SOLAR+STORAGE
businesswire | April 04, 2023
Enviva Inc. welcomes today’s news that the European Union’s trilogue negotiations concluded with an agreement on the Renewable Energy Directive III (“REDIII” or the “Directive”) and is pleased to hear that woody biomass will continue to be recognized as a renewable energy source in the EU.
Although the final text of the agreement has yet to be released publicly, the Company also understands that, encouragingly, the agreement does not impose restrictions on “primary woody biomass,” which will be counted as 100 percent renewable and zero-rated in the EU Emissions Trading System (EU ETS), provided sustainability criteria are fulfilled. As the world’s leading producer of sustainably sourced woody biomass, Enviva is confident that it will be able to meet all updated sustainability criteria, thereby enabling its customers to continue to make an important contribution to achieving global climate goals.
Today’s agreement is also expected to include: assurances that electricity-only plants already receiving subsidies will continue to do so, meaning Enviva’s existing off-take contracts are not expected to be impacted; continuing availability of financial support to electricity-only installations where Bioenergy Energy Carbon Capture and Storage (BECCS) is used (this is a pivotal technology for reaching Net Zero and a key focus for many of Europe’s power generators); and the availability of financial support for all other end uses of woody biomass, which should provide further tailwinds to Enviva’s continued growth in combined heat and power, hard-to-abate sectors, and biofuels.
“Today’s REDIII agreement is the last major step towards the end of an 18-month process that is now drawing to a favorable conclusion for the environment,” said Thomas Meth, President and CEO of Enviva. “While there will be some conjecture over the coming weeks, based on information that we have received thus far, I am fully confident that the final text will enable our business to continue to support the EU's journey to Net Zero and will strengthen the platform for Enviva’s growth, especially in light of current high carbon prices. Reputable scientific organizations, including The Intergovernmental Panel on Climate Change (IPCC), show that bioenergy is integral to achieving global climate goals, and I am delighted to hear that this was acknowledged and reflected in the REDIII agreement,” concluded Meth.
Enviva anticipates that the agreed final text of the Directive will not be available for a number of weeks and looks forward to sharing further information with its stakeholders in due course. The next step is for this agreement to be formally endorsed by the Council and Parliament before entering into law.
About Enviva
Enviva Inc. is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva owns and operates ten plants with a combined production capacity of approximately 6.2 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi, and is constructing its 11th plant in Epes, Alabama. Additionally, Enviva is planning to commence construction of its 12th plant near Bond, Mississippi. Enviva sells most of its wood pellets through long-term, take-or-pay off-take contracts with primarily creditworthy customers in the United Kingdom, the European Union, and Japan, helping to accelerate the energy transition and to defossilize hard-to-abate sectors like steel, cement, lime, chemicals, and aviation. Enviva exports its wood pellets to global markets through its deep-water marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.
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ENERGY
AVANGRID | March 06, 2023
AVANGRID (a member of the Iberdrola Group), a sustainable energy company, has recently announced its intent to invest in solar trackers from Array Technologies (ATI), enhancing their partnership to the next level.
Through the equipment with safe harbor inventory and solar trackers, AVANGRID plans to construct a 321 MW True North solar array farm in Falls County, Texas, strengthening the State’s clean energy output.
Array Technologies is a trusted supplier of green energy equipment to AVANGRID and the Iberdrola Group, and this purchase is an additional step to their partnership. This partnership will continue to grow as AVANGRID expands its portfolio of a sustainable energy company in the U.S. This agreement was crucial to the final investment decision for the construction and expect to complete in 2024.
AVANGRID’s CEO, Pedro Azagra said, “We are very proud to announce this collaboration with Albuquerque, New Mexico based Array Technologies.” He added, “Projects like True North are crucial to decarbonization and will help the country reach its ambitious clean energy goals and help New Mexico grow industrial green energy jobs.”
(Source – Business Wire)
Array Technologies’ CEO, Kevin Hostetler said, “Array is honored to supply our industry leading DuraTrack solar trackers to AVANGRID for the True North solar farm.” He added, “Our durable and low maintenance trackers will help provide clean renewable energy for the Texas grid, ensuring the local community has reliable power for years to come.”
