- DESRI has filed with the SEC to launch its IPO to be able to raise up to $100 million
- REV Renewables too wants to raise a similar amount under an IPO to get listed on the Nasdaq
- SolarEdge and PearlX Infrastructure have announced a Project TexFlex to deploy community solar and storage VPPs in Texas
- Standard Solar has acquired an operational community solar asset with 28.5 MW capacity in Idaho
DESRI planning IPO: Renewable energy independent power producer (IPP) D.E. Shaw Renewable Investments (DESRI) plans to launch an initial public offering (IPO) to raise up to $100 million, according to the company’s filing with the Securities and Exchange Commission (SEC). Renaissance Capital said DESRI plans to list on the Nasdaq under ticker DESR. The company’s utility scale solar, wind and battery storage projects under pre-construction, construction and operational phases in 25 US states represented a total of 6.468 GW, as on September 30, 2021.
REV Renewables too wants to launch IPO: Renaissance Capital has also announced another renewables company’s plan to launch an IPO to raise up to $100 million. REV Renewables plans to list on the Nasdaq under ticker RVR. It counts the company’s total energy storage and renewable power generation assets including pumped storage hydro, solar and wind farms as around 2.4 GW. REV Renewables a subsidiary of LS Power in which South Korean gas supplier SK E&S announced an equity stake in October 2021 (see South Korean LNG Producer To Invest In US RE).
SolarEdge & PearlX’s VPP: SolarEdge Technologies is collaborating with US based flexible energy provider PeralX Infrastructure have launched a Project TexFlex to deploy community solar and storage virtual power plants (VPP) targeting tenants to access clean energy. They say this is ‘1st-in-kind’ project for a series of residential clean energy projects they plan for renters throughout Texas. The 1st facility is to be launched in Q1/2022 under Project TexFlex at 2410 Waugh Apartments in Montrose neighborhood of Houston, Texas. While PearlX will own and operare the project which it will scale throughour the multi-family real estate market of Texas, SolarEdge will supply its hardware in the form of energy hub inverter and energy bank battery, and cloud-based grid services technology. SolarEdge will also provide design and engineering support.
Under the project, the program will facilitate the delivery of energy generated by the system back to the grid in near real-time while providing utilities with access to stored power when grid stabilization is needed or during energy shortages.
Standard Solar acquires 28.5 MW solar: Commercial and community solar operator Standard Solar has acquired a 28.5 MW operational solar project from funds managed by True Green Capital Management. It is the company’s 1st acquisition in Idaho and one of its largest to date. The project is located in Mountain Home, producing 54,716 MWh of clean energy annually since 2017 when it came online. Community solar is a growing segment in the US solar market as the country targets community solar deployment for 5 million households by 2025 (see 2025 Community Solar Target For US).