NextEra Energy & PGE energize North America's maiden utility scale RE hybrid plant; Lightsource bp moves ahead with 250 MW AC project in Arkansas; Northleaf sets up MSR; TC Energy building solar and flow battery storage project; Suncor exits solar and wind.
Hybrid renewable energy plant commissioned: NextEra Energy Resources, LLC and Portland General Electric (PGE) recently commissioned what they term as the 1st utility scale energy facilities in North America to co-locate wind, solar and battery storage capacity. The Wheatridge Renewable Energy Facilities near Lexington in Oregon's Morrow County comprises 300 MW wind, 50 MW solar and 30 MW storage capacity. It is designed to power the equivalent of 100,000 homes. It was originally planned as a wind farm alone, but NextEra purchased its development right and along with PGE expanded its scope to also include solar and storage. Power generated will be supplied to PGE customers through a new transmission line. While 100 MW of the wind farm is owned by the PGE, a NextEra subsidiary owns the remaining capacity that will sell output to the PGE under 30- and 20-year power purchase agreements (PPA). "Bringing wind, solar and energy storage together at one site is quite a significant moment for renewable technologies," said NextEra Energy's President and CEO Rebecca Kujawa. "These facilities generate low-cost, homegrown energy and will provide millions of dollars in additional tax revenue to Morrow County over the life of the project."
250 MW solar project approved: Lightsource bp says the Arkansas Public Service Commission has approved the 312 MW DC/250 MW AC Driver Solar Project. To be located near Osceola in Mississippi County, it will be the largest solar facility for Entergy Arkansas in Arkansas. It will be situated adjacent to the US Steel's Big River Steel Facility that will source power from the same to produce its verdeX product that uses up to 90% recycled steel, among other products. Lightsource acquired the project from original developer Acadian Renewable Energy, LLC and will now build it under a build-transfer agreement with Entergy Arkansas. The project will be completed in late 2024 with First Solar's Ohio made modules and solar trackers from Array Technologies.
New platform for RE lease income: Global private markets investment firm Northleaf Capital Partners has set up a new platform to acquire lease income streams generated by renewable energy projects across the US. Madison Street Renewables (MSR) will invest $150 million in equity investments through 2025. It will be led by Peter Harsy as the CEO. "The formation of MSR aims to provide Northleaf investors with access to long-term reliable revenue streams from a diversified portfolio of renewable power projects while simultaneously giving project landowners the ability to secure immediate upfront payment of their lease compensation," said Managing Director, Infrastructure and Head of Northleaf's Los Angeles office, Olivier Laganière.
TC Energy starts building its maiden solar project: Canada based energy infrastructure company TC Energy Corporation has strated building its 1st solar project in Canada, worth $146 million. To be located near Aldersyde, Alberta in the local industrial park owned by the company, the Saddlebrook Solar Project will generate 81 MW solar power which will be combined with a flow battery energy storage system. Construction is scheduled to be completed in 2023 and power generated will hemp bring down GHG emissions in Alberta. The project is supported by $10 million from Emissions Reduction Alberta. The company says it has acquire over 400 MW renewable power through PPAs in the Canadian province over the last 24 months.
Suncor Energy exits solar and wind projects: Canada headquartered integrated energy company has announced the decision to exit the solar and wind energy space, selling these assets for $730 million to Canadian Utilities Limited. It will instead focus on hydrogen and renewable fuels that it says are more complementary to its core business of oil sands development, offshore oil and gas, petroleum refining and the like.