Sunrun Signs Definitive Agreement to Acquire Vivint Solar for 3.2 Billion to Contribute Renewable Energy in U.S.

Sunrun Inc. | July 07, 2020

Sunrun (NASDAQ: RUN), a leading provider of residential solar, battery storage and energy services, and Vivint Solar (NYSE: VSLR), a leading full-service residential solar provider in the United States, today announced the companies have entered into a definitive agreement under which Sunrun will acquire Vivint Solar in an all-stock transaction, pursuant to which each share of Vivint Solar common stock will be exchanged for 0.55 shares of Sunrun common stock, representing a combined Enterprise Value of $9.2 billion based on the closing price of Sunrun’s shares on July 6, 2020. Vivint Solar stockholders are expected to own approximately 36% and Sunrun stockholders are expected to own approximately 64% of the fully diluted shares of the combined company. The exchange ratio implies a 10% premium for Vivint Solar shares based on closing prices on July 6, 2020, and a 15% premium to the exchange ratio implied by the three month volume weighted average price of Vivint Solar and Sunrun shares.

Spotlight

There’s a lot to love about a Painted Lady, but when it comes to high electric bills, one thing’s for sure—they need to stay in the past. That’s why its owners turned to Sunrun to get the solar savings they needed while keeping the home’s integrity intact. Because when you have a home like the Painted Lady, you sure better get it right.


Other News
ENERGY

Vistra Announces Expansion of World's Largest Battery Energy Storage Facility

Vistra | January 25, 2022

Vistra announced that it plans to further expand its Moss Landing Energy Storage Facility in Moss Landing, California. The company has entered into a 15-year resource adequacy agreement with Pacific Gas and Electric Company (PG&E) for a new 350-megawatt/1,400-megawatt-hour battery system. This would complement the existing 400 MW/1,600 MWh of energy storage capacity already at the site. On Jan. 21, 2022, PG&E filed its application with the California Public Utilities Commission (CPUC) to approve the contract, with a decision expected within 180 days. Through this partnership with PG&E, Vistra is bringing its capabilities and expertise to lead the clean energy transition and provide much-needed electricity to the people of California. These innovative battery energy storage systems are necessary to maintain electric grid reliability as increasing levels of intermittent renewable power are integrated into the electric grid." Curt Morgan, Vistra CEO Like previous phases, Moss Landing Phase III will be able to move quickly due to the utilization of an already-approved development permit and its location on a Vistra-owned power plant site with existing interconnection and infrastructure. At its plant sites in California and across the country, Vistra is leading the way in responsibly reclaiming and repurposing sites that have been historically used for fossil fuels, transforming them with renewables and battery storage, leading to economic activity and tax base for the communities. This announcement brings the Moss Landing site's total energy storage capacity to 750 MW/3,000 MWh, the largest of its kind in the world: Morgan continued, "With this planned expansion, we are moving the Moss Landing site closer to its full potential. With additional phases, this project could eventually reach 1,500 MW – enough to power approximately 1.125 million homes across the state of California with emission-free electricity. Vistra is committed, through our Vistra Zero portfolio, to transitioning the company to address climate change – and our Moss Landing site is a shining example of the pivot of our generation fleet toward carbon-free technologies." Pending the receipt of CPUC approval, Vistra anticipates construction on the third phase of the Moss Landing battery energy storage project will commence in May 2022 and will begin commercial operations prior to June 2023. With a robust pipeline of projects, Vistra plans to grow its zero-carbon Vistra Zero portfolio to 7,300 MW by 2026. This includes 5,000 MW of renewables and energy storage and the company's 2,300-MW emission-free nuclear facility, Comanche Peak. In addition to its California projects, the company currently has six solar installations and 11 other storage and solar-plus-storage facilities, all in various stages of development and operations in Texas and Illinois. Ahead of this summer, Vistra will bring online its 50-MW Brightside Solar Facility, the 108-MW Emerald Grove Solar Facility, and the 260-MW DeCordova Energy Storage Facility – all in the Texas ERCOT market. About Vistra Vistra is a leading Fortune 275 integrated retail electricity and power generation company based in Irving, Texas, providing essential resources for customers, commerce, and communities. Vistra combines an innovative, customer-centric approach to retail with safe, reliable, diverse, and efficient power generation. The company brings its products and services to market in 20 states and the District of Columbia, including six of the seven competitive wholesale markets in the U.S. and markets in Canada and Japan, as well. Serving nearly 4.3 million residential, commercial, and industrial retail customers with electricity and natural gas, Vistra is one of the largest competitive electricity providers in the country and offers over 50 renewable energy plans. The company is also the largest competitive power generator in the U.S. with a capacity of approximately 39,000 megawatts powered by a diverse portfolio, including natural gas, nuclear, solar, and battery energy storage facilities. In addition, Vistra is a large purchaser of wind power. The company owns and operates the 400-MW/1,600-MWh battery energy storage system in Moss Landing, California, the largest of its kind in the world. Vistra is guided by four core principles: we do business the right way, we work as a team, we compete to win, and we care about our stakeholders, including our customers, our communities where we work and live, our employees, and our investors.

