Apollo to acquire stake in renewable energy developer US Wind for $265 million

Economictimes | August 15, 2020

Apollo Global Management Inc said on Friday that it agreed to invest $265 million in offshore wind developer US Wind Inc, marking the private equity firm's first foray into one of the hottest areas of renewable energy development in the country. Apollo said its investment, which includes both debt and equity, will fund the construction of an offshore wind project off the coast of Maryland. Wind power is the largest source of renewable energy in the United States, generating about 7.3 per cent of the nation's electricity supply, according to the US Energy Information Administration.

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Ardagh Group's new solar energy across the Netherlands

Ardagh Group | October 07, 2022

Ardagh Group S.A., (inclusive of Ardagh Metal Packaging and Ardagh Glass Packaging) and its renewable energy partners Eneco and Zoncoalitie are delighted to announce the start of construction for three on-site solar projects in the Netherlands. The solar installations will supply renewable on-site generated electricity to Ardagh's Dongen, Moerdijk and Oss facilities and are part of Ardagh's strategy to use 100% renewable electricity by 2030. The Netherlands is the first country where Ardagh will supply all of its production facilities with on-site generated sustainable energy via large-scale solar energy installations, with plans to further roll out the technology with local energy partners across all regions. "It's an exciting time for Ardagh's renewable energy programme. These state-of-the-art solar installations will supply renewable electricity to all of our metal and glass facilities across the Netherlands, which will make a significant impact in reducing our carbon footprint." -Adam Koehler, Global Renewable Energy Programme Manager at Ardagh Group Ardagh used independent solar energy specialist Zoncoalitie to conduct an extensive technical commercial and feasibility assessment, plus a tender and award process, selecting Eneco to deliver the Netherlands installations. Ardagh is delighted to partner with Eneco, a leading energy company with its own plan to become climate neutral by 2035 in its own activities and the energy it supplies to customers. Approximately 24,700 panels will be installed across the three locations and will soon be able to generate approximately 12,677 MWh of renewable electricity each year. In 2020, Ardagh launched its Renewable Energy Programme to implement its strategy and oversee its renewable electricity activities. The company's strategy is built on a combination of on-site, near-site and off-site renewable electricity projects. In Europe, five on-site solar projects (in the Netherlands, Irvine, Scotland and Dublin, Ireland) will replace 15,000 MWh of electricity consumption from the grid, while avoiding the release of 6,050 tons of carbon emissions per year. This represents 1% of Ardagh's total electricity consumption in this region. About Ardagh Group Ardagh Group is a global supplier of infinitely recyclable metal and glass packaging for brand owners around the world. Ardagh operates 65 metal and glass production facilities in 16 countries, employing more than 20,000 people with sales of approximately $10bn.

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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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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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