Nelnet to focus exclusively on commercial solar market; Turkey's Elin Energy ventures into US solar module manufacturing; Origis Energy lands MUFG financing; Nova Clean Energy acquires 1 GW HyFuels project; SEIA educates on safety of solar panels.
Strategic move for Nelnet: Nelnet Renewable Energy has announced the strategic move to focus exclusively on the commercial solar market. The decision to move out of residential solar is due to the challenging regulatory and economic conditions within the residential solar market, it explained. Nelnet plans to continue honoring its existing warranty and contractual obligations for residential projects installed to date. In the commercial space, it will focus specifically in the Midwest and New York. Nelnet Renewable Energy is a division of the publicly traded diversified financial services and technology company Nelnet.
Turkish manufacturer enters US: Elin Energy, the Turkey-headquartered solar PV manufacturer, has ventured into the growing US market with a new solar module manufacturing factory, starting with 1 GW annual production capacity. In the future, it will be expanded to 2 GW. Elin's maiden US fab will operate under the brand Sirius PV USA. The factory covers 225,000 sq. ft. space in Waller County's Twinwood Business Park near Houston, Texas.
Solar project bags financing: US renewables company Origis Energy has secured a $136 million construction facility and conversion to term loan for the 75 MW Rice Creek Solar Project. The financing from MUFG will support the solar plant contracted by the Florida Municipal Power Agency (FMPA), one of the country's largest municipal-backed solar initiatives. Origis says the project is nearing completion in Florida's Putnam County. It expects the facility to qualify for an Energy Community Adder to Investment Tax Credits under the Inflation Reduction Act (IRA).
Nova acquires HyFuels: Renewable energy developer Nova Clean Energy has acquired over 1 GW of mid-to-late-stage wind and solar development projects along with an early-stage green ammonia project in the US. The project HyFuels is located on the Texas Gulf Coast to serve the petrochemical industry. It acquired the project from BNB Renewable Energy (BNB) with whom it has signed a long-term development services agreement. Nova says HyFuels has a current project footprint of about 25,000 acres and a power supply split evenly between wind and solar. Phase I of the project is expected to reach full notice to proceed (NTP) in 2025 and commercial operations will begin in 2026.
Solar panels are safe: The President and CEO of the Solar Energy Industries Association (SEIA) Abigail Ross Hopper has refuted reports that claim broken solar panels can be a threat to the environment. She was referring to recent news of the Fighting Jays Solar Farm in Texas getting damaged due to severe hailstorm sparking fears of leaching of the toxic substances. Hopper explained that the panels on site were hit by golf ball-sized hail that damaged them. Yet most of the panels survived despite the fact that these were not built to withstand such large hail. These contain silicon that is as it is commonly found in sand and quartz. Since silicon is abundantly available in the Earth's crust, it is not harmful to the environment.