Construction starts on 140 MW Garob wind farm in South Africa

cceonlinenews | July 08, 2019

The wind power peoject being spearheaded by Enel Green Power will involve an investment of over 200 million euros. “With the start of construction of Garob, we have reached yet another important milestone in South Africa just weeks after breaking ground at the Oyster Bay wind project,” said Antonio Cammisecra, Head of Enel Green Power. “Alongside boosting renewables growth in South Africa, we are focusing our sustainability activities on scientific education, which significantly contributes to the skills needed for power industry professionals, with a view to support local expertise. Looking ahead, we will continue to break ground on the projects we were awarded in South Africa and to launch shared value initiatives for local communities, while scouting for further sustainable growth opportunities in the country’s renewable industry.” Garob wind farm is the third renewable project Enel Green Power has started building in South Africa since the beginning of this year, in line with its investment programme in the country. The other projects are the Nxuba and Oyster Bay wind farms, of 140 MW each, for a total capacity of 420 MW under construction in South Africa. Once fully operational, due by the first half of 2021, the 46-turbine Garob wind farm is expected to generate around 573 GWh per year, avoiding the annual emission of around 600,000 tons of CO2 into the atmosphere

Spotlight

The sun is a renewable source of energy. Using photovoltaic (PV) technology, we can convert that solar energy directly into electricity without causing harm to the environment. This can help solve today’s energy challenges. The sun provides as much energy in one hour as the world consumes in one year.

Spotlight

The sun is a renewable source of energy. Using photovoltaic (PV) technology, we can convert that solar energy directly into electricity without causing harm to the environment. This can help solve today’s energy challenges. The sun provides as much energy in one hour as the world consumes in one year.

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INDUSTRY UPDATES

AirCarbon Exchange Sees First Trades of Newly Launched Global Emission Reduction Contract

