SOLAR+STORAGE

The Duke Energy Division is planning a $180 Million Solar Farm in Indiana

Duke Energy | April 12, 2021

TERRE HAUTE, A renewable energy project of Duke Energy expects to build a $180 million solar farm in western Indiana that will generate enough electricity to power 35,000 households.

The Hoosier Jack Solar farm, proposed by Duke Energy Renewables Solar LLC, a Duke Energy division that is not regulated by the state, will be based in southern Vigo and northern Sullivan counties.

According to Tyler Coon, business development manager for Duke Energy Renewables Solar, the proposed 175-megawatt solar farm will generate enough electricity to power 35,000 households.

The project would span 1,500 acres on leased land, with 896 acres in Vigo County and 604 acres in Sullivan County, and would be built on a former coal strip mine that is currently being used for crops.

According to the Tribune-Star, the site is connected to a 138-kilovolt Duke Energy Indiana transmission line via a utility-owned interconnection switching station near Farmersburg.

Construction is expected to begin in 2023, with a total of 200 construction jobs created over a 12- to 18-month period. By the middle of 2024, the power supply will be up and running.

On Tuesday, representatives of Duke Energy Renewables Solar appeared before the Vigo County Council to seek a $100 million tax abatement on land and personal property for the part of the farm that will be in Vigo County.

Spotlight

December 2018 Maharishi University of Management launches its 1.1 megawatt solar plant with 1 megawatt hour of batteries amounting to the largest solar-battery combo array in Iowa and supplying 30% of the university's electricity needs.


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ENERGY

Redeux Energy Exceeding Solar and Storage Project Development Goals and Expanding Team to Propel Growth

Redeux Energy | September 16, 2022

Redeux Energy Partners LLC (Redeux), a developer of utility-scale solar and energy storage projects, today announces its continued momentum including:Exceeding 2022 development goals for market coverage, leased acreage and multi-gigawatt capacity of projects with filed interconnection Entry into a multi-state land lease with Farmland Partners Inc. (NYSE: FPI), the nation’s largest publicly traded farmland REIT by U.S. acreage The addition of five senior team members, bringing decades of experience with some of the largest renewable energy companies, to anchor its platformRedeux’s development pipeline consists of large, hybrid solar and storage projects within the Midcontinent Independent System Operator (MISO), Electric Reliability Council of Texas (ERCOT), Southeastern Electric Reliability Council (SERC) and the Western Electricity Coordinating Council (WECC) energy markets. Currently totaling over 1.7 GW of capacity - of which more than 80% is filed for interconnection - Redeux is on track to exceed 2 GW of pipeline capacity by year-end, a 400% increase from year-end 2021. Acreage under site control totals over 20,000 acres in eight states, with over 10,000 additional acres in active negotiation. The company’s platform and processes are delivering the efficiency and scale to produce gigawatts of high-quality clean energy project pipeline annually. Since 2020, Redeux has been working with a number of large landowners across farming, timber, ranching and resource extraction industries to evaluate project development opportunities that increase the value of their land. A premier example of this type of mutually beneficial partnership is the recently announced lease agreement with FPI by which Redeux will develop multiple projects across several diversified farm sites in Arkansas and Mississippi totaling approximately 2,800 acres. The projects, where Redeux has also signed leases with adjacent landowners, are located under Entergy transmission lines operated within the MISO energy market. “The company is pleased with the results achieved year to date, and the recent increase in velocity, said Rob Masinter, Chief Operating Officer of Redeux. In addition to expanding our best-in-class land acquisition and development teams, Redeux has added leadership positions in market strategy, land acquisition, and corporate development and will add management positions to oversee our engineering and permitting activities in the coming months.” New members of the Redeux leadership and development team bring multiple decades of experience in utility-scale solar and energy storage infrastructure development and operations. Recent additions include: Garrett Gill, Vice President, Land, brings over 23 years of experience in land acquisition. Prior to Redeux, Gill served as Executive Vice President of the Power Group at Contract Land Staff (CLS). Mark Raventos, Vice President, Corporate Development, brings over 17 years of renewables development and M&A experience in the Americas, India and EMEA with Acciona Energy. Steve Drew, Vice President, Market Strategy, has over 20 years of experience in competitive transmission and renewables development and management with Borrego, NextEra and OG&E. Andrew Makee, Director, Development, brings over 13 years of utility-scale wind and solar development with Avangrid and Orion Renewables in MISO, SERC, SPP and ERCOT markets. Dan White, Director, Development, brings over 12 years of utility-scale solar, wind, energy storage and natural gas development with National Grid and Southern Power in SERC, ERCOT, CAISO and WECC markets. Over the next 18 months, Redeux is expanding its platform capabilities together with the geographic scope of its prospecting activities and project portfolio into at least 15 states within the MISO, ERCOT, Southwest Power Pool (SPP), SERC and WECC energy markets. Redeux’s corporate development focus is on executing early-stage acquisitions and forming partnerships with entities that will ultimately acquire its projects. “Success to date has been remarkable, The team has developed a platform of best-in-class analysis, technology, process, and people that is producing a tremendous volume of high-quality renewable energy projects. Our financial commitment will support Redeux's continued scale and acceleration to contribute meaningfully to the pace of project deployment required to meet U.S. public- and private-sector clean energy goals.” -William Harrison, CEO of Cathexis Holdings, Redeux’s largest shareholder. About Redeux Energy Redeux Energy is a utility-scale solar and storage development company with expertise in a range of strategies to transform greenfield, brownfield and industrial lands into renewable power infrastructure that produces new revenue streams, meets ESG goals and addresses local needs for economic and workforce development. About Our Capital Sponsors Cathexis Holdings is a Houston-based, multi-billion dollar, single-member family office. A diversified, multi-strategy group, Cathexis has active investments across industries including private equity, venture, real estate, infrastructure, energy, consumer products and technology. Thoroughbred Holdings originates investments in world-class infrastructure, energy and natural resource assets and provides advisory services to launch, restructure and grow these businesses. The firm invests in terminals and logistics, mining, agriculture, renewable feedstock production and clean energy infrastructure, typically with co-investment from top-tier private capital partners

