Enfinity Global | September 25, 2023
Enfinity Global Inc., a prominent player in the renewable energy sector, has announced its acquisition of 546 MW of solar assets currently under development from CS Energy in the State of Colorado. This strategic move represents a significant step forward in Enfinity's ongoing efforts to execute its long-term business strategy within the United States. Moreover, this acquisition exemplifies the value Enfinity brings to developers, who regard the company as a trusted partner capable of aligning capital and accessing the global supply chain, thereby gaining a competitive advantage in terms of cost efficiency and reliability.
The acquired portfolio comprises three solar projects in Colorado, a highly appealing solar market that has mandated 100% renewable energy generation by 2050. This portfolio complements Enfinity's existing development footprint within the Western Electricity Coordinating Council (WECC) and will be seamlessly integrated into the company's in-house development processes and team. It is anticipated to yield an annual recurring EBITDA of approximately $59 million with investment-grade counterparties. Construction of these projects is slated to commence within the next two years, and once operational, they will generate 1,054 GWh of clean electricity annually—enough to power up to 57,000 US households and equivalent to removing 101,500 cars from the road.
Enfinity Global stands as one of the fastest-growing independent renewable energy power producers, boasting a global portfolio exceeding 17 GW, which includes 7.3 GW of energy storage assets and 1 GW of operational assets. Within the United States, Enfinity Global manages a portfolio of 400 MW and operates 28 solar PV power plants across California, Idaho, and North Carolina. Furthermore, the company possesses 6 GW of solar and storage assets in various stages of development throughout the country. Over the past year, Enfinity has successfully secured $380 million of capital in the United States, further solidifying its market position.
Enfinity continues to fortify its presence in the market by leveraging its fully integrated platform, deploying operational expertise across the entire renewable energy value chain, and extending its international footprint.
About Enfinity Global
Enfinity Global Inc. is a leading US-based renewable energy and sustainability services firm established in 2018. The company has a portfolio of 17 GW of renewable energy production and storage projects, encompassing operational assets, projects under construction, and those in various stages of development. With a global presence spanning the United States, Europe, and Asia, Enfinity aims to play a substantial role in the transition to a net-zero carbon-sustainable economy. Enfinity's leadership team, recognized as one of the most experienced in renewables globally, brings over $37 billion of financing experience within the renewable energy sector and a track record of developing and acquiring over 15 GW of solar and wind assets.
About CS Energy
CS Energy is an industry-leading engineering, procurement, and construction (EPC) firm specializing in renewable energy. The company designs and builds optimized projects in solar, energy storage, and emerging energy industries. With a successful track record of designing and installing over 1.5 GW of solar and 470 MWh of energy storage projects across the United States, CS Energy is a trusted partner for solar developers, independent power producers (IPPs), utilities, off-takers, suppliers, and landowners. As part of American Securities, a leading US private equity firm, CS Energy leverages strong industry relationships to streamline project development, reduce costs, and create value for all stakeholders in the long term.
EVLO Energy Storage Inc. | October 09, 2023
EVLO Energy Storage Inc., a subsidiary of Hydro-Québec and a prominent provider of fully integrated battery energy storage systems, has recently announced a significant development. EVLO has entered into an equipment supply agreement with SolarBank Corporation, an independent developer specializing in renewable energy projects, particularly in distributed and community solar initiatives. This agreement entails the provision of EVLOFLEX battery energy storage systems (BESS) for three of SolarBank's engineering, procurement, and construction (EPC) projects situated in Ontario.
Dr. Richard Lu, Chief Executive Officer of SolarBank, commented,
We are pleased to move forward on constructing our first energy storage projects with EVLO, a leader in the Canadian battery storage industry.
[Source – Business Wire]
He further mentioned that their main concerns revolved around safety and durability and expressed confidence that the EVLOFLEX would meet both of these criteria.
These projects, strategically located within the province of Ontario, mark an expansion of SolarBank's growing renewable energy construction portfolio across both Canada and the United States. EVLO's contribution to each of these projects will consist of a 5 MW / 20 MWh EVLOFLEX system.
SolarBank is overseeing the construction of these projects on behalf of Solar Flow-Through Funds, two First Nations communities, and a third-party developer in Ontario. These projects have received the green light from Ontario's Independent Electricity System Operator (IESO) under the province's Expedited Long-Term 1 (E-LT1) Reliability Procurement program for battery storage solutions.
The projects are poised to enhance grid reliability by actively participating in Ontario's capacity markets strategically injecting power into the grid during peak demand hours to effectively manage energy consumption in a sustainable and cost-efficient manner. Beyond bolstering grid reliability, participation in the IESO capacity market opens doors to new revenue-generating opportunities. The commissioning of the BESS for these three projects is anticipated to be completed by the summer of 2025.
About EVLO Energy Storage Inc.
EVLO Energy Storage Inc. is a leading provider of fully integrated battery energy storage systems and solutions. As a subsidiary of Hydro-Québec, North America's largest renewable energy producer, EVLO offers utility-scale systems, advanced control software, and comprehensive commissioning, monitoring, and system management services, all of which deliver exceptional performance, safety, and reliability. EVLO's world-class solutions are backed by decades of research and development, and its dedicated team of industry experts is passionate about collaborating with customers to create a cleaner and more resilient energy future.
