SUSTAINABILITY,STRATEGY AND BEST PRACTICES
Leeward Renewable Energy | November 29, 2022
Leeward Renewable Energy (“LRE” or “Company”) announced that it has closed approximately $420 million in construction to term financing from MUFG Bank Ltd. and a $195 million tax equity commitment from Wells Fargo for its Big Plain Solar Facility located in London, Ohio and its Oak Trail Solar Facility located near Moyock, North Carolina.MUFG served as the Green Loan Structuring Agent, Coordinating Lead Arranger and Administrative Agent for the construction to term financing, arranging financing commitments from eight financial institutions and Export Development Canada (EDC). The debt was issued under the Green Loan Principles, which aim to facilitate and support environmentally sustainable economic activity.
“We are pleased to have secured financing for our Big Plain and Oak Trail projects, marking another significant milestone in the development of our solar energy portfolio, These agreements demonstrate the continued confidence financial institutions hold in our project portfolio and performance as we continue to execute on our contracted 2022 – 2023 pipeline. We appreciate the continued support from each of our participating financial institutions, particularly under terms that help advance and enhance LRE’s own environmental and social initiatives.”
-Chris Loehr, Senior Vice President of Finance.
MUFG is proud to have partnered with Leeward Renewable Energy on another important project, said Beth Waters, Managing Director, Project Finance, MUFG. Supporting our clients in building sustainable and renewable energy sources is a crucial tenet of our business, and we look forward to working closely with Leeward on future projects.
In 2021, Wells Fargo established its Institute for Sustainable Finance, which supports clients and communities to accelerate the transition to an equitable, low‑carbon economy, including the deployment of $500 billion in financing to sustainable businesses and projects by 2030. Approximately $68 billion in sustainable finance was deployed in 2021.
We are proud to provide tax equity financing to Leeward for this solar portfolio,” said Samantha Buechner, director in Wells Fargo’s Renewable Energy & Environmental Finance group. “We look forward to continuing to support Leeward and the transition to a low-carbon economy.
The Big Plain and Oak Trail Solar facilities are currently under construction and, when completed, will provide a combined 296 megawatts (MW) of renewable energy to Verizon Communications under a long-term power purchase agreement. Both projects are expected to reach commercial operation by mid-2023.
About Leeward Renewable Energy, LLC
Leeward Renewable Energy (LRE) is a leading renewable energy company that owns and operates a portfolio of 24 renewable energy facilities across nine states totaling approximately 2,500 megawatts of generating capacity. LRE is actively developing and contracting new wind, solar, and energy storage projects in energy markets across the U.S., with 1.9 gigawatts contracted and 20 gigawatts under development and construction, spanning over 100 projects. LRE is committed to providing long-term, sustainable energy solutions across all its projects that benefit its community partners while protecting and enhancing the environment. LRE is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada’s largest defined benefit pension plans with $121 billion in net assets (as of December 31, 2021). For more information, visit www.leewardenergy.com.
Fisker and Wallbox | September 26, 2022
Fisker Inc. (NYSE: FSR) ("Fisker") – passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions – and Wallbox (NYSE: WBX), a leading provider of electric vehicle and energy management solutions worldwide, name Wallbox as Fisker's global partner for home EV charging solutions Fisker and Wallbox are partnering to offer Fisker EV owners Wallbox home EV chargers for purchase through the Fisker website in the U.S., Canada, and European launch markets. The Pulsar Plus, Wallbox's best-selling charger worldwide and one of the smallest smart universal EV chargers, will be available to the North American market through Fisker.
In Europe, Fisker will be the first OEM to offer Wallbox's Pulsar Max charger, providing localized charging solutions to drivers in seven European countries. Like Pulsar Plus, Pulsar Max delivers top charging speeds and offers the full Wallbox energy management suite, including solar charging, so users can enjoy their EVs to the fullest.
Both chargers display customized Fisker and Wallbox logos and can be installed in homes, offices, and multi-unit dwellings to provide straightforward and efficient charging.
