Energy

Entergy Louisiana and Monarch Energy Boost Green Energy Infrastructure

Entergy Louisiana and Monarch
  • Entergy Louisiana and Monarch Energy have signed an MOU to enhance South Louisiana's energy infrastructure.
  • Entergy Louisiana will collaborate with Monarch Energy on a 300-megawatt green hydrogen electrolyzer project near Donaldsonville, Louisiana.
  • Monarch Energy's project is expected to create over 300 construction jobs and more than 44 permanent operational positions. 

Entergy Louisiana and Monarch Energy, a renowned company specializing in green hydrogen and electro-fuels initiatives, have entered into a memorandum of understanding aimed at advancing South Louisiana's energy infrastructure. Under this agreement, Entergy Louisiana will collaborate with Monarch Energy to capitalize on existing transmission infrastructure and potentially construct new generation resources. This joint effort aims to provide a stable supply of long-term renewable power to Monarch's ambitious 300-megawatt green hydrogen electrolyzer project located near Donaldsonville, Louisiana.
 
Monarch Energy's hydrogen electrolyzer project represents a substantial potential investment, exceeding $400 million in Ascension Parish. The initiative is anticipated to generate over 300 construction jobs and create more than 44 permanent operational positions. Monarch Energy has initiated development activities in 2022 and envisions commencing commercial operations by 2027.
 
Ben Alingh, co-founder and CEO of Monarch Energy, commented,

Entergy Louisiana’s commitment to providing renewable power to industrial customers like Monarch Energy is a critical piece of advancing the Royale Electrolyzer project. Louisiana presents an excellent opportunity for green hydrogen production with the existing industrial workforce, development friendly local communities, and experienced industrial hydrogen consumers.

[Source: Entergy]
 
Entergy Louisiana enjoys a strategic locational advantage, being situated at the epicenter of South Louisiana's hydrogen production, storage infrastructure, and industrial customer base. Beyond providing dependable and secure power, the company recognizes the growing demand among new and emerging customers for access to renewable energy sources. To meet these evolving customer requirements and facilitate the state's economic growth, Entergy Louisiana recently submitted the largest-ever request for renewable power expansion to the Louisiana Public Service Commission. This request seeks approval to augment its generation portfolio with an additional three gigawatts of solar power.
 
Cumulatively, there are 3,225 megawatts of solar power projects in the approval pipeline for development, construction, and placement on the grid through agreements with Entergy Louisiana, representing a significant stride toward meeting the sustainability needs of both its current and future customers.
 
Phillip May, president and CEO of Entergy Louisiana, said,

We’re thrilled for the opportunity to bring this project to Louisiana. Our state is primed for an economic boom in the coming years, and this agreement will help foster that growth. Together with Monarch, we know we can build a stronger, more resilient Louisiana.

[Source: Entergy]

