Robex Resources Inc | September 28, 2020
Robex Resources Inc. and Vivo Energy, which sells and distributes Shell and Engen branded fuels and lubricants in Africa, have reached an agreement for Vivo Energy to supply solar energy to the Nampala mine for a period of five to fifteen years. Christian Chammas, CEO of Vivo Energy, made the following comments about the transaction: “This project with Robex is Vivo Energy’s first contract with one of our commercial customers to supply fuel, combined with a hybrid solar energy solution. We believe that there are many advantages of our innovative partnership to provide a comprehensive energy solution to our commercial customers and we look forward to extending our offer to our current and future customers to help them reduce their costs and CO2 emissions.”
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).
Hydro Rein | May 04, 2022
Hydro Rein, Atlas Renewable Energy and ALBRAS are in the process of forming a joint venture to design, build and operate a self-generation project through a solar power plant, which will be located in Paracatú , in the state of Minas Gerais, Brazil, which will have a planned total installed capacity of 438 MW. The project will provide long-term renewable energy to the primary aluminum plant in Albras.
Hydro Rein and Atlas Renewable Energy are in the process of forming a joint venture to design and build the Boa Sorte solar power plant, which will be located in Paracatú, in the state of Minas Gerais, Brazil, and has a planned total installed capacity of 438MW. The project will provide long-term renewable energy to the primary aluminum plant in Albras.
Construction of the Boa Sorte solar power plant is expected to start in the fourth quarter of 2022, and operation is expected to start in the fourth quarter of 2023. Total investments are estimated at US$320 million (100% basis). The project has been submitted to the competition authority (CADE) for approval.
As part of the realization of the self-generation project, Albras signed a PPA (power purchase agreement) denominated in US dollars with Boa Sorte for an annual supply of 815 GWh from 2025 to 2044. This agreement covers 12% of Albras' annual electricity consumption.
The Albras primary aluminum plant is located in the Brazilian state of Pará and is a joint venture formed between Hydro and NAAC (Nippon Amazon Aluminum Co. Ltd.). Albras is the largest producer of primary aluminum in Brazil, with an annual capacity of 460,000 tons, and it supplies national and international markets.
The Boa Sorte solar power plant will include more than 800,000 bifacial modules, which will provide enough energy to avoid the emission of 61,500 tonnes of CO2 per year.
About Atlas Renewable Energy
Atlas Renewable Energy is a renewable energy generation company that has been developing, financing, building and operating renewable energy projects across America since early 2017. Atlas Renewable Energy includes an experienced team with the longest experience in the industry of solar energy in Latin America. The company is recognized for its high standards in the development, construction and operation of large-scale projects. Atlas Renewable Energy is part of Energy Fund IV, raised by Actis, one of the leading private investors in the energy sector. Atlas Renewable Energy's growth is focused on the region's most stable markets, using its proven development, marketing and structuring expertise to accelerate the clean energy transformation. By actively engaging with the community and stakeholders at the heart of its strategy, the company works every day to deliver a cleaner future.
About Hydro Rein
Hydro Rein was established in 2021 as part of Hydro's growth strategy in renewable energy. The company aims to become the preferred supplier of renewable energy and other energy solutions for industrial customers. Hydro Rein has a large portfolio of wind and solar projects in Brazil and the Nordic countries for the long-term supply of energy to Hydro and other industrial users. Hydro Rein also develops a range of energy solutions to help industries manage and optimize their energy consumption and off-grid storage.