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Ørsted brings in renowned investors, CDPQ and Cathay PE, for Greater Changhua 1 Offshore Wind Farm

Global institutional investor CDPQ and experienced local investor Cathay PE will co-invest 50% of the 605MW Greater Changhua 1 Offshore Wind Farm.
Ørsted will retain a 50% share ownership in the Greater Changhua 1 Offshore Wind Farm, as well as deliver the full construction and long-term O&M services for the project, which is expected to be completed by 2022.
The partnership is based on a financing model for offshore wind projects that is unique in the Asia-Pacific Region.
This is CDPQ’s first direct investment in…

Global institutional investor CDPQ and experienced local investor Cathay PE will co-invest 50% of the 605MW Greater Changhua 1 Offshore Wind Farm.
Ørsted will retain a 50% share ownership in the Greater Changhua 1 Offshore Wind Farm, as well as deliver the full construction and long-term O&M services for the project, which is expected to be completed by 2022.
The partnership is based on a financing model for offshore wind projects that is unique in the Asia-Pacific Region.
This is CDPQ’s first direct investment in Taiwan through its Infrastructure team, which has a long track-record in the renewable energy sector.

TAIPEI and MONTREAL, Dec. 28, 2020 /PRNewswire/ – Ørsted announced today that it has signed an agreement with a consortium of world-leading investors, which consists of global institutional investor Caisse de dépôt et placement du Québec (CDPQ) and established local investor Cathay PE, to co-invest in the 605MW Greater Changhua 1 Offshore Wind Farm (Greater Changhua 1). CDPQ and Cathay PE will jointly own 50% of the Greater Changhua 1 and Ørsted will retain a 50% share. The majority of the deal amount of approximately TWD 75 billion (approximately DKK 16 billion, or 3.4 billion CAD) will be used to pay for the EPC services for Greater Changhua 1.

The transaction is still subject to all customary and regulatory approvals by Taiwanese authorities.

Matthias Bausenwein, President of Ørsted Asia-Pacific, says: «It has been our commitment to share our vast offshore wind financing experience with Taiwan’s financial community since the early stages of developing the Greater Changhua projects. We are glad to successfully achieve this important milestone by bringing our reliable and experienced partner CDPQ to Taiwan for the first time. We are equally thrilled to collaborate with our local partner Cathay PE, so that the Greater Changhua 1 will also be locally owned.»

Kunal Patel, Vice President and Ørsted Head of Partnerships & Structured Solutions, says: «This transaction marks the evolution of our partnership model into Taiwan, leveraging our extensive track record of development, construction and operation of large offshore wind farms. With a long–term agenda in Taiwan, we remain committed to the Greater Changhua 1 project and will also reutilize the capital into further developing new offshore wind projects to assist Taiwan in achieving its energy transition goals.»

Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure, CDPQ, says: «This investment in Taiwan, which represents an attractive market for CDPQ, allows us to further diversify our presence in Asia. As an investor with vast experience in renewable energy, we seek this kind of greenfield opportunity to contribute to the transition towards a low–carbon economy. Working alongside our long-term partner Ørsted, and experienced local investor Cathay PE, we are proud to support the Greater Changhua 1 Offshore Wind Farm, which will supply clean power to over 650,000 Taiwanese families.»

Cyril Cabanes, Managing Director, Infrastructure, Asia Pacific, CDPQ, adds: «We are excited to take this first step in Taiwan’s renewable energy market, where we see many prospects and opportunities to collaborate with esteemed international and local partners who share our interest in developing high-quality infrastructure. We are also committed to further expand our renewables and energy footprint in Asia Pacific, building upon this investment and other successful platforms that we have developed in India and Australia over the past few years.»

This investment in Greater Changhua 1 is an important step for CDPQ’s CAD 28-billion infrastructure portfolio. Indeed, this marks the first time that CDPQ is investing in an offshore wind farm in Asia Pacific, which reflects CDPQ’s confidence in Ørsted’s track record and adds the asset to the institutional investor’s long list of investments in solar and wind energy across the Americas, Europe and India.

Jeff Chang, Chairman, Cathay PE, says: «We are delighted to team up with CDPQ to invest alongside Ørsted in the Greater Changhua 1 Offshore Wind Farm project. This landmark transaction represents an important milestone in Taiwan’s energy transition towards a low-carbon future and fits perfectly with Cathay PE’s investment mandate to invest in high–quality energy infrastructure projects alongside world–class partners.»

The 50-50 partnership is the first of its kind in the APAC offshore wind sector and will help stimulate further opportunities in the Taiwanese market for offshore wind. Ørsted will retain 50% share of the Greater Changhua 1, which will be financed by its corporate balance sheet and will deliver the long-term operations and maintenance (O&M) services to the project. Greater Changhua 1 is part of the 900MW Greater Changhua 1 & 2a Offshore Wind Farms, which Ørsted is currently constructing and expects to be completed in 2022.

CDPQ and Cathay PE will acquire a 50% share of the Greater Changhua 1 via a multi-tranche financing package from 15 international and local banks and two local life insurance companies: Cathay United Bank, CTBC Bank, E-SUN Bank, Taipei Fubon Bank, Cathay Life Insurance Co., Taiwan Life Insurance Co., BNP Paribas, Crédit Agricole, Deutsche Bank, DZ Bank, HSBC, Oversea-Chinese Banking Corporation, Korea Development Bank, Siemens Bank, Société Générale, Standard Chartered and Sumitomo Mitsui Banking Corporation.