Spotlight

Other News
Market Research

New Project Media Acquires Energy Rev, Announces Expansion into Europe

PR Newswire | January 12, 2024

New Project Media (NPM), a rapidly growing renewable energy market data, intelligence, and events company, announced today its acquisition of Energy Rev, a London-based proprietary news service focused on renewable energy financing and M&A. The move will expand NPM's reach into Europe and provide a more comprehensive global offering to its development, finance, advisory & corporate clients. Since 2019, NPM has seen rapid growth in the U.S. across its market research offerings and its successful conference series. Post acquisition, NPM's global footprint is expanding to 35 employees and boasting a management team with over 70 years of combined experience in media, data and market research businesses including acquiring, integrating, and scaling top research and intelligence companies. "We are thrilled to announce our partnership with Energy Rev both from a growth and expansion perspective, and a strategic one. Peter Kneller has built a robust business as an ahead-of-the-curve resource in the European renewables space," said Ken Meehan, founder and CEO of NPM. "As NPM continues to lead in the renewable energy market research space, we will have quite a bit to roll out in 2024. European markets and partnering with Peter's team are significant pieces of that puzzle and we can't wait to get going together." NPM plans to expand its European content and commercial teams and integrate market data and research solutions specific to European clients, affording them access to new products that drive additional efficiencies and business development value. "Our acquisition of Energy Rev and expansion into the European market marks a significant opportunity for our customers and prospective customers. NPM has clients working across Europe, and similarly, many Energy Rev clients are interested in US opportunities so this promises to be a win-win for everyone," said NPM Chief Commercial Officer, Brett Birman. "Bringing Energy Rev in under the NPM umbrella marks a pivotal moment in the growth and sustainability of our business." Energy Rev founder & editor Peter Kneller has nearly fifteen years' experience covering European renewable energy financing and M&A. Co-editor Jon McNair has worked alongside Kneller for the past eight years with the duo sourcing and reporting solar, wind, storage & energy transition news across the UK, Spain, Italy, France, Germany and other European countries. "We found the right partner at the right time to further build on the actionable intelligence we're providing to our client base," said Energy Rev Founder, Peter Kneller. "I've seen data and intel companies come and go, but NPM's entrepreneurial spirit and client-centered focus are unmatched in the space. We are excited to continue building out European market solutions for our loyal clients and to provide them with exposure to best-in-class U.S. renewables data, market research and events to inform their businesses in broader and more meaningful ways." Fox Williams advised on the transaction, which officially closed on December 22, 2023. Terms of the acquisition were not disclosed. About New Project Media New Project Media (NPM) is leading market data, intelligence & events company serving developers, capital providers, advisors and corporates with exclusive coverage of utility-scale, distributed generation, and energy transition markets. NPM provides full lifecycle coverage and a unique view of the pre-NTP, development and interconnection queue landscape, helping clients identify new business development opportunities earlier and gain a competitive advantage, while also providing significant time savings & efficiencies through its market data. NPM also hosts industry events each year and produces industry podcasts.

Read More

Energy

Advanced Power Announces Investment Tax Credit Purchase

PR Newswire | January 03, 2024

Advanced Power continues to show its commitment to advancing a sustainable energy future through its purchase of renewable energy investment tax credits (ITC). The credits were made available through the development of rooftop solar facilities offered for sale by a third party. "Advancing a sustainable energy future drives our actions," said Advanced Power's CEO Tom Spang. "We are pleased to close this latest transaction, which supports our vision of a clean, reliable energy future." The 2022 Inflation Reduction Act (IRA) made the transfer of renewable energy tax credits possible. The IRA aims to accelerate the transition to a clean energy economy and drive increased deployment of new, clean electricity resources. Section 6418 of the Internal Revenue Code allows for the transfer (sale) of certain renewable energy tax credits from renewable energy project developers to a qualified third party. "Advanced Power is a developer, owner, and asset manager of modern power infrastructure and has now made a tax equity investment and completed a tax credit transfer transaction. We are positioned to execute similar transactions soon," added Spang. Reunion, a technology-enabled finance company that helps guide corporate tax teams through the clean energy tax credit transaction process, originated the opportunity for Advanced Power and facilitated the transaction between the parties. Advanced Power Focusing on Further U.S. Renewables Development Advanced Power manages all aspects of an energy project's life cycle, including development, construction, financial structuring, and operations. A robust renewables pipeline across Desert Southwest, ERCOT, PJM, and MISO is underway. Late-stage projects in the pipeline include: Eldora Energy – 240 MWdc solar with an additional 200MW/400MWh battery storage facility Alina Energy – 220 MWdc solar with an additional 200MW/400MWh battery storage facility Elio Energy – 300MW/600MWh battery storage facility Rock Rose Energy – 200MW/400MWh battery storage facility About Advanced Power Advanced Power is a privately owned global developer, manager, and owner of modern power infrastructure. The company develops low-carbon and renewable electric generating projects as an independent power producer. Advanced Power's successes include 11 gigawatts in development or operations in the United States and Europe. The company has offices in Boston and Houston, with a registered office in Zug, Switzerland. Founded in 2000, Advanced Power is focused on advancing a sustainable energy future, bringing reliable energy to places that need it, and providing economic benefits plus jobs to communities while making massive contributions to reducing CO2 emissions.

