Australia can be powered 100% by renewables by early 2030s, says Garnaut

RenewEconomy | April 29, 2019

Leading economist and climate change policy expert Professor Ross Garnaut says that Australia could be powered 100 per cent by “intermittent” renewables by the early 2030s, and have a grid that is both reliable and secure and cheaper than it is now. In the third of a series of six public lectures being delivered by Garnaut in the lead up to the next election, Garnaut says a grid powered by wind and solar, and backed by storage and demand management, could be achieve quite quickly, but it would require the “train wreck” of regulatory failures to be fixed. “I now have no doubt that intermittent renewables could meet 100 per cent of Australia’s electricity requirements by the 2030s, with high degrees of security and reliability, and at wholesale prices much lower than any experienced in Australia over the past decade,” Garnaut says in his talk last week at the University of Melbourne. “More importantly, I now have no doubt that with well designed policy support, firm power in globally transformative quantities could be supplied to industrial locations in each State at globally competitive prices.

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Wind Turbine Range Compatible with our onshore wind product portfolio, including a range of rotor diameters and tower height helping to improve site economics Global Wind Energy Council, there was over 360,000 MW of installed capacity across the globel

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Wind Turbine Range Compatible with our onshore wind product portfolio, including a range of rotor diameters and tower height helping to improve site economics Global Wind Energy Council, there was over 360,000 MW of installed capacity across the globel

