Tag: us

Amazon procures record 8.3 GW of clean energy in 2022

Amazon has recently announced that in 2022 it grew its renewable energy capacity by 8.3 GW through 133 new projects in 11 countries. This brings Amazon’s total portfolio to more than 20 GW—that could generate the amount of energy to power 5.3 million U.S. homes—across 401 renewable energy projects in 22 countries. With these continued investments, reportedly, Amazon set a new corporate record for the most renewable energy announced by a single company in one year.

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Ørsted to acquire PSEG’s equity share in Ocean Wind 1

Ørsted, a Danish energy company, has agreed to acquire PSEG’s (Public Service Enterprise Group) 25 per cent equity stake in the Ocean Wind I offshore wind project in the US. The 1.1 GW offshore project, which is located about 24 km from southern New Jersey, will now be 100 per cent owned by Ørsted as part of the agreement. No financial details have been disclosed. 

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Can the Inflation Reduction Act unlock a green hydrogen economy?

A key component of the IRA is a lucrative set of tax credits intended to accelerate the deployment of clean energy technologies such as green hydrogen. This financial support has also brought some vehicle makers off the sidelines and into the clean transportation arena, with a few even planning to scale up hydrogen vehicle manufacturing and build new infrastructure.

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Enfinity Global purchases 400 MW solar project portfolio in US

Enfinity Global, a Spanish renewable energy company, has purchased Capital Dynamics’ 400 MW utility-scale solar portfolio in the US. The deal, which was first disclosed in September 2022, includes 28 operational solar energy generating facilities spread across California, North Carolina, and Idaho. The portfolio can produce 1,175 GWh of renewable energy yearly, enough to power up to 64,000 homes, while removing 508,000 tonnes of carbon dioxide from the atmosphere.

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Engie to acquire 1.25 GW solar and storage project portfolio in US

Engie has purchased a 1.25 GW utility-scale solar and storage portfolio from Revolve Renewable Power, a Canadian startup. Through a share purchase agreement, Engie IR Holdings, a subsidiary of Engie, carried out the transaction. The solar and storage projects Bouse, with a 1 GW capacity, and Parker, with a 250 MW capacity, make up the acquired portfolio. Both projects are in Arizona’s La Paz County.

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Hannon Armstrong finances AES’ 1.3 GW renewable portfolio

Hannon Armstrong Sustainable Infrastructure Capital (HASI), a US-based energy investment company, has invested in two grid-connected renewable energy assets that are owned and operated by electricity provider AES. The company has invested in a 1.3 GW portfolio of renewable energy projects, including solar and wind projects created, owned, and managed by AES. Additionally, it plans to buy a 49 per cent stake in the portfolio, which consists of one wind project and 17 current solar projects. 

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Boralex acquires a 50 per cent stake in five wind farms

Boralex has finalised the acquisition of a 50 per cent stake in five functioning wind farms totaling 894 MW in the US from EDF Renewables. These projects include the 50 MW Milo and 250 MW Roosevelt developments in New Mexico, as well as the 200 MW Hereford, 200 MW Longhorn, and 194 MW Spinning Spur projects in Texas. Each location was put into service between 2014 and 2016, and all of them feature Vestas turbines, with Hereford also comprising machines from GE Renewable Energy. 

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Electric Vehicles Are Driving Rates Down

Can the addition of more electric vehicles (EVs) to the grid actually lower utility bills for all customers? A recently updated study shows just that, showing that EV drivers are not being subsidized by other customers and, in fact, they are putting downward pressure on rates. Between 2012 and 2021, in three of utility service territories with the most EVs in the United States, EV customers have contributed more than $1.7 billion in net-revenue to the body of utility customers.

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What’s in the Inflation Reduction Act for utilities?

The Inflation Reduction Act (IRA) is the single largest action ever taken to mitigate the impacts of climate change in the United States. The federal government is deploying hundreds of billions of dollars to marshal economic and industrial policies in support of clean energy and to accelerate economy-wide decarbonization. But President Biden signing this bill into law is only the beginning.

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Ørsted sells 50 per cent stake in US renewable energy portfolio

Ørsted, a Danish energy provider, has sold a 50 per cent stake in an 862 MW renewable portfolio in the US to Energy Capital Partners (ECP) for around $410 million. The portfolio includes the solar power plant Muscle Shoals as well as the onshore wind farms Lincoln Land Wind, Plum Creek Wind, and Willow Creek Wind.

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InfraRed Capital to acquire stakes in four wind assets from Algonquin Power

InfraRed Capital Partners has announced that it has entered into an agreement to acquire a 49 per cent stake in a portfolio of three operating, utility-scale wind assets in the US from Algonquin Power & Utilities. Algonquin will sell its stake in the 202 MW Sugar Creek project in Illinois, the 149 MW Deerfield wind farm in Michigan, and the 200 MW Odell wind farm in Minnesota.

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RWE to acquire Con Edison CEB for $6.8 billion

RWE, a German energy company, has agreed to acquire all of Con Edison Clean Energy Businesses (Con Edison CEB) for $6.8 billion. Con Edison CEB, based in Valhalla, New York, operates and develops renewable energy plants around the US. The company has around 3 GW of operational capacity, with solar projects accounting for 90 per cent of the total.

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Enfinity Global to acquire 400 MW of operating solar projects in the US

Enfinity Global has announced a definitive agreement with Capital Dynamics (advised by Barclays) to acquire a 400 MW utility-scale solar portfolio in the US, consisting 28 operational solar PV power plants in California, North Carolina and Idaho. The portfolio reached COD within the last five years and holds long-term power purchase agreements with high-quality utility off-takers.

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Nexans to supply subsea cable for Revolution Wind Farm in the US

To supply subsea cable for the revolution wind farm in the US, Ørsted and Eversource have contracted with the French cable supplier Nexans. Nexans has now secured the contract for providing its export cable system to the 704 MW wind farm repeatedly. The first order for setting up and safeguarding the export cable link for the wind project was given to the company in March 2022. 

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Matrix Renewables acquires 4.6 GW solar portfolio from SolarStone

Matrix Renewables, a Spanish energy company, has purchased a 4.6 GW portfolio of utility-scale solar energy projects spread across the central US. For an undisclosed sum, the company bought the portfolio from SolarStone, a US-based provider of solar energy. In addition to the acquisition, Matrix and SolarStone Partners have agreed to establish a larger joint venture for development.

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GE secures 200 MW turbine contract from Scout Clean Energy

Scout Clean Energy, based in the US, has selected GE Renewable Energy as the wind turbine provider for its 200 MW Sweetland wind project in Hand County, South Dakota. According to the agreement, 71 of GE’s 2.8-127 onshore wind turbines will be shipped to the Sweetland project, which Scout will manage. Scout and GE have jointly deployed 1.07 GW of wind energy capacity.

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Correlate Infrastructure plans to acquire Aegis Renewable Energy

Aegis Renewable Energy has signed a non-binding letter of intent to be acquired by US-based energy technology company Correlate Infrastructure Partners. The agreement aims to expand Correlate’s market share in the US North-East renewables market. Aegis is based in Vermont and provides engineering, procurement, and construction (EPC) services for solar assets in the eastern US.

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