CleanTech Report December 29th 2020 |
M&ABlackstone Sells $150M Solar Power Portfolio Blackstone Group is selling a $150 million portfolio of solar power facilities to UK energy investment firm, SDCL Energy Efficiency Income Trust plc, or SEEIT. The deal includes a 50 per stake in Onyx Renewable Partners, the development platform formed by Blackstone in 2016 to identify and to develop North American renewable energy power projects. SEEIT will take a 100 percent interest in four commercial and industrial ) portfolios with a combined capacity surpassing 175 MW. The agreed transaction will provide SEEIT with access to Onyx’s follow-on pipeline, which is seen growing to more than 500 MW over the next five years. SEEIT Strikes £110M Deal To Acquire Solar And Storage Projects In US As part of the transaction the UK-listed company will also take on a 50% interest in New York-headquartered Onyx Renewables Partners from Blackstone, which will retain the other half of the firm. The deal is expected to go through in the coming weeks and will be funded from SEEIT’s existing cash reserves and debt facilities. The London-headquartered firm will acquire a 100% interest in four portfolios totalling over 175 megawatts (MW), which provide renewable energy generated on-site directly to the end-user. Octopus Energy Reaches £1.5 Billion Valuation British challenger energy supplier Octopus has been valued at more than two billion dollars (£1.5 billion) in a new deal which launches its brand in Japan. Tokyo Gas will invest 200 million dollars (£150 million) to buy a 9.7% stake in Octopus, while launching a joint venture with the company. The Octopus brand will launch in Japan, and plans to provide 100% renewable electricity in the country. Octopus will own 30% of the venture, with Tokyo Gas owning the majority. |
NORTH AMERICACanadian Solar Expects $997.33 Million in Sales This Quarter Brokerages forecast that Canadian Solar Inc. (NASDAQ:CSIQ) will announce sales of $997.33 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Canadian Solar’s earnings. The highest sales estimate is $1.01 billion and the lowest is $988.00 million. Canadian Solar posted sales of $919.71 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.4%. The company is scheduled to announce its next quarterly earnings results on Thursday, March 25th. Clearway Enterprise Announces Agreements for 1.6 GW Portfolio of Renewable Energy Assets Clearway Energy, Inc. and its renewable development partner and parent company, Clearway Energy Group LLC, today announced agreements providing for CWEN’s co-investment in a 1,204 MW portfolio of renewable energy projects developed by CEG consisting of i) 1,012 MW from five geographically diversified wind, solar, and solar plus storage assets under development and ii) the 192 MW Rosamond Central solar project which is expected to commence operations by the end of the year. Additionally, the parties amended the existing partnership agreement for the 419 MW Mesquite Star wind project providing CWEN an additional 27.51% of the project’s cash flows after the first half of 2031. TransAlta Shifts $439 Million In Power Assets To TransAlta Renewables Subsidiary TransAlta Corp. says it is selling power transmission assets in Canada and the United States for $439 million to its majority owned subsidiary TransAlta Renewables Inc. The Calgary-based utility says it will hand over its 207-megawatt Windrise wind project in southern Alberta, along with a 49 per cent interest in the 137-megawatt Skookumchuck wind facility in Washington State and a 100 per cent interest in the 29-megawatt Ada cogeneration facility in Michigan. |
LATIN AMERICABrazil Pledges A Target Of 45% Renewable Energy By 2050 Brazil has now moved past the 7 gigawatts (GW) mark of total installed renewables – and has set the ambition of 45% of its energy needs being generated in similar form by 2050. Compared to other high-population nations elsewhere in the world, Brazil is lagging in renewables installations, but the nation has just moved past the 3 GW mark on installed of large-scale solar, and is also reported to have a further 4 GW of remote-generation solar in place. Vestas Lands 360MW Brazilian Contract Vestas has signed a new turbine agreement with Casa dos Ventos for the 360MW Babilonia project in Brazil. The order includes 80 V150-4.2MW machines delivered in 4.5MW Power Optimized Mode as well as a 20-year Active Output Management 5000 service contract. Delivery is planned for the second half of 2022, with commissioning scheduled for the second quarter of 2023. Argentina’s Renewables Boost Output By 47.7% In Nov Argentina generated 1,267 GWh of power from renewables in November, up by 47.7% on the year, according to the latest monthly report by wholesale electricity market administrator CAMMESA. The country’s renewable energy plants produced 6 GWh less compared to their combined output in October. The share of renewables in the total production declined to 11% from 12% the month before. |
