SOLAR+STORAGE

Scatec and partners sign PPA and start construction activities at the Mendubim solar project in Brazil

Scatec ASA | July 11, 2022 | Read time : 02:58 min

Scatec and partners sign PPA
Scatec ASA, a leading renewable energy solutions provider, is starting construction activities together with partners for the Mendubim solar project in the state of Rio Grande do Norte in Brazil, one of the largest energy producing countries in the world.

The 531 megawatt (MW) solar project is Scatec’s second project in Brazil and is being realised in partnership with Equinor ASA and Hydro Rein. The companies have signed a 20-year USD-denominated power purchase agreement (PPA) with Alunorte, one of the world’s leading suppliers of alumina for the aluminium industry, for approximately 60 per cent of the expected power produced. The remaining volume will be sold in the Brazilian power market. The partners are now placing orders for key components and starting site preparation activities.

The estimated total capital expenditure (capex) for the project is USD 430 million to be financed by a mix of non-recourse project debt and equity from partners. Financial close and the first disbursement of project finance debt are expected within the end of 2022.

“This investment is a key milestone in delivering on our strategy and will strengthen our position in a major renewable energy growth market with strong partners including Equinor and Hydro Rein. Brazil’s solar energy market is expected to further accelerate, and we are pleased to move ahead with this exciting project, that will help to power 620,000 households in Brazil.

-Scatec CEO Terje Pilskog.

Brazil is leading the way within solar energy in Latin America, and we are very pleased to take part in this development together with Equinor and Scatec. Mendubim enables further decarbonisation of Alunorte, which is key to reach Hydro’s target of a 30% CO2 reduction by 2030,” says Olivier Girardot, Head of Hydro Rein.

All three partners have an equal economic interest of 33.3% in the project and will jointly provide Engineering, Procurement and Construction (EPC) services. Scatec will provide Operation & Maintenance as well as Asset Management services to the power plants together with the partners.

About Scatec ASA
Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy in high growth markets. As a long-term player, we develop, build, own and operate renewable energy plants, with 3.5 GW of installed capacity across four continents today. We are targeting 15 GW of renewable capacity to be in operation or under construction by the end of 2025, delivered by our 600 passionate employees who are driven by a common vision of 'Improving our Future'.  Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’. To learn more, visit www.scatec.com or connect with us on LinkedIn.

About Hydro Rein
Hydro Rein was established in 2021 as part of Hydro’s strategy to grow in renewables. The company aims at becoming the preferred supplier of renewable power and other energy solutions for industrial clients. Hydro Rein has a significant pipeline of wind and solar projects in Brazil and the Nordics for long-term power supply to Hydro and other industrial offtakers. Hydro Rein is also developing a range of energy solutions to assist industries with the management and optimization of its energy consumption and storage behind-the-meter.This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

Spotlight

We're at the Responsible Business Forum in Singapore right now, talking about how to make renewable energy bird-safe.

Spotlight

We're at the Responsible Business Forum in Singapore right now, talking about how to make renewable energy bird-safe.

