Resources, by using a combination of debt and cash on hand to finance the transaction. The addition of these two high-quality wind projects further advances our already strong and flexible financial position for the year and will provide an attractive yield to our investors. For the balance of the year, we remain on target to achieve our growth expectations." In early July, NextEra Energy Partners completed the acquisition of approximately 285 megawatts (MW) of contracted renewables projects from a subsidiary of NextEra Energy Resources, LLC. Included in the acquisition were two modern wind facilities, both of which are fully contracted under long-term power purchase contracts with strong creditworthy counterparties and remaining contract lives of approximately 20 years. Cedar Bluff Wind Energy Center is an approximately 199-MW facility located in Kansas. Golden Hills Wind Energy Center is an approximately 86-MW facility located in California. The acquisition expanded the contracted renewable energy projects in NextEra Energy Partners’ portfolio to approximately 2,656 MW (excluding ownership interests in equity method investments). NextEra Energy Partners acquired the assets for a total consideration of approximately $312 million, plus the assumption of approximately $253 million in liabilities related to tax equity financing. The purchase price is subject to working capital and other adjustments. The partnership financed the transaction, in part, through proceeds of an issuance of a $100 million non-amortizing term loan at the holding company, with the balance of the purchase price funded with cash on hand and through a draw under a subsidiary of NextEra Energy Partners’ revolving credit facility. Increases quarterly distribution On July 26, 2016, the board of directors of the general partner of NextEra Energy Partners declared a quarterly distribution of $0.33 per common unit (corresponding to an annualized rate of $1.32 per common unit) to the unitholders of NextEra Energy Partners. With the declaration, the distribution has grown 40 percent on an annualized basis from the second quarter of 2015. The distribution will be payable on Aug. 12, 2016, to unitholders of record as of Aug. 4, 2016. Outlook From a base of its fourth-quarter 2015 distribution per common unit at an annualized rate of $1.23, NextEra Energy Partners continues to expect 12 to 15 percent per year growth in limited partner distributions through 2020. The partnership expects the annualized rate of the fourth-quarter 2016 distribution, which is payable in February 2017, to be in the range of $1.38 to $1.41 per common unit. NextEra Energy Partners now expects a Dec. 31, 2016, run rate for adjusted EBITDA of $670 million to $760 million and CAFD of $230 million to $290 million, reflecting calendar year 2017 expectations for the forecasted portfolio at year-end Dec. 31, 2016. These expectations are net of expected IDR fees, as these fees are expected to be treated as an operating expense. As previously announced, NextEra Energy Partners' second-quarter 2016 conference call is scheduled for 9 a.m. ET today. Also discussed during the call will be second-quarter 2016 financial results for NextEra Energy, Inc. (NYSE: NEE). The listen-only webcast will be available on the website of NextEra Energy Partners by accessing the following link: www.NextEraEnergyPartners.com/Earnings. The news release and the slides accompanying the presentation may be downloaded at www.NextEraEnergyPartners.com/Earnings, beginning at 7:30 a.m. ET today. A replay will be available for 90 days by accessing the same link as listed above. NextEra Energy Partners, LP NextEra Energy Partners, LP (NYSE: NEP) is a growth-oriented limited partnership formed by NextEra Energy, Inc. (NYSE: NEE) to acquire, manage and own contracted clean energy projects with stable, long-term cash flows. Headquartered in Juno Beach, Fla., NextEra Energy Partners owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. The renewable energy projects are fully contracted, use industry-leading technology and are located in regions that are favorable for generating energy from the wind and sun. The seven natural gas pipelines in the portfolio are all strategically located, serving power producers and municipalities in South Texas, processing plants and producers in the Eagle Ford Shale, and commercial and industrial customers in the Houston area. The NET Mexico Pipeline, the largest pipeline in the portfolio, provides a critical source of natural gas transportation for low-cost, U.S.-sourced shale gas to Mexico. For more information about NextEra Energy Partners, please visit: www.NextEraEnergyPartners.com.
  3. BEIJING, July 25, 2016 /PRNewswire/ -- JA Solar Holdings Co., Ltd. (JASO) ("JA Solar"), one of the world's largest manufacturers of high-performance solar power products, today announced that as of middle of July this year, the company's shipments of monocrystalline PV products over the last ten years had totaled 7GW. The strong shipment performance is the result of JA Solar's unremitting commitment to the development of higher-efficiency solar products. JA Solar was founded in 2005, and started production in March 2006. The company focuses on the research and development of monocrystalline cell products, and has accumulated rich experience in the area. Since 2010, JA Solar has been one of the world's leading solar cell producers and the largest P-type monocrystalline cell manufacturer. The world-class cell technologies enable JA Solar to manufacture PV modules with high conversion efficiency, high power output and high reliability. After transforming its main business from cells to modules, JA Solar's shipments of monocrystalline modules reached 500MW in 2013, making the company the world's largest P-type monocrystalline module provider. In 2014, the company shipped more than 1GW of monocrystalline modules, and the figure for 2016 is expected to near 2GW. Percium, launched in October 2013 as a flagship product, is a high-efficiency monocrystalline module developed by JA Solar. Percium modules incorporate cells using Passivated Emitter and Rear Cell ("PERC") technology and JA's PERC cells have delivered continuous improvement in conversion efficiency over the past three years. In June 2014, volume production began for Percium high-efficiency cells, making JA Solar the industry leader in furnishing an average conversion efficiency of over 20% for a mass-produced P-type cell. Percium family products now have average conversion efficiencies of up to 21%; the average power output of 60-cell modules exceeds 295W, and that of 72-cell modules exceeds 345W. Percium modules feature better low-light performance, a lower temperature coefficient, lower light attenuation, and better PID resistance. For comparison, they generate 2% more electricity per rated "watt" than conventional monocrystalline modules. In 2015, China launched an initiative, the "Front Runner" project, with the aim of bringing about a transformation of the PV industry and driving the industry to develop higher efficiency and lower cost per watt products. This undoubtedly provides a significant growth opportunity for JA Solar. As one of the few manufacturers in China that have the capacity to mass-produce high-efficiency monocrystalline PV modules, JA Solar provided 422MV modules for the national advanced PV technology demonstration project in Datong, Shanxi province, including 303MW monocrystalline modules. The first phase of the project has a total installed capacity of 1GW, for which JA Solar is providing 42% of modules needed, with monocrystalline modules accounting for more than 30% of the project's total. In addition, JA Solar produces five types of PV modules that meet or exceed China's "Front Runner" standards. "JA Solar is one of the monocrystalline PV products manufacturers with the longest history, and is also the largest P-type monocrystalline modules provider in the world," said Mr. Jian Xie, President of JA Solar. "Reaching the shipments of 7GW monocrystalline modules demonstrates consumers' confidence in the quality of such products and the popularity of our high-efficiency products on the market. As the trend of monocrystalline module recovers in China, we intend to further bolster our track record of innovations in technology, with the goals of better conversion efficiency and improved manufacturing processes. JA Solar is proud to play a key role in the transformation and improvement of China's PV and manufacturing sectors." To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ja-solar-reaches-important-milestone-monocrystalline-pv-product-shipments-total-7gw-over-last-decade-300303765.html
  4. BETHESDA, Md., July 26, 2016 (GLOBE NEWSWIRE) -- TerraForm Power, Inc. (TERP) (“the Company”), an owner and operator of clean energy power plants, at the request of certain of its bondholders, has posted a presentation on its website today containing selected financial information. This presentation contains preliminary unaudited financial information for the fourth quarter of 2015 and first quarter of 2016. The financial information may change materially as a result of the completion of the audit of the Company’s financial results for fiscal year 2015. The information does not represent a complete picture of the Company’s financial position, results of operations or cash flows and is not a replacement for full financial statements prepared in accordance with U.S. GAAP. TerraForm Power has also posted an updated disclosure addressing risk factors relating to the Company’s business. The risk factors update the discussion of risks included in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2014, and in its Form 10-Q for the period ended September 30, 2015, which contains the Company’s most recent published interim financial statements. The financial information and risk factors may be found on the Investor section of the Company’s website at www.terraformpower.com. They have also been included as exhibits to a Form 8-K furnished by the Company to the Securities and Exchange Commission. About TerraForm Power TerraForm Power is a renewable energy company that is changing how energy is generated, distributed and owned. TerraForm Power creates value for its investors by owning and operating clean energy power plants. For more information about TerraForm Power, please visit: www.terraformpower.com. Cautionary Note Regarding Forward-Looking Statements This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. These statements involve estimates, expectations, projections, goals, assumptions, known and unknown risks, and uncertainties and typically include words or variations of words such as “expect,” “anticipate,” “believe,” “intend,” “plan,” “seek,” “estimate,” “predict,” “project,” “goal,” “guidance,” “outlook,” “objective,” “forecast,” “target,” “potential,” “continue,” “would,” “will,” “should,” “could,” or “may” or other comparable terms and phrases. All statements that address operating performance, events, or developments that TerraForm Power expects or anticipates will occur in the future are forward-looking statements. They may include estimates of expected adjusted EBITDA, cash available for distribution (CAFD), earnings, revenues, capital expenditures, liquidity, capital structure, future growth, financing arrangement and other financial performance items (including future dividends per share), descriptions of management’s plans or objectives for future operations, products, or services, or descriptions of assumptions underlying any of the above. Forward-looking statements provide TerraForm Power’s current expectations or predictions of future conditions, events, or results and speak only as of the date they are made. Although TerraForm Power believes its respective expectations and assumptions are reasonable, it can give no assurance that these expectations and assumptions will prove to have been correct and actual results may vary materially. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, our relationship with SunEdison, including SunEdison’s bankruptcy filings and our reliance on SunEdison to perform under material intercompany agreements and to provide management and accounting services, project level operation and maintenance and asset management services, to maintain critical information technology and accounting systems and to provide our employees; our ability to integrate the projects we acquire from third parties or otherwise realize the anticipated benefits from such acquisitions; actions of third parties, including but not limited to the failure of SunEdison, to fulfill its obligations; price fluctuations, termination provisions and buyout provisions in offtake agreements; delays or unexpected costs during the completion of projects under construction; our ability to successfully identify, evaluate, and consummate acquisitions from SunEdison or third parties or changes in expected terms and timing of any acquisitions; regulatory requirements and incentives for production of renewable power; operating and financial restrictions under agreements governing indebtedness; the condition of the debt and equity capital markets and our ability to borrow additional funds and access capital markets; the impact of foreign exchange rate fluctuations; our ability to compete against traditional and renewable energy companies; hazards customary to the power production industry and power generation operations, such as unusual weather conditions and outages or other curtailment of our power plants; departure of some or all of SunEdison’s employees that are dedicated to the Company; pending and future litigation; and our ability to operate our business efficiently, to operate and maintain our information technology, technical, accounting and generation monitoring systems, to manage and complete governmental filings on a timely basis, and to manage our capital expenditures. Furthermore, any dividends are subject to available capital, market conditions, and compliance with associated laws and regulations. Many of these factors are beyond TerraForm Power’s control.
  5. TerraForm Power, TerraForm Global and SunEdison Working Collaboratively to Explore Potential Value Creation Options for SunEdison’s Interests in the Yieldcos BETHESDA, Md., July 25, 2016 TerraForm Power, Inc. (the “Company” or “TerraForm Power”) (Nasdaq:TERP) today announced that its Board of Directors has adopted a Stockholder Protection Rights Agreement (the “Rights Agreement”) and declared a dividend of one Right on each outstanding share of the Company’s Class A Common Stock. The record date to determine which stockholders are entitled to receive the Rights is August 4, 2016. Peter Blackmore, Chairman and Interim CEO of TerraForm Power, said, “The Rights Agreement was adopted in response to the potential sale of a significant equity stake in TerraForm Power by SunEdison and the announced accumulation of TerraForm Power Class A shares by entities affiliated with Brookfield Asset Management. The TerraForm Power Board of Directors believes it is in the best interests of all TerraForm Power stockholders for acquisition proposals for all or a portion of the TerraForm Power equity interests to be able to emerge in an environment free of a blocking position accumulated by possible bidders.” TerraForm Power and TerraForm Global (Nasdaq:GLBL), in collaboration with SunEdison (OTC PINK:SUNEQ), are working together to explore potential value creating options for SunEdison’s interests in both companies. The independent directors of TerraForm Power and TerraForm Global have determined that it is in the best interests of their respective Class A stockholders for any potential SunEdison transaction to achieve a strong valuation, including because a sale that includes Class A shares may emerge and be in the best interests of all stockholders. Mr. Blackmore continued, “The Conflicts Committees of the Boards of Directors of TerraForm Power and TerraForm Global have approved the companies to work cooperatively with SunEdison and focus on increasing value for all stockholders in this process. TerraForm Power and TerraForm Global have important interests at stake in connection with these sales and the companies will take actions that it believes are in the best interests of its stockholders.” Rights Plan Terms Until the earlier of (i) the Company’s announcing that a person or group (an “Acquiring Person”) has acquired beneficial ownership of 15% or more of the Class A Common Stock (the “Flip-in Date”) and (ii) the tenth business day, or such later date designated by the Board of Directors, after any person or group commences a tender offer that will result in such person or group beneficially owning 15% or more of the Class A Common Stock, the Rights will be evidenced by the Class A Common Stock certificates, will automatically trade with the Class A Common Stock and will not be exercisable. Thereafter, separate Rights certificates will be distributed and each Right will entitle its holder to purchase fractions of Participating Preferred Stock having economic and voting terms similar to those of one share of Class A Common Stock for an exercise price of $40. Upon the occurrence of the Flip-in Date, each Right (other than Rights beneficially owned by any Acquiring Person or transferees thereof, which Rights become void) will be automatically exchanged for one share of Class A Common Stock, unless the Board of Directors, with the prior written approval of holders of a majority of the shares of Class B Common Stock, determines otherwise or the Acquiring Person beneficially owns more than 50% of the Company’s Class A Common Stock. If the Board determines, with the prior written approval of holders of a majority of the shares of Class B Common Stock, not to effect the exchange, each Right (other than the voided ones) will entitle its holder to purchase, for the exercise price, a number of shares of the Class A Common Stock having a market value of twice the exercise price. Also, if after an Acquiring Person controls the Company’s Board of Directors or is the owner of 50% or more of the Class A Common Stock, the Company is involved in a merger or sells more than 50% of its assets or earning power or is involved with an Acquiring Person in certain “self-dealing” transactions and, in the case of a merger, the Acquiring Person will receive different treatment than all other stockholders or the transaction is with the Acquiring Person, each Right will entitle its holder to purchase, for the exercise price, a number of shares of common stock of the Acquiring Person (or other party to the transaction) having a market value of twice the exercise price. The Rights may generally be redeemed by the Board of Directors for $0.01 per Right prior to the Flip-in Date. In response to a Qualified Offer, the Stockholder Protection Rights Agreement also provides stockholders with the right to request that the Board of Directors call a special meeting of stockholders to vote on a resolution authorizing the redemption of the Rights by submitting written notice to the Board of Directors executed by, or on behalf of, the holders of at least 10% of the shares of Class A Common Stock or of the voting power of the shares of Common Stock, not giving effect to any affirmative votes cast by the offeror or any of its Affiliates or Associates. The Rights will be redeemed (or the Board of Directors shall take such other action as would prevent the existence of the Rights from interfering with the consummation of the Qualified Offer) if the holders of at least a majority of the voting power of the shares of Common Stock and a majority of the shares of Class A Common Stock outstanding, not giving effect to any affirmative votes cast by the offeror or any of its Affiliates or Associates, vote in favor of the resolution authorizing the redemption at the special meeting or if a special meeting has not been held 90 business days after notice is received by the Board of Directors (unless the meeting is not held because of the absence of a quorum due to the failure of SunEdison, Inc. (“SunEdison”) to be present). The Rights Agreement expires immediately prior to the sale by SunEdison, directly or indirectly, of