ERCOT

Habitat Energy to optimize UBS Asset Management’s 730MW ERCOT battery storage portfolio

Retrieved on: 
Thursday, May 2, 2024
Environment, Technology, Environmental Health, Professional Services, Sustainability, Alternative Energy, Green Technology, Energy, Batteries, Asset Management, Market, Partnership, ERCOT, UBS, Energy storage, Risk management, Habitat, Cryptocurrency

Habitat Energy, a leading global optimizer of battery storage and renewable energy assets using advanced AI powered algorithmic forecasting and trading, has signed an agreement with UBS Asset Management’s Real Estate & Private Markets business to optimize 730MW of battery storage assets in the ERCOT market in Texas.

Key Points: 
  • Habitat Energy, a leading global optimizer of battery storage and renewable energy assets using advanced AI powered algorithmic forecasting and trading, has signed an agreement with UBS Asset Management’s Real Estate & Private Markets business to optimize 730MW of battery storage assets in the ERCOT market in Texas.
  • Energy storage is a key enabler of the energy transition, increasing grid resilience, enabling renewable energy integration and providing local communities with greater access to clean, affordable energy.
  • UBS Asset Management chose Habitat Energy to optimize this four-project ERCOT battery storage portfolio following a comprehensive review of optimization service providers in the market.
  • Habitat brings a new and innovative optimization approach to the ERCOT market and we see this agreement with UBS as recognition of that.”
    Ken-Ichi Hino, Senior Portfolio Manager, Energy Storage at UBS Asset Management said: “The partnership with Habitat Energy marks another important step in the execution of UBS Asset Management’s energy storage investment strategy.

Seven Corporate Buyers Enter Into Aggregation Deal To Purchase 180 MW of Solar Energy Through the Net Zero Consortium for Buyers

Retrieved on: 
Wednesday, May 1, 2024
Negotiation, Sustainable business, Cisco, Sustainability, Laboratory, Health, Software, Partnership, Electricity, ERCOT, Research, VPPA, Gamer, Bio-Rad Laboratories, Idexx Laboratories, Duke Energy, Multimedia, Cadence Design Systems, PTC, Renewable energy

The seven buyers signed VPPAs to develop new renewable energy capacity in the ERCOT region of Texas through SR Inc's NZCB.

Key Points: 
  • The seven buyers signed VPPAs to develop new renewable energy capacity in the ERCOT region of Texas through SR Inc's NZCB.
  • The buyer-aggregated approach democratizes access to the commercial and environmental benefits of utility-scale renewable energy by making procurement accessible to a broader range of enterprises.
  • Finally, a large healthcare company will purchase renewable energy generated from the remaining 20 MW portion of Millers Branch.
  • SR Inc's Net Zero Consortium for Buyers (NZCB) is a confidential buyers' community committed to creating corporate buyer-favorable renewable energy transactions that enable participating enterprises to chart a profitable path to Net Zero emissions globally.

CPS ENERGY CLOSES ON PREVIOUSLY ANNOUNCED ACQUISITION OF TALEN ENERGY GAS PLANTS IN CORPUS CHRISTI AND LAREDO

Retrieved on: 
Wednesday, May 1, 2024
CPS, Talen, Investment, City, Solar energy, RBC Capital Markets, ERCOT, Kirkland & Ellis, Employment, Plant, Wind, Retirement, Climate change mitigation, Acquisition, SAN, CPS Energy, Renewable energy

These assets include natural gas plants in Corpus Christi and Laredo, Texas.

Key Points: 
  • These assets include natural gas plants in Corpus Christi and Laredo, Texas.
  • CPS Energy and Talen previously announced the transaction on March 27, 2024.
  • "This step marks CPS Energy's growing role as a regional energy utility, providing additional resiliency and reliability for our customers," said Rudy D. Garza, president and CEO of CPS Energy.
  • Talen President and Chief Executive Officer Mac McFarland said, "We are pleased to have completed our strategic transaction with CPS Energy.

CPS ENERGY CLOSES ON PREVIOUSLY ANNOUNCED ACQUISITION OF TALEN ENERGY GAS PLANTS IN CORPUS CHRISTI AND LAREDO

Retrieved on: 
Wednesday, May 1, 2024
CPS, Talen, Investment, City, Solar energy, RBC Capital Markets, ERCOT, Kirkland & Ellis, Employment, Plant, Wind, Retirement, Climate change mitigation, Acquisition, SAN, CPS Energy, Renewable energy

These assets include natural gas plants in Corpus Christi and Laredo, Texas.

