Leveraging Biofuels for a Cleaner Mobility Future

October 10, 2019 | 72 views

Biofuels are critical to our energy future. No matter how far electric vehicles come in the next 25 years, the internal combustion engines of today will continue to be a big part of our transportation reality. The only way to continue to move forward with a newer, cleaner mobility future is to include sustainable, domestically sourced biofuels from biomass and waste in our transportation portfolio.

Spotlight

Atlantica Yield

Atlantica Yield owns, manages and acquires a diversified portfolio of contracted assets in the power and environment sectors. We operate high-quality facilities recently constructed, with long useful lives. Our long-term contracts with creditworthy counterparties permit to generate stable and long-term cash-flows.

OTHER ARTICLES
SOLAR+STORAGE

Renewables find success in ‘black start’ experiment

Article | June 14, 2022

Have you ever thought about what would happen if a power station failed? Without electricity to bring itself back online, it would be near impossible for a station to begin operating again, like trying to set fire to paper without a flame. This scenario would quickly lead to widespread chaos, with hospitals and schools plunged into darkness, refrigeration, and sanitation seriously hampered and transport systems brought to a standstill. For these reasons (and many, many more), governments and electricity networks often have complex and rigorous plans in place to bring dead power stations back online at the earliest.

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SOLAR+STORAGE

Treasury Wine Estates To Install Thousands Of Solar Panels

Article | June 8, 2022

The company behind famous Australian wine brands including Penfolds and Wolf Blass is embracing solar energy in a big way. ASX-listed Treasury Wine Estates (TWE) is one of the world’s largest wine companies and has an ambition to be the “world’s most admired premium wine company”. A powerful way to win consumer hearts, minds (and wallets) these days is to have a strong focus on sustainability. As part of its sustainability mission, wines in TWE’s portfolio will be produced using 100% renewable electricity by 2024. In a step towards this renewables goal in Australia, approximately 9,500 solar panels will be installed at Barossa Winery and Production Centre in South Australia, and Karadoc Winery in Victoria by the end of this year. Collectively, the solar panels will generate more than 5,500 megawatt-hours of electricity annually, enough to supply the equivalent of 900 homes. Total capacity wasn’t mentioned, but given the annual output, I’d estimate it at around 3.75 MW.

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A vision for renewable energy

Article | February 11, 2020

Right now, renewable energy makes up a very small part of the entire energy sector of Bangladesh. But as we move into the future, and concerns about the environment become too great to ignore, exploring cleaner and greener sources of energy becomes the need of the hour. Our economy is booming, and our population is growing, so it goes without saying that our energy requirements are immense. There is plenty of scientific evidence that burning fossil fuels indiscriminately is not sustainable in the long term, so we do need to up our game in looking at alternatives.

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2020: The Year of Convergence in Corporate Renewables

Article | February 10, 2020

The rapid growth of corporate renewable procurement has been nothing short of a buyer-driven revolution in the United States’ electric sector. Almost 20 gigawatts (GWs) of corporate power purchasing agreements (PPAs) were completed in 2019 across the globe, up from 13 GWs of corporate PPAs in 2018 and triple the numbers from 2017.1,2 And the majority of this growth has come from the United States. Fortunately for those of us committed to renewable energy, we expect this trend to continue. But as should be expected in such a dynamic, buyer-driven sector, we are starting to see some noticeable shifts in the marketplace as it evolves and grows. I wanted to highlight some of the trends Constellation is watching for this year.

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Spotlight

Atlantica Yield

Atlantica Yield owns, manages and acquires a diversified portfolio of contracted assets in the power and environment sectors. We operate high-quality facilities recently constructed, with long useful lives. Our long-term contracts with creditworthy counterparties permit to generate stable and long-term cash-flows.

