Lightsource bp signs up McDonald's for US solar project & commissions 239 MW DC solar plant; New Jersey to aim for 100% clean energy by 2035; SIRC acquires AVCO Roofing; Sofos Harbert now becomes Grenergy US.
McDonald's enters PPA for Louisiana project: Fast food chain McDonald's Corporation has turned the sole offtaker for energy sourced from 180 MW DC/145 MW AC Prairie Ronde Solar Project in Louisiana from Lightsource bp. Located in St. Landry Parish, the solar power plant is expected to generate close to 327,000 MWh annually which is equivalent to around 630 restaurants' worth of renewable electricity annually. Lightsource bp will finance, build, own and operate the facility that will help advance McDonald's sustainability goals. Construction on the project is expected to begin in early 2023 for commercial operations to begin in late 2024. This is the 2nd PPA deal between the 2 companies that previously in August 2021 announced a deal for 345 MW DC solar project (see Lightsource BP Secures Corporate Solar PPA For 345 MW DC).
239 MW DC solar plant online in Colorado: Meanwhile, Lightsource bp has announced commercial operations of its 239 MW DC Sun Mountain Solar Project in Colorado, US. Power generated is contracted to be supplied to Xcel Energy under a long-term power purchase agreement (PPA). Equipped with First Solar panels and trackers from Array Technologies, the project was completed by McCarthy Building Companies as its EPC service provider.
New Jersey's clean energy mandate: The US state of New Jersey says it is committing to generating 100% of its electricity from clean energy sources by January 1, 2035 according to the Executive Order No. 315. Titled Next New Jersey, the plan is for the state to achieve this target through clean energy market mechanisms, paired with support for a Clean Energy Standard. It has also announced electrification of the state's building sector and look into planning the future of the state's natural gas utilities. Sharing these measures in an address at Rutgers University recently, New Jersey Governor Phil Murphy added that all new cars and light-duty truck sales in the state will also need to be zero emissions vehicles by 2035. There are no specific targets mentioned for clean energy in the new plan as of now. According to the Solar Energy Industries Association (SEIA), at the end of Q3/2022, New Jersey had 4.27 GW solar installed.
SIRC to acquire AVCO Roofing: US based solar power, roofing and EV solutions company Solar Integrated Roofing Corp (SIRC) is to acquire fellow roofing and solar solutions company AVCO Roofing that provides these services to commercial and residential properties. The binding letter of intent (LOI) is operating in the markets of Texas, Oklahoma and Louisiana having completed over 10,000 projects, it stated. For SIRC, the acquisition is aimed at expanding the growth of its roofing business and follows the news of its recent funding of $10 million as revolving credit facility and $25 million term note to finance growth.
Grenergy becomes sole owner of Sofos Harbert: Spanish renewables company Grenergy has acquired the remaining 60% stake in US based solar PV and battery storage projects developer Sofos Harbert Renewable Energy. It had announced its foray into the US market in early-2022 with a 40% stake in Sofos (see Spanish RE Company Forays Into US Market). Sofos now becomes the company's US subsidiary and is renamed Grenergy US with 1.9 GW solar power capacity under development. Grenergy said this operation is significant as it accelerates growth in a market that represents 10% of its total projects. The Spanish company targets to report 5 GW installed capacity of solar and wind, along with 1 GWh of storage capacity in operation and under construction by 2025.