ENERGY,INDUSTRY UPDATES
Enphase Energy, Inc | January 06, 2023
On Jan. 05, 2023, Enphase Energy, Inc., a worldwide energy technology organization and the leading provider of microinverter-based solar and battery systems in the world, announced that Enphase® product installers in Arizona have experienced increased deployments of Enphase Energy SystemsTM powered by IQ8TM Microinverters.
As per the U.S. Solar Market Insight study by Wood Mackenzie and the Solar Energy Industries Association (SEIA), residential solar deployments in Arizona have increased annually and are projected to reach 206 MW in 2023, demonstrating a growth of 20 percent over the previous year. In addition, residential battery deployments in Arizona are predicted to nearly quadruplicate by 2026's end, according to the most recent U.S. Energy Storage Monitor study by the Wood Mackenzie and Energy Storage Association.
Enphase's unique IQ8-based systems can deliver Sunlight BackupTM functionality even in the absence of a battery during a power outage. When coupling Enphase IQTM Batteries with IQ8 Microinverters, there are no size limitations for homeowners who desire battery backup. With the Sunshine Jump StartTM feature, IQ8 Microinverters can restart a home energy system using just sunlight following a prolonged grid interruption that completely depletes the battery. This feature also eliminates the need for a manual restart of the system, which gives homeowners the greater assurance of energy resilience. With a 25-year limited warranty, Enphase IQ8 solar microinverters are built to last.
About Enphase Energy, Inc.
Enphase Energy, a global energy technology company headquartered in Fremont, California, is the world's leading provider of microinverter-based solar and battery systems that enables users to harness the sun to make, use, sell, and save their own electricity—and control it all with a smart mobile application. The company restructured the solar industry with its microinverter-based technology, and it builds all-in-one battery, solar, and software solutions.
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ENERGY
Onward Energy | January 20, 2023
Onward Energy recently announced that the company had completed the previously disclosed acquisition of Global Atlantic Financial Group's 1,171 MW operating solar portfolio. The acquisition comprises operating solar assets in eight states and positions the company as one of the most extensive operators of solar assets in the United States. With the completion of this acquisition, Onward will own and operate more than 4.3 GW of renewable energy in twenty-two states. The deal represents the largest renewable investment in Onward's history and diversifies the company's 6 GW energy generation portfolio.
Chief Executive Officer of Onward, Steve Doyon, said "Onward Energy is a committed partner in the energy transition and this acquisition marks an important step in our continued leadership towards a future powered by clean energy. We are grateful to the Global Atlantic team for their collaboration throughout this process."
(Source- Cision PR Newswire)
Concurrently with the closure of the deal, Onward secured long-term financing from KeyBank, which acted as the administrative agent for a bank group of relationship lenders comprising NatWest, Commerzbank, CoBank, ING, and Truist. During the deal, Global Atlantic had Onpeak Capital LLC as its financial advisor and Mayer Brown LLP as its legal advisor. Milbank LLP served as Onward's legal counsel.
About Onward Energy
Onward Energy is an independent company that generates and operates about 6 GW of renewable energy from solar, wind and gas generation projects in the U.S. It is one of the national leaders in developing clean, renewable energy. The company is a pioneer in the transition into clean energy, investing in the next generation of clean, reliable technologies that will expedite the customers and communities to meet their decarbonization objectives faster.
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ENERGY
Avantus | February 13, 2023
Avantus (formerly 8minute), an industry leader in low-cost clean energy, recently celebrated the groundbreaking and ongoing development of the Galloway 2 Solar Project based in Concho County, Texas. Local business leaders and solar workers discussed the project's economic benefits and lasting impact on the community with industry and community leaders.
Galloway 2 will create more than 250 peak construction jobs and produce more than $18 million in local property taxes, assisting essential local services such as education, the county hospital, and public safety. More than half of these funds will directly help the Paint Rock School District, less than five miles from the project site. Additionally, the project will serve as a dedicated 147 MWdc / 110 MWac resource for the Texas energy grid, generating enough low-cost sustainable electricity to supply 60,000 Texans with power on completion.
BASF Corporation is purchasing the majority of the project's energy to meet energy needs at its Freeport, Texas site. Allianz Capital Partners owns Galloway 2, with Avantus holding a minority stake. This is the company's second utility-scale project development in the Paint Rock area.
Motivated by an expanding team in Austin, Avantus has brought 600 MWdc of solar energy online and is developing more than four gigawatts (GW) of solar and 12 GWh of energy storage across Texas. The company's portfolio will boost Texas' energy sector and local economies. Its pipeline of more than 90 utility-scale solar and energy storage projects in Texas and the Southwest represents over $70 billion in investments. It can provide reliable, low-cost power for over 30 million people daily.
About Avantus
Avantus (previously 8minute) is a company based in Los Angeles, California, shaping the future by making accessible, reliable, clean energy a global reality. The company has developed the nation's largest solar cluster and the first plant to beat the price of fossil fuels, demonstrating its leadership in next-gen solar energy. By pushing the limits of existing technologies, it will construct one of the biggest smart power plant portfolios with integrated storage, capable of supplying 30 million people with low-cost, zero-emission energy 24/7. Through its unrelenting pursuit of excellence, the firm is decarbonizing the planet at the gigaton scale and bringing the benefits of clean energy to everyone
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