The financing package, which was structured and led by Ørsted, will be partially supported by guarantees and/or loans from five international export credit agencies (ECAs); Eksport Kredit Fonden (EKF) of Denmark, UK Export Finance (UKEF), Atradius of the Netherlands, Korea Trade Insurance Corporation (KSURE), and Export Development Canada (EDC), which participates for the first time in an offshore wind farm deal in Taiwan.

About Ørsted in Taiwan

The Greater Changhua 1 & 2a Offshore Wind Farm will be located 35-60 kilometers off the coast of Changhua County and have a capacity of approx. 900MW. The construction of the offshore wind farm will be finalized in 2022.
In June 2018, Ørsted was awarded the right to build another 920MW offshore wind farm in Taiwan through its Greater Changhua 2b & 4 sites. Changhua 2b & 4 are to be built in 2025, subject to grid availability and Ørsted’s final investment decision in 2023.
Ørsted is also the biggest shareholder and co-owner of Taiwan’s first commercial-scale offshore wind project, Formosa 1, which was extended from a capacity of 8MW to 128MW in 2019.
As the world leader in offshore wind, Ørsted has installed more than 1,500 offshore wind turbines, with an installed offshore wind capacity accounting for one third of the world’s total. Ørsted has installed approx. 7.6GW offshore wind capacity and has a further 2.3GW under construction, including Changhua 1 & 2a. In addition, Ørsted has secured the rights to build approx. 2.9GW offshore wind in the US, approx. 1.1GW in Germany, and approx. 0.9GW in Taiwan. It is Ørsted’s ambition to install a total of 15GW offshore wind capacity worldwide by 2025.

About Ørsted
The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs and operates offshore and onshore wind farms, solar farms, energy storage facilities, and bioenergy plants, and provides energy products to its customers. Ørsted ranks #1 in Corporate Knights’ 2020 index of the Global 100 most sustainable corporations in the world and is recognized on the CDP Climate Change A List as a global leader on climate action. Headquartered in Denmark, Ørsted employs 6,120 people. Ørsted’s shares are listed on Nasdaq Copenhagen (Orsted). In 2019, the group’s revenue was DKK 67.8 billion (EUR 9.1 billion). Visit https://orsted.com/ or follow us on Facebook, LinkedIn,Instagram and Twitter.

About CDPQ
Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2020, it held CAD 333.0 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.

About Cathay Private Equity
Cathay Securities Investment Trust (Cathay SITE) is the largest domestic asset management firm in Taiwan. Since FSC’s approval of Securities Investment Trust Enterprises to conduct Private Equity Funds business in August of 2017, Cathay SITE established a wholly owned subsidiary – Cathay Private Equity Ltd. Co. – to serve as the General Partner, begin its fundraising activities and appoint the Private Equity Investment Team of Cathay SITE to manage the Fund. «Cathay Sustainable Private Equity Fund Limited Partnership» was launched in December 2018, the first fund with an LP structure raised in Taiwan that focuses on infrastructure and «Five-Plus-Two Innovative Industries.» The Fund invests 100% of its capital domestically, targeting key industries in Taiwan’s sustainability development: Circular Economy (e.g., reuse of waste), Renewable Energy (e.g., solar and wind power), and the «Five-Plus-Two Innovative Industries» (e.g., IoT, long–term care, new agriculture) supported by the government. All investments are environmentally sustainable, follow long-term trends, and fulfill necessities. The Fund expects to provide stable returns over long periods, suitable for long-term capital investments for insurance companies or retirement planning.

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SOURCE Caisse de dépôt et placement du Québec

Georgia Senate Candidate Reverend Raphael Warnock Issues Statement Supporting Arts & Culture In Georgia

SAVANNAH, Ga., Dec. 28, 2020 /PRNewswire/ — Reverend Raphael Warnock issued his statement outlining support for Georgia’s arts, culture, and creative industry.

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SAVANNAH, Ga., Dec. 28, 2020 /PRNewswire/ — Reverend Raphael Warnock issued his statement outlining support for Georgia’s arts, culture, and creative industry.

I am humbled and grateful to the arts community for coming together in an effort towards our historic work here in Georgia. And I especially want to applaud Georgians for the Arts for all that you do to advocate for our residents.

From the world-renowned Fox Theater and the Atlanta Symphony to the High Museum, Savannah Music Festival, the National Endowment of the Arts’ recognition of the power of writing through the Deep Center, and «Hollywood of the South,» Georgia is home to one of the most vibrant arts and entertainment industries in the country, bringing thousands of jobs for creatives and investment in artistic professions to our state as well as contributing to so much to our tourism industry.

That is why I am honored to have the support of Georgians for the Arts and commit to strongly supporting the arts community as U.S. Senator. As Georgia’s Senator, I will be dedicated to investments in the National Endowment for the Arts and the National Endowment for the Humanities, and the Corporation for Public Broadcasting. Also, the full funding for arts education in all public schools and greater emphasis on STEAM programs contributing to a well-rounded education and world-class creative workforce.

I will also work to improve tax policy to better incentivize charitable giving and fight for fair and equitable artist deductions of their work; and to recognize artists, entrepreneurs, and not-for-profit arts and culture organizations as valuable parts of the creative economy and contributors to the fabric of our small business community. And I will always lift up the full benefits the arts has in both health care and the military as a means for therapy and treatment.

