Welcome to the November edition of the Renewables Round-Up, brought to you by Coalesce Management Consulting's Principal Consultant and US Renewable Energy expert, Eddy Maunder.
In this month's edition we cover a huge range of stories including:
- Vineyard Wind's commencement of cable installation on the first commercial-scale offshore windfarm
- TotalEnergies takes the lead in the renewable energy race
- ENGIE acquires 6 GW of solar, paired and stand-alone battery storage development projects
- Brookfield plans to commission more than 10 GW of utility and distributed solar, storage and wind projects
- Longroad Energy finances and commences the $200 million Three Corners Solar project
- And much more...
Watch the video or read on for the full roundup.
Vineyard Wind's Commercial Cable Installation Commencement
Our top story this month is in the offshore wind industry, Vineyard Wind announced that cable installation for the first commercial-scale offshore windfarm has begun approximately 15 miles south of Martha’s Vineyard. The company also announced that it expects to begin nearshore cable work off the south coast of Cape Cod in the near future.
The work is being conducted by Prysmian Group, the global leader in subsea cable manufacturing and installation. Prysmian recently announced plans to build the first U.S.-based offshore wind subsea cable factory in Somerset, Massachusetts, adding to its strong North American footprint that includes 28 manufacturing facilities.
Vineyard Wind CEO Klaus Moeller said:
“For a project that has achieved many firsts, the beginning of offshore cable installation is perhaps the most significant we have achieved so far, to get to this point has required an amazing effort by the Vineyard Wind team and we are proud to work with Prysmian, a company with world class experience dedicated to creating jobs in Massachusetts”
TotalEnergies Takes The Lead In The Renewables Race
French energy giant TotalEnergies has pulled ahead of rivals Shell and BP in the race to build up a renewables business.
But despite the growing focus on the climate, investors remain cautious for now, with shares of the three European giants trailing their oil and gas-focused U.S. rivals Exxon Mobil and Chevron so far this year.
TotalEnergies had a portfolio of 7.4 gigawatts (GW) of net installed renewables capacity by the end of September, according to company data, following investments such as a $2 billion partnership with India's Adani Group last year and the acquisition of a 50% stake in Clearway, one of the largest U.S. renewables firms.
BP, by comparison, has so far built 2GW of operating renewables capacity, partly through its 50% stake in Lightsource BP, one of the world's top solar producers.
Shell's net capacity is slightly higher at 2.2GW, with acquisitions including U.S. producer Savion and Indian renewables platform Sprng Energy earlier this year.
ENGIE Acquires 6GW in Solar and Battery Projects
ENGIE North America has announced it has acquired a 6 GW portfolio of solar, paired and stand-alone battery storage development projects from Belltown Power U.S. The transaction includes 33 projects comprising of 2.7 GW of Solar with 0.7 GW of paired storage and 2.6 GW of stand-alone battery storage.
ENGIE already has a strong position in North America, with 3.9 GW of installed renewable capacity at 100% as of June 30, 2022. The projects are a strong addition to ENGIE's existing renewables and storage pipeline in the U.S.
BEP to Commission 10GW of Utility, Solar, Storage Wind Projects
Brookfield Renewable Partners (BEP), a Canadian-listed renewable energy developer, plans to commission more than 10 GW of utility and distributed solar, storage and wind projects over the next three years, building its portfolio from three newly acquired businesses, Scout Clean Energy, Standard Solar and Urban Grid.
Fresh off of a trio of mergers and acquisition deals including most recently Standard Solar for $540 million and Scout Clean Energy for $1 billion, the Canadian project development company aims to accelerate project development efforts later in the next decade, said Connor Teskey, Brookfield Renewable’s CEO, on the company’s Q3 earnings call.
Enel to built first PV Panel Manufacturing Facility in the US
Enel has announced their intention to build their first solar PV panel manufacturing facility in the United States! The proposed facility is expected to: Accelerate the growth of US generated energy by producing at least 3 GW and potentially scaling up to 6 GW of American-made solar panels annually and It will also create up to 1,500 new local jobs.
Longroad Successfully Finances And Commences Work On $200 Million Three Corners Solar Project
Longroad Energy has announced the successful financing and commencement of construction of the Three Corners Solar project in Kennebec County, Maine. The ~$200 million project has been in development for five years, and upon completion in late 2023 or early 2024, will be the largest solar project in Maine. Total output from the project will be purchased by EDF Energy Services via a long-term Power Purchase Agreement (PPA). EDF Energy Services will use renewable energy generated by the project as supply for its corporate customer load in New England. This PPA sets the record as the largest corporate PPA in the New England power grid signed to date.
The latest announcement in a rising wave of made-in-USA clean energy manufacturing comes from Mission Solar, which said it will add 1 GW of solar panel manufacturing capacity by 2024. The first wave of buildout will be a 300 MW annual production line that begins expansion in Q4 2022.
Mission Solar has been providing U.S.-made solar modules from its Texas facility for ten years, and it now sets its sights on expansion as the energy transition ramps up in the U.S.
NYPSC Approves Long Island Wind Farm Transmission Line
The New York State Public Service Commission has approved a transmission line that will deliver electricity from the Sunrise Wind farm off the coast of Long Island, to the existing electrical grid in New York State. The Sunrise Wind farm is being developed in a joint venture by Orsted and Eversource, the 25-mile offshore/onshore transmission line will carry electricity from the wind farm to an existing substation in Brookhaven, Suffolk County.
True Expertise Delivered
If you have a renewable energy project coming up, CMC provide engineering, construction and project management services to help you deliver your project ahead of schedule and under budget. Find out more about our services or get in touch with our experts today.