Octopus Energy | February 16, 2023
Octopus Energy U.S. recently announced Intelligent Octopus for E.V., a smart-rate that will provide drivers in Texas with cheaper electricity rates when they smart-charge their electric vehicles. Customers can now pair Intelligent Octopus with their E.V.s to automatically determine the best, most cost-effective time to charge and save up to 20% on their monthly residential electricity bill.
Intelligent Octopus, powered by Octopus Energy's proprietary Kraken Technology, is a smart device management feature that incentivizes customers for helping to balance the grid during grid constraints, so long as the device is connected. By enabling customer flexibility, Octopus Energy can provide the best price electricity rates on the market.
Customers of Octopus Energy will be able to sign up and connect their electric vehicles via a mobile app that responds to multiple grid signals. By allowing Octopus Energy to smart charge their car, customers will receive a discount on their standard residential electricity rate. Intelligent Octopus will handle the necessary tasks based on the preferences set by the customer.
With widespread adoption in the U.S., Intelligent Octopus manages over 100 megawatts (M.W.) of E.V. charging power, which is greater than the largest battery on the U.K. grid. This solution is the most recent step in Octopus Energy's mission to enable a brighter and greener future throughout the United States market, which it entered in 2020. The company also recently announced that it would offer customers the option to incorporate home batteries into their energy plans. This will enable it to aggregate home batteries to establish a Virtual Power Plant and further minimize energy rates customers pay.
About Octopus Energy
Octopus Energy Group is an innovative, renewable energy retailer based in London, UK. It directly supplies approximately 4.9 million customers with 100% green electricity at a lower cost and emphasizes exceptional customer service. The company expanded in the U.S. market in 2020, creating Octopus Energy U.S. and fueling the company's global expansion. It comprises ten companies spanning six countries and three continents, including Kraken Technologies, Kraken Flex, Octopus Energy Retail, Octopus Electric Vehicles, Octopus Energy Generation, and the Octopus Centre for Net Zero. Founded in 2016, the company has a nearly $5 billion valuation and is one of the fastest-growing private energy technology companies.
Apex Clean Energy | January 31, 2023
On January 30, 2023, Apex Clean Energy signed an Environmental Attribute Purchase Agreement (EAPA) with Meta to generate total renewable energy in the Angelo Solar Project with a 195 MW facility, supporting the regional operations in Tom Green County (Texas).
The Angelo Solar Project will generate around $31.7 million in tax revenue for the local community, approximately $22 million in landowner payments, and about 400 jobs during construction, with commercial operations expected in early 2024.
The other earlier declared transactions would continue to manifest between Apex and Meta, like an 80 MW EAPA with Altavista Solar, 197 MW with Jayhawk Wind, 175 MW with Lincoln Land Wind, 200 MW with Aviator Wind East, and 225 MW with Great Pathfinder Wind, along with this agreement.
President and CEO of Apex Clean Energy, Mark Goodwin, said, “The success of our company and our mission, to accelerate the shift to clean energy, relies on partnerships with first movers like Meta that have set ambitious standards driving the energy transition. He added, “As we advance our sixth project alongside Meta, this portfolio, now totaling more than a gigawatt, represents a diverse set of best-in-class wind and solar projects in markets across the United States.”
(Source – Business Wire)
Urvi Parekh, Head of Renewable Energy at Meta, said, “We appreciate Apex’s partnership in helping us bring a total of one gigawatt of new renewable energy to the grid across Texas, Virginia, Illinois, Kansas, and Iowa.” She added, “This new solar project will support our commitment to 100% renewable energy and will help bring jobs and investment to the local community.”
(Source – Business Wire)
About Apex Clean Energy
Apex Clean Energy generates clean energy with a diverse portfolio of about 40 gigawatts. At its headquarters in Charlottesville (Virginia) and nationwide, 400 specialists are working on its projects. Its renewable frontiers are wind, solar, storage facilities, distributed energy resources, and green fuel technologies in North America. Established in 2009 as a modest start-up, the company has grown into a successful business that encourages employee initiative and autonomy.
ENERGY, INDUSTRY UPDATES
UGI and Archaea Energy | February 14, 2023
On February 13, 2023, UGI Energy Services, LLC, a subsidiary of UGI Corporation, and Archaea Energy Inc., a subsidiary of bp, announced that they recently formed a joint venture, Aurum Renewables, LLC, to build a renewable natural gas ('RNG') project. This project will be located in the Commonwealth Environmental Systems landfill in Hegins, Pennsylvania. Archaea Holdings, LLC, has a 60% ownership interest, while the UGIES subsidiary has a 40% ownership interest in the joint venture.
UGIES will contribute its current 11-megawatt landfill gas-to-electricity facility to the joint venture. Through the joint venture, Aurum will construct a new RNG facility that will convert landfill gas into RNG. The project is anticipated to have the ability to generate approximately 5,000 MMBtu per day of pipeline-grade RNG upon completion. Archaea, a renowned RNG company, will lead the new RNG facility's design, engineering, building, and operation. In addition, UGIES will direct the marketing of the RNG produced by the facility.
Brian McCarthy, Chief Financial and Commercial Officer of Archaea, shared, "We are very excited to continue to expand our partnership with UGI, which, as a result of this joint venture, now spans across the full RNG value chain of production, transportation, and commercial offtake." He added, "This new RNG facility will be one of the largest in the Archaea portfolio and is expected to bring significant environmental and social benefits to southeast Pennsylvania communities. This new facility will also bring global benefits by reducing greenhouse gas emissions and providing a domestically-produced, affordable, low-carbon source of energy."
(Source – Business Wire)
About UGI Corporation
UGI Corporation distributes and markets energy-related goods and services and is headquartered in King of Prussia, Pennsylvania. Through its subsidiaries, the company manages natural gas and electric utilities in Pennsylvania and natural gas utilities in West Virginia. It distributes LPG domestically (through AmeriGas) and internationally (through UGI International). It also manages midstream energy assets in Pennsylvania, West Virginia, and Ohio and electric generation assets in Pennsylvania. In addition, it provides energy marketing, including the marketing of renewable natural gas, in the Mid-Atlantic region of the United States and California.
About Archaea Energy
Archaea Energyis one of the largest producers of renewable natural gas ('RNG') in the United States, with an industry-leading RNG platform. The company has vast expertise in designing, constructing, and running RNG facilities to capture waste emissions and transform them into low-carbon fuel. It seeks to redefine the RNG industry by introducing a systematic and sustainable approach to RNG project development, from a cost-effective manufacturing approach utilizing the best available technologies and processes to a differentiated commercial system centered on selling RNG under long-term, fixed-price agreements to creditworthy partners.