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Utility-scale renewables developer Intersect Energy has secured US$750 million in funding to take its portfolio of renewables, energy storage and green hydrogen initiatives past 8GW.

The expansion fairness funding will speed up the developer’s entrance in new markets and applied sciences, together with 1GW of green hydrogen manufacturing, and greater than trebling its mid-to-late stage portfolio to eight.5GWp of renewables and 8GWh of co-located storage pipeline within the US.

Its present pipeline of {solar} PV initiatives in development sits at 2.2GWp, whereas its co-located storage pipeline stands at 1.4GWh, all of which is about to be operational by 2023.

The funding was led by local weather investor TPG Rise Local weather with extra participation from present buyers Local weather Adaptive Infrastructure and Trilantic Energy Companions North America.

Intersect stated the brand new financing will allow it to proceed specializing in securing shorter offtake contracts mixed with large-scale battery storage and green hydrogen manufacturing.

As a part of the funding, Ed Beckley, Steven Mandel and Maryanne Hancock, all three representing TPG Rise Local weather will be part of Intersect Energy’s board of administrators.

In November 2021, Intersect Energy secured US$2.6 billion in financing for the development and operation of a portfolio of two.2GWdc {solar} and 1.4GWh of co-located storage initiatives in California and Texas.

Pine Gate Renewables, D.E. Shaw increase US$900 million between them

Up to now week or so, two different main fund raises have been achieved by US corporations growing utility-scale renewables, with an curiosity in {solar} PV and energy storage.

Sustainable infrastructure funding agency Generate Capital has invested US$500 million in US developer Pine Gate Renewables to help its utility-scale {solar} enlargement.

The funding will likely be divided into US$200 million in fairness funding and US$300 million in long-term asset partnership to finance {solar} initiatives. As a part of the funding, Generate Capital will be part of the board of administrators of Pine Gate.

The {solar} and energy storage developer at the moment operates greater than 1GW of renewable energy initiatives.

Furthermore, it has a pipeline of 20GW in energetic improvement throughout the US and has raised over US$1 billion in company and mission capital financing within the final six months.

Readers of Energy-Storage.information will be aware that this 12 months, Pine Gate Renewables has signed Memorandum of Understanding agreements for a number of gigawatt-hours of non-lithium energy storage applied sciences: nickel-hydrogen battery storage from startup Enervenue, and with zinc-based battery storage firm Urban Electric Power.

D.E. Shaw Renewables Investments (DESRI) has secured as much as US$400 million in new capital finance to help its US renewables technique.

The impartial energy producer has turned to funds managed by asset administration group Harbert Infrastructure for the finance, together with Gulf Pacific Energy and Harbert Infrastructure Fund VI, with all financing for use at DESRI’s discretion.

DESRI at the moment has a portfolio of renewable property totalling 6GW, comprising initiatives on the operational, beneath development and contracted phases of improvement.

The group’s investments in energy storage thus far have included a solar-plus-storage mission in California because of come on-line in 2024, for which it signed a 200MW/400MW combined power purchase agreement (PPA) with Sacramento Municipal Utility District (SMUD), Energy-Storage.information reported in March.

It’s also growing the Arroyo {Solar} and Storage mission in New Mexico, which mixes 300MWac of {solar} PV with a 150MW / 600MWh battery energy storage system (BESS) and have become Wells Fargo’s first tax equity investment into the US solar-plus-storage market late final 12 months. Arroyo will assist utility Public Service Firm of New Mexico hold serving prospects after the forthcoming closure of its San Juan Producing Station coal plant, along with other solar-plus-storage resources.

DESRI financier Harbert in the meantime is not any stranger to energy technology, having investments in energy property totalling 7GWac of technology capability.

This story first appeared as separate objects concerning Intersect, Pine Gate Renewables and DESRI on our sister website PV Tech.

DESRI piece by Liam Stoker.



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UK ‘wasting’ wind power without storage, study claims

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UK ‘wasting’ wind power without storage, study claims


August 11, 2022: The UK has “wasted” greater than 1TWh of wind energy since September 2021 as a result of it lacked enough lengthy length energy storage (LDES) capability, in accordance with analysis commissioned and launched by liquid air energy storage firm Highview Energy on July 28.

Highview stated the estimate of misplaced wind era, which emerged in analysis from consultancy Stonehaven, was primarily based on bid volumes in balancing markets auctions printed by Elexon, managers of Britain’s Balancing and Settlement Code — the foundations and governance preparations for electrical energy balancing and settlement LDES capability.

The analysis additionally confirmed widespread use of LDES may scale back the UK’s reliance on gasoline by 10 megatonnes by 2035, which Highview claimed could be the equal of eradicating gasoline from 4 million houses.

A separate survey carried out for Highview, by UK-based analysis and polling group YouGov, revealed {that a} majority (81%) of UK adults would assist authorities funding in energy storage.

