Energy Update
AES Corp. announced that a recently acquired subsidiary has closed on $154.2 million in debt financing for 400-MWh energy storage project in Los Angeles County.
sPower had closed on the funding for Luna Storage late last year. In January, AES merged with sPower and incorporated it into the AES clean energy business in the U.S.
NTE Energy said on Tuesday that it plans to develop more than 5 GW of clean energy projects in the next five years. The company is currently working with investment partners to advance development of a clean energy project pipeline that includes 1.2 GW of solar and 3.9 GW of battery energy storage systems (BESS), with 3,000 to 4,000 MW expected to reach commercial operation by 2026.
Shell Energy Europe BV (Shell) and Amazon signed an agreement through which Shell will provide Amazon with 50% of the capacity (~380 MW) of the energy generated by the Amazon-Shell HKN Offshore Wind Project.
The technology group Wärtsilä said last week that it has been contracted to provide a project-critical energy storage system for the 50-MW-Eolica Coromuel, S. de R. L (ECO) Wind Farm in La Paz, Mexico. The energy storage system is designed to deliver a power output of 10 MW for the operational life of the project. Wärtsilä is also providing a long-term service agreement, including maintenance, spare parts, repairs, remote monitoring and performance guarantees.
The Bureau of Ocean Energy Management (BOEM) announced last week that it intends to resume the environmental review of Vineyard Wind’s proposed offshore wind project.
“Offshore wind has the potential to help our nation combat climate change, improve resilience through reliable power, and spur economic development to create good-paying jobs,” said BOEM Director Amanda Lefton. “BOEM is committed to conducting a robust and timely review of the proposed project.”
GE Research, GE Renewable Energy, and LM Wind Power, a GE Renewable Energy business were recently selected by the US Department of Energy (DoE) to research the design and manufacture of 3D printed wind turbine blades.
ALLETE Clean Energy, a wholly owned subsidiary of ALLETE, in partnership with five other entities, announced its contribution of $105,000 in grants to the Roff, Sulphur and Tishomingo school districts near the company’s 303-MW Diamond Spring wind site in Mill Creek, Oklahoma. The wind site supplies Walmart, Starbucks and Smithfield Foods with renewable energy.
U.S. residential solar and energy-efficient home improvement financing agency Mosaic this week announced it has surpassed $4 billion in loans funded through the company’s platform.
The company has also added new features to its financing program including no payments for 18-months and a 25-year term loan, which it says will make it even easier for homeowners to go solar.
EPC and O&M provider Borrego (formerly Borrego Solar) this week announced it has been selected to develop a 110-MW-AC utility-scale solar project as part of the solicitation for large-scale renewables by New York State Energy Research and Development Authority (NYSERDA). The project will be Borrego’s largest development announced to date.
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