Key Points: 
  • These assets include natural gas plants in Corpus Christi and Laredo, Texas.
  • CPS Energy and Talen previously announced the transaction on March 27, 2024.
  • "This step marks CPS Energy's growing role as a regional energy utility, providing additional resiliency and reliability for our customers," said Rudy D. Garza, president and CEO of CPS Energy.
  • Talen President and Chief Executive Officer Mac McFarland said, "We are pleased to have completed our strategic transaction with CPS Energy.

Climavision acquires Intersphere, bolstering leadership in AI-powered weather prediction

Retrieved on: 
Tuesday, April 30, 2024
Technology, Venture Capital, Other Energy, Natural Disasters, Energy, Professional Services, Artificial Intelligence, Other Natural Resources, Environment, Other Technology, Software, Agriculture, Natural Resources, Data Management, Weather, Probability, Risk, Climate, Numerical weather prediction, ERCOT, Artificial intelligence, Forecasting, Wind, Communication, Death, Midsphere, Organization, Risk management

Louisville, KY-based Climavision, a leader in advanced weather modeling and forecasting technology, has acquired Intersphere, a fast-growing innovator specializing in subseasonal-to-seasonal (S2S) forecasting – predicting weather up to a year in advance.

Key Points: 
  • Louisville, KY-based Climavision, a leader in advanced weather modeling and forecasting technology, has acquired Intersphere, a fast-growing innovator specializing in subseasonal-to-seasonal (S2S) forecasting – predicting weather up to a year in advance.
  • Intersphere’s unique technology and expertise will build on Climavision's own AI-powered weather prediction and decades of experience in numerical weather prediction.
  • “By seamlessly blending Climavision's unmatched expertise in Numerical Weather Prediction with their cutting-edge generative AI technology, we are revolutionizing the landscape of weather forecasting.
  • "Joining forces with Climavision creates a dynamic powerhouse in the weather technology sector," added Ben Toms, Ph.D., CEO of Intersphere.

MATRIX RENEWABLES SIGNS RENEWABLE ENERGY PURCHASE AGREEMENT WITH HYUNDAI MOTOR GROUP FOR A 284 MWDC SOLAR PROJECT IN BELL COUNTY, TEXAS

Retrieved on: 
Tuesday, April 30, 2024
State, TPG, WECC, ERCOT, Matrix, K&L Gates, MISO, Hyundai Motor Group, CAISO, PPA, CO2, Renewable energy

MIAMI, April 30, 2024 /PRNewswire/ -- Matrix Renewables, the TPG Rise-backed global renewable energy platform, today announced that it has signed a renewable energy power purchase agreement with affiliates of the Hyundai Motor Group for 147 MWac from its Stillhouse Solar project, a 284 MWdc / 210 MWac total solar PV project located in Bell County, Texas (USA).

Key Points: 
  • MIAMI, April 30, 2024 /PRNewswire/ -- Matrix Renewables, the TPG Rise-backed global renewable energy platform, today announced that it has signed a renewable energy power purchase agreement with affiliates of the Hyundai Motor Group for 147 MWac from its Stillhouse Solar project, a 284 MWdc / 210 MWac total solar PV project located in Bell County, Texas (USA).
  • The Stillhouse Solar project is expected to begin commercial operations in the second part of 2025.
  • "We are thrilled to have finalized this agreement with Hyundai Motor Group, contributing to the achievement of its ambitious sustainability objectives in the United States," said Cindy Tindell, Managing Director and Head of U.S. for Matrix Renewables.
  • We thank Hyundai Motor Group for its commitment to our Stillhouse Solar project and look forward to an enduring relationship."

On.Energy Closes $25 Million Working Capital Facility With Lombard Odier Investment Managers

Retrieved on: 
Thursday, April 25, 2024
Environment, Climate Change, Finance, Other Energy, Business, Professional Services, Sustainability, Energy, Other Professional Services, CFO, Climate, Research, ERCOT, Kilowatt-hour, Engineering, Partner (business rank), Inflation, Multimedia, Growth, IRA, Renewable energy

The financing is architected to support costs typically subject to less-efficient financing in market today, including site control, engineering and interconnection, project and interconnection bonding, and project M&A.

Key Points: 
  • The financing is architected to support costs typically subject to less-efficient financing in market today, including site control, engineering and interconnection, project and interconnection bonding, and project M&A.
  • View the full release here: https://www.businesswire.com/news/home/20240425338100/en/
    “We are proud to work with LOIM following referral from an existing Strategy portfolio company given its reputation for creating innovative and aligned capital solutions.
  • Despite tailwinds from the Inflation Reduction Act (IRA), structured financial solutions with top-tier partners like Lombard Odier Investment Managers are essential to put critically-needed, resilient storage capacity online,” said On.Energy CEO Alan Cooper, who led the transaction together with CFO David Fernandes.
  • “Across the country, electrical grids are more vulnerable now than ever – particularly as unprecedented growth of low-cost intermittent renewables continues to drive grid decarbonization.

