prnewswire | July 19, 2023
Globeleq, the leading independent power company in Africa, has agreed to purchase Scatec A.S.A.'s 52.5% stake in the 41 MW Central Solar de Mocuba solar PV power plant (Mocuba). Globeleq will also purchase KLP Norfund Investments A.S.'s 22.5% stake in the plant at the same time.
On completion of these transactions, Globeleq will hold a 75% stake in Mocuba, and will become the owner and manager of the plant. Electricidade de Moçambique (EDM), the national power company, will continue to hold the remaining 25%.
The Mocuba power plant is located on 126 hectares in a rural setting approximately 13km from the city of Mocuba in Zambezia province, in central Mozambique. The project reached financial close in March 2018 and construction was completed in August 2019. EDM is the off-taker through a 25-year power purchase agreement with the electricity produced being supplied into the national grid. The International Finance Corporation and the Emerging Africa Infrastructure Fund are lenders to the project.
This acquisition will significantly expand Globeleq's operational footprint in Mozambique where the company is in the process of commissioning a 19 MW solar and 7MWh energy storage project at Cuamba and constructing a 450 MW gas-to-power project at Temane. Globeleq is also leading development of a 120 MW wind project at Namaacha, near Maputo. The Mocuba transaction is subject to regulatory and lender approval and is expected to close in the first half of 2024.
Following the completion of this transaction and the commissioning of the Cuamba Solar plant, Globeleq's solar portfolio in Africa will be close to 400 MW across South Africa, Egypt, Kenya and Mozambique.
Mike Scholey, Globeleq's CEO commented:
"I am very pleased that Globeleq is continuing to build its presence in Mozambique through the purchase of the Mocuba solar plant. This acquisition, alongside our other projects, demonstrates our commitment both to Mozambique and to building our renewable power portfolio in Africa."
Globeleq, which is owned 70% by British International Investment and 30% by Norfund, is the leading developer, owner and operator of electricity generation in Africa. Since 2002, its experienced team of professionals have built a diverse portfolio of independent power plants, generating more than 1,500MW in 14 locations across 6 countries, with a further 722 MW in construction and more than 2,000 MW of power projects in development.
businesswire | August 31, 2023
Avangrid, Inc. a leading sustainable energy company and part of the Iberdrola Group, has announced a pilot project with LineVision, Inc. to unlock additional capacity on its transmission lines for renewable energy in New York state. The project will deploy advanced monitoring for overhead transmission lines in the Hornell, N.Y. area with the goal of reducing grid congestion by providing real-time data on where additional power can safely flow through the existing transmission infrastructure. This critical data and visibility could aid in linking more renewable energy resources into New York’s electrical grid and supporting the state’s clean energy goals.
The amount of energy that electric transmission lines can safely carry is variable. Historically, the lines have been operated using “static” line ratings that tell grid operators a lines’ energy capacity based on conservative and fixed values for assumed weather conditions. However, now with LineVision’s advanced monitoring Avangrid will be able to see real-time data, allowing for more flexibility to safely increase the amount of energy flowing through the transmission lines based on current conditions. The advanced monitoring provides “dynamic” line ratings (DLR), which determine capacity limits of the power lines by combining real-time properties such as sag, temperature and forecasted weather conditions. This results in more informed grid operations and increased carrying capacity of the transmission lines without needing to make any large grid upgrades.
As part of the project, LineVision will partner with Avangrid’s electric utility operating company New York State Electric & Gas (NYSEG) to install non-contact LiDAR sensors to monitor overhead transmission lines, accelerating renewable energy adoption and progressing toward the state’s Climate Leadership and Community Protection Act (CLCPA) goals. The sensors will be installed on two of the company’s transmission lines: One runs from Elma (Erie County) to Strykersville (Wyoming County), and the other line runs from Warsaw to Perry (both in Wyoming County).
Funding for the project was awarded to Avangrid and LineVision through round two of NYSERDA’s Future Grid Challenge program. The program addresses a recommendation contained in a Department of Public Service order released in January 2022 for the deployment of advanced transmission and distribution technologies for improved transmission utilization while supporting New York’s CLCPA goal to achieve 70% renewable electricity by 2030.
Pedro Azagra, CEO of Avangrid said, “Decarbonizing our region and nation will require critical investments in transmission and distribution infrastructure. This pilot project is just one example of how we’re working to modernize the grid and enhance reliability and resiliency across our service areas for our customers. We’re proud to be making strategic and critical investments that will enable New York’s climate goals, help mitigate the impacts of climate change and increase access to renewable energy.”
Hudson Gilmer, CEO and co-founder of LineVision said, “We are thrilled to have been chosen to take part in this important project. By multiple accounts, we must double the size of the power grid to have any hope of meeting critical climate goals. Our technology has helped our utility customers identify between 25-40% additional capacity on existing lines which helps accelerate a transition to renewables. We are excited to work with Avangrid and NYSERDA to help optimize New York’s grid.”
Patricia Nilsen, president and CEO of NYSEG and RG&E said, “We have been an anchor institution in our communities for more than a century. We know that we have a critical role in building a smarter, more resilient network that will enable us to deliver clean energy to more customers. Investments in innovation like this are very exciting because it will benefit our customers in multiple ways.”
The CLCPA calls for an additional 10,000 MW of solar capacity and 9,000 MW of offshore wind capacity. These aggressive goals, as well as the goals set forth by the recently passed Inflation Reduction Act, would likely cause significant congestion on transmission lines. To ensure reliability of the system, reduce cost of congestion, and allow faster integration of renewables, implementation of DLR solution could play a vital role.
