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.
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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.
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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.
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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.
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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.
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Aggreko Energy Transition Solutions (ETS) has acquired Infiniti Energy, a US-based commercial and industrial solar company, from Upper Bay Infrastructure Partners, which has fully exited its position. This acquisition enhances Aggreko’s distributed solar capabilities and asset base by incorporating Infiniti’s expertise in solar design, engineering, procurement, and construction, along with its pipeline of onsite decarbonisation projects.
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Northland Power has concluded the sale of its La Lucha solar facility to Cometa Energía, a subsidiary of Saavi Energía. La Lucha is a 130 MW solar project located in Durango, Mexico. The facility commenced its commercial operations in June 2023. Furthermore, Northland Power had 100 per cent stake in the facility before the sale. The transaction was initially announced in March 2024. Additionally, the funds will be used to pay off the company’s revolving credit facility and for general business expenses.
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Savion has sold the 150 MW Cass County solar project to Ameren Missouri. The project is situated in Cass County near Beardstown, Illinois. It is expected to use up to 330,000 solar modules across approximately 1,700 acres, with approximately 600 acres outside the project fence to be vegetated and returned to farming use. The project is scheduled for completion by the end of 2024. During construction, it created around 250 local union jobs.
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Enbridge Inc. and Six Nations Energy Development LP, a new consortium comprising Cowessess First Nation, George Gordon First Nation, Kahkewistahaw First Nation, Métis Nation-Saskatchewan, Pasqua First Nation, and White Bear First Nations, have revealed plans to develop Seven Stars Energy wind project in southeast of Weyburn, Saskatchewan. The project is anticipated to generate 200 MW of clean energy.
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Innergex Renewable Energy has signed a deal with Irradiant Partners to divest minority interests in its 826 MW renewable energy portfolio in Texas. Innergex plans to sell 49.9 per cent of its stakes in the Phoebe and Griffin Trail facilities, along with 22.2 per cent of its interest in the Foard City facility, to Irradiant.
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Recurrent Energy has secured $513 million project financing for the 1,200 MWh Papago Storage project situated in Maricopa County, Arizona. Construction of the project is expected to begin in the third quarter of 2024 and commercial operations are anticipated to commence in the second quarter of 2025.
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Solarpack has officially connected the La Unión photovoltaic plant to the grid. This adds 144 MW of capacity in Montería, Colombia. The La Unión plant will produce electricity equivalent to the annual consumption of over 132,000 households. Additionally, the project will prevent more than 123,000 tonnes of carbon emissions. The project required an investment of $100 million. It now supplies clean energy to the Colombian electric grid.
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Pattern Energy has inked a 30-year Power Purchase Agreement (PPA) with Hydro-Québec for its 150 MW Broughton Wind project. The project is located in the municipalities of Saint-Pierre-de-Broughton, Sacré-Coeur-de-Jésus and Thetford Mines in Québec. The project will provide enough renewable electricity to power more than 25,000 homes in Québec annually and represents an investment of around $363.69 million.
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Actis has established Orygen. Orygen is an energy platform which will operate as an independent power producer in Peru. The establishment of Orygen follows Actis’ acquisition of a 92.35 per cent stake in Enel Generación Perú S.A.A. and 100 per cent ownership in Compania Energetica Veracruz last month. Furthermore, Orygen will begin operations with a 2.2 GW diversified energy generation installed capacity.
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McDermott has secured an Early Contractor Involvement (ECI) agreement from Abraxas Power Corporation for the Exploits Valley Renewable Energy Corporation project situated in Central Newfoundland, Canada. Furthermore, the commercial green hydrogen and ammonia facility will comprise the development of a wind farm with up to 530 turbines capable of generating 3.5 GW of electricity, along with a 150 MW solar photovoltaic installation.
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Plus Power has secured $133 million financing for the 150 MW / 300 MWh Cranberry Point facility in Carver, Massachusetts. It is a utility-scale standalone battery storage system in construction on the New England grid. The financing includes a construction-to-term loan, bridge loan, and letter of credit facility.
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Ørsted has completed the Helena Energy Center situated in Bee County, South Texas. It is a combined wind and solar project with a total capacity of 518 MW. The wind and solar centre is now fully operational and will produce enough renewable energy to power over 110,000 homes and businesses annually in Texas.
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Leeward Renewable Energy (LRE) has inked a 15-year Long-Term Resource Adequacy Agreement with Pacific Gas & Electric Company for LRE’s 112.5 MW Sierra Pinta Energy Storage project in Yuma County, Arizona. Sierra Pinta is next to LRE’s 179 MW White Wing Ranch Solar project, which is currently under construction. Sierra Pinta Energy Storage project aims to bolster renewable energy deployment and has a storage capacity of 450 MWh.
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Avangrid has entered into a Power Purchase Agreement (PPA) with CPS Energy. Under the agreement, CPS Energy secures a 161 MW portion of Avangrid’s Peñascal I wind farm in Kenedy County, Texas. The agreement represents an extension and expansion of a previous 15-year agreement between the two companies for energy from Peñascal I.
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Recurrent Energy has concluded the sale of its 49.9 MWp Middle Road solar project in UK to Centrica Business Solutions. The project is situated in Harbury, Warwickshire and is a subsidy-free project. The project is fully permitted and ready for construction, which is planned to commence in 2024. Commercial operations of the project are anticipated to begin in 2025. The project will generate enough green energy to power approximately 14,500 homes.
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