AirCarbon Exchange | June 21, 2022

AirCarbon Exchange (ACX) hosted the first trades of the newly launched Global Emission Reduction Contract, or GER, which aims to become the global reference price for voluntary carbon markets. The contract, which was created by Net Zero Markets, went live on ACX on Friday, June 17th, and traded at between $7.23 a tonne to $7.60 a tonne with Bioeconomy, who is led by Dorjee Sun, a TIME Magazine Hero of the Environment, as one of the first buyers. Its current bid/ask range is $7.65-$7.70. "The world is facing a climate catastrophe, so we need game-changing scale and speed in voluntary carbon markets, Bioeconomy is actively investing and developing large scale carbon projects and market innovations such as the GER. Bioeconomy was proud to be involved from the very outset of the new contract which can derisk and unlock liquidity for all stakeholders. The Net Zero Markets team have launched a great product that I can see quickly becoming the reference price for carbon offsetters." -Dorjee Sun The GER has been designed to tackle some of the problems with existing voluntary carbon markets by providing a single price for carbon, akin to the standardization and calibration provided by the European Union Emissions Trading Scheme for compliance markets. By combining the current mixture of standards, jurisdictions, project types and vintages into a single price, via four easy to understand sub-contracts that maintain price differentiation for harder to reach projects such as long-lived removals, the GER will help increase both liquidity and transparency in the often-opaque voluntary sector and make it much easier for corporates as well as small and medium-sized enterprises (SMEs) to offset the carbon emissions they are unable to reduce. "ACX continues to break new ground in the carbon space, The GER is a key innovation in order to streamline carbon trading. It provides a clear price of carbon which will, in turn, unlock investment into climate mitigating activities globally. We are excited to be an integral part of bringing this product to market." -William Pazos, Managing Director and Co-Founder of ACX. ACX is the first exchange to host this new contract as well as the four underlying products that the GER is comprised of. The four sub-contracts consist of the: Base Carbon Contract, or BCC, which covers the renewables and energy efficiency sector Forestry Carbon Contract, or FCC, which encompasses the agricultural, forestry and land use sectors Prime Carbon Contract, or PCC, for those projects with additional benefits that meet at least three of the United Nations Sustainable Development Goals. Carbon Capture Contract, or CCC, which covers projects that provide long-lived removal of carbon emissions, such as biochar projects. "We're obviously pleased that the GER was up and trading on its first day and pleasantly surprised by the positive interest that it has generated in such a short space of time, We've spent two years perfecting the GER and it ticks a lot of boxes for investors as well as the corporates and individuals that it was designed for." -Louis Redshaw, CEO of Net Zero Markets. About AirCarbon Exchange (ACX): AirCarbon Exchange (ACX) is a global exchange revolutionizing the voluntary carbon market. The exchange's client base comprises corporate entities, financial traders, carbon project developers and other industry stakeholders. ACX provides its clients with an efficient and transparent trading platform which is easy to use, frictionless and with the lowest commission fees available on the market. Its underlying technology will allow the carbon market to scale efficiently to meet global Net Zero ambitions. As of May 2021, ACX became the world's first carbon negative exchange, having offset its carbon emissions 12 months into the future (to May 2022) through the Onil Stoves Guatemala Uspantan project. ACX is committed to continuing to offset all of its emissions 12 months forward. In 2022, ACX was named as the 'Best Solution in Energy Trading' by Wired UK and Publicis Sapient at their Global EnergyTech Awards, which spotlighted the companies that are 'Winning the Race to Reinvent Energy'. About Net Zero Markets:  Net Zero Markets is a company dedicated to developing risk management tools, products and contracts in the global environmental space. Its benchmark Global Emission Reduction product will deliver the level of transparency and commoditisation needed for voluntary carbon markets to flourish, thereby allowing more finance to flow to the projects that are needed to achieve net zero targets. The company is led by Louis Redshaw, one of the founding figures of the global Carbon Markets. In 2006, he created a standard for trading Certified Emission Reduction (CER) carbon offsets that was adopted by all major market participants and the carbon exchanges. This initiative allowed a secondary trading market in CERs to take-off thanks to the establishment of liquidity and price transparency. Complementing Louis's deep knowledge and understanding of carbon markets, the wider team has a wealth of experience innovating and growing markets, with an emphasis on carbon and energy trading and risk management.

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INDUSTRY UPDATES

Genesis Ray Energy introduces the Site Suitability Module, which enables renewable energy companies to reduce site selection risk

Genesis Ray Energy | July 27, 2021

Genesis Ray Energy, a Singapore-based energy technology and research firm, has earned another feather to its cap. It just released the GenRay Site Suitability Mapping Module, a critical tool for evaluating and selecting the best site for renewable energy projects. The technology is especially useful in the current Covid-19 era, when large physical site surveys have become impractical. The Site Suitability tool allows for a virtual desktop survey of prospective sites on key parameters such as land use, soil bearing capacity, distance from transmission substations, road connectivity, site topographical features (such as slope), natural hazard susceptibility, and exclusion zoning details for any given location. Because it is dependable and simple to use, the new module addition saves site surveyors, consultants, and technical teams a significant amount of time, effort, and energy in obtaining, cleaning, and confirming data. With the combination of this module and GenRay EXPLORERTM, Genesis Ray has taken another step in providing high-quality data and analytics to renewable energy providers in order to assist error-free and cost-effective decision making. “We are devoted to adding more and more layers to our fundamental product to improve our value proposition,” says Irfan Choudhry, CEO of Genesis Ray Energy. Our technologies bring value at every level of the project life cycle, including pre-feasibility studies, operations, project-exit/sale, and assisting in making appropriate investment, repowering, and acquisition decisions.” Another module that assesses the resource potential of a wind or solar site and generates a probabilistic generation profile is also on cards. Genesis Ray is now offering a free trial access on its website to allow interested users to evaluate the benefits of its solutions. It also launched its webstore this month, where online users can choose from a number of pricing options and product packages to fit their needs. About Genesis Ray Energy GenRay EXPLORERTM presently covers assets with a combined capacity of 650GW, 38,500 wind turbines, 465,000 kilometres of transmission lines, and 35,000 kilometres of natural gas pipelines. Before being placed on the Genesis Ray platform, data from several primary and secondary sources is pooled, cross-validated, and optimised. The portal provides the most comprehensive and up-to-date database on the gas and electricity energy sectors in South and South East Asia.

