Month: August 2024

Cero Generation Secures Financing for 244.7MWp Solar Portfolio in Spain—Construction to Begin Soon! 

Cero Generation is charging ahead with the green energy revolution, having just reached financial close on an impressive portfolio of five solar projects in the Palencia region of Spain. This milestone secures the future of a 244.7MWp solar portfolio, thanks to the backing of a consortium of major lenders—Banco Sabadell, Rabobank, and ING. 

These five utility-scale solar projects, set to power thousands of homes and reduce carbon emissions, are underpinned by a 10-year Power Purchase Agreement (PPA) with a leading international technology company. With financing in place, Cero Generation is poised to break ground on these projects imminently, marking the start of an exciting new chapter in Spain’s renewable energy landscape. 

Cero Generation has enlisted the expertise of Elmya and Metlen as EPC contractors, ensuring the projects are built to the highest standards. LONGi, a global leader in solar technology, will supply the solar modules, further cementing the portfolio’s role in advancing clean energy. With over 200 people set to be involved in the construction phase, this initiative will not only boost local employment but also invigorate the local economy. 

Beyond the immediate economic benefits, Cero Generation is committed to the long-term sustainability of the region. As part of the project development programme, Cero will actively support conservation programmes in the Castilla y León autonomous community. These initiatives will help protect local biodiversity and ensure that the solar projects contribute positively to the environment. 

The impact of these projects is monumental—once operational, the five solar plants are expected to deliver more than 480 GWh of renewable energy annually. That’s enough to power close to 150,000 homes and avoid over 175,000 tonnes of CO2e emissions each year. But the benefits don’t stop there; Cero is also focused on enhancing biodiversity at the project sites, creating a win-win scenario for both clean energy and the environment. 

With a 26GW portfolio, Cero Generation is one of Europe’s renewable energy powerhouses. Over 600MW of their projects are already in operation or under construction, showcasing their commitment to driving the energy transition forward. 

Marta Martinez Queimadelos, Chief Executive of Cero Generation, expressed her enthusiasm: “We are delighted to reach financial close on this portfolio, which was achieved through close collaboration with all of the key stakeholders including our lending partners—Sabadell, Rabobank, and ING—and our supply chain partners, Elmya, Metlen, and LONGi. We look forward to constructing these plants, creating job opportunities for local people, and delivering a range of community benefits, ultimately putting more renewable energy into the Spanish transmission network.” 

This is more than just a financial achievement; it’s a significant step towards a sustainable future for Spain and Europe. Stay tuned as Cero Generation continues to lead the way in renewable energy innovation and community-focused development! 

#RenewableEnergy #SolarPower #CeroGeneration #Spain #GreenEnergy #Sustainability #SolarProjects #CleanEnergy #EnergyTransition #Biodiversity #EconomicGrowth

Qcells Secures $1 Billion Loan Guarantee for Groundbreaking Solar Manufacturing Facility in Georgia! 

In a major boost for the U.S. clean energy landscape, the U.S. Department of Energy’s Loan Programs Office (LPO) has announced a conditional commitment for a loan guarantee of up to $1 billion to support Qcells’ state-of-the-art solar supply chain manufacturing facility in Cartersville, Georgia. This monumental project is set to revolutionize domestic solar manufacturing, driving the U.S. closer to energy independence and sustainability. 

Once finalized, this loan guarantee will empower Seoul-headquartered Qcells to construct a cutting-edge facility that will produce the entire solar supply chain—from ingots to finished panels—at a multi-gigawatt scale, all under one roof. This is a pivotal moment for the U.S. solar industry, as the facility will be a key player in the country’s clean energy transition. 

Qcells isn’t stopping there. Beyond the $1.45 billion in DoE funding, the company is investing an additional $2.5 billion to supercharge domestic solar manufacturing and innovation. With a total domestic investment of $2.8 billion, Qcells is firmly positioning itself as a leader in the U.S. renewable energy sector. 

“Qcells’ highly anticipated, integrated supply chain facility in Cartersville, Georgia, has made significant progress,” the company stated, adding that by the end of this year, it will produce the entire solar supply chain, from ingot to finished panel, all within Georgia. This ambitious endeavor reflects Qcells’ belief that onshoring solar manufacturing is crucial for building a sustainable, secure, and independent energy future for the U.S. 

The ongoing support for Qcells’ investments is a testament to the impact of the Inflation Reduction Act and the concerted efforts of local, state, and federal officials. This whole-of-government approach underscores the critical importance of domestic solar manufacturing for long-term success and energy security in the U.S. 

