May 19, 2020

TransCanada to sell its solar assets and focus on $24bn capital program

Columbia Pipeline Group
Axium Infinity Solar LP
zaymalz malz
2 min
TransCanada to sell its solar assets and focus on $24bn capital program

Canadian Energy giant TransCanada has announced that it will be selling its Ontario solar portfolio to a subsidiary of Axium Infrastructure Canada – Axium Infinity Solar LP.

The agreement will see TransCanada’s eight solar power facilities in Ontario that generate 76MW annually sold in a deal worth $540mn, having bought the assets for a total of $470mn between 2013 and 2014.

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The sale of the company’s non-core solar assets its part of its strategy to focus on its $24bn worth of core projects.

“This transaction demonstrates our financial discipline as we continue to build on our vision of being North America's leading energy infrastructure company,” said Russ Girling, TransCanada's President and Chief Executive Officer. “The proceeds from this sale will help fund our $24 billion near term capital program while maximizing value for our shareholders.”

This includes the company’s recent purchase of Columbia Pipeline Group back in July for a total price of approximately US$13bn.

Further, in addition to its renowned pipeline network, TransCanada owns or has interests in approximately 6,200MW of power generation the US and Canada alone.

The transaction is expected to close before the years’ end, subject to customary agreements.

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Jul 30, 2021

CB Insights: US Insurtechs Compete In A Now Global Market

2 min
Tech market intelligence platform CB Insights highlights that 2021 insurtech funding is less dominated by US firms and more geographically diverse

In the first half of the year, insurtech companies around the world have raised US$7.4bn, nearly doubling their funding in Q2. According to Digital Insurance, insurtechs have raised US$4.8bn in Q2—an 89% increase in funding from Q1. But US firms are no longer the sole beneficiaries. 

What Are the Stats? 

Out of the 15 Q2 mega-rounds—those that top US$100mn—only eight included American firms. Pretty good, you might say. That’s over half! But US companies only made up 38% of the deals, which marks a 10% drop from Q1 and a 12% drop from 2020. Technically, therefore, US insurtechs are less influential than they’ve been in the past. But who says this is a bad development? 


Despite my American citizenship, I’d argue that a more globally diverse insurance market is only for the best. Many of the world’s citizens who could most benefit from improved insurance services live outside of the States—and deserve local, tech-savvy services. 

Why Does This Matter? 

You’re always going to see the typical insurtech contenders from Western countries. For instance: 



But it’s critical that we address risk across the world. American insurtechs might be some of the most technologically skilled firms in the industry, but it’s not their first goal to address floods in Southeast Asia, crop destruction in China, and COVID complications in South Africa. That’s why we should celebrate that the recent Q2 round included insurtechs from 35 different countries


According to CB Insights’ Q2 2021 Quarterly InsurTech Briefing, this was the first time that they’d observed insurtech activity in Botswana, Mali, Romania, Saudi Arabia, and Turkey. And ‘from a product, service, distribution, and underlying risk perspective, we—as a society and as an industry—are moving at an unprecedented speed’, says Dr. Andrew Johnston, Global Head of Willis Re InsurTech


Just ask CB Insights. InsurTech value propositions have resonated with the world. 


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