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ENERGY,PRODUCTS

Enphase Energy Expands IQ8 Microinverter Deployments in New Jersey

Enphase Energy | August 16, 2022

Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, announced today that installers of Enphase® products in New Jersey have seen growing deployments of Enphase Energy Systems powered by IQ8™ Microinverters following the product’s launch in North America late last year. IQ8 Microinverters paired with Enphase’s industry leading IQ™ Batteries give homeowners more energy resilience as experts predict an above-normal Atlantic hurricane season this year. According to the most recent U.S. Solar Market Insight report from Wood Mackenzie and the Solar Energy Industries Association, residential solar deployments in New Jersey are predicted to reach over 134 MW in 2022, representing growth over the last decade of more than 200 percent. Additionally, residential battery capacity in New Jersey is increasing steadily year-over-year with forecasts estimating deployments will grow more than three-fold by the end of 2026, according to the most recent U.S. Energy Storage Monitor report from the Energy Storage Association and Wood Mackenzie. Homeowners in New Jersey that are making the switch to solar are looking for overall value, including energy savings, sustainability, and resilience, said Eric Yablonsky, president at Powerlutions, an installer of Enphase products. “As an installer committed to excellence, we’re proud to offer our customers the highest value with the IQ8-based Enphase Energy System that unlocks value from the sun, even when the grid is down, with or without a battery. “With increasingly common extreme weather scenarios resulting in power outages, our customers in New Jersey, Pennsylvania, and Connecticut are looking for a high-performance and dependable solution that allows them to power their lives independent from the grid, The IQ8 Microinverter has the unique ability to create its own microgrid which gives homeowners the ultimate peace of mind. Enphase is powering the next-generation of clean energy and backup power for our customers." -Eric Dornfeld, president at Green Power Energy, an installer of Enphase products. Enphase’s revolutionary IQ8-based systems can provide Sunlight Backup™ functionality during an outage, even without a battery. For homeowners who want battery backup, there are no sizing restrictions on pairing Enphase IQ Batteries with IQ8 Microinverters. In addition, with the Sunlight Jump Start™ feature, IQ8 Microinverters can restart a home energy system using sunlight only after prolonged grid outages that may result in a fully depleted battery. This eliminates the need for a manual restart of the system and gives homeowners even greater resilience. Enphase IQ8 solar microinverters come with a 25-year limited warranty. “Enphase offers the full suite of home energy technology that make up the industry’s leading comprehensive solution for homeowners to add long-term value and sustainability to their properties, Solar, an installer of Enphase products. “Now with IQ8 Microinverters, investing in a solar and battery storage system from Enphase gets homeowners solar-powered backup for extra resilience in the event of a grid outage.” -Christopher Poole, chief financial officer at EMT The IQ8 Microinverter system is the first in the world to be certified by UL, a global safety science leader, for the new North American safety and grid interconnection standards for connecting solar inverters, energy storage systems, and distributed energy resources to the grid. Enphase’s IQ8 Microinverters, paired with the IQ™ Combiner 4/4C and IQ™ Gateway, create the first complete residential DER system certified by UL. Enphase is proud to work with New Jersey’s leading installers to meet the growing demand for solar and battery backup systems,said Dave Ranhoff, chief commercial officer at Enphase Energy. As we continue our dedication to an excellent customer experience, including superior service, we’re working with our installer network in the state to help more homeowners and businesses ensure energy independence and leverage the full potential of solar to provide uninterrupted power supply. About Enphase Energy, Inc. Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped more than 48 million microinverters, and over 2.5 million Enphase-based systems have been deployed in more than 140 countries. For more information, visit https://www.enphase.com and follow the company on Facebook, LinkedIn and Twitter. © 2022 Enphase Energy, Inc. All rights reserved. Enphase, the "e" logo, IQ, IQ8, Sunlight Backup, Sunlight Jump Start, IQ Combiner, IQ Gateway, and certain other names and marks are trademarks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.For more information about Enphase IQ8 Microinverters and IQ Batteries, please visit the Enphase website.

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TRANSPORTATION

Tritium and Enel X Way Expand Partnership to Electrify Transportation as US Increases Funding

Tritium and Enel | August 18, 2022

Tritium DCFC Limited (Tritium) (Nasdaq: DCFC), a global leader in direct current (DC) fast chargers for electric vehicles (EVs), and Enel X Way, the Enel Group's global business line that offers smart EV charging solutions and services, announced the signing of a global framework agreement and first contract in the US, deepening Enel X Way's access to Tritium's fast charging hardware and software. Enel X Way is a global leader in smart EV charging solutions with over 380,000 charging ports worldwide.Under the agreement, Enel X Way will pair its JuiceNet software platform with Tritium's 175kW fast charger and a 50kW variant of the company's award-winning RTM to deliver smart fast charging solutions for fleets, automakers, utilities, and public charging sites along highways. The more than 250 fast chargers are expected to qualify for a tax credit that was recently modified and extended as part of the Inflation Reduction Act (IRA). Under the Alternative Fuel Vehicle Refueling Property Credit, commercial projects now qualify for a maximum incentive of 30% or $100,000 per charger (up from $30,000 per property), whichever is of lesser value. "The electrification of transportation requires the removal of key barriers to EV adoption, most notably access to charging, both at home and in public, This agreement will enable Enel X Way to expand its DC fast charging offering with Tritium's flexible, scalable, US manufactured DC fast chargers and infrastructure that makes deploying charging sites easier for businesses and cities.This fantastic partnership with Tritium will help Enel X Way meet the increasing demand for fast charging and achieve our mutual goal of electrifying transportation." -Chris Baker, Head of Enel X Way North America In the future, the companies intend to further expand their relationship to meet the National Electric Vehicle Infrastructure (NEVI) Formula Program objectives, which will support the Biden-Harris Administration's goal to develop a national network of 500,000 EV chargers. To meet NEVI demand, Enel X Way intends to deploy Tritium's Buy America-compliant PKM150 DC fast chargers. Tritium's PKM150 and RTM are expected to begin US production at the company's Tennessee factory this fall and meet the Federal Highway Administration's Buy America compliance requirement in the first quarter of 2023. As the world moves toward electrification at unprecedented speeds, it's imperative that our industry rises to the challenge to ensure everyone has access to fast and convenient EV charging,said Jane Hunter, Tritium CEO. "We believe that Enel X Way is an ideal company to accelerate deployment of our charging technology, as they have entities throughout the world and are well equipped and committed to the expansion of electric vehicle infrastructure. Through smart charging, utilities can manage and benefit from this growth while ensuring a reliable, balanced, and clean electric grid for all users. Enel X Way offers site hosts and partners a complete line of interoperable, hardware agnostic, OCPP compliant, SOC-2 compliant, smart grid EV charging solutions, meeting the highest industry standards. Tritium and Enel X Way have a long-standing business relationship with the common goal to decarbonize transportation, and this new agreement is the latest success in the companies' partnership. The companies plan to sign additional regional contracts to further expand access to fast charging around the world. In North America, Enel X Way is qualified for more than 60 commercial utility and state incentive programs, including 30 DC fast charging incentive programs. The Enel X Way software platform allows utilities to monitor and analyze demand from participating charging stations and manage charging to respond to and align with real-time grid conditions. Enel X Way has also received AICPA SOC 2® certification, which safeguards customer and driver data demonstrating its commitment to the highest cyber security standards. About Tritium Founded in 2001, Tritium (Nasdaq: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium's compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use.Tritium is focused on continuous innovation in support of our customers around the world. About Enel X Way Enel X Way is a global leader in smart electric vehicle charging solutions with over 380,000 charging ports worldwide, including roaming agreements. As a subsidiary of Fortune 200 renewable energy leader, the Enel Group, Enel X Way is committed to providing smart mobility solutions for drivers, businesses and partners to make driving electric simple. Enel X Way's flagship home charging station, the JuiceBox, has been named the "best EV charger overall" in 2022 by CNET, Car and Driver, This Old House, and Road & Track.