With its Cartersville facility and the existing factory in Dalton, Qcells is set to achieve a staggering 8.4GW of annual solar production capacity in Georgia by the end of this year—enough to power nearly 1.3 million homes annually. This capacity not only represents a massive step forward for renewable energy in the U.S. but also solidifies Georgia’s role as a central hub for solar innovation. 

Beyond its environmental impact, Qcells’ investment is also a powerful economic driver. According to a Chmura JobsEQ report from the fourth quarter of 2023, provided by the Cartersville-Bartow County Department of Economic Development, Qcells has already created 3,800 direct jobs and nearly 7,000 total jobs (including indirect and induced jobs) in Bartow and Whitfield counties. This surge in employment highlights the transformative power of the clean energy industry for local communities. 

Qcells is not just building solar panels; it’s building a brighter, more sustainable future for the U.S., one solar cell at a time. Stay tuned as this groundbreaking project continues to shape the energy landscape!  #RenewableEnergy #SolarPower #Qcells #USCleanEnergy #Sustainability #Georgia #EnergyTransition #Manufacturing #GreenEnergy #EconomicGrowth 

Solarvest Powers Up Malaysia’s Green Energy Future with Five Major Corporate Green Power Agreements! 

Solarvest is taking a bold step forward in Malaysia’s energy transition, securing five Corporate Green Power Agreements (CGPAs) with some of the biggest names in the financial services, semiconductor, and data center industries. This is a significant milestone under Malaysia’s Corporate Green Power Programme (CGPP), and it’s a game-changer for corporate sustainability!  Through strategic joint ventures—one with Savelite Engineering Sdn Bhd and TNB Renewables Sdn Bhd, and another solely with TNB Renewables—Solarvest will own and develop two large-scale PV arrays in Lumut, Perak, and Kulim, Kedah. These solar power plants will generate a combined electricity capacity of 59.98MW for the next 21 years, all backed by a contract for difference mechanism at agreed pricing. 

This initiative is more than just about powering businesses; it’s about driving Malaysia’s energy transition. The CGPP allows corporations to procure virtual renewable electricity, eliminating the need for on-site solar installations. By participating, corporate consumers not only gain access to clean energy but also receive bundled Renewable Energy Certificates (RECs) that validate the green origin of their electricity—helping them achieve their sustainability targets.  Davis Chong Chun Shiong, Executive Director and Group CEO of Solarvest, expressed his pride in these partnerships: “The CGPP marks a significant stride towards a more open and competitive energy market in Malaysia as driven by the principle of demand and supply. We are honoured to have earned the trust of these industry leaders as their decarbonisation partner. With our track record in utility-scale projects, we are confident in providing our corporate consumers with sustainable energy solutions to advance their sustainability goals.”  These agreements not only strengthen Solarvest’s recurring income stream through electricity sales but also cement the company’s position as a leader in Malaysia’s renewable energy sector.  Corporate giants are also voicing their support. Amarjit Sandhu, Corporate Vice President, Assembly & Test NAND Operations at Micron Technology, highlighted the importance of the partnership: “Our participation in the CGPP reinforces our commitment to building a greener and more sustainable future, while driving innovation in the semiconductor industry. Micron remains a responsible corporate stakeholder, aligned with Malaysia’s National Energy Policy and National Energy Transition Roadmap.” 

Hezri Adnan, Director of Group Sustainability at Bursa Malaysia, echoed this sentiment: “Sustainability plays an integral part of Bursa Malaysia’s agenda. We recognise our responsibility to influence capital market participants towards sustainable practices. We strive to lead by example and will continue to actively mitigate our climate impact through various approaches.”  Beyond the CGPP, Solarvest is actively exploring collaborations, including with Micron, to further reduce carbon footprints and support zero-emission goals through the newly launched Corporate Renewable Energy Supply Scheme. This innovative approach, with open grid access and third-party access, allows Solarvest to supply electricity to corporate clients via the national grid, revolutionizing how green energy is delivered in Malaysia.  Solarvest is lighting the way for a greener future in Malaysia, empowering corporations to embrace sustainability and lead the charge in the global energy transition. Stay tuned as Solarvest continues to expand its green energy footprint!  #RenewableEnergy #SolarPower #Malaysia #Solarvest #Sustainability #CorporateGreenPower #CGPP #CleanEnergy #EnergyTransition #GreenEnergy #Innovation

Nomad Electric Expands Presence in Portugal with New Solar O&M Contract! 

