businesswire | August 31, 2023
Avangrid, Inc. a leading sustainable energy company and part of the Iberdrola Group, has announced a pilot project with LineVision, Inc. to unlock additional capacity on its transmission lines for renewable energy in New York state. The project will deploy advanced monitoring for overhead transmission lines in the Hornell, N.Y. area with the goal of reducing grid congestion by providing real-time data on where additional power can safely flow through the existing transmission infrastructure. This critical data and visibility could aid in linking more renewable energy resources into New York’s electrical grid and supporting the state’s clean energy goals.
The amount of energy that electric transmission lines can safely carry is variable. Historically, the lines have been operated using “static” line ratings that tell grid operators a lines’ energy capacity based on conservative and fixed values for assumed weather conditions. However, now with LineVision’s advanced monitoring Avangrid will be able to see real-time data, allowing for more flexibility to safely increase the amount of energy flowing through the transmission lines based on current conditions. The advanced monitoring provides “dynamic” line ratings (DLR), which determine capacity limits of the power lines by combining real-time properties such as sag, temperature and forecasted weather conditions. This results in more informed grid operations and increased carrying capacity of the transmission lines without needing to make any large grid upgrades.
As part of the project, LineVision will partner with Avangrid’s electric utility operating company New York State Electric & Gas (NYSEG) to install non-contact LiDAR sensors to monitor overhead transmission lines, accelerating renewable energy adoption and progressing toward the state’s Climate Leadership and Community Protection Act (CLCPA) goals. The sensors will be installed on two of the company’s transmission lines: One runs from Elma (Erie County) to Strykersville (Wyoming County), and the other line runs from Warsaw to Perry (both in Wyoming County).
Funding for the project was awarded to Avangrid and LineVision through round two of NYSERDA’s Future Grid Challenge program. The program addresses a recommendation contained in a Department of Public Service order released in January 2022 for the deployment of advanced transmission and distribution technologies for improved transmission utilization while supporting New York’s CLCPA goal to achieve 70% renewable electricity by 2030.
Pedro Azagra, CEO of Avangrid said, “Decarbonizing our region and nation will require critical investments in transmission and distribution infrastructure. This pilot project is just one example of how we’re working to modernize the grid and enhance reliability and resiliency across our service areas for our customers. We’re proud to be making strategic and critical investments that will enable New York’s climate goals, help mitigate the impacts of climate change and increase access to renewable energy.”
Hudson Gilmer, CEO and co-founder of LineVision said, “We are thrilled to have been chosen to take part in this important project. By multiple accounts, we must double the size of the power grid to have any hope of meeting critical climate goals. Our technology has helped our utility customers identify between 25-40% additional capacity on existing lines which helps accelerate a transition to renewables. We are excited to work with Avangrid and NYSERDA to help optimize New York’s grid.”
Patricia Nilsen, president and CEO of NYSEG and RG&E said, “We have been an anchor institution in our communities for more than a century. We know that we have a critical role in building a smarter, more resilient network that will enable us to deliver clean energy to more customers. Investments in innovation like this are very exciting because it will benefit our customers in multiple ways.”
The CLCPA calls for an additional 10,000 MW of solar capacity and 9,000 MW of offshore wind capacity. These aggressive goals, as well as the goals set forth by the recently passed Inflation Reduction Act, would likely cause significant congestion on transmission lines. To ensure reliability of the system, reduce cost of congestion, and allow faster integration of renewables, implementation of DLR solution could play a vital role.
Avangrid, Inc. aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $41 billion in assets and operations in 24 U.S. states, Avangrid has two primary lines of business: networks and renewables. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, Avangrid owns and operates a portfolio of renewable energy generation facilities across the United States. Avangrid employs more than 7,500 people and has been recognized by JUST Capital in 2021, 2022 and 2023 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2023, Avangrid ranked first within the utility sector for its commitment to the environment. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2023 for the fifth consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A.
LineVision provides electric utilities with the real-time monitoring and analytics needed to accelerate the net zero grid. LineVision’s patented non-contact sensors collect critical information to unlock additional capacity on existing lines, provide insight into conductor health, and detect anomalies and risks. LineVision’s platform is rapidly deployed at scale without the need for scheduled outages, live line work, or specialized installation equipment. LineVision is helping our utility partners around the world lead the energy transition by increasing the capacity, resilience, and safety of the grid.
Energy, Industry Updates
PRNewswire | August 17, 2023
Origis Energy, one of America's leading renewable energy platforms, announced today the close of a $750 million construction warehouse facility. The facility will fund large scale solar and energy storage project construction totaling approximately 2 gigawatts (GW) across 15 states over the next three years.
Today's announcement follows the March 2023 close of an upsizing amendment to the company's $750 million development finance facility.
The new warehouse facility will fund the construction of solar, storage and colocated solar plus storage projects, with expected completion dates up to 2026. Power Purchase Agreements, serving a variety of utility and corporate clients, have been secured on all assets. Origis is in development on an industry leading clean energy pipeline which currently stands at 18 GW of solar and 36 GWh of storage capacity. The company is active in 31 states to date.
