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Financing Renewable Ventures

Favorable incentives at both the national and federal levels mean more renewable energy projects are possible. But, it is still tough to launch wind, solar or biomass deals without sustainable financing, which is still challenging in today’s environment. In the last year, lenders have become increasingly attracted to renewable energy ventures. To meet that need, a number of private equity firms sponsored by both large global investment banks and smaller regional firms have emerged. It’s in large part a response to the Energy Policy Act of 2005, which provides numerous tax breaks to regulated and non-regulated entities alike to invest in sustainable energy forms. And, it’s also a byproduct of state incentives that include renewable portfolio standards that require utilities to supply a certain percentage of their generation mix in the form of clean energy. And other states such as Oregon provide a tax credit equal to 35 percent of an eligible project’s capital cost, up to a maximum of $10 million. The net result of those incentives is that a properly structured deal can provide an attractive long-term return. “Many resources are available for investors and renewable energy developers who are interested in learning more about renewable-based energy projects,” […]

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VeraSun Announces IPO Pricing

VeraSun Energy Corporation (NYSE: VSE) announced today the pricing of its initial public offering of 18,250,000 shares of its common stock at $23 per share (before underwriting discounts and commissions). Of those shares, VeraSun is selling 11,000,000 shares and selling shareholders are selling 7,250,000 shares. In addition, certain of the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 2,737,500 shares of common stock at the initial public offering price. Morgan Stanley & Co. Incorporated and Lehman Brothers Inc. are serving as the joint bookrunners of this offering, with A.G. Edwards & Sons, Inc. serving as the co-manager. Copies of the final prospectus relating to this offering may be obtained by contacting Morgan Stanley & Co. Incorporated, 180 Varick Street, New York, New York 10014, Attention: Prospectus Department or by contacting Lehman Brothers Inc. c/o ADP Financial Services, IDS Prospectus Fulfillment, 1155 Long Island Avenue, Edgewood, New York 11717. About VeraSun Energy Corporation VeraSun Energy Corporation is the second largest ethanol producer in the U.S. based on production capacity, according to the Renewable Fuels Association. The company has two operational production facilities in Aurora, South Dakota and Fort Dodge, Iowa and is constructing a […]

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