SOLAR+STORAGE

Clearway Enterprise Announces Agreements for 1.6 GW Portfolio of Renewable Energy Assets

Clearway Energy, Inc. | December 23, 2020

Clearway Energy, Inc. what's more, its inexhaustible improvement accomplice and parent organization, Clearway Energy Group LLC ("CEG"), today declared arrangements accommodating CWEN's co-interest in a 1,204 MW arrangement of environmentally friendly power ventures created by CEG comprising of I) 1,012 MW from five geologically enhanced breeze, sunlight based, and sun based in addition to capacity resources being worked on and ii) the 192 MW Rosamond Central sun based task which is required to begin activities before the year's over. Also, the gatherings corrected the current association understanding for the 419 MW Mesquite Star wind venture giving CWEN an extra 27.51% of the undertaking's incomes after the principal half of 2031.

Roughly 90% of the age from the undertakings are contracted with a different gathering of fundamentally speculation grade counterparties, including utilities and burden serving substances, Fortune 500 partnerships, business and mechanical clients, and monetary organizations, and the portfolio has a more noteworthy than 14-year mixed normal agreement length. Subject to shutting changes and the ventures accomplishing certain achievements, CWEN hopes to put roughly $214 million in corporate capital before the finish of 2022. In view of the current expected planning of the activities accomplishing COD, CWEN expects, before corporate financing costs, the resource CAFD commitment from the ventures to be unimportant in 2021, roughly $9 million of every 2022, and $20 million on a 5-year normal premise starting on January 1, 2023.

"Our obligation to put resources into this arrangement of environmentally friendly power and battery stockpiling undertakings will add geographic and innovative expansion at CWEN," said Christopher Sotos, Clearway Energy, Inc's. President and Chief Executive Officer. "We are satisfied to accomplish this significant achievement as a team with our improvement accomplice and anticipate cooperating on future accretive portfolio ventures."

"We are excited to effectively finish our biggest portfolio exchange to date with Clearway Energy, Inc.," said Craig Cornelius, Chief Executive Officer at Clearway Energy Group LLC. "This geologically assorted 1.6 GW arrangement of wind, sun oriented, and energy stockpiling ventures speaks to the monetary chance of environmentally friendly power in each side of this nation. Taken together, in excess of 2,500 American positions will be made to construct and work these perfect energy resources, which will proceed to supply spotless and ease capacity to countless families and organizations across the United States. The present concurrence with our speculation accomplices will be significant in our proceeded with capacity to give clean energy at the size of our nation's interest while assisting with conveying on speculators' developing interest in environmental change arrangements."

Spotlight

Randy Lemay explains how Canfor uses the remainder of logs, after they are cut into lumber, to generate a renewable, sustainable source of power. Adopting new ways of using renewable forest materials will help ensure that Canada's forest sector continues to play a key role.

Spotlight

Randy Lemay explains how Canfor uses the remainder of logs, after they are cut into lumber, to generate a renewable, sustainable source of power. Adopting new ways of using renewable forest materials will help ensure that Canada's forest sector continues to play a key role.

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SOLAR+STORAGE

Canadian Solar Signs Operations & Maintenance Agreements with Solar plus Battery Storage Projects in the U.S.

