Ingevity signs 85 MW solar PPA with NextEra Energy; CubicPV hires Arcadis for 10 GW US wafer fab; Origis Energy closes $750 million warehouse construction facility; Pearce Services acquires Natron Resources; IRGAH completes acquisition of 1.36 GW AEP portfolio.
Ingevity signs up for 85 MW solar: Chemicals producer Ingevity Corporation has signed a contract to receive 85 MW of solar power capacity from a subsidiary of NextEra Energy Resources. The project is to be constructed in North Texas and commissioned by the end of 2025. Ingevity says it will receive and retire renewable energy credits to offset a significant portion of its Scope 2 emissions from US manufacturing locations as it targets to become carbon-neutral for absolute GHG emissions from manufacturing operations by 2050.
Arcadis to consult for CubicPV: US solar technology company CubicPV has hired global design and consultancy firm Arcadis for its 10 GW silicon wafer manufacturing facility in the US. Arcadis says it is providing full architectural and engineering designs services to the company to help it onshore US solar component manufacturing. The firm will also engage with construction contractors, agencies having jurisdiction and the local community for the CubicPV project (see US Solar Wafer Fab Plans Move Forward).
Origis Energy raises $750 million: Renewable energy company Origis Energy has achieved closure for a $750 million construction warehouse facility to support its large– scale solar and energy storage capacity of around 2 GW in the US. It will fund the construction of the group’s solar, storage and co-located solar-plus-storage projects that are scheduled to be completed by 2026. All the projects have secured power purchase agreements (PPA) with utility and corporate clients. The management said this follows the March 2023 close of an upsizing amendment to the company’s $750 million development finance facility (see US Solar Energy Company Lands $750 Million Loan).
Pearce takes over Natron: US based mission-critical infrastructure company Pearce Services, through Pearce Renewables, has acquired design and engineering services company for solar and storage systems, Natron Resources Inc. Pearce says this acquisition expands its engineering capabilities for renewable energy generation systems.
1.36 GW RE portfolio changes hands: IRG Acquisition Holdings (IRGAH), a consortium of Invenergy, CDPQ and funds managed by Blackstone Infrastructure Partners, has completed the acquisition of American Electric Power’s (AEP) 1.365 GW unregulated, contracted renewables portfolio (see North America PV News Snippets). The deal with $1.5 billion enterprise value brings to the consortium 14 projects in 11 US states. It comprises 1.2 GW wind and 165 MW solar projects, all contracted under long-term agreements with utilities, corporations and municipalities. “IRGAH secured a $580 million commitment for a first-of-its-kind PTC tax credit transfer with Bank of America Securities, who served as Transferability Underwriter and Placement Agent and Financial Advisor,” stated Invenergy.