"Origis is in an unprecedented growth cycle fueled by customer demand and the Inflation Reduction Act," said Guy Vanderhaegen, Chief Executive Officer & President, Origis Energy. "Advancing construction of our renewable energy pipeline is a top priority, one served by this new financing. The arrangement also demonstrates the continued trust of the financial community in our team. We thank Santander, Rabobank, and Natixis for their collaboration. Together we are delivering clean, cost-effective energy to our customers."
Santander Corporate and Investment Banking was the structuring agent, green loan coordinator and coordinating lead arranger. They were joined by Rabobank and Natixis Corporate & Investment Banking, who served as coordinating lead arrangers, hedge providers, and letter of credit issuers.
"Santander is very pleased to be supporting Origis with this strategic financing that will provide an efficient and innovative means of financing their project pipeline and help unlock the Company's future growth. This transaction is an example of Santander's ongoing commitment to the financing of green projects," said Andrew Platt, Head of Structured Finance US, Santander Corporate and Investment Banking.
Rabobank is a premier corporate and investment bank to the food and agribusiness industries and an energy transition leader through the renewable energy sector. Natixis CIB is a leading global financial institution that provides advisory, investment banking, financing, corporate banking and capital markets services to corporations, financial institutions, financial sponsors and sovereign and supranational organizations worldwide.
Origis Energy is majority owned by funds managed by Antin Infrastructure Partners.
Latham and Watkins represented Origis Energy in the transaction. Norton Rose Fulbright acted as lenders' counsel.
About Origis Energy
Origis Energy is bringing clean and cost-effective solar, energy storage and clean hydrogen solutions within reach for utility, commercial and industrial as well as public sector clients. The Origis team has worked to ensure the interests of all stakeholders are upheld in 170 projects worldwide totaling more than 5 GW to date of developed solar, energy storage and clean hydrogen capacity. Headquartered in Miami, FL, Origis Energy delivers excellence in solar, energy storage and clean hydrogen development, financing, engineering, procurement, and construction (EPC) and operations, maintenance and asset management for investors and clean energy consumers in the U.S. Visit Origis Energy here.
About Antin Infrastructure Partners
Antin Infrastructure Partners is a leading private equity firm focused on infrastructure. With over €30 bn in assets under management across its Flagship, Mid Cap and NextGen investment strategies, Antin targets investments in the energy and environment, digital, transport and social infrastructure sectors. With a presence in Paris, London, New York, Singapore and Luxembourg, Antin employs over 200 professionals dedicated to growing, improving and transforming infrastructure businesses while delivering long-term value to portfolio companies and investors.
Xylem Inc. | September 22, 2023
Xylem Inc. and LORENTZ have entered into a strategic distribution agreement.
The collaboration accelerates the adoption of renewable energy sources for water management, contributing to a more sustainable and cost-effective approach.
The partnership enhances Xylem's product portfolio with innovative technology, advancing decarbonization in the water sector.
Xylem Inc., a prominent global water technology solutions provider, and LORENTZ, a renowned German manufacturer specializing in solar water pumps, have jointly announced a strategic distribution agreement aimed at expanding the global accessibility of solar-powered pumping systems. These innovative and sustainable pumping solutions find widespread use in agriculture, irrigation, and drinking water applications. They play a pivotal role in enabling water managers to address decarbonization objectives while simultaneously reducing operational expenses.
The escalating frequency of climate-related droughts and extreme weather events has placed considerable strain on water resources, compelling communities to seek solutions that not only ensure a consistent water supply but also facilitate the transition to cleaner and more energy-efficient systems. Solar-driven pumping technology harnesses renewable energy sources to deliver sustainable and dependable water solutions, even in remote and off-grid locations.
This strategic collaboration represents a significant expansion and enhancement of the sustainable pumping offerings from both Xylem and LORENTZ. Under the terms of this agreement, Xylem will leverage the combined strengths of both companies' solutions, with LORENTZ providing solar-powered and solar/grid hybrid pumping systems to Xylem. Furthermore, LORENTZ's cutting-edge technology will augment solutions in Xylem's existing product portfolio, and the two organizations will work in sync to develop innovative new products under the Xylem brand. Notably, both Xylem and LORENTZ will continue to serve their respective market segments and uphold their existing distribution networks.
Franz Cerwinka, Senior Vice President and President of Applied Water Systems and Business Transformation at Xylem commented,
Innovative technologies offer new ways to protect and optimize water while reducing greenhouse gas emissions. LORENTZ's technology is a perfect example.
[Source – Business Wire]
He further explained that this collaboration offers Xylem's customers novel sustainable pumping solutions, assisting them in achieving decarbonization goals and implementing cost-effective, efficient, and resilient water management practices.
Bernt Lorentz, LORENTZ's founder and chief executive, stated that the movement of liquids constituted a highly energy-intensive activity. Employing solar power and solar/grid hybrid connections could aid customers in pursuing their sustainable energy objectives through the use of renewable energy sources. Lorentz further expressed enthusiasm about teaming up with Xylem to contribute to the acceleration of the water sector's progress toward achieving net-zero emissions.