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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Wärtsilä, a Finnish energy provider, has won a contract from Clearway Energy Group to provide a 500MWac/2GWh energy storage portfolio for Clearway’s solar-plus-storage projects. The five solar-plus-storage sites are a combination of energy storage and solar photovoltaic (PV) resources, and they are situated in Hawaii and California. The Daggett II and Daggett III projects, with a combined solar PV capacity of 482MWac and 275MWac/1.1GWh of energy storage, are part of the portfolio.
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For the purpose of acquiring 1 GW of solar and wind energy, Entergy Arkansas, a utility in the US, has issued a request for proposals. Renewable energy would be purchased through one or more power purchase agreements that would be in operation between May 2025 and December 2026, as well as self-build alternatives and one or more build-own-transfer agreements.
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Onward Energy, a US-based energy company, and Global Atlantic Financial Group have signed a legally binding contract for Onward Energy to acquire all the cash equity interests in the 1.17 GW operational solar portfolio. A total of 11 solar projects, located across eight different US states, make up the solar portfolio. No financial details have been disclosed.
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Renewable energy project developer BQ Energy (BQE) has been purchased by US-based clean energy investment platform CleanCapital for an undisclosed amount. In accordance with the agreement, CleanCapital has acquired a 100 per cent ownership stake in BQE. In order to facilitate the energy transition, the company intends to support BQE’s pipeline of solar projects and to build on underutilised and polluted land.
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Voltalia, a French renewable energy company, intends to construct a solar PV cluster with a capacity of more than 1.5 GW in Minas Gerais, Brazil. Voltalia, located in the Arinos region, is developing a solar cluster for its own use as well as for third parties. The company has already formed alliances with a number of companies, including CTG Brasil, which will purchase a significant portion of the solar sites once the development phase is completed.
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The New York State Energy Research and Development Agency (NYSERDA) in the US has awarded three utility-scale solar photovoltaic projects to CS Energy, an Australian energy company. The three projects have a combined capacity of 270 MWac or 365 MWdc and were selected by NYSERDA as part of its fifth annual Renewable Energy Standard request for proposals.
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