Siemens Energy has announced plans to start producing transformers in the US in 2025 to meet increased electricity demand. The German energy company intends to establish its first transformer production facility in Charlotte, North Carolina, and expand its power manufacturing facility there, investing $150 million in the process.
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The US Department of Energy (DOE) will invest $4.75 million to construct a new offshore wind research centre as the government seeks to accelerate the development of renewable technologies across the country. The funds will be used to establish the Academic Centre for Reliability and Resilience of Offshore Wind (ARROW), led by the University of Massachusetts Amherst. As per DOE, the center’s primary objectives are to grow the workforce, conduct targeted research, and establish partnerships and ways to integrate equity into offshore wind development.
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SolAmerica Energy has inked an agreement to procure 205 MW of high-performance, responsibly produced Series 6 Plus and Series 7 thin film solar modules from First Solar. Furthermore, the deal was finalised prior to the release of First Solar’s third quarter of 2023 earnings, and the modules are planned to be delivered in 2024 and 2025.
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Dominion Energy, a US utility, received the final two regulatory approvals required to begin work on the 2.6 GW CVOW project. Both the US Army Corps of Engineers and the US BOEM granted its clearance. The project’s construction and operations plan, which grants offshore construction activities, has received final approval from the BOEM.
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Recurrent Energy, part of Canadian Solar, has obtained a $500 million investment commitment from BlackRock’s Climate Infrastructure Fund. Recurrent Energy will have 20 per cent of its capital made up of preferred equity investments, which are convertible into common stock. Canadian Solar will hold the remaining capital. Recurrent Energy will be able to construct more projects thanks to BlackRock’s funding, especially in the US and Europ
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Intersect Power began the commercial operation of its Lumina Solar project, located in Scurry County, TX, on January 3, 2024. The Lumina project generates 828 MWp/640 MWac of reliable solar energy, enough to power more than 243,000 homes for one year. The project created more than 900 jobs at peak construction.
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Pattern Energy has ordered 2.4 GW turbines from GE Vernova’s onshore wind business for its SunZia wind project in New Mexico, US. Pattern is developing the SunZia Wind project, which has a capacity of over 3.5 GW overall. The wind project will be connected to SunZia Transmission, a 3 GW-capable, 885 km-long, 525 kV HVDC line. The wind project is situated in the New Mexico counties of San Miguel, Lincoln, and Torrance.
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Enel through its wholly-owned subsidiary Enel Green Power North America Inc. (EGPNA) has finalised an agreement with ORMAT Technologies Inc. on the sale of a renewable asset portfolio for a total consideration of €250 million, subject to customary transactional adjustments in the United States.
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New Mexico Renewable Development (NMRD), a renewables joint venture (JV) between American Electric Power (AEP) and PNM Resources (PNM), will be sold to Exus North America for $230 million. Through this deal, AEP and PNM will sell their 50 per cent stakes in NMRD, which consists of 15 solar projects totaling 625 MW in capacity.
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Honeywell revealed that it will supply VIElectron with its first batch of battery energy storage solutions (BESS) to six solar parks placed strategically throughout the US Virgin Islands. After construction is finished, the solar array and BESS will contribute to the islands’ decarbonisation efforts by supplying 30 per cent of their energy needs from renewable sources.
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Swift Current Energy has announced that New York State Energy Research and Development Authority (NYSERDA) has awarded its Mineral Basin Solar project a 20-year power contract. Mineral Basin Solar is the largest land-based energy project to be selected as a part of NYSERDA’s competitive solicitation.
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Repsol, a Spanish energy company, has acquired ConnectGen, a US-based renewable development company, from Quantum Capital Group for $768 million. The 20 GW of onshore wind, solar, and energy storage projects in ConnectGen’s development pipeline will help Repsol reach its goal of 20 GW of renewable capacity by the end of the 2020s.
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ICG, a leading global alternative asset manager, has signed a contract with Enfinity Global to invest $483 million in equity to funding Enfinity’s near-term growth and the implementation of its business strategy. This investment will help support Enfinity Global’s balance sheet to expedite the completion of its 17 GW portfolio, including 7.3 GW of energy storage assets.
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ACCIONA Energía, a Spanish renewables developer, has obtained a 280 MW Forty Mile wind farm in Bow Island, Forty Mile County, Alberta, Canada, from Renewable Energy Systems (RES) Canada. On behalf of ACCIONA Energa, RES will continue to work on the project as the contractor for building the remaining portions of the plant. The operation is anticipated to begin in early 2025.
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Recurrent Energy, a subsidiary of Canadian Solar has secured financing of $112 million for the 120 MW North Fork solar plant in Oklahoma from NordLB and Rabobank. Together with Rabobank, NordLB served as the coordinating lead and joint lead arranger for the project. Moreover, the Oklahoma Municipal Power Authority will buy the solar plant’s power under a 15 year contract.
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Origis Energy, a US renewables platform, has begun working on a 200 MW solar farm at the site of a previous coal-powered plant near Grants, New Mexico. Tri-State Generation and Transmission Association, a cooperative engaged in the supply of wholesale electricity, is the beneficiary of the Escalante Solar Project. It will make enough electricity to run around 40,000 households using nearly about 500,000 modules.
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Copenhagen Infrastructure Partners (CIP), a Danish investment company, has confirmed plans to set up a large-scale green hydrogen plant in Mexico’s south-eastern Oaxaca region. This announcement was made just two days after President Andrés Manuel López Obrador revealed the initiative in a letter to US President, Joe Biden.
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Rondo Energy, a zero-carbon industrial power and heat provider, has secured $60 million in a new funding to accelerate the introduction of Rondo heat batteries to transform the market for energy storage globally. In order to set up storage projects globally, the company received funding from Energy Impact Partners, Breakthrough Energy Ventures, SCG, and TITAN.
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IRG Acquisition Holdings (IRGAH), a partnership between CDPQ, American power generation company Invenergy, and funds managed by Blackstone Infrastructure Partners has announced that it has acquired American Electric Power’s (AEP) unregulated renewables portfolio for $1.5 billion. This comprehensive deal encompasses 14 wind and solar projects, totaling a capacity of 1200 MW and 165 MW, respectively.
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Walmart has announced the opening of a green hydrogen plant in Santiago, Chile, at its Quilicura Distribution Centre. The project has been developed in collaboration with power generation company, Engie. The project considered an investment of around $15 million. The distribution centre will be allowed to use hydrogen energy cells in place of lead-acid batteries of 200 forklift cranes in its first phase.
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