MPC Energy Solutions | September 02, 2021
MPC Energy Solutions (MPCES) has selected ISOTRON SA, part of Spanish Grupo ISASTUR, as EPC contractor for the construction of its Santa Rosa & Villa Sol solar photovoltaic (PV) plants in El Salvador, which have a combined capacity of 21.07 MWp. The construction will commence in September upon financial close with the project financing lender. The renewable power plants are fully owned by MPCES and this is the first project to start construction from the proprietary development pipeline of the Company.
The solar plants will sell all their generated energy through a 20-year USD-denominated power purchase agreement (PPA) with CAESS, the local subsidiary of US-based energy company AES. The total investment is USD 26 million of which 75% is financed through a project financing facility.
"The selection of the construction contractor is an important milestone. The groundbreaking of Santa Rosa & Villa Sol in September shows the inherent value of the project portfolio we have had under ownership since our stock market debut earlier this year and is another proof point that we can successfully execute projects in the region. More than 60% of the energy generated in El Salvador comes from clean and renewable sources, largely thanks to the country's efforts to diversify its power mix. This shows the high potential of the market and we are excited to support the country in this important initiative." said Martin Vogt, CEO at MPC Energy Solutions.
Energy production from the Santa Rosa & Villa Sol project is expected to start in 2022. When commissioned, the plants will generate almost 43 GWh a year. MPCES expects an annual revenue contribution from this project of at least USD 3.5 million. The project's solar power will offer substantial environmental benefits, avoiding nearly 11,000 tons of CO2 emissions per year. As part of MPCES's ongoing commitment to Environmental, Social and Governance measures, the firm has set a minimum target of 10% for the participation of females in the construction workforce.
Martin Vogt said: "This solar PV project perfectly aligns with our strategy to build high-quality renewable energy assets together with private sector clients in Central America and it is another step towards our aim to become a leading Independent Power Producer (IPP) in the region. Our long-standing network and expertise in this region will help building a strong and diversified portfolio which will generate attractive returns for our shareholders."
About MPC Energy Solutions
MPC Energy Solutions ("MPCES") is a global provider of sustainable energy and primarily focuses on low-carbon energy infrastructure, including solar and wind assets, and other hybrid and energy efficiency solutions. The Company participates in the full project lifecycle of renewable solutions, from early-stage development through construction and operation.
Canadian Solar | November 26, 2021
Canadian Solar Inc. announced that its subsidiary CSI Solar signed a strategic cooperation framework agreement with Contemporary Amperex Technology Co., Ltd., a global leader of new energy innovative technologies.
According to the agreement, CSI Solar and CATL will establish a strategic partnership to cooperate holistically in the areas of battery storage system solutions, supply of lithium-ion battery modules, operation and maintenance services of battery storage projects, and innovative renewable energy technology.
Tan Libin, CATL's Vice President, commented, "Global demand for battery storage is increasing dramatically under the backdrop of reaching net-zero emission goals. Our competitive advantage is on delivering highly innovative, efficient, competitive, and safe batteries across various applications, while Canadian Solar is an early mover and one of the key players in the global battery energy storage business. Our partnership with Canadian Solar is a perfect match and allows us to build on both our strengths."
We are delighted to partner with CATL to support the rapid growth of our battery storage businesses. The partnership leverages CATL's innovative battery storage technology and our global reach and experience to provide best-in-class battery storage solutions to our customers. We now have a global battery storage pipeline of 21 GWh, including 2.9 GWh under construction. Our common goal is to use solar and battery storage technology to support a cleaner, smarter and more reliable global grid, and do our part in contributing to the acceleration of the clean energy transition."
Dr. Shawn Qu, Chairman and CEO, Canadian Solar
Contemporary Amperex Technology Co., Limited (CATL) is a global leader in new energy technology innovation, committed to providing premier solutions and services for new energy applications worldwide. In June 2018, the company went public on the Shenzhen Stock Exchange with stock code 300750. According to SNE Research, in the year 2020, CATL's EV battery consumption volume ranked No.1 in the world for four consecutive years. CATL also enjoys wide recognition by global OEM partners. To achieve the goal of realizing fossil fuel replacement in stationary and mobile energy systems with highly efficient electrical power systems that are generated through advanced batteries and renewable energy, and promote the integrated innovation of market applications with electrification and intelligentization, CATL maintains continuous innovation in four dimensions including battery chemistry system, structure system, manufacturing system and business models.
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 63 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 6.2 GWp in over 20 countries across the world. Currently, the Company has around 430 MWp of solar projects in operation, nearly 7 GWp of projects under construction or in backlog (late-stage), and an additional 17 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.
Duke Energy | December 02, 2021
Duke Energy has filed an agreement with the North Carolina Utilities Commission (NCUC) that will align solar adopter compensation to utility system benefits and create long-term stability for the residential solar industry in North Carolina.
The net metering agreement was crafted by Duke Energy and the N.C. Sustainable Energy Association; the Southern Environmental Law Center on behalf of Vote Solar and the Southern Alliance for Clean Energy; Sunrun Inc. and the Solar Energy Industries Association. It must be approved by the NCUC.
"Duke Energy is committed to finding collaborative paths forward to help with the clean-energy transition and carbon-reduction goals in the Carolinas," said Stephen De May, Duke Energy's North Carolina president. "This deal ensures fair and reasonable treatment for all customers whether they choose to install solar or not."
Duke Energy has encouraged private solar ownership over the past three years with its $62 million solar rebate program, which is expected to continue into 2023. Currently, 24,000 North Carolina customers have private solar systems compared to 6,000 at the beginning of 2018.
The agreement modernizes rooftop solar economics and unlocks benefits for all customers. Net metering has been a contentious issue around the nation, but our stakeholder partners worked together to craft a fair solution that brings financial sustainability to rooftop solar in North Carolina."
Lon Huber, Duke Energy's Vice President of Strategic Solutions
The agreement follows a similar net metering agreement in South Carolina from September 2020.
Allows for new net metering tariffs to go into effect for customers submitting applications on or after Jan. 1, 2023.
Will create innovative pricing and incentives for residential solar customers.
Features rate design mechanisms to properly collect costs of the grid infrastructure needed to serve solar customers.
Will include cutting-edge retail rates that vary based on the time of day and when the utility is experiencing peak demand.
About Duke Energy
Duke Energy, a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. Its electric utilities serve 7.9 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 51,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 27,500 people.
Duke Energy is executing an aggressive clean energy strategy to create a smarter energy future for its customers and communities – with goals of at least a 50% carbon reduction by 2030 and net-zero carbon emissions by 2050. The company is a top U.S. renewable energy provider, on track to own or purchase 16,000 megawatts of renewable energy capacity by 2025. The company also is investing in major electric grid upgrades and expanded battery storage, and exploring zero-emitting power generation technologies such as hydrogen and advanced nuclear.
Duke Energy was named to Fortune's 2021 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos and videos. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues.