Energy Update
Storage developer Energy Vault and utility Pacific Gas and Electric Company (PG&E) have proposed a partnership to deploy and operate a grid-scale battery plus green hydrogen long-duration energy storage system (BH-ESS).
Sunrun said it closed a $600 million non-recourse syndicated bank facility supporting a 335 MW portfolio of leases and power purchase agreements.
The Senior Credit Facilities consist of a $575 million amortizing loan and a $25 million debt service reserve letter of credit.
The Caltech Space Solar Power Project (SSPP) launched into orbit in early January a prototype, the Space Solar Power Demonstrator (SSPD). The craft is intended to test several components of a system that is planned eventually to harvest solar power in space and beam the energy back to Earth.
Silicon Ranch Corp. said it conducted a $600 million equity raise. Initial funding of $375 million closed in December with another $225 million expected to fund early this year.
A silicon solar wafer manufacturer said it plans to build a 10 GW factory in the U.S.
CubicPV said it started facility design work, engaged with a construction management firm, and is in advanced discussions to site the facility.
The company said it expects to finalize a site choice during the first quarter, and begin construction soon after. Construction is anticipated to be completed in 2024 with the factory coming online in 2025.
Contributed by Aaron Halimi, founder and CEO of Renewable Properties
California just passed AB 2316 (Ward), a new community solar plus storage law that sets the stage for creating a viable community solar program for all Californians. But passing the law is only the first step. The next step is for the California Public Utilities Commission (CPUC) to design a program that attracts both community solar developers and subscribers.
Willie L. Phillips was named by the White House as acting chairman of the Federal Regulatory Commission. He is serving a term on the FERC that ends June 30, 2026.
Hannon Armstrong Sustainable Infrastructure Capital said it closed two new investments in grid-connected renewable energy assets developed, owned and operated by AES.
Canadian Solar said its storage business will provide up to 550 MWh of its utility-scale SolBank energy storage products to Pulse Clean Energy for various UK-based projects.
Under the agreement, CSI Energy Storage will provide commissioning services, along with long-term warranties and performance guarantees.
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