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PRODUCTS

Enlight to Acquire 525 MW Portfolio of Solar and Wind Projects in Croatia

Enlight Renewable Energy | July 07, 2022

Enlight Renewable Energy (TASE: ENLT) has signed an agreement for the acquisition and joint development of a 525 MW portfolio of renewable energy projects in Croatia, across various stages of development. The portfolio comprises five projects, four of which are solar, totaling 386 MW and one of which is wind, totaling 139 MW. Enlight projects that the projects will commence construction from the end of 2023 through 2025, subject to the successful completion of the development phase for each project.The portfolio is one of the largest and most advanced portfolios of renewable energy projects in Croatia, and will enable Enlight to diversify its activity in Croatia to include significant solar projects, alongside its existing operational high-quality Lukovac wind project. As a member of the European Union, Croatia has adopted a far-reaching National Energy and Climate Plan (NECP) to increase the generation of electricity from renewable sources from 28% to over 36% by 2030 and 66% by 2050. Croatia benefits from one of the strongest solar resources in Europe and untapping the potential of its solar resources will be key to achieving the country's 2030 and 2050 renewable targets. The acquisition also reinforces Enlight's already strong presence across Central and Eastern Europe, where the Company owns a 1.2 GW portfolio of renewable energy projects between Hungary, Kosovo, Serbia and Croatia, including 316 MW of operational projects. Enlight Renewable Energy founded in 2008 and traded on the Tel Aviv 125 Index is 98% publicly held. It is among the Israeli leaders in initiation, development, funding, construction and operation of ventures for generation of clean electricity from renewable energy sources. The company operates in Israel and Europe, benefits from a diverse portfolio of revenue-generating projects that are under construction, leading up to construction and with a signed agreement for the sale of electricity (PPA) with an output of approximately 3,800 MW, approximately 1, 200 MW in advanced development stages and an additional approximately 12,200 MW in various stages of development. The company has a growing revenue pipeline from long-term agreements for the sale of electricity and is also working to expand its footprint in additional clean energy markets and segments.

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STRATEGY AND BEST PRACTICES

Guzman Energy Receives Approval for Limited Use Permit for New Solar Project in Southern Delta County, Colo

