Glentra Capital has acquired a majority position in Third Pillar Solar Renewables LLC, a US-based floating solar developer with a pipeline of projects with a capacity ranging from 3 MW to 200 MW. According to the company’s statement, the bet was made as part of its plan to invest in renewable development platforms with strong management teams and a compelling pipeline of projects.
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Grenergy has inked a new hybrid PPA to supply green energy for 15 years to an international utility with an investment-grade credit rating. With this agreement, Grenergy has accumulated contracts worth €2.7 billion. Under this agreement, the company will supply about 8 TWh over 15 years.
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EDP Renewables North America (EDPR NA) and EDP Renewables Canada (EDPR Canada) have started operations at the 297 MW Sharp Hills wind farm in Sedalia and New Bridgen in Alberta, Canada. The power will be supplied to TC Energy, a Calgary-based company that operates in natural gas, oil, and power. The launch of the Sharp Hills wind farm follows a memorandum of understanding between EDPR NA and the Invest Alberta Corporation. A C$600 million investment was made to build the wind farm.
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Scale Microgrids has inked a definitive agreement with Gutami to acquire 500 MW of distributed solar and storage projects across multiple states including California and New York. Scale and Gutami have executed an expansion agreement following their existing 100 MW partnership in New York.
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The Senator for Rhode Island in the US has released a discussion draft of his bill to improve the offshore wind development process in the state. The discussion draft seeks feedback from federal, state and local agencies, as well as industries, developers and surrounding communities.
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HASI has announced its plans to invest in a portfolio of renewable energy assets developed, owned and operated by AES. As per the agreement, HASI will make a structured equity investment in an approximately 605 MW portfolio of solar and solar-plus-storage assets spanning seven power markets and 11 states.
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Equinor and bp have announced an agreement with the New York State Energy Research and Development Authority (NYSERDA) to terminate the Offshore Wind Renewable Energy Certificate (OREC) Agreement for the Empire Wind 2 project, an offshore wind project in the US with a total capacity of 1,260 MW.
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Waaree Energies, an Indian energy solutions provider, is planning to build a new solar PV module manufacturing facility in the US state of Texas. The facility will be located in Brookshire and is projected to have an initial capacity of 3 GW per year. The facility is slated to begin operations by the end of 2024.
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Pattern Energy has concluded an $11 billion non-recourse financing and begun full construction of SunZia Transmission and SunZia Wind project. SunZia Transmission is a 550-mile ±525 kV high-voltage direct current transmission line.
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ERG is entering the US market through an alliance with Apex Clean Energy, which will see it acquire 317 MW of wind and solar assets. A US-based holding company, including a wind farm and a solar plant, will be set up under the agreement. The portfolio includes 317 MW of installed capacity.
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TotalEnergies has signed a second contract with LyondellBasel to supply a combined 275 MWac (358 MW) of green electricity sourced from its utility-scale Cottonwood Bayou and Brazoria Solar farms in Texas. Through the newly signed 15-year CPPA, LyondellBasell will offtake 163 MW from Brazoria Solar farm, located southwest of Houston, with a capacity of 325 MW and a commercial start-up planned for end of 2025.
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Hawaiian Electric will commence negotiations for contracts with the developers of 15 renewable energy projects on Oahu, Hawaii Island, and Maui, which will lower Hawaii’s reliance on imported oil for electricity generation substantially. A number of Oahu and Hawaii island projects make use of stable renewable energy sources, which can generate clean electricity even in the absence of wind or sunshine.
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bp has agreed to acquire the remaining 50.03 per cent interest in Lightsource bp. Full ownership will now enable bp to further scale up Lightsource bp and create additional value by applying bp’s complementary capabilities and strengths including in finance and trading fully to the business. bp will continue to target double digit equity returns from this business.
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Excelsior Energy Capital has announced that it has concluded a financing package of $1.3 billion on the Faraday Solar project in Utah County, Utah. Reportedly, Excelsior acquired Faraday Solar earlier in 2023 from Parasol and Clenera who developed the project. Faraday Solar is a 682.5 MW ground-mounted solar facility. Furthermore, the project is contracted under an investment grade long-term power purchase agreement.
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Grenergy has unveiled its growth plans, closely linked to its strategic commitment to energy storage, which is key to advancing the decarbonisation of the energy system for a green and sustainable future. As part of the event, the company announced an investment of €2.6 billion until 2026. Of the total, €1.5 billion will be allocated to the development of its portfolio of photovoltaic projects and €800 million to boost battery storage.
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Copenhagen Infrastructure Partners (CIP), on behalf of its Copenhagen Infrastructure IV (CI IV) fund, has begun construction on Buffalo Plains. It is a 495 MW wind farm consisting of 83 Siemens-Gamesa turbines located in Vulcan County, Alberta. CIP had acquired Buffalo Plains in 2022 from ABO Wind.
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Bila Solar, a Singapore based solar module manufacturer is investing $35m on a plant in Indianapolis, Indiana, which has the capacity to produce 1 GW of glassless, frameless solar modules. It plans to renovate an existing 150,000ft² facility at White River Parkway East Drive, Indianapolis. The plant, which is anticipated to be fully operational in summer 2024.
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Engie, a French utility company, has purchased Texas-based battery energy storage firm Broad Reach Power for $1 billion. This transaction is expected to close in the fourth quarter of this year, subject to approval from the antitrust and energy regulatory authorities. Broad Reach Power develops and operates clean energy and energy storage projects across Texas, California, and other markets in the US.
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A consortium led by Ford, including South Korea’s EcoPro BM and SK Innovation, has announced its intention to establish a CAD 1.2 billion cathode manufacturing facility in Canada. The plant will be located in Becancour, Quebec, Canada. The project is being built on 280,000-meter square land. The facility, which will comprise a six-floor building, will commence operations in the first half of 2026.
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The Canadian government has unveiled a set of clean electricity regulations (CER) to accelerate the switch to renewable energy and help achieve the country’s goal of reaching net-zero by the year 2035 by reducing emissions. The country is already producing 84 per cent of its electricity by utilising renewable sources such as wind, hydropower, and nuclear power.
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