(Source – Business Wire)
About AVANGRID
Headquartered in Orange, Connecticut, AVANGRID, a sustainable energy solutions provider, offers services for electric distribution, utilities, gas distribution, electric transmission, renewable energy, onshore wind, and offshore wind. Its primary businesses are Avangrid Networks, serving electric and natural gas customers in the Northeast, and Avangrid Renewables, offering onshore and offshore renewable energy solutions in the U.S. With its ESG+F framework and the UN Sustainable Development Goals, it strives for diversity, equity and inclusion. JUST Capital has recognized its contribution to the environment and community well-being. The Ethisphere Institute named it one of the World’s Most Ethical Companies for three years.
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ENERGY, INDUSTRY UPDATES
Globenewswire | April 28, 2023
Shoals Technologies Group, Inc. and Shoals Technologies Group, Inc. and Brookfield Renewable announced a strategic partnership to introduce an innovative Charging-as-a-Service (“CaaS”) solution for electric vehicle (“EV”) charging infrastructure. This new product offering eliminates large up-front payments and enables streamlined deployment of charging networks for fleets, retail, multi-unit dwellings, and other large commercial properties.
Currently, EV charging infrastructure requires a large up-front capital investment in charging equipment, electrical infrastructure, and installation. Moreover, traditional installation of EV charging infrastructure with trenching results in months of disruption to site operations and can face significant technical and regulatory hurdles. These challenges have been a barrier to the deployment of EV charging at scale.
Shoals and Brookfield are partnering to introduce a breakthrough CaaS solution to address these issues. Building on previous collaborations between Shoals and Brookfield, this strategic partnership brings together Brookfield’s global scale as one of the largest fully integrated providers of distributed energy and renewable power solutions with Shoals’ industry-leading Fuel by Shoals® product offering, an above-ground EV charging infrastructure solution that reduces installation time and labor requirements while offering charger flexibility. Together, Shoals and Brookfield provide significant commercial, technical, and financing expertise to deliver full-service, end-to-end solutions for customers.
The CaaS solution will focus on C&I and public sector customers, EV solution providers, vehicle manufacturers, fleet operators, and other industry participants, to provide turnkey EV charging solutions with minimal cost and impact to customers. Subscribers will pay a monthly subscription fee over a fixed time period instead of paying costs upfront, freeing up capital for other core priorities. Additionally, the CaaS solution is technology-agnostic with respect to EV charger original equipment manufacturers (“OEMs”), and customers will have flexibility to choose EV chargers from various manufacturers that will best fit their needs across their real estate portfolios.
Customers will also have the option to include solar, battery energy storage, and other distributed energy products, drawing from Brookfield’s deep capabilities as a developer, owner, and operator of renewable energy assets. With the depth of our combined offering, each project will have a custom-tailored solution for each customer.
“This collaboration will lower the barrier of entry to the EV charging space by making infrastructure deployments less costly and more efficient,” said Jeff Tolnar, President of Shoals Technologies. “Coupling Brookfield’s financing and operating expertise with Shoals’ leadership in charging infrastructure, our combined CaaS offering will provide a solution for charge point operators looking to replace the necessary up-front capital investments with payments over time, while enabling faster EV charging deployment with minimal site disruption. We look forward to welcoming other EV charger OEMs, O&M, and EPC counterparties into our ecosystem.”
“Brookfield prides itself on partnering with companies like Shoals, a driving force behind the transition to renewable energy and clean electrification,” said Valerie Hannah, Managing Director at Brookfield Asset Management. “Our new collaborative solution is poised to be a game-changer and will accelerate EV charging infrastructure and clean energy deployments across the US, with Brookfield providing all capital needed to fund these projects.”
About Shoals Technologies Group, Inc.
Shoals Technologies Group, Inc. is a leading provider of electrical balance of system solutions and components for solar, battery storage and electric vehicle charging applications, selling to customers across the United States and internationally. Since its founding in 1996, the Company has introduced innovative technologies and systems solutions that allow its customers to substantially increase installation efficiency and safety while improving system performance and reliability. Shoals Technologies Group, Inc. is a recognized leader in the renewable energy industry whose solutions are deployed on over 20 GW of solar systems globally.
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