Duke Energy | January 31, 2022
Continuing its efforts to grow renewable energy in North Carolina, Duke Energy Sustainable Solutions, a nonregulated commercial brand of Duke Energy, recently began commercial operation of two major solar facilities in the state.
The 50-megawatt (MW) Broad River Solar power plant in Cleveland County
The 22.6-MW Speedway Solar power plant in Cabarrus County
Even with the 2021 challenges of COVID-19 and supply chain constraints, our team remained focused and delivered these projects on time. We could not have completed these projects without the support of our vendors and the people of Cleveland and Cabarrus counties."
Chris Fallon, president of Duke Energy Sustainable Solutions
The facility's design, procurement of inverters, balance of plant systems and construction of the project were performed by Swinerton. The solar power generated by both projects will be delivered through 20-year power purchase agreements. Together, the projects can power about 15,000 homes during a year.
North Carolina is fourth in the nation for overall solar energy. The outlook is promising for more solar energy in the future with the passage of the Energy Solutions for North Carolina (HB951) law in 2021.
"Solar power is a major focus for Duke Energy as we target 70% carbon reduction by 2030 in North Carolina and net-zero carbon emissions by 2050 under HB951," said Stephen De May, Duke Energy's North Carolina president. "We expect solar to play a leading role in our clean energy future."
A leader in renewable energy
Duke Energy is leading the largest clean-energy transformation in the United States. It maintains more than 4,100 MW of solar power on its energy grid in North Carolina, which could power about 800,000 homes and businesses at peak output. The company also operates more than 40 solar facilities in the state. With nuclear, hydro and renewable energy, more than half of North Carolina's energy mix is carbon-free.
Duke Energy Sustainable Solutions
Duke Energy Sustainable Solutions is a nonregulated commercial brand of Duke Energy – a Fortune 150 company and one of the largest energy holding companies in the U.S. – headquartered in Charlotte, N.C.
Duke Energy Sustainable Solutions is a leader in sustainable energy, helping large enterprises reduce power costs, lower emissions and increase resiliency. The team provides wind, solar, resilient backup power and managed energy services to over 1,000 projects across the U.S., with a total electric capacity of more than 5,100 megawatts of nonregulated renewable energy. Visit Duke Energy Sustainable Solutions and follow on LinkedIn and YouTube for more information.
Duke Energy is executing an aggressive clean energy strategy to create a smarter energy future for its customers and communities – with goals of at least a 50% carbon reduction by 2030 and net-zero carbon emissions by 2050. The company is a top U.S. renewable energy provider, on track to operate or purchase 16,000 megawatts of renewable energy capacity by 2025. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues.
Arevon | August 31, 2021
Nextracker, the market leader in yield-enhancing PV system technology and solar trackers, today announced that Arevon Energy, Inc., has selected Nextracker for its upcoming 1.5 gigawatt (GW) portfolio of projects in Indiana and Nevada. Nextracker will supply NX Horizon™ smart solar trackers with TrueCapture™ and NX Navigator™ software and control systems for advanced monitoring, control, and asset management.
Indiana will host five of these solar power plants: Elliott (200 megawatt [MW]), Gibson (280 MW), Ratts 1 and Ratts 2 (both 150 MW), and Posey (300 MW). The 250 MW Citadel project will be located outside of Reno, Nevada. The U.S. Secretary of Energy Jennifer M. Granholm and Rep. Susie Lee recently toured the seventh site in the portfolio, the 232 MW Townsite plant in Boulder City, Nevada.
"We're excited to partner with Nextracker and use their state-of-the-art technology in this latest portfolio of solar projects," said Justin Johnson, Arevon's Executive Vice President and Chief Operating Officer. "Nextracker was our first choice to help standardize construction practices across the portfolio and create efficiencies and greater cost savings. We have already seen Nextracker's TrueCapture software boost energy gains by 2.72% at one of the solar projects we service, so we have direct experience with this innovative solution and how it can add value to every project in the portfolio."
"Sophisticated asset managers and project developers like Arevon know the importance of standardizing their utility-scale solar projects with advanced data monitoring and optimization software," said Ryan Booth, Nextracker's Vice President of Utility Sales. "Our partnership with Arevon highlights how the future of solar development will leverage system standardization to improve project value in an increasingly competitive sector."
Both Indiana and Nevada are poised for significant solar growth. Data from the Solar Energy Industries Association (SEIA) projects close to 5 GW of solar will be installed in Indiana over the next five years, ranking the state's pipeline as the sixth largest in the country. SEIA estimates that Nevada, ranked seventh, will install more than 4 GW over the same period. These seven projects totaling more than 1.5 GW will be key to these two states meeting their renewable energy goals. They are all expected to be operational by the end of 2023.
Standardizing tracker and software technology across multiple renewable energy project sites increases the overall efficiency of the portfolio while mitigating risks and reducing the potential for failures. This efficiency boost is accomplished by locking in the system designs and component procurement in advance, which creates seamless and turnkey installation and commissioning. Additionally, Arevon's license of TrueCapture software will boost power production, and NX Navigator's monitoring and control system will actively minimize risk from increasingly prevalent extreme weather.
Nextracker is a leader in the renewable energy transition. It provides critical, yield-enhancing solar technology, expertise and strategic services to capture the full system value and maximize the efficiency of solar power plants. Delivering the most comprehensive portfolio of intelligent solar tracker and control software solutions for system owners, Nextracker is transforming plant performance with smart technology, data monitoring and analysis services.
Arevon Energy, Inc., is a leading renewable energy company with roots as one of the largest renewable asset managers in the United States. Arevon's financial prowess and industry expertise come together to improve the structure and performance of clean energy assets across North America. Headquartered in Scottsdale, AZ, and New York City, Arevon uses innovative approaches and leading-edge technology to provide commercial, financial, performance asset management, and construction services to nearly 10 GWac of renewable energy assets delivering clean energy to utilities and corporations.
PSP Investments | February 15, 2022
The Public Sector Pension Investment Board (PSP Investments), one of Canada's largest pension investment managers, announced the publication of its Green Bond Framework. Green Bonds will provide a new tool in PSP Investments' toolkit to support strong financial performance and responsible investment outcomes.
PSP Investments' Green Bond Framework is aligned with existing standards in green bond and sustainable debt markets. It has been awarded an environmental rating of "Medium Green" and the highest possible governance score of "Excellent" by CICERO Shades of Green. CICERO Shades of Green is internationally recognized as a leading provider of independent reviews of green bond frameworks and provides an independent assessment of the processes established to assess and select eligible projects for green bond investments.
In addition to equipping PSP Investments with a new financing vehicle that is expected to broaden our investor base, the Green Bond Framework supports our comprehensive climate strategy, which will be released in 2022. As a steward of retirement assets of over 900,000 contributors and beneficiaries, we have a longstanding practice of responsible investing as a means to better manage ESG risks and generate the long-term adjusted returns needed to achieve our mandate."
Neil Cunningham, President and Chief Executive Officer at PSP Investments
The Green Bond Framework will enable PSP Investments to answer increasing investor demand for sustainable debt products. Eventual Green Bond proceeds will be used to fund projects with high environmental impact or those where environmental performance will be improved over time, in the following categories:
Pollution prevention and control
Environmentally sustainable management of living natural resources and land use
Sustainable water and wastewater management
Circular economy adapted products, production technologies and processes
About PSP Investments
The Public Sector Pension Investment Board (PSP Investments) is one of Canada's largest pension investment managers with C$204.5 billion of net assets under management as of March 31, 2021. It manages a diversified global portfolio composed of investments in public financial markets, private equity, real estate, infrastructure, natural resources and credit investments. Established in 1999, PSP Investments manages and invests amounts transferred to it by the Government of Canada for the pension plans of the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong.