Category: News America

BlackRock agrees to invest $500 million in Canadian solar unit

BlackRock agrees to invest $500 million in Canadian solar unit

January 24, 2024 | , ,

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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GE Vernova wins turbine supply order for SunZia wind project in the US

GE Vernova wins turbine supply order for SunZia wind project in the US

January 10, 2024 | , ,

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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Honeywell to foster decarbonisation of Virgin Islands in the US

Honeywell to foster decarbonisation of Virgin Islands in the US

December 12, 2023 | , , ,

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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Repsol acquires ConnectGen for $ 768 million

Repsol acquires ConnectGen for $ 768 million

September 8, 2023 | , ,

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 pledges €400 million to Enfinity Global to fund its near-term growth

ICG pledges €400 million to Enfinity Global to fund its near-term growth

September 7, 2023 | ,

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 wins 280 MW Canadian wind farm from RES

ACCIONA Energía wins 280 MW Canadian wind farm from RES

September 4, 2023 | , ,

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 obtains financing for 120 MW Oklahoma solar project

Recurrent Energy obtains financing for 120 MW Oklahoma solar project

September 4, 2023 | , ,

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 commences 200 MW solar farm construction in New Mexico

Origis commences 200 MW solar farm construction in New Mexico

September 1, 2023 | , ,

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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IRGAH buys AEP’s renewable portfolio for $1.5 billion

IRGAH buys AEP’s renewable portfolio for $1.5 billion

August 17, 2023 | , ,

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 opens green hydrogen plant in Santiago

Walmart opens green hydrogen plant in Santiago

August 16, 2023 | , ,

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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SUSI, SMT secure funding for battery storage in Texas

SUSI, SMT secure funding for battery storage in Texas

August 10, 2023 | , ,

SUSI Partners, a Swiss-based investment management firm, along with its joint venture partner SMT Energy, has signed a tax equity financing agreement for a 100 MW battery storage portfolio in Texas, US. SUSI secured the funding from Greenprint Capital on behalf of the SUSI Energy Transition Fund. The portfolio comprises ten utility-scale standalone battery energy storage projects.

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Swift Current raises $779 million for solar project in the US

Swift Current raises $779 million for solar project in the US

August 10, 2023 | , ,

Swift Current Energy, a utility-based renewable developer in the US, has raised $779 million for its 800 MW DC (593 MW AC) solar project namely Double Black Diamond. The project is located 30 miles west of Springfield, Illinois. Mitsubishi UFJ Financial Group, Société Générale, and Truist provided the finance. An $84 million letter of credit facility and $695 million in construction and tax equity bridging loans are included in the package.

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Scatec and partners start construction of 531 MW solar facility in Brazil

Scatec and partners start construction of 531 MW solar facility in Brazil

July 12, 2022 | , ,

The 531 MW Mendubim solar project in Rio Grande do Norte, Brazil, is currently being developed by the Norwegian renewable energy company Scatec and its partners. Equinor and Hydro Rein are partners in the project’s development. The three firms will jointly provide engineering, procurement, and construction services while also each holding a 33.3 per cent economic interest in the solar power project.

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US DoE launches a $500 million mines-to-clean energy programme

US DoE launches a $500 million mines-to-clean energy programme

July 5, 2022 | , ,

On current or former mine lands across the country, the US Department of Energy (DoE) will construct clean energy projects as part of a $500 million programme. The initiative will support a number of technologies, including solar PV, microgrids, and/or energy storage, and at least two funded projects must use solar energy. In order to provide the projects, the DoE is investigating options for domestic solar manufacturers.

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