Avangrid, Inc. aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $41 billion in assets and operations in 24 U.S. states, Avangrid has two primary lines of business: networks and renewables. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, Avangrid owns and operates a portfolio of renewable energy generation facilities across the United States. Avangrid employs more than 7,500 people and has been recognized by JUST Capital in 2021, 2022 and 2023 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2023, Avangrid ranked first within the utility sector for its commitment to the environment. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2023 for the fifth consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A.
LineVision provides electric utilities with the real-time monitoring and analytics needed to accelerate the net zero grid. LineVision’s patented non-contact sensors collect critical information to unlock additional capacity on existing lines, provide insight into conductor health, and detect anomalies and risks. LineVision’s platform is rapidly deployed at scale without the need for scheduled outages, live line work, or specialized installation equipment. LineVision is helping our utility partners around the world lead the energy transition by increasing the capacity, resilience, and safety of the grid.
Businesswire | August 03, 2023
Catalyze, a clean energy transition company that finances, builds, owns, and operates solar, battery storage, and electric vehicle charging systems for commercial and industrial customers, today held a ribbon cutting to commemorate the launch of the Sheep Creek Community Solar Farm in Adelanto, California. This project marks the first under California’s Enhanced Community Renewables (ECR) program to be contracted by one of the state’s three investor-owned utilities, Southern California Edison (SCE).
As one of the first community solar farms in Southern California, Sheep Creek Community Solar Farm is designed to generate clean energy for both residential and commercial accounts. There are currently 241 subscribers. The 3.8 MWdc project, developed and managed by Catalyze and Ampion, a leading community solar subscription and revenue management company, will expand access to solar energy for customers who do not own their property, are not able to pay the upfront cost of solar installation, or have a roof that is in poor condition or shaded. The project will support SCE’s efforts to comply with California's Green Tariff Shared Renewables program, requiring the state’s investor-owned utilities to offer 100% solar energy options to their customers.
“Community solar plays a key role in ensuring that participation in the clean energy transition is accessible to all,” said Jared Haines, CEO of Catalyze. “We couldn’t be prouder to develop the first front-of-the-meter community solar project that supports California’s ECR program. It is our hope that Sheep Creek can act as an example for other projects to follow statewide, and we can accelerate the execution of more community solar projects to help reach the goal of ensuring widespread availability of renewable energy.”
California's ECR program, a component of the Green Tariff Shared Renewables program, gives utility customers the opportunity to receive 100% clean energy from the state’s largest utilities. Under the structure of the program, utility customers can subscribe to a portion of a community solar project. The customer pays for the amount of energy to which they are subscribed. The customer then receives a credit on their utility bill that reflects this amount of electricity produced by their share of the solar farm. This process is managed by Ampion, which handles subscriber acquisition and revenue management for the Sheep Creek site.
"Community solar’s debut in the Southern California Edison territory marks a watershed moment for the state and the movement,” said Nate Owen, CEO of Ampion. “Since community solar projects have no upfront cost or installation needed for users, they are an excellent way for states to give their citizens access to renewable energy. With Ampion’s successful acquisition of both enterprise and residential customers, all energy generated from the site will be used by the community. We are thrilled to partner with Catalyze to expand community solar’s reach in California and look forward to continuing to help grow this critical market."
The ECR program allows low-to-middle-income residents, who have traditionally been left out of the energy transition, to reduce their own carbon footprint and utility costs while alleviating stress on the power grid. Solar energy provided by the Sheep Creek project will add to California’s renewable energy supply portfolio and assist in reaching the state’s goal of 100% renewable energy use by 2045.
Catalyze is owned by leading energy investors EnCap Investments L.P. and Actis.
Catalyze is a national Energy Transition Partner that develops, finances, owns, and operates integrated renewable assets, and combines its proprietary technology, financial strength, and battery and electric vehicle savvy to deliver standardized, yet configurable systems that meet their partners’ unique needs. These offerings enable commercial and industrial property owners, operating companies, and their customers to extract greater value from their assets, take increased responsibility and ownership of their energy profile, and ultimately become part of the clean energy transition. Catalyze owns two proprietary technologies – REenergyzeⓇ, an origination-to-operations software integration platform that helps accelerate and scale the nationwide adoption of commercial and industrial solar and storage, and SolarStrapⓇ, a proprietary mounting technology to install rooftop panels.
About EnCap Investments L.P.
Since 1988, EnCap Investments has been a leading provider of growth capital to the independent sector of the U.S. energy industry. The firm has raised 24 institutional investment funds totaling approximately $40 billion and currently manages capital on behalf of more than 350 U.S. and international investors. Founded in 2019, the EnCap Energy Transition platform is led by four Managing Partners, each with 30-35 years of experience in the development and operations of renewables and power generation.
Actis is a leading global investor in sustainable infrastructure. Actis has raised $US25 billion since inception and has more than US$15 billion of assets under management. A team of over 120 investment professionals operates from 17 offices across five continents. Actis’ global experience, operational know-how and strong culture allows it to build and operate global sustainability leaders of scale, while delivering competitive returns for institutional investors and measurable positive impact for the countries, cities and communities in which it operates. Actis is a signatory to the United Nations backed Principles for Responsible Investment (UNPRI), an investor initiative developed by the UNEP FI and the UN Global Compact. The firm has consistently been awarded the highest rating score in the UNPRI independent assessment.
Ampion provides turnkey subscription and revenue management solutions for renewable energy developers nationwide, simplifying the complex world of distributed generation. From prospect to payment, we maximize investor returns in a holistic way, optimizing revenue with a customer management platform purpose-built for community distributed generation. We’re industry veterans with the people, platform, and processes required to help developers and asset owners get the most out of their portfolios. Our clients choose us because we make their projects more predictable and more profitable, with better data insights, happier subscribers, and less risk.