Month: November 2022

               Glennmont Partners and SK D&D have signed a shareholders agreement to establish a joint venture to co-invest in solar projects in South Korea. The new agreement follows the previous MoU agreement from June this year, for co-investment in the solar projects, and builds on the “existing synergy between SK D&D and Glennmont to accelerate the deployment of capital in renewable energy by acquiring solar PV projects”. The signing ceremony was held at SK D&D headquarters (Pangyo ECO Hub) with Hae-zoong Kim, head of SK D&D Energy Solutions division, and Fabian D’Avola, Head of Investment Glennmont Asia Pacific, in attendance. In accordance with the agreement, the two companies will establish a joint venture as a financial platform, and as the first step, they plan to acquire, build and operate 80MW of solar PV projects, approximately valued at €115m. As part of the agreement, SK D&D will originate, operate and dispatch the electricity the portfolio.

               Glennmont has managed assets of more than €3bn and will own the investment as part of its focus on the energy transition in Europe, Asia and USA. Francesco Cacciabue CFO and Founding Partner at Glennmont Partners, said: “This contract with SK D&D is a significant milestone for Glennmont to enter the Korean solar market. “We will continue to invest in the Asia Pacific with a concentration on the Korean renewable energy market as we look to broaden opportunities for investors to accelerate the energy transition and decarbonise their investment portfolios. “Simultaneously, SK D&D, a leading renewable energy company focused on solar PV, onshore wind and storage, is pursuing sustainable management practices that will allow it to benefit from expansion and integration of different green energy areas such as green electricity trading, hydrogen fuel cell, and offshore wind power.”

Credits: renews.biz [Image: Unsplash/APPA]

                 Black & Veatch has been awarded a lead role in the development of an initial 2GW of solar and battery storage by UK-based developer Amberside Energy. Black & Veatch will deliver technical advisory and support services for Amberside’s Solar & Storage Portfolio Framework Agreement. The framework covers standalone solar PV, standalone battery, and co-located solar PV and battery sites across Great Britain. As well as planning and design of solar and battery storage systems Black & Veatch will plan and design the electricity distribution and transmission assets; in addition to managing interfaces with National Grid and distribution network operators.

               Black & Veatch’s role also encompasses creating independent energy production estimates for each site, with projects expected to range in capacity from 20MW to 100MW. “These projects add vital energy to the grid in challenging times. As both a developer and asset optimiser, Amberside Energy’s innovative and forward-thinking approach to this major solar and storage portfolio comes at a pivotal time,” said Black & Veatch Associate Vice-president & UK Director Robbie Gibson. Marc Scambler, CEO of Amberside Energy, stated: “We chose Black & Veatch because of their global experience, diligent approach and alignment with our drive for engineering excellence in everything we do. This portfolio is part of our suite of plans, all chosen to support the UK in achieving its decarbonisation targets.”

Credits: renews.biz [Image: Pixabay]

                 Ridge Clean Energy (RCE) has submitted a planning application for the hybrid renewable energy Six Oaks Renewable Energy Park project. The proposed 49.9MW solar farm with battery storage is situated about 1.4km southeast of Bottisham in East Cambridgeshire. The project would also include species-rich seed mix in between the rows of solar panels to encourage wildlife including bees and birds. Through an array of ecological enhancements, the site aims to deliver a net gain of 66% to local biodiversity. Existing hedgerows are to be enhanced with extra planted where necessary to provide additional screening and to benefit wildlife. The associated Six Oaks Community Benefit Fund is projected to provide £25,000 per year for the lifespan of the project (up to 40 years).

