Amazon boss Jeff Bezos commits 10 billion dollars to fight climate change

Amazon | February 17, 2020

Amazon founder Jeff Bezos says that he plans to spend 10 billion US dollars (£7.7 billion) of his own fortune to help fight climate change. Mr Bezos, the world’s richest man, said in an Instagram post that he will start giving grants this summer to scientists, activists and nonprofits working to protect the earth. “I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change,” Mr Bezos said in the post. Amazon, the company Mr Bezos runs, has an enormous carbon footprint. Last year, Amazon officials said the company would work to have 100% of its energy use come from solar panels and other renewable energy by 2030. The online retailer relies on fossil fuels to power planes, trucks and vans in order to ship billions of items all around the world.

Spotlight

Operators of newly constructed solar farms need to begin producing commercial power as quickly as possible. Using load bank solutions to expedite the commissioning process helps EPC firms meet production goals and end of the year tax incentives. When grid power is not available, load testing is the best method of fully energizing a solar system to ensure it functions as intended on schedule.

Spotlight

Operators of newly constructed solar farms need to begin producing commercial power as quickly as possible. Using load bank solutions to expedite the commissioning process helps EPC firms meet production goals and end of the year tax incentives. When grid power is not available, load testing is the best method of fully energizing a solar system to ensure it functions as intended on schedule.

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STRATEGY AND BEST PRACTICES

Ameresco and Bright Canyon Energy Host Groundbreaking Ceremony for Kūpono Solar at Joint Base Pearl Harbor-Hickam

Ameresco, Inc., | October 12, 2022

Ameresco, Inc., (NYSE: AMRC), a leading clean technology integrator specializing in energy efficiency and renewable energy, and Bright Canyon Energy, a leading developer of energy infrastructure, hosted a groundbreaking and blessing ceremony for the Kūpono Solar Project on Friday, October 7, 2022.This combined solar and battery storage system will be built at the Joint Base Pearl Harbor-Hickam West Loch Annex in Hawai‘i. Once operational, the project is designed to deliver 42 megawatts (MW) of clean, renewable energy to Hawaiian Electric’s (HECO) grid on the island of O‘ahu. Attendees at the event heard from U.S. Senator Mazie Hirono, Lt. Governor Josh Green, and Meredith Berger, Assistant Secretary of the U.S. Navy for Energy, Installations, and Environment. Using approximately 131 acres of Federal land, the Kūpono Solar Project will feature the installation of a 42-MW photovoltaic solar array and 42 MW/168 MWh (four-hour duration) of lithium-ion battery storage system. The batteries are designed to store solar energy beyond sunset hours, enabling the project to deliver sustainable, renewable energy to power approximately 10,000 homes on O‘ahu. Additionally, once fully operational, the project is expected to reduce more than 50,000 tons of carbon dioxide annually from Hawai‘i’s environment, which is the equivalent to offsetting emissions from 12,000 cars annually. Today, we are taking significant strides to strengthen our state’s energy security and resilience, and thanks to the ‘Ewa community, Navy, Hawaiian Electric, Ameresco and Bright Canyon Energy, we are now steps closer to reaching Hawai‘i’s renewable energy vision of achieving 100% clean energy by 2045, said Lt. Governor Josh Green.“Kūpono Solar is a landmark initiative for us that will not only benefit our state’s economy but will also bolster our sustainability efforts and local communities through stable, affordable energy, innovative technology and job creation. Ameresco and Bright Canyon Energy established a joint venture in 2021 known as Kūpono Solar Development Company, LLC to advance the Kūpono Solar Project, which is the first project of the joint venture. In support of the Department of Defense’s long-term energy security initiative to increase clean energy reliability and military capabilities, and the state’s goals of renewable energy and decarbonization, Kūpono Solar has a 37-year land lease agreement with the Navy to provide critical energy resiliency upgrades for O’ahu. “The Department of the Navy is proud to partner with the Kūpono Solar team and Hawaiian Electric as we enhance mission and community resilience and move purposefully towards Hawaii and Navy’s energy goals, This is a great example of climate action, building access to clean, reliable energy sources inside and outside the fenceline.” -Meredith Berger, Assistant Secretary of the Navy for Energy, Installations, and Environment. Kūpono Solar will own and operate this solar and battery project under a 20-year power purchase agreement with Hawaiian Electric. The project will benefit the state’s long-term clean energy transition plan while setting the foundation for Ameresco and Bright Canyon Energy to bring a diversified portfolio of clean energy solutions to Hawai‘i in the future. The start of this project comes at a time when the need for consistent energy security and independence is at an all-time high, said Nicole Bulgarino, Executive Vice President and General Manager of Federal Solutions, Ameresco. “The solar and battery storage solutions that are being implemented will deliver clean, renewable energy to the grid and benefit businesses and residents across Hawai‘i. Through our strategic relationships with the Navy, Hawaiian Electric and the community, we are able to leverage clean technology and infrastructure upgrades to help the state of Hawai‘i reach its renewable energy goals and the Navy achieve its climate and energy resiliency objectives, said Jason Smith, General Manager, Bright Canyon Energy. “It’s energizing to work with a group of partners committed to bringing this key energy infrastructure to O‘ahu and its residents. Construction on the Kūpono Solar Project is expected to be completed in early 2024. About Ameresco, Inc. Founded in 2000, Ameresco, Inc. (NYSE: AMRC) is a leading independent clean technology integrator of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction, and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state, and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and Europe. For more information, visit www.ameresco.com. About Bright Canyon Energy Bright Canyon Energy is a developer, owner, and operator of electric infrastructure in the United States. The company creates sustainable energy solutions for customers, focusing on clean energy, microgrids, energy storage and transmission. With headquarters in Phoenix, Bright Canyon Energy is a wholly owned subsidiary of Pinnacle West Capital Corp. (NYSE: PNW).

