Energy Update
New molten sodium batteries operate at lower temperatures using low- cost materials
A joint venture owned by utility giant National Grid has secured $150 million in new credit to help grow its renewable energy investment over the coming years.
Emerald Energy Venture LLC secured its $150 million portfolio revolving facility structured by SMBC, which is also lead arranger and agent. The portfolio revolver can be expanded to $250 million midway through next year.
A legal challenge by two lakeview condo dwellers seeking to block Lake Erie’s first offshore wind farm faces a high legal bar before the Ohio Supreme Court — with equally high stakes for clean energy in the region.
The need to ensure renewable energy resources can meet baseload power demand is intensifying the race for giant battery storage systems across Europe.
Siemens Smart Infrastructure and German grid operator Zukunftsenergie Nordostbayern GmbH are the latest companies to join the race to improve battery storage, by planning to develop a 100-MW lithium-ion battery storage facility in the town of Wunsiedel.
Enel Green Power North America has acquired a 3.2GW solar portfolio, including 450MW solar-plus-storage projects, from Dakota Renewable Energy.
The portfolio comprises 24 projects in the development stage, will be located in the Mid-Atlantic, Midwest and Western United States and are planned for commercial operation beginning in 2023.
A new program in Hawaii will use battery energy storage to help firm the grid after a coal plant is retired in September 2022.
Hawaiian Electric said this week that it is now accepting applications for Battery Bonus, a new program that will pay a cash incentive for residential and commercial customers on O‘ahu to add energy storage (a battery) to an existing or new rooftop solar system.
ScottishPower and Shell have joined forces to bid to develop the world’s first large-scale floating offshore windfarms in the north-east of Scotland, they announced last week. The group submitted multiple proposals for new floating offshore windfarms as part of Crown Estate Scotland’s ScotWind Leasing, which closed for submissions on July 16.
Clean Path New York today announced a $270 million fund to provide an opportunity for all New Yorkers to thrive in the new green economy.
The fund will serve both communities near generation facilitates and those located along the 175-mile 1,300 megawatt HVDC transmission link that will deliver clean energy generated Upstate to load centers in New York City.
Generate, a sustainable infrastructure company, yesterday announced it has raised $2 billion in corporate equity from institutional investors to accelerate the deployment of sustainable infrastructure. Existing investors AustralianSuper and QIC led the fundraising round with new investment from Harbert Management Corporation, Aware Super, and CBRE Caledon.
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