SOLAR+STORAGE

Broad Reach Power Brings Two 100-Megawatt Battery Storage Projects Online in Central Texas

Broad Reach Power | November 03, 2021

Broad Reach Power LLC, an independent power producer based in Houston which owns a 21-gigawatt (GW) portfolio of utility-scale wind, solar and energy storage power projects across the United States, today announced its first two transmission-level projects, North Fork and Bat Cave, are online and placed in service with ERCOT. Each project is a 100-megawatt (MW)/100-megawatt-hour (MWh) Greenfield battery storage resource located in Central Texas. Broad Reach now has 300 MW of dispatchable storage resources in ERCOT improving the reliability of the ERCOT system.

“The demand for new power generation in Texas, including wind and solar generation, is accelerating. Battery storage is a critical component in supplying affordable, clean power, while also enhancing Texas grid reliability. Bringing these two projects into service advances Broad Reach’s commitment to developing key energy infrastructure in Texas.”

Steve Vavrik, Managing Partner & Chief Executive Officer, Broad Reach Power

Last fall, Broad Reach announced its plan to invest more than $100 million in the North Fork and Bat Cave projects. Located in Mason and Williamson Counties in Texas, the sites operate alongside Broad Reach’s expanding portfolio of utility-scale battery storage plants across Texas.

About Broad Reach Power
Broad Reach Power is the leading utility-scale storage platform in the United States. Based in Houston, Broad Reach is backed by leading energy investors EnCap Investments L.P., Yorktown Partners and Mercuria Energy. The company owns a 21 GW portfolio of utility-scale solar and energy storage power projects in Montana, California, Wyoming, Utah and Texas which give utilities, generators and customer’s access to technological insight and tools for managing merchant power risk so they can better match supply and demand.

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SOLAR+STORAGE

Nelnet Acquires Solar Construction Firm GRNE Solutions

Nelnet | July 06, 2022

Nelnet (NYSE: NNI) announced a controlling investment in affiliates of GRNE Solutions, LLC (GRNE), known as GRNE Solar, a leading Midwest solar engineering, procurement, and construction (EPC) firm. In addition, Nelnet acquired certain solar assets from an affiliate of GRNE, some already generating power and others currently being constructed. The transaction closed July 1, 2022. GRNE designs and installs residential, commercial and utility-scale solar systems in Illinois, Indiana, Iowa, Nebraska, Missouri and soon in Colorado. Its solar projects typically generate between 1 megawatt (MW) to 5 MWs of power. GRNE also offers battery backup, electric vehicle charging, energy monitoring, and operations and maintenance services. Based in Palatine, Ill., and Lincoln, Neb., GRNE was established in 2012 by Jess Baker and Eric Peterman. The co-founders will continue to lead GRNE and retain a minority ownership interest in the company. Today, GRNE has grown to more than 80 employees in seven office locations in their service area. "We are excited to partner with Jess, Eric and the GRNE team to accelerate their growth plans and our diversification into solar development, The GRNE team has earned a strong reputation in the solar industry for their culture, values and high-quality execution and construction management. Together, we will create a unique solution in the renewable space, including EPC services, financing solutions and subscription management." -Scott Gubbels, Nelnet executive director of tax and renewable energy. Nelnet is a diversified and innovative company, which includes a brand dedicated to renewable energy offerings and solutions, Nelnet Renewable Energy. Through tax-equity investing, its tax co-investing platform, community solar subscription and campus solar development solutions, Nelnet Renewable Energy provides significant value to its partners and customers within various industries. Since its initial investment in 2018, Nelnet Renewable Energy has expanded its solar investment portfolio, including with co-investors, to more than $240 million in more than 200 solar projects. In addition, Nelnet Renewable Energy acquires and manages thousands of subscribers for our community solar development partners. "This acquisition presents an outstanding opportunity for the growth of GRNE and for Nelnet's continued expansion into the renewable energy space. With Nelnet's proven track record for growing and scaling business as well as GRNE's industry expertise, we will continue to accomplish amazing things. Solar energy is a key component to accomplishing the energy goals of the future, and we are proud to be part of the solution," -Jess Baker, co-founder and president of GRNE Solar. This acquisition combines two complementary businesses that understand the critical need for renewable energy in the future. GRNE brings more than a decade of solar engineering and construction experience and will be able to leverage Nelnet's years of customer service expertise, financial strength, and asset management experience to fulfill its increasing demand. "With Nelnet's investment in GRNE, we have planted another seed toward a cleaner future," said Gubbels. About GRNE Since 2012, GRNE has been designing and installing commercial, residential and utility scale solar systems throughout the Midwest. Its full-service team includes consultants, engineers, project managers, electricians and solar installers. Collectively, the GRNE team has over three decades of renewable energy and green construction experience and has proudly generated over 35 gigawatt hours (GWh) of clean renewable energy. Visit GRNESolar.com About Nelnet Nelnet (NYSE: NNI) is a publicly traded diversified financial services and technology company focused on offering educational services, technology solutions, professional services, telecommunications, renewable energy, and asset management. Nelnet has nearly $21 billion in assets, including a $17.6 billion loan portfolio, and services almost $560 billion in loan assets. Since 2018, Nelnet Renewable Energy has funded or committed to the construction of more than $1.5 billion of solar energy projects via tax equity financing. From this foundation, the company has broadened its engagement in the renewable energy sector by adding administrative and management services for tax equity investments, community solar subscriber acquisition and management and solar development. To learn more visit NelnetInc.com.