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STRATEGY AND BEST PRACTICES

IUCN and Huawei Both Push for a Greater Use of Technology to Protect the Environment

IUCN | June 07, 2022

The International Union for Conservation of Nature (IUCN), Huawei, and conservation project partners joined forces to urge for a greater global push to develop and implement innovative technologies to better safeguard the environment. The two partners held an online summit called "Tech for a Better Planet" to show how technology may dramatically improve nature conservation outcomes, as well as to introduce new digital technologies that are poised to become critical enablers of environmental protection. The process of responding to environmental concerns has raised awareness of the importance of technology in nature protection. "We believe that digital technology is a key enabler of environmental protection, All sectors of society should work together within an open and collaborative market environment to apply technological innovations to industries and transform new technologies into solutions and services that can help build a green planet." -Tao Jingwen, Director of the Board and Director of the Corporate Sustainable Development Committee for Huawei. Huawei supports the worldwide zero-carbon journey by promoting green development in industries through ICT breakthroughs. To speed the development of renewable energy, the company has merged power electronics and digital technology on the energy supply side. In terms of energy consumption, Huawei will continue to develop energy-saving technologies to improve the energy efficiency of ICT infrastructure, saving energy and lowering emissions in the process. Huawei has also created long-term partnerships to improve nature conservation outcomes by developing technology solutions that can better comprehend nature and lead to more effective biodiversity protection measures in a variety of environments. IUCN and Huawei started the global Tech4Nature project in 2020, and have since launched pilot programs in Switzerland, Spain, China, Mexico, and Mauritius based on the IUCN Green List Standard. IUCN, Huawei, and the Ecomode Society deployed the first underwater system in the Western Indian Ocean to monitor coral reef ecosystems in real time off the coast of Mauritius. The project's goal is to rebuild seriously threatened coral reef ecosystems by growing live coral in nurseries, transplanting it, and tracking growth, water conditions, and dangers such as algae. Underwater cameras with unique lenses, sensors, a 4G network to transport data, and AI to analyse the results are all part of the solution. Nearly 10,000 coral fragments have been transplanted to deteriorated reefs to date, with a total of 25,000 expected by the end of 2022.

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SOLAR+STORAGE

Greenwood Sustainable Infrastructure (GSI) Announces Utility Scale Deal with AquaSan to Provide Up to 233 MW in New Solar Capacity to Five U.S. States

Greenwood Sustainable Infrastructure | March 03, 2022

Greenwood Sustainable Infrastructure (GSI) announced it has taken a step towards providing more affordable, reliable, and clean access to energy for Americans. The North American solar energy investment and development subsidiary of the Libra Group announced that it has acquired a scalable portfolio of solar developments from AquaSan Network-subsidiary CMDAJ Holdings LLC (CMDAJ). This acquisition positions GSI to provide up to 233 megawatt (MW) in affordable, utility scale solar energy to new markets, including Minnesota, Colorado, Pennsylvania, South Carolina, and Wisconsin. Initially, GSI will develop 40 MW of early-stage utility scale solar developments in Minnesota, with the option to build an additional 193 MW in Colorado, Pennsylvania, South Carolina, and Wisconsin, doubling its current footprint to 10 U.S. states. Following