all or substantially all of the shares of Common Stock beneficially owned by SunEdison. Any issuance of shares of Class A Common Stock as a result of any exchange, exercise or redemption of Rights in accordance with the terms of the Rights Agreement will be accompanied by the issuance to the Company of an equal number of Class A Units in TerraForm Power, LLC (“Terra LLC”) in accordance with the Amended and Restated Limited Liability Company Agreement for Terra LLC (the “LLC Agreement”). Upon any such issuance of Class A Units, an equitable adjustment will be made in accordance with the terms of the LLC Agreement to protect the Class B Units in Terra LLC from dilution. The adjustment will be made by issuing additional Class B Units in Terra LLC to holders of then existing Class B Units according to an anti-dilution formula set forth in an amendment to the LLC Agreement adopted in connection with the Rights Agreement. Simultaneously with the issuance of additional Class B Units in Terra LLC, the Company will issue an equal number of shares of Class B Common Stock to the recipients of such additional Class B Units. The Rights Agreement does not in any way weaken TerraForm Power’s financial strength or interfere with its business plans. The issuance of the Rights has no dilutive effect, will not affect reported earnings per share, is not taxable to TerraForm Power or its stockholders and will not change the way in which TerraForm Power’s shares are traded. A letter to stockholders regarding the Rights Agreement and a Summary of certain terms of the Rights Agreement will be mailed to stockholders. The companies noted that no decision has been made and that there can be no assurance that the Board's exploration of alternatives will result in any transaction being entered into or consummated. TerraForm Global and TerraForm Power do not intend to discuss or disclose developments with respect to this process until the Board has approved a definitive course of action. TerraForm Power is a publicly held company whose shares of Class A Common Stock are listed on the NASDAQ Stock Market under the ticker symbol TERP. About TerraForm Power TerraForm Power is a renewable energy company that is changing how energy is generated, distributed and owned. TerraForm Power creates value for its investors by owning and operating clean energy power plants. For more information about TerraForm Power, please visit: www.terraformpower.com. About TerraForm Global TerraForm Global is a renewable energy company that is changing how energy is generated, distributed and owned. TerraForm Global creates value for its investors by owning and operating clean energy power plants in high-growth emerging markets. For more information about TerraForm Global, please visit: www.terraformglobal.com. Cautionary Note Regarding Forward-Looking Statements This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. These statements involve estimates, expectations, projections, goals, assumptions, known and unknown risks, and uncertainties and typically include words or variations of words such as “expect,” “anticipate,” “believe,” “intend,” “plan,” “seek,” “estimate,” “predict,” “project,” “goal,” “guidance,” “outlook,” “objective,” “forecast,” “target,” “potential,” “continue,” “would,” “will,” “should,” “could,” or “may” or other comparable terms and phrases. They include, without limitation, statements related to the possibility that a sale may emerge that includes the Class A shares; the future workings or mechanisms of the Rights Agreement; the potential redemption of the Rights by the Board of Directors; the issuance by TerraForm Power or Terra LLC of any Class A Shares, Class A Units, Class B Shares or Class B Units; the Rights Agreement’s effect on TerraForm Power’s reported earnings per share or the way in which TerraForm Power’s shares are traded; TerraForm Power mailing a letter to stockholders; and TerraForm Power’s intention not to discuss or disclose developments until the Board of Directors has approved a definitive course of action. The risks included above are not exhaustive. Other factors that could adversely affect our business and prospects are described in the filings made by us with the Securities and Exchange Commission. TerraForm Power undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. Contacts: Investors: Brett Prior TerraForm Power bprior@terraform.com (650) 889-8628 Media: Meaghan Repko / Joseph Sala / Nicholas Leasure Joele Frank, Wilkinson Brimmer Katcher (212) 355-4449
  6. This Term Sheet contains certain understandings relating to the terms on which Brookfield Asset Management Inc. and its affiliates (collectively, “Brookfield”) and Appaloosa LP (“Appaloosa”) will engage in discussions with respect to the transactions described herein. Neither Brookfield nor Appaloosa (nor any of its affiliates) shall have any obligation, express or implied, to propose or complete any transaction, or to enter into a Definitive Agreement, and any such person or entity may at any time, and for any reason or no reason at all, and without any liability, determine not to pursue or proceed with any transaction. This Term Sheet supersedes and replaces any prior term sheet or discussions regarding the transactions described herein or any other potential transaction involving the parties hereto. Structure; Ownership: The parties intend to enter into a binding support agreement (the “Definitive Agreement”) setting forth the terms and conditions under which each party will agree to (i) support and cooperate with one another to acquire all of the equity interests currently held by SunEdison, Inc. (the “SUNE Shares”) in Terraform Power, Inc. and its subsidiaries (“TERP”), and (ii) subject all of their shares of TERP common stock (which do not include any TERP shares that may be held by counterparties to cash-settled total return swap agreements or similar derivative transactions) now owned or hereafter acquired, including the SUNE Shares (collectively, “TERP Shares”), to certain restrictions, including those described herein. The parties expect that Brookfield and Appaloosa will each