AfDB approves US$20 million financing for clean energy mini-grids in the Congo

PV Tech | March 28, 2019

The African Development Bank Board has approved US$20 million in loans to the Democratic Republic of Congo (DRC), to support renewable energy mini-grids of 3-10MW capacity at three cities that are currently off-grid. The national grid covers just 10% of the African country, so the DR Congo Green Mini-Grid Program, serving the cities of Isiro, Bumba and Genema, will act as a key pilot ahead of private-led electrification using mini-grid technology across the country. This includes in cities with several hundred thousand residents without modern power. Many Congolese use kerosene or diesel for lighting, cookers and electricity generators, with less than 1% of rural and 35% of urban areas having access to electricity from the national grid. Under the new programme, however, the new mini-grids are expected to directly power 21,200 households and 2,100 SMEs and public buildings, benefitting at least 150,000 people.

Spotlight

Over more than a decade, the wind farm has boosted income for farmers and local businesses, provided substantial tax benefits for schools and services, and created jobs for local residents. It’s also become a source of pride and identity for these communities.

Spotlight

Over more than a decade, the wind farm has boosted income for farmers and local businesses, provided substantial tax benefits for schools and services, and created jobs for local residents. It’s also become a source of pride and identity for these communities.

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TRANSPORTATION

Fisker and Wallbox Partner Globally for Home EV Charging Solutions

Fisker and Wallbox | September 26, 2022

Fisker Inc. (NYSE: FSR) ("Fisker") – passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions – and Wallbox (NYSE: WBX), a leading provider of electric vehicle and energy management solutions worldwide, name Wallbox as Fisker's global partner for home EV charging solutions Fisker and Wallbox are partnering to offer Fisker EV owners Wallbox home EV chargers for purchase through the Fisker website in the U.S., Canada, and European launch markets. The Pulsar Plus, Wallbox's best-selling charger worldwide and one of the smallest smart universal EV chargers, will be available to the North American market through Fisker. In Europe, Fisker will be the first OEM to offer Wallbox's Pulsar Max charger, providing localized charging solutions to drivers in seven European countries. Like Pulsar Plus, Pulsar Max delivers top charging speeds and offers the full Wallbox energy management suite, including solar charging, so users can enjoy their EVs to the fullest. Both chargers display customized Fisker and Wallbox logos and can be installed in homes, offices, and multi-unit dwellings to provide straightforward and efficient charging. "Fisker is laser-focused on giving our customers simple and intuitive technology combined with clever design to make owning an EV easier. Together with Wallbox, we are providing class-leading, competitively priced chargers for Fisker owners, "Wallbox's track record of delivering well-designed, innovative, and dependable charging systems on a global scale makes the partnership a perfect fit for our customers and our business." -Chairman and CEO Henrik Fisker Making home charging accessible is key to accelerating the transition to EVs globally, and partnering with Fisker will allow us to support more drivers as they make the transition, said Douglas Alfaro, General Manager of Wallbox North America. There is a natural alignment between our two brands, so we are excited to announce our partnership with Fisker. Fisker and Wallbox also plan to offer home installation services provided by Wallbox in Europe. In the U.S. and Canada, installation services will be provided by COIL, a recent Wallbox acquisition. Wallbox Pulsar Plus smart chargers will be available to Fisker Ocean reservation holders starting November 2022 in the U.S. and Canada. Wallbox Pulsar Max smart chargers will be available to Fisker Ocean reservation holders starting November 2022 in our European launch markets: Austria, Denmark, France, Germany, Norway, Sweden, and The United Kingdom. Pricing to be announced. The Fisker Ocean, Fisker's ground-breaking all-electric SUV, is available in three trim levels: Extreme, Ultra, and Sport. The top trim Fisker Ocean Extreme travels 350 miles1 on a single charge, with dual-motor, all-wheel-drive, three driving modes, Revolve 17.1" rotating screen, SolarSky roof, California Mode, Smart Traction, and many first-to-market safety features, including the world's first digital radar, all for $68,9992 in the U.S. Production of the Fisker Ocean is on track for November 17, 2022, at a carbon-neutral factory in Graz, Austria. Deliveries to customers will begin shortly after. About Fisker Inc. California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by the vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world's most sustainable vehicles. To learn more, visit www.FiskerInc.com – and enjoy exclusive content across Fisker's social media channels: Facebook, Instagram, Twitter, YouTube, and LinkedIn. About Wallbox Wallbox is a global company, dedicated to changing the way the world uses energy in the electric vehicle industry. Wallbox creates smart charging systems that combine innovative technology with outstanding design and manage the communication between vehicle, grid, building and charger. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public and public use in more than 100 countries. Founded in 2015, with headquarters in Barcelona, Wallbox's mission is to facilitate the adoption of electric vehicles today to make more sustainable use of energy tomorrow. The company employs approximately 1,100 people in Europe, Asia, and the Americas.