Guzman Energy | August 23, 2022

Guzman Energy has received approval from the Delta County Board of Commissioners for a limited use permit required to install and operate the proposed Garnet Mesa Solar project in Southern Delta County, Colorado. The Commissioners voted unanimously to approve the permit at the August 16, 2022 Commissioners meetingWhen complete, Garnet Mesa Solar will produce more than 194,000 megawatt hours (MWh) of electricity each year, enough energy for 18,000 homes. Delta-Montrose Electric Association (DMEA) will directly purchase a portion of the energy produced by the solar farm and Guzman Energy will offtake the rest as power supply to serve additional wholesale customers. “We are thrilled with the Delta County Board of Commissioners unanimous decision to approve the limited use permit to install and operate the Garnet Mesa Solar project. We are grateful for the time and attention the community and County officials gave to the process,” said Robin Lunt, Chief Strategy Officer, Guzman Energy. Since receiving the limited use permit, the Garnet Mesa Solar project team will now focus on the next phases of engineering and procurement planning. Construction resource and timing details will be announced following those engineering and procurement planning cycles. The land secured for Garnet Mesa Solar farm construction is currently irrigated and utilized for grazing, and will continue to be used in that manner. “With the Commissioners’ approval, we are one step closer to securing a significant amount of local affordable energy. Together, with Guzman Energy, we are driving rate stability for our members, We are confident Garnet Mesa Solar will be a premier example of agriculture and energy co-existing together.” -Kent Blackwell, Interim CEO and Chief Technology Officer, DMEA Highlights of the Garnet Mesa Solar farm include: Construction labor head count of 350-400 Property tax estimate of $13 million over 15 years Helps DMEA reach approximately 20% local power generation Maintains community commitment to agricultural land use through the simultaneous use of land for both solar power generation and agriculture by utilizing approximately 1,000 sheep for grazing and vegetation management on the solar farm The Garnet Mesa Solar project team is comprised of Guzman Energy, DMEA and Citra Power. The Citra team has significant expertise in renewable energy development, technical engineering, EPC management and oversight, project and portfolio acquisitions, and wholesale power procurement. Collectively, the Citra team has worked on thousands of Megawatts of now-operational wind, solar and energy storage projects. About Guzman Energy Guzman Energy is a wholesale power provider dedicated to communities in search of affordable and reliable energy. We partner with cooperatives, municipalities, companies, and tribes across North America to customize energy portfolios that make economic and environmental sense for today and tomorrow. Together, we are lighting the way forward. Visit www.guzmanenergy.com. About DMEA Delta-Montrose Electric Association is a member-owned rural electric cooperative. Located in southwest Colorado, DMEA provides safe, reliable, and affordable electric service to approximately 29,000 members, primarily in Montrose and Delta counties. DMEA is a progressive and forward-thinking electrical distribution cooperative dedicated to meeting the diverse energy needs of its members.

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STRATEGY AND BEST PRACTICES,ENERGY

Azure Power ties up with Siemens Gamesa for Supply of Onshore Wind Turbines

Azure Power | August 16, 2022

Azure Power Global Limited (NYSE: AZRE) ("Azure" or "the Company"), a leading independent sustainable energy solutions provider and renewable power producer in India, today announced that it has signed a Master Supply Agreement ("MSA") with Siemens Gamesa Renewable Power Private Limited ("Siemens Gamesa"), a global leader in wind technology. Siemens Gamesa will supply 96 units of SG 3.6-145 onshore wind turbines which will cater to an overall capacity of ~346 MW wind projects. The turbine supply is expected to commence during Q2 CY 2023. Speaking on the partnership, Harsh Shah, CEO, Azure Power said, We are pleased to partner with Siemens Gamesa in our first wind project. Wind energy is going to be an imperative element for delivering firm, reliable and clean energy to achieve the energy transition vision of the country. This partnership will create long-term supply visibility while securing sustainable value for our stakeholders. "We are delighted to begin this new partnership with Azure Power on this large-scale project using our latest India focused technology. The contract provides new impetus to the wind industry at a key juncture in the country's energy transition. Teams from both companies have worked relentlessly over the last few months to secure maximum value for the project. With this new joint approach, alongside our technological innovation, we are confident of delivering the right renewable energy solutions to the market." -Navin Dewaji, CEO, Siemens Gamesa-India About Azure Power Azure Power is a leading independent sustainable energy solutions provider, and renewable power producer in India on a mission to create value for all stakeholders through high-performance Renewable Energy assets. We developed India's first utility scale solar project in 2009 and since then, Azure Power has grown rapidly to become a leader in developing and operating large utility-scale renewable energy projects in the country. We also partner with commercial and industrial customers in their decarbonization journey by providing comprehensive solutions for their clean energy needs.

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Spotlight

December 2018 Maharishi University of Management launches its 1.1 megawatt solar plant with 1 megawatt hour of batteries amounting to the largest solar-battery combo array in Iowa and supplying 30% of the university's electricity needs.

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