Month: August 2023

               IT infrastructure supplier Atea has signed a 10-year PPA with Better Energy to offtake energy from a new solar project in Denmark. When connected to the grid later this year, the project is expected to deliver an additional 70GWh per year of renewable energy. The PPA will also allow Atea to offtake one-third of its energy consumption in Denmark. With a long-term agreement for green electricity in place, Atea can also focus on other sustainable practice initiatives, such as working with its partners to recycle and repurpose electronic devices.

               Andreas Schjølin, sustainability manager at Atea, said: “By partnering with Better Energy, we will help contribute to creating more green electricity, rather than just purchasing the energy that already exists on the grid. “By directly procuring renewable energy through a PPA, companies can showcase their commitment to sustainability and environmental leadership. “It demonstrates a genuine effort to reduce carbon emissions and support the development of clean energy technologies.” Mikkel Thorup, director of PPAs at Better Energy, added: “Atea holds a prominent position in the IT industry, and we are excited to welcome them as a Better Energy partner. “Like many progressive IT and software companies, they are taking the important steps to ensure the energy they consume is green. “As we scale production of renewable energy, there will continue to be opportunities for innovative companies across all sectors to offtake clean electricity and participate in the green transition.”

Credits: renews.biz [Image: Better Energy]

               German joint venture Secursun has started the construction of the first solar parks from its portfolio of around 1100MW in the country. In total, more than 50 utility solar parks will be completed between the end of 2023 and 2026. All plants will be planned and constructed by the Berlin-based project developer Securenergy Solutions and Sunotec, a company specialising in construction of solar parks. The two companies each have a half share in Secursun. Construction of at least seven solar parks from the JV’s portfolio will begin this year.

               Among the first are the solar plants in Utzedel (near Demmin) and Brusow (near Kröpelin) both in Mecklenburg-Western Pomerania. Ground-breaking of the site in Dallgow-Döberitz in Brandenburg (outside Berlin) will follow soon. The average project size in the 1.1GW pipeline will be around 20MW. Individual solar parks of up to 150MW are also planned. The solar plant in Frankenförde near Luckenwalde, about an hour’s drive south-east of Berlin, for example, will have a capacity of about 42MW. Construction is scheduled to start end of the year. “Since the launch of our joint venture last November, less than a year has passed. “The fact that the planning went so quickly was only made possible by the close cooperation between Securenergy Solutions and Sunotec.  “Now work has started at several locations at the same time,” said Holger Stabernack, CEO of Securenergy Solutions. Last year, an overall capacity of 7.2GW of solar was built in Germany (ground-mounted and roof tops) and the Secursun portfolio planned for the next three years accounts for comparatively 15% of this alone. “We are very pleased that we can contribute to the ambitious expansion targets in Germany with our more than 50 projects. “It requires lots of speed to achieve what we need in terms of the energy transition in Germany,” said Stabernack.

Credits: renews.biz [Image: Sunotec] 

               ACWA Power has announced the financial close of its Al Shuaibah 1 and Al Shuaibah 2 Saudia Arabian solar projects, which have a combined capacity of over 2.6GW. Situated in Al Shuaibah in the Makkah Province, the Al Shuaibah PV 1 and Al Shuaibah PV 2 will have a capacity of 600MW and 2031MW respectively. The US$1.63bn senior debt financing for this plant includes a US$450m, Saudi riyal denominated loan from the National Development Fund on behalf of the National Infrastructure Fund (Under Establishment), as well as US$1.18bn, US-dollar denominated commercial facility from a consortium of local, regional and international banks (Bank Saudi Fransi, First Abu Dhabi Bank, Mizuho Bank, Riyad Bank, Saudi National Bank, Standard Chartered Bank and Saudi Investment Bank).

               The total investment in the plant amounts to US$2.37 billion, and commercial operations will commence in 2025. Saudi Power Procurement Company (SPPC) is the procurer and the offtaker for the projects. ACWA Power owns 35.01% of the projects, with Badeel, a subsidiary of Public Investment Fund (PIF), holding 34.99% and Saudi Aramco Power Company (SAPCO) holding the remaining 30%. Marco Arcelli, CEO of ACWA Power, said: “Securing financing for this groundbreaking project marks a significant step towards achieving Saudi Arabia’s clean energy goals, in alignment with the National Renewable Energy Program, which aims to generate 50% of electricity from renewable sources by 2030.”

