National Grid Renewables commissions 275 MW solar+125 MWh storage project; BIG acquires Radiance Solar; Leeward secures finance for 296 MW solar; Fusion Fuel & Electus Energy’s 75 MW green hydrogen project; Greenalia acquires 502 MW PV in US; Activate acquires real estate for 5 solar projects.
275 MW solar & storage project online in Texas: National Grid Renewables has brought online its largest solar energy project to date with 275 MW solar and 125 MWh energy storage capacity. The Denton County, Texas located Noble Solar and Storage Project is also the company’s 1st utility scale energy storage facility. It is equipped with First Solar’s next-generation Series 6 solar modules. Of the 275 MW capacity, The Home Depot and NRG Energy have each signed up to received 100 MW capacity through power purchase agreements (PPA), and The Hershey Company has contracted 50 MW.
Radiance Solar gets a new owner: Energy transition investment company Bravo Infrastructure Group (BIG) has acquired commercial and industrial (C&I) solar EPC firm in the US, Radiance Solar, LLC, through a capital partnership with Orion Infrastructure Capital (OIC). BIG already has another C&I solar installation platform in its kitty, Sunshine Solar, LLC. With both these entities, BIG said it will be able to cater to the growing demand for C&I and community solar systems.
Leeward raises $420 million for solar projects: Leeward Renewable Energy (LRE) has raised $420 million in construction to term financing from MUFG Bank along with $195 million in tax equity from Wells Fargo to support 296 MW solar projects. The Big Plain Solar Facility in London, Ohio, and Oak Trail Solar Facility near Moyock, North Carolina are both under construction currently. On coming online in mid-2023, these will supply power to Verizon Communications under a long-term PPA.
75 MW solar-to-hydrogen facility announced: Fusion Fuel and Electus Energy have signed a joint venture (JV) agreement to develop 75 MW large-scale solar-to-green hydrogen project in California’s Bakersfield. Fusion Fuel will provide its HEVO technology to produce up to 9,300 tons of green hydrogen annually, including during night-time. To be built for around $180 million, an investment decision is expected in early 2024, for commissioning in H1/2025. Green hydrogen produced will be supplied for over 1,000 class 8 trucks or buses a day. Black & Veatch has been engaged to conduct a concept study to locate the project in Kern County where the duo has entered into a land-lease agreement for 320 acres.
“North America has always been a focal point of Fusion Fuel’s growth strategy as we build on our successes in Iberia and begin to look beyond Southern Europe,” said Fusion Fuel’s Chief Commercial Officer, Jason Baran. “However, the passage of the game changing Inflation Reduction Act earlier this year caused a dramatic acceleration of those plans. The production and investment tax credits promise to significantly improve the already attractive economics of our solar-to-hydrogen solution in many markets across the US.”
Greenalia acquires 502 MW solar in Texas: Spanish renewables company Greenalia has acquired 3 utility scale solar farms with 502 MW combined capacity in Ercot, Texas. For the company, this acquisition strengthens its presence in the growing US market. The 3 projects are 265 MW Donegal Solar in Dickens County, 119 MW Leitrim Solar in Hill County and 118 MW Roscommon Solar in Lamar County. All of these are at an advanced stage of development and scheduled to come online in early 2025. This now takes the company’s solar pipeline in the US to almost 1.7 GW.
Solar real estate changes hands: Renewables real estate and royalty interests acquirer Activate Renewables has acquired a portfolio of real estate related to 5 solar power projects located across North Carolina and Texas from Alchemy Renewable Energy. Under its business model, Activate works with developers to purchase land, leases or purchase options associated with high quality renewable projects. It is funded by D.E. Shaw Renewable Investments (DESRI). It has to date acquired or signed agreements to fund acquisitions totaling over 8,800 solar acres and 62 wind turbines, which it says directly supports more than 2.8 GW of existing or planned renewable power generation across 20 states.