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MARKET RESEARCH

Ceres and Shell announce electrolyser agreement for green hydrogen

Ceres Power | June 28, 2022

Ceres Power a global leader in fuel cell and electrochemical technology, is pleased to announce that it has signed an agreement with Shell to deliver a megawatt scale solid oxide electrolyser (SOEC) demonstrator in 2023. Shell and Ceres are building this partnership to utilise SOEC technology to deliver high-efficiency, low-cost green hydrogen; now widely viewed as a credible route to decarbonise hard-to-abate parts of the energy system that rely on fossil fuels today. Ceres aims to produce hydrogen at efficiencies around 20% greater than other technologies, in the range of mid-80s to 90% efficiency where it is possible to make use of waste heat in industrial processes to drive this high efficiency. Ceres has committed £100 million for the development of its SOEC technology – with the aim of achieving a market-leading levelised cost of hydrogen of $1.5/kg by 2025. The agreement with Shell aligns with Ceres' business strategy and provides a pathway to the commercialisation and development of new markets. The system will be installed at Shell's research and development technology centre in Bangalore, India, where the hydrogen will be used in industrial processes on site. The centre is a key part of Shell's focus on innovation and technology with the potential to provide cleaner energy solutions. Phil Caldwell, Chief Executive of Ceres commented: "Today's announcement with Shell is a hugely important step for Ceres. The partnership endorses our business strategy and signals the potential of our SOEC technology to deliver low-cost green hydrogen for industrial decarbonisation at the scale and pace needed to reach net zero." Yuri Sebregts, EVP Technology, Shell: "Shell's Powering Progress strategy sets a clear ambition for Shell to be a leader in the energy transition and accelerate our journey to become a net-zero emissions energy business by 2050. Hydrogen features heavily in that strategy. Ceres, with their differentiating SOEC technology, have the potential to produce Hydrogen at an optimum cost and efficiency profile. The pilot and collaboration with Ceres are a step forward in maturing this promising technology towards industrial scale."

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ECONOMY

SDG&E to Add Four Microgrids With Energy Storage to Further Strengthen Summer Grid Reliability and Advance Clean Energy Goals

SDG&E | June 27, 2022

Four microgrids equipped with energy storage will be added to the San Diego region to help the state meet high energy demand, particularly on hot summer days and in the peak evening hours after solar power dissipates. These small-scale grids that can operate independent of or parallel to the larger regional grid will also help keep critical community facilities powered during unexpected outages. “They will dispatch clean energy to the grid when needed and keep critical facilities like schools, Cool Zones, and fire stations powered during emergencies.” Tweet this San Diego Gas & Electric (SDG&E) received approval yesterday from the California Public Utilities Commission to build these projects, which will add a total of approximately 39 megawatts (MW) / 180 megawatt-hours (MWh) of storage capacity at four company substations. “These clean energy projects will help our region become more resilient to the impacts of our worsening climate,” said SDG&E Vice President of Energy Innovation Miguel Romero. “They will dispatch clean energy to the grid when needed and keep critical facilities like schools, Cool Zones, and fire stations powered during emergencies.” The projects stemmed from Gov. Newsom’s Proclamation of a State Emergency issued last summer, which outlines California’s energy needs in the face of growing climate challenges. The four new projects, slated to be completed in summer 2023, are the latest of a series of energy storage investments by SDG&E, including the opening of Top Gun, a 30 MW facility, in June 2021 and Kearny Energy Storage, a 20 MW facility, in March 2022. Battery storage works by capturing renewable resources like wind and solar when they are abundant during the day, then sending that energy back to the grid when it is needed. As with other SDG&E owned storage projects, these facilities will be connected to the state energy market so that the California Independent System Operator (CAISO) can dispatch these resources as needed to balance energy supply and demand throughout the state. Below are brief descriptions of each of the projects. The Clairemont substation microgrid will have the ability to power the Balboa Branch Library/Cool Zone, Fire Station 36, and local schools such as Lafayette Elementary and Sequoia Elementary Schools, Innovation and CPMA Middle Schools, and Madison High School The Boulevard substation microgrid will have the ability to power the San Diego County Sheriff’s Department, Fire Station 47, Campo Reservation Fire Station, Cal Fire White Star Station, Campo Tribal Office, Campo Kumeyaay Nation Medical Center, Southern Indian Health Council Campo Clinic, the Boulevard Border Patrol Station, and the Boulevard Post Office The Paradise substation microgrid will have the ability to power Fire Stations 51 and 32, the Southeast Division Police Department, and Bell Middle School, as well as Freese, Boone and Fulton Elementary The Elliott substation microgrid will have the ability to power Fire Station 39, the Tierrasanta Public Library/Cool Zone, Tierrasanta Medical Center, Jean Farb Middle School, Canyon Hills High School, and Tierrasanta and Kumeyaay Elementary Schools. To learn more about SDG&E’s clean energy projects, visit sdge.com/sustainability. SDG&E is an innovative San Diego-based energy company that provides clean, safe and reliable energy to better the lives of the people it serves in San Diego and southern Orange counties. The company is committed to creating a sustainable future by providing its electricity from renewable sources; modernizing energy infrastructure; accelerating the adoption of electric vehicles; supporting numerous non-profit partners; and, investing in innovative technologies to ensure the reliable operation of the region’s infrastructure for generations to come. SDG&E is a subsidiary of Sempra (NYSE: SRE).

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