Power purchase agreement

Avangrid Statement on Park City Wind Offshore Project

Retrieved on: 
Tuesday, October 3, 2023

Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, today issued the following statement regarding the filing of agreements with the Connecticut Electric Distribution Companies to terminate power purchase agreements for the Park City Wind offshore project.

Key Points: 
  • Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, today issued the following statement regarding the filing of agreements with the Connecticut Electric Distribution Companies to terminate power purchase agreements for the Park City Wind offshore project.
  • “One year ago, Avangrid was the first offshore wind developer in the United States to make public the unprecedented economic headwinds facing the industry including record inflation, supply chain disruptions, and sharp interest rate hikes, the aggregate impact of which rendered the Park City Wind project unfinanceable under its existing contracts.
  • “Since that time, Avangrid has been transparent and collaborative, working diligently with state and federal officials and stakeholders to find solutions to the economic challenges facing Park City Wind as we continued to advance the permitting and development of the project.
  • After exploring all potential solutions to the financial challenges facing the project, and engaging in good-faith and productive discussions with Connecticut state officials regarding these challenges, it is clear the best path forward for Park City Wind is in the termination of the Power Purchase Agreements and a rebid of the project.

Ørsted Completes 200 MW Wind Farm in Kansas

Retrieved on: 
Thursday, September 28, 2023

MARION COUNTY, Kan., Sept. 28, 2023 /PRNewswire/ -- Ørsted, a leading U.S. renewable energy company, today announced the start of operations for Sunflower Wind, a wind farm located in Marion County, Kansas.  To celebrate this achievement in clean energy development, as well the economic benefits it stands to bring to the local community and the greater state of Kansas, Ørsted hosted a gathering attended by partners, landowners, community members, and local and state elected officials.  

Key Points: 
  • MARION COUNTY, Kan., Sept. 28, 2023 /PRNewswire/ -- Ørsted, a leading U.S. renewable energy company, today announced the start of operations for Sunflower Wind, a wind farm located in Marion County, Kansas.
  • "With Sunflower Wind, we now have 13 operational wind farms in the U.S., generating 832 MW in the Southwest Power Pool."
  • Ørsted pioneered a landmark supply chain decarbonization effort to deliver renewable energy access and bundled renewable energy credits from Sunflower Wind to nine companies.
  • In addition, Ørsted is partnering with The Kansas Chapter of The Nature Conservancy (TNC) to restore additional land under conservation easements.

Acasti Announces $7.5 Million Private Placement Equity Financing

Retrieved on: 
Tuesday, September 26, 2023

The private placement closed on September 25, 2023.

Key Points: 
  • The private placement closed on September 25, 2023.
  • Each Pre-funded Warrant is exercisable for one common share at an exercise price of $0.0001 per common share, will be immediately exercisable and will expire once exercised in full.
  • The Company has agreed to file an initial registration statement with the SEC covering the resale of the common shares and the common shares underlying the Pre-funded Warrants and Common Warrants issued in the private placement no later than 30 days following the closing date of the private placement.
  • The gross proceeds to the Company from the private placement were approximately $7.5 million, before deducting fees and expenses.

EQS-News: ENCAVIS AG reaches ready-to-build (RTB) status for a further solar park in Denmark with a generation capacity of 132 megawatts

Retrieved on: 
Saturday, September 16, 2023

Hamburg, 7 September 2023 – Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) has now reached the ready-to-build (RTB) status for its 132 megawatts (MW) solar park project in Ringkøbing on the Western North Sea coast of Denmark, an extremely attractive location.

Key Points: 
  • Hamburg, 7 September 2023 – Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) has now reached the ready-to-build (RTB) status for its 132 megawatts (MW) solar park project in Ringkøbing on the Western North Sea coast of Denmark, an extremely attractive location.
  • It is the third project of the Strategic Development Partnership with GreenGo Energy in Denmark, with a total of around 600 MW.
  • Photovoltaic sites in Denmark are particularly interesting because solar power generation benefits from significantly higher prices in low wind periods.
  • With a capacity of 132 MW it is one of the largest solar parks in Denmark.

Enernet Global Signs Power Purchase Agreement for 12MW Solar With Vedanta Zinc International in South Africa

Retrieved on: 
Friday, September 8, 2023

CAPE TOWN, South Africa, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Independent Power Producer Enernet Global (Enernet) has signed a Power Purchase Agreement (PPA) to build, own, operate and maintain a 12MW DC solar Photovoltaic (PV) plant with Vedanta Zinc International’s (VZI) Black Mountain Mining operations in the Northern Cape, South Africa.