"Fisker is laser-focused on giving our customers simple and intuitive technology combined with clever design to make owning an EV easier. Together with Wallbox, we are providing class-leading, competitively priced chargers for Fisker owners, "Wallbox's track record of delivering well-designed, innovative, and dependable charging systems on a global scale makes the partnership a perfect fit for our customers and our business."
-Chairman and CEO Henrik Fisker
Making home charging accessible is key to accelerating the transition to EVs globally, and partnering with Fisker will allow us to support more drivers as they make the transition, said Douglas Alfaro, General Manager of Wallbox North America. There is a natural alignment between our two brands, so we are excited to announce our partnership with Fisker.
Fisker and Wallbox also plan to offer home installation services provided by Wallbox in Europe. In the U.S. and Canada, installation services will be provided by COIL, a recent Wallbox acquisition.
Wallbox Pulsar Plus smart chargers will be available to Fisker Ocean reservation holders starting November 2022 in the U.S. and Canada. Wallbox Pulsar Max smart chargers will be available to Fisker Ocean reservation holders starting November 2022 in our European launch markets: Austria, Denmark, France, Germany, Norway, Sweden, and The United Kingdom. Pricing to be announced.
The Fisker Ocean, Fisker's ground-breaking all-electric SUV, is available in three trim levels: Extreme, Ultra, and Sport. The top trim Fisker Ocean Extreme travels 350 miles1 on a single charge, with dual-motor, all-wheel-drive, three driving modes, Revolve 17.1" rotating screen, SolarSky roof, California Mode, Smart Traction, and many first-to-market safety features, including the world's first digital radar, all for $68,9992 in the U.S.
Production of the Fisker Ocean is on track for November 17, 2022, at a carbon-neutral factory in Graz, Austria. Deliveries to customers will begin shortly after.
About Fisker Inc.
California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by the vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world's most sustainable vehicles. To learn more, visit www.FiskerInc.com – and enjoy exclusive content across Fisker's social media channels: Facebook, Instagram, Twitter, YouTube, and LinkedIn.
Wallbox is a global company, dedicated to changing the way the world uses energy in the electric vehicle industry. Wallbox creates smart charging systems that combine innovative technology with outstanding design and manage the communication between vehicle, grid, building and charger. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public and public use in more than 100 countries. Founded in 2015, with headquarters in Barcelona, Wallbox's mission is to facilitate the adoption of electric vehicles today to make more sustainable use of energy tomorrow. The company employs approximately 1,100 people in Europe, Asia, and the Americas.
STRATEGY AND BEST PRACTICES, ENERGY
Yotta Energy | September 13, 2022
As the Inflation Reduction Act increases investments in and deployments of climate tech, Yotta Energy is debuting three new products that will not only propel the renewable energy industry forward by providing simplified solar, storage, and electric vehicle technologies but also position the company as a single, one-stop provider for clean energy services for commercial properties.The company’s new solutions include the new Yotta DPI-208 and DPI-480, a native 3-phase microinverter for commercial solar and storage applications; Yotta EV a line of commercial EV chargers offering a simplified level 2 charging experience ideal for fleets; and Yotta REV a solar-powered EV Charging Station that can be deployed in less than 48 hours and deliver up to 510 miles of solar-powered charging daily and is grid optional.
“With the e-mobility market projected to grow to more than $1.5 trillion by 2028, we believe that the future of EV charging, solar, and energy storage will be synergistic for businesses,To meet this demand and to strengthen the existing grid, Yotta is rolling out a suite of products, including commercial EV chargers and rapid EV charging solutions, to support these electrification goals and create a one-stop shop for all of our customers’ renewable energy needs. By introducing these solutions to the market, we are creating an ‘Energy Made Simple’ ecosystem.”
-Omeed Badkoobeh, CEO of Yotta Energy.
Developed to meet the rapidly growing market demand, all three products will be commercially available in Q1 2023 for installation throughout the continental United States and are built to deliver a higher return on investments (ROI) for customers wanting to deploy solar and electric vehicle technologies. In addition, because the electric vehicle charging stations use solar power, they are eligible for incentives under the Inflation Reduction Act.
