NYSERDA signs contracts for 2.3 GW RE projects; US’ largest proposed solar project moves forward; Fuyo General to finance 350 MW community solar; Invenergy bags 760 MW Meta contract; Financial close for Longroad’s Arizona project; Brookfield Renewable issues CAD 200 million green bonds.
New York’s clean energy jobs: At the end of 2023, the New York State had 178,000 workers employed, according to the 2024 New York Clean Energy Industry Report. It was released recently by the New York State Energy Research and Development Authority (NYSERDA). The cumulative number of jobs in the sector grew by 5% year-on-year (YoY) which it says is more than double the statewide economic growth rate. Solar continues to be the largest source of renewable electric power generation employment with 15,490 employed at the end of 2023. Renewable electric power generation jobs grew by 6% with more than 1,400 new jobs, taking the total to around 27,000. Clean and alternative transportation jobs grew the fastest at 16%, expanding by 2,100 jobs in 12 months. Electric vehicle charging jobs surged by 27% YoY, representing one of the fastest growth segments in clean energy.
2.3 GW new RE contracts in New York: New York has signed contracts for 23 large-scale land-based renewable energy projects representing more than 2.3 GW of clean energy. These were awarded under NYSERDA’s 2023 Tier 1 Renewable Energy Standard Solicitation. A large number of these projects represent solar, and the remaining wind energy projects. These will be located in Central New York, Finger Lakes, Mid-Hudson, Mohawk Valley, North Country, Southern Tier, and Western New York. Some of these are already under construction. All the winning projects are expected to become operational by 2028. State Governor Kathy Hochul says these projects will add to New York’s robust pipeline of large-scale renewable energy projects moving toward operation, comprised of 46 solar arrays, land-based wind, hydroelectric, and offshore wind projects under development that will deliver more than 6.3 gigawatts of clean power to the grid.
Pine Gate project update: Pine Gate Renewables says its Sunstone Solar Project with 1.2 GW each of solar and storage capacity has received its final discretionary approval from the Oregon Energy Facility Siting Council (EFSC). Calling it the US’ largest proposed solar project, Pine Gate says it is now at liberty to proceed with its construction in the state’s Morrow County. The engineering and procurement process began in early 2025 ahead of the phased construction starting in 2026. The company acquired the project from Gallatin Power Partners in 2022.
According to Pine Gate, “The first-of-its-kind initiative will invest over a thousand dollars per project acre into a County-managed fund for programs that support the local agricultural economy and improve the long-term viability and resilience of Morrow County’s wheat farms.”
Nexamp partners with Fuyo General: Distributed solar power generation and community solar company Nexamp has partnered with Fuyo General Lease (USA) Inc. to fund over 350 MW of its community solar portfolio in the US. To be developed in Illinois and New York, these projects are expected to begin commercial operations within 2025 to 2027. This capacity is expected to reduce the cost of electricity for over 10,000 households within ComEd and Ameren’s electricity service area and contribute to grid flexibility, according to the company. Fuyo General Lease (USA) Inc. is part of the Japan-based Fuyo General Lease Co., Ltd.
Invenergy and Meta contract: Meta Platforms, the technology giant, has signed 4 contracts with Invenergy for 760 MW of clean energy, taking its total clean energy procurement from the company to over 1 GW. These new Environmental Attribute Purchase Agreements (EAPAs) relate to 4 following solar projects:
- Hardin II Solar in Ohio – 150 MW – Expected Commercial Operations 2024
- Delilah II Solar in Texas – 150 MW – Expected Commercial Operations 2025
- Tip Top Solar in New Mexico – 110 MW – Expected Commercial Operations 2026
- Chalk Bluff Solar in Arkansas – 350 MW – Expected Commercial Operations 2027
Electricity generated will be delivered to the local grid while Meta will receive clean energy credits for bringing new generation capacity online.
Longroad project achieves financial close: US-based renewable energy company Longroad Energy has announced the financial close of its 111 MW DC solar and 85 MW AC/340 MWh storage project in Maricopa County, Arizona. Debt financing was led by US Bancorp Impact Finance and included Commerzbank AG and CIBC. US Bancorp is also an equity investor in the project. This Sun Pond facility is part of the Longroad Sun Streams Complex. Construction is ongoing. The project is expected to start commercial operations by mid-2026. All the output is to be purchased by the City of San Jose, California, and Ava Community Energy under long-term power purchase agreements (PPAs). The project will be fitted with First Solar modules, Nextracker trackers and Sungrow inverters. The battery energy storage system (BESS) from Fluence will also include US-made inverters from EPC power and cells from AESC.
CAD 200 million green bonds: Brookfield Renewable has issued green subordinated hybrid bonds to raise CAD 200 million ($142 million) to fund eligible investments under its Green Financing Framework, including to repay debt. Issued by its subsidiary Brookfield Renewable Partners ULC, these hybrid notes represent its 15th green-labeled corporate securities issuance in North America and 4th under the 2024 Green Financing Framework.
Source from Taiyang News
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