Renewables Now Ltd

Spanish renewables developer-operator Grenergy Renovables SA (BME:GRE) has secured a senior non-recourse loan of USD 345 million (EUR 318.7m) plus other complementary credit lines to finance phases 1 and 2 of its gigawatt-scale Oasis de Atacama #solar-plus-storage project in northern #Chile. The company said on Wednesday it has closed the financing with a syndicate consisting of BNP Paribas, Natixis Corporate & Investment Banking, Societe Generale, The Bank of Nova Scotia and Sumitomo Mitsui Banking Corporation (SMBC), which are also mandated to finance phases 3 and 4. The close for these two phases is expected to take place in the coming months. Grenergy plans to invest up to USD 1.4 billion in the Oasis de Atacama project to install close to 1 GW of solar plants and 4.1 GWh of battery energy storage systems (BESS). The first two of the four phases correspond to 220 MWp of solar and 1.24 GWh of BESS. Grenergy expects to connect the first phase by the end of 2024. The remaining phases will, for the most part, be connected by 2025, according to the company. Among the suppliers for the project are Spanish power conversion specialist Ingeteam SA, which will supply technology for both the solar and the BESS portion of the development. China’s BYD Co Ltd (SHE:002594) is supplying its batteries for phases 1 and 2. Off-takers include an unnamed “international utility” and Chilean energy company Emoac, which signed 15-year power purchase agreements (PPAs) with Grenergy. With these PPAs, the Oasis de Atacama project is contracted for 75% of the output, according to Grenergy. https://lnkd.in/dyDBbhaa

“The USD 45 per MWh target is in sight for multiple next-generation geothermal technologies which may or may not be classified as Enhanced Geothermal, including some that have been developed in just the past few years like XGS Energy,” says XGS CEO Josh Prueher. #US #geothermal https://lnkd.in/dqVmyGy8

The unit of a major South Korean corporation intends to invest USD 681 million (EUR 630m) to build a high-voltage direct current (HVDC) submarine cable manufacturing facility in Virginia to serve the global offshore wind industry. In a statement on Tuesday, Virginia governor Glenn Youngkin announced that LS GreenLink USA Inc plans to construct the 750,000-sq-ft facility on about 100 acres of brownfield in the City of Chesapeake, creating over 330 full-time jobs. LS Greenlink is a subsidiary of power and communication cable and system solutions provider LS Cable & System Ltd (LS C&S), which, in turn, is owned by Korean industrial conglomerate LS Corporation (KRX:006260). “This facility will not only enhance our capability to meet the growing global demands for submarine power cables, but will also position us at the forefront of the industry,” said Bon-Kyu Koo, sresident & CEO of LS C&S. According to Governor Youngkin’s announcement, the project was secured thanks to a collaboration between the Virginia Economic Development Partnership, the City of Chesapeake, the Hampton Roads Alliance, and the Virginia Maritime Association. The governor himself has approved a USD-13.2-million grant from the Commonwealth’s Opportunity Fund to assist the city with the project. Furthermore, the developer is eligible to receive state benefits from The Port of Virginia Economic and Infrastructure Development Zone Grant Program. Industry organisation Oceantic Network welcomed the announcement and reminded that last week, another Network member company, Hellenic Cables, reached a final investment decision to buy land for a new cable facility in Baltimore. “Another day, another offshore wind announcement. Hundreds of millions of dollars and hundreds of long-term jobs are being made possible by the strength of the US offshore wind industry’s momentum and potential. This year we’ve already seen USD 2.2 billion in new manufacturing supply chain investments announced to produce steel, foundations, towers and cables that will supply the US industry for years and create good-paying jobs in places like Hampton, Houston, and the Ohio River valley,” commented Liz Burdock, founder and CEO of Oceantic Network. #USA #Virginia #offshorewind #cables https://lnkd.in/dKUxJCKr

Ørsted is now the full owner of the 924-MW Sunrise Wind offshore wind project off the coast of New York after completing the acquisition of the 50% share of New England utility Eversource Energy. Read more about the deal >> https://lnkd.in/dyyu-QxY #offshorewind #USA

RWE Supply & Trading has launched a tender to purchase up to 3 TWh of green power to meet the increasing demand for short-term clean electricity supply contracts from its corporate customers. The tender runs until August 16 and is targeted primarily at operators of #windfarms and #solarparks which no longer receive funding under the EEG scheme, the trading unit of German power major RWE AG said on Monday. Interested electricity producers can reach out to RWE directly. Submitted offers will be evaluated based on the provided data. If the proposed price is acceptable, RWE will directly purchase the quantities for customers seeking to meet their needs through short-term supply contracts. The green electricity is required for delivery in 2025 and 2026. Power plants must have a minimum capacity of 5 MW or an annual production of 12 GWh. The tender reflects the strong demand for power purchase agreements (PPAs) driven primarily by large companies that increasingly seek to cover their electricity needs with clean electricity, RWE noted. #Germany #windenergy #solarenergy

#China’s Ministry of Industry and Information Technology (MIIT) on Tuesday launched the public consultation period for a draft regulation that seeks to limit the excessive expansion of the country’s #solar manufacturing capacities. The consultation runs until July 15. More details about the proposed regulation: 👉 https://lnkd.in/dADmTSPc #China #solarenergy #solarmanufacturing #solarpower

Southeast Asia-focused Levanta Renewables, a portfolio company of UK investment firm Actis, has set foot in Thailand with the acquisition of a majority stake in a 139.4-MWp portfolio of 24 operational solar assets. The 90% shareholding was purchased from local renewables developer SUPER ENERGY CORPORATION PLC. and its subsidiary Super Energy Group Co Ltd. The full story: 👉 https://lnkd.in/dfe9DduY #solarenergy #solarpower #Thailand Featured Image: topten22photo/Shutterstock.com

Dominion Energy Inc is set to expand its gigawatts-scale Coastal Virginia Offshore Wind (CVOW) project with an agreement to acquire the nearby Kitty Hawk North offshore wind lease area in North Carolina from Avangrid Inc. Kitty Hawk North could accommodate 800 MW of power generating capacity. The price tag of the deal is USD 160 million (EUR 147.6m). Read more: 👉 https://lnkd.in/dMRgcd2c #offshorewind #USA

Renewables developer CWP Global and Port of Corner Brook have signed a memorandum of understanding (MoU) to consider the development of a green hydrogen hub at the industrial port in the eastern Canadian province of Newfoundland and Labrador. Read more: https://lnkd.in/dxqh9zfZ #Canada #greenhydrogen

The new #UK Labour government is ending the “absurd” ban on new #onshorewind in England, Chancellor Rachel Reeves announced today as she delivered her first speech. Read more: https://lnkd.in/dXVFV4zD