Another hedged solar project moves forward in Texas

pv magazine USA | October 17, 2019

In Texas’ red-hot solar market, you no longer need a power purchase agreement (PPA) to get financing for your project. In the Lone Star State a new business model of building solar plants to sell power on the wholesale market, with this sale underwritten by hedges, is emerging. What’s more important is that these projects are getting the cash needed to go forward. But as is often the case with business model developments, the new model of hedges is far from replacing the PPA. As evidence of this, yesterday Cubico Sustainable Investments announced that it has reached financial close on the 162 MW Wagyu solar project in Brazoria County on Texas’ Gulf Coast, which holds both a hedge and a PPA. Starbucks is buying a portion of the electricity generated by the plant under a 15-year corporate PPA, while BP is supplying a 12-year physical hedge. According to Cubico the PPA will cover 40% of the project’s output and the hedge 60%, meaning that most of the electricity from this project is not covered by a PPA.

Spotlight

Peter Amerongen is one of the fathers of net-zero homes. Here is his secret formula for insulating a super energy efficient home.

Spotlight

Peter Amerongen is one of the fathers of net-zero homes. Here is his secret formula for insulating a super energy efficient home.

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ENERGY

SoCalGas Among First Utilities in the Nation to Transition its Over-the-Road Fleet with Hydrogen Fuel Cell Electric Vehicles

SoCalGas | January 24, 2022

Southern California Gas Company (SoCalGas) announced that it took delivery of 23 Toyota Mirai hydrogen fuel cell electric vehicles (HFCEV), marking the company's first purchase of hydrogen-powered vehicles. The company plans to expand its fleet of HFCEVs to 50 next month, making SoCalGas among the first utilities in the nation to start transitioning to hydrogen. These HFCEVs are an important step for SoCalGas in decarbonizing its fleet and supports the company's Net Zero 2045 climate goal, which includes replacing 50% of its over-the-road fleet with clean fuel vehicles by 2025 and operating a 100% zero-emission fleet by 2035. View footage of the Toyota Mirai HFCEVs here. "California companies must work together in the fight against climate change," said State Senator Susan Rubio. "The transportation sector is one of the largest contributors of greenhouse gas emissions in California and these types of efforts will help the state meet its climate goals." Each vehicle in our light duty over-the-road fleet is driven an average of 10,000 miles per year. The zero-emissions Toyota Mirai HFCEVs have a driving range of 400 miles and since they run on hydrogen the only by-product is water. Transitioning some of our fleet to HFCEVs will help us reduce emissions, moving SoCalGas closer to our net zero goal and helping California reach carbon neutrality faster." Sandra Hrna, vice president of supply chain and operations support at SoCalGas "Longo Toyota is honored to partner with SoCalGas on their strategy to reduce emissions from their vehicle fleet and we are excited to help them with the acquisition of 50 new Toyota Mirai fuel cell electric vehicles," said Doug Eroh, president and general manager at Longo Toyota. "The Toyota Mirai is fueled with hydrogen and makes its own electricity on board while only emitting clean water from its tailpipe. We look forward to working with SoCalGas in the years to come on the acquisition and service of their clean vehicle fleet." The light-duty vehicle industry has started to shift towards zero emissions vehicles, currently dominated by battery EVs (BEVs) and complemented by hydrogen fuel cell electric vehicles. SoCalGas' recently released economy-wide technical analysis reveals that in the light-duty vehicle sector, BEVs and HFCEVs could address different use cases. For vehicles with longer range requirements or higher utilization needs, such as taxis, ride-share fleet, or SoCalGas' own fleet, HFCEVs could be cost competitive in the 2020s. Earlier this year, in partnership with Hyzon Motors, SoCalGas announced plans to deploy its first hydrogen-powered fuel cell electric utility truck. As part of the partnership, Hyzon will deliver a Class 3 commercial service body utility truck to SoCalGas in 2022. The truck is expected to reach a maximum power of 200 kilowatts, with a range of 300 miles and will be built on the existing chassis OEM used by SoCalGas, minimizing the updates needed for operations, servicing, and training. With the addition of the 50 Toyota Mirai HFCEVs, a third of SoCalGas' over-the-road fleet currently operates on clean fuels. The company is on track to achieve its goal of 50% by 2025. SoCalGas is actively engaged in more than 10 pilot projects related to hydrogen, including a partnership with Netherlands-based HyET Hydrogen on technology that could transform hydrogen distribution and enable the rapid expansion of hydrogen fueling stations for HFCEVs like the Toyota Mirai. The technology would allow hydrogen to be easily and affordably transported via the natural gas pipeline system, then extracted and compressed at fueling stations that provide hydrogen for HFCEVs. The transition to hydrogen is a prime example and yet another way SoCalGas is demonstrating its commitment to being the cleanest, safest, and most innovative energy company in the country. About SoCalGas Headquartered in Los Angeles, SoCalGas is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, and increasingly renewable gas service to 21.8 million consumers across 24,000 square miles of Central and Southern California. Gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment. SoCalGas' mission is to build the cleanest, safest and most innovative energy company in America. In support of that mission, SoCalGas is committed to the goal of achieving net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replacing 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills, and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra, an energy services holding company based in San Diego.