Business Wire | October 19, 2023
Power Integrations™ the leader in high-voltage integrated circuits for energy-efficient power conversion, is providing advanced PowiGaN™ gallium-nitride (GaN) technology, expert design support, and financial sponsorship for Team aCentauri in the 3,000 km Bridgestone World Solar Challenge later this month. Power Integrations’ Mr. Green will follow Team aCentauri and the 37 other entrants across the Australian Outback as they push the boundaries of innovation in efficiency, aerodynamics, speed and range for solar-powered cars.
said Trevor Hiatt, director of marketing at Power Integrations.
After studying Power Integrations’ extensive list of reference designs, Team aCentauri asked us to help them design a power converter based on the 750-volt, InnoSwitch™3-EP with PowiGaN technology “With our IC and expert design support, the team not only boosted energy efficiency to 95.7 percent while the system operates at maximum power, but also improved efficiency by more than 50 percent while the system drives light loads – which is most of the time.
[Source – Business Wire]
The Bridgestone World Solar Challenge begins in Darwin on October 22 and is expected to conclude in Adelaide on October 29. To follow the race, get stories about Team aCentauri and their car, and learn more Power Integrations’ energy efficient solutions, visit Mr. Green’s Blog, Power Integrations’ YouTube channel or follow and use hashtag #PowiGaNVan in social media.
About Power Integrations
Power Integrations, Inc. is a leading innovator in semiconductor technologies for high-voltage power conversion. The company’s products are key building blocks in the clean-power ecosystem, enabling the generation of renewable energy as well as the efficient transmission and consumption of power in applications ranging from milliwatts to megawatts.
PR Newswire | October 04, 2023
Cordia, a leading provider of safe, reliable, and sustainable energy solutions, today announced that it has signed a binding agreement to acquire three microgrids and district energy systems in Allegheny County, Pennsylvania, from Essential Utilities, Inc. The acquisition is valued at $165 million.
The three energy systems included in the agreement are
The Pittsburgh International Airport Microgrid, the first of its kind, which allows the airport to operate independent of the electric grid thanks to a 21.25 MW natural gas power plant, making PIT one of the most resilient airports.
The district energy system at Allegheny Health Network (AHN) – Wexford Hospital, which provides the 160-bed hospital with all heating, cooling, and primary power needs via steam boilers, hot water boilers, chillers, and a 2.0 MW natural gas generator, along with emergency backup power. The Allegheny County District Energy System, which provides efficient and resilient steam and hot water services to six government buildings including the
Allegheny County Courthouse and City-County Building, using seven state-of-the-art steam boilers and one domestic water heater.
"We are excited to acquire these three energy systems,"
said Cordia CEO Earl Collins.
They are a perfect fit for our portfolio and will help us to further our mission of providing safe, reliable, and sustainable energy solutions to our customers. We look forward to working with the Pittsburgh International Airport, Allegheny Health Network, and Allegheny County teams to ensure a smooth transition and continue providing excellent service to their customers.
[Source: PR Newswire]
The acquisition is a strategic move for Cordia. The acquisition expands the firm's presence in the Pittsburgh region where it currently operates energy systems in Pittsburgh's Uptown and North Shore neighborhoods, and the on-campus energy system for Duquesne University. Cordia's assets have been operating in the region since 1964, and its existing investments in the area allow Cordia to deliver the most efficient solutions to its customers. This acquisition is a testament to Cordia's commitment to growing its regional presence and building on its existing customer base.
The three energy systems were developed by Essential subsidiary Peoples, leveraging Southwestern Pennsylvania's abundance of natural gas to deliver safer, more reliable and more resilient energy to some of the region's most critical institutions. All three began operating in 2021.
"Our teams at Peoples and Essential should be proud knowing their work to develop these innovative energy systems has made this region better," said Essential Utilities CEO & Chairman Chris Franklin. "Selling these unregulated assets to a skilled operator in Cordia allows us to focus more fully on our core business as a regulated utility."
"We are confident our customers will be in good hands with Cordia operating these energy systems," said Peoples President Mike Huwar. "Our team looks forward to providing clean, safe, affordable and reliable natural gas service to all three projects for years to come."
"This acquisition is a demonstration to Cordia's commitment to providing innovative energy solutions to our customers and growth in the Pittsburgh area," said Collins. "We are proud to be a part of this community and continue to work with our partners to build a more resilient and sustainable energy future for Pittsburgh."
The transaction is subject to various closing conditions and regulatory approvals and is expected to close in late 2023 or early 2024.
Cordia is a leading provider of safe, reliable, and sustainable energy solutions. Headquartered in Phoenix, AZ, Cordia serves over 700 customers with heating, cooling, and electricity throughout the U.S. Cordia is committed to driving change toward a more resilient, sustainable energy future and empowering people and communities to reach their full potential. Learn more at www.cordiaenergy.com.
Essential Utilities, Inc. delivers safe, clean, reliable services that improve quality of life for individuals, families, and entire communities. With a focus on water, wastewater and natural gas, Essential is committed to sustainable growth, operational excellence, a superior customer experience, and premier employer status. We are advocates for the communities we serve and are dedicated stewards of natural lands, protecting more than 7,600 acres of forests and other habitats throughout our footprint.