Every month the renewables roundup looks at the biggest news stories from across the USA renewable energy industry, led by Principal Consultant and US Energy expert, Eddy Maunder.
In January the market's top stories included:
- NextEra and Portland General Electric's first of its kind combination solar, wind and battery facility
- Ørsted's massive 471 Mockingbird solar centre
- New York's 4.7GW energy storage roadmap
- Silicon Ranch's $600 million renewable energy business plan
- Dominion Energy's South Carolina solar energy investment
And more.
Watch the video below or read on for the latest renewable energy news.
Our top story this month focuses on NextEra and Portland General Electric with a first of it’s kind renewable project in North America. NextEra have recently started producing power from a combined solar, wind and battery storage facility in Oregon. The project is co-owned by Nextra Energy Resource and Portland General Electric located in north Oregon it comprises of 120MW hours of battery storage, 50MW solar and 300MWs of wind power powering around 100,000 homes.
Ørsted, has announced it will break ground this month on the 471 MW Mockingbird solar center. The project is Ørsted’s largest solar facility and ranks seventh on PV Intel’s largest projects to begin construction within the last year.
The facility is expected to produce the equivalent of 80,000 Texas homes’ electricity demand, interconnecting with Texas utility Oncor. Project construction is slated for January 2023 and is expected to be completed in 2024
New York state has released a roadmap to deploy 4.7 GW of additional energy storage projects by 2030. The state is seeking 3 GW of “bulk storage,” 1.5 GW of retail storage, and 200 MW of residential storage. The state’s modeling predicts that it will cost $0.46 per month per electricity bill to incentivize developers to deploy this capacity. Currently, the state has already deployed 130 MW of energy storage, and has more than 1.3 GW of energy storage waiting in its queues. The combined volume will exceed 6 GW of energy storage.
Renewables and battery storage developer Silicon Ranch Corporation stated it is raising $600 million in equity to continue the execution of its business plan.
The Nashville-based independent power producer said in a statement that it closed initial funding of $375 million in December 2022 and expects to secure an additional $225 million in early 2023. Coupled with a $775-million transaction from a year ago, the company has topped $1 billion of new equity capital in the course of 12 months.
South Carolina utility Dominion Energy will add considerable renewable energy generation and grid-balancing energy storage capacity as it has signed a 108 MW solar, 198 MWh energy storage power purchase agreement.
The project is developed by Southern Current. The 572-acre facility is expected to reach commercial operations and begin delivering clean energy at the grid-scale in 2024. Named Lone Star solar, the project stands alone as the largest battery under development in Dominion Energy South Carolina service territory.
Leeward Renewable Energy has closed financing for Chaparral Springs Solar + Storage Project in California with 174-megawatt (MW) solar facility and 88-MW storage facility.
Wells Fargo, MUFG and Silicon Valley Bank will provide $260 million in Green Loan construction financing; while J.P. Morgan Chase will provide $143 million tax equity investment.
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They were the top stories from the US renewables market in November. The Renewables Roundup will return next month. Follow us on LinkedIn and Youtube to keep up with the latest updates.
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