- NTE Energy has announced it plans to develop over 5 GW of clean energy projects in the US
- Over the next 5 years, it will build 1.2 GW solar and 3.9 GW BESS projects with 3 GW to 4 GW expected to reach commercial operations by 2026
- Management said some of these will be co-located with new or existing thermal generation projects to provide economies of scale
NTE Energy has revealed plans to develop over 5 GW of clean energy projects in the country over the next 5 years. This capacity will come from the US based power generation company’s clean energy project development pipeline.
It comprises 1.2 GW of solar and 3.9 GW of battery energy storage systems (BESS), with 3 GW to 4 GW expected to reach commercial operations by 2026. Some of these projects will be co-located with new or existing thermal generation projects, to provide economies of scale, the management explained without identifying the projects or their locations.
The company did add that the clean energy pipeline is made up of projects in early-stage development to be located in the ISO-NE, MISO, ERCOT, NYISO, SERC, PJM and WECC markets. NTE Energy said it is currently working with its investment partners to advance the development of this pipeline.
So far, NTE Energy claims to have developed 127 GW of energy projects including wind, solar, combined cycle natural gas, coal, oil, biomass, hydro among others. It continues to work on natural gas portfolio with 2.7 GW capacity at various stages of development as it considers natural gas as complementary to intermittent renewable energy leading to firm, low-cost energy.
“By co-locating renewable projects with thermal generation, we can offer customers access to affordable renewable energy options backed up by reliable natural gas,” said company Managing Director Steve Remen.
By 2050, the Energy Information Administration (EIA) under the US Department of Energy expects the natural gas share to remain relatively flat at 36% in its Annual Energy Outlook 2021 while that of coal and nuclear power will fall by about half, but the share of renewable energy technologies is anticipated to account for close to 60% of the capacity additions from 2020 to 2050.