As long as I am fortunate to represent you in the United States Senate, artists, creatives, musicians, performers, and art enthusiasts will have an ally in Washington.

About Georgians for the Arts

Georgians for the Arts, a 501c4 established in 2019, has a mission to provide vision, leadership, and resources that ensure the growth, prosperity, and sustainability of arts and culture in Georgia. It will assume the advocacy activities started and supported by ArtsGeorgia since 2013. Georgians for the Arts will advance its mission through year-round arts and culture advocacy activities, year-round programs for artists, and the networking of artists, arts educators, local arts organizations, and business leaders all working towards a better Georgia. www.georgiansforthearts.org

About ArtsGeorgia

ArtsGeorgia, an event sponsor, is a nonprofit arts service and advocacy organization founded in 2010, dedicated to advocating and providing resources for the arts with vision, innovation, consistency, and leadership. ArtsGeorgia implements its mission by providing essential advocacy resources; publishing newsletters and the ArtsGeorgia Official Arts Advocacy Handbook; creating the Georgians for the Arts initiative; and producing the annual Arts Advocacy Roundtable. ArtsGeorgia participates in local, regional, and national arts advocacy organizations, including 7 years as a National Partner of Americans for the Arts’ Arts Advocacy Summit. Other programs include expanding SpaceFinder Georgia, the development of ArtsGeorgia PLACES as a statewide arts directory and collaboration with Etchster to provide the Find Georgia Public Art app. www.artsgeorgia.net

Contact: Patrick Kelsey
Georgians for the Arts
(718) 689-0620
advocates@georgiansforthearts.org

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SOURCE Georgians for the Arts

LendingClub’s Tips for a Financially Healthier 2021

SAN FRANCISCO, Dec. 28, 2020 /PRNewswire/ — LendingClub Corporation (NYSE: LC), America’s leading online lending marketplace connecting borrowers and investors, released tips for staying financially healthier in 2021.

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Eleven years after the Great Recession technically ended, many Americans are still struggling financially and the COVID-19 pandemic has only made things worse. According to the Financial Health Network, in 2020, the majority of people in America (67 percent) are not considered financially healthy¹. With little financial cushion, many Americans are struggling to build savings and plan for their futures.

«As a vaccination program starts to roll out across the country, we should get closer to our pre-pandemic lives in 2021 but that doesn’t mean we should get back to old financial habits,» said Anuj Nayar, Financial Health Officer at LendingClub. «Many Americans have seen reductions in income and are saddled with unforeseen expenses as a result of this pandemic. It’s time to get back to basics so we can emerge from this crisis financially stronger.»

LendingClub is committed to helping borrowers improve their financial health, especially during the COVID-19 pandemic. For a financially healthier 2021, Anuj Nayar recommends to:

Take stock of your financial life. Look at your spending habits and identify if you are living within your means. A critical part of financial planning is identifying if you are spending less than you are making. It’s also important to make sure you’re paying off bills on time and in full. If you are doing this already, you’re on the right track to a healthier future.
Create a budget every month and stick to it. Budgets can be simple to reflect short term goals or more advanced to project over a longer period of time. The important thing is to identify how much you’re spending on basic needs (like food, shelter, clothes), discretionary categories (like dining out and shopping) and how much you’re stashing aside for savings every month. Plus, a budget will help you from impulse spending that could get you into a debt trap.
Identify ways to save. It’s important to have sufficient living expenses in savings that you can draw from in case of an emergency and have sufficient long-term savings that you do not touch. If you haven’t started a habit of saving, set up an automatic disbursement so that part of your paycheck every month goes automatically into savings. If the money is out of sight, you might be less tempted to spend it.
Decrease your overall debt load. In 2019, Americans carried an average personal debt of $90,460² and, while overall credit card debt has dropped in 2020, many people are still unable to pay their bills in full. To decrease your overall debt load, consider consolidating your debt or refinancing it through a lower cost personal loan to pay it off responsibly.
Borrow responsibly. It’s important to make sure you don’t over-lever yourself. While credit cards are great for convenience, they’re a horrible way to borrow money. Credit cards are basically a high-interest loan that can become challenging to pay back. This can lead to a decline in credit scores and in some cases a revolving debt trap. Only swipe if you intend to pay that purchase back in full when your bill arrives.
Plan and invest in your future. If you’re at the stage where you’ve managed the above, start investing in yourself and your future. Consider working with a financial advisor to understand your investment options, identify any life insurance needs and start estate planning.

LendingClub is on a mission to help customers on a path towards financial success and it frequently monitors the impact of its products on financial health of borrowers. For example, last year, the company launched balance transfer loan to give borrowers the ability to seamlessly pay credit cards and high-interest debt as part of the personal loan process. LendingClub works with a partner network of more than 1,700 credit card, bank and loan companies. With a balance transfer loan, members can add up to 12 creditors per loan and are able to begin improving their financial health immediately—from the time of their application. After working with LendingClub, nearly half of balance transfer borrowers saw higher FICO and lower revolving balances.

Additionally, in an effort to further engage members along their financial health journey, LendingClub launched Credit Profile within its Member Center this year. With Credit Profile, borrowers gain clarity and insight to help them manage their immediate financial needs today while improving their credit for a better tomorrow. Credit Profile uses data to provide members with a guided experience of their financial lives, highlighting important credit decisioning and pricing factors like debt-to-income ratio, credit utilization and credit score.