this transaction, Libra Group subsidiaries, including GSI, will be close to reaching the one-gigawatt development mark, proving 950 MW in solar, wind and waste-to-energy with over 220 projects owned, currently under development, or previously developed in six countries. These developments will provide power to a combination of regulated utilities, investor-owned utilities and U.S. businesses allowing them to purchase solar energy to meet clean energy goals and lock in reduced electricity costs. The portfolio will increase access to reliable, clean energy and promote local job creation and the provision of clean, reliable and renewable water. We were proud to partner with CMDAJ, a team of experienced renewable energy and water project developers in Denver Colorado, to complete this deal which will increase access to reliable, clean energy and promote local job creation. The company and this transaction represent a key part of the Libra Group's commitment to renewable energy in the Americas and around the world." Camilo Patrignani, Libra Group EVP of Energy The U.S. renewable energy market is a multibillion-dollar sector. A global focus on clean power, where many U.S. developers lead the field, has given rise to new solutions with improved technology offering greater efficiencies year upon year. The assets from this deal will be co-owned and co-developed by the GSI and CMDAJ partnership. Once the projects are ready to build, GSI plans to construct and operate the power plants. "This is a very exciting announcement that will cement GSI's growth plans hand in hand with CMDAJ, and continue to support and advance the nation's transition to a reliable, clean energy future," said Mazen Turk, GSI CEO. "Since the start of operations in 2010, GSI has developed and built over 32 renewable energy assets and this acquisition furthers our exposure to the utility scale energy segment." "CMDAJ's team has developed over 2 gigawatts of thermal, solar, biomass and wind projects over the last 20 years and this partnership will enable us to expand our development portfolio and vertically integrate our efforts in renewable energy and water" said Carmine Iadarola, CEO of CMDAJ and AquaSan Network, Inc. About Greenwood Sustainable Infrastructure and Libra Group Greenwood Sustainable Infrastructure is one of the clean energy subsidiaries of the Libra Group, a privately-owned international business group spanning 35 countries across six continents and active in renewable energy, aviation, hospitality, real estate and shipping as well as selected diversified investments. GSI is focused investment, development, and operation of both distributed generation and utility-scale solar energy projects in North America. As of January 2022, the company developed approximately 200 MW in 32 renewable energy projects, many of which are still owned or operated by GSI. Recent partners include DTE Energy, Delmarva Power, and Duke Energy. Its sister company, Greenwood Energy Latinoamérica, is currently developing or managing close to 100 MW of on-site solar energy systems for public and private sector organizations wishing to offset their energy costs in Latin America, including the first utility-scale project in Panama. The Libra Group also owns Convergen Latvia, operating three biogas plants in Latvia and EuroEnergy, which operates solar and wind farms across Europe. About CMDAJ and AquaSan AquaSan was formed in 1983 by its current CEO Carmine Iadarola to provide administrative and technical services for the water infrastructure business. Over time, Aquasan got involved in the development of renewable energy projects as well and since then had developed 1,100 MWs of natural gas power, 1,000 MWs of wind, and 500 MWs of solar. AquaSan is a family owned business that employs 5 people and has rendered services to companies like Nextera, GCL, Xcel, Dominion, Pine Gate, Candela, Google, Kiewit and others.