acquire a mutually agreed upon percentage of the SUNE Shares. The parties acknowledge that the acquisition of the SUNE Shares by each party will be structured in a manner that (i) satisfies any applicable regulatory requirements and (ii) preserves and maximizes tax efficiencies for such party, as determined by such party in its sole and absolute discretion. Exclusivity: In consideration of the time and expense associated with exploring the transactions contemplated hereby and with the preparation of the Definitive Agreement, each party hereto, on its own behalf and on behalf of its officers, directors, equity owners, agents, representatives and controlled affiliates, agrees, for a period commencing on the date of this Term Sheet and expiring 90 days thereafter (or such other period agreed upon by the parties in writing) (the “Exclusivity Period”), not to negotiate or accept proposals from other persons or entities regarding one or more transactions that are comparable to the transactions provided for in this Term Sheet. Transfer Restrictions: From the date of this Term Sheet until the end of the Exclusivity Period neither party shall transfer, sell, dispose of, pledge or assign (whether directly, indirectly, voluntarily, involuntarily, by operation of law or otherwise) any of its TERP Shares unless in accordance with the terms of the right of first offer set out in this Term Sheet or with the prior approval of the other party; provided, however, that either party may transfer some or all of its TERP Shares to a controlled affiliate. Right of First Offer: If, during the Exclusivity Period, either Brookfield or Appaloosa (the “ROFO Seller”) wishes to transfer, sell, dispose of, pledge or assign (whether directly, indirectly, voluntarily, involuntarily, by operation of law or otherwise) any of its TERP Shares (“TERP Sale Shares”) it must first give a written notice (a “TERP Sale Notice”) to the other party (the “ROFO Purchaser”) offering the ROFO Purchaser the right to acquire in whole or in part such TERP Sale Shares for a cash purchase price equal to the volume-weighted average price for TERP’s Class A shares over the 5 consecutive NASDAQ global select market trading days immediately preceding and ending on the most recent trading day ended prior to the date of such TERP Sale Notice (the “ROFO Price”). If the ROFO Purchaser wishes to exercise this right of first offer with respect to TERP Sale Shares, it must elect to do so by written notice to the ROFO Seller by close of business on the 1st trading day after the date on which the ROFO Purchaser receives a TERP Sale Notice with respect to such TERP Sale Shares (an “Election Notice”). Failure to make such election will be deemed to be an election to not purchase the TERP Sale Shares specified in a TERP Sale Notice. If the ROFO Purchaser elects to purchase TERP Sale Shares, the ROFO Seller must sell, and the ROFO Purchaser must purchase, the TERP Sale Shares by payment of the ROFO Price by the close of business on the 3rd trading day after the date on which the ROFO Seller receives the relevant Election Notice. If the ROFO Purchaser does not elect to purchase the TERP Sale Shares specified in a TERP Sale Notice, the ROFO Seller may sell such TERP Sale Shares in one or more open market transactions during the 14-day period commencing on the latest date on which the ROFO Purchaser could have delivered an Election Notice with respect to such TERP Sale Shares. If such TERP Sale Shares are not sold within such period, the right of first offer process described above shall apply to any transfer of such TERP Sale Shares. Amendments: This Term Sheet can only be amended with the approval of both Brookfield and Appaloosa. Confidentiality: Each of the parties shall keep its dealings with the other party (or any other entity controlled by the other party) as described herein and all other details of the proposed transactions described herein strictly confidential (collectively, the “Confidential Information”). Confidential Information shall not include any information otherwise in the public domain, and Confidential Information may be disclosed by any party if such party is required by law, regulation or stock exchange requirement or any legal or regulatory authority to disclose the Confidential Information. In addition, the Confidential Information may be disclosed by a party to its attorneys, accountants, consultants, agents, advisors, prospective lenders and investors and potential investors and other persons that reasonably need to know such information (the “Representatives”) so long as each such party is informed of the foregoing confidentiality requirement. Each of the parties shall be responsible for any breach of this Confidentiality provision by any of its Representatives, as though a direct signatory hereto. Nothing herein shall prevent any party from making any required securities filings. Expenses: Each of Brookfield and Appaloosa shall bear its own expenses in connection with the negotiation and execution of this Term Sheet, the Definitive Agreement and the documents and filings ancillary thereto. Governing Law; Jurisdiction: This Term Sheet will be governed by and construed in accordance with the laws of the State of New York (without regard to its conflicts of law rules). The state and federal courts located in New York County, New York shall have exclusive jurisdiction over any disputes relating to this Term Sheet. Each party irrevocably and unconditionally waives any objection to the laying of venue of any action, suit or proceeding arising out of this Term Sheet or the transactions contemplated hereby in the courts, and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum. Each party agrees to waive, to the fullest extent permitted by applicable law, any right it may have to a trial by jury in respect of any litigation directly or indirectly arising out of, under or in connection with this Term Sheet or the transactions contemplated hereby. Binding Effect: Except for the clause opposite the heading “Structure; Ownership”, the provisions of this Term Sheet are intended to be binding on the parties.