Since LendingClub’s launch in 2007, it has facilitated over $60 billion in loans to more than 3 million members. Loans facilitated by LendingClub typically save borrowers money versus higher APR credit card debt with many borrowers seeing lasting improvements in FICO 12 months into the life cycle of the loan. Within the same 12-month timeframe, nearly half of LendingClub debt consolidation borrowers have lower revolving balances. For more tips, visit LendingClub’s blog.

About LendingClub

LendingClub was founded to transform the banking system to make credit more affordable and investing more rewarding. Today, LendingClub’s online credit marketplace connects borrowers and investors to deliver more efficient and affordable access to credit. Through its technology platform, LendingClub is able to create cost efficiencies and passes those savings onto borrowers in the form of lower rates and to investors in the form of risk-adjusted returns. LendingClub is based in San Francisco, California. All loans are made by federally regulated issuing bank partners. More information is available at https://www.lendingclub.com.

¹«U.S. Financial Health Pulse 2020 Trends Report,» Financial Health Network, August 2020
²«Debt Reaches New Highs in 2019, but Credit Scores Stay Strong,» Experian Consumer Debt Study, March 9, 2020

CONTACT:

For Investors:
IR@lendingclub.com

Media Contact:
Press@lendingclub.com

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SOURCE LendingClub Corporation

TruGreen Marks $1 Million Milestone of Giving Back to Local Communities

MEMPHIS, Tenn., Dec. 28, 2020 /PRNewswire/ — TruGreen, the nation’s leading lawn care provider, recaps another year of giving through their partnerships with First Tee and St. Jude…

MEMPHIS, Tenn., Dec. 28, 2020 /PRNewswire/ — TruGreen, the nation’s leading lawn care provider, recaps another year of giving through their partnerships with First Tee and St. Jude Children’s Research Hospital. This past year also marked TruGreen’s $1 million milestone of giving back to local communities since 2014 through the company’s branch recognition and corporate giving program.

The charity of choice for 2020 was the youth development organization First Tee which uses golf as a catalyst for personal growth. In September, TruGreen donated $80,000 to First Tee — Greater Philadelphia, one of First Tee’s 150 chapters, to support their Drive for the Future Initiative designed to create an innovative outdoor classroom for children in the Philadelphia area.

TruGreen also announced an ongoing partnership with First Tee, which will support the expansion of the First Tee College Scholarship Program to include applicants pursuing careers in agronomy, plant science and other science-based professions

«As we wrap up another year, we reflect on our commitment to Live Life Outside through our local expertise to achieve outdoor spaces our customers can enjoy and be proud of and our dedication to the communities we serve,» said John Cowles, President and CEO of TruGreen. «And while times have been challenging, the generosity of our associates and customers has remained constant. The contributions to these deserving organizations wouldn’t have been possible without them.»

Additionally, TruGreen customers raised over $70,000 for St. Jude Children’s Research Hospital through the TruGreen website. These contributions support the hospital’s mission to defeat childhood cancer and other life-threatening pediatric diseases.

For more information about TruGreen, visit trugreen.com and follow them on Facebook, Instagram and Twitter.

About TruGreen
TruGreen is the nation’s leading lawn care provider offering neighborhoods across the country tailored lawn, tree and shrub care along with protection against mosquitoes and other pests. As a company rooted in scientific expertise with a customer-centered approach, TruGreen helps homeowners achieve an outdoor living space that brings them pride. There are approximately 260 TruGreen branches in the United States and Canada, plus 38 franchise locations. Visit http://www.TruGreen.com, http://www.facebook.com/TruGreen, or the TruGreen app for more information.

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SOURCE TruGreen

Joseph Acquired by Urban Home Entertainment for Video-On-Demand Distribution Worldwide

RICHMOND, Va., Dec. 28, 2020 /PRNewswire-HISPANIC PR WIRE/ — Soulidifly Productions, a film company with a mission to produce meaningful, uplifting stories that are entertaining…

RICHMOND, Va., Dec. 28, 2020 /PRNewswire-HISPANIC PR WIRE/ — Soulidifly Productions, a film company with a mission to produce meaningful, uplifting stories that are entertaining and beautifully told, has partnered with TRIAL X FIRE, LLC, the distribution branch of Urban Home Entertainment, to release Joseph to audiences everywhere on video-on-demand starting December 24, 2020, on Amazon Prime and Vimeo.

The film, Joseph, aligns with the ‘Year of Return’ (2019) and the ‘Decade of Return’ (2020-2030) currently being expressed by African leaders and global influencers as people search for answers in the present by looking to clues from the past. It is the winner of the 2020 “Best Diaspora Narrative Feature” award at the Africa Movie Academy Awards. It has been endorsed and supported by the Governments of Ghana, Jamaica and Barbados and included in the Ghana Tourism Authority's “Year Of Return."

«Joseph will bring viewers a deeper understanding of how the search for truth can be healing, especially during times of social and political unrest,» said BK Fulton, founding chairman and CEO, Soulidifly Productions. «This film aligns with 2019’s ‘Year of Return’ and the ‘Decade of Return’ currently being expressed by African leaders and global influencers as more people search for answers in the present by looking to clues from the past.»

