The cancellation of an 80-megawatt project with no financial penalty raises questions about a monopoly utility competing against private developers. Monopolies and market competition can make for uneasy bedfellows. North Carolina completed its first competitive solar solicitation in April, as called for in a major energy compromise the legislature passed in 2017. Unlike almost anywhere […]
‘Cheaper Than a Peaker’: NextEra Inks Massive Wind+Solar+Storage Deal in Oklahoma
NextEra will build a combined 700 megawatts for an electric cooperative group in a landmark deal for the hybrid renewables sector. NextEra Energy Resources seems intent on proving that triple hybrid plants can work in the U.S. market. The powerhouse renewables developer contracted this week with Oklahoma-based Western Farmers Electric Cooperative to build the largest […]
Georgia Power Ups Plan for Renewables and Storage After Local Stakeholder Push
Southern Company-owned utility’s larger-than-expected storage rollout points toward a big new market in the Southeast. Georgia’s utility regulators approved a long-term plan that will see Georgia Power drastically expand renewable generation and develop, own and operate up to 80 megawatts of energy storage. The final 2019 Integrated Resource Plan calls for 2,260 megawatts of new […]
L.A. Looks to Break Price Records With Massive Solar-Battery Project
The cheapest U.S. solar PPAs have been coming out of places like West Texas, but developer 8minute Solar has put the spotlight back on California. The Los Angeles Department of Water and Power is preparing to approve a utility-scale solar-battery project that could shatter U.S. records to date, in terms of both storage capacity and […]
Anheuser-Busch Embraces Solar to Power Past Its 100% Renewables Target
The brewing giant announced a 222-megawatt solar project with Recurrent Energy in Texas, a fast-growing hot spot for corporate solar deals. Beer giant Anheuser-Busch announced Tuesday the signing of a 15-year virtual power-purchase agreement with Recurrent Energy for a 222-megawatt (AC) project in West Texas. In 2017, Anheuser-Busch committed to purchasing 100 percent renewable electricity […]
A Facebook First: Tech Giant Invests Directly in a Renewable Project
Analysts say the social media company’s tax-equity investment in a 379-megawatt solar project in Texas could be a sign of deals to come in the corporate renewables market. Facebook announced Thursday it has finalized an agreement to provide tax-equity financing for a 379-megawatt solar project developed by Longroad Energy Partners in West Texas. It’s the […]
First Solar Slips to Q1 Loss but Sees ‘Tremendous Momentum’ in Global Solar Market
U.S. solar giant to restructure its engineering, procurement and construction business after struggling to contain costs in the first quarter of 2019. First Solar swung to a first-quarter loss due to lower project revenue and escalating costs at its engineering, procurement and construction business, but reassured investors that the roll-out of its critical Series 6 […]
Duke Energy Renewables Sells 1.2GW Minority Interest in Wind and Solar Portfolio
The $1.25 billion deal with John Hancock will help fund Duke’s future capital growth and support its renewable energy business. Duke Energy Renewables, the competitive renewables arm of U.S. utility giant Duke Energy, has agreed to sell insurer John Hancock a minority share of its wind and solar portfolio, amounting to 1.2 gigawatts of generation […]
Duke Energy Renewables Sells 1.2GW Minority Interest in Its Wind and Solar Portfolio
The $1.25 billion deal with John Hancock will help fund Duke’s future capital growth and support its renewable energy business. Duke Energy Renewables, the competitive renewables arm of U.S. utility giant Duke Energy, has agreed to sell insurer John Hancock a minority share of its wind and solar portfolio, amounting to 1.2 gigawatts of generation […]
Facebook and Dominion Energy Ink Deal for 350MW of Solar
The historically coal-heavy utility has faced pressure from tech companies to offer more renewable energy in the mid-Atlantic region’s “Data Center Alley.” Facebook and Dominion Energy this week announced a partnership on six solar projects in North Carolina and Virginia adding up to 350 megawatts. The Virginia-based utility developed one of the projects, totaling 20 […]