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SOLAR+STORAGE

Hydro Rein partners with Atlas Renewable Energy and ALBRAS to develop a self-generation solar energy project in Brazil

Hydro Rein | May 04, 2022

Hydro Rein, Atlas Renewable Energy and ALBRAS are in the process of forming a joint venture to design, build and operate a self-generation project through a solar power plant, which will be located in Paracatú , in the state of Minas Gerais, Brazil, which will have a planned total installed capacity of 438 MW. The project will provide long-term renewable energy to the primary aluminum plant in Albras. Hydro Rein and Atlas Renewable Energy are in the process of forming a joint venture to design and build the Boa Sorte solar power plant, which will be located in Paracatú, in the state of Minas Gerais, Brazil, and has a planned total installed capacity of 438MW. The project will provide long-term renewable energy to the primary aluminum plant in Albras. Construction of the Boa Sorte solar power plant is expected to start in the fourth quarter of 2022, and operation is expected to start in the fourth quarter of 2023. Total investments are estimated at US$320 million (100% basis). The project has been submitted to the competition authority (CADE) for approval. As part of the realization of the self-generation project, Albras signed a PPA (power purchase agreement) denominated in US dollars with Boa Sorte for an annual supply of 815 GWh from 2025 to 2044. This agreement covers 12% of Albras' annual electricity consumption. The Albras primary aluminum plant is located in the Brazilian state of Pará and is a joint venture formed between Hydro and NAAC (Nippon Amazon Aluminum Co. Ltd.). Albras is the largest producer of primary aluminum in Brazil, with an annual capacity of 460,000 tons, and it supplies national and international markets. The Boa Sorte solar power plant will include more than 800,000 bifacial modules, which will provide enough energy to avoid the emission of 61,500 tonnes of CO2 per year. About Atlas Renewable Energy Atlas Renewable Energy is a renewable energy generation company that has been developing, financing, building and operating renewable energy projects across America since early 2017. Atlas Renewable Energy includes an experienced team with the longest experience in the industry of solar energy in Latin America. The company is recognized for its high standards in the development, construction and operation of large-scale projects. Atlas Renewable Energy is part of Energy Fund IV, raised by Actis, one of the leading private investors in the energy sector. Atlas Renewable Energy's growth is focused on the region's most stable markets, using its proven development, marketing and structuring expertise to accelerate the clean energy transformation. By actively engaging with the community and stakeholders at the heart of its strategy, the company works every day to deliver a cleaner future. About Hydro Rein Hydro Rein was established in 2021 as part of Hydro's growth strategy in renewable energy. The company aims to become the preferred supplier of renewable energy and other energy solutions for industrial customers. Hydro Rein has a large portfolio of wind and solar projects in Brazil and the Nordic countries for the long-term supply of energy to Hydro and other industrial users. Hydro Rein also develops a range of energy solutions to help industries manage and optimize their energy consumption and off-grid storage.

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INDUSTRY UPDATES

LRS ACQUIRES LAKES DISPOSAL SERVICES, BOOSTING WASTE & RECYCLING REGIONAL FOOTPRINT IN NORTHERN ILLINOIS

LRS | May 16, 2022

LRS, the greater Midwest's leading independent waste diversion, recycling and portable services provider, today announced the acquisition of Grayslake, Ill.-based Lakes Disposal Services, an independent, family-owned waste and recycling provider serving residents and businesses in northern Illinois; financial terms were not disclosed and the acquisition is effective immediately. The acquisition expands LRS' northern Illinois footprint, adding nearly 2,000 commercial customers, and municipal services for residents in McHenry County, the Village of Wonder Lake, Village of Johnsburg, Village of Mettawa, Avon Township and large areas throughout Lake County. Founded by Tim and Janelle Petersen in 2008, the acquisition of Lakes Disposal complements LRS' October 2021 acquisition of numerous GFL assets, including 16 municipalities in far northern Illinois, owned previously by Prairieland Disposal and Recycling Services. "We welcome Tim, Janelle, and all Lakes Disposal employees and customers to the LRS family, and are excited to bring more growth and investment to our robust Chicagoland market, LRS continues to challenge the waste industry status quo, bringing much-needed local competition to help significantly lower the cost of Municipal Solid Waste and Recycling services, particularly at a time when many of our residential customers are struggling to make ends meet." -LRS President and Chief Executive Officer Alan T. Handley. The Petersen's and all Lakes Disposal employees will remain on with LRS to ensure a seamless transition and customer experience, Handley added. Lakes Disposal is LRS' sixth announced acquisition in 2022; other 2022 announcements include: Portage, Wisc.-based The Country Plumber; Topeka, Kan.-based Ditch & Associates; Rochester, Minn.-based Sunshine Sanitation; Chicago-based Auburn Disposal; and South Bend, Ind.-based Junoll Services. In 2021, the company amassed 22 acquisitions to complement its organic revenue growth across the nation's midsection. About LRS LRS is among the nation's leading independent waste diversion, recycling and portable services providers. Since 2013, LRS has specialized in delivering an exceptional customer experience for millions of residential and commercial customers across nine states: Illinois, Wisconsin, Iowa, Indiana, Michigan, Minnesota, Kansas, Arkansas and Tennessee. Diversified and growing, LRS also offers affordable roll-off container services, C&D recycling, street sweeping, portable restroom rentals, on-site storage and temporary fencing. LRS owns and operates 65 facilities and thrives on the passion of 2,100 full-time employees. The company provides safe, innovative, sustainability-driven services to clean and beautify the cities, neighborhoods, and communities it serves.

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