Winner of the 2020 «Best Diaspora Narrative Feature» award at the Africa Movie Academy Awards, Joseph was shot on location in Ghana, Jamaica and Barbados and produced by Step by Step Productions with assistance from Soulidifly Productions. Joseph is a dramatic feature film about Joseph King, a young Jamaican doctor with a burning desire to re-connect to his family’s roots with the Ashanti tribe in Ghana. The quest to «go home» creates family conflict. Joseph’s curiosity about Africa is fueled even more by a friend from medical school, who would boast about his homeland Ghana. His stories contradict with what Joseph hears and sees about Africa in the media. A serious tragedy, a chance meeting and an unfulfilled promise drive Joseph towards an uncertain destiny.

Access trailer: https://www.soulidifly.com/joseph

Joseph has been endorsed and supported by the Governments of Ghana, Jamaica and Barbados and was included in the Ghana Tourism Authority’s «Year Of Return.» The film was released theatrically in Ghana, Nigeria, Jamaica and other Caribbean islands, and in the U.S. in select AMC theaters earlier this year.

Directed by Marcia Weekes and co-written by Weekes and Delphine Itambi from the Republic of Cameroon, the film includes Caribbean/African actors and artists.

About Soulidifly Productions
Founded in 2017, Soulidifly tells the stories of multiethnic, multigenerational people across various segments of life, experiences and eras. https://www.soulidifly.com/

About Trial X Fire, LLC
A distribution brand of Urban Home Entertainment, TRIAL X FIRE, LLC (TXF) is a privately owned company that specializes in Movies, Television, and Musical programming. TrialxFire.com.

Media Contact:
Windy Campbell
windy@soulidifly.com
(804) 314-0205

Photo – https://mma.prnewswire.com/media/1392380/Soulidifly_Productions_Joseph_Movie_Poster.jpg

SOURCE Soulidifly Productions

AST Applauds Congressional Leaders for Passage of the Comprehensive Immunosuppressive Drug Coverage for Kidney Transplant Patients Act

MOUNT LAUREL, N.J., Dec. 28, 2020 /PRNewswire/ — After nearly 20 years of tireless advocacy from the transplant stakeholder community and some very committed Congressional leaders, the Comprehensive Immunosuppressive Drug Coverage for Kidney Transplant Patients Act (Immuno Bill) was passed by Congress and signed into law by President Trump.

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The American Society of Transplantation commends Senators Cassidy, M.D. (R-LA), Durbin (D-IL), and Congressmen Burgess, M.D. (R-TX) and Kind (D-WI) for their steadfast support and commitment over many sessions of Congress to make this passage a reality.

«The passage of the Immuno Bill is a huge victory for kidney transplant recipients, donors, and their families,» stated AST President Dr. Richard Formica.

The AST, representing a majority of medical professionals engaged in solid organ transplantation, has long advocated for removing the 36-month immunosuppressive drug coverage limitation for kidney transplant patients. The Immuno Bill passage has remained a top legislative priority for the Society for nearly two decades. During this time, the AST conducted dozens of targeted Capitol Hill fly-ins, connecting-the-dots between members of Congress, transplant medical professionals, patients, and families that reside and work in their Congressional districts and states. Society leaders have also testified in support of the Immuno Bill before the House Energy & Commerce Committee and conducted comprehensive grassroots activities to drive co-sponsorship and overall support of the legislation. Additionally, the AST partnered on many occasions with members of Congress to host Congressional educational briefings to garner support for the Immuno Bill and hosted a Transplant Patient Summit with Congressional leaders that focused on the need to eliminate kidney patients’ 36-month immunosuppressive drug coverage limitation.

«Passage of the Immuno Bill will undoubtedly have a positive impact on kidney transplant recipients and their families. Furthermore, elimination of the 36-month immunosuppressive coverage limitation protects the gift and investment of a donor kidney and saves the U.S. Treasury money by preventing kidney failure, a re-transplant, or a return to dialysis,» Dr. Formica added.

The AST thanks the U.S. Congress, transplant and kidney stakeholder communities, as well as the Society’s membership for working together and staying committed to seeing this critical patient public policy through to completion.

Media Contact: Shauna O’Brien
Sobrien@myast.org / 609-226-3924

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SOURCE American Society of Transplantation

Capital Dynamics Exits 108-Megawatt Beacon II and V Solar Portfolio in Kern County, California

NEW YORK, Dec. 28, 2020 /PRNewswire/ — Capital Dynamics, an independent global private asset management firm, completed the sale of a majority interest in its Beacon portfolio to TortoiseEcofin and S&B USA Energy. Each buyer has acquired a 49.5% ownership of the portfolio. Capital Dynamics retains a minority stake of 1%.

The 107.8 megawatt (MWdc) Beacon portfolio consists of two projects: Beacon II (59.6 MWdc) and Beacon V (48.2 MWdc). Both sites…

The 107.8 megawatt (MWdc) Beacon portfolio consists of two projects: Beacon II (59.6 MWdc) and Beacon V (48.2 MWdc). Both sites interconnect and sell power to the Los Angeles Department of Water and Power («LADWP») under two 25-year fixed rate Power Purchase Agreements. The assets were wholly acquired from SunEdison during Q1 2016 and achieved commercial operations in Q4 2017.