Nomad Electric is making waves in the renewable energy sector, having just signed a significant Operations & Maintenance (O&M) contract with a leading developer of utility-scale solar projects in Portugal. This new agreement will see Nomad Electric providing top-tier support for a solar plant with an impressive capacity of nearly 30MWp.  This contract is more than just a win for Nomad Electric—it’s a testament to the company’s growing influence in the Iberian Peninsula. With this new addition, Nomad Electric’s utility-scale management portfolio in Portugal now stands at an impressive 99MWp. This expansion highlights the company’s commitment to boosting renewable energy infrastructure in the region. 

Nomad Electric’s O&M services are designed to ensure the highest standards of reliability and performance for the solar plant. Their comprehensive services include reactive, preventive, and corrective maintenance, as well as detailed reporting and warranty checks. These efforts guarantee that the plant operates at peak efficiency, delivering consistent and reliable renewable energy.  What’s more, Nomad Electric’s in-house O&M team is strategically based near the plant, not only ensuring swift response times but also supporting local employment and activity. This local presence is a key factor in Nomad Electric’s strategy, emphasizing their commitment to the communities they serve.  Pawel Muszyński, Chief Commercial Officer at Nomad Electric, expressed his excitement: “It is a great satisfaction to have gained trust and signed another O&M contract. We are committed to ensuring that every power plant under our management achieves industry-leading uptime and performance. Our growth in EU markets, paired with years of experience, puts us in a position to serve international investors with PV assets across multiple markets.”  This new contract underscores Nomad Electric’s expertise and dedication to maintaining top-tier solar assets, while also contributing to the broader goal of expanding renewable energy across Europe. As Nomad Electric continues to grow, they are proving to be a formidable player in the transition to a more sustainable energy future.  #RenewableEnergy #SolarPower #Portugal #NomadElectric #Sustainability #OMServices #CleanEnergy #IberianPeninsula #EnergyTransition #GreenEnergy

Jera Nex Expands into the US Solar Market with Major Acquisition from Lightsource BP 

Jera Nex, the global renewable energy arm of Jera, has made a powerful entry into the US solar market by acquiring two significant solar projects totaling 395MWac from Lightsource BP. This marks the first major transaction by Jera Nex since its launch in April, and it’s already setting the stage for ambitious growth in the renewable energy sector!  The acquisition includes two major solar farms now under Jera Nex’s portfolio: the 300MW Oxbow Solar Farm in Louisiana—the largest in the state—and the 95MW Happy Solar Farm in Arkansas. Both of these projects are already operational and are providing clean, renewable energy to their customers. 

Lightsource BP, known for its close collaboration with local communities, played a crucial role in the development of these sites. This local engagement ensures that the projects are not only environmentally sustainable but also socially responsible, benefiting the communities they serve.  The Happy Solar Farm in Arkansas has secured a long-term Power Purchase Agreement (PPA) with Conway Corp, the city-owned utility system in Conway, Arkansas. Meanwhile, the Oxbow Solar Farm in Louisiana has inked long-term PPAs with major corporate customers, including eBay. These agreements guarantee a stable revenue stream and highlight the growing demand for clean energy among both public and private sectors.  Richard Scott, Vice President for Development and Construction Onshore at Jera Nex, expressed his excitement about the acquisition: “We are delighted to take our first step into the US solar market with the acquisition of these projects. This first transaction since our recent launch is an indication of our ambitious plans to scale onshore and offshore renewables for a sustainable future. We hope to build a broader onshore renewables portfolio in the US and globally.” 

Scott also praised Lightsource BP for their exceptional reputation in delivering high-quality solar farms: “Lightsource BP has an excellent reputation for delivering high-quality solar farms, and that is exactly what we have acquired with Oxbow and Happy. We look forward to working with the local communities and customers to provide clean and sustainable energy in the years to come.”  As part of the agreement, Lightsource BP will continue to provide asset management and operations & maintenance (O&M) services to Jera Nex, ensuring a seamless transition and continued success for the solar farms. This partnership ensures that the local communities and customers will continue to receive top-tier service and sustainable energy.  Emilie Wangerman, Chief Operating Officer of Lightsource BP US, echoed the importance of finding a reliable partner in Jera Nex: “It was very important to Lightsource BP to find a reliable and like-minded partner for projects that are integral to the local community. We are proud of the successful development of these solar farms and confident that they will continue to thrive under the stewardship of Jera Nex.”  With this acquisition, Jera Nex is poised to make a significant impact on the US renewable energy landscape, bringing clean, sustainable energy to more communities and helping to drive the global energy transition forward. Stay tuned for more exciting developments from Jera Nex!  #RenewableEnergy #SolarPower #USMarket #JeraNex #LightsourceBP #Sustainability #CleanEnergy #OxbowSolar #HappySolar #EnergyTransition #GreenEnergy

LS Power to Acquire Algonquin Power’s Renewable Energy Business, Expanding Clean Energy Footprint Across North America! 