                 In addition to the Community Benefit Fund, RCE will also provide up-front seed capital and development assistance for community projects, so people don’t have to wait until the completion of the build to start receiving benefits. “We develop each project with the scope to do so much more than generate power,” said Marjorie Glasgow, co-founder and CEO of RCE. “We believe that combining clean energy with the needs of communities is the most powerful way to tackle climate change and its impacts. “The Six Oaks Renewable Energy Park could help East Cambridgeshire adapt to the biggest challenges currently facing communities in the UK – climate change, energy security, and the rising cost of living,” Glasgow added. “The Ridge team have a proven track record in developing high-quality UK renewable energy projects whilst working alongside local communities to create enduring and sustainable local benefits.” Community Partnership Lead Daniela Jenkins added: “As a company we aim to develop a close partnership with local communities from the very start of a project. We have met with parish councillors, community groups and charities with the aim to encourage and support local communities on their path to net zero and we are working with a local group to improve biodiversity on the proposed site. “We are looking forward to supporting community projects and ideas, which could be EV charging, improving play parks or local cycle networks.”

Credits: renews.biz [Image: Pixabay]

               Swiss renewables developer Terra Sola has signed an MoU with H2 Industries to support its development of green hydrogen projects across Africa. The agreement supports Terra Sola’s development of large-scale integrated solar energy projects for selected countries across Africa integrated with H2 Industries’ liquid organic hydrogen carriers (LOHC) technology. These projects could enable the storage and release of electrical power for export, use as a local industrial feedstock, or for grid stabilisation and/or off-grid power availability. The multimillion US dollar cooperation is aimed at accelerating the transition of local industries to renewable energy, driving electrification, and boosting socio-economic development in these selected countries.

               Terra Sola brings together financial, technological, and development partners to establish large-scale PV power plants, primarily in the Middle East, as well as Africa, where there is high demand for energy. Terra Sola, through its Algeria based development arm Terra Sola PV Production Algérie, is active in more than 17 African countries with a combined project pipeline of more than 10GW of installed solar capacity, combined with various socio-economic benefits for their host countries, like education and job-creation programmes and the localisation of industrial production and knowledge transfer. H2 Industries’ LOHC technology can convert power from renewable energy into hydrogen, store and transport it in LOHC and then release it for power generation, via fuel cells, in any location or for direct use in industry and/or mobility sectors, on-grid, or off-grid.

               Atlas Renewable Energy has commenced commercial operations at a 300MW solar plant in Mexico. La Pimienta, now fully operational, is located in the state of Campeche and is the second largest operational solar plant in Mexico, stated Atlas. The plant will supply energy to CFE under a 15-year contract to support the power needs of the Yucatan peninsula. La Pimienta is composed of more than a million solar panels, which are spread across 651 hectares. La Pimienta represents the first large-scale solar renewable energy investment in Campeche, with the participation of the Interamerican Development Bank (IDB), National Bank of Public Works and Services (Banobras), MUFG Bank, Sumitomo Mitsui Banking Corporation (SMBC) and Société Générale. “We are very proud that our largest project to date is now fully operational. This project is very special for us, as we are able to supply clean energy to the Yucatan Peninsula and avoid the emission of more than 1.7 million tons of CO2. “In addition, we are able to promote unique social and environmental programs that will contribute to the well-being of the surrounding communities and the preservation of the local ecosystem,” said Camilo Serrano, General Manager for Atlas Renewable Energy in México.

               The construction of La Pimienta created over 1000 jobs where the local workforce was prioritised. Atlas’ flagship programme, “We are all part of the same energy”, trained 355 local women in technical skills and hired 165 of them, raising female representation from a traditional 2% to 15% during the construction of these types of projects. Atlas also implemented Project Carmen; a programme in partnership with the local health authorities focused on bringing accessible healthcare to the nearby communities through the construction, rehabilitation and equipment of two health centres. The company also supported the community with the installation of dry bathrooms and wood-saving stoves for over 40 families. Taking care of the environment and protecting the local ecosystem was also a main focus, stated Atlas. The company implemented a biodiversity programme to preserve the local flora and fauna and enhanced a natural corridor within the plant, to improve the habitat of local species. The company is also reinserting local flora that was rescued during the construction phase of the plant, and it will execute a 450-hectare reforestation programme, expecting to plant close to 100,000 specimens.

