Thorndike Landing, LLC is a management consulting firm specializing in business, financial, market and transaction-related services for the energy industry. Our senior professionals have practical, hands-on experience with a wide array of issues affecting the energy industry gained from positions held at electric and natural gas utility companies, ”Big Four” accounting firms, diversified energy companies and international management consulting firms. Thorndike Landing specializes in the following areas:
- Financial Advisory
- Business Strategy
- Power and Commodities Markets
- Risk Advisory and Asset Portfolio Services
- Regulatory Economics and Litigation Support
Thorndike Landing provides services and expertise to a wide range of businesses and financial entities including electric and gas utility companies; generation entities; renewable energy companies focusing in wind, biomass, hydro, geothermal and solar generation; storage developers, electric transmission companies; natural gas pipeline companies; wholesale and competitive retail trading businesses; educational institutions; private equity firms; hedge funds and other financial institutions.
ContourGlobal Senior Secured Notes4>
LUXEMBOURG, June 17, 2016 /PRNewswire/ -- ContourGlobal Power Holdings S.A. (the "Issuer") today announced the closing of its previously announced private offering of €550 million aggregate principal amount of 5.125% senior secured notes due 2021 (the "Notes") to eligible purchasers. The Notes had received a 'BB' rating by Standard & Poor's and a 'BB-' rating by Fitch Ratings. (continues)
Yieldco PPA Level Analysis Update Set for May 24>
Thorndike Landing's Yieldco valuations will update early May 2016, following wind and solar production updates for the individual component plants. Contact us two weeks in advance to obtain the updates on a timely basis.
Vestas receives 40 MW order in U.S. state of Maine4>
Vestas has received a firm and unconditional order in the United States for 13 V112-3.075 MW turbines for the Passadumkeag wind farm in Penobscot County, Maine.
The order was placed by Passadumkeag Windpark, LLC, an affiliate of Thorndike Landing client Quantum Utility Generation, LLC.
EDF Renewable Energy First Battery Storage Project4>
EDF Renewable Energy (EDF RE) announced today that the McHenry Storage Project, EDF Group’s first battery storage project in North America, reached commercial operation on December 20, 2015. The energy storage system, located in McHenry County, Illinois, added 40 megawatts (MW) of flexible capacity (20 MW nameplate) to the PJM Regional Transmission Organization (RTO) and will participate in both the regulation and capacity markets.
EDF Renewable Energy had acquired a 100% interest in the project late in the first quarter of 2015 from Thorndike Landing client GlidePath Power.
NTE Secures Investment for Generation Projects4>
ST. AUGUSTINE, Fla. – NTE Energy, a power developer and energy services provider, has secured an investment for its three natural gas-fired power plants that are currently under development. This investment will allow NTE Energy to complete the development of these projects, valued at over $1.1 billion, and begin construction of all three projects next year.
Capital Dynamics and Wattage Finance, LLC, which is owned by a group of private investors and managed by an affiliate of Guggenheim Partners, LLC, will work with NTE Energy to finalize the development and prepare the three projects for construction financing. Projects include Middletown Energy Center, a 518 MW combined cycle power plant in Ohio, Kings Mountain Energy Center, a 475 MW combined cycle power plant in North Carolina, and Pecan Creek Energy Center, a 237 MW simple cycle power plant in Texas.
$107 Million Portfolio of Solar and Wind Land and Leases4>
Hannon Armstrong Sustainable Infrastructure Capital, Inc. acquires $107 Million Portfolio of Land and Leases for Solar and Wind Projects.
Structured as a purchase of Thorndike Landing client American Wind Capital Company, LLC with no debt, liabilities or employees. Existing employees and management will form a new company named AWCC Capital, LLC to originate additional transactions in which HASI has a right of first refusal to purchase additional transactions.
- Also Adds Additional $200 Million of Capacity to Credit Facility -
ContourGlobal Power Holding4>
Standard & Poors Ratings Services assigned its preliminary BB- rating to ContourGlobal Power Holdings S.A.s (CGPH) proposed $400 million senior secured bonds due in 2019. Thorndike Landing client ContourGlobal subsequently issued the 7.125% coupon bond in a private placement.
First Wind completes $75M add-on4>
Thorndike Landing client First Wind Capital, LLC announced today that it has received the requisite consents from the holders of a majority in principal outstanding amount of its 10.25% senior secured notes due 2018.
Payment of the Consent Fee to the consenting holders was subject to the satisfaction of the conditions of the Consent Solicitation, including the consummation of a debt financing in an aggregate principal amount of $75.0 million.