  7. SAN FRANCISCO, July 22, 2016 attern Energy Group Inc. (PEGI) (PEG.TO), today announced that it will release its second quarter 2016 financial results on Friday, August 5, 2016, prior to market open. The Company will subsequently hold a conference call that same day, Friday, August 5, 2016, at 10:30 am Eastern Time hosted by Mr. Michael Garland, President and Chief Executive Officer, and Mr. Michael Lyon, Chief Financial Officer. A question and answer session will follow the corporate update. A link to the live audio webcast of the conference call will also be available on the events page of the investors section of Pattern Energy's website at www.patternenergy.com. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to hear the webcast. An archived webcast will be available for one year. About Pattern Energy Pattern Energy Group Inc. is an independent power company listed on The NASDAQ Global Select Market and Toronto Stock Exchange. Pattern Energy has a portfolio of 17 wind power facilities, including one it has agreed to acquire, with a total owned interest of 2,554 MW in the United States, Canada and Chile that use proven, best-in-class technology. Pattern Energy's wind power facilities generate stable long-term cash flows in attractive markets and provide a solid foundation for the continued growth of the business. For more information, visit www.patternenergy.com. Contacts: Media Relations Investor Relations Matt Dallas Ross Marshall 917-363-1333 416-526-1563 matt.dallas@patternenergy.com ross.marshall@loderockadvisors.com
  8. PRINCETON, N.J.NRG Yield, Inc. (NYSE: NYLD, NYLD.A) plans to present its Second Quarter 2016 financial results in a conference call and webcast to be held Tuesday, August 9, 2016 at 11:00 am Eastern following the NRG Energy (NYSE:NRG) earnings call scheduled for 9:00 am Eastern the same day. A live webcast of the conference call, including presentation materials, can be accessed through NRG Yield’s website at http://www.nrgyield.com and clicking on “Presentations & Webcasts.” The webcast will be archived on the site for those unable to listen in real time. About NRG Yield NRG Yield owns a diversified portfolio of contracted renewable and conventional generation and thermal infrastructure assets in the U.S., including fossil fuel, solar and wind power generation facilities that provide the capacity to support more than two million American homes and businesses. Our thermal infrastructure assets provide steam, hot water and/or chilled water, and in some instances electricity, to commercial businesses, universities, hospitals and governmental units in multiple locations. NRG Yield’s Class C and Class A common stock are traded on the New York Stock Exchange under the symbols NYLD and NYLD.A, respectively. Visit nrgyield.com for more information. Contacts NRG Yield, Inc. Media: Marijke Shugrue 609.524.5262 or Investors: Kevin Cole, CFA 609.524.4526 or Lindsey Puchyr 609.524.4527
  9. Smart Grid companies receive $222 million; Battery/Storage companies receive $125 million; Energy Efficiency companies raise $86 million Austin, TX – July 19, 2016 - Mercom Capital Group, llc, a global clean energy communications and consulting firm, released its report on funding and mergers and acquisitions (M&A) activity for the Smart Grid, Battery/Storage and Energy Efficiency sectors for the second quarter of 2016. Smart Grid Venture capital (VC) funding (including private equity and corporate venture capital) for Smart Grid companies doubled with $222 million in 15 deals compared to $110 million in 14 deals in Q1 2016. Year-over-year (YoY) funding also doubled compared to Q2 2015 when $104 million was raised in 18 deals. Image: Smart Grid VC Funding Q2 2015 - Q2 2016 The top VC funded Smart Grid related technology companies included Vivint Smart Home, which raised $100 million from tech investor Peter Thiel and investment firm Solamere Capital; ChargePoint, which raised $50 million from Linse Capital, Braemar Energy Ventures, Constellation Energy, Statoil Energy Ventures, Envision Ventures, Jan Klatten, Michael Liebreich, and Rick Wagoner; AutoGrid Systems, which raised $20 million from a consortium of global investors including Energy Impact Partners, Envision Ventures, Envision Energy and E.ON; Origami Energy, which brought in $19.5 million from Cambridge Innovation Capital, Octopus Ventures, and Fred Olsen-related companies; and lastly Comfy secured $12 million in funding from Emergence Capital, CBRE Group, Microsoft Ventures, Claremont Creek Ventures, and Westly Group. Image: Smart Grid Top 5 VC Funded Companies in Q2 2016 There were 46 VC investors that participated in Smart Grid deals in Q2 2016 compared to 22 in Q1 2016. Smart Grid Communication technologies, including Home Automation, had the largest share of VC funding with $123 million, a substantial increase from the $31 million raised in four deals in Q1 2016. There was one debt financing deal announced in the