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ENERGY,INDUSTRY UPDATES

NuScale Power, Habboush Group and ENTRA1 form Strategic Alliance

NuScale Power | September 08, 2022

NuScale Power Corporation (NuScale) and Habboush Group (HG) have entered into an agreement forming a strategic alliance that establishes a “one-stop-shop” for the financing, investment, development, execution, and management of NuScale-powered projects and opportunities. This new globally-oriented, strategic alliance between NuScale and HG – along with energy transition platform ENTRA1 – aims to provide integrated capabilities for financing, investment, development, management and execution of large-scale assets and projects in connection with the rapidly growing global demand for NuScale’s premier clean energy solutions. “We are delighted to work with the Habboush Group and ENTRA1 as we continue to make progress toward delivering clean, reliable, and safe energy solutions to customers around the world, Our technology is critical to supporting the clean energy transition and we hope that this strategic partnership will increase access to our trailblazing SMR technology and the carbon-free electrical power that the world needs.” -NuScale President and Chief Executive Officer John Hopkins. As the world’s energy demand grows with a need for sustainable and reliable baseload production, NuScale’s technology can play a significant and multifaceted role in the global energy transition,” said W Habboush, CEO for HG. “We are looking forward to working with partners, stakeholders and financial institutions who share our interest and responsibility towards the future of the world’s energy transition and serving humankind. NuScale’s proprietary and innovative carbon-free baseload and load-following power solution, the NuScale Power Module™, is the only viable, near-term deployable U.S. advanced nuclear small modular reactor (SMR) technology. NuScale’s SMR technology is safe, reliable and scalable and the first and only to receive Standard Design Approval from the U.S. Nuclear Regulatory Commission. About NuScale Power NuScale Power (NYSE: SMR) is poised to meet the diverse energy needs of customers across the world. It has developed small modular reactor (SMR) nuclear technology to supply energy for electrical generation, district heating, desalination, commercial-scale hydrogen production, and other process heat applications. The groundbreaking NuScale Power Module™ (NPM), a small, safe pressurized water reactor, can generate 77 megawatts of electricity (MWe) and can be scaled to meet customer needs. NuScale’s 12-module VOYGR™-12 power plant is capable of generating 924 MWe, and NuScale also offers four-module VOYGR-4 (308 MWe) and six-module VOYGR-6 (462 MWe) power plants, as well as other configurations based on customer needs. Founded in 2007, NuScale is headquartered in Portland, Ore., and has offices in Corvallis, Ore.; Rockville, Md.; Charlotte, N.C.; Richland, Wash.; and London, UK. To learn more, visit NuScale Power's website or follow us on Twitter, Facebook, LinkedIn and Instagram. About ENTRA1 ENTRA1 is a private investment platform purpose-built to create value by addressing global transformations. ENTRA1 believes in supporting investments and developments that bring positive impacts to communities around the world with a focus on global energy, infrastructure and related technology sectors. As different parts of the world adopt new ways related to energy transition and sustainable infrastructure, ENTRA1 believes in contributing skillsets in origination, development, structuring, management and execution of proprietary large-scale global opportunities across the capital structure. (www.entra1.com) About Habboush Group HG is an international private asset management firm focused on developing, managing, operating and financing proprietary opportunities predominantly in energy and infrastructure sectors drawing on more than 40 years of experience and capabilities in executing projects. HG, along with its professional team, brings a history of strategically partnering and working with publicly-traded organizations and financial institutions. (www.habboushgroup.com)

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