Read More

Energy

Eletopia Revolutionizes Energy Storage Solutions in the US

PR Newswire | January 15, 2024

Eletopia, a leading provider of smart energy storage solutions, is transforming the energy storage market with innovative technology. Integrating advanced battery management, energy conversion, and intelligent energy operation, Eletopia offers comprehensive solutions, redefining home energy management. In an era prioritizing energy reliability and sustainability, Eletopia's whole-house backup power solution will impact the power plans for U.S. homeowners. Providing security during outages, the H2 series Hybrid Inverter efficiently convert solar energy during low consumption periods. Through the B2 series High Voltage Battery and the mobile storage unit S36 series Portable Power Station, they stored electricity ensures uninterrupted power for essential household appliances, electronics, and systems. Eletopia's Smart Backup Unit (SBU) seamlessly switches between solar, grid, and generator power sources, ensuring continuous functionality. Eletopia's solution guarantees reliable backup power, keeping households operational. At the core of Eletopia's offering is the All-in-one Smart Energy Management System (EMS), empowering homeowners with complete control of their energy usage. Offering features like power station monitoring, AI diagnostics, AI Saving, and more, this system provides efficient energy management for every home. Eletopia prioritizes safety, efficiency, and profitability. Their solutions integrate power generation, energy storage, consumption, and operational services, amplifying the value of energy storage. Leveraging advanced battery management, energy conversion, and smart storage technology, Eletopia enables homeowners to optimize resources for a greener, sustainable future. Eletopia credits its success to a diverse team of American and global experts in the energy sector. From battery technologists to marketing specialists, their collective expertise ensures cutting-edge solutions tailored for American homeowners. Beyond innovation, Eletopia focuses on customer-centricity. Collaborating closely with clients, they address specific requirements, ensuring project success and seamless operation. This commitment, coupled with exceptional service, has established Eletopia as a trusted industry partner. About Eletopia: Eletopia specializes in comprehensive, smart energy storage solutions merging power generation, energy storage, consumption, and operational services. Our suite of cutting-edge technologies—advanced battery management, energy conversion, equipment integration, smart storage management, and operational expertise—aims to increase the value of energy storage. Committed to becoming a global leader, we serve partners and end-users seeking professional, innovative brands in smart energy management.

Read More

Solar+Storage

BrightNight Announces $375 Million Corporate Credit Facility to Accelerate Development of Its ~31 GW U.S. Renewable Power Portfolio

PR Newswire | January 04, 2024

BrightNight, the next generation and global renewable power producer built to deliver clean and dispatchable solutions, today announced the successful closing of a $375 million corporate credit facility. This significant financial milestone underscores the company's commitment to advancing renewable energy solutions that are safe, reliable, affordable, and clean. The corporate credit facility will provide BrightNight with the necessary capital to execute on its U.S. project portfolio which includes solar, energy storage, and integrated technologies providing value-add renewable power solutions for its customers. This funding specifically will support equipment deposits, letters of credit, and project buildout. The credit facility is structured as a Green Loan in alignment with Green Loan principles. "We are extremely pleased to announce the successful raise of this $375 million credit facility, a first for BrightNight," CEO Martin Hermann said. "This funding is more than just capital; it represents an important step in BrightNight's growth. It enables us to accelerate our projects, procure equipment at attractive terms, and deliver clean renewable power for our customers." ING, Natixis CIB, and SMBC are the Coordinating Lead Arrangers and Green Loan Coordinators on the transaction. HSBC is a Joint Lead Arranger and Administrative Agent. Latham and Watkins and PEI represented BrightNight in the transaction. Norton Rose Fulbright served as the Lender Counsel. "I want to thank our supporting banks and advisors for their hard work and support in closing this facility," CFO Brian Boland said. "The quality of the bank group and final terms are a testament to the strength of our portfolio and differentiated approach to the development of renewable power projects." ABOUT BRIGHTNIGHT BrightNight is the first global renewable integrated power company designed to provide utility and commercial and industrial customers with clean, dispatchable renewable power solutions. BrightNight works with customers across the U.S. and Asia Pacific to design, develop, and operate safe, reliable, large-scale renewable power projects optimized to better manage the intermittent nature of renewable energy. Its deep customer engagement process, team of proven power experts, and industry-leading solutions enable customers to overcome challenging energy sustainability standards, rapidly changing grid dynamics, and the transition away from fossil fuel generation.

Read More