Key Points: 
  • CAPE TOWN, South Africa, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Independent Power Producer Enernet Global (Enernet) has signed a Power Purchase Agreement (PPA) to build, own, operate and maintain a 12MW DC solar Photovoltaic (PV) plant with Vedanta Zinc International’s (VZI) Black Mountain Mining operations in the Northern Cape, South Africa.
  • Construction is expected to start in the first quarter of 2024 and take approximately 9 months to complete.
  • Enernet owns and operates hybrid power systems for mining and industrial companies designed to lower costs, reduce emissions and improve reliability.
  • The company has over 140MW of capacity in operation, construction, contracted or awarded of which 60MW is located in Africa.

KBRA Assigns Preliminary Ratings to Sunrun Julius Issuer 2023-2, LLC

Retrieved on: 
Thursday, September 7, 2023

KBRA assigns preliminary ratings to three classes of notes issued by Sunrun Julius Issuer 2023-2.

Key Points: 
  • KBRA assigns preliminary ratings to three classes of notes issued by Sunrun Julius Issuer 2023-2.
  • The transaction is collateralized by a diversified pool of 57,731 leases and Power Purchase Agreements (PPAs) associated with residential solar photovoltaic installations (PV Systems), some of which have energy storage equipment.
  • The total aggregate discounted solar asset balance (ADSAB) based on a discount rate of 7.5% (PV7.5 ADSAB), consisting of the discounted payments of the leases and PPAs is approximately $1.02 billion.
  • The weighted average original and remaining tenor of the PPAs and leases is 282 months, and 257 months, respectively.

EQS-News: ENCAVIS expands its solar portfolio in Spain with a 28 megawatts solar park in Castile and León to 583 megawatts

Retrieved on: 
Tuesday, September 5, 2023

Hamburg, 5 September 2023 – Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) has purchased a 28 megawatts (MW) solar park in Spain from ILOS Projects GmbH.

Key Points: 
  • Hamburg, 5 September 2023 – Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) has purchased a 28 megawatts (MW) solar park in Spain from ILOS Projects GmbH.
  • Once completed, the park will generate more than 50 gigawatt hours (GWh) of Renewable Energy per year.
  • With the expansion of Spanish generation capacity in the Valladolid region (Castile and León) in the Northwest of Spain, Encavis will be able to provide green electricity to large industrial customers in Spain.
  • “In November 2022, we acquired a 55 MW solar park in Guillena, Andalusia, and with this project we are now expanding our solar portfolio in Spain as planned,” says Mario Schirru, CIO/COO of Encavis AG, welcoming the acquisition.

EQS-News: ENCAVIS and Innovar Solar sign framework agreement for solar projects with a total volume of 160 megawatts

Retrieved on: 
Thursday, August 31, 2023

The framework agreement for an exclusive solar power pipeline comprises a total of nine project sites in Germany with a volume of 160 megawatts (MW) of generation capacity.

Key Points: 
  • The framework agreement for an exclusive solar power pipeline comprises a total of nine project sites in Germany with a volume of 160 megawatts (MW) of generation capacity.
  • Eight projects are located close to motorways and railways or in other areas privileged by construction law for use for open-plan PV systems.
  • One of the nine projects sells the electricity through a long-term pay-as-produced Power Purchase Agreement (PPA).
  • Mario Schirru, CIO/COO of Encavis AG, welcomes the signing of the framework agreement and says: “The number of interesting projects in the market is increasing significantly again.

Jasper Platz and Vaibhav Sharma Join G2 Venture Partners as Investors

Retrieved on: 
Wednesday, August 30, 2023

Today G2 Venture Partners , a venture capital firm investing in transformative technology companies at their inflection points to build a sustainable future, announced the hiring of Jasper Platz and Vaibhav Sharma as Investors.

Key Points: 
  • Today G2 Venture Partners , a venture capital firm investing in transformative technology companies at their inflection points to build a sustainable future, announced the hiring of Jasper Platz and Vaibhav Sharma as Investors.
  • Jasper Platz brings over 12 years of founder and operator experience to his role as an Investor at G2 Venture Partners.
  • Post acquisition, Jasper worked as the VP of Operations at SolarUniverse supporting a national network of installers.
  • Jasper played a key role in raising over $90M in venture capital from Andreessen Horowitz, Kleiner Perkins, Shasta and Cowboy Ventures.

Net Additional Renewable Energy Capacity under PPA to Reach 106GW in 2027 as Enterprises Seek Sustainable Energy and Stable Costs

Retrieved on: 
Thursday, August 24, 2023

Net additional renewable energy capacity will reach 106 GW in 2027, a global CAGR of 24%.

Key Points: 
  • Net additional renewable energy capacity will reach 106 GW in 2027, a global CAGR of 24%.
  • "The increase in PPAs has allowed the customer base to expand, not just be long-term physical contracts near the enterprise.
  • These PPAs will be more advertised, with enterprises showcasing their contribution to net zero targets as the public trends toward more sustainable practices.
  • This report is part of the company's Smart Energy for Enterprises and Industries research service, which includes research, data, and ABI Insights.