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SUSTAINABILITY, STRATEGY AND BEST PRACTICES

Advent Technologies signs MoU with Saudi based Company, Hydrogen Systems, Inc. to Distribute Fuel Cells and Hydrogen Products in the Middle East

Advent Technologies Holdings, Inc. | September 16, 2022

Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent“ or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology space,announced it has signed a Memorandum of Understanding (“MoU”) with Hydrogen Systems, Inc. (“Hydrogen Systems”), a hydrogen energy solutions company based in Riyadh, Saudi Arabia, to provide integrated hydrogen solutions and value-added support to industrial and renewable energy markets in the Middle East. Under the MoU, Hydrogen Systems aims to utilize a vast number of existing relationships in the telecom and hydrogen energy marketplace in the Kingdom of Saudi Arabia, and elsewhere throughout the Middle East to market, sell, distribute, install and service Advent’s full line of high-temperature proton exchange membrane (“HT-PEM”) fuel cells and hydrogen production products. Simultaneously, Advent and Hydrogen Systems intend to collaborate and explore potential large-scale development opportunities for hydrogen fuel cell power applications across the region. Advent’s family of products, including the Serene and M-ZERØ® fuel cell systems, realize a significant carbon advantage over conventional diesel remote power generation technology. HT-PEM fuel cells can operate with a range of low or zero-carbon hydrogen fuels and enable more efficient heat management. Such fuel cells can produce power in extreme ambient temperatures (from -40°C to up to +55°C) and conditions such as high air pollution and low humidity, resulting in a longer lifetime and lower total cost of ownership. “We look forward to a successful partnership with Hydrogen Systems to support the effort in the Middle East to decarbonize faster by adopting hydrogen and HT-PEM fuel cells to replace conventional and polluting energy sources. Hydrogen Systems’ industry knowledge and reach provide an advantage in bringing disruptive, emerging fuel cell solutions to a mature application.” -Dr. Vasilis Gregoriou, Advent’s Chairman and Chief Executive Officer Sattam Alsuwailem, Chief Executive Officer of Hydrogen Systems, We are excited to have Advent as our new industry partner and truly believe that this new collaboration can play a vital role in speeding up the Middle East’s transition to clean energy technologies. All of us at Hydrogen Systems are connected through a shared mission to continue providing our customers with the most reliable, efficient, and cost-effective hydrogen solutions. We look forward to further strengthening this mission by bringing Advent’s highly differentiated technology to the Middle East market. About Advent Technologies Holdings, Inc. Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 150 patents issued, pending, and/or licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions, conferring the virtues of a flexible fuel option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy. About Hydrogen Systems, Inc. Hydrogen Systems is a Saudi Arabia based company dedicated to delivering the most comprehensive and cost-effective hydrogen gas solutions to its customers in the greater GCC region. Hydrogen Systems was founded in 2009 and has grown steadily over the last 10 years by providing valuable solutions and services to their customers. With the establishment of the Hydrogen Energy Center of Excellence, Hydrogen Systems is committed to the localization and development of hydrogen energy and decarbonization solutions to meet the growing demand in the region.