second quarter of 2016 for $3 million, compared to $214 million in two debt & public market financing deals in the previous quarter. There were three M&A transactions for Smart Grid technologies in Q2 2016 (one disclosed) compared to two transactions (one disclosed) in Q1 2016. Battery/Storage VC funding for Battery/Storage companies doubled with $125 million in 10 deals in Q2 2016 compared to $54 million in 10 deals in the previous quarter. Year-over-year funding in Q2 2016 was in line with Q2 2015, which had $126 million in 13 deals. VC funding in Q2 2016 was spread across six Battery/Storage sub-technologies: lithium-ion batteries, sodium-based batteries, energy storage systems, lead-based batteries, energy storage management software and thermal energy storage. The Top 5 Battery/Storage VC funding deals were: Nexeon with $43.3 million from PUK Ventures, Imperial Innovations, Invesco Perpetual, Wacker Chemie and Woodford Investment Management; Aquion Energy with $33 million; Stem with $15 million from Mithril Capital Management, Greenvision Technologies (brand name Relicell) with $8 million from Vintage Energy & Resources; and Silatronix with $8 million from Hitachi Chemical and Inabata. Image: Battery/Storage Top 5 VC Funded Companies in Q2 2016 Twenty investors participated in Battery and Storage funding in Q2 2016 compared to eight in Q1 2016. Lithium-ion Battery companies raised the most funding with $51.3 million in three deals. Announced debt and public market financing for Battery/Storage technologies came to $65 million in two deals in the second quarter of 2016, compared to $28.5 million in two deals in Q1 2016. Plug Power and FuelCell Energy closed on a long-term loan facility for $40 million and $25 million respectively with Hercules Capital.   There were four M&A transactions for Battery/Storage companies in Q2 2016 two of which disclosed financial details. In Q1 2016, there were two M&A transactions, neither disclosed transaction details. The largest M&A deal in the second quarter of 2016 was the $1.1 billion acquisition of Saft by Total. Efficiency There was a sharp decline in VC funding for Energy Efficiency technology companies in Q2 2016 with $86 million in nine deals compared to $211 million in 14 deals in Q1 2016. In a YoY comparison, VC funding for Efficiency companies in Q2 2015 was $211 million with twice as many deals with 18. The top VC funded company in Q2 2016 was Thermondo which raised over $25.6 million in funding from: Global Founders Capital, E.ON, Holtzbrinck Ventures, IBB, and Picus Capital, followed by tado° which raised $23 million in funding from Inven Capital, Electric Imp which raised $21 million in funding from Rampart Capital and Redpoint Ventures and Kyulux which raised $13.5 million from Samsung Venture Investment, Samsung Display, LG Display, Japan Display, JOLED, top tier Japanese venture capital funds and a Japanese government affiliated venture fund. Eighteen investors participated in Energy Efficiency VC deals in Q2 2016 compared to 31 in the previous quarter. Image: Energy Efficiency Top VC Funded Companies in Q2 2016 Announced debt and public market financing in the Efficiency category peaked in the second quarter of 2016 with $1.75 billion in seven deals. In Q1 2016 there were two debt deals for $238 million. There was one initial public offering (IPO) in the Efficiency category by Philips Lighting, which accounted for $959 million. In Q2 PACE Financing totaled $762 million including $512 million in PACE Securitization deals from three transactions. Top deals included the $305.3 million raised by Renovate America, through its seventh securitization of PACE bonds; $250 million credit facility secured by Ygrene Energy Fund to support the expansion of its PACE program investments and $123 million raised by Renew Financial through its second securitization of residential PACE bonds. M&A transactions in the Efficiency sector doubled in the second quarter of 2016 with seven transactions (three disclosed) compared to three transactions in Q1 2016 of which only one disclosed details. The top deal was the $532 million acquisition of Opower by Oracle. Another notable deal was the merger of Dividend Solar and Figtree Financing. To get a copy of the report, visit: http://store.mercom.mercomcapital.com/q2-2016-smart-grid-energy-storage-efficiency-funding-and-ma-executive-summary/ About Mercom Capital Group Mercom Capital Group, llc, is a global communications and research and consulting firm focused on cleantech. Mercom delivers market intelligence and funding and M&A reports covering Smart Grid, Battery/Storage & Energy Efficiency, and Solar and advises companies on new market entry, custom market intelligence and strategic decision-making. Mercom's communications division helps companies and financial institutions build powerful relationships with media, analysts, local communities, and strategic partners. About Mercom: http://www.mercomcapital.com.