Thorndike Landing Issues First Independent Market Report for PJM Storage4>
Thorndike Landing forecasts market clearing prices RMCCP and RMPCP for the PJM regulation market. PJM ancillary services fundamental market model updated for recent RegD market rule changes.
AMP Capital invests in Zone J Generation4>
Thorndike Landing client AMP Capital’s Infrastructure Debt Funds have closed a US$100 million subordinated debt financing for New York City-based Astoria Project Partners, a fully operational, combined cycle power generation facility, with a total generating capacity of 550MW.
Thorndike Landing Supports First Wind with Clean Energy Financing4>
Thorndike Landing supports First Wind Capital, LLC with $200 million senior secured financing due 2018.
Thorndike Landing Advises CHEC with Sale of Biomass Business4>
Thorndike Landing Advises Central Hudson Enterprises Corp. with the divestiture of its Lyonsdale Biomass business located in New York State.
Thorndike Landing advises Integrys Energy with Retail Business Divestiture4>
Thorndike Landing advises Integrys Energy with the divestiture of its Texas retail electric business.
Thorndike Landing advises Integrys Energy with REC Divestiture4>
Thorndike Landing advises Integrys Energy with the divestiture of its renewable energy certificates portfolio to EDF Trading North America, LLC
Thorndike Landing advises Integrys Energy with Hydro Generation Sale4>
Thorndike Landing advises Integrys Energy with divestiture of hydroelectric generation and retail electric businesses.
Thorndike Landing advises Integrys Energy with Wholesale Divestiture4>
Thorndike Landing advises Integrys Energy with the divestiture of its wholesale electric marketing and trading business to Macquarie Cook Power, Inc.
Thorndike Landing advises Integrys Energy with Wholesale Gas Divestiture4>
Thorndike Landing advises Integrys Energy with the divestiture of its wholesale natural gas marketing business, resulting in an estimated $475 million reduction in its collateral support requirements.
Thorndike Landing advises Acciona Energy North America4>
Thorndike Landing advises Acciona Energy North America with its successful placement of tax equity for SPP wind farm Red Hills.
Thorndike Landing advises Integrys with Consulting Business Divestiture4>
Thorndike Landing advises Integrys Energy with the divestiture of its energy consulting business to U.S. Energy Services, Inc.
Thorndike Landing advises Integrys Energy with Canadian Divestiture4>
Thorndike Landing advises Integrys Energy with the divestiture of its Canadian power and natural gas marketing business to Shell Energy North America, resulting in an estimated $300 million incremental reduction in its collateral requirements.
Thorndike Landing advises Babcock & Brown Infrastructure Fund North America4>
Thorndike Landing advises Babcock & Brown Infrastructure Fund North America with the US$910 million acquisition of the Dominion Peoples and Dominion Hope natural gas local distribution companies located in Pennsylvania and West Virginia from Dominion Resources.
Thorndike Landing advises Rockland Capital Energy Investments, LLC4>
Thorndike Landing advises Rockland Capital Energy Investments, LLC with the equity offering for an interest in the BL England Generating Station, a 416 MW coal-fired generating plant located in the PJM Interconnection.
Thorndike Landing advises Dominion Energy, Inc.4>
Thorndike Landing advises Dominion Energy, Inc. with the successful acquisition of 50% interest in the 650 MW Fowler Ridge Wind Farm located in Indiana from BP Alternative Energy, Inc. for an undisclosed amount.
Thorndike Landing advises Duquesne Light4>
Thorndike Landing advises Duquesne Light with business strategy effort to determine the best option for its business, with respect to membership in the PJM Interconnection versus the Midwest ISO.
Thorndike Landing advises The United Illuminating Company and NRG Energy4>
Thorndike Landing advises The United Illuminating Company and NRG Energy with its successful venture to construct new generating capacity in Connecticut.
Thorndike Landing advises AIG Financial Products Corp. and Union Bank of CA4>
Thorndike Landing advises AIG Financial Products Corp. and Union Bank of California, N.A. with the successful US$1.3 billion sale and leaseback transaction for FirstEnergy Generation Corp.’s 779 MW portion of the coal-fired Bruce Mansfield Plant Unit 1 operating in the Midwest ISO.
Thorndike Landing advises SUEZ Energy North America4>
Thorndike Landing advises SUEZ Energy North America with the successful CDN$124 million acquisition of 100% of the Canadian wind power development company Ventus Energy Inc.