Credits: renews.biz [Image: ACWA Power]

               European Energy’s 115MW solar project in Broceni, Latvia has entered its final development stages. Once constructed, the solar farm is poised to become one of Latvia’s largest photovoltaic projects. The project is scheduled to be connected to the Latvian grid by 2025. Once operational, it is projected to generate an estimated 120,000MWh of renewable electricity annually.

               “With its high capacity, the green power generated in Broceni will significantly contribute to our nation’s energy grid, catalysing Latvia’s shift towards a greener economy while positively impacting the electricity market in the long run,” said Alnis Baliņs, Head of European Energy Latvia. “As we continue to expand renewable energy infrastructure, we envision a stronger impact on our economy and energy security, ultimately benefiting citizens through reduced electricity and heating costs.”

               Thorvald Spanggard, Executive Vice-president and Head of Project Development in European Energy, added: “Since our establishment in Latvia in 2021, European Energy has leveraged its global expertise to drive the development of solar and wind energy projects in the country. “We are happy to be part of Latvia’s journey towards a sustainable future, and our upcoming portfolio of wind and solar projects in Latvia, with a combined capacity of more than 1.5GW, underscores our dedication to making renewable energy accessible to all.”

Credits: renews.biz [Image: European Energy] 

               Electrify America has announced the commercial operation of its 75MW solar project in San Bernardino County, California. Electrify America Solar Glow 1 is the result of a 15-year virtual PPA with developer Terra-Gen. The project is expected to produce 225GWh annually to help offset the energy carbon footprint for Electrify America’s electric vehicle chargers.

               This brand new construction contributes to “additionality” by producing renewable energy that may not otherwise be available, the company said.  President and chief executive of Electrify America Robert Barrosa said: “Electrify America Solar Glow 1 is an important milestone in our commitment to reduce our energy carbon footprint. “Electrify America is committed to being a part of the broader charging solution for EV drivers today and in the future.” This investment is expected to generate 75MW at peak solar capacity, which is comparable to the power drawn by 500 EVs charging at once at an average speed of 150 kilowatts.

Credits: renews.biz [Image: Electrify America]

               ITM Power has launched a 20MW core electrolysis process module suitable for scaling up into large-scale electrolyser and green hydrogen projects.  The Poseidon module has been engineered by ITM incorporating “real-world lessons learned from commercial projects”. It is a standardised module with an optimised footprint consisting of skid-mounted units which can be pre-fabricated and pre-tested. This reduces deployment timelines and construction costs, and de-risks projects, ITM said. The module is suitable for indoor and outdoor installation and can be efficiently integrated into the balance of plant. Poseidon is available now and ITM has started bidding the module into commercial projects.

               Chief executive Dennis Schulz said: “Green hydrogen project sizes continue to scale, and ITM is responding with a new product release. “Poseidon is a game-changer for large-scale electrolyser deployments.” In its final results for the year ended 30 April 2023, ITM reported adjusted EBITDA loss of £94.2m (FY22 £39.8m) in line with the £85m to £95m guidance and revenue of £5.2m (FY22 £5.6m), ahead of guidance of £2m. The company has made progress against its 12-month priorities plan, including a “significantly simplified” product portfolio, concentrating on its core product suite. In its financial guidance for FY24, ITM expects revenue to increase to between £10m and £18m from commercial projects in execution, with adjusted EBITDA loss improving with growing output/sales and expected to be in the range of £45m to £55m. Schulz said: “I have been at ITM for just over half a year, joining the company at a time of challenging operational and financial performance, and it is encouraging to see the amount of progress we have been making against our 12-month plan laid out in January 2023. “The implementation, which is moving at pace, will strengthen our operational and commercial capabilities, and steer a successful path to becoming a highly efficient and reliable volume manufacturing company.”

Credits: renews.biz [Image: ITM Power]

               Greenbacker Renewable Energy Company has announced it has closed on a new warehouse financing facility in an initial aggregate principal amount of $75m, with the potential to increase up to $250m. The climate-focused investment manager and independent power producer will use the proceeds of the facility to support the construction and operation of its renewable power generation and energy storage portfolios.

               Wells Fargo serves as sole lead arranger, bookrunner, sustainability structuring agent, and administrative agent for the facility. Wilmington Trust, National Association is the collateral agent. Along with substantial borrowing capacity, the three-year revolving credit facility provides enhanced flexibility for Greenbacker’s sustainability investments. It is structured to provide commitments to extend revolving loans for eligible projects in an aggregate amount not to exceed $75m, which may be increased to an aggregate amount of up to $250m, and includes an up to $50m sublimit for issuances of letters of credit. Greenbacker is currently in market to upsize the facility through incremental commitments from other key lending relationships. The company will deploy borrowings from the warehouse facility into investments across its solar, solar-plus-storage, and standalone energy storage portfolios, expanding its ability to generate and deliver cheaper clean energy to consumers, communities, and corporations.

