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Energy Company Bid for Origin Energy: A Game-Changer in Renewable Energy Investments #BrookfieldAssetManagementOriginEnergyacquisitionEnergycompanybidRenewableenergyinvestmentsConsolidationtrendinenergyindustry

Three Eight Six Holdings and B.Grimm Power ink deal for clean energy projects - https://lnkd.in/dDMBMBrG The deal is said to highlight the attractiveness of the renewable energy sector in the Middle East

Avangrid and CPS Energy Strengthen Partnership with Expanded PPA for Texas Wind Farm Energy Reading Time: 1 minutesAvangrid, Inc., a sustainable energy leader and part of the Iberdrola Group, has entered into a Power Purchase Agreement (PPA) with CPS Energy—the nation’s largest community-owned provider of electric and natural gas services. Under this agreement, CPS Energy secures a 161-Megawatt (MW) portion of Avangrid’s Peñascal I wind farm in Kenedy County, Texas, near Baffin Bay. This PPA builds upon a previous 15-year agreement between the two companies for energy from Peñascal I. CPS Energy’s power offtake has more than doubled, increasing from 77 MW to 161 MW. As a result, CPS Energy will now receive nearly […] - https://lnkd.in/dQnEGAQq #windenergy #windturbines #offshorewind #windturbine #cleanenergy #climatechange #sustainability #energynews #smartenergy #windfarm #windindustry #renewableenergy #renewables #america #avangridrenwables #iberdrola #northamerica #renewableenergy #texas #unitedstates #windenergy #windfarm

Apatura secures planning consent for the largest standalone Battery Energy Storage System awarded in Scotland New site at Port Glasgow will deliver grid scale battery energy storage driving its renewable energy ambitions in Scotland Renewable energy storage specialist Apatura has secured planning permission for a major new Battery Energy Storage System (BESS) in Port Glasgow, Inverclyde with a capacity of 700 megawatts (MW). This is the largest planning consent for a stand-alone BESS in Scotland to date and the biggest ever secured by Apatura Energy, marking a significant milestone in the company’s relentless mission to deliver sustainable energy solutions that fast-track the path to net zero. It is also the fourth consent in less than 12 months, and Apatura Energy expects more to follow soon. Andrew Philpott, Chief Development Officer, Apatura stated: “We are delighted that Ministers have supported this critically important scheme and the local Council – Inverclyde – lodged no objections.  Our focus on Scotland is central to our vision to harness its renewable energy potential. This latest planning consent is not only the largest consent for a stand-alone Battery Scheme in Scotland, but it also positions us at the forefront of delivering resilient energy infrastructure. This is also a central goal of the NGESO Beyond 2023 report which highlighted the vital role of BESS in Scotland.” The https://lnkd.in/ejahcE_Y

#Verizon Verizon Communications announced today that it has fully allocated the $1 billion in proceeds from its most recent green bond, issued in May 2023, will the full amount directed towards investments in renewable energy, supporting the company’s clean energy targets. According to Verizon’s Green Bond Impact Report, proceeds from the bond, Verizon’s fifth green bond since 2019, were allocated entirely to renewable energy purchase agreements (REPAs), supporting renewable energy projects under development in five states, including Illinois, Maine, North Dakota, Ohio and West Virginia, and covering nearly 0.9 GW of capacity, of which 53% is solar and 47% is wind energy. Verizon added that it is on track to exceed its target to source the equivalent of 50% of its total annual electricity consumption with renewable energy by 2025, and that it will continue to identify new renewable energy projects under development to support its goal to reach 100% renewable energy by 2030. https://lnkd.in/dYxeXeVA

In 2024, Europe's renewable PPA market is set for significant growth, boosted by major energy sector M&As. These developments highlight renewed investor interest in renewable energy after a slow start to the year. https://ow.ly/mW6E50StJOI

