Delfin Midstream took FID on Delfin FLNG 1 — the first floating liquefaction vessel in the U.S. and the largest FLNG project globally at 4.4 mtpa, moored ~40 miles off Louisiana. Total project cost runs roughly $5B, first LNG in 2030. Equity led by Global Infrastructure Partners (BlackRock) alongside Mitsui O.S.K. Lines, Vitol and Diameter; Samsung Heavy and Black & Veatch hold the construction contracts.

• Vitol is both investor and anchor buyer at 1.4 mtpa — the largest offtaker in an SPA stack that includes Expand Energy, Centrica and Gunvor.

• Delfin’s deepwater port license supports 13.2 mtpa across three vessels; FIDs for vessels two and three are targeted within the next year.

Delfin PR · Vitol · Reuters

• Drax agreed to take Bluefield Solar Income Fund private via scheme at 92.574p cash plus a 2.25p dividend shareholders keep — 94.824p total, a 31% premium to the pre-offer close. Equity value ~£548M; enterprise value £1.082B.

• The book: ~0.9 GW of operating and under-construction UK solar/wind, a >1 GW development pipeline, and ~2.9 GW gross capacity over the next decade. Listed-renewables discounts keep converting into corporate M&A — platforms with capital can buy pipelines below replacement cost.

• Mountain Peak (162 MW) + Canyon Peak (156 MW) near Denver — 318 MW of new LM2500XPRESS peakers tolled to United Power (A) and CORE Electric (AA-), 27-year weighted tenure, full cost pass-through.

• Structure: US$750M assumed project debt at 6.2% + US$250M equity via a C$350M bought deal (CIBC/RBC, $19.20). ~US$80M/yr EBITDA expected; cash flows earmarked for Centralia and Alberta data centres. Close early Q4.

• Google’s first major project since closing the $4.75B Intersect acquisition: a co-located data center + generation complex in Gray and Roberts Counties, Texas Panhandle — 1 GW+ of wind, solar and storage with on-site gas firming, most load served by dedicated power from day one.

• Includes the Caprock Workforce Hub: an 800-acre camp for up to 3,500 workers in Wheeler County. This is the blueprint Alphabet is raising $80B to replicate.

• Closed June 1: $500M cash + $225M assumed net debt + a $25M contingent payment — $750M aggregate per Frontera. Adds 37,000 boe/d of low-decline production, pushes acreage past 7.9M acres, supports H2 guidance of 82,000–91,000 boe/d.

• Seller math: Frontera returns ~$430M (C$8.34/share) to shareholders and pivots to infrastructure — ODL pipeline, Puerto Bahía, LNG/LPG imports. Consolidation where the majors aren’t chasing headlines.

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