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SOLAR+STORAGE

BlueWave Doubles Down on Sustainable Solar and Storage Development Efforts; Recaps Milestone Moments from 2021

BlueWave | March 02, 2022

BlueWave, a leading Boston-based solar and energy storage developer, announced milestone project development achievements and corporate contributions from the past year. Continuing its success as a leading solar developer in the New England region, BlueWave has developed and built more than 150 megawatts (MW) of solar as of the end of 2021, the equivalent amount of electricity needed to power 26,000 homes in a year. This year, BlueWave plans for forthcoming solar and standalone energy storage projects across 10 states in the U.S. Northeast and Mid-Atlantic regions, including plans to develop in the New Jersey and New York markets in 2022. A key update for BlueWave in 2021 was the spinout of BlueWave's community solar servicing team to its own company, Perch Energy. Perch will build upon its successful community solar services and management platform as an independent company with the same foundational goal to make clean energy more accessible and affordable. This spinout allows BlueWave to focus squarely on growing and executing its development portfolio. The negative impacts of climate change became more tangible than ever this past year and we're proud of the work we've contributed to increase the generation of clean energy in our communities and further protect our planet in the process. We see a bright future for Perch to introduce more people to the benefits of clean energy and we're ready to focus our talent on setting a new standard for responsible solar and energy storage development in the Northeast and Mid-Atlantic markets." Trevor Hardy, CEO and Co-Founder of BlueWave Responsible Development Milestones and Innovations Building on its legacy as the company that constructed the first community solar project in Massachusetts, BlueWave has maintained its innovative spirit to be a leader in sustainable and responsible solar development methods that do right by the land and local communities. Half of BlueWave's solar projects in Massachusetts are now dual-use, meaning they combine solar with land management philosophies rooted in conservation to deliver ecological, agricultural and energy benefits. BlueWave progressed the development of seven dual-use solar projects in 2021. BlueWave's responsible solar development strategy was recognized by multiple organizations in 2021, with the company receiving awards including Solar Builder's Project of the Year, Real Leaders Impact Award and the silver medalist award in the Energy category of Inc.'s 2021 Best in Business List. BlueWave was also recognized as a finalist for Northeast Clean Energy Council's Partnership of the Year award. Completion of Agrivoltaic Projects In October 2021, BlueWave announced the completion of Maine's first agrivoltaic solar project in Rockport, Maine. The 4.2 MW project, now owned by Navisun, combines solar and agriculture by positioning solar panels above an existing wild blueberry farm to reduce carbon emissions by approximately 3,775 metric tons. The project includes an agricultural research plot that will study how wild blueberry cultivation performs within a solar array to propel both the Maine agriculture and solar industries. BlueWave also constructed the largest purpose-built dual-use project in the United States and Massachusetts's first agrivoltaic project which will support the growth of both livestock and crops under the solar arrays installed in Grafton. The 3.12 MW project, now owned by AES, comprises 16 acres of solar arrays and includes DC coupled battery storage. BlueWave and the University of Massachusetts Amherst, funded by The United States Department of Energy, will study the impacts of the solar arrays on the soil health and crop production at the farm. Bringing Floatovoltaics to the Northeast In July of 2021 BlueWave entered into a joint venture agreement with Ciel et Terre, the world's leading floatovoltaics company, to develop floatovoltaics, or floating solar, projects in Massachusetts and other markets in the Northeast. BlueWave believes that floatovoltaics is an important initiative for the region as developing on man-made ponds and reservoirs solves land use problems that are common in New England and as demonstrated in Europe and Asia, can provide important ecological benefits to the water resources where the system is located. Expansion to Standalone Energy Storage Development A crucial step to reach the next generation of renewables, BlueWave grew its presence in the energy storage market with the creation of a dedicated storage-only team. With the mission to make communities' energy profiles more resilient and reliable by expanding the amount of clean energy the grid can hold, the division is focused on standalone energy storage project development in Massachusetts, New York, Connecticut and Pennsylvania with intentions to begin construction on projects in Massachusetts later this year through early 2023. "The benefits that energy storage can bring to communities are substantial, including local revenue for landowners, expanded consumer choice to opt-in to renewables and robust job growth in the burgeoning cleantech economy. It's an honor to further lead BlueWave into the storage-only sector and be another force in creating cleaner, safer and more sustainable communities," said Shawn Jones, Managing Director of Storage Development for BlueWave. Social Impact BlueWave is focused on far more than just clean power, and is a mission-driven company committed to transparency, sustainability, improving the lives of others and establishing an intrinsic link between environmental and social justice. Passionate about expanding participation and career opportunities in green energy, BlueWave is proud to have partnered with the Boston Private Industry Council (PIC), an organization that connects Boston residents with career pathways and provides employers with diverse talent pipelines, and Enroot, a program for immigrant youth to achieve academic, career and personal success, to hire interns to support the BlueWave team this past year. BlueWave was honored by the Annual Awards in Business Excellence from American Association of Blacks in Energy (AABE) as the winner of Excellence in Clean Energy Leadership. The award recognizes organizations that showcase exceptional work in the acceleration of a clean energy future in underrepresented and underserved communities. Furthering its commitment to civic engagement, BlueWave has increased its giveback operations by offering additional community service and chartiable giving engagement opportunities for employees. Further, the company expanded its network of charitable partners supporting efforts in agriculture, food insecurity, homelessness and youth. "From embarking on new development methods to entering new markets, and most importantly, introducing new future leaders to the green energy industry, this past year encompassed all that BlueWave stands for as a Certified B Corp," said John DeVillars, Chairman and Co-Founder of BlueWave. "We enter 2022 with a reinvigorated purpose to deliver groundbreaking solar and energy storage projects and improve the communities that we interact with." About BlueWave BlueWave's vision is to protect our planet by transforming access to renewable energy. As a pioneering solar developer, BlueWave has developed and built more than 150 MW of solar projects to date. As built, these projects collectively generate enough solar energy to avoid more than 144,000 metric tons of carbon emissions annually. A certified B Corp, BlueWave has received national recognition for its work to protect the planet, including being named the Clean Energy Company of the Year in 2018 by the Northeast Clean Energy Council, one of the top 100 Impact Companies in the United States for each of the last four years as rated by Real Leaders Magazine, and a leading growth company by Inc. Magazine and the Boston Business Journal.