Recurrent Energy, part of Canadian Solar Inc., has reached financial close on the 1,200 MWh Papago Storage project in Maricopa County, Arizona. Recurrent Energy secured $513 million in project financing for the landmark BESS project, with MUFG and NORD/LB in place as coordinating lead arrangers. The financing comprised a $249 million construction and term loan, a $163 million tax equity bridge loan, and a $101 million letter of credit facility. The joint lead arrangers for the transaction included Bank of America, CoBank, DNB, Rabobank, Siemens, and Zions Bank. “When we began developing Papago Storage in 2016, the Arizona storage market was in its infancy,” said Ismael Guerrero Arias, CEO of Recurrent Energy. “Today, Arizona is one of the fastest-growing markets for energy storage in the United States, bolstered by the state’s expanding economy and cost-effective renewable energy resources. Today, we are thrilled to see nearly a decade of planning culminate in the financing of what will be the largest energy storage project in Arizona. We appreciate the continued support from our partners Nord/LB and MUFG in our shared mission to advance the clean energy transition.” Construction work on Papago Storage is set to begin in Q3 2024, with commercial operations slated to take place in Q2 2025. The Papago Storage project holds a 20-year tolling agreement with Arizona Public Service Company. “MUFG is pleased to have supported Recurrent Energy on this important project, which will contribute to the transition to a low-carbon economy,” commented Fred Zelaya, Managing Director of MUFG. “This transaction showcases MUFG’s expertise and leadership in financing renewable energy and energy storage projects across the U.S. and globally. We look forward to collaborating with Recurrent Energy on future developments.” Sondra Martinez, Managing Director of Nord/LB, added: “Nord/LB is pleased to have acted as a coordinating lead arranger (CLA) for the successful closing of Recurrent Energy’s latest landmark project. Papago Storage marks Nord/LB’s 11th standalone storage project in the U.S., and we are excited to take lead in financing strategic battery storage assets, supporting the energy transition and mission to achieve a more reliable, carbon-free grid. We look forward to continuing to support Recurrent Energy’s ambitious growth in the industry.” Once online, the Papago Storage project will dispatch enough power for approximately 244,000 homes for four hours daily. #cleanenergy

Apex Clean Energy has formed an energy storage-focused joint venture in the US with South Korean companies SK gas and SK D&D. The new joint venture, SA Grid Solutions, starts life with ownership of the Great Kiskadee utility-scale battery project, which is currently under construction in Texas. “Great Kiskadee represents the first project in this shared vision, with the potential for hundreds more megawatts of energy storage to come,” said Ken Young, Apex Clean Energy CEO. “Our collaboration with SK Gas and SK D&D, a first-time partner with shared values, will enable Apex to swiftly accelerate the deployment of our development-stage storage portfolio, comprising more than 13 GW across the United States.” The joint venture is funded 60% by SK and 40% by Apex, which will manage the construction and operations of the projects going forward. The joint venture is expected to purchase and advance additional Apex storage projects in the future. “I am pleased to collaborate with Apex, a strong local partner in the United States, as well as SK D&D,” stated Byung Suk Yoon, CEO of SK Gas. “The energy storage system (ESS) business is indispensable to expanding renewable power generation and offers long-term sustainability and significant social value." “Based on SK D&D’s capabilities, we are looking forward to entering the rapidly growing U.S. market with SK Gas and Apex,” added Do Hyun Kim, CEO of SK D&D. The Great Kiskadee Storage project is located in Hidalgo, Texas, and will deliver 100 MW/200 MWh of capacity to the ERCOT grid with a two-hour battery duration. According to Apex, the next project slated for purchased by the JV is of similar size and duration. #cleanenergy

https://lnkd.in/eTpq_PaH Through 2024, companies in the energy sector will need to adapt their operations proactively to thrive in today’s evolving landscape. This applies across the energy ecosystem, whether oil and gas, power and utilities, or renewable/clean energy companies. Here are the top six trends RSM has identified for the energy sector...

EDP Renewables North America (EDPR NA) has signed a long-term capacity tolling agreement with Dominion Energy to develop an 85MW/340MWh battery energy storage system (BESS) in Virginia, set to begin commercial operations in 2027. This project strengthens EDPR NA's commitment to innovation and new technologies. Previously, EDPR NA inaugurated the 200MW/40MW Scarlet I solar-plus-storage project in California, contracted under power purchase agreements with local electricity suppliers. The company also operates several renewable energy assets in California and is expanding projects like the Sandrini Solar Park, reflecting its active role in the energy storage market. These efforts illustrate EDPR NA's broader strategy to enhance its renewable energy footprint in the United States.