Highview stated the web consultant survey of 1,818 adults, undertaken between July 19 and 20, indicated that 43% consider the nation imports an excessive amount of gasoline — a determine that rises to 54% amongst those that voted for the governing Conservative Get together in 2019.

CEO Rupert Pearce stated: “Our evaluation exhibits that LDES is a vital part of the UK’s energy safety and self-sufficiency. The YouGov findings present {that a} majority of voters assist authorities funding in LDES, which might underpin an environment friendly transition to renewables, lowering our dependency on gasoline.

“Merely put, there isn’t any transition to internet zero with out LDES.”

In June 2020, Highview said it had been given a £10 million ($12.5 million) UK authorities grant for its first industrial CRYOBattery, to be put in in northern England with Carlton Energy.

In Might final yr, Highview introduced it was growing as much as 2GWh of lengthy length, liquid air energy storage initiatives throughout Spain for an estimated funding of round $1 billion.



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Norway, Canada investment groups move into UK battery storage market

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Norway, Canada investment groups move into UK battery storage market


Norwegian renewable energy investor Magnora and Canada’s Alberta Funding Administration Company have introduced strikes into the UK battery storage market.

Extra precisely, Magnora has entered the UK {solar} market too, with an preliminary funding right into a 60MW {solar} PV undertaking and a 40MWh battery energy storage system (BESS) undertaking.

It’ll develop the tasks to a ready-to-build stage along with its native growth companion, after which divest them.

Whereas Magnora declined to reveal who its growth companion is, it famous that it had a 10-year monitor report of creating energy tasks within the UK.

Over the following 12 months, the investor will optimise the environmental and technical components of the undertaking, safe planning consents and cost-efficient grid connections, and put together the gross sales course of, it famous.

Magnora pointed to the UK’s 2050 web zero goal in addition to the Committee for Local weather Change’s suggestion that 40GW of {solar} PV by 2030 is probably going, as causes the UK market is enticing to worldwide traders.

Alberta Funding Administration Company (AIMCo) and funding supervisor Railpen have collectively acquired a 94% stake in UK battery storage firm, Constantine Energy Storage (CES).

CES develops grid-scale batteries and is planning to speculate greater than £400 million (US$488.13 million) to construct out a pipeline of tasks within the UK.

These tasks are presently beneath growth by Constantine Group subsidiary Pelagic Energy Developments.

“Constantine Group has a protracted monitor report of creating and managing renewable energy platforms,” mentioned Graham Peck, funding director at Constantine.

“Throughout this time, we’ve got seen rising deployment of renewable energy tasks creating a big market alternative and inherent infrastructure demand for energy storage. Via our subsidiary Pelagic Energy, CES has a sturdy undertaking pipeline of enormous and well-located battery tasks, that are deliverable within the close to time period, and thus present a safe pipeline of best-in-class belongings.”

Railpen has over £37 billion belongings beneath administration on behalf of a number of pension schemes.

AIMCo in the meantime, had $168.3 billion belongings beneath administration as of 31 December 2021. The institutional funding supervisor was arrange in 2008 and operates at arms-length from the Authorities of Alberta, investing globally on behalf of 32 pension, endowment and authorities funds.

This story initially appeared as two separate objects on our UK sister web site Solar Power Portal. Learn the complete model of the Magnora story here, learn the complete model of the AIMCo-Railpen-Constantine Energy story here.



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US BLM approves 250MW Arizona solar-plus-storage project on public land

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US BLM approves 250MW Arizona solar-plus-storage project on public land


Canadian renewables firm Revolve Renewable Energy has acquired approval to construct a 250MW solar-and-storage challenge on land managed by the US Bureau of Land Administration (BLM) in Arizona.

Situated in La Paz County, the Parker Mission will now conduct an environmental influence evaluation (EIA) in addition to interconnection examine for the location. Interconnection queues in the US, however, are at record lengths, with many builders shelving or cancelling tasks when confronted with a number of yr waits and excessive grid improve prices.

The corporate has contracted Wooden Group, a world engineering consultancy agency with expertise throughout the energy sector within the US, to guide the sector research required as a part of the Nationwide Environmental Coverage Act course of.

“Completion of the variance approval course of is a significant milestone for the event of the Parker Mission and is the results of some glorious work by the Revolve improvement staff working intently with the BLM over the past 10 months,” stated Steve Dalton, CEO of Revolve.

On the finish of 2021, the BLM started solicitating interest for utility-scale solar projects on nearly 90,000 acres of public land positioned throughout Colorado, Nevada and New Mexico.

On the time, it had stated it had allotted roughly 870,000 acres of federal public land as environmentally preferrable for {solar} leasing primarily based on the areas’ excessive potential for {solar} energy and suitability for utility-scale {solar} vegetation.

Simply final month, it issued final approval for the construction of a 500MW solar project within the desert of south-eastern California.

This story first appeared on PV Tech.



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