Lightsource bp | January 28, 2021
Lightsource BP has shut a US$380 million financing package for two Texan sunlight based projects with a consolidated limit of 316MW.
The designer said it has additionally gotten things started on the 163MW Elm Branch and 153MW Briar Creek plants, which and are situated around 40 miles south of Dallas.
Duty value financing was made sure about from Bank of America, while obligation for the offices was given by commanded lead arrangers ING Capital and Société Générale.
Lightsource said power contracts marked already for the offices "assumed a key part" in supporting speculation and financing. The organization as of late made sure about a virtual force buy understanding (PPA) with aviation organization L3Harris Technologies for up to 100MW from Elm Branch just as an intermediary age PPA with venture bunch Allianz Global for power produced by Briar Creek.
“This transaction is a demonstration of the low risk and stable yield opportunities that renewable energy projects offer to investors,” said Kevin Smith, CEO of the Americas at Lightsource BP. “Despite challenges posed with COVID-19, Lightsource BP reached financial close on over US$1.2 billion in transactions in the US in 2020, a substantial increase from 2019.”
The projects are relied upon to be operational by 2021, with McCarthy Building Companies chose by Lightsource as its designing, obtainment and development worker for hire, following on from the organizations' coordinated effort at the 300MW Bighorn Solar plant in Colorado.
Scott Canada, executive vice president of McCarthy’s renewable energy and storage unit, said the company is “honoured” to be part of the team that is bringing more clean energy to Texas: “Around the country we are seeing the positive impact that solar energy can have on communities as they embrace clean energy solutions to attract large companies with renewable energy goals.”
Lightsource BP recently declared it has finished development at another Texan utility-scale PV plant, the 260MW Impact Solar venture.
About Lightsource bp
Lightsource bp is a global leader in the funding, development and management of solar energy projects. Our organisation represents a strategic and powerful partnership which is set to further accelerate the low-carbon transition and boost the growth of solar power worldwide.
Pivot Energy | October 21, 2021
Pivot Energy and Clean Footprint are pleased to announce their partnership to bring 42 megawatts (MW) of solar energy capacity to 11 projects across Virginia. The projects are expected to serve households, municipal buildings, and local businesses with clean, renewable electricity for many years to come.
While Virginia may rank 11th nationally in terms of installed solar capacity, growth has largely come from utility-scale projects across the state. However, the Virginia Clean Economy Act, which passed the legislature in March 2020, will jump-start over 16 gigawatts of new solar development, including new distributed generation and community solar.
The neighboring towns of Hurt and Altavista are among the first in the state to experience direct benefits of new solar development through the partnership between Pivot Energy and Clean Footprint as they will host the initial eight solar projects. Local leaders in both communities eagerly anticipate the wide range of possibilities renewable energy will bring to their communities, including new jobs and guaranteed land lease revenue for decades to come.
"We are very excited about these upcoming solar projects as they are the first step toward the Town of Hurt going completely green. We are confident that becoming a green community will attract a lot of businesses, especially those in the tech industry since they are typically interested in supporting clean energy," said Hurt's mayor Gary Hodnett.
Altavista will also reap the benefits of solar energy in their community. Not only will the projects provide clean, renewable energy to businesses and households, they will also provide local landowners with stable monthly income for hosting projects on unused portions of their land.
"I'm glad that our land can go toward a good cause. I know we have some environmental problems, and the idea of supplying clean energy to the town of Altavista intrigues me," said local Altavista landowner, farmer, and Vietnam veteran Ralph English.
Pivot Energy and Clean Footprint are thrilled to collaborate on bringing the benefits of solar energy, resiliency planning, economic development, and jobs to these communities. Clean Footprint is leading early-stage development of the solar projects while Pivot Energy will finance, own, and operate the portfolio over the long term.
"Pivot Energy is a well-respected B-Corporation that was founded on strong commitments to both people and the planet. Their values align very closely with ours, which makes them the perfect partner for us to work with, especially in community-oriented towns like Hurt and Altavista that also stand to benefit tremendously from the economic impact of solar energy."
John Porter, Clean Footprint CEO
"Clean Footprint's leadership consistently delivers on doing the right thing and making a positive economic and environmental impact. They prioritize the needs of the local community and put personal relationships front and center, while also continuing to drive the development of more renewable energy. The natural synergies between Pivot Energy and Clean Footprint makes projects like these really special," said Pivot Energy's Vice President of Strategic Partnerships, Matt Preskenis.
Both Clean Footprint and Pivot Energy see the Hurt and Altavista projects as an important start to a lasting partnership that has the potential to bring tremendous value to additional towns across Virginia and the broader Mid-Atlantic.
About Pivot Energy
Pivot Energy is a national solar provider that develops, finances, builds, owns, and manages solar and storage energy projects. Pivot offers a distributed energy platform that includes a range of services and software aimed at serving the full solar ecosystem. Pivot operates on a triple bottom line basis, measuring success by the positive impact on people, the planet, and profit.
About Clean Footprint
Through the extensive background of our management team, Clean Footprint has positioned itself as a leader in the origination and development of solar projects. Our Team, their collective experience, and years of industry knowledge enables Clean Footprint to offer our financial partners solutions that are reliable, cost effective, and sustainable.
Apollo Global Management, Inc. | October 13, 2020
Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo” or the “Firm”) announced today that certain funds managed by its affiliates (“Apollo Funds”) have formed a joint venture with Altius Minerals Corporation (TSX:ALS) subsidiary Altius Renewable Royalties (“Altius”) to accelerate the growth of Great Bay Renewables (“Great Bay”), the US-based operating subsidiary of Altius and a leading provider of renewable energy development capital in North America. Apollo Funds expect to invest up to $200 million and will have the opportunity to acquire up to a 50% stake in Great Bay, the proceeds of which will be used by Great Bay to invest in prominent renewable energy development platforms in North America. Through the investment, Apollo’s infrastructure strategy becomes the first in its asset class to fund renewable royalties and expects to establish a leadership position in the space.