Also on the rise: iSun books EPC services contract for multi-site solar projects, Honeywell announces a battery energy storage platform, United Natural Foods buys into a 108 MW solar farm, and Secure Futures gains $25 million in equity finance to secure its future.
Amazon announced 14 new renewable energy projects in the U.S., Canada, Finland, and Spain to advance its goal to power all of its activities with renewable energy by 2025.
The projects bring Amazon’s total renewable energy investments to date to 10 GW of capacity, making it one of the largest corporate buyers of renewable energy both in the U.S. and the world.
Amazon said it will now have 232 renewable energy projects globally, including 85 utility-scale wind and solar projects and 147 solar rooftops on facilities and stores worldwide.
The 14 new wind and solar projects in the U.S., Canada, Finland, and Spain include:
- Eleven U.S.-based projects that include Amazon’s first solar projects in Arkansas, Mississippi, and Pennsylvania, and additional projects in Illinois, Kentucky, Indiana, and Ohio.
- The company’s second renewable energy project in the Canadian province of Alberta is a 375 MW solar farm, which is also one of the largest in the country. When it comes online in 2022, the solar farm will bring Amazon’s capacity in Canada to more than 1 MWh.
- Amazon’s first project in Finland is a 52 MW wind farm near the country’s west coast. The project is expected to begin producing energy in 2022.
- Amazon’s fifth solar project in Spain will have a generating capacity of 152 MW when it begins contributing power to the grid in 2023, bringing total capacity in the country to more than 520 MW.
iSun tapped for EPC services
iSun, Inc. said it was selected by Fusion Renewables to provide development and EPC services subject to competitive tendering. The contract represents an initial $1.25 million in development financing and construction of 118 MW of solar projects across eight sites in North and South Carolina.
The projects were structured by Fusion Renewables, including siting, land control, and diligence and will be financed and owned by a joint venture between Israel’s Modiin Energy and Alon Gas. The investments mark both companies’ first renewable energy investments in the U.S.
Alon Gas is an Israeli public company that operates in the exploration, development, and production of natural gas, condensate and oil. Modiin Energy holds working interest in producing oil & gas projects in Colorado and California as well as in Israel.
Honeywell announced a battery energy storage system (BESS) platform, which it said integrates Honeywell asset monitoring, distributed energy resource management, supervisory control, and analytics functionality to enable users to forecast and optimize their overall energy use.
The platform will be marketed to commercial and industrial companies, independent power producers, and utilities. The BESS platform includes performance-based guarantees, which include predictable and consistent costs along with improved uptime.
Trent River Solar gains an investor
United Natural Foods Inc. (UNFI) said that in collaboration with Pine Gate Renewables and U.S. Bank, it is investing in Trent River Solar, a 108.5 MW solar facility in Jones County, North Carolina, near the Atlantic Ocean.
The site covers 640 acres and will contain over 800,000 solar panels. UNFI will not acquire the energy created at Trent River nor its renewable energy certificates. The project has a 20-year power purchase agreement, one of the first awarded under Duke Energy’s Competitive Procurement of Renewable Energy program. CIT Group Inc. serves as lead arranger on $126 million financing for the project.
Secure Futures’ secure future
Secure Futures Solar signed an agreement with Alerion RE to provide up to $25 million in equity financing to develop, own, and operate solar power projects in Virginia, West Virginia, and North Carolina. Solar projects will include K-12 public schools, colleges and universities, hospitals, and local government facilities.
The funding is expected to shorten Secure Futures’ development cycle from years to months. Once Secure Futures exhausts the $25 million in funding, Alerion has the option to make additional equity contributions.
Source : PV Magazine