Energy Update
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.
RWE, one of the world's largest renewable energy companies, reached an agreement to buy Con Edison's clean energy development business for $6.8 billion.
The transaction adds 3 GW of clean energy operating capacity, 90% comprised of solar assets, and a 7 GW development pipeline into RWE's U.S. portfolio.
Entergy Louisiana and Diamond Generating Corporation (DGC) signed an agreement to evaluate and potentially deploy offshore wind projects in the Gulf of Mexico.
Efforts will initially focus on the evaluation of grid interconnection to determine the optimal size and locations of future offshore wind development.
“This is an important first step to possibly bring wind power to our Louisiana shores,” said Phillip May, Entergy Louisiana president and CEO.
BILLINGS, Mont. (AP) — The Biden administration on Thursday proposed a new permitting program for wind energy turbines, power lines and other projects that kill eagles, amid growing concern among scientists that the rapid expansion of renewable energy in the U.S. West could harm golden eagle populations now teetering on decline.
Oregon-based Origami Solar, a startup that aims to produce lower-carbon solar PV module frames using domestic steel, received a $500,000 cash prize through a Department of Energy innovation competition.
Intersect Power closed $2.4 billion of financing commitments and allocated $675 million of previously announced commitments to build and operate four solar energy projects totaling 1.5 GW PV + 1.0 GWh BESS.
The deals represent construction financing, tax equity, operational letters of credit and a portion of previously announced portfolio-level term debt.
FELDHEIM, Germany (AP) — Europeans are opening their energy bills with trepidation these days, bracing for hefty price hikes as utility companies pass on the surging cost of natural gas, oil, and electricity tied to Russia’s war in Ukraine.
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