Credits: renews.biz [Image: Atlas Renewable Energy

               Low Carbon has begun construction of four solar farms in the Netherlands, with a combined installed capacity of 53MW. The projects are the first to be financed by the renewable energy investor’s multi-bank debt facility, established in August with NatWest, Lloyds Bank and AIB. In total, the facility is anticipated to create at least 1GW of new renewable energy capacity. Belectric has secured a contract with Low Carbon to build the four projects. The four solar plants will be located in the provinces of Groningen (26.7MW) and Overijssel (7.4MW) as well as near Wijk bij Duurstede in the province of Utrecht (10.3MW and 8.7MW). The project in Groningen will be equipped with a battery storage system.

               In addition, one of the two solar farms close to Wijk bij Duurstede will see Belectric collaborate with a research facility, a Dutch university and a local farmer to test an agrivoltaics system on a part of the site. “The construction of four new solar projects in the Netherlands is an important milestone for Low Carbon. “We are delighted to be partnering with a specialist EPC service provider like Belectric, as we grow our international renewable energy portfolio,” said Justin Thesiger, Director of Operations and Asset Management at Low Carbon. Esther Jantosch, Head of Sales Netherlands at Belectric, added: “We are proud to be partnering with Low Carbon. “Their ambitious goals in terms of not only growth but also a more sustainable energy generation align extremely well with ours. “We are excited to work hand in hand on their extensive pipeline of solar plants.”

Credits: renews.biz [Image: Belectric]

               Polish O&M services company Nomad Electric expects to sign contracts to manage over 1GWp of assets in the coming months. At present, the company provides technical services for more than 800MWp. So far this year, it has signed O&M contracts for utility-scale PV installations with a total capacity of 374MWp. In addition, the company aims to expand geographically with its first projects in Iberia and Italy. “Already signed contracts are the best proof of trust among investors and confirmation of our performance,” said Pawel Czaus, CEO of Nomad Electric. “The O&M area is driving innovation in the sector, particularly digitisation, data processing and the use of drones. That is why, at Nomad Electric, we use and invest in state-of-the-art equipment and technologies, but we are also constantly looking for new solutions, especially in the areas of big data processing and Machine Learning algorithms.”

Credits: renews.biz [Image: Nomad Electric]

               Clean energy solutions company Enviromena has secured unanimous approval from planners for a 30-acre solar farm near Aberdare, South Wales. The 9MW project was presented by Enviromena in partnership with RE Projects Development and will be built over four fields accommodating between 16 and 23 rows of south-facing photovoltaic panels. The site will keep all existing hedges and vegetation, and continued agriculture, with the lowest edge of the panels raised above the ground to enable sheep to continue grazing at the location. The Bryngolwg site will be capable of providing power to over 2,500 homes and will offset around 3,700 tonnes of carbon emissions per annum once operational.

               Bryngolwg is Enviromena’s first project in the principality, but the clean energy company is currently constructing other large sites across England, including a 24.2MW Horsey Levels project in Somerset and a 17.9MW project in Kiln Fields, Hampshire – the latter also received unanimous approval from Hart District Councillors back in July. Councillors on the Cynon Valley Council planning committee voted 8-0 in favour of the application at Bryngolwg Farm on Rhigos Road in Hirwan, Rhonnda Cynon Taf. Enviromena’s European Sales Director Lee Adamssaid: “This is our second site to receive unanimous planning approval in four months and we believe that local planners are reacting to the urgent need for renewable energy to tackle rising electricity bills together with the need to meet the UK Government’s new targets to double existing renewable generation capacity by 2030.

Credits: renews.biz[Image: Shutterstock]

               First Solar has entered into agreements to supply an additional 4900MW (DC) of its thin film photovoltaic (PV) modules to Intersect Power. When combined with a previously announced agreement for 2.4GW (DC) signed in July 2022, these transactions take Intersect Power’s total orders for First Solar modules this year to 7.3GW (DC). Of the 4.9GW, the agreement to supply 1GW was signed prior to First Solar’s third quarter 2022 earnings call in October, while the agreement to supply the remaining 3.9GW was signed subsequent to the October earnings call. The orders placed by Intersect Power this year will see a combination of First Solar’s Series 6 Plus and Series 7 modules deployed in its solar, storage, and green hydrogen projects coming online across the US from 2025 to 2029.

