SOLAR+STORAGE

Xcel Energy and Lightsource bp Progress Colorado’s Clean Energy Future With Second Large-scale Solar Project

Xcel Energy | October 28, 2021

Xcel Energy and Lightsource bp announced the development of a new 298-megawatt solar farm in Pueblo, Colorado. The project is Lightsource bp’s second in the city with power sales to Xcel, representing a cumulative half billion-dollar private investment in Colorado’s clean power infrastructure.

Lightsource bp will finance, build, own and operate the facility and deliver the solar energy it generates to Xcel Energy under a long-term power purchase agreement. Construction of the project is expected to begin before the end of 2021.

“Lightsource bp is continuing to expand our investment in Colorado’s clean power future. As long-term members of the Pueblo community, we are thrilled this project will further contribute to the local jobs ecosystem and tax base while delivering cost-effective renewable energy for decades to come.”

Kevin Smith, CEO, Lightsource bp

Alice Jackson, president of Xcel Energy--Colorado: “Xcel Energy is thrilled to be working with Lightsource bp on another major solar project in Pueblo that adds even more renewable energy to our system, while also creating jobs in the community. This collaboration is a win for Pueblo and for the State of Colorado and demonstrates our commitment to the communities as we lead the energy transition. We will continue to explore new and innovative projects that benefit our customers.”

The Sun Mountain Solar farm will abate 404,080 tons of CO2 annually, the equivalent of taking over 87,000 cars off the road each year. Additionally, the project will create 300 jobs during construction, to be filled mainly by locals.

The Sun Mountain power purchase agreement complements Xcel Energy’s broader Colorado Energy Plan to deliver 55% renewable energy to the grid and reduce carbon emissions 60% by 2026. It also supports Colorado’s clean energy goal to reduce emissions statewide 26% by 2025, 50% by 2030, and 90% by 2050 – creating cleaner and healthier communities across Colorado while contributing to local economies.

Will Toor, Executive Director, Colorado Energy Office: “The Sun Mountain Solar farm illustrates yet again thoughtful partnerships that continue to deliver on jobs and clean infrastructure in Southern Colorado. Our state boasts 300 days of sunshine each year and I’m excited to see the regional collaboration occurring to capture our state’s great natural resources. These and other recent projects within the region are meaningful initiatives to meet state’s ambitious greenhouse gas emissions goals, all while creating cleaner and healthier communities – and contributing to the local economy.”

Bighorn Solar, Lightsource bp’s first Pueblo project powering the EVRAZ Rocky Mountain Steel mill, provides an additional 300MW of solar-generated electricity to Xcel Energy. In total, the two projects will contribute $48 million in property tax payments to Pueblo over their lifespan. And at both the Sun Mountain and Bighorn solar farms, Lightsource bp is installing and conserving in total over 3,000 acres of shortgrass prairie, creating habitat for wildlife while bolstering the sites’ ability to sequester carbon.

Nick Gradisar, Mayor of Pueblo, Colorado: “I am thrilled that Lightsource bp is once again partnering with Xcel Energy on the Sun Mountain Solar field in Pueblo. The construction jobs will greatly benefit Pueblo and the surrounding community, and the end product will help reduce our carbon footprint. Pueblo is quickly becoming the renewable energy center of Colorado and Lightsource bp is one of the reasons why.”

About Xcel Energy
Xcel Energy provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices.

About Lightsource bp
Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. Our team includes over 500 industry specialists, working across 15 countries. We provide full scope development for our projects, from initial site selection, financing and permitting through to long-term management of solar projects and power sales to our clients. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta, and Austin.

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ENERGY

Climate-Technology Company Colossus Announces $36 Million Series-A Round, Taking Total Funding to $41 Million

Colossus | January 19, 2022

Colossus announced a $36 million Series A funding round, led by investors BuildGroup and including participation from Capital Creek, RTP Global, CEAS, & Poplar Ventures. This capital raise will bring total funding for the solar software start up to $41 million, including $5 million in seed funding from 2020. Colossus is a software and service company focused on accelerating the clean-energy movement. Colossus's innovative solar software and marketplace model helps companies of all sizes integrate, optimize, and digitize their workflows to foster business growth and the adoption of clean energy at scale. Our driving force at Colossus is to reimagine the fragmented and rapidly evolving solar marketplace through a unique portfolio of technologies and services that work together to streamline the deployment of clean energy. Solar energy installers are reporting increasing customer acquisition costs even as sales shift to online modes and confidence in the solar industry is at an all-time high. Our innovative software and marketplace model supports the rapid evolution of the solar + storage industry by developing tools that help drive sustainable business growth while accelerating solar adoption at scale." Walid Halty, CEO and Founder of Colossus Since its founding in 2017, Colossus (formerly Dvinci, Inc.) has rapidly grown its company, building a world-class executive leadership team with extensive experience in solar, software, demand generation, and workflow management. "We were drawn to Colossus's leadership and vision to accelerate the transition to renewable sources of energy, which is inevitable for the future of our planet," said Lanham Napier, Co-Founder and CEO of BuildGroup. "Colossus is uniquely positioned to create software solutions that help level the playing field for clean-energy professionals and companies of all sizes, opening up possibilities to modernize the industry while effectively responding to growing consumer demand." About Colossus Colossus is an enterprise software and service company focused on accelerating the clean-energy movement. Founded by industry leaders, Colossus aims to reimagine the fragmented and rapidly evolving solar marketplace through a unique portfolio of technologies, services, and partnerships that work together to streamline the deployment of clean energy. Colossus helps solar companies across the nation reach more customers and lower their soft costsby leveraging proprietary data and technology. Colossus's innovative solar software and marketplace helps companies of all sizes integrate, optimize, and digitize their workflows to foster business growth and the adoption of clean energy at scale.