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STRATEGY AND BEST PRACTICES

IUCN and Huawei Both Push for a Greater Use of Technology to Protect the Environment

IUCN | June 07, 2022

The International Union for Conservation of Nature (IUCN), Huawei, and conservation project partners joined forces to urge for a greater global push to develop and implement innovative technologies to better safeguard the environment. The two partners held an online summit called "Tech for a Better Planet" to show how technology may dramatically improve nature conservation outcomes, as well as to introduce new digital technologies that are poised to become critical enablers of environmental protection. The process of responding to environmental concerns has raised awareness of the importance of technology in nature protection. "We believe that digital technology is a key enabler of environmental protection, All sectors of society should work together within an open and collaborative market environment to apply technological innovations to industries and transform new technologies into solutions and services that can help build a green planet." -Tao Jingwen, Director of the Board and Director of the Corporate Sustainable Development Committee for Huawei. Huawei supports the worldwide zero-carbon journey by promoting green development in industries through ICT breakthroughs. To speed the development of renewable energy, the company has merged power electronics and digital technology on the energy supply side. In terms of energy consumption, Huawei will continue to develop energy-saving technologies to improve the energy efficiency of ICT infrastructure, saving energy and lowering emissions in the process. Huawei has also created long-term partnerships to improve nature conservation outcomes by developing technology solutions that can better comprehend nature and lead to more effective biodiversity protection measures in a variety of environments. IUCN and Huawei started the global Tech4Nature project in 2020, and have since launched pilot programs in Switzerland, Spain, China, Mexico, and Mauritius based on the IUCN Green List Standard. IUCN, Huawei, and the Ecomode Society deployed the first underwater system in the Western Indian Ocean to monitor coral reef ecosystems in real time off the coast of Mauritius. The project's goal is to rebuild seriously threatened coral reef ecosystems by growing live coral in nurseries, transplanting it, and tracking growth, water conditions, and dangers such as algae. Underwater cameras with unique lenses, sensors, a 4G network to transport data, and AI to analyse the results are all part of the solution. Nearly 10,000 coral fragments have been transplanted to deteriorated reefs to date, with a total of 25,000 expected by the end of 2022.

Read More

SOLAR+STORAGE

Greenwood Sustainable Infrastructure (GSI) Announces Utility Scale Deal with AquaSan to Provide Up to 233 MW in New Solar Capacity to Five U.S. States

