+ We are continually faced by great opportunities brilliantly disguised as insoluble problems. – Lee Iacocca
+ Since we cannot change reality, let us change the eyes which see reality. – Nikos Kazantzakis
INFRASTRUCTURE / P3
+ ATCO Group announced it is considering a large hydro project in northern Alberta; no details provided
+ Enbridge Inc. agreed to acquire 100% of New Creek Wind Project (103MW) in Grant County, West Virginia from EverPower Wind Holdings LLC for US$200 billion
+ Government of Alberta says renewable energy will power 30% of Alberta’s grid by 2030 ; no details yet on how much it will cost the government to compensate coal-fired power plant operators to shut down generation before plants have lived their economic life, or compensation of coal-dependent communities and industry workers … tic toc …
+ Infrastructure Ontario shortlisted three teams to design, build, finance and maintain the Highway 427 expansion project; 427 Link, Blackbird Infrastructure Group, Link 427. RFP documents will be issued in early 2016.
+ Peace River Hydro Partners/ACCIONA Infrastructure Canada’s consortium is the ‘preferred proponent’ selected by BC Hydro for the Site C Clean Energy Project, an earthfill dam, diversion tunnels, generating station and spillways near Fort St. John, BC; the project on the Peace River is estimated to have a capital cost of $8.3 billion
+ Alberta Securities Commission issued a Cease Trades order regarding Canadian Oil Sands (COS) 2015 Shareholder Rights Plan that was introduced to thwart Suncor’s takeover bid; COS claims this as a victory, allowing more time to find an alternate bidder … tic toc …
+ AltaGas Ltd. closed its US$642 acquisition of GWF Energy Holdings LLC
+ Forefront Advisors, Brickburn Asset Management and Finaniq formed a new partnership: Corporate Capital Solutions
+ KERN Group changed its name to Azimuth Capital Management
+ Kicking Horse Energy Inc. secured securityholder and court approval for its arrangement for ORLEN Upstream Canada Ltd. to takeover Kicking Horse
+ Kinder Morgan Inc. and Brookfield Infrastructure Partners LP agreed to acquire a 53% interest in Natural Gas Company of America LLC for US$242 million from Myria Holdlings Inc. to now own 50% each (Kinder Morgan and Brookfield)
+ Pembina Pipeline Corporation announced its 2016 CapEx Budget is $2.1 billion
+ Spyglass Resources Corp. ins in receivership; court order appointed Ernst & Young Inc. as receiver and manager
+ Toscana Energy Income Corporation agreed to acquire a portfolio of southern Alberta light oil assets for $15 million
+ TransCanada Corporation exited an Alaska LNG venture; Government of Alaska paid TransCanada US$64.6 million
+ Trilogy Energy Corp. closed its US$85 million Duvernay assets sale
+ YWCA of Calgary sold its property; a full city block at 320 – 5 Ave. SW to Toronto developer Great Gulf Group of Companies; terms not disclosed. YWCA will stay rent free for two years
THIS WEEK IN FINANCINGS
- proposed & closed
+ Americas Petrogas Inc. closed $500,000 equity financing
+ ATK Oilfield Transporation Inc. closed $6 million equity financing
+ Brookfield Renewable Energy Partners LP closed $175 million preferred unit financing
+ Tallgrass Energy Partners LP secured US$850 million credit facility
+ Westcoast Energy Inc. is on the market to raise $100 million in preferred share issues
CLIMATE CHANGE / LEED / RENEWABLE ENERGY
+ BOMA are revamping their BOMA Best program; impressive graphics, but it still seems like LEED-light to me … tic toc …
+ Jenny McMinn to VP @ BuildGreen Solutions
+ kudos to Oxford Properties Group – their Centennial Place achieved LEED Platinum for Existing Building: Operations & Maintenance
+ world leaders and experts have gathered in Paris for the United Nations organized COP21 conference in hopes of reaching consensus on climate change initiatives following failures of Copenhagen (six years ago) and Kyoto (13 years ago) conferences; once the major country leaders have exited the stage, the real work begins with a report or communique expected by mid-Dec. … tic toc …
INTERESTING REAL ESTATE NEWS, other places
+ Mirae Asset Global Investments acquired 538 room Fairmont San Francisco Hotel for US$450 million from Oaktree/Woodridge/Kingdom Holdings ownership group who acquired it in May 2012 for US$200 million – wow, that’s some lift!
+ InterRent REIT agreed to acquire Le Plateau-Mont-Royal (127 suites) in Montreal, for $21.6 million
+ InterRent REIT agreed to sell a Brampton property for $8.7 million
+ Pure Multi-Familiy REIT LP is on the market to raise US$35.1 million in equity
+ Robert Armstrong to CFO @ Slate Office REIT
+ Slate Office REIT agreed to sell two portfolios of 15 industrial and retail properties for $56.2 million
+ Summit Industrial REIT agreed to acquire a 50% interest in a three property portfolio of Montreal properties from the Montoni Group for $12 million
KUDOS
+ to the Sam and Betty Switzer Foundation – for their $500,000 donation to the National Music Centre’s Studio Bell, given in the memory of the late Calgary musician Ron Casat
+ to Michael Cleland, named Canadian Energy Person of the Year by Energy Council of Canada
+ Alberta Securities Commission issued a Cease Trades order regarding Canadian Oil Sands (COS) 2015 Shareholder Rights Plan that was introduced to thwart Suncor’s takeover bid; COS claims this as a victory, allowing more time to find an alternate bidder … tic toc …