In a bold move to expand its clean energy portfolio, US-based LS Power has announced an agreement to acquire the renewable energy business of Algonquin Power & Utilities. This acquisition is set to significantly boost LS Power’s presence in the renewable energy sector, with a portfolio that includes a mix of wind and solar assets spanning the United States and Canada, boasting over 3000MW of generating capacity. 

The acquisition also includes a substantial 8000MW pipeline of future projects, ranging from wind and solar to battery energy storage and renewable natural gas, all in various stages of development. This massive pipeline highlights the strategic importance of the deal, positioning LS Power as a key player in the ongoing energy transition. 

A significant portion of these assets—approximately 2700MW—is located across major US energy markets, including NYISO, MISO, PJM, ERCOT, and CAISO, with the remaining 300MW in Canada. This geographic diversity not only strengthens LS Power’s renewable portfolio but also ensures a wide-reaching impact on North America’s clean energy landscape. 

Paul Segal, Chief Executive of LS Power, expressed his excitement about the acquisition: “This represents a significant strategic investment in and expansion of LS Power’s renewable energy portfolio. This business complements our existing fleet of more than 19,000MW of top-performing renewable, energy storage, flexible gas, and renewable fuels projects. We believe this platform will play a significant role in meeting the challenges of rising electric demand and advancing the energy transition.” 

This acquisition will integrate seamlessly into LS Power’s existing portfolio of energy transition platforms, including REV Renewables—a leader in renewable generation and energy storage—and Rise Light & Power, New York City’s largest generator and developer of clean energy infrastructure, including battery storage and offshore wind interconnection. Together, these platforms will drive LS Power’s mission to lead in the energy transition and meet the growing demand for clean, reliable energy. 

The transaction, expected to close in Q4 2024 or Q1 2025, is subject to regulatory approvals, including the US Federal Energy Regulatory Commission and competition law clearances. Once completed, this acquisition will position LS Power at the forefront of the clean energy movement, with a comprehensive portfolio ready to tackle the challenges of the future. 

LS Power is being supported in this acquisition by Milbank as legal advisor and Scotiabank and BMO Capital Markets as financial advisors, ensuring a smooth and strategic transition.

This deal marks a major milestone not only for LS Power but for the entire renewable energy sector, underscoring the accelerating shift towards sustainable energy solutions across North America. Stay tuned as LS Power continues to lead the charge in building a cleaner, greener future!  #RenewableEnergy #CleanEnergy #LSPower #AlgonquinPower #EnergyTransition #Sustainability #WindPower #SolarEnergy #EnergyStorage #NorthAmerica #GreenEnergy #StrategicInvestment

Nexif Ratch Energy Powers Up with First Solar Project in the Philippines! 

               Nexif Ratch Energy (NRE) has just achieved a major milestone with the successful commercial operation of the Calabanga Solar Project (CARE), located in the beautiful Philippines. This groundbreaking achievement follows a rigorous testing and commissioning process overseen by the National Grid Corporation of the Philippines, ensuring everything is set to deliver clean, reliable energy to the nation!  CARE is not just another solar project—it’s a game-changer for the Bicol region. As the first utility-scale solar power project in the area, CARE boasts an impressive 74.2MWp of ground-mounted solar PV capacity. This project is set to make waves by feeding sustainable energy into the national grid and significantly reducing carbon emissions. 

              But the impact doesn’t stop there! CARE will supply most of its electricity production through a 10-year Power Supply Agreement with a subsidiary of Aboitiz Power Corporation Group, ensuring stable revenue streams and further cementing its role in the region’s energy landscape. Nexif Ratch Energy’s commitment to the Philippine renewable energy market is clear. With the 145MWp NPSI solar project already in development in Visayas and exciting wind energy projects on the horizon—including the San Miguel Bay nearshore wind project (up to 500MW) and the Lucena offshore wind project (up to 450MW)—NRE is at the forefront of the nation’s shift towards a greener future. Mr. Cyril Dissescou, Chief Executive of Nexif Ratch Energy, expressed his enthusiasm: “We are delighted to announce the successful commercial operation of the Calabanga Solar Project, our first operating project in the Philippines. CARE demonstrates our commitment to delivering reliable and sustainable energy solutions, contributing to the Philippines’ renewable energy objectives.” This milestone marks the beginning of a new era for renewable energy in the Philippines, with Nexif Ratch Energy leading the charge. Stay tuned as NRE continues to power up the nation with innovative and sustainable energy projects! #RenewableEnergy #SolarPower #Philippines #Sustainability #CleanEnergy #NexifRatchEnergy #CalabangaSolar #BicolRegion #WindEnergy #GreenEnergy #EnergyTransition

