Energy Update
North America’s most competitive renewable power purchase agreement (PPA) prices rose by 5.9% from 2021 Q3 to 2021 Q4, according to the latest price index series from LevelTen Energy.
Prices are trending upward for the third consecutive quarter, according to LevelTen. The market average for solar PPA offers rose 5.7% to $34.25 per MWh, while wind was up 6.1% to $38.36 per MWh.
The California Public Utilities Commission (CPUC) postponed oral arguments on its proposed revisions to the state’s Net Energy Metering (NEM) rules, likely delaying a vote on the draft beyond the current January 27 date.
The Commission said the delay would allow all five commissioners to take part in the oral argument phase.
Clarion Energy announced today three new additions to the already acclaimed media content team. David Wagman, Kevin Clark, and John Engel are joining the team to continue to effectively meet the needs of our global customers through a wide range of media outlets.
Lightsource bp said it closed on a $533 million multi-project financing package and started construction on its 345 MW Ventress Solar project some 30 miles northwest of Baton Rouge in Pointe Coupee Parish, Louisiana.
Lightsource bp will build, own and operate the facility and sell the energy to McDonald’s Corp. and eBay Inc. under long-term power purchase agreements.
By Mike Caitlin, Associated Press
TRENTON, N.J. (AP) — The federal government will lease an area larger than half the size of Rhode Island off New Jersey’s and New York’s coasts for wind power development, the first offshore lease in the Biden Administration, Interior Secretary Deb Haaland announced January 12.
Salt River Project is partnering with a NextEra Energy unit to add a 100 MW battery to its existing 100 MW solar plant, Saint Solar.
The battery, expected to be operational in mid-2023, will provide four hours of capacity.
Tesla’s Elon Musk and solar evangelist Bill Walton called on California officials to reject proposed changes to the state’s residential solar rooftop rules.
Investment platform Lafayette Square and renewable energy developer Invenergy launched Reactivate, a community solar energy platform to support renewable energy development in local communities.
Global Infrastructure Partners (GIP) and co-investors closed on a $500 million investment in independent power producer BrightNight, LLC, a Florida-based solar and energy storage developer. The investment includes preferred equity and a letter of credit facility.
GIP made the investment through Global Infrastructure Partners Capital Solutions Fund II (GIP CAPS II).
Startup Delorean Power LLC said that Greenbacker Capital Management made a $20 million strategic equity investment into the company.
Delorean is a developer and owner-operator of standalone battery energy storage projects up to 250 MW in size in the United States. In addition to the Greenbacker investment, Delorean said it is working to raise a “significant” amount of asset-level capital to support its project pipeline.
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