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SOLAR+STORAGE, STRATEGY AND BEST PRACTICES

Quinbrook and Primergy Solar Partner with APG on Gemini Solar + Storage Project

Quinbrook and Primergy Solar | October 17, 2022

Quinbrook Infrastructure Partners (“Quinbrook”), a specialist investment manager focused exclusively on the new infrastructure needed for the energy transition, and its portfolio company Primergy Solar (“Primergy”) announced today the sale of a minority equity stake in its US$1.2 billion Gemini Solar + Storage project outside of Las Vegas to APG, the largest pension asset manager in the Netherlands. APG has agreed to acquire a 49% equity ownership in the project on behalf of its pension fund client ABP. Earlier this year, Quinbrook and Primergy began seeking equity partners for Gemini, a 690MWac solar plus 1,416 MWh battery energy storage facility. APG was selected by Quinbrook and Primergy following the receipt of multiple offers from a diverse group of prospective investors ranging across the industrial and financial investor landscape. APG is an experienced investor in US renewables and has several direct investments in utility-scale solar and storage assets in the US. Gemini will be APG’s largest single solar + storage investment to date. Once complete and operational in 2023, Gemini is expected to generate enough clean energy to power more than 400,000 homes during peak periods and displace 1.5 million metric tons of CO2 annually. Gemini is currently the largest solar + storage project under construction in the US and recently closed a record breaking US$1.9 billion tax equity and debt financing led by Bank of America, Truist, KeyBanc, MUFG, and NORD/LB. Truist Securities also advised Quinbrook and Primergy on the transaction. David Scaysbrook, co-founder and Managing Partner of Quinbrook commented, “We are very excited to welcome APG as a partner to Quinbrook and Primergy as we advance construction of such a milestone project for US clean energy. Given the scale and impact of Gemini, we felt APG was an exemplary partner for us that is differentiated by its sophisticated approach to the Gemini project and to the US renewables market more generally. Our Primergy team will continue to manage the construction and operational phases of Gemini with some exciting milestones coming up as the mammoth Gemini Project takes shape.” “The size, innovative integration of battery storage and siting on federal lands makes Gemini one of the most sophisticated clean energy projects ever developed. We are thrilled that APG, an experienced US renewables investor, is confident in our team’s capabilities to continue to build, and then to operate and maintain one of the largest solar plants ever constructed. Gemini is one of the first large-scale projects to approach clean energy development in a holistic way that successfully integrates ecosystem management and a commitment to local partnerships as well as delivering numerous other ESG related benefits. Together with Quinbrook, we look forward to partnering with APG in delivering a monumental clean power project for Nevada.” -Ty Daul, CEO of Primergy Solar Steven Hason, Managing Director of Americas Real Assets for APG, stated “As a responsible investor, we are always looking for infrastructure investments that bring long-term financial returns for our pension clients and that have positive environmental and social impacts. This transaction represents an ideal opportunity to invest in a state-of-the-art energy project that will provide clean, renewable electricity for Nevada. We look forward to working with our partners who share our long-term investment goals with regard to this critical infrastructure asset.” About Quinbrook Quinbrook Infrastructure Partners (http://www.quinbrook.com) is a specialist investment manager focused exclusively on renewables, storage and grid support infrastructure needed to drive the energy transition in the US, UK and Australia. Quinbrook is led and managed by a senior team of power industry professionals who have collectively invested c.USD 8.2 billion of equity in energy infrastructure assets since the early 1990s, representing a total enterprise value of c.USD 28.7 billion or 19.5 GW of power supply capacity. Quinbrook has completed a diverse range of direct investments in both utility and distributed scale onshore wind and solar power, battery storage, reserve peaking capacity, biomass, fugitive methane recovery, hydro and flexible energy management solutions in the US, UK, and Australia. Quinbrook is currently developing and constructing some of the largest renewables and storage infrastructure projects ever undertaken in the US, UK, and Australia. About Primergy Primergy is a developer, owner and operator focused on both distributed and utility scale solar PV and battery storage projects in North America with portfolios of over 8 GW of solar and battery energy storage projects in development, construction and operations in 17 different states. Primergy features a diverse and talented team with decades of experience in renewables project development, financing, construction and operations. Primergy is a portfolio company of Quinbrook Infrastructure Partners and represents Quinbrook’s principal solar and solar plus energy storage investment platform in North America. About APG APG is the largest pension provider in the Netherlands. With approximately €558 billion in AUM, APG invests on behalf of Dutch pension funds and their 4.8 million participants. In addition to asset management, APG provides executive consultancy, pension administration, pension communication and employer services. APG has a global presence with offices in Heerlen, Amsterdam, Brussels, New York, and Hong Kong, as well as satellite sites in Shanghai and Beijing. APG has been an active infrastructure investor since 2004, investing over €17.0 billion to date. APG's investments include assets within power & utilities, energy, telecommunications, and transport infrastructure. APG's Global Infrastructure team is comprised of 40 investment professionals. For more information, visit: https://apg.nl/en.

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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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SOLAR+STORAGE, STRATEGY AND BEST PRACTICES

Silicon Ranch Corporation and SOLARCYCLE Partner to Advance Solar Recycling, Bolstering U.S. Supply Chain

