Energy Update
JACKSON, Miss. (AP) — Mississippi utility regulators have approved a new incentive program for renewable energy despite objections from Republican Gov. Tate Reeves and large utility companies.
Some lower-income customers who pay most of the cost of installing a system such as rooftop solar panels could receive a $3,000 rebate from their power company.
Incentives are also available to 85 of the state’s 142 public school districts.
High electricity demand coupled with low wind availability can significantly raise wholesale prices in the Electric Reliability Council of Texas (ERCOT) grid, supported by its market design. These factors can lead to price spikes during summer peak-day conditions.
Back in October 2021 I covered the factors that were about to cause a major energy crisis across Europe.
Our Next Energy (ONE), a Michigan-based energy storage technology company, said it is planning a $1.6 billion investment in a new battery cell manufacturing plant in its home state.
The facility is expected to have an annual capacity of 20 GWh by the end of 2027, equivalent to 200,000 electric vehicle battery packs annually.
The company’s battery technology is aimed at increasing the range of electric vehicles to more than 600 miles on a single charge.
Solar module maker Meyer Burger Technology said it is planning an ordinary capital increase as part of a rights offering with targeted gross proceeds of up to CHF 250 million ($253.66 million).
The Swiss-based company said that markets for solar modules around the world, and particularly in Europe and the U.S., show strong growth, which it said is also benefiting from the recent energy crisis sparked by Russia’s invasion of Ukraine.
Energy storage system developer Form Energy announced a $450 million Series E financing round led by TPG’s global impact investing platform, TPG Rise.
The financing includes amounts that are subject to regulatory approval and allocations to existing investors.
Marc Mezvinsky, partner at TPG, is also joining Form Energy’s board of directors.
Attorney Generals in at least four states are looking into the operations of North Carolina-based Pink Energy, whose CEO wrote on LinkedIn that the company had permanently closed, affecting 2,100 employees. The company’s web site confirmed news that it had closed.
Jayson Waller used the social media platform to continue to blame equipment supplier Generac for his company’s troubles.
Arkansas regulators approved the Entergy Arkansas Driver Solar Project, a 250 MWac/312 MWdc facility developed by Lightsource bp, which will be located on around 2,100 acres near Osceola in Mississippi County.
TC Energy Corp. said it will start pre-construction work for the 81 MW Saddlebrook Solar Project near Aldersyde, Alberta, around 40 miles south of Calgary.
The diversified energy company plans to invest C$146 million ($107 million) to build its first Canadian solar power project.
Initial construction will involve installing solar panels on TC Energy property in a local industrial park.
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