Energy Update
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.
Executive interview sponsored by Pall Corporation
On the surface, the energy transition may appear rather simple—clean energy sources, primarily wind and solar, need to replace fossil fuels to decarbonize the electric grid and support sustainable practices.
But the enabling forces behind the energy transition are far more complicated.
Calgary based Enbridge Inc. acquired renewable project developer Tri Global Energy for $270 million in cash and assumed debt.
Another $50 million could be paid out contingent on successful execution of Tri Global’s project portfolio. That portfolio includes onshore wind and solar projects representing more than 7 GW of capacity.
Tri Global has wind, solar and energy storage projects in Texas, Nebraska, Illinois, Indiana, Pennsylvania and Virginia.
A group of former Ørsted executives has launched an early-stage development capital firm with an initial pool of $100 million.
Brookfield Renewable said it is buying Standard Solar and Scout Clean Energy for a combined $1.5 billion with the potential to invest another $500 million to grow both companies.
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