749 MW DC project online: EDF Renewable North America and Enbridge Inc. have commissioned their 749 MW DC/577 MW AC Fox Squirrel Solar Project in Ohio, US. This is one of the largest utility-scale solar developments east of the Mississippi River, they claim. EDF Renewables says this is the largest onshore renewable energy project that the company has developed and built. This Madison County project is equipped with 1.4 million panels and 159 inverters. The entire project is contracted to supply the power generated to Amazon under power purchase agreements (PPA). Algonquin offloads RE division: North American power and energy infrastructure company LS Power has completed the acquisition of Algonquin Power & Utilities renewable energy business. With the close of this transaction, LS Power has established a new company called Clearlight Energy with more than 3 GW of wind and solar capacity between the US and Canada. Clearlight Energy is led by the former President of Renewables at Algonquin, Jeff Norman as the CEO. Clearlight is also acquiring 1.8 GW of Algonquin’s 8 GW renewable and storage development pipeline. Additionally, LS Power subsidiary REV Renewables will acquire the remaining 6.2 GW of Algonquin’s pipeline, adding it to the company’s existing 2.9 GW of operational wind, solar, and battery energy storage systems (BESS) capacity, expanding the development pipeline to more than 21 GW. The transaction closed on January 8, 2025. Qcells buying 4 solar projects: Canada-headquartered clean energy company SolarBank Corporation will sell 4 of its ground-mounted solar PV projects under development to Qcells, a subsidiary of South Korea’s Hanwha Solutions. The projects are located in upstate New York with a combined 25.57 MW capacity and operated as community solar facilities on completion. Qcells will purchase the 4 projects for close to $49.5 million.888 MW solar and storage project: UK-headquartered ContourGlobal has acquired an 888 MW solar and storage project in the US. It will be developed in 2 phases of 567 MW solar PV and 321 MW/1.3 GWh of BESS as a hybrid project. The project will soon start the procurement and commercialization process in Arizona. It is scheduled to achieve initial commercial operations by 2028. This project marks the company’s entry into the Western US.Linea Energy raises financing: EnCap Investments-backed renewable energy focused developer and independent power producer (IPP) in the US Linea Energy has closed project debt financing for its 109 MW DC utility-scale solar project. The undisclosed loan amount comprises a construction-