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Longroad Energy Holdings LLC has obtained a $500 million fairness funding by MEAG, appearing as asset administration arm for entities of Munich Re, alongside two of the corporate’s present traders, the NZ Tremendous Fund and Infratil, a listed entity managed by Morrison & Co.

The funding will help Longroad’s strategic shift from a primarily “develop to promote” enterprise mannequin to 1 that’s extra oriented towards possession. It can speed up the enlargement of its present 1.5 GW portfolio of owned property to eight.5 GW of wind, {solar} and storage tasks over the following 5 years.

“This essential infusion gives Longroad with the capital to quickly transition to a method biased to asset possession. It additionally will gasoline our acquisition objectives and proceed to help our investments in adjoining sectors, as we did not too long ago with Valta Energy within the DG area,” says Paul Gaynor, CEO of Longroad. “We’re thrilled to have MEAG be a part of with our present traders to energy our strong development plans, and we admire their collective help as we make strides in implementing our bold near-term aims.”

“This funding is a major step to additional enhance the U.S. renewable portfolio for Munich Re,” feedback Dr. Alexander Ballot, MEAG’s senior funding supervisor chargeable for U.S. infrastructure investments. “Given Munich Re’s robust place within the U.S. insurance coverage market, we’re serious about additional investing in the US.” 

“This funding makes an essential contribution to Munich Re’s net-zero local weather dedication underneath the Web-Zero Asset Proprietor Alliance (AOA), which Munich Re joined in 2020,” mentions Martin Kaufmann, senior funding supervisor at MEAG’s U.S. infrastructure investments. “We’re additionally happy to have teamed up with skilled companions on this funding to construct a profitable long-term relationship.”

“Longroad has been one of many NZ Tremendous Fund’s most profitable investments and, in step with our long-term, partnership method to infrastructure growth, we’re happy to each welcome MEAG as a co-investor and contribute extra capital ourselves,” provides Del Hart, NZ Tremendous Fund’s head of exterior investments and partnerships. “It has been thrilling to see Longroad develop since we first invested in 2016 and we stay up for seeing it proceed to ship each robust monetary returns and constructive environmental and social outcomes.”

“Infratil is extraordinarily proud of this final result,” says Jason Boyes, CEO of Infratil. “We stay very optimistic in regards to the alternatives and outlook for Longroad. It’s well-positioned in a key geography, with high-quality working property, built-in development by means of its growth portfolio and a confirmed crew.  The brand new funding from a number one international infrastructure investor in MEAG is a robust endorsement of the enterprise and the sector.”

Along with its 1.5 GW web possession working portfolio, Longroad’s observe document consists of 3.2 GW of developed and purchased tasks.  Longroad has a considerable growth pipeline of ~15 GW of wind, {solar} and storage tasks throughout 13 states, together with in key development markets. In Arizona and California, the corporate is working and growth portfolio of almost 4 GW and over 3 GW of {solar} and storage, respectively. The corporate has a growth pipeline of over 500 MW of {solar} and storage in Hawaii. In Maine, there’s a growth pipeline of over 1 GW of wind, {solar} and storage. Longroad operates 306 MW of wind property, with a growth pipeline of over 2 GW of wind, {solar} and storage in Utah.

In help of its pipeline growth, Longroad has established a deep relationship with First {Solar} and has not too long ago signed a multi-year contract with Powin Energy, affording favorable procurement standing and provide chain advantages. Longroad is at present contracted with First {Solar} for almost 4 GW of panel provide by means of 2026, in addition to with Powin to acquire as much as 4.5 GWh of storage by means of 2025.

Longroad’s monetary advisors on the transaction included lead advisor Goldman Sachs & Co., in addition to KeyBanc Capital Markets and Lazard Frères & Co. LLC.  Morgan Lewis served as authorized counsel. Barclays served as MEAG’s monetary advisor, and Holland & Knight as its authorized counsel.



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Feds extend comment period for offshore wind project

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Swiss wind park ordered to scale back to protect birds


Credit score:  NJ offshore wind venture: Public will get additional time to remark |

Amanda Oglesby |

Asbury Park Press |

Aug. 4, 2022 |

www.app.com
~~

The federal Bureau of Ocean Energy Administration prolonged the deadline for public touch upon the environmental impacts of an offshore wind venture after going through complaints 45 days was not lengthy sufficient to evaluate the 1,408-page impression assertion.

Some Jersey Shore residents, environmentalists and politicians pushed the bureau to increase the timeline for public enter on Ocean Wind 1, a venture by Denmark-based energy firm Ørsted and Newark-based energy firm The Public Service Enterprise Group. Many voiced considerations at public hearings that the proposed 1,100-megawatt offshore wind farm would irreparably hurt New Jersey’s fishing business, negatively have an effect on endangered North Atlantic Proper whales and disrupt the ecosystems and migration routes of varied marine and coastal animals.

The venture has been touted by state officers and lots of environmentalists as an essential step in lowering New Jersey’s reliance on fossil fuels, a contributor to world local weather change and rising sea ranges. If accepted, it might be situated about 15 miles offshore close to Atlantic Metropolis and supply sufficient energy to energy roughly 500,000 New Jersey properties, in response to Ørsted.

Development would erect as much as 98 wind generators throughout Ocean Wind 1’s lease space.

On Wednesday, the Bureau of Ocean Energy Administration introduced the general public would obtain a 15-day extension to touch upon the venture’s environmental impacts, transferring the deadline to obtain feedback from Aug. 8 to Aug. 23.

“We’re definitely happy to get an extension, however so far as we’re involved, it’s not sufficient, particularly for a venture of such an enormous dimension,” mentioned Zachary Klein, coverage legal professional for Clear Ocean Motion, an environmental group that had sought a further 60-day extension to evaluate the environmental impacts doc.

“We do have loads of considerations concerning the environmental impacts of this venture extra typically,” mentioned Klein. “One of many largest gripes that we have now is that we don’t really feel that there’s an acceptable pilot venture that has taken place off of the New Jersey coast.”

Klein mentioned different offshore wind farms in Europe and off Rhode Island are poor comparisons.

“The truth is the waters of New Jersey are wildly totally different… for a variety of causes, not simply the kind of species, however think about the climate circumstances, the water temperature − which in flip are going to have an effect on the frequency and severity of utmost climate occasions.” he mentioned. “The generators are going to have to face up to storms, face up to circumstances that they merely haven’t needed to in different areas.”

Seaside Park Mayor John A. Peterson Jr. had additionally hoped for an extended public remark interval. On Wednesday, he known as the 15-day addition “woefully insufficient.”

“It’s a difficulty that deserves probably the most thorough scrutiny and environmental scientific evaluate doable, due to what’s at stake,” he mentioned.

But different environmental teams and politicians are urging the bureau to maneuver forward with the offshore wind venture, saying it’s going to assist cut back New Jersey’s reliance on fossil fuels and can help high-paying jobs throughout the state.

In a public listening to held nearly final week with the federal company, Greg Remaud, CEO of the environmental advocacy group NY-NJ Baykeeper, spoke in help of Ocean Wind 1’s approval.

“Each energy selection consists of evaluating potential environmental hurt and selecting the types of energy which have the least impression on setting and wildlife species,” he mentioned through the listening to. “NY-NJ Baykeeper joins the numerous who imagine that impression from development of Ocean Wind 1 and wind energy usually are a lot much less impactful on the setting than the continued overreliance on fossil fuels, which (is) on the coronary heart of local weather change.”



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Compute North Energizes Data Center Co-located at Texas Wind Farm

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Compute North Energizes Data Center Co-located at Texas Wind Farm


Compute North, a sustainable, large-scale computing infrastructure firm, has energized the corporate’s fifth TIER 0 information heart. Spanning 29 acres close to a wind website within the “Wind Energy Capital of Texas,” the power will likely be scaled as much as 280 MW. Compute North can be asserting that, for this facility, Marathon Digital Holdings Inc. would be the unique buyer.

Co-located instantly on the supply of energy, the TIER 0 facility will present the wind farm with assured energy off-take. This can serve to optimize the asset, which may in any other case be pressured to curtail manufacturing throughout peak technology occasions. Furthermore, the onsite computing operations performed by Marathon Digital’s ASIC bitcoin miners are designed to transform energy instantly right into a digital and transferrable retailer of worth on the Bitcoin community.

“Collectively, Compute North and Marathon will advance important transitions on the coronary heart of the worldwide monetary, energy, and computing industries,” says Dave Perrill, Compute North’s CEO and co-founder. “Our challenge in McCamey, Texas helps resolve the Texas grid constraints by bringing computing workloads on to the technology supply and eliminates the necessity for expensive transmission strains – all whereas investing in the area people and creating new jobs in Upton County.”

“With the energization of this facility, roughly 40,000 of our put in miners, representing 3.9 exahashes per second, are actually within the technique of coming on-line in Texas,” feedback Fred Thiel, chairman and CEO of Marathon Digital Holdings. “Moreover, given the groundwork the groups at Compute North and Marathon laid firstly of this yr, we are actually properly positioned to proceed deploying and energizing miners at this behind-the-meter wind farm in West Texas. We sit up for persevering with to work alongside Compute North to speed up the ramp in Marathon’s hash price as the power comes on-line.”



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Evergy Signs Purchase Deal with Scout, Elawan for Persimmon Creek Wind Farm

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Evergy Signs Purchase Deal with Scout, Elawan for Persimmon Creek Wind Farm


Evergy has bought the 199 MW Persimmon Creek Wind Farm in western Oklahoma for a purchase order value of about $250 million from a partnership between Scout Clean Energy and Elawan Energy. The renewable energy from this wind farm will serve prospects within the Evergy Missouri West service space.

“Evergy continues to faucet into the Midwest’s inexpensive renewable energy sources to serve our prospects,” says David Campbell, Evergy’s president and CEO. “Increasing our portfolio of renewable era positions us to make sure prospects obtain the long-term advantages of those belongings.”

Over the subsequent 10 years, Evergy plans so as to add greater than 3,500 MW of renewable energy and retire greater than 1,900 MW of coal-based fossil era. Evergy has set a aim of 70% carbon discount by 2030 (relative to 2005 ranges) and a goal to succeed in net-zero carbon emissions by 2045. The corporate expects a mixture of supportive energy insurance policies and evolving expertise to allow the net-zero aim.

“Evergy’s dedication to inexpensive, dependable and sustainable electrical energy drives our planning, and Persimmon Creek Wind Farm helps these three tenants,” Campbell provides. “This addition is a part of our accountable transition to cleaner energy that features sustaining a balanced mixture of era sources to make sure we reliably ship the facility our prospects want.”

Persimmon Creek Wind Farm achieved business operation in 2018 with 80 Basic Electric generators throughout 17,000 acres in Dewey, Ellis and Woodward counties in Oklahoma.

The acquisition of Persimmon Creek Wind Farm, which is predicted to shut by early 2023, stays topic to closing circumstances, together with regulatory approvals. Evergy’s authorized advisor on the transaction was Morgan, Lewis & Bockius LLP; Scout and Elawan’s authorized advisor was McDermott Will & Emery LLP.



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