Amazon announced nine new utility-scale wind and solar energy projects in the United States Canada, Spain, Sweden, and the UK. The current announcement now means that the company has 206 renewable energy projects in the world with a cumulative capacity of about 2.5 GW.
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Talen Energy Corporation has entered a joint venture with Pattern Energy Group LP for expansion of its renewable energy portfolio. The new venture, PT Energy Transitions, will pursue the development, financing, construction and operation of approximately 1.4 GW of utility-scale renewable energy projects over the next five years.
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Despite the immense obstacles, U.S. local governments bought more renewable energy in 2020 than ever before, according to new data from the Local Government Renewables Action Tracker. Nearly 100 cities and counties across 33 states completed 143 deals, adding 3,683 megawatts (MW) of renewable energy capacity.
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Buckeye Partners and Nala Renewables will together acquire majority ownership of Swift Current Energy, a North American clean energy development and investment platform. As part of this transaction, Swift Current Energy’s management team will retain a minority ownership in the company through their holding company, Lookout Ridge Energy Partners. The same team will also remain in place as the company’s management.
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Rice Acquisition Corp,a special purpose acquisition company (SPAC), has announced an agreement with Aria Energy and Archaea Energy to create a renewable natural gas (RNG) platform in the United States. The transaction is expected to close by the end of 2021 and the combined company will be listed on the NYSE under the ticker symbol “LFG”. It aims to capture and convert waste emissions from landfills and anaerobic digesters into low-carbon RNG, electricity, and green hydrogen.
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With the rapidly increasing solar PV capacity in the U.S. the volume of modules is also expanding significantly and so is the problem of their safe disposal. There has been a growing awareness regarding the recycling of PV modules either to extract their precious metals or to manufacture new modules once the old ones reach their end of life. These concerns have enabled government- and industry-led discussions, policies, and initiatives on recycling-based resource recovery of PV modules in the U.S.
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Madison Gas and Electric and two of the WEC Energy Group’s subsidiaries plan to buy a solar project located in Walworth County. The Wisconsin utilities plan to spend $446 million on a 250 MW capacity solar project with battery storage.
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Nexamp, US community solar provider, has finalised a $440 million debt financing for a solar and energy storage portfolio with a cumulative capacity of 380 MW. The portfolio is spread across five states in the United States and consists of about 100 community solar projects and energy storage projects of 120 MWh.
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Wells Fargo has announced that it has set a goal of net-zero greenhouse gas emissions, including its financed emissions, by 2050. With combating climate change being a major focal point, Wells Fargo has five areas in which it aims to channel its efforts. To help meet the target goal, the company will measure and disclose financed emissions for select carbon-intensive portfolios, set interim emission reduction targets, deploy more capital to finance climate innovation and continue to work with its clients on their own emissions reduction efforts.
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The U.S. Department of Energy (DOE) has pledged about $100 million to fund research and development of transformative clean energy technology. The announcement is in line with the newly formed government’s agenda to curb climate change. The funding will be used to identify innovative clean energy technology to combat the climate crisis. The DOE also announced that it would participate in the National Climate Task Force’s Climate Innovation Working Group. Through this, it aims to coordinate government-wide efforts in developments such as net-zero carbon buildings, battery storage, lower-cost green hydrogen, and direct air capture to help the United States reach net-zero emissions by 2050.
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United States-based power generation developer, investor and operator NTE Energy has announced its plans to develop more than 5 GW of clean energy projects in the next five years. It is planning to develop a clean energy pipeline of 1.2 GW solar and 3.9 GW battery energy storage systems. The company expects 3 to 4 GW of these projects to come online by 2026.
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Rather than taking a backseat, state leadership must now continue alongside a more supportive federal government, allowing the US to achieve deeper emissions reductions through a new climate federalism framework that leverages comparative strengths at different levels of governance. Here are seven high-impact policies to watch in 2021, as well as federal programs and policies that can encourage and reinforce state-level climate action plans.
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UAE based energy company Masdar has achieved the first close on an acquisition of a clean energy portfolio from EDF Renewables North America. The transaction involves the acquisition of 50 per cent of a total 1.6 GW project portfolio in the United States. This follows a decision made by the companies last year to partner for eight renewable energy projects in the United States.
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While the exact amount of DCFC the United States needs is still up for debate, there is no question that it will be much more than the 17,000 fast-charging plugs currently installed. Over half of these are owned by Tesla and a third of them are in California. This state alone is projected to need as many as 25,000 public fast-chargers by 2025 to meet its goal of 5 million EVs on the road by 2030.
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Loanpal has announced that it has raised has secured over $800 million in funding in its first external investment round. The investment rounds were conducted by NEA, WestCap Group, Brookfield Asset Management, Riverstone Holdings, and other private investors.The company’s point-of-sale payment platform allows businesses to deploy sustainable home solutions along with its digital tools. It also provides flexible payment options to remove the cost barrier for homeowners and create a channel for financial institutions to deploy their capital in environmental, social, and governance assets.
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Israel-based OPC Energy recently announced the closure of its acquisition of Competitive Power Ventures (CPV) from Global Infrastructure Partners (GIP) after receiving the required regulatory approval. With this transaction OPC fully owns CPV’s operating assets, development pipeline and asset management business. OPC has partnered with three Israeli institutional investors to carry out this acquisition.
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The series takes a deep dive into the transportation electrification policies New Jersey will need to meet its ambitious climate laws. Together, they explore whether New Jersey needs more ambitious transportation electrification goals, the state’s existing plans to realize their goals, and the next steps New Jersey should take to decarbonize its transportation system. Ultimately, this blog series aims to holistically examine electrifying all segments of the transportation sector.
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Spain-based energy group Naturgy has acquired 100% of the economic interests in Hamel Renewables, a renewable energy company specialising in solar and energy storage. This transaction marks Naturgy’s entry into the United States renewable energy market as this is its first investment here.
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The French energy giant Total and 174 Power Global, a subsidiary of Hanwha Group, formed a 50:50 joint venture to develop a 1.6 GW project in the United States, including 12 utility-scale solar arrays and energy storage devices.
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United States based independent power producers Novatus Energy and Southwest Generation have announced the completion of their merger to create a new energy platform. The new platform, called Onward Energy, will continue under common ownership by institutional investors advised by J.P. Morgan Asset Management.
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