«We are pleased to be investing in this proven utility scale solar operating portfolio that generates 100% of its revenue under contract with an investment grade rated utility,» said Jerry Polacek, Head of Ecofin’s Private Sustainable Infrastructure Team. «This acquisition closely aligns with our investors’ desire for sustainable dividends and attractive returns.»

«As a leading business group, Shikun & Binui’s corporate vision is to create advanced and sustainable living environments in Israel and around the world for the present, and for generations to come. Shikun & Binui America initiated its U.S. Energy activity in March of 2020 and is excited to have its first solar assets here,» stated Sharon Novak, CEO of Shikun & Binui America. «This builds upon our international experience in energy development of approximately 2 GW of assets already connected to the grid as well as other assets under development.»

«After bringing the Beacon portfolio through final development and operations, these assets are well positioned to provide stable cash yields to TortoiseEcofin and Shikun & Binui America,» said Kathryn Carpenter, Principal of Clean Energy Infrastructure at Capital Dynamics. «We look forward to having our fully integrated asset management affiliate continue to oversee the portfolio, as we deliver a strategic monetization on behalf of a long-term investor.»

Arevon Asset Management will continue to oversee operations of the portfolio on a day-to-day basis.

About Capital Dynamics
Capital Dynamics is an independent global asset management firm focusing on private assets including private equity, private credit and clean energy infrastructure.

Capital Dynamics’ Clean Energy Infrastructure is one of the largest renewable energy investment managers in the world with USD 6.6 billion AUM^¹ and has one of the longest track records in the industry. The CEI strategy was established to capture attractive investment opportunities in the largest and fastest growing sector of global infrastructure – proven renewable energy technologies, primarily in North America and Europe, across solar, onshore wind, energy storage and related infrastructure with a focus on both utility-scale and distributed generation technologies. The CEI platform’s dedicated asset management business provides highly-specialized services to ensure optimal performance and value from projects. The CEI strategy currently manages 7.9 GWdc of contracted gross power generation across more than 150 projects in the United States and Europe,^² and is one of the top 3 global solar PV owners.^³

Since the CEI platform’s inception in 2010, over 17 million metric tons of greenhouse gas emissions have been avoided as a result of the firm’s renewable investments.^⁴ This is equivalent to the power needed to supply more than 3 million homes or passenger vehicles for one year.⁵ In 2020, the CEI strategy received top rankings from GRESB (the ESG benchmark for real assets) for commitment to sustainability, and in 2019 awarded Global PE Energy Firm of the Year by Private Equity International. For more information, please visit: www.capdyn.com.

About TortoiseEcofin
TortoiseEcofin brings together strong legacies from Tortoise, with expertise investing across the energy value chain for more than 20 years, and from Ecofin, which has roots back to the early 1990s. Ecofin is a sustainable investment firm dedicated to uniting ecology and finance. Our mission is to generate strong risk-adjusted returns while optimizing investors’ impact on society. We are socially-minded, ESG-attentive investors, harnessing years of expertise investing in sustainable infrastructure, energy transition, clean water & environment and social impact. Our strategies are accessible through a variety of investment solutions and seek to achieve positive impacts that align with UN Sustainable Development Goals by addressing pressing global issues including climate action and clean energy. Ecofin Investments, LLC is the parent of registered investment advisers Ecofin Advisors, LLC and Ecofin Advisors Limited (collectively «Ecofin»).

About Shikun & Binui
Established in 1924, Shikun & Binui Ltd. (S&B) is an experienced construction, development and real estate group, headquartered in Israel and active globally. S&B is publicly traded on the Tel Aviv Stock Exchange (SKBN) and is active in Israel and globally in the development and construction of large scale, complex heavy civil infrastructure projects including solar and energy related projects. S&B has been active in the U.S. since 2012 and is now operating out of Pittsburgh, PA. In the US, the company’s operations includes development and investments in the energy and infrastructure sectors as well as construction activity.

For Capital Dynamics enquiries, contact:

Nick Rust | Prosek Partners
Office: 646.818.9252
Mobile: 917.439.0307
Nrust@prosek.com

For TortoiseEcofin enquiries, contact:

Maggie Zastrow
Office: 913. 981. 1020
info@tortoiseadvisors.com

For Shikun & Binui enquiries, contact:

Katie Spear, CPSM
Mobile: 412. 779. 0635
kspear@iiconusa.com

¹ Capital Dynamics, as of September 30, 2020. Includes assets in renewable energy projects managed by Capital Dynamics, including USD 4.2 billion assets under discretionary management and USD 2.4 billion tax equity assets. Tax equity is a financing solution for renewable energy projects.
²Capital Dynamics, as of September 30, 2020. Includes operational assets, partially commissioned assets and contracted assets with PPAs secured.
³Renewable Assets (Owners) League Tables. Bloomberg New Energy Finance as of September 30, 2020. Includes (i) assets with financing secured / under construction, (ii) partially commissioned assets, and (iii) commissioned assets projects globally, excluding China.
⁴Environmental benefits are based on US Environmental Protection Agency Greenhouse Gas Equivalencies Calculator.
⁵Environmental benefits are based on US Environmental Protection Agency Greenhouse Gas Equivalencies Calculator.