Canadian Solar Inc. | September 07, 2021

Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ) today announced that it has signed long-term Operations & Maintenance (O&M) agreements with two solar PV plus battery storage projects in the U.S., namely, the Slate and Mustang projects which were both developed by Canadian Solar's subsidiary Recurrent Energy and are currently owned by Goldman Sachs Asset Management Renewable Power (Goldman Sachs). The agreements cover the full Slate Project, which is a 300 MWac solar plant designed with a 140 MW / 561 MWh battery energy storage system; and the storage component of the Mustang Project, which is a 100 MWac solar plant retrofitted with a 75 MW / 300 MWh battery storage system. Both projects are located in Kings County, California. Under the long-term agreements, Canadian Solar will be responsible for various O&M obligations across both projects, including plant monitoring, NERC registration, performance management and preventative and corrective maintenance. Canadian Solar services will help to increase site availability, minimize downtime and maximize the value of the projects. These contracts further solidify Canadian Solar's position as a leading solar and energy storage O&M provider. The Company now boasts with a global O&M portfolio of nearly 4 GWp of solar and 860 MWh of storage projects under contract across nine countries, of which 2.3 GWp of solar projects are currently in operation. These projects include both Canadian Solar as well as third-party developed projects. The Company expects to meaningfully scale its O&M business, targeting to reach 11 GWp of operational solar projects by 2025, expanding its share of stable income. Dr. Shawn Qu, Chairman and CEO of Canadian Solar said, "As we expand our market leadership position from solar energy into battery storage project development and systems integration, offering operations and maintenance services in battery storage is a natural extension of Canadian Solar's value proposition. We will continue to add value to our customers by providing the best quality service, maximize production of clean renewable energy and enhance the value of solar and battery storage assets through our O&M services. We are delighted to be selected by Goldman Sachs to provide O&M services to both the Mustang and Slate solar and storage projects and look forward to the long-term partnership." 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 59 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 6.1 GWp in over 20 countries across the world. Currently, the Company has around 400 MWp of projects in operation, nearly 6 GWp of projects under construction or in backlog (late-stage), and an additional 16 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. About Goldman Sachs Asset Management Renewable Power Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world's leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2.3 trillion in assets under supervision worldwide as of June 30, 2021. Driven by a passion for our clients' performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Established in 2017, the Renewable Power business within Goldman Sachs Asset Management has sponsored more than 800 solar projects across 27 U.S. states that collectively have a capacity of more than 2.3 gigawatts of clean, renewable power. We take a long-term ownership approach to the operations and management of renewable assets with a leading industry expertise across transaction sourcing, financial analysis, power markets and physical asset analysis and operations.

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CarbonX and AirCarbon Exchange Sign a Memorandum of Understanding, Establishing Indonesia's Carbon Market

CarbonX | March 28, 2022

CarbonX, an Indonesian developer of high-impact carbon assets, has signed a Memorandum of Understanding (MoU) with AirCarbon Exchange (ACX), the world's first fully digital carbon exchange, to collaborate on developing a carbon marketplace in Indonesia. Dessi Yuliana, director of CarbonX, noted that the collaboration would provide Indonesian carbon project developers with a domestic carbon market connected to ACX's international customer order book. Additionally, the carbon marketplace will enable the Indonesian carbon market to expand swiftly. "The joint venture delivers all aspects of a comprehensive carbon infrastructure where buyers and sellers worldwide and domestically can transact in a transparent and efficient manner," -Dessi Yuliana, director of CarbonX According to Pandu Sjahrir, Commissioner of CarbonX, Indonesia has committed to a green economic transformation through the Net Zero Emission (NZE) objective of 2060, which is enshrined in Presidential Regulation 98/2021 on the Implementation of Carbon Economic Value. To accomplish this goal, all players must collaborate and are aided by enabling policies. According to Bappenas, Indonesia will require enormous annual investments of approximately 3.4 to 3.5 percent of GDP to reach the NZE. "The carbon marketplace platform scheme created by CarbonX can contribute to assisting investment funding to achieve NZE targets. If all of this takes place optimally, Indonesia can produce a massive supply of carbon offsets and contribute to the NDC commitment, while also providing social and economic co-benefits," -Pandu Sjahrir, Commissioner of CarbonX William Pazos, Managing Director and Co-Founder of AirCarbon Exchange, noted that the relationship with CarbonX will expand options for Indonesian carbon asset producers. "Today's announcement marks another milestone in ACX's rapid ascent as one of the world's premier carbon marketplaces. By leveraging ACX's technology, the CarbonX partnership will launch with immediate scale. As a result, Indonesian buyers and sellers will immediately gain access to an international marketplace with participants from 30 countries," -William Pazos, Managing Director and Co-Founder of AirCarbon Exchange ACX was named the Best Carbon Exchange in Environmental Finance's annual Voluntary Carbon Market Rankings 2021 - the world's most extensive and most-watched study of the Voluntary Carbon Market. The Exchange has developed dramatically since the first deal was executed on the platform in early 2021, bringing openness, efficiency, and liquidity to the voluntary carbon markets.

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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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