Virtual Power Plants in California: A member of the California Assembly in the US, John Harabedian, has introduced a new bill AB 740 to promote virtual power plants (VPP). Sponsored by Advanced Energy United and Environment California, the bill bats for VPPs as a system of distributed energy resources like rooftop solar panels, electric vehicle (EV) chargers, and smart water heaters. These can build a decentralized power system while reducing emissions and increasing energy security and independence. According to Harabedian, these can make the energy system more resilient while helping lower energy costs. The bill seeks the California Energy Commission (CEC) to conduct a modeling of the VPPs on electricity costs and rate reduction in the biennial Integrated Energy Policy Reports (IEPR). The CEC must submit a VPP implementation plan with specific goals and milestones while requiring investor-owned utilities to report annually on their progress toward meeting the state’s load shift goal.
“A growing number of Californian households have adopted appliances – from heat pumps to EV chargers to home batteries – that could share excess energy, make their communities more resilient from power outages and allow clean energy to power more of our lives,” said Environment California’s State Director Laura Deehan while expressing support for the VPP bill. The bill will be heard in the assembly policy committee during the spring.
First Solar secures $819 million: US solar PV manufacturer First Solar calculates around $819 million as the final sale amount of Section 45X Advanced Manufacturing Production Tax Credits for the production and sale of modules in the US in 2024.
The company produced these modules at its Ohio and Alabama factories in 2024. It had previously sold $857 million worth of tax credits through 2 Tax Credit Transfer Agreements in December last year. It was promised a price of $0.955 per $1.00 of tax credits. The agreements covered a fixed transaction of $645 million of tax credits, paid for in 2 parts on December 6 and December 30, 2024, and a variable transaction of $212 million in additional tax credits, the sale of which is expected to be completed by February 28, 2025. This will lead to gross cash proceeds of around $819 million. “As it relates to the 2024 financial year, we expect a pre-tax impact to earnings of approximately $39 million and a post-tax impact to earnings of approximately $45 million,” said First Solar’s CFO Alex Bradley.
Heliene and Origami Solar partnership: North American solar module manufacturer Heliene has announced a multi-year agreement with Origami Solar for US-made, steel-framed solar modules to the North America market. From April 2025, Heliene’s 144 and 156 half-cut bifacial modules will be available with Origami’s durable steel frames. Heliene, however, will continue to offer modules with the existing aluminum frame options, adding that Origami’s steel frames offer a compelling cost advantage over domestic aluminum and eliminate the tariff and supply chain risk of imported aluminum frames. Origami recently launched its Arkansas steel solar panel frame factory following the US government’s mandate of a 25% tariff on imported steel and aluminum (see Origami Solar Launches Solar Module Steel Frame Factory In US).
DP Energy offloads 325 MW project: Irish renewable energy company DP Energy has sold a 325 MW solar project to the City of Medicine Hat in Alberta, Canada. The sale of this ‘largest’ urban solar project in North America was approved by the Alberta Utilities Commission (AUC). The Saamis Solar Park is currently at the ready-to-build (RTB) stage. The City of Medicine Hat will now seek an amendment to allow it to construct the Saamis Solar Project in phases with the first phase adding 75 MW of additional generation to the City’s existing fleet of generating units.
FREYR rebrands: US-based battery manufacturer FREYR Battery has rebranded itself as T1 Energy as it executes the strategy to become a vertically integrated solar and battery leader in the country. It ventured into the solar business with the acquisition of Trinasolar’s 5 GW Wilmer, Texas solar module manufacturing plant in Q4 2024 where the Chinese manufacturer had plans to produce its 210 mm Vertex solar modules. The US company had unveiled plans to establish a 5 GW solar cell factory too back then. Trinasolar had a minority stake in the company (see Amid ‘Geopolitical Risks’ Trinasolar Sells Off 5 GW US Solar Module Plant). T1 Energy says it has renamed the Texas solar module factory as G1 Dallas where the ramp-up of solar module production is on track. It is also in the process of site selection for the planned solar factory that will be named G2. Construction is planned to begin in mid-2025.
39 MW RE changes hands: Canadian renewable energy developer and independent power producer (IPP) Sitka Power has acquired around 39 MW of wind, solar and battery storage assets in Ontario and Saskatchewan. These facilities are contracted under long-term agreements with creditworthy counterparties, it said. Saturn Power sold these projects to Sitka for whom this is its maiden transaction since its formation in November 2024. It plans to further expand its portfolio with the acquisition of wind, solar, run-of-river hydro, and battery energy storage system (BESS) assets.
VPPAs for Verizon: Renewable energy developer Invenergy has signed virtual power purchase agreements (VPPA) with telecommunications firm Verizon for 640 MW of power in the US. The assets under the contract cover the 50 MW Richfield Solar Project in Maryland and the 250 MW Maple Flats Project in Illinois, both of which have been operational since 2024. The 240 MW Cadence Solar Project in Ohio is scheduled to become operational in 2026 and the 100 MW Chalk Bluff Project in Arkansas will be online in 2027. Electricity generated will be delivered to local grids through 2 energy markets across 4 states, thus contributing to regional grid reliability. Verizon will receive clean energy credits for contributing to bringing this new capacity online. With these contracts, Verizon’s total procured energy from Invenergy exceeds 1 GW capacity.
Ashtrom and CPS Energy’s PPA: US utility CPS Energy has entered a power purchase agreement (PPA) with independent power producer (IPP) Ashtrom Renewable Energy in the US. Part of the Israeli construction and real estate group Ashtrom Group, Ashtrom Renewable Energy will supply electricity to the Municipality of San Antonio in Texas through CPS Energy. The latter will purchase close to 70% of the electricity produced by the 150 MW AC El Patrimonio Solar Project, along with renewable energy certificates (REC) for 20 years at a fixed price. The remaining electricity generated will be sold within Texas’ open electricity market once the project is online in H2 2027.
Talon cells for SEG Solar: US solar module manufacturer SEG Solar has signed a strategic solar cell procurement deal with another US-based company Talon PV. The latter will supply its high-performance n-type solar cells for SEG to fully realize Made in America status for its modules, and also mitigate any risk of delays associated with importing foreign silicon-based components. SEG commissioned its 2 GW Houston, Texas factory in August 2024 (see 2 GW Solar PV Module Manufacturing Factory Commissioned In US). Talon PV’s n-type cell manufacturing plant is due for commissioning in Q1 2026 with an annual initial production capacity of 4 GW.
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