Greenwood Sustainable Infrastructure | March 03, 2022

Greenwood Sustainable Infrastructure (GSI) announced it has taken a step towards providing more affordable, reliable, and clean access to energy for Americans. The North American solar energy investment and development subsidiary of the Libra Group announced that it has acquired a scalable portfolio of solar developments from AquaSan Network-subsidiary CMDAJ Holdings LLC (CMDAJ). This acquisition positions GSI to provide up to 233 megawatt (MW) in affordable, utility scale solar energy to new markets, including Minnesota, Colorado, Pennsylvania, South Carolina, and Wisconsin. Initially, GSI will develop 40 MW of early-stage utility scale solar developments in Minnesota, with the option to build an additional 193 MW in Colorado, Pennsylvania, South Carolina, and Wisconsin, doubling its current footprint to 10 U.S. states. Following this transaction, Libra Group subsidiaries, including GSI, will be close to reaching the one-gigawatt development mark, proving 950 MW in solar, wind and waste-to-energy with over 220 projects owned, currently under development, or previously developed in six countries. These developments will provide power to a combination of regulated utilities, investor-owned utilities and U.S. businesses allowing them to purchase solar energy to meet clean energy goals and lock in reduced electricity costs. The portfolio will increase access to reliable, clean energy and promote local job creation and the provision of clean, reliable and renewable water. We were proud to partner with CMDAJ, a team of experienced renewable energy and water project developers in Denver Colorado, to complete this deal which will increase access to reliable, clean energy and promote local job creation. The company and this transaction represent a key part of the Libra Group's commitment to renewable energy in the Americas and around the world." Camilo Patrignani, Libra Group EVP of Energy The U.S. renewable energy market is a multibillion-dollar sector. A global focus on clean power, where many U.S. developers lead the field, has given rise to new solutions with improved technology offering greater efficiencies year upon year. The assets from this deal will be co-owned and co-developed by the GSI and CMDAJ partnership. Once the projects are ready to build, GSI plans to construct and operate the power plants. "This is a very exciting announcement that will cement GSI's growth plans hand in hand with CMDAJ, and continue to support and advance the nation's transition to a reliable, clean energy future," said Mazen Turk, GSI CEO. "Since the start of operations in 2010, GSI has developed and built over 32 renewable energy assets and this acquisition furthers our exposure to the utility scale energy segment." "CMDAJ's team has developed over 2 gigawatts of thermal, solar, biomass and wind projects over the last 20 years and this partnership will enable us to expand our development portfolio and vertically integrate our efforts in renewable energy and water" said Carmine Iadarola, CEO of CMDAJ and AquaSan Network, Inc. About Greenwood Sustainable Infrastructure and Libra Group Greenwood Sustainable Infrastructure is one of the clean energy subsidiaries of the Libra Group, a privately-owned international business group spanning 35 countries across six continents and active in renewable energy, aviation, hospitality, real estate and shipping as well as selected diversified investments. GSI is focused investment, development, and operation of both distributed generation and utility-scale solar energy projects in North America. As of January 2022, the company developed approximately 200 MW in 32 renewable energy projects, many of which are still owned or operated by GSI. Recent partners include DTE Energy, Delmarva Power, and Duke Energy. Its sister company, Greenwood Energy Latinoamérica, is currently developing or managing close to 100 MW of on-site solar energy systems for public and private sector organizations wishing to offset their energy costs in Latin America, including the first utility-scale project in Panama. The Libra Group also owns Convergen Latvia, operating three biogas plants in Latvia and EuroEnergy, which operates solar and wind farms across Europe. About CMDAJ and AquaSan AquaSan was formed in 1983 by its current CEO Carmine Iadarola to provide administrative and technical services for the water infrastructure business. Over time, Aquasan got involved in the development of renewable energy projects as well and since then had developed 1,100 MWs of natural gas power, 1,000 MWs of wind, and 500 MWs of solar. AquaSan is a family owned business that employs 5 people and has rendered services to companies like Nextera, GCL, Xcel, Dominion, Pine Gate, Candela, Google, Kiewit and others.

Read More

SOLAR+STORAGE

BlueWave Doubles Down on Sustainable Solar and Storage Development Efforts; Recaps Milestone Moments from 2021