Read More

ENERGY

NFT Platform Voice Celebrates Earth Month By Going Carbon Negative

Ecologi | March 29, 2022

Voice, the NFT platform for creators, is kicking off Earth Month with a pledge to plant a tree for every NFT created on their platform during the month of April, supporting reforestation efforts that have a long-term impact on rebuilding the Earth's overall health. The pledge is part of the platform's commitment to leading the way in future-proofing Web3 and the creator economy. "Every NFT minted on Voice is already carbon neutral, so we're focused on reforestation and moving towards carbon negativity, Building a sustainable NFT ecosystem can't be done only by offsetting. We must also build a greener future." -Salah Zalatimo, CEO of Voice. The month's programming includes partnering with relevant creators and companies on an #ICreateCleanNFTs campaign, and both digital and in person events. Voice has partnered with Ecologi, a platform for real climate action. Ecologi facilitates the funding of carbon offset projects and tree planting around the world. All trees planted on behalf of the Voice community during April will be transparently viewable on the platform's virtual forest. "We are delighted that Voice has partnered with us to celebrate Earth Month, pledging to plant a tree for every NFT created on their platform in April, By pioneering the world's first eco-friendly blockchain technology, and by encouraging other platforms to take responsibility for their emissions, Voice's dedication to changing this notoriously energy-intensive industry is remarkable." -Linda Adams, Head of Partnerships, Ecologi. Voice is built using EOSIO, the world's first major environmentally friendly blockchain. EOSIO enables low carbon emission blockchain transactions by using a Delegated Proof of Stake consensus algorithm (DPoS), which does not require huge server farms to mine for a solution. In DPoS, elected block producers (BPs) take turns producing blocks, with no need to solve complex mathematical problems. Therefore, the only carbon footprint created when using DPoS is the power associated with adding blocks of transactions to the blockchain. Beyond pioneering an eco-friendly technology, Voice supports the Capricorn Ridge Wind Project, a wind generation plant in Texas. The company also partners with Google Cloud to ensure data usage is not just carbon neutral, but carbon negative. (source) The blockchain industry at large has been widely criticized for its impact on the environment. Voice calls upon fellow platforms and organizations to consider a matching commitment to carbon negativity and to pursuing eco-friendly, sustainable initiatives year-round. ABOUT VOICE Voice is an NFT platform that is carbon neutral, easy to use and multi-chain compatible. At Voice, we believe that NFT technology will change the internet by introducing verified ownership to our digital world. We're building a way for creators and communities to be rewarded for their engagement–the way it should be. ABOUT ECOLOGI Ecologi is a platform for real climate action and in 2021, the company was established as a certified B Corporation. It facilitates the funding of carbon reduction projects and tree planting around the world. Ecologi provides a simple but powerful subscription service to reverse climate change. To date, the company has planted over 38 million trees on the behalf of its subscribers and funded climate solution projects that have reduced over 1.5 million tonnes of CO2. Their mission is to reduce 50% of global CO2 emissions by 2040 and responsibly plant billions of trees every year.

