Welcome to the September edition of the Renewables Round Up, brought to you by Coalesce Management Consulting's Principal Consultant and US Renewable Energy expert, Eddy Maunder.
Watch the full roundup in the below video, or read on to learn everything you need to know from the last month in North America's onshore and offshore wind, solar and hydrogen news. Including:
- First Solar's $1.2 billion module manufacturing facility
- Teera-Gen's $1 billion solar plus storage project
- Nova Scotia's 5GW offshore wind lease
- Greenbacker's $182 million investment in new solar projects
- Brookfield's acquisition of Scot Clean Energy and Standard Solar
And much more...
First Solar invests $1.2 billion in module manufacturing facility
This months top story comes from First Solar, First Solar plans to invest more than $1.2 billion to build a new module manufacturing facility, and increase capacity at its existing operations. This is in response to credits for U.S. solar manufacturing that were included in the Inflation Reduction Act.
First Solar plans to invest up to $1 billion in a new, 3.5 GW module factory in the Southeast and an additional $185 million will be dedicated to adding nearly 1 GW of new manufacturing capacity to the company's facility in Ohio.
Pending regulatory approvals, First Solar said it expects the new factory to come online in 2025. First Solar expects the investment to create "at least" 850 new manufacturing jobs, bringing the company's U.S. employment total to more than 3,000 people in four states by 2025.
Teera-Gen closes $1 billion solar financing deal
Teera-Gen has closed just under $1billion in financing for the second phase of the world’s largest solar plus storage project. The Edwards Sanborn Solar-plus-Storage facility in California, which will bring it to 3,291MWh of energy storage capacity. The total financing for the project is $969mil, Mortenson are providing EPC services on both the solar and energy storage. First Solar is supplying the solar modules and LG Chem, Samsung and BYD are supplying the batteries.Nova Scotia's 5GW Lease Auction
It seems there isn’t a month goes by without a new offshore wind target being set or lease auction being announced in North America and this month is no different.The Canadian Province of Nova Scotia has set a target to auction off 5 GW of offshore wind energy by 2030. This is the first concrete move toward planned offshore wind development in the country The area has already seen significant activity in the marine energy sector through tidal and wave energy over the past several years.
Nova Scotia has decided to offer leases for 5 GW of offshore wind energy by 2030, starting in 2025, with an ultimate aim to support green hydrogen production.
Greenbacker To Bankroll $186.2 Million In Solar Projects
Greenbacker Renewable Energy has sealed a credit agreement for $186.2 million to bankroll the construction of 160 MW of solar projects in Montana and South Dakota.
The financing has been extended by KeyBank and Fifth Third Bank.
Greenbacker will allocate the fresh capital to build the Mount Sun Solar park in Montana’s Yellowstone County and the Fall River solar park in the Fall River County of South Dakota. Each plant will have a capacity of 80 MW and will be run through a long-term power purchase agreement.
Brookfield Renewables Increases Portfolio
Brookfield Renewables US have acquired Scot Clean Energy and Standard Solar welcoming them to their US portfolio. Brookfields combined operations and development pipeline now stands at 6.5GW. The deals were agree before the recent Inflation Reduced Act was passed in the US however the new act will supercharge Brookfields developments.
Matrix Renewables Acquires 4.6GW in Solar Projects
Spanish-American renewable energy company Matrix Renewables has stated that it has acquired a 4.6-GW portfolio of utility-scale solar power projects across the central US from Minneapolis-based SolarStone Partners.On top of the acquisition, Matrix Renewables also signed an agreement with SolarStone to jointly develop the portfolio and as partners, as well as exploring and originating additional opportunities across different markets in the US.
Canadian Solar Unveils SolBank
At the RE+ conference in September Canadian Solar unveiled their new battery product called the SolBank. The system is designed for safety, reliability and bankability. The battery enclosure contains liquid cooling mechanisms, humidity control, active balancing battery management systems and complies with the latest international safety standards.Goldbeck Solar Acquires GP JOULE
German renewables developer Goldbeck Solar unveiled the acquisition of the North American Solar EPC business GP JOULE, expanding its position in the Americas.The transaction, whose financial details remained undisclosed, encompasses two separate entities -- GP Joule PV Canada Corp and GP Joule PV USA Inc.
California Introduces Solar Canal Canopies
In an effort to combat the devastating drought conditions hitting California, the Golden State will become the first in the nation to install solar panel canopies over canals.
The $20 million pilot project funded by the state has been dubbed "Project Nexus." It will consist of an estimated 8,500 feet of solar panels installed over three sections of Turlock Irrigation District canals in Central California. The installation process is expected to begin by 2023, and be completed by 2024. The project aims to use water and energy management hand-in-hand. The project is designed to increase renewable power generation, while reducing water evaporation and vegetative growth in canals.
True Expertise Delivered
They were the top stories from the US renewables market in September. The Renewables Roundup will return next month with more updates from the North America Renewable Energy Industry. Follow us on LinkedIn or Youtube to be the first to catch the latest update.CMC provide engineering, construction and project management services for renewable energy projects around the world. Find out more about our services or get in touch with our experts today.