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STRATEGY AND BEST PRACTICES

Schneider Electric advances customer wind and solar farm operations with complete digital continuity

Schneider Electric | October 13, 2022

Schneider Electric, the leader in the digital transformation of energy management and automation, announced an important technology advancement that extends digital twins from the design and engineering stage into the operations and maintenance stage of renewable energy installations, at the Innovation Summit World Tour, Schneider Electric's annual customer and partner event. The new solution, called EcoStruxure for Renewables, is designed for companies developing renewables projects -- including hybrid projects that mix solar, wind, and storage. It is also ideal for industrial businesses that are seeking to decarbonize their operations by integrating hybrid power sources such as on-site solar plus traditional gensets. "With the energy crisis driving an accelerated energy transition, grids of the future are evolving to better accommodate more renewable energy. That means making sure solar and wind farm operations can keep feeding the grid with green electricity and ensuring that industries can feed their operations with sustainable energy sources. Our latest digital twin technology in EcoStruxure for Renewables gives companies the digital continuity to make it work," -Frederic Godemel, Executive Vice President of Power Systems and Services at Schneider Electric. Existing digital twins are used to manage design and simulation during the project engineering phase. EcoStruxure for Renewables now enable renewable energy asset managers leverage the same data and digital twins to operate their renewable installations. It facilitates everything from the supervision of a single renewable farm hyper vision decreasing (MTTR) and increasing mean time between failure (MTBF). For total operational awareness of renewable generation fleets, the digital twins of EcoStruxure for Renewables can further feed actionable, real-time data to AVEVA Unified Operations Center for Renewables. This end-to-end approach enables agile and responsive management of wind and solar operations by making the complete enterprise visible. It creates value by combining broad insights into geographically dispersed sites with the ability to drill-down on specific performance KPIs and see real-time operations. About Schneider Electric Schneider's purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.Our mission is to be your digital partner for Sustainability and Efficiency. We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

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SUSTAINABILITY,STRATEGY AND BEST PRACTICES

Leeward Renewable Energy Closes Financing for Big Plain and Oak Trail Solar Projects

Leeward Renewable Energy | November 29, 2022

Leeward Renewable Energy (“LRE” or “Company”) announced that it has closed approximately $420 million in construction to term financing from MUFG Bank Ltd. and a $195 million tax equity commitment from Wells Fargo for its Big Plain Solar Facility located in London, Ohio and its Oak Trail Solar Facility located near Moyock, North Carolina.MUFG served as the Green Loan Structuring Agent, Coordinating Lead Arranger and Administrative Agent for the construction to term financing, arranging financing commitments from eight financial institutions and Export Development Canada (EDC). The debt was issued under the Green Loan Principles, which aim to facilitate and support environmentally sustainable economic activity. “We are pleased to have secured financing for our Big Plain and Oak Trail projects, marking another significant milestone in the development of our solar energy portfolio, These agreements demonstrate the continued confidence financial institutions hold in our project portfolio and performance as we continue to execute on our contracted 2022 – 2023 pipeline. We appreciate the continued support from each of our participating financial institutions, particularly under terms that help advance and enhance LRE’s own environmental and social initiatives.” -Chris Loehr, Senior Vice President of Finance. MUFG is proud to have partnered with Leeward Renewable Energy on another important project, said Beth Waters, Managing Director, Project Finance, MUFG. Supporting our clients in building sustainable and renewable energy sources is a crucial tenet of our business, and we look forward to working closely with Leeward on future projects. In 2021, Wells Fargo established its Institute for Sustainable Finance, which supports clients and communities to accelerate the transition to an equitable, low‑carbon economy, including the deployment of $500 billion in financing to sustainable businesses and projects by 2030. Approximately $68 billion in sustainable finance was deployed in 2021. We are proud to provide tax equity financing to Leeward for this solar portfolio,” said Samantha Buechner, director in Wells Fargo’s Renewable Energy & Environmental Finance group. “We look forward to continuing to support Leeward and the transition to a low-carbon economy. The Big Plain and Oak Trail Solar facilities are currently under construction and, when completed, will provide a combined 296 megawatts (MW) of renewable energy to Verizon Communications under a long-term power purchase agreement. Both projects are expected to reach commercial operation by mid-2023. About Leeward Renewable Energy, LLC Leeward Renewable Energy (LRE) is a leading renewable energy company that owns and operates a portfolio of 24 renewable energy facilities across nine states totaling approximately 2,500 megawatts of generating capacity. LRE is actively developing and contracting new wind, solar, and energy storage projects in energy markets across the U.S., with 1.9 gigawatts contracted and 20 gigawatts under development and construction, spanning over 100 projects. LRE is committed to providing long-term, sustainable energy solutions across all its projects that benefit its community partners while protecting and enhancing the environment. LRE is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada’s largest defined benefit pension plans with $121 billion in net assets (as of December 31, 2021). For more information, visit www.leewardenergy.com.

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