  10. SHANGHAI, July 15, 2016JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced that its wholly owned subsidiary, JinkoSolar (U.S.) INC., has signed amendments to the credit agreement with Wells Fargo Capital Finance, a division of Wells Fargo Bank ("Wells Fargo") to increase its credit limit to $60 million from $40 million with a three year term. "This is the second time we have raised our credit limit with Wells Fargo in the past years," commented Mr. Charlie Cao, JinkoSolar's Chief Financial Officer. "We look forward to working closely with Wells Fargo to further expand our business in the U.S and across the globe." About JinkoSolar Holding Co., Ltd. JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 3.5 GW for silicon ingots and wafers, 3 GW for solar cells, and 6 GW for solar modules, as of March 31, 2016. JinkoSolar also sells electricity in China, and had connected approximately 1,007 MW of solar power projects to the grid, as of March 31, 2016. JinkoSolar has over 15,000 employees across its 5 productions facilities in Jiangxi and Zhejiang Provinces, China, Malaysia, Portugal and South Africa, 12 global sales offices in China, Spain, the United Kingdom, the United Arab Emirates, Jordan, Saudi Arabia, Egypt, Morocco, Ghana, Brazil, Costa Rica and Mexico and 11 oversea subsidiaries in Germany, Italy, Switzerland, the United States, Canada, Australia, Singapore, Japan, India, South Africa and Chile. To find out more, please see: www.jinkosolar.com Safe Harbor Statement This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. For investor and media inquiries, please contact: In China: Mr. Sebastian Liu JinkoSolar Holding Co., Ltd. Tel: +86 21-5183-3056 Email: ir@jinkosolar.com Mr. Christian Arnell Christensen, Beijing Tel: +86 10 5900 2940 Email: carnell@christensenir.com In the U.S.: Ms. Linda Bergkamp Christensen, Scottsdale, Arizona Tel: +1-480-614-3004 Email: lbergkamp@ChristensenIR.com To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/jinkosolar-us-inc-extends-credit-limit-with-wells-fargo-bank-300299279.html SOURCE JinkoSolar Holding Co., Ltd.
  11. GUELPH, Ontario, July 19, 2016Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that the company has introduced the new T4 Field-Installable PV Connector portfolio to the North American market. The T4 PV Connector is a high-quality field-installable PV connector manufactured by TLIAN, a subsidiary of Canadian Solar established in December 2014. The T4 Connector has been in production since May 2015, after being granted state-of-the-art double certification per IEC62852/UL6703 standards, with over 12 million connectors already deployed in field installations. The T4 Connector is certified for UL 1500V DC system voltage and has an IP68 rating for highest ingress protection for water / humidity - which increases the reliability and long-term stability of the connector significantly compared to the current industry-standard IP67 rating for connectors. In addition, the new Canadian Solar connector portfolio supports a broader operating temperature range of -40ºC~+90ºC to allow the usage in very hot climates such as the Middle East, Central America and others. The NEC-compliant locking mechanism secures against vandalism and against unplugging under load for maximum safety and protection. Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, said, "We are very pleased to introduce the T4 PV Connector portfolio and all related tools and accessories to the North American market. This high-quality, field-installable connector addresses our customers' need to have reliable and cost-effective connectors, complementing our 1500V DC system. With 12 million connectors already deployed in the field, the T4 PV Connector has proven itself as a reliable milestone further reducing overall PV system costs." About Canadian Solar Inc. Founded in 2001 in Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and a provider of solar energy solutions, Canadian Solar has a geographically diversified pipeline of utility-scale power projects. In the past 14 years, Canadian Solar has successfully shipped over 14 GW of premium quality modules in over 90 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publically listed on NASDAQ since 2006. For additional information about the company, follow Canadian Solar on Facebook, Twitter, LinkedIn, or on the website. Safe Harbor/Forward-Looking Statements Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include the risks regarding general business and economic conditions and the state of the solar industry; governmental support for the deployment of solar power; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as UK, Japan, the U.S. and China; changes in customer order patterns; changes in product mix; capacity utilization; level of competition; pricing pressure and declines in average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; continued success in technological innovations and delivery of products with the features customers demand; shortage in supply of materials including solar cell to replace lost production at the Funing solar cell plant during the plant rebuilding and recovery phase; ability to recover weather related damages to the Funing solar cell plant from insurance carriers ; availability of financing; exchange rate fluctuations; litigation and other risks as described in the Company's SEC filings, including its annual report on Form 20-F filed on April 20, 2016. Although the Company believes that the expectations reflected in the forward looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/canadian-solar-launches-new-field-installable-t4-pv-connector-for-faster-lower-cost-pv-installations-300300509.html SOURCE Canadian Solar Inc. Ed Job, CFA, Director, Investor Relations, Canadian Solar Inc., investors@canadiansolar.com; David Pasquale, Global IR Partners, +1-914-337-8801, csiq@globalirpartners.com