Read More

ENERGY

Breaking Down 5 Misconceptions to Accelerate Green Development

Huawei | February 28, 2022

Huawei hosted its Day0 Forum "Lighting up the Future" as part of their lead up to MWC22 Barcelona. Huawei Carrier's Chief Marketing Officer Dr. Philip Song delivered a keynote speech titled "Five Misconceptions of Green Development" at the forum. Green development is a buzzword. Just like from Newton's classical mechanics to Einstein's theory of relativity, its development is going to be marked by a spiraling path between misconceptions and truths. We need to move past these five misconceptions as soon as possible to accelerate the green development of the ICT industry." Dr. Philip Song,Huawei Carrier's Chief Marketing Officer Misconception 1: ICT industry contributes to increased carbon emission. According to the GeSI's SMARTer2030 report, the ICT industry is only expected to account for 1.97% of global carbon emissions by 2030. More importantly though, other industries are expected to reduce their own carbon emissions 20% by applying ICT technologies, a total amount 10 times the carbon emissions of the ICT industry itself. These secondary savings are called carbon handprint. The size of this carbon handprint has made ICT infrastructure increasingly important in many national strategies. Huawei itself predicts that 1 YB of global data will be stored on the cloud by 2030. This means that 150 million tons of carbon emissions can be saved each year if current infrastructure is equipped with greener, all-optical transmission technologies. These savings would be equivalent to planting 200 million trees – an amount that would cover the entirety of Europe in forest. Misconception 2: There is over-focusing on supply chain emissions, which are regarded as the largest cause of carbon emissions for network equipment. As Dr. Song described in his presentation, if you look at the entire life cycle of network equipment, only 2% of its carbon emissions are generated during manufacturing, while 80-95% are generated during usage. Dr. Song therefore proposed that the key to reducing ICT industry carbon emissions will be adopting innovative technologies to improve energy efficiency. Misconception 3: Green development is only about green energy. While the development of solar and wind power are important to green development in the ICT industry, huge gains can be achieved by systematically improving the energy efficiency of telecom networks. To this end, Huawei released a three-layer green solution at this summit to systematically improve network energy efficiency through "Green Site, Green Network, and Green Operation", helping carriers achieve "More Bits, Less Watts". Misconception 4: Network energy efficiency is equal to the sum of energy efficiencies of its telecom equipment. The energy efficiency evaluation of a single equipment box is not enough to carry out comprehensive, scenario-based planning and construction decisions. Huawei recommended establishing a unified, standardized indicator system (NCI) to accurately evaluate and formulate energy-saving policies for entire networks by measuring the energy efficiency indicators of main communications equipment, site auxiliary equipment, transport networks, and data centers. Misconception 5: Energy saving should not impact any network performance indicator. The truth is, there is trade-off between energy saving features and some network indicators. However, energy saving features can be adopted at the expense of peak rates and some other indicators, but without impacting actual user experience. In Germany, an intelligent shutdown solution has been deployed in shopping malls at midnight. Although it slightly reduces peak rates, it reduces site energy consumption by 10% without affecting user experience. During his closing remarks, Dr. Song delivered five suggestions for green development in the ICT industry: "First, we should vigorously develop the ICT industry to enable green development in other industries. Second, we must pay more attention to carbon emissions of ICT infrastructure during usage rather than just during manufacturing. Third, the systematic solution of "Green Site, Green Network, and Green Operation" will help carriers continuously improve network capacity and reduce power consumption per bit, achieving "More Bits, Less Watts". Fourth, we must define a unified energy efficiency indicator system to identify the main problems of energy consumption. Fifth, watts are decided by user experience." MWC22 Barcelona will run from February 28 to March 3 in Barcelona, Spain. Huawei will showcase its products and solutions at stand 1H50 in Fira Gran Via Hall 1. Together with global operators, industry professionals, and opinion leaders, we will dive into topics such as industry trends, GUIDE to the Future, and green development to envision the future of digital networks.

Read More

STRATEGY AND BEST PRACTICES

Electreon Signs a Commercial Agreement With Electra Afikim––Israel's Fourth Largest Bus Operator