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SOURCE Capital Dynamics

Conditions ripe for already resilient US M&A activity to accelerate in 2021 and beyond

NEW YORK, Dec. 28, 2020 /PRNewswire/ — While 2020 proved to be a tumultuous year for mergers and acquisitions (M&A), the second half of the year is seeing one of the largest rebounds in M&A to date. The increase in year-over-year (YoY) deal value in the US since the beginning of Q3 is expected to continue into 2021 as companies position themselves for improved economic activity due to both the presence of a COVID-19 vaccine and more geopolitical certainty after a decisive US election.

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According to EY analysis, with an overall value of $1.4 trillion, US M&A in 2020 is tracking below 2019’s value of $1.8 trillion, but still ranks sixth for deal values in the post-global financial crisis of 2007–2008 period. The US remains the most active deal-making nation globally, much of which can be attributed to large-scale technology deals driving the M&A momentum. During 2020, the technology sector recorded 3,171 deals valued at $447 billion, accounting for 32% of the total deal value. As a strong appetite for product portfolio enhancement and investment in R&D positions continues, the technology sector appears ripe for continued deal-making activity in the months ahead.

Technology wasn’t the only sector that saw a flurry of M&A activity during 2020. Sectors such as financial services, with 658 deals valued at $170 billion (up 13% YoY from Dec. 1, 2019 – Nov. 30, 2020), and media and entertainment, with 151 deals valued at $87 billion (up 8% YoY from Dec. 1, 2019 – Nov. 30, 2020), were the most prominent.

The economic impact of pandemic-induced lockdowns demonstrated the vulnerability of many previously strong sectors, such as industrials (down by 36% at $97 billion compared to the same time period in 2019) and consumer (down by 38% at $43 billion). And although some sectors, such as life sciences, saw a decline in YoY deal value (down 52% at $191 billion compared to the same period in 2019), the overall number of deals recorded increased as several sector companies capitalized on the opportunities created by the pandemic and engaged in strategic deals.

Need for scale drives M&A activity

«The combination of a historically low cost of capital and robust stock prices has created an environment ripe for M&A and we’re seeing rapid-fire acquisition in most sectors,» said Brian Salsberg, EY Global Buy and Integrate Leader, who added that the appetite for scale and resiliency is a major driver of M&A activity.

«Resiliency requires being both big and nimble so that you can afford to pivot your operations as necessary during times of disruption,» Salsberg explained. «Many of the most successful companies over the past year have been those that have scale and reach in terms of people, location, technology and capital — and can flex up and down to meet a rapidly changing consumer, customer and competitor landscape by redeploying human capital, technology and assets to where they are needed at any given moment. Large grocery retailers and quick service restaurants are great examples of companies that had the scale to dramatically ramp up their e-commerce and digital businesses when COVID-19 hit, unlike smaller companies that had difficulty adapting.»

Digital M&A a top investment priority in 2021 and beyond

By highlighting the critical importance of digital technologies, the COVID-19 pandemic has provided a strong catalyst for accelerating digital investment. In fact, nearly two-thirds (62%) of executives believe that their organizations must undergo radical digital transformation over the next two years, according to the EY Digital Investment Index.

To achieve that, they are increasingly turning to emerging technologies such as the internet of things (IoT), artificial intelligence (AI) and cloud computing (67%, 64% and 61%, respectively), with a focus on improving the returns of their investments.

With 52% of executives who pursued digital technologies via M&A saying that the approach exceeded expectations and 45% reporting similarly for digital partnerships, 2021 is likely set to see an increase in digital-focused deals and partnership investments.

«It is critical for companies to choose the right mix of buy vs. build to accelerate their digital initiatives,» added Salsberg. «We’re seeing an increase in digital M&A and an acknowledgement by the majority of executives that this is often better than trying to develop these capabilities organically. However, companies need to make sure they value assets properly, sustain the entrepreneurial culture and maintain intellectual property.»

Asset-light a strategic tool to drive capital efficiency, resiliency

With an eye on recovery from the COVID-19 crisis, many organizations are reassessing their portfolios to determine which assets may be non-core and could be sold to a third party and then contracted back to the organization in an effort to transition fixed costs to a variable cost structure. The benefits to companies could include enhanced enterprise agility, improved capital efficiency and higher shareholder returns. The increased need for asset-light approaches recently is being driven by the onset of digitalization, economic uncertainty due to COVID-19, shareholder activism and unprecedented levels of dry powder within private equity.

For example, consumer products and retail companies are shifting from a traditional supply chain to a more consumer-centric, digital and multichannel experience. As a result, brands are outsourcing manufacturing to repurpose capital on marketing and customer acquisition. They are teaming with logistics providers for timely and efficient logistics and distribution. In the life sciences sector, biopharmaceutical companies are increasingly externalizing their R&D manufacturing capabilities to close innovation gaps.

«We expect more and more companies across the value chain to adopt asset-light strategies well beyond the current COVID-19 crisis,» added Salsberg. «This is largely in response to an increasing need to free up capital to invest in innovation and build more agile and resilient business models. Companies that act now to move capital-intensive hard assets off of their balance sheets can benefit from a first-mover’s advantage and ultimately create a competitive differentiation to outperform their peer-sets.»

About EY
EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets.

Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.

Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.

About EY Strategy and Transactions
EY Strategy and Transactions teams work with clients to navigate complexity by helping them to reimagine their eco-systems, reshape their portfolios and reinvent themselves for a better future. With global connectivity and scale, EY Strategy and Transactions teams help clients drive corporate, capital, transaction and turnaround strategies through to execution, supporting fast-track value creation in all types of market environments. EY Strategy and Transactions teams help support the flow of capital across borders and help bring new products and innovation to market. In doing so, EY Strategy and Transactions teams help clients to build a better working world by fostering long-term value. For more information please visit ey.com/StrategyandTransactions.