BlueWave | March 02, 2022

BlueWave, a leading Boston-based solar and energy storage developer, announced milestone project development achievements and corporate contributions from the past year. Continuing its success as a leading solar developer in the New England region, BlueWave has developed and built more than 150 megawatts (MW) of solar as of the end of 2021, the equivalent amount of electricity needed to power 26,000 homes in a year. This year, BlueWave plans for forthcoming solar and standalone energy storage projects across 10 states in the U.S. Northeast and Mid-Atlantic regions, including plans to develop in the New Jersey and New York markets in 2022. A key update for BlueWave in 2021 was the spinout of BlueWave's community solar servicing team to its own company, Perch Energy. Perch will build upon its successful community solar services and management platform as an independent company with the same foundational goal to make clean energy more accessible and affordable. This spinout allows BlueWave to focus squarely on growing and executing its development portfolio. The negative impacts of climate change became more tangible than ever this past year and we're proud of the work we've contributed to increase the generation of clean energy in our communities and further protect our planet in the process. We see a bright future for Perch to introduce more people to the benefits of clean energy and we're ready to focus our talent on setting a new standard for responsible solar and energy storage development in the Northeast and Mid-Atlantic markets." Trevor Hardy, CEO and Co-Founder of BlueWave Responsible Development Milestones and Innovations Building on its legacy as the company that constructed the first community solar project in Massachusetts, BlueWave has maintained its innovative spirit to be a leader in sustainable and responsible solar development methods that do right by the land and local communities. Half of BlueWave's solar projects in Massachusetts are now dual-use, meaning they combine solar with land management philosophies rooted in conservation to deliver ecological, agricultural and energy benefits. BlueWave progressed the development of seven dual-use solar projects in 2021. BlueWave's responsible solar development strategy was recognized by multiple organizations in 2021, with the company receiving awards including Solar Builder's Project of the Year, Real Leaders Impact Award and the silver medalist award in the Energy category of Inc.'s 2021 Best in Business List. BlueWave was also recognized as a finalist for Northeast Clean Energy Council's Partnership of the Year award. Completion of Agrivoltaic Projects In October 2021, BlueWave announced the completion of Maine's first agrivoltaic solar project in Rockport, Maine. The 4.2 MW project, now owned by Navisun, combines solar and agriculture by positioning solar panels above an existing wild blueberry farm to reduce carbon emissions by approximately 3,775 metric tons. The project includes an agricultural research plot that will study how wild blueberry cultivation performs within a solar array to propel both the Maine agriculture and solar industries. BlueWave also constructed the largest purpose-built dual-use project in the United States and Massachusetts's first agrivoltaic project which will support the growth of both livestock and crops under the solar arrays installed in Grafton. The 3.12 MW project, now owned by AES, comprises 16 acres of solar arrays and includes DC coupled battery storage. BlueWave and the University of Massachusetts Amherst, funded by The United States Department of Energy, will study the impacts of the solar arrays on the soil health and crop production at the farm. Bringing Floatovoltaics to the Northeast In July of 2021 BlueWave entered into a joint venture agreement with Ciel et Terre, the world's leading floatovoltaics company, to develop floatovoltaics, or floating solar, projects in Massachusetts and other markets in the Northeast. BlueWave believes that floatovoltaics is an important initiative for the region as developing on man-made ponds and reservoirs solves land use problems that are common in New England and as demonstrated in Europe and Asia, can provide important ecological benefits to the water resources where the system is located. Expansion to Standalone Energy Storage Development A crucial step to reach the next generation of renewables, BlueWave grew its presence in the energy storage market with the creation of a dedicated storage-only team. With the mission to make communities' energy profiles more resilient and reliable by expanding the amount of clean energy the grid can hold, the division is focused on standalone energy storage project development in Massachusetts, New York, Connecticut and Pennsylvania with intentions to begin construction on projects in Massachusetts later this year through early 2023. "The benefits that energy storage can bring to communities are substantial, including local revenue for landowners, expanded consumer choice to opt-in to renewables and robust job growth in the burgeoning cleantech economy. It's an honor to further lead BlueWave into the storage-only sector and be another force in creating cleaner, safer and more sustainable communities," said Shawn Jones, Managing Director of Storage Development for BlueWave. Social Impact BlueWave is focused on far more than just clean power, and is a mission-driven company committed to transparency, sustainability, improving the lives of others and establishing an intrinsic link between environmental and social justice. Passionate about expanding participation and career opportunities in green energy, BlueWave is proud to have partnered with the Boston Private Industry Council (PIC), an organization that connects Boston residents with career pathways and provides employers with diverse talent pipelines, and Enroot, a program for immigrant youth to achieve academic, career and personal success, to hire interns to support the BlueWave team this past year. BlueWave was honored by the Annual Awards in Business Excellence from American Association of Blacks in Energy (AABE) as the winner of Excellence in Clean Energy Leadership. The award recognizes organizations that showcase exceptional work in the acceleration of a clean energy future in underrepresented and underserved communities. Furthering its commitment to civic engagement, BlueWave has increased its giveback operations by offering additional community service and chartiable giving engagement opportunities for employees. Further, the company expanded its network of charitable partners supporting efforts in agriculture, food insecurity, homelessness and youth. "From embarking on new development methods to entering new markets, and most importantly, introducing new future leaders to the green energy industry, this past year encompassed all that BlueWave stands for as a Certified B Corp," said John DeVillars, Chairman and Co-Founder of BlueWave. "We enter 2022 with a reinvigorated purpose to deliver groundbreaking solar and energy storage projects and improve the communities that we interact with." About BlueWave BlueWave's vision is to protect our planet by transforming access to renewable energy. As a pioneering solar developer, BlueWave has developed and built more than 150 MW of solar projects to date. As built, these projects collectively generate enough solar energy to avoid more than 144,000 metric tons of carbon emissions annually. A certified B Corp, BlueWave has received national recognition for its work to protect the planet, including being named the Clean Energy Company of the Year in 2018 by the Northeast Clean Energy Council, one of the top 100 Impact Companies in the United States for each of the last four years as rated by Real Leaders Magazine, and a leading growth company by Inc. Magazine and the Boston Business Journal.

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