Electreon | May 17, 2022

Electreon (TASE: ELWS.TA), the leading provider of wireless and in-road electric vehicle (EV) charging technology, has signed an agreement of cooperation with the public transportation company Electra Afikim. As part of the agreement, Electreon will provide Electra Afikim with wireless charging infrastructure that will enable simultaneous charging of 30 buses, 24 hours a day. The deal is a result of a call for proposals issued by Israel’s National Public Transportation Authority in the Ministry of Transportation to public transport operators, to procure and establish infrastructure to electrify buses. The ministry was a partner in arranging the parking lot for electric charging with the Rosh HaAyin municipality, and invested about $2.9 million in the project. As part of the agreement Electreon will provide maintenance, support and operation services for the next 12 years. The cost of the deal is $1.9 million; it will cover the fleet's activity, and includes 30 buses. In addition, Electra Afikim will bear the cost of the electricity. Electra Afikim is the fourth largest bus operator in Israel with roughly 1,400 buses. The municipality of Rosh Hain played a key role in the agreement as part of it policy to promote clean electric transportation in the rapidly growing city This is the second commercial deal signed by Electreon in Israel. The previous, with Dan bus company in October 2021, and includes the sale of wireless charging services for 200 buses. The company estimates that the Electra Afikim agreement has potential for future expansion, including a significant chance of replication with other operators from Israel and abroad. The deal was done in accordance with the Ministry of Transportation's decision to change the face of public transportation in Israel, as part of its ban on the introduction of polluting buses from 2025. The support of the Ministry of Transportation is important especially since the ministry is the entity that finances the public transportation activity in Israel, and the entity that approved the use of Electreon’s wireless charging. The approval given will allow Israeli public transportation operators to duplicate the project and quickly promote green transportation in Israel. “As a leading public transportation company, we are turning towards green energy, Since the transition to electrification depends on the allocation of infrastructure, powerful grid connections and prolonged bureaucracy, we were happy to partner with Electreon, which offers a more cost-effective and accessible alternative to charging electric buses. Electra Afikim already operates 25 electric buses on unique BRT lines in the city of Ashdod as part of a sustainable city project and strives to expand the use of green energy buses. This strategy is in line with Electra Group's sustainable activities on various levels over the past years. We thank the National Public Transport Authority for promoting the agreement as part of its e policy to electrify public transportation." -Oded Cohen, CEO of Electra Afikim. Electreon's activity in Israel is in line with the company's business model, as part of its process to promote public transport operators and other commercial fleet operators in the US, Europe, Germany and France with Electreon's strategic partner, the infrastructure company, Vinci. Over the past weeks Electreon has announced several international deals including: Development agreement for commercial wireless charging projects with Destia, Finland's leading infrastructure services company. As part of the agreement the parties will promote commercial public charging projects in Finland, with trucks and wireless distribution vehicles. USA - The company announced collaboration with the leading wireless charging research center ASPIRE in Utah. As part of the project, which will be launched this summer, ASPIRE will set up a demonstration of a wireless electric road in their test track. The project will demonstrate the company's system for the U.S. Department of Transportation, additional U.S. authorities and potential customers and partners from across the United States. Jacobs, Electreon’s strategic partner, is engaged in promoting commercial transactions with its various customers to operate bus and truck transportation throughout the U.S. In addition, Jacobs partnered with Ford in the U.S. first electric road project, in which the City of Detroit announced its plans to invest heavily and become a leader in infrastructure for charging electric vehicles while driving. Sweden - The company recently updated that the Swedish Ministry of Transportation has added a budget of €2 million ($2.17 million) to extend its project in Gotland - the world’s first wireless electric road for trucks and buses. Which will strengthen its position ahead of the tender for the construction of the first 42 km long electric road in Sweden. “2022 is Electreon’s year of transition from planning, development and construction of supply chains towards large-scale production and sales, The wireless static charging project signed with Electra Afikim is a model that the company intends to replicate in many cities around the world, along with dynamic wireless charging. Electreon continues to significantly increase its production capacity in order to be ready for the rapid construction of projects in the pipeline and future projects.” -Oren Ezer, CEO of Electreon. About Electreon Electreon is the leading provider of wireless charging solutions for electric vehicles (EVs), providing end-to-end charging infrastructure and services to meet the needs and efficiency demands of shared, public and commercial fleet operators and consumers. The company’s proprietary inductive technology dynamically (while in motion) and statically (while stopped) charges EVs quickly and safely, eliminating range anxiety, lowering total costs of EV ownership, and reducing battery capacity needs—making it one of the most environmentally sustainable, scalable, and compelling charging solutions available today. Electreon works with cities and fleet operators on a charging as a service (CaaS) platform that enables cost-effective electrification of public, commercial, and autonomous fleets for smooth and continuous operation. For more information, visit electreon.com. About Electra Afikim \Electra Afikim is the transportation division of the Electra Group, and expresses the vision of the group Electra to establish its position as a leading player in the transportation industry in Israel. Afikim was established in 2008 as part of one of the Ministry of Transportation's reforms that allowed private companies to bid in tenders to operate public transportation clusters. In 2009, the company won the operation of Samaria.cluster, In 2013, it expanded its operations through the acquisition of Veolia Transportation. In 2020. Control of the company was acquired by the Electra Group and about a year later, Electra Afikim acquired Egged Transport Company. Today, the company, which is managed by Oded Cohen, operates about 1,400 buses on about 450 service lines, which operate in five transportation clusters. The company covers about 60 million kilometers and transports more than 60 million passengers a year.

Read More

Spotlight

There’s a lot to love about a Painted Lady, but when it comes to high electric bills, one thing’s for sure—they need to stay in the past. That’s why its owners turned to Sunrun to get the solar savings they needed while keeping the home’s integrity intact. Because when you have a home like the Painted Lady, you sure better get it right.

Resources