Energy Update
Idaho-based lithium-ion battery producer KORE Power said it closed on an initial $75 million tranche of a private placement anticipated to total $150 million.
Siemens Financial Services was the lead investor. It was joined by Quanta Services, Nidec Motor Corp., Honeywell Ventures, Trog Hawley Capital and an unnamed utility-scale energy storage provider.
European clean energy leaders are looking to their policymakers for action on a clear industrial policy to achieve decarbonization goals in the wake of a historic legislative victory in the U.S.
With Richard Glick, chairman of the Federal Energy Regulatory Commission, potentially on his way out, the possibility exists that the remaining FERC commissioners will be tied along party lines on critical issues.
That possibility could impact major FERC decisions. But deciding on aggregated distributed energy resources in FERC Order 2222 should not be a “tied” decision.
Texas-based Activate Renewables, which acquires real estate and royalty interests in wind, solar and energy storage, said it closed on the purchase of a renewable energy real estate portfolio owned by Alchemy Renewable Energy.
The portfolio consists of the real estate related to five solar projects located in North Carolina and Texas. Terms were not disclosed.
Enel North America said it launched a retail energy business in Texas with a focus on commercial and industrial customers.
The venture aims to enable customers to buy renewable energy directly from Enel’s generation assets without having to make a long-term financial commitment through a more conventional power purchase agreement (PPA).
Both 2020 and 2021 were banner years for commercial solar energy deployment. That growth trend came to a screeching halt during the first half of 2022 as supply chain challenges, trade disputes and lingering pandemic-related disruptions trimmed the pace of installation.
Dallas-based Leeward Renewable Energy said it closed around $420 million in construction-to-term financing from MUFG Bank Ltd. and a $195 million tax equity commitment from Wells Fargo for its Big Plain Solar Facility in London, Ohio and its Oak Trail Solar Facility near Moyock, North Carolina.
ComEd said it will explore battery energy storage system technology by evaluating the effectiveness of localized batteries to support around two dozen customers who live in Streator, Lostant, and Milledgeville, Ill.
The tech demo will use batteries from Sunverge Energy Inc. and Mesa Technical Associates to support ongoing grid management. Equipment includes a Sunverge battery with 6.5kW / 28kWh capacity, and Mesa batteries with 75kW / 200kWh and 75kW / 350kWh capacity.
The U.S. Department of Transportation awarded more than $100 million for infrastructure projects to support offshore wind energy projects in and around the Atlantic Coast and Great Lakes.
The awards were part of more than $703 million in funding to improve port facilities through the Maritime Administration’s Port Infrastructure Development Program. The funding was made possible by the 2021 Bipartisan Infrastructure Law and additional Congressional appropriations.
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