About the EY Digital Investment Index
The EY Digital Investment Index gauges how organizations will need to transform to realize their digital strategy over the coming two years. The survey queried 1,001 executives from Europe, North America and Asia from a broad range of industries at companies with more than $1b in revenue. One-third of companies had annual revenues of over $10b. The survey represents CEOs, CDOs (Chief Digital Officers), CFOs, CSOs and CIOs from industries including advanced manufacturing and mobility (AM&M), consumer education, energy, financial services (FS), health care and life sciences, private equity, technology, media and entertainment, and telecommunications (TMT).

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SOURCE EY

Conagra Brands Issues Sustainability Accounting Standards Board (SASB) Disclosure for Fiscal Year 2020

CHICAGO, Dec. 28, 2020 /PRNewswire/ — Conagra Brands (NYSE: CAG) today announced the publication of its Sustainability Accounting Standards Board (SASB) metrics for fiscal year 2020. The disclosure details Conagra’s ongoing focus on environmental excellence, strong governance, and safe operations. This marks the first time that Conagra has reported to the SASB framework according to the Standard for the Processed Foods industry as defined by SASB’s Sustainable Industry Classification System®️…

SASB is an independent, standards-setting organization dedicated to improving the effectiveness and comparability of corporate disclosure on material environmental, social and governance factors. SASB’s approach to standard-setting uses a process that is evidence-based and market-informed.

«This disclosure represents another step forward in Conagra’s commitment to transparency on environmental, social, and governance topics,» said Katya Hantel, senior director of Sustainability at Conagra Brands. «We recognize the need for investors and other audiences to have access to reliable ESG data, and we are pleased to evolve our reporting with the publication of our inaugural SASB disclosure.»

For more information, please see Conagra’s full 2020 SASB disclosure. In addition, Conagra Brands intends to publish its annual Citizenship Report in early calendar year 2021, with supplementary ESG data addressing elements of the Global Reporting Initiative (GRI) and the Task Force on Climate-Related Financial Disclosures (TCFD) frameworks, including climate change, water and deforestation management strategies.

About Conagra Brands
Conagra Brands, Inc. (NYSE: CAG), headquartered in Chicago, is one of North America’s leading branded food companies. Guided by an entrepreneurial spirit, Conagra Brands combines a rich heritage of making great food with a sharpened focus on innovation. The company’s portfolio is evolving to satisfy people’s changing food preferences. Conagra’s iconic brands, such as Birds Eye®, Duncan Hines®, Healthy Choice®, Marie Callender’s®, Reddi-wip®, and Slim Jim®, as well as emerging brands, including Angie’s® BOOMCHICKAPOP®, Duke’s®, Earth Balance®, Gardein®, and Frontera®, offer choices for every occasion. For more information, visit www.ConagraBrands.com.

For more information, please contact:
MEDIA:
Tim Wrona
312-549-5400
tim.wrona@conagra.com

INVESTORS:
Brian Kearney
312-549-5002
IR@conagra.com

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SOURCE Conagra Brands, Inc.

Georgia Forestry Foundation honored with award from the National Association of State Foresters

FORSYTH, Ga., Dec. 28, 2020 /PRNewswire-PRWeb/ — The National Association of State Foresters (NASF) has honored the Georgia Forestry Foundation (GFF) with the John Shannon Current Achievement Award for Partnerships. NASF Awards are given to individuals and organizations in recognition of outstanding work.

«The Georgia Forestry Foundation is the recipient of the 2020 John Shannon Current Achievement Award for Partnerships because they have created a terrific model for using online educational…

«The Georgia Forestry Foundation is the recipient of the 2020 John Shannon Current Achievement Award for Partnerships because they have created a terrific model for using online educational programming to illustrate the role working forests play in our everyday lives,» said Joe Fox, NASF president, NASF Awards Committee chair, and Arkansas state forester. «Their interactive digital platforms and innovative online games—created in partnership with groups like Georgia Public Broadcasting—bring forestry into classrooms and homes, not just across Georgia, but around the world.»

GFF partners with respected educators and organizations to design and develop engaging digital education curriculum and unique in-class experiences that transform the classroom. These programs establish a critical bridge between Georgia’s urban and rural communities and provide opportunities to learn and understand the importance of working forests in our daily lives.

«We are proud to support leading conservation and environmental education nonprofits such as Georgia Public Broadcasting, Chattahoochee Nature Center, Trees Atlanta and others to bring state-of-the-art educational opportunities to our children,» shared Andres Villegas, president and CEO of GFF. «This innovative programming connects people and forests, reaching urban and suburban audiences across Georgia and beyond.»

About GFF
The Georgia Forestry Foundation (GFF), established in 1990, is a 501 (c) (3) organization that acts as the educational arm of the Georgia Forestry Association. Their mission is to sustain Georgia’s forests through funding and support of leadership development, policy studies, and education to enhance the economic, environmental, and community value of working forests for Georgia. For more information, visit http://www.gfagrow.org.

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Media Contact

Matt Hestad, Georgia Forestry Association, 678-378-3513, matt@gfagrow.org

SOURCE Georgia Forestry Association