Category: Big Moves

Scatec Solar acquires SN Power for $1.1 billion

Norway-based PV developer Scatec Solar has announced the acquisition of SN Power. Scatec has also decided to drop the word “Solar” from its name after agreeing to acquire SN Power for $1.1 billion from NorFund, a private equity firm owned by the Norwegian government. The deal is expected to close in Q2 2021.

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Solar tracking manufacturer Array Technologies raises over $1 billion in public offering

US-headquartered Array Technologies has raised more than $1 billion in its initial public offering (IPO). Albuquerque-based Array Technologies started trading on the Nasdaq Global Market on October 15. The company sold 47.5 million shares at $22 per share for a total IPO of more than $1 billion, according to a release. It previously planned to raise much less at $675 million.

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New York mandates 70% RE by 2030

The order includes a directive for the New York State Energy Research and Development Authority (NYSERDA) to enter into contracts for 4,500 MWh per year for upstate renewables each year and 700 MW to 1,000 MW of offshore wind annually. This creates a strong market in New York and should attract the private investment needed to get projects under development.

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Total’s JV with Adani Green gets green signal by ICC

French energy producer Total has officially announced its joint venture (JV) in solar energy with Adani Green Energy Limited (AGEL), the renewable energy subsidiary of Indian conglomerate Adani. The Indian Competition Commission (ICC) has approved the transfer of ten solar power generation assets from Adani Green Energy to the JV.

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Solar PPA prices in the US rise for the second consecutive quarter

LevelTen’s report reveals that PPA offer prices are on the rise for both wind and solar projects. After dropping continuously for six quarters, the 25th percentile (P25) index of solar offer prices has risen for the past two quarters, and at $29.30 per MWh, it has surpassed its previous recorded high of $29.20/MWh back in Q3 2018.

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Norway’s Ocean Sun announces an IPO

Norway-based floating PV developer Ocean Sun is seeking a listing on the Merkur Market, a multilateral trading facility which has offered small and medium-sized companies access to the Oslo Stock Exchange since 2016. The company aims to raise NOK100 million ($10.9 million) through the initial public offering (IPO).

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Duke Energy sets a goal to double its renewable portfolio to 16 GW by 2025

The announcement comes a month after Duke filed its integrated resource plan for the Carolinas, detailing six potential resource portfolios for the next 15 years. The base scenario – which includes no carbon policy drivers – projects total solar capacity of 8,650 MW by 2035, while the three most ambitious models in terms of solar development reveal the utility could own a solar portfolio in excess of 16 GW by that date.

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Brazil launches tender for utility-scale floating PV solar projects

Interested companies are invited to express interest in the development of projects aiming at future participation in free (ACL) or regulated (ACR) contracting environments. The EMAE is seeking proposals for projects ranging from 1 MW to 30 MW. The facilities will sell power on both the regulated and free energy markets.

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Facebook inks deal with Singapore’s Sunseap to tap solar power generated from 1,200 rooftop plants

Sunseap Group, a Singapore-based solar energy company, has announced that it signed a virtual power purchase agreement with Facebook to supply around 100 MW of solar energy from over 1,200 rooftop installations across Singapore. The generated renewable energy will be utilized to support Facebook’s operations in Singapore, including its first custom-built data center in Asia.

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Colombia pushes launch of energy storage tender to 2021

In June 2020, a selection process for the grid-connected battery system was announced for a launch later this year, following a public consultation. The initiative forms part of a broader plan to develop several strategic storage hubs in the country to reinforce electricity supply in areas vulnerable to outages. It is understood the Atlántico project will boast 50 MW of capacity. The length of the service agreement for the facility’s operation is expected to be 10 to 15 years.

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Siemens and Macquarie get together to launch energy-as-a-service joint venture

Macquarie’s Green Investment Group (GIG), Siemens’ Smart Infrastructure (SI) and Financial Services (SFS) groups today announced the formation of Calibrant Energy (Calibrant), a joint venture that offers comprehensive onsite Energy as a Service (EaaS) solutions at no up-front cost for its customers, which include corporate and industrial clients, as well as municipalities, universities, schools and hospitals.

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