EUROPEJA Solar Supplies Photovoltaic Modules For The Largest Solar Plant In Hungary JA Solar recently announced that it supplied 54MW modules for the Kaposvar photovoltaic (PV) power plant in Hungary. With a total scale of 100MW, the plant is the largest PV power plant in Hungary and indeed Central Europe. It is invested in and constructed by China National Machinery Import & Export Corporation, a subsidiary of China General Technology, and is expected to be connected to the grid in February 2021. Signify, Okaya Lead Race For $28 Billion EESL Order Signify Innovations India Ltd (formerly Philips Lighting) and Okaya Power Group have emerged as frontrunners for an estimated $28 billion order to supply solar home systems, said two people aware of the development. Billed as the world’s largest such tender, Croatia’s Solvis d.o.o. and New Delhi-based Gautam Solar Pvt. Ltd have also submitted bids to state-run Energy Efficiency Services Ltd (EESL) for supplying as many as 47 million home power systems. Spain Tenders 3 GW of Renewables Under New Pay-As-Bid Model Spain has launched a tender for up to 3.18 gigawatts of renewable generation in its first auction under a pay-as-bid model introduced earlier this year. The model, similar to the contracts-for-difference program used in the U.K., aims to correct problems with auctions in 2016 and 2017. Those earlier auctions encouraged prices so low that developers essentially had to turn to merchant markets or bilateral power-purchase agreements to make a profit, said Madrid-based Brian Gaylord, principal analyst for Latin America and Southern Europe at Wood Mackenzie Power & Renewables. |
ASIAIndia’s Ayana Renewable Gets $390M Funding From CDC, NIIF, And EverSource Bangalore-based renewable energy platform Ayana Renewable Power has secured $390 million (about Rs 2,800 crore) in fresh funding from UK’s development finance institution CDC Group, National Investment and Infrastructure Fund (NIIF) and EverSource Capital, per an announcement. Japan Unveils Green Growth Plan For 2050 Carbon Neutral Goal Japan on Friday unveiled plans to boost renewable energy, phase out gasoline-powered cars and reduce battery costs as part of a bid to reach an ambitious 2050 carbon-neutral goal. Prime Minister Yoshihide Suga announced the new 2050 goal in November, significantly moving up Japan’s timeline for carbon-neutrality. On Friday, his government laid out for the first time what meeting that target will involve, including setting a provisional goal of generating more than half of the country’s electricity from renewable sources by 2050. Pakistan To Introduce 20% Renewable Energy By 2025 In a recent meeting with the Norwegian Ambassador, Pakistan’s Minister for Power Division, Omar Ayub said that the country’s new Renewable Energy Policy is expected to attract investment opportunities due to transparent policies of the government. Talking with the Norwegian ambassador – Mr. Kjell Gunnar Eriksen, the Pakistani minister added that the government has set ambitious targets to introduce 25% renewable energy by 2025. He further added that further 30% renewable energy would be introduced by the end of 2030 with a 40% share of hydel power generation into the energy mix of the country. |
