- Greencoat Capital to invest $5 billion on renewable energy in the US over next 5 years
- Construction begins on phase I of 1.3 GW AC solar power plant of Doral Renewables in Indiana, US
- A-SMACC’s response to US Department of Commerce conceals identities of individual members
- Antin Infrastructure Partners is acquiring majority stake in US based renewables developer Origis Energy
- CanREA and partners launch EAC to promote further electrification in Canada prioritizing the use of ‘abundant, established and emerging, non-emitting electricity resources’
Greencoat Capital enters US market: European renewable energy investment manager Greencoat Capital has entered the US market with plans to invest $5 billion over the next 5 years in wind, solar and energy storage assets. It sees a significant opportunity for growth in the country providing both North America and European institutional investors with access to one of the largest growing renewable markets in the world. Greencoat touts having invested in over 200 wind, solar and bioenergy assets in Europe with a combined capacity of over 3 GW. Under David Boyce’s leadership, Greencoat expects its US business to provide investors with predictable, stable income in the long term.
Gigantic 1.3 GW US project enters construction: Israel based Doral Energy has launched the construction of a 1.65 GW DC/1.3 GW AC solar power plant in Indiana, the largest announced solar project in the US, to date. Construction on phase I of Mammoth Solar Project will bring online 480 MW DC capacity, according to local media reports. Risen Energy is supplying its bifacial solar panels for phase I, while Nextracker is the tracker supplier and Swinerton Renewable Energy is the EPC service provider of the project that’s being executed by Doral Renewables. Power generated is contracted to be sold to the American Electric Power (AEP) for both 480 MW DC phase I, and for 360 MW DC for phase II. The entire project is expected to enter commercial operations in 2024.
A-SMACC responds to US commerce department: Law firm Wiley representing American Solar Manufacturers Against Chinese Circumvention (A-SMACC) has submitted details sought by and responded to the US Department of Commerce before the latter can decide whether to impose anti-circumvention duties on Chinese companies (see America Delaying Solar Tariff Decision). While it has revealed the identities of the A-SMACC members to the department, it has refrained from identifying them in information shared with the general public. Wiley said the case is vital to rebuild the US solar supply chain. “China now controls as much as 80% of global polysilicon production and nearly 100% of global ingot and wafer production. With its ability to control both state-owned and nominally private firms, China could cut off supply of these critical inputs to any company that opposes it and put them out of business for good,” pointed out A-SMACC.
Majority stake for Antin Infrastructure in Origis Energy: Private equity company Antin Infrastructure Partners is taking a majority stake in US based renewable energy player Origis Energy through funds it manages. It will continue to be led by CEO and President Guy Vanderhaegen who will hold a significant stake in Origis Energy post the acquisition is complete. With Antin’s investment, Origis Energy will get access to additional capital to build out its additional pipeline in the US and gets clear visibility to its growth plan over the next several years.
Creation of EAC in Canada: The Canadian Renewable Energy Association (CanREA) is one among 6 Canadian associations that have established the Electricity Alliance Canada (EAC) which will enable, promote and advocate for increased use of electricity throughout the country ‘to help achieve Canada’s net-zero emissions target’. Canada aims to become a net zero carbon emitting nation by 2050. Currently, CanREA says more than 80% of the country’s power supply comes from hydroelectric, nuclear, wind, solar and marine renewable generation, and is on its way to phasing out the remaining coal-fired plants by 2030. But this isn’t enough as CanREA believes Canada needs to rapidly deploy existing technologies prioritizing the use of ‘abundant, established and emerging, non-emitting electricity resources’. Other founding members of the EAC are Canadian Electricity Association, Canadian Nuclear Association, Electricity Human Resources Canada, Marine Renewables Canada, and WaterPower Canada.