RWE has acquired a majority stake in R3 Renewables. R3 Renewables is a joint venture (JV) by Peabody Energy, Summit Partners Credit Advisors, and Riverstone Credit Partners. The JV founding partners commenced the development of a 5.5 GW pipeline of solar and battery storage projects on reclaimed mine lands in Indiana and Illinois. RWE will be acquiring Summit and Riverstone’s stake in R3.
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RIC Energy, a renewable energy company, and Rosemawr Management, an investment firm specialising in municipal and sustainable infrastructure, have announced a financing partnership. This partnership will provide funds for interconnection deposits, supporting the development of up to 450 MW of solar and energy storage projects across New York over the next three years.
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FREYR Battery has inked an agreement to acquire Trina Solar’s US manufacturing assets. The deal is expected to be finalised by the end of 2024. As part of the agreement, FREYR will acquire Trina Solar’s 5 GW solar module manufacturing facility in Wilmer, Texas. The plant began production on November 1, 2024, and is expected to reach full production capacity by 2025.
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EDF Renewables has secured a 20-year Energy Storage Power Purchase Agreement (PPA) with Arizona Public Service (APS) for the Beehive Battery Energy Storage System (BESS) located in Peoria, Maricopa County, Arizona. This stand-alone battery system will feature a 250 MW capacity with a four-hour duration and is slated to begin construction in 2025.
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ENGIE North America (ENGIE) and Meta have finalised an Environmental Attributes Purchase Agreement (EAPA). Under the agreement, ENGIE will supply 260 MW of renewable energy along with associated environmental attributes from the Sypert Branch solar project in Texas, supporting Meta’s net-zero goals.
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Sumitomo Corporation announced a joint venture (JV) with CEP Solar to deliver renewable energy projects across Virginia. This collaboration will enable Perennial and CEP to commercialise a portfolio of solar and battery storage assets exceeding 1.5 GW, with construction expected to begin in late 2025.
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Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II (CI GMF II), has made a final investment decision on a 220 MW/1,100 MWh battery energy storage system (BESS) located in the Antofagasta Region of northern Chile. The project has officially moved to the construction phase.
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Masdar has successfully concluded the acquisition of 50 per cent share in Terra-Gen Power Holdings II, LLC, a prominent independent renewable energy producer in US. This acquisition was made from Energy Capital Partners, which has now fully divested its stake in Terra-Gen. Igneo Infrastructure Partners retains its 50 per cent interest in the company.
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Utah has developed its first floating solar project in collaboration with the Mountain Regional Water Special Service District, featuring a 587.5 KW system installed on a holding pond at the Signal Hill facility. The project, backed by a $400,000 grant from Rocky Mountain Power’s Blue Sky Award program, will generate 871,086 kWh of clean energy annually.
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Powin is collaborating with BHE Renewables to provide energy storage solutions for one of the largest solar and storage microgrids, located in Ravenswood, West Virginia. This innovative project will supply renewable energy to Titanium Metals Corporation to produce titanium products for the aerospace industry.
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Iberdrola, through its US subsidiary Avangrid, has secured a 791 MW contract to develop the New England Wind 1 offshore wind farm. The project is expected to attract $3 billion in regional investments. Once operational, the project will deliver clean energy to 400,000 homes in Massachusetts.
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Vestas has secured an offshore wind contract with Equinor for the 810 MW Empire Wind 1 project in New York. The order includes the supply, delivery, and commissioning of the turbines, along with a comprehensive five-year service agreement to ensure optimal performance and long-term support.
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The California Public Utilities Commission (CPUC) has finalised the decision to establish an initial target of 7.6 GW for offshore wind energy procurement. These projects are anticipated to be operational between 2031 and 2037. Wind Farms off the coast of California will be floating wind farms, due to water depths. This initiative aligns with the state’s goal of deploying 25 GW of offshore wind by 2045.
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Swift Current Energy has secured a tax equity investment from Google for its Double Black Diamond Solar project, an 800 MWdc (593 MWac) initiative in southern Illinois. Situated 30 miles west of Springfield, Illinois, the project is currently under construction and is slated to begin commercial operations by early 2025.
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LS Power has finalised an agreement with Algonquin Power & Utilities Corp. (AQN) to acquire its renewable energy division. The Renewables Business primarily consists of wind and solar assets spread across the United States and Canada. This includes 44 operating assets with a total generating capacity exceeding 3,000 MW, along with an 8,000 MW pipeline of wind, solar, battery energy storage, and renewable natural gas projects at various stages of development.
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Fluence Energy and Excelsior Energy Capital have announced plans to deploy 2.2 GWh of battery storage projects across US starting in 2025. These projects will feature batteries, modules, and supporting systems manufactured domestically. Under the agreement, Fluence’s Gridstack Pro product line will be deployed by Excelsior to deliver firm capacity and flexible power to enhance the resilience of the U.S. electricity grid.
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Heliene and Premier Energies have announced a joint venture to establish a solar cell manufacturing facility in the United States. The new facility will have an annual capacity of 1 GW of NType cells to meet both companies’ requirements. This venture allows them to invest in the growing U.S. solar industry while capitalizing on clean energy incentives introduced under the Inflation Reduction Act of 2022.
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CWP Global has inked MoU with the Corner Brook Port Corporation (CPBC) to explore the potential for a green hydrogen hub in Canada. The Gwinya project aims to harness up to 5 GW of wind energy to produce green hydrogen and green iron, aligning with Newfoundland and Labrador’s economic and environmental goals.
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The US Department of the Interior (DOI) has approved the Atlantic Shores South offshore wind project off the New Jersey coast. The project encompasses two wind facilities capable of generating up to 2,800 MW of electricity which is sufficient to power nearly one million homes with renewable energy.
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Avangrid has received full federal approval from the US Bureau of Ocean Energy Management (BOEM) for the construction and operation of the New England Wind 1 and 2 offshore projects. The two projects will have a combined capacity of 2.6 GW, with 791 MW New England Wind 1 and 1,080 MW New England Wind 2.
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