Yotta DPI-208, DPI 480 (Dual Power Inverter)
Yotta’s new DPI line of 3-phase micro inverters that can accommodate up to four High-Capacity PV Modules, each up to 525W+. The Dual Power Inverter also integrates directly with Yotta’s SolarLEAF Energy Storage Technology and is UL-1741 (SA) compliant. This utility-interactive microinverter has Reactive Power Control (RPC) technology that exceeds recent NEC Rapid Shutdown requirements. Yotta’s DPI can be installed 300 percent faster than other products on the market and has a maximum continuous output of up to 1800VA. Micro-inverters are a safe bet over high-voltage string inverters and eliminate the risk for DC arc faults.
Yotta EV (Commercial EV Charger)
Yotta’s commercial line of EV chargers include the single port and dual port charger designed for ease of installation, functionality, and reliability. These commercial charging solutions are rated at 48A (11.5kW) but can be adjusted to 40A, 32A, and 16A to accommodate more chargers into existing electrical infrastructure saving on costly upgrades. The single charger can be wall mounted or pedestal mounted using Yotta’ custom mounting solution. The dual charger comes with a 4.3” full LCD and robust mount with retractable cord system. Using Wifi or 4G, the chargers seamlessly connect to Yotta’s software management platform to reduce demand charges alongside solar+storage. By combining EV charging installation with solar+storage installation, end customers get the best value from a comprehensive solution.
Yotta REV (Solar Powered EV Charging Station)
REV is an integrated, scalable charging solution designed around solar production capacity that can be grid-connected or operate completely off-grid. REV has an East-West bifacial panel design that optimizes direct and indirect sunlight for maximum solar energy optimization. The charger is always connected and monitored via 4G or satellite and is designed to work year-round in all weather conditions due to Yotta's patented core battery thermal technology.
This customizable solar-powered EV station has the ability to be deployed in remote, off-grid locations as well as within urban areas because of its 48-hour rapid deployment. Users have access to between 240 and 510 miles of solar charge daily and 50 to 300 kWh battery capacity. REV also qualifies for the recent Inflation Reduction Act incentives with its combination of solar + storage + e-mobility charging that utilizes Yotta’s power conversion and solar system design. Each REV station has a 10-year warranty and is operated via a remote fleet monitoring system.
“Our goal was to create the most aesthetic products that make solar energy extremely easy to use and functional, To develop each of these products, we leaned on exhaustive customer feedback and user experience of consumers and businesses considering the purchase of EVs, needing to meet an increased demand for electricity, or seeking to reduce greenhouse gas emissions. This launch establishes Yotta as the single, go-to resource for clean energy products as the company grows and transitions into the e-mobility space.”
-Emilio Collado, Head of Design at Yotta Energy.
Beyond releasing these three new solutions, Yotta recently announced an award of $1.23 million from the California Energy Commission (CEC) to develop solar and energy storage technologies for an underserved community in Santa Ana, California. Yotta will also be participating in the RE+ event and will be exhibiting at booth #3648.
About Yotta Energy
Headquartered in Austin, Texas, Yotta Energy is delivering a green future with ‘Energy Made Simple’ solutions that incorporate solar, energy storage, and electric vehicle charging technologies into commercial buildings. Yotta has developed a unique PV-Coupled™ architecture, a smart energy storage solution designed to scale with rooftop solar PV projects effortlessly, in addition to a number of electric vehicle charging products to create a holistic ecosystem of renewable energy technologies. Yotta's technology features advanced thermal management to maintain an optimal working temperature even under extreme outdoor conditions. As an integrated software plus hardware solution, Yotta also helps address grid outages by enhancing grid resilience and reliability. Yotta’s technology allows for a much lower total installation cost for rooftop solar-plus-storage and EV charging infrastructure than that available by any other current providers today. Learn more at www.yottaenergy.com.