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.

Spotlight

Today’s infographic comes to us from Kutcho Copper, and it dives into copper’s applications with a focus on those in renewable energy. Renewable energy systems consume approximately five times more copper than conventional power generation systems, making the metal essential for any successful transition to fossil fuel alternatives.

Spotlight

Today’s infographic comes to us from Kutcho Copper, and it dives into copper’s applications with a focus on those in renewable energy. Renewable energy systems consume approximately five times more copper than conventional power generation systems, making the metal essential for any successful transition to fossil fuel alternatives.

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ENERGY

Hover Energy and Task Contract Solutions Partner to Bring the Hover Wind-Powered Microgrid Renewable Energy Solution to the United Kingdom

Hover Energy | February 08, 2022

Hover Energy, LLC announced it has entered into an agreement with Task Contract Solutions Limited in which Task will be its exclusive partner in the sale, installation, and support of Hover Wind-Powered Microgrids in the United Kingdom. Hover and Task have been collaborating over the past year on several planned installations at exclusive, consequential sites, including projects for the UK Ministry of Defence. This agreement establishes a formal partnership and gives Task exclusive distribution and installation rights for the UK Market. The Hover Wind-Powered Microgrid features a combination of wind and solar energy generation. The centerpiece of the microgrid is Hover's patented 36kW wind turbine, which is roughly the size of a 10-foot shipping container. Installed in an array on the windward edge of a building's roof, the system's aerodynamic design draws in and accelerates wind that hits the building. A direct drive generator reduces friction and lowers the cut-in speed. An adjoining solar photovoltaic array complements the turbines, generating power during daylight hours. The energy captured by both sources is directed to an Integrated Energy Management System (IEMS), where the energy is combined, conditioned, and converted to three-phase AC power. The IEMS connects directly to the building management system. Excess power, such as unused power generated at night, can be stored in electrical batteries for later use. The Hover Wind-Powered Microgrid has the potential to offset 100% of a building's power consumption when combined with solar photovoltaic technology and electrical battery storage systems. Task has a track record of developing and delivering complex and challenging projects for public, military, and commercial clients across the United Kingdom, including the Reserve Army, BTFS, Spie Matthew Hall, Proctor & Gamble, CBRE, 2G Energy Ltd., and Openreach. Categories of work include renewable energy systems, specialist construction and digital installation projects, and both planned and routine maintenance programmes. Ian MacVicar, Managing Director of Task, commented, "Task is dedicated to transforming the way people and businesses think about their power supply. We are passionate in our ambition to help the UK make the big transition and ensure that renewable energy becomes the primary source of energy for the majority, not the few. Hover offers intelligent, groundbreaking technology and design which is perfectly suited for the UK commercial market. We are excited about our partnership with Hover. This new, green energy solution is a breath of fresh air, and we think it will be a game changer in the UK." We have been working alongside the Task team for quite some time and are impressed not only with the quality of their work, but with the character of their people. We believe that successful sustainable development projects must begin with sustainable relationships. Our skillsets blend brilliantly." Christopher Griffin, Hover's President and Co-Founder Hover Energy, LLC designs, develops, and deploys Wind-Powered Microgrids to accelerate the transition to renewable energy. Hover utilizes its global partnerships to help clients efficiently harness the power of nature and generate power where it's consumed. Achieving net zero is just the beginning. Task Contract Solutions Limited develops and delivers complex and challenging projects for public, military, and commercial clients across the UK. Task offers clients control over their future energy requirements and budgets by delivering intelligent, decentralized, renewable energy generation systems. Task also deploys specialist construction and digital installation projects, and manages planned and routine maintenance programmes across the UK.

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ENERGY

Veritone Joins SEPA and Utility Analytics Institute to Advance Collective Mission to Make Energy Delivery Cleaner, Cheaper & More Reliable