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SOLAR+STORAGE,INDUSTRY UPDATES

Avantus and Allianz Capital Partners Announce Completion of Sale for Galloway 2 Solar Project

Avantus | November 07, 2022

Avantus (formerly 8minute) announced it has completed the sale of the 147-megawatt (MWdc) Galloway 2 Solar Project to Allianz Capital Partners, one of the Allianz Group's asset managers for alternative equity investments. Located in Concho County in Central Texas, Galloway 2 is expected to inject tens of millions of dollars into the local economy and, once operating, will provide enough affordable, reliable energy for 60,000 people.“Everyone – from large corporations and international investors to small business owners and local communities – is recognizing the benefits that solar energy can bring, said Dr. Tom Buttgenbach, Founder and CEO of Avantus. Projects like Galloway 2 are a critical demonstration that solar is an affordable, zero-carbon energy solution to strengthen the grid, showing our nation can prioritize and uplift our communities while meeting our climate commitments on the global stage. Galloway 2 will not only contribute clean energy to Texas’ grid, but it will also support good-paying jobs and increased economic benefits for Concho County and local public services. The project is expected to generate over $18 million in local property taxes, with more than half directly benefitting the Paint Rock Independent School District. Initial work began at the site in the late summer and is ramping to peak construction in the next few weeks, supporting over 250 jobs. Following the acquisition of the Lotus Solar Farm in 2019, this is the second transaction between Avantus and Allianz Global Investors. As part of the organization’s vision to become a clean energy major, Avantus is proud to work with investment partners like Allianz to rapidly scale clean energy projects at the accelerated rate needed to mitigate the worst impacts of climate change. “As one of the world’s largest infrastructure and renewable energy investors, we are thrilled to announce this transaction, which meaningfully advances our mission to accelerate renewables deployment globally,” -Daniel de Boer, Head of Renewables - Americas at Allianz Capital Partners. Avantus retains a minority stake in Galloway 2 and will continue to oversee procurement, construction and asset management. Avantus previously secured a long-term power purchase agreement (PPA) with EDF Energy Services, which is supplying the power to BASF under its commercial and industrial retail power business. “We are glad to work together with strong partners to secure renewable energy, adding to our energy mix at the site in Freeport, Texas, This project is an important contribution to our ambitious goal of achieving net-zero emissions by 2050.” -Brad Morrison, Senior Vice President and Site Manager for BASF in Freeport. RES is providing the Engineering, Procurement, and Construction services for Galloway 2. Construction financing was arranged by CIT. Tenaska led the tax equity investment for the project and Tenaska’s power marketing affiliate, Tenaska Power Services Co., will serve as the qualified scheduling entity when the project comes online in 2023. Galloway 2 is Avantus’ third greenfield-developed project to reach construction in Texas, where the company has already brought 600 MWdc of solar energy online. Spanning more than 90 utility-scale projects across Texas and the Southwest, Avantus’ development pipeline exceeds 50 gigawatts (GW) of system capacity, including 42 GW of solar and 78 gigawatt-hours (GWh) of energy storage. This portfolio represents over $70 billion in investments and is large enough to provide power for more than 30 million people, day and night. ABOUT AVANTUS Avantus is shaping the future by making reliable, accessible clean energy a global reality. Our legacy of leadership in next generation solar energy includes developing the nation’s largest solar cluster and the first plant to beat fossil fuel prices. Today, we are expanding the boundaries of existing technologies to build one of the largest portfolios of smart power plants with integrated storage, capable of providing 30 million people with low-cost, zero-emission energy – day and night. Through our relentless pursuit of better, we are decarbonizing our planet at the gigaton level, and bringing the advantages of clean energy to all of us. ABOUT ALLIANZ CAPITAL PARTNERS Allianz Capital Partners is one of the Allianz Group's asset managers for alternative equity investments and part of Allianz Global Investors. Allianz Capital Partners manages over 56 billion euros in alternative assets for the Allianz Group and third-party investors*. Our investment focus is on private equity, infrastructure and renewable energy. Our investment strategy aims to generate attractive, long-term and stable returns for our clients. *Data as of June 30, 2022

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