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ENERGY

iSun Announces Investment in Encore Renewable Energy

iSun | November 30, 2021

iSun, Inc., a leading solar energy and clean mobility infrastructure company with 50-years of construction experience in solar, electrical and data services and a provider of proprietary electric vehicle charging platforms, announced it has reached a definitive agreement to make a strategic minority interest equity investment in Encore Renewable Energy, a leading innovator in community-scale clean energy and Top 20 US commercial solar developer. Highlights Investment to accelerate expansion of iSun’s Commercial, Industrial and Utility businesses into new geographic markets Provides collaboration opportunities across both parties’ project pipelines Extends Encore’s long-term experience as a registered B-Corp to iSun’s ESG initiatives Enables Encore to expand its geographic reach while advancing innovative clean energy solutions including solar + storage, brownfield redevelopment and dual land-use/agrivoltaics initiatives Further strengthens the long-standing relationship between two leading innovators in the community-scale clean energy sector. iSun’s investment aligns with its previously stated growth objectives. First announced in late 2019, iSun’s growth strategy highlighted the specific steps the Company would take to accelerate the nation’s transition to solar energy across all sectors. The investment compliments two of the strategy's key pillars - organic growth organic regional growth by expanding relationships with existing Industrial and Utility customers, and investment in companies capable of increasing project pipeline opportunities. This partnership reflects the progress we’ve steadily been making against our three-pronged strategy for growth. By deepening our long-standing relationship with Encore Renewable Energy, we will gain invaluable insights into new geographic markets which we can use to further advance our C&I strategy. Equally important: we will be strengthening a long-term relationship with a partner whose values and commitment to innovation mirrors ours. Encore’s experience in reclaiming undervalued real estate for clean energy generation and storage, and revitalizing communities with the deployment of agrivoltaic solutions illustrates their understanding of the challenges often associated with getting buy-in for community-scale clean energy development projects, and ultimately reduces barriers for solar adoption. As a Certified B Corporation and a values driven organization, Encore is a leader in creating a new industry standard. We’re proud to have them as a partner.” Jeffrey Peck, Chairman and Chief Executive Officer of iSun "This new infusion of capital from iSun will allow us to more than double our project development pipeline over the next 12 months," offered Chad Farrell, CEO and Founder of Encore Renewable Energy. "Deploying additional community-scale solar and solar + storage solutions across the Northeast and other strategic markets supports our ongoing work to accelerate the transition to a robust clean energy economy powered by low cost, carbon free renewable resources." About iSun Inc. Since 1972, iSun has accelerated the adoption of proven, life-improving innovations in electrification technology. iSun has been the trusted electrical contractor to Fortune 500 companies for decades and has installed clean rooms, fiber optic cables, flight simulators, and over 400 megawatts of solar systems. The Company has provided solar EPC services across residential, commercial & industrial, and utility scale projects and provides solar electric vehicle charging solutions for both grid-tied and battery backed solar EV charging systems. iSun believes that the transition to clean, renewable solar energy is the most important investment to make today and is focused on profitable growth opportunities. About Encore Renewable Energy Encore Renewable Energy is a Burlington, Vermont-based leader in commercial renewable energy with a proven track record in solar development from concept to completion. Founded in 2007 as Encore Redevelopment, their team specializes in the design, development, financing, permitting, and construction of solar and energy storage projects on landfills, brownfields, rooftops and carports. As a values-led company, Encore is committed to revitalizing communities and creating a cleaner, brighter future for all.

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