Veritone | December 07, 2021

Veritone, Inc., creator of aiWARE, a hyper-expansive enterprise AI platform, announced that it has joined the Smart Electric Power Alliance (SEPA) and the Utility Analytics Institute (UAI), leading industry organizations focused on the transformation of utilities. As a member, Veritone will add its strong AI leadership and deep machine learning expertise to help utility decision-makers solve complex challenges resulting from the rise of renewable energy sources, new legislation, climate change, and the global push towards decarbonization. Like many other industries, utilities’ decision-makers and organizations like SEPA and UAI recognize the game-changing capabilities of AI, machine learning, automation, and analytics. Particularly with the Federal Energy Regulatory Commission’s (FERC) Order No. 2222 fostering competition in the wholesale energy market taking effect February 2022, there is no better time than now for Veritone to join these forward-thinking organizations. With our AI-driven energy solutions, together, we can fast-track our collective mission to make power delivery greener, cheaper, and more reliable as the nation transitions to a decarbonized future. Sean McEvoy, SVP, Energy Solutions, Veritone. Globally, we are going through an energy transition, shifting from fossil-based energy production and consumption systems to renewable energy sources. Unreliable green energy sources, new forms of energy storage and energy supply, and demand imbalances, however, may impact customer satisfaction and company profitability. And with such exponential growth in power system complexity, utilities will find it increasingly challenging to maintain day-to-day reliability, as well as resilience to many types of grid disruptions. Veritone’s AI-powered energy solutions—built on its proven, open and future-proof aiWARE platform— help utilities and independent power producers increase reliability, decrease operational costs, and reduce carbon footprint by accurately predicting, synchronizing, optimizing, and controlling integrated distributed energy resources. Using a reinforcement learning approach, Veritone's modules continuously adapt and auto-retrain to make optimal decisions, even with a high number of possible constraints. System and hardware agnostic, Veritone offers its energy solutions on-premise, in a hosted environment, or as a service to give its customers the ultimate flexibility without sacrificing performance. About Veritone Veritone is a leader in enterprise artificial intelligence (AI) solutions. Serving organizations in both commercial and regulated sectors, Veritone’s software, services, and industry applications simplify data management, empowering the largest and most recognizable brands in the world to run more efficiently, accelerate decision making and increase profitability. Veritone’s hyper-expansive Enterprise AI platform, aiWARE™, orchestrates an ever-growing ecosystem of machine learning models to transform audio, video and other data sources into actionable intelligence. Through its robust partner ecosystem and professional and managed services, Veritone develops and builds AI solutions that solve the problems of today and tomorrow. About SEPA The Smart Electric Power Alliance (SEPA) is dedicated to helping electric power stakeholders address the most pressing issues they encounter as they pursue the transition to a clean and modern electric future and a carbon-free energy system by 2050. We are a trusted partner providing education, research, standards, and collaboration to help utilities, electric customers, and other industry players across three pathways: Electrification, Grid Integration, Regulatory and Business Innovation. Through educational activities, working groups, peer-to-peer engagements and advisory services, SEPA convenes interested parties to facilitate information exchange and knowledge transfer to offer the highest value for our members and partner organizations. About Utility Analytics Institute Utility Analytics Institute (UAI) enables utility transformation through analytics. Transforming into a data decision-based company is one of the most difficult transitions a utility will have to make to thrive in the new energy economy. It’s more than just managing massive amounts of data, implementing the right tools and technology, and people and process management. It’s ensuring you have proper change management processes in place to address cultural challenges, as well as data management and governance plans, and best practice and compliant security strategies in place. It’s implementing the best organizational structure for your utility, and hiring and retaining talented staff, plus so much more! UAI brings together the leading utilities who are serious about tackling these challenges and together we concentrate on utility analytics.

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SOLAR+STORAGE

Ameresco’s Solar Sites to Generate Nearly 11 MW of Clean Power for Rhode Island

Ameresco, Inc. | March 23, 2021

Ameresco, Inc. announced that they attained the commercial operation at its solar energy site in Tiverton; Rhode Island completed the construction in Cumberland, Rhode Island, its second site. Ameresco is a prominent clean technology integrator that specializes in energy efficiency and renewable energy. Ameresco’s Tiverton’s solar energy site, installed in a previous cornfield, contains more than 12,000 modules with an electricity generation capacity of 4.95 MW. By implementing these solutions, the Rhode Island Airport Corporation (RIAC) is set to save approximately $380, 000 in the first year itself. There are over 14,000 modules with an electricity generation capability of 5.71 MW at the solar site in Cumberland. It has accumulated an annual cost savings of approximately $410,000 in its first year. RIAC is the designated off-taker of the clean energy generated from both the Tiverton and Cumberland solar sites, according to a long-term agreement between RIAC and Ameresco. RIAC has a history of supporting a variety of environmental programs that are meant to curtail the adverse effects of airport operations. Solar sites at Cumberland and Tiverton have augmented their dedication to implementing reliable, cost-effective, and environmentally conscious solutions. Throughout the years, Cumberland has installed energy-efficient equipment in public buildings whereas Tiverton has launched local conservation and recycling commissions to raise awareness among the community members. Cumberland’s commercial operations as expected to be completed in April 2021. About Ameresco, Inc. Ameresco Inc. was founded in 2000. It is a key cleantech integrator and renewable asset developer, owner, and operator. Their works include energy efficiency, infrastructure upgrades, asset sustainability, and renewable energy solutions. Their clientele ranges from North America to the United Kingdom.

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