Trinity Capital has announced the commitment of $50 million in equipment financing to Electric Hydrogen, a manufacturer of electrolyzer systems that produce green hydrogen for critical industries. Electric Hydrogen’s electrolyzer systems are complete chemical plants that produce green hydrogen from renewable electricity and water, allowing for the decarbonization of industrial processes.
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Stonepeak has finalised an agreement with Dominion Energy to acquire a 50 per cent stake in its Coastal Virginia Offshore Wind project (CVOW) through the formation of an offshore wind partnership. CVOW is a 2.6 GW offshore wind project 27 miles off the coast of Virginia Beach, Virginia capable of serving the power needs of 660,000 homes.
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Arevon Energy has secured more than $1 billion in aggregate financing commitments for Eland 2 Solar-plus-Storage Project in Kern County, California. The 374 MWdc solar project coupled with 150 MW/600 MWh of energy storage is under early-stage construction and is anticipated to come online in the first quarter of 2025.
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SynerGen Solar, a US renewable energy company, and EPCOR USA, a regional utility, announced their partnership for a solar project in eastern New Mexico that aims to generate up to 90 MW of energy. The partners are preparing roughly 485 acres of EPCOR-owned land close to Clovis for SynerGen’s potential construction site.
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NorthRenew Energy, a US utility-scale renewable energy producer, has sold its 300-MW-plus Arco Wind and Solar project in southeastern Idaho to utility PacifiCorp, a Berkshire Hathaway Energy subsidiary. NorthRenew recently announced the deal, highlighting that it is the company’s ninth project sale since its founding in 2017.
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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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