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ENERGY

Volvo Energy invests in Connected Energy for second life battery business

Volvo Energy | June 17, 2022

Volvo Energy invests in the UK-based, second-life battery energy storage specialist Connected Energy in order to further accelerate Volvo Group's battery business and sustainability opportunities. In its mission to support and secure an attractive and sustainable circular business model for batteries, Volvo Energy is investing approx. SEK 50 M for 10 percent in the UK-based second-life battery energy storage specialist Connected Energy. "There is a great deal of untapped potential in the second-life use of batteries. This forward-leaning investment aims to facilitate the scaling-up of second-life battery energy storage systems and further secure circular business opportunities for the forthcoming ramp-up in Volvo Group's second-life battery returns, Together with Connected Energy, we will minimize the environmental impact of the batteries that has powered Volvo Group vehicles. By repurposing the batteries, we obtain the full value from them – from a climate, environment and business perspective." -Joachim Rosenberg, President Volvo Energy. "We couldn't be more pleased to welcome our new investor Volvo Energy on board and look forward to forging a path to increasing the sustainability of both electric vehicles and grid connected energy storage. Our collaboration will enable us to optimize the potential for battery reusage and ensure that the resources in the batteries are used effectively," - Matthew Lumsden, CEO Connected Energy. Volvo Energy is one of five new investors including Caterpillar Venture Capital Inc., the Hinduja Group, Mercuria, OurCrowd to join existing investors of Connected Energy; Engie New Ventures, Macquarie, and the Low Carbon Innovation Fund. Facts Volvo Energy Volvo Energy is a business area within the Volvo Group dedicated to providing essential support and infrastructure during the first-life, i.e. when batteries are mounted on vehicles, whilst subsequently securing reliable and sustainable second-life opportunities prior to battery recycling. Consequently, Volvo Energy supports to optimize first-life, creates and prolongs the second-life opportunities and thereby expanding the value creation from a climate, environment and business perspective. Facts Connected Energy With its headquarters in Newcastle upon Tyne, Technical Centre in Norfolk and systems operational in the UK, Belgium, Germany and Netherlands, Connected Energy is one of only a handful of companies in the world to have proven that second life vehicle batteries can be used in commercial battery storage systems. Connected Energy has sixteen operational systems across Europe: Belgium, Germany, the Netherlands and the UK with its largest at Cranfield University in Bedfordshire, England.

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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.

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ENERGY

PPL joins EPRI Climate READi initiative to address power system resilience and adaptation

PPL Corporation | June 02, 2022

PPL Corporation (NYSE: PPL) today announced it has joined Climate READi, a three-year initiative launched by the Electric Power Research Institute (EPRI) to address energy system climate resilience and adaptation as extreme weather events continue to increase. "As we strive to address climate change and achieve a net-zero future, we've made significant progress in hardening our systems and deploying smart grid technology to make our energy networks more resilient to severe weather that may become more frequent with climate change," - Gregory Dudkin, chief operating officer of PPL Corporation. Across its Pennsylvania and Kentucky operating companies, PPL has invested more than $20 billion over the past decade on infrastructure improvements, much of that focused on incorporating new technology and hardening transmission and distribution systems. These improvements have reduced the number of outages our customers experience by an average of 35% over the past decade despite recent increases in storm activity and severity. As PPL expands its operations to Rhode Island with the recent acquisition of The Narragansett Electric Company, now Rhode Island Energy, the corporation is focused on replicating this success. Climate READi will enable global energy companies, climate scientists, regulators and other stakeholders to proactively analyze and apply climate data, allowing for the planning, design and operation of resilient energy systems of the future. EPRI's collaborative model will convene the global thought leaders and scientific researchers necessary to build an informed and consistent approach. PPL is one of 13 anchor companies that have joined the initiative. About PPL Corporation PPL Corporation (NYSE:PPL), based in Allentown, Pennsylvania, is a leading U.S. energy company focused on providing electricity and natural gas safely, reliably and affordably to 3.5 million customers in the U.S. PPL's high-performing, award-winning utilities are addressing energy challenges head-on by building smarter, more resilient and more dynamic power grids and advancing sustainable energy solutions.

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