Spearmint Energy Adds Senior Talent

Retrieved on: 
Tuesday, April 16, 2024
Technology, Batteries, Alternative Energy, Energy, NextEra Energy Resources, JPMorgan Chase, Investment, Siemens Gamesa, Capital market, Regulation, ERCOT, New York Power Authority, SPP, Engineering, Project finance, Barclays, BNP Paribas, Merchant, Renewable energy

Spearmint Energy (“Spearmint” or the “Company”), a next-generation renewable energy company enabling the clean energy revolution through battery energy storage, today announced the addition of four senior hires who bring a diverse mix of project finance, capital markets, regulatory affairs, and commercial operations experience to Spearmint’s growing team.

Key Points: 
  • Spearmint Energy (“Spearmint” or the “Company”), a next-generation renewable energy company enabling the clean energy revolution through battery energy storage, today announced the addition of four senior hires who bring a diverse mix of project finance, capital markets, regulatory affairs, and commercial operations experience to Spearmint’s growing team.
  • Merchant has more than two decades of experience working in the energy and commodities finance industry, including across debt capital markets, energy trading and structured derivatives, and project and structured finance.
  • Jack Clark III, Director of Regulatory – ERCOT & SPP – Mr. Clark brings more than 20 years of regulated and non-regulated energy industry operations experience to Spearmint.
  • Andrew Waranch, Founder, President, and Chief Executive Officer of Spearmint, said, “We are pleased to continue to scale the Spearmint team with exceptional talent and strengthen our capabilities across project finance, capital markets, regulatory affairs, and commercial operations.

Nova Clean Energy Closes Acquisition of 1 Gigawatt Wind and Solar Development Asset Portfolio from BNB Renewables

Retrieved on: 
Tuesday, April 16, 2024
Alternative Energy, Construction & Property, Energy, Green Technology, Sustainability, Technology, Nuclear, Other Natural Resources, Environment, Natural Resources, Urban Planning, Other Technology, Other Energy, Utilities, Other Construction & Property, ISD, Learning, Acceleration, Primary energy, AI, NTP, WECC, Electricity, ERCOT, Texas Gulf Coast, Growth, Wind, MISO, Acquisition, BNB, VEDC, Renewable energy

Nova Clean Energy (‘Nova’) today announced the acquisition of HyFuels, a more than 1 gigawatt portfolio of mid-to-late-stage wind and solar development projects as well as an earlier stage green ammonia project.

Key Points: 
  • Nova Clean Energy (‘Nova’) today announced the acquisition of HyFuels, a more than 1 gigawatt portfolio of mid-to-late-stage wind and solar development projects as well as an earlier stage green ammonia project.
  • Nova acquired HyFuels from BNB Renewable Energy (‘BNB’), a developer with a nearly 20-year track record of developing wind and solar projects across the United States and in Mexico, including for a range of industrial clients.
  • Nova has entered into a long-term development services agreement with BNB, which originated the development in late 2020, ensuring full alignment on the successful delivery of the HyFuels project.
  • Wind paired with solar provides a generation profile that industrial as well as utility customers increasingly want to see.

East Point Energy Announces Inaugural Energy Storage Projects in Texas

Retrieved on: 
Thursday, April 11, 2024
Other Energy, Utilities, Batteries, Environment, Alternative Energy, Energy, Technology, Green Technology, BMES, ERCOT, Kilowatt-hour, Pleasure, Danske Commodities, Multimedia, Sunset, Renewable energy

East Point Energy , an Equinor Company, has announced the start of construction of Sunset Ridge Energy Center (Sunset Ridge) in Frio County, Texas, as well as the final investment decision of the Citrus Flatts Energy Center (Citrus Flatts) in Cameron County, Texas.

Key Points: 
  • East Point Energy , an Equinor Company, has announced the start of construction of Sunset Ridge Energy Center (Sunset Ridge) in Frio County, Texas, as well as the final investment decision of the Citrus Flatts Energy Center (Citrus Flatts) in Cameron County, Texas.
  • Citrus Flatts, acquired by East Point Energy from Black Mountain Energy Storage (BMES) in late 2023, will be a 100 MW/200 MWh battery storage project.
  • “We aim to build a robust and diversified battery storage portfolio with an opportunity to scale, by leveraging the capabilities of East Point Energy and maximizing synergies with Danske Commodities,” says Christian Lie Hansen, vice president onshore renewables Americas and chair of the East Point Energy board.
  • East Point Energy, headquartered in Charlottesville, Virginia, is focused on the origination, development, construction, and operation of energy storage projects.