SOLAR+STORAGE
Canadian Solar | November 09, 2021
Canadian Solar Inc. announced that it was awarded 52 MWp for the solar PV project Caracoli in the recent public auction by Colombia's Ministry of Energy.
The Caracoli project is located in the Atlántico Region in northern Colombia. The energy awarded will be acquired by a pool of reputable off-takers and will start delivering clean energy from 2023 through an inflation-indexed, Colombian Peso-denominated, 15-year power purchase agreement. The solar PV project has already completed the consultation process with indigenous communities (Consulta Previa) and is expected to start construction by the second quarter of 2022.
This project represents Canadian Solar's second landmark achievement in Colombia, after the recent awarding of the country's first utility-scale, stand-alone 45 MWh battery storage project located in Barranquilla.
"This achievement reinforces Canadian Solar's leadership position in Latin America and solidifies our entry into the Colombian market. We are excited about the strong market fundamentals and growth opportunities in the Latin American markets. We seek to expand our diversified portfolio of solar PV and battery storage projects in this region and will continue to support the Colombian government's targets to accelerate the deployment of clean, renewable energy."
Dr. Shawn Qu, Chairman and CEO, Canadian Solar Inc.
About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery storage solutions, and developer of utility-scale solar power and battery storage projects with a geographically diversified pipeline in various stages of development. Over the past 20 years, Canadian Solar has successfully delivered over 59 GW of premium-quality, solar photovoltaic modules to customers across the world. Likewise, since entering the project development business in 2010, Canadian Solar has developed, built and connected over 6.1 GWp in over 20 countries across the world. Currently, the Company has around 400 MWp of projects in operation, nearly 6 GWp of projects under construction or in backlog (late-stage), and an additional 16 GWp of projects in pipeline (mid- to early- stage). Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006.
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SOLAR+STORAGE
White Pine Renewables | March 04, 2021
White Pine Renewables is pleased to announce the culmination of the Healdsburg Floating Solar Project. The task will convey clean energy to the City of Healdsburg, Calif., under a 25-year power buy arrangement. At 4.78 MW(dc) and sited on lakes at the City's wastewater treatment plant, the venture is the biggest floating solar task finished in the United States to date.
The power created by the task will cover around 8% of the City's absolute energy interest and is a significant piece of the City's arrangement to arrive at 60% environmentally friendly power before 2030. Moreover, siting the solar boards on the lakes tries not to utilize land for the task and will diminish dissipation and green growth development, profiting the encompassing grape plantations that depend on the treated water for water system.
The Healdsburg Floating Solar Project was developed and is operated by White Pine Renewables. "This project exemplifies what differentiates White Pine," said White Pine CEO Evan Riley. "We combined innovative technology and an efficient capital structure to provide long-term savings to the City of Healdsburg."
Noria Energy co-built up the venture with White Pine and Collins Electrical Company, Inc., a California-based development worker for hire, if establishment administrations. The Healdsburg project was finished in under a half year from acquirement to charging.
Terry Crowley, Utility Director for the City of Healdsburg, described the project as "a cornerstone of the City's long-term plan to save money on energy costs and provide City electric customers with 60% renewable energy." Crowley added that he "greatly appreciated the collaborative partnership between White Pine, Noria, and Collins Electrical to deliver the project safely, efficiently and in an extremely short period of time."
Noria's CEO Jon Wank noted that the Noria-White Pine partnership "leveraged Noria's experience in floating solar technology and White Pine's development experience to create a project that delivers low-cost renewable energy while creating environmental benefits."
While still a little bit of the by and large solar market, floating PV is turning out to be progressively mainstream as a result of its double land use reason and for the most part higher energy creation because of the cooling impacts of water and wind.
About White Pine Renewables
White Pine Renewables is a renewable energy development company that provides competitively priced, long-term PPAs to leading commercial, industrial and public-sector customers. Focusing on projects ranging from 1 to 20 MW(dc), White Pine originates, develops, finances and operates projects throughout the U.S., with key areas of focus in California and the Midwest.
About Noria Energy
Noria Energy is a leader in floating solar technology in the United States and Latin America. Since 2018, Noria has been dedicated to optimizing the design of solar PV systems guaranteeing affordable long-term power to clients and enabling them to transition to clean, renewable energy. Noria is currently developing 300+MW of solar projects serving wastewater treatment plants, industrial customers, hydroelectric powerplants, among others.
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ENERGY
Leeward Renewable Energy | January 11, 2022
Leeward Renewable Energy, LLC announced the company has successfully completed the full-scale repower of its Crescent Ridge Wind Project located in Tiskilwa, Illinois.
The 54.4 megawatt (MW) Crescent Ridge repower included decommissioning nine turbines, repowering 24 legacy turbines and constructing four new turbines. The upgrades utilize the latest Vestas technology, enhancing turbine capacity, reliability and performance, while reducing operating costs.
Wells Fargo served as coordination lead arranger, administrative agent, and collateral agent on the $92 million financing for the project, including a construction plus a five-year term loan, tax equity bridge loan, and a letter of credit facility, along with a commitment to provide tax equity. Concurrently with the completion of construction, the construction loan converted to a five-year term loan, and the tax equity bridge loan was discharged with proceeds from the funding of Wells Fargo’s tax equity commitment. Santander Bank, N.A. served as joint lead arranger.
The project will help Amazon meet its Climate Pledge commitment to reach net-zero carbon by 2040 and get one step closer to powering its operations with 100% renewable energy by 2025, 5 years ahead of the original 2030 target.
“We are pleased that our Crescent Ridge project is operational and are proud to have provided jobs and other economic benefits to the Tiskilwa community throughout the construction and repower process,” said Leeward VP of Project Management and Construction, Sam Mangrum. “I would like to thank the local landowners for their support and look forward to continue working closely with them in the years to come.”
This project gave Leeward the opportunity to work with multiple new and existing partners. We were thrilled to continue our strong relationship with Wells Fargo and Santander in financing the construction and ongoing operations. The respective commitments made by these established companies demonstrates their confidence in our technology and team to deliver clean, reliable energy.”
Chris Loehr, Chief Financial Officer at Leeward
About Leeward Renewable Energy
Leeward Renewable Energy, LLC is a leading renewable energy company that owns and operates a portfolio of 22 renewable energy facilities across nine states totaling approximately 2,000 megawatts of generating capacity. Leeward is actively developing new wind, solar, and energy storage projects in energy markets across the U.S., with 17 gigawatts under development spanning over 100 projects. Leeward is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada’s largest defined benefit pension plans with C$114 billion in net assets (as at June 30, 2021).
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