The Biden-Harris administration approved the Maryland Offshore Wind Project, marking the tenth commercial offshore wind energy project under President Biden’s leadership. This brings the total approved offshore wind capacity to over 15 GW, half of the 30 GW goal set for 2030. These projects are expected to supply clean energy to 5.25 million homes.
Read More
Arevon Energy has secured $299 million in debt financing for its Ratts 1 and Heirloom Solar Projects in Pike County, Indiana. These projects will contribute 264 MW (MWdc) of renewable energy to the Midwest and MISO region. Construction has begun for these projects, and they are expected to be fully operational by the third quarter of 2025.
Read More
WEG has inked a supply agreement with Kroma Energia for the Arapuá photovoltaic solar complex in Brazil. The complex is valued at approximately R$630 million. The Arapuá solar facility is located in Vale do Jaguaribe, Jaguaruana – CE, Brazil. The project has an installed capacity of 250 MWp and is expected to produce approximately 537 GWh annually. Commercial operations are slated to commence in the first quarter of 2026.
Read More
Power Sustainable Energy Infrastructure (PSEI) and EDF Renewables North America (EDF Renewables) have announced the initial phase of their strategic investment. PSEI has acquired a 50 per cent share in the Desert Quartzite Solar+Storage Project. The project is currently in its construction phase and is situated in Riverside County, California.
Read More
Avantus and Toyota Tsusho America (TAI) have officially commenced construction on the 159 MWdc/125 MWac Norton Solar Project located in Runnels County, Texas. This follows Avantus’ sale of the Norton project to TAI in November 2023, a fully-owned subsidiary of Toyota Tsusho Corporation of Japan, part of the Toyota Group. Additionally, TAI has secured construction and term financing through a deal with global financial giant Mitsubishi UFJ Financial Group.
Read More
Tucson Electric Power (TEP) is planning to build a second large-scale battery system in southeast Tucson to store solar and other energy sources for use later in the day, meeting customers’ peak energy demands. The 200 MW Roadrunner Reserve II system will have the capacity to store 800 MW hours of energy, which is sufficient to power around 42,000 homes for four hours when operating at full capacity.
Read More
The US Department of Energy’s (DOE) Loan Programs Office (LPO) announced a provisional agreement for a loan guarantee of up to $1.45 billion, aimed at supporting Qcells’ awaited solar supply chain manufacturing plant in Cartersville, Georgia. Once finalised, the Loan Programs Office would assist Qcells in the construction of a facility dedicated to manufacturing the entire solar supply chain.
Read More
Ørsted has revealed a strategic collaboration with Mission Clean Energy to develop four independent battery energy storage systems in the Midwest. Mission Clean Energy seeks to utilise Ørsted’s vast operational expertise and resources to make these projects a reality. Ørsted will use its funds to obtain and uphold interconnection queue positions for the four storage projects owned by Mission, as Mission will still be in charge of developing the projects.
Read More
JERA Nex has purchased two US solar projects with a combined capacity of 395 MW from Lightsource bp. The transaction has gained all regulatory clearances, is JERA Nex’s first since its establishment in April. It includes its first US solar assets: the 300 MW Oxbow solar farm in Louisiana and the 95 MW Happy solar farm in Arkansas. Furthermore, both the plants are commercially operational and provide renewable energy to their clients.
Read More
Iberdrola, ICO, Sabadell, and HSBC have finalised a 15-year syndicated green loan agreement totalling €500 million. The loan is supported by Cesce through its Green Investment Policy on behalf of the State and is guaranteed by the Internationalisation Risk Reserve Fund (FRRI), which is associated with the Ministry of Economy, Trade, and Enterprise. The loan will finance wind, photovoltaic, and battery projects in the US, Australia, and Italy, with a combined capacity of 897 MW and is anticipated to be functional between 2025 and 2026.
Read More
Eolian has announced the closing of a $315 million renewable energy green loan and a $75 million revolving credit facility with Santander Corporate & Investment Bank, MUFG, National Australia Bank, Natixis, Lloyds Bank, and SMBC. The fund raised is secured through a wide range of eligible green project assets developed by Eolian and aligns with the four pillars of the Green Loan Principles, as jointly published in the Asia Pacific Loan Market Association (APLMA), the Loan Market Association (LMA) and the Loan Syndications and Trading Association (LSTA) in February 2023.
Read More
Clearway Energy Group has secured a 25-year power purchase agreement (PPA) with Puget Sound Energy (PSE) for the 315 MW Haymaker wind farm in Montana. Upon becoming operational, the Haymaker wind farm will generate sufficient electricity to supply for over 116,000 households annually. The construction of the project is set to commence in 2026, with commercial operations projected to begin by 2028.
Read More
Clearway Energy Group has secured over $700 million in financing and begun construction on two major projects in California: the 200 MW Luna Valley solar project in Fresno County and the 113.5 MW Daggett Storage battery project in San Bernardino County, which finalises up the 482 MW Daggett Solar + 394 MW Storage complex. San Diego Gas & Electric inked 15-year contracts for equal amounts of solar power and energy storage from both the Luna Valley and Daggett Storage 1 projects.
Read More
Tesla and Intersect Power have signed a contract to supply 15.3 GWh of Tesla’s Megapack battery energy storage systems for Intersect Power’s solar + storage project portfolio . By the end of 2027, Intersect Power is expected to deploy 10 GWh of large-scale energy storage. Intersect Power plans to use over half of the new Megapacks order for four projects in California and Texas, which are anticipated to be operational by the end of 2027.
Read More
The U.S. Department of Energy (DOE) and ARCHES have inked a $12.6 billion agreement to establish a clean, renewable Hydrogen Hub in California. This deal includes up to $1.2 billion in federal funding announced in 2023. This makes ARCHES as the first of seven national Hydrogen Hubs to finalise its agreement with the DOE.
Read More
Intersect Power has secured $837 million through two separate transactions to finance the construction and operation of three standalone Battery Energy Storage Systems (BESS) in Texas. This financing includes portfolio-level construction debt, tax equity, and term debt, provided by leading industry partners. The three BESS projects – Lumina I, Lumina II, and Radian are scheduled to be operational in 2024.
Read More
Leeward Renewable Energy (LRE) has closed a $1.25 billion construction warehouse facility to support its aspirations to install more than 890 MW of wind, solar, and battery storage capacity. The capital will support the firm’s operational portfolio over a three-year period, as part of its multi-year expansion strategy.
Read More
Grenergy has secured $345 million in green financing for its Oasis de Atacama project, along with additional credit lines. The loan was provided by a group of international banks including BNP Paribas, Natixis Corporate & Investment Banking, Societe Generale, The Bank of Nova Scotia, and SMBC. Furthermore, the project is situated in northern Chile, and is anticipated to provide electricity for over 145,000 households yearly.
Read More
Elecnor secured a contract in Mexico for the engineering, supply, and construction of the Cimarrón wind farm, which will have a capacity of 320 MW. The project is currently under construction and is situated in La Rumorosa and the municipality of Tecate, Baja California. Additionally, the wind farm has a 20 year power purchase agreement with Silicon Valley Power to provide renewable energy to Santa Clara, California.
Read More
Ørsted has completed the acquisition of Eversource’s 50 per cent stake in the Sunrise Wind project. It is a 924 MW offshore wind farm situated off the coast of New York. This acquisition follows the successful award of Sunrise Wind in New York’s fourth solicitation for offshore wind capacity. Furthermore, the purchase price for buying Eversource’s share at closing was $152 million.
Read More