Spain’s Turbo Energy planning NASDAQ listing; NIPSCO commissions 465 MW solar in Indiana; DESRI starts constructing 200 MW solar + 100 MW storage project; TransAlta to completely acquire TransAlta Renewables.
Turbo Energy’s US expedition: Spain based artificial intelligence (AI)-enabled PV energy storage company Turbo Energy is eying institutional investors in the US to get listed on NASDAQ. The company says it awaits approval from the Securities and Exchange Commission (SEC) for its prospectus. According to IPO research firm Renaissance Capital, the Valencia based company is offering 1 million shares with per share priced between $5.0 to $6.0 to raise $6 million. The company’s flagship product is the Sunbox that it touts as an all-in-one energy solution for a solar PV installation in residential, commercial and industrial segments.
“We intend to drive the strategic growth of the company, to capture value in the growing market for artificial intelligence applied to renewable energy,” said Turbo Energy CEO Enrique Selva. In May 2023, Turbo’s parent company Umbrella Solar Investment made its debut on the Spanish stock market.
465 MW solar online in Indiana: The Northern Indiana Public Service Company LLC (NIPSCO) has announced commissioning of 2 solar projects with 465 MW combined capacity in Indiana. The NiSource subsidiary said the 200 MW Indiana Crossroads facility was developed and constructed by EDP Renewables North America with a 35-year life. The 265 MW Dunns Bridge I Solar Project in Jasper County is phase I of a 2-part project. Dunns Bridge II will have 435 MW installed PV capacity with 75 MW battery storage on completion. NIPSCO still has 2 more solar and storage projects in the pipeline of projects selected through an all-source request for proposal (RFP) process, to be commissioned till 2025.
DESRI’s solar and storage project moves forward: DE Shaw Renewable Investments (DESRI) has broken ground on its 200 MW AC San Juan 1 Solar Plant with 100 MW AC battery storage facility in San Juan County in New Mexico. It is contracted to supply clean energy to the Public Service Company of New Mexico (PNM) for 20 years once it is online in mid-2024. This is a ‘critical capacity replacement’ for the former San Juan Generating Station that retired in 2022. DESRI said this is the 1st phase of a larger project that when complete will have a total capacity of 400 GW AC.
TransAlta makes strategic move: Canadian electric utility TransAlta Corporation is buying all the outstanding shares of its subsidiary TransAlta Renewables that it doesn’t own. The CAD 1.38 billion ($1.04 billion) deal is aimed by the management to create a unified, large-scale clean electricity leader, while also providing a simplified strategy and simplified governance structure that facilitates growth. The subsidiary’s portfolio comprises 2.965 GW of owned generating capacity including solar assets in Canada, the US and Australia.