Ashtrom Commissions Texas Solar Plant; Sabanci Lands $137 Million For Solar Plant; BayWa r.e. Hands Over 200 MW AC Project To NGM; ContourGlobal Forays Into US RE Market; Qcells Sells 142 MW Project; TotalEnergies Commissions 1.2 GW Solar In US; BLM Seeks Comment On 117 MW Project; $500 Million Financial Close For Recurrent Energy.
Google has entered a 12-year PPA and REC offtake agreement with energyRe for a 435 MW DC project. (Photo Credit: Google)
Another solar PPA for Google: Technology behemoth and a leading corporate offtaker for renewable energy globally, Google has signed a 12-year power purchase agreement (PPA) with New York-based energyRe for a 435 MW DC solar project. To be developed, owned and operated by energyRe, the project will supply electricity and Renewable Energy Credits (REC) to Google to power the equivalent of more than 56,000 homes. The deal was facilitated through LevelTen Energy’s Accelerated Process (LEAP), co-developed by Google LevelTen Energy to make clean energy buying and selling more efficient. The deal is aligned with Google’s goal to run on carbon-free energy on every grid where the company operates, 24×7 by 2030.
400 MW DC project online in Texas: Independent power producer (IPP) Ashtrom Renewable Energy, a subsidiary of Israel’s Ashtrom Group, has commissioned 400 MW DC/306 MW AC Tierra Bonita Project in Texas. It is the company’s 1st US project. The Pecos County located facility was commissioned ahead of schedule for an investment worth $435 million, of which the company invested $165 million in equity. CPS Energy will offtake 60% of the generated electricity from 180 MW AC capacity under a 20-year power purchase agreement (PPA). Ashtrom Renewable Energy CEO Yitsik Mermelstein said, “Through innovative agreements like the sale and transfer of production tax credits under the Inflation Reduction Act, we are further maximizing the project’s financial and environmental impact.”
$137 million for Texas solar project: Sabanci Renewables has secured a $137 million investment from impact investment firm Advantage Capital to finance its 232 MW DC Oriana Solar Project. It is currently under construction in Victoria County, Texas. It is scheduled to enter operations in Spring 2025. Advantage Capital’s investment leverages Investment Tax Credits (ITC) under the Inflation Reduction Act (IRA). It will also provide the remaining capital to Sabanci to complete the project’s construction.
BayWa commissioned the TS Solar Array Project (in the picture) for Nevada Gold Mines in 2 phases. (Photo Credit: BayWa r.e.)
260 MW DC project changes hands in Nevada: German renewable energy group BayWa r.e. has commissioned and handed over a 260 MW DC/200 MW AC solar project in Nevada, US to Nevada Gold Mines (NGM). The latter is operated by Barrick Gold Corporation. Phase I of the project was energized in December 2023, and phase II in June 2024. It has the capacity to produce 17% of NGM’s annual power demand, cutting its carbon emissions by 234 kilotons/year.
ContourGlobal acquires US solar projects: A KKR-backed company, IPP ContourGlobal has entered the US renewable energy market with the acquisition of a 151 MW solar portfolio of 2 projects in South Carolina from Sun Tribe Development. Together, these facilities will generate more than 272,000 MWh/year when they go online in 2029. ContourGlobal says it manages over 5.6 GW of installed electricity generation capacity across 18 countries in Europe, Africa, Asia, and South America.
PSE buys 142 MW solar plant: Washington state’s largest utility company Puget Sound Energy (PSE) has purchased the 142 MW Appaloosa Solar Project from Qcells in Garfield County, co-located with PSE’s existing Lower Snake River Wind facility. This will become Washington’s largest co-located solar project, according to the duo. Qcells will supply its US-manufactured modules for this project, along with its EPC services.
TotalEnergies’ 2 new solar projects in the US, Danish Fields and Cottonwood, are located near the company’s industrial plants that will offtake solar energy from the Danish Fields project. (Photo Credit: TotalEnergies)
1.2 GW RE capacity online: French energy group TotalEnergies recently commissioned 2 utility-scale solar farms with integrated battery storage capacity in Southeast Texas. The 720 MW Danish Fields project with a 225 MWh battery energy storage system (BESS) is the company’s largest solar farm in the US. Its subsidiary Saft has provided the battery system for this project. TotalEnergies has signed on Saint-Gobain and other corporates as offtakers for 70% of the Danish project’s total solar capacity under a long-term corporate PPA. The French company will use the remaining 30% of the capacity to support the decarbonization of its industrial plants in the US Gulf Coast region. The other project TotalEnergies has commissioned in the US has 455 MW capacity. Saft will supply a 225 MWh storage system for this project that’s scheduled to come online in 2025. Both Saint-Gobain and LyondellBasell are offtakers for this project.
117 MW solar project in California: The US Bureau of Land Management (BLM) has invited public comment on the draft environmental assessment for a 117 MW solar power plant in Riverside County, California. Proposed by EDF Renewables Development, the project will be accompanied by a battery energy storage system. The Sapphire Solar Project will be grid-connected and contribute to clean energy development in the California desert. Written comments can be emailed or delivered to the BLM by November 4, 2024, as per information on its website. BLM counts to have approved close to 29 GW of clean energy projects on public lands, having exceeded the administration’s goal of permitting 25 GW of renewable energy capacity by 2025.
Recurrent & BlackRock deal closed: Canadian Solar subsidiary Recurrent Energy has announced the financial close of a $500 million investment in the company by BlackRock. The transaction was announced in January 2024 by BlackRock’s Climate Infrastructure business. In June 2024, the 1st payment was announced (see North America Solar PV News Snippets). With the financial close, now BlackRock owns a 20% stake in Recurrent with Canadian Solar being the majority stakeholder with a 80% stake. Recurrent sees this investment backing its efforts to transition from a pure developer to a developer plus long-term owner and operator in select markets in the US and Europe.
Source from Taiyang News
Disclaimer: The information set forth above is provided by Taiyang News independently of Alibaba.com. Alibaba.com makes no representation and warranties as to the quality and reliability of the seller and products. Alibaba.com expressly disclaims any liability for breaches pertaining to the copyright of content.