 Vattenfall Kicks Off Construction of 23MW Solar Project with Direct Community Involvement in Germany! 

Vattenfall has officially begun construction on a 23MW ground-mounted photovoltaic system, marking a significant milestone in the energy transition. What makes this project truly remarkable is that it’s the first of its kind where local residents can directly participate financially! 🌍💶

The solar park, located in Silberstedt, Schleswig-Holstein, has attracted numerous community members eager to invest in the future of clean energy. By taking advantage of this unique opportunity, they have become active participants in driving the energy transition right in their own backyard. 🏡🔋

This ambitious project is being developed without any government funding—a bold move that sets a new standard for community-driven renewable energy initiatives. Companies like Vattenfall are now allowed to engage local citizens as investors in large-scale solar parks, paving the way for more community-centered energy projects. 🌞👥

In Silberstedt, residents have been able to participate through a “qualified subordinated loan,” offering an attractive interest rate of 6.3% per year over the loan term. This pilot project is just the beginning, with Vattenfall planning to replicate this model in future solar parks across Germany. 🚀

Claus Wattendrup, head of Vattenfall’s solar & batteries business unit, shared his excitement: “When we introduce our solar projects in communities, we’re often asked about direct citizen participation. This new form of engagement, made possible through the Asset Investment Act, was complex to implement, but we’re thrilled to see it come to life in Silberstedt. My heartfelt thanks go to the team that made this possible. Silberstedt is just the start—more projects like this are on the horizon.” 🌟

But that’s not all! The benefits for the Silberstedt community go beyond direct financial participation. Vattenfall will contribute the maximum legally allowed amount of 0.2 cents to the municipality for every kilowatt hour of solar power generated, along with trade tax revenue from the solar park’s operations. Plus, residents can enjoy green electricity at reduced rates for up to two years through the “citizen electricity” program. 🌱💡

This groundbreaking project not only empowers the local community but also sets a powerful example of how we can all be part of the energy transition. Stay tuned for more community-driven solar projects from Vattenfall! 💪🌍

#RenewableEnergy #SolarPower #CommunityDriven #Vattenfall #EnergyTransition #GreenEnergy #Sustainability #Germany #CitizenParticipation #CleanEnergyFuture

Bute Energy Calls for Action on Renewables Development in Wales 

Welsh renewables developer Bute Energy is urging the newly elected First Minister, Eluned Morgan MS, to address the pressing challenges holding back the development of renewable energy in Wales. Managing Director Stuart George emphasized the critical need for swift action to ensure Wales can meet its ambitious energy and net zero targets.

Commenting on the election of the new First Minister, Stuart George stated:

“I extend my congratulations to the new First Minister and her cabinet colleagues and wish them well. The First Minister and her government face a huge number of challenges, not least in progressing the government’s own energy and net zero agenda. Whilst we continue to make progress, Wales is not guaranteed to hit those targets. Wales must make a huge leap forward in the consenting of new renewable energy projects to meet those aspirations and maximize the opportunities arising from the significant investment in the coming years.”

George highlighted several barriers that need to be addressed to unlock the full potential of renewables in Wales. These include stretched planning authorities, skills shortages, and the readiness of Welsh businesses to seize significant investment opportunities.

The call to action from Bute Energy underscores the urgency of overcoming these obstacles to accelerate the transition to renewable energy and capitalize on the economic benefits of sustainable development.

As the new First Minister and her cabinet settle into their roles, the spotlight is on their ability to navigate these challenges and drive forward Wales’s green energy agenda. The future of renewable energy in Wales hinges on decisive action and effective collaboration between the government, developers, and local businesses.

Stay tuned for more updates as Wales strives to become a leader in renewable energy!  #RenewableEnergy #Wales #ButeEnergy #GreenFuture #NetZero #SustainableDevelopment #EnergyTransition #WelshGovernment #ElunedMorgan #CleanEnergy #ClimateAction