SOLARCYCLE | September 20, 2022

Silicon Ranch Corporation, one of the nation’s largest independent power producers, and SOLARCYCLE, a tech-driven solar recycling platform, announced a partnership to process end-of-life solar modules from Silicon Ranch projects through SOLARCYCLE’s advanced, high-recovery recycling platform. SOLARCYCLE’s cutting-edge approach to module recycling recovers approximately 95% of solar panel value, which can be returned to the supply chain and used to manufacture new panels.With an operating portfolio of more than 145 solar power facilities across 15 states, Silicon Ranch is SOLARCYCLE’s first utility-scale partner. The partnership between the two companies will allow SOLARCYCLE to establish a model for recycling solar materials at the utility scale, the largest segment of the solar market. The alliance comes at a critical time, as the recently passed Inflation Reduction Act is expected to accelerate demand for both solar energy and a domestic solar supply chain. The partnership will help fuel the growing U.S. solar manufacturing industry with a domestic supply of recycled materials essential to the production of new solar panels, including glass, silicon, and valuable metals such as silver, copper, and aluminum. Recent research by the National Renewable Energy Laboratory found that by 2040, for certain materials, recycling can meet 25-30% of domestic solar manufacturing needs in the United States. “As the long-term owner of every project in our portfolio, we at Silicon Ranch are deeply committed to our relationships and responsibilities in the communities we serve. These responsibilities include end-of-life equipment management, Embracing this opportunity to pioneer recycling and re-use processes at scale with SOLARCYCLE is a significant step in meeting these responsibilities. This partnership supports our commitments to advance domestic solar manufacturing, a circular solar economy, and economic development opportunities in communities across the country. We encourage others in the industry to join us in this meaningful endeavor.” -Reagan Farr, Silicon Ranch President and CEO. Silicon Ranch continues to widen its scope in the solar industry through its holistic Regenerative Energy® approach to project design, construction, and land management, as well as its recent acquisition of carbon solutions provider Clearloop. The partnership with SOLARCYCLE will further boost Silicon Ranch’s mission to bring economic development opportunities and low-cost carbon solutions to communities across the country. SOLARCYCLE’s team is taking what we learned in the solar, sustainability, and recycling industries and applying it to our tech-driven recycling solutions. We know that scale matters in order to be able to drive costs down and bring quality up,” said Suvi Sharma, CEO and Co-Founder of SOLARCYCLE. “We are thrilled that our partnership with Silicon Ranch–an innovative leader in bringing solar to scale sustainably and responsibly–will help us make solar across America fully sustainable.” SOLARCYCLE is currently the only dedicated technology-based recycling company for the solar industry. The company focuses on recycling solar panels to obtain the maximum amount of materials to go back into the supply chain, and help to build a circular economy for solar. Launched earlier this year, the company is establishing a state-of-the-art solar panel recycling center, which will open in Q4. Silicon Ranch pioneered utility-scale solar in the Southeast with the first large-scale solar projects in Tennessee, Georgia, Mississippi, Arkansas, and Kentucky. Notably, SOLARCYCLE is the latest partnership supporting domestic infrastructure secured by Silicon Ranch. In just the last six months, the company has announced new agreements with both FirstSolar and Nextracker to improve the carbon footprint of its module and tracker supply, respectively, while supporting additional investment in US manufacturing capabilities, and reducing volatility and logistics risk throughout the solar lifecycle. In turn, these partnerships collectively increase Silicon Ranch’s ability to deliver on designing, building, and managing a growing base of solar ranches across the country. The company has successfully commissioned every project it has contracted since its inception and has further distinguished itself through its commitment to own and operate each project in its portfolio for the long term. Earlier this year, Silicon Ranch completed a $775 million equity raise led by Manulife Investment Management. About Silicon Ranch Corporation Founded in 2011, Silicon Ranch is a fully integrated provider of customized renewable energy, carbon, and battery storage solutions for a diverse set of partners across North America. The company is one of the largest independent power producers in the country, with a portfolio that includes more than five gigawatts of solar and battery storage systems that are contracted, under construction, or operating across the U.S. and Canada. Silicon Ranch owns and operates every project in its portfolio and has maintained an unblemished track record of project execution, having successfully commissioned every project it has contracted in its history. In recognition of its holistic approach to land management, which the company has trademarked Regenerative Energy®, Silicon Ranch was named 2020’s “Most Forward-Thinking” company by Solar Power World. In 2021, Silicon Ranch acquired Clearloop, which helps businesses of all sizes reclaim their carbon footprint with a direct investment in building new solar projects while expanding access to clean energy. To learn more, visit siliconranch.com, regenerativeenergy.org, and clearloop.us. Follow Silicon Ranch on Facebook, Instagram, Twitter, and LinkedIn. About SOLARCYCLE, Inc. SOLARCYCLE, Inc (www.SOLARCYCLE.us) is a technology-driven platform designed to maximize solar sustainability by offering solar asset owners a low-cost, eco-friendly, comprehensive process for recycling retiring solar panels and technologies and repurposing them for new uses. The company’s proprietary technology allows it to extract over 95% of the valuable metals such as silver, copper, silicon, low-iron glass and aluminum. SOLARCYCLE was founded in 2022 by experts in solar technology, recycling and sustainability to accelerate build-out of the circular economy for solar and renewables.

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