MENAUAE Clean Energy Firm Signs $41M Deal For New Projects UAE-based Yellow Door Energy has announced new renewables projects worth AED150 million ($41 million) in the region, including Jordan, Pakistan, Saudi Arabia, Bahrain and its home market. The projects comes as the company’s operating projects generated 60 million kilowatt-hours of clean energy this year, equivalent to reducing carbon emissions by 36 million kilograms or planting 600,000 trees. World’s Largest Solar Plant – 2GW – Secures Project Financing The Abu Dhabi National Energy Company says it has reached a successful financial close on the 2GW Al Dhafra Solar PV project, set to be built approximately 35 kilometres from Abu Dhabi city. The 2GW Al Dhafra Solar Photovoltaic (PV) Independent Power Producer (IPP) project has hit headlines several times this year, thanks in large part to the project’s ability to achieve a world record-low tariff for solar power of $US0.0135/kWh, or roughly $A0.02/kWh. UAE’s Masdar Says Financing Secured For Uzbekistan Solar Power Project UAE-based Masdar, the clean energy subsidiary of Mubadala Investment Company, announced on Wednesday the financial close of the Nur Navoi Solar Project, Uzbekistan’s first independent power producer (IPP) solar project. Loan and guarantee agreements to finance the 100-megawatt photovoltaic plant were signed in a virtual ceremony with representatives from Masdar, Uzbekistan’s Ministry of Investments and Foreign Trade (MIFT), the International Finance Corporation (IFC), Asian Development Bank (ADB), the World Bank Group (WBG) and the European Bank for Reconstruction and Development (EBRD). |
AFRICAOolu Obtains $8.5M For The Distribution Of Solar Home Systems Solar home systems supplier Oolu has just raised 8.5 million dollars for the distribution of its electricity access equipment in West Africa. The funds were obtained from RP Global, All On, Persistent Energy Capital, Gaia Impact Fund and DPI Energy Venture. It’s a gamble won for Oolu. The solar home systems provider is raising $8.5 million in a Class B fund raising to bring its electricity access solution to West Africa. The funds were raised from several investors, including RP Global, All On, Persistent Energy Capital, Gaia Impact Fund and DPI Energy Venture. Morocco’s MASEN, IDB To Develop Renewable Energy Projects In Africa Rabat – Morocco’s Agency for Sustainable Energy (MASEN) and the Islamic Development Bank (IDB) announced on Tuesday the launch of a joint initiative to develop renewable energy projects in Africa. During a virtual meeting on December 23, representatives from the two bodies presented several projects, including Dosso, Maradi, and Diff solar power plans in Niger. The projects will cover a total capacity of 30 megawatts, as well as a product of three solar power plans with storage in Djibouti. AfDB Allocates $5 Million To Renewable Energy Projects In The G5 Sahel The “Desert to Power” initiative has just received a grant of 5 million dollars from the Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank (AfDB). The money will be used to finance feasibility studies for renewable energy projects developed in the G5 Sahel countries. The financing of the “Desert to Power” project was recently approved by the African Development Bank (AfDB). This materialised in the allocation of a grant of 5 million dollars which will be released by the Sustainable Energy Fund for Africa (SEFA), managed by the AfDB. |
AUSTRALIAMytilineos Lands Another Solar Project In Australia Athens-listed group Mytilineos stated on Wednesday that its Renewables and Storage Development (RSD) Business Unit has acquired another solar project in Queensland, consolidating its position in the Australian energy market. The Greek company acquired the 110-megawatt Moura Solar Farm from ESCO Pacific, one of Australia’s leading solar farm developers and operators.
Singapore Investor Injects $411M Into 500 MW Of Australian Solar Keppel Renewable Energy, the renewables arm of Keppel Corp., has agreed to buy a 45% stake in Harlin Solar, a special purpose entity that was established in August to develop a 500 MW solar farm at Harlin, about 100 kilometers northwest of Brisbane, Australia. Keppel will also provide Harlin Solar with a lending facility to fund development costs. Developer Anthony John Youssef and Melbourne-based New Energy Development hold the remaining 55% of Harlin Solar’s issued ordinary shares. However, Keppel will now lead the development and operation of the project.
FRV Reaches Fin Close On 115-MW Australian Solar Project Spain-based Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy, has reached financial close on the 115-MW Metz Solar Farm project it plans to realise in the Australian state of New South Wales. FRV secured a green loan from Australia’s Westpac Banking Corp and German commercial lender Norddeutsche Landesbank (NORD/LB). This is the second green loan that FRV secured in the country, it said in a statement today.
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