Credits: renews.biz [Image: Greenbacker]

               BayWa‘s renewable energy subsidiary has signed a series of long-term operations and maintenance (O&M) contracts with funds managed by Schroders Greencoat for its solar portfolios in the UK. These new agreements will see BayWa r.e. take on 16 solar photovoltaic (PV) sites with an aggregate capacity of 265MW. As part of the agreement, BayWa r.e. will provide a comprehensive range of preventative and corrective O&M services, in line with Schroders Greencoat’s standards to ensure solar assets operate at peak efficiency.

               BayWa r.e. operation services managing director Morgan Harris said: “We’re delighted to continue the operation and management of Schroders Greencoat’s solar portfolio. “Through our long-term partnership we recognise in them our own commitment to the green energy transition. “This agreement represents a huge amount of efficient green energy production and signifies a major step towards the UK ending its reliance on fossil fuels.” Partner at Schroders Greencoat Lee Moscovitch said: “Schroders Greencoat prioritises stable and reliable working relationships with our contracted O&M providers which we view as an essential component in delivering on the inflation linked income that our products are designed to deliver. “This collaboration is no exception. “We are pleased to be strengthening our ongoing partnership with BayWa r.e., and look forward to having the team continue their best-in-class O&M services across our solar assets, driving value for our investors.”

Credits: renews.biz [Image: BayWa r.e]

               Trina Solar has delivered a volume of 140MW of solar modules to Voltalia for the Karavasta solar project in Albania. The project will be one of the largest of its kind in the Western Balkans and was initiated following a call for tenders by the Albanian government in 2022, which was won by Voltalia. Trina Solar has partnered with Voltalia for this project and has been selected to provide its Vertex dual-glass bifacial modules. These will be mounted on single-axis trackers to suit the flat terrain of the 140MW solar plant.  The project is estimated to be live by end of 2023.

               Karavasta Solar is developed, built and operated by Voltalia and is financed by the European Bank for Reconstruction and Development (ERBD). Half of the electricity produced will be sold through a 15-year sales contract to the Albanian public operator, while the remainder will be sold through long-term contracts to private operators. Around 1% of the company’s total investment in Karavasta Solar will go towards social initiatives in the area. Additionally, 30% or more of the workforce is sourced from the local community in Albania during both construction and operation. Around 200 people are employed during construction of the project, and during operation, there will be 10-15 direct employees and 20-50 indirect employees working on site.  Country manager of Voltalia Albania Constantin von Alvensleben said: “Having launched Karavasta Solar in the summer of 2022, it’s incredible to be working with Trina Solar to bring the project to life. “We are dedicated to a cleaner, brighter future for all in a way that also directly benefits the communities where our projects are based, so we look forward to completing the project and seeing the difference it makes to the area.”

Credits: renews.biz [Image: Voltalia]

               Octopus Energy has teamed up with UK Power Networks to offer households free energy when there is excess renewable power. Participating customers will get free electricity when there is surplus electricity on the local grid from abundant renewables. Based on UK Power Networks’ forecasts, Octopus will send customers a notification of the times they can “power-up” their homes for free a day in advance. In recent years, the transmission grid has begun to face challenges of imbalance when energy supply exceeds demand (such as sunny or windy weather leading to excess renewably-generated power).

               Grid operators like UK Power Networks are looking into alternative means of balancing the grid, to avoid turning off these renewables generators during surplus. Octopus has “long championed a far better solution” that involves unlocking this energy to benefit customers, reduce consumption at other times, avoid wastage, stabilise the grid and put money back into customer’s pockets. Last winter, Octopus spearheaded the first “demand response” project ever run by National Grid’s Demand Flexibility Service (DFS). Nearly three quarters of a million Octopus Energy customers signed up to use less at times of stress on the grid and diverted £5.4m to UK householders rather than gas power plants. Director of distribution system operator at UK Power Networks Sotiris Georgiopoulos said: “In response to growing volumes of renewable power, UK Power Networks is the first distribution system operator to call for ‘demand turn up’. “We’re delighted to have seen a strong response to the requirements we issued in December, including from innovators like Octopus. “Tapping into customer flexibility means we can connect more renewable energy, keeping costs down for our customers.”

Credits: renews.biz [Image: Octopus Energy]