               “We have an unprecedented opportunity to decarbonize our economy while simultaneously bolstering our manufacturing sector and providing clean energy security,” said Sheldon Kimber, chief executive officer, Intersect Power. He added: “First Solar’s responsibly produced, high-performance modules are the cornerstone of our commitment to American technology and workers. “Our country’s energy transition must be American made.” Prior to 2022, Intersect Power had placed orders for a total of 4.1GW (DC) of modules in deals signed in 2019 and 2021. “Intersect Power was one of the early pioneers of long-term, multi-year procurement and has benefitted from the certainty of supply and stable pricing that this approach delivers,” said Georges Antoun, chief commercial officer, First Solar. “We’re proud of this enduring partnership and we’re thrilled that, as Intersect Power continues to scale, its growth will be underpinned by American solar technology produced by First Solar.”

Credits: renews.biz[Image: First Solar]

               Keppel Infrastructure Holdings (KI) has formed a JV company, Keppel MET Renewables, with Swiss-based integrated European energy company MET Holding (MET Group), to pursue renewable energy opportunities in Western Europe. The JV between KI and MET Group serves as the next phase of their strategic partnership since KI invested 20% in MET Group in 2020. The new JV, Keppel MET Renewables, will pursue and invest in both greenfield and brownfield solar and onshore wind assets across Western Europe, which will complement MET Group’s businesses across Europe. The JV has a target to scale up rapidly to at least 1GW of operating and ready-to-build renewable energy projects. As part of the strategic deal, KI divested a 10% stake, out of the 20% it owned, of MET Group to Benjamin Lakatos, the founder and chief executive of MET Group, and reinvested the proceeds, including gains, from the divestments into the JV. KI will invest approximately €30m as start-up equity into Keppel MET Renewables.

               Subsequently, KI and MET Group will each hold 49.9% in Keppel MET Renewables, with the remaining 0.2% to be held by Lakatos. Keppel MET Renewables will be seeded with an initial portfolio of 213MW of early-stage solar projects in Italy from MET Group. These assets are expected to achieve commercial operations, in phases, between end-2024 and mid-2025. Both Keppel Infrastructure and MET Group will leverage Keppel MET Renewables to accelerate the growth and transformation of their power generation portfolio towards more renewables and low carbon energy infrastructure assets. This further underscores the commitment towards achieving Keppel’s Vision 2030 goals and MET’s 2GW renewables target. Upon the completion of this investment, the Keppel Group will have approximately 2.6GW of renewable energy assets on a gross basis, including assets under development. Cindy Lim, chief executive of KI, said: “Solar and wind energy will be cornerstones for the EU to promote the uptake of renewables-based electrification in transport, heating and cooling, and facilitate the achievement of its energy transition aspirations. “The European Green Deal and the REpowerEU plan give rise to vast opportunities for renewable energy projects and sector coupling across the EU economy which aim to set a more resilient and sustainable energy system. “Keppel Infrastructure is pleased to leverage our existing strategic relationship with MET Group to expand our geographical presence in Europe and accelerate the growth of our renewable energy portfolio. “The initial portfolio of Italian solar assets offers an attractive platform for us to form a beachhead in the burgeoning renewables sector in Western Europe. “Keppel MET Renewables will continue to pursue such opportunities in other Western European countries, such as France, Germany, Portugal and Spain, and take our business to the next level.” Lakatos added: “I am excited that we are stepping up to the next level of strategic partnership with Keppel. “The renewables joint venture we have established is the right platform for our cooperation and fits perfectly within the long-term vision of both companies. “MET and Keppel are dedicated to support the energy transition in Europe.” After these transactions, MET Group remains a majority management-owned company operating under joint control, and Keppel Infrastructure will keep its representation on the board of directors of MET Group. The above transaction is not expected to have any material impact on the net tangible assets per share or earnings per share of Keppel Corporation, the parent company of Keppel Infrastructure, for the current financial year.

Credits: renews.biz [Image: MET Group ]