Capstone Infrastructure Corporation | November 06, 2020
Capstone Infrastructure Corporation is pleased to announce a Claresholm Solar Project financing update. On July 9, 2020, Claresholm signed a credit agreement with ATB Financial, Fiera Infrastructure Private Debt Fund LP and Telus Pensions Liability Hedging Master Trust to provide up to $115 million of construction to term financing for the 132 MWac Claresholm Solar Project, located in the Municipal District of Willow Creek, Alberta. Along with our partner, Denmark-based Obton A/S (“Obton”), we are excited to announce that all the funding conditions have been met and construction is in full swing. “We greatly appreciate the efforts and support of our lenders at ATB, Fiera and Telus, who also share our strong belief in the project and the province of Alberta. The financing represents a major milestone in delivering this groundbreaking project, which, when complete, will be Canada’s largest solar facility.” Andrew Kennedy, Chief Financial Officer, Capstone.
Solar developer | November 18, 2020
The AES Corporation reported a concurrence with Alberta Investment Management Corporation (AIMCo) to consolidate the sPower advancement stage, a free U.S. sun based engineer, with AES's U.S.- based clean energy advancement business. AES's completely claimed clean energy improvement business incorporates AES Distributed Energy and a breeze advancement group earlier piece of Advance Energy.
As states, networks and associations make duties and arrangement to lessen their carbon impressions, renewables are on target to be the quickest developing wellspring of power age in the U.S. in 2020.
“We share our customers’ commitments to a more sustainable energy future. Together, we can create a safe, resilient and carbon-free grid,” said Andrés Gluski, president and CEO of AES. “The merger of sPower with AES’ clean energy business will benefit customers by providing access to a broader portfolio of product offerings as well as an expanded highly skilled and experienced team to drive innovation at scale.”
The merged renewables platform will bring together sPower’s and AES’ differentiated capabilities in solar, wind and energy storage to accelerate customers’ energy transitions.
“sPower has been one of our key infrastructure platforms since our initial investment made in partnership with AES in 2017,” sai Kevin Uebelein, CEO of AIMCo. “Our experience working with AES has shown that they are a world leader in delivering on customers’ sustainable energy needs, and the formation of this new renewables platform in the U.S. will take that capability to an even higher level. On behalf of our clients and consistent with our investment mandate, we are excited about the value the next phase of our partnership will bring to our many stakeholders.”
Future projects developed from the combined 12 GW development pipeline will be owned 75% by AES and 25% by AIMCo, leveraging the partnership with sPower. Although there is no change in ownership of operating assets and backlog, the newly formed platform will manage the 2.5 GW of operating assets and the existing 2.6 GW contracted backlog. The transaction is expected to close in the next few months upon successful completion of customary closing conditions.
“This platform will bring tremendous value to our customers as they pursue their business objectives and climate commitments,” said Leo Moreno, AES Clean Energy president. “Our expanded portfolio of innovative solutions based on cutting-edge technologies will enable us to work together with our customers to power their energy transitions while making a carbon-free future possible.”
Eos Energy | January 05, 2021
Eos Energy Enterprises, Inc. (NASDAQ: EOSE) ("Eos"), a main supplier of protected, adaptable, effective, and reasonable zinc-based energy stockpiling frameworks, today declared a firm request from EnerSmart, an engineer, proprietor and administrator of utility scale energy stockpiling projects, to give in any event 90MWh, and as much as 180MWh, of energy stockpiling throughout the following two years.
The ventures are intended to be fueled by Eos' inventive Znyth® battery innovation to give improved lattice solidness and expanded renewables use across various areas in California. The principal project, foreseen to supply 9MWh of capacity in El Cajon to CAISO (California's autonomous network administrator), is esteemed at $2 million with establishment planned for the final quarter of 2021.
"We are energized and accept that this understanding will grow our introduced base and keep on demonstrating the interest for longer span stockpiling. We anticipate working with EnerSmart to bring inventive innovation intended to make a drawn out certain effect on California's capacity network," said Balki Iyer, Chief Commercial Officer of Eos.
The Eos Znyth® battery is intended to give persistent force upon establishment and is foreseen to have a helpful existence of 20 years. This decidedly keen stockpiling arrangement created in Edison, NJ is demonstrated to be protected across a wide scope of working conditions and will be sent from Eos' assembling office situated in Pittsburgh, PA.
"As we extend our arrangement of utility scale energy projects in key business sectors, we depend on innovation that can give protected, solid stockpiling at an appealing cost," said Marc La Magna, Co-originator and Managing Partner at EnerSmart. "Eos Energy's innovation is intended to address these territories and significantly, they share our enthusiasm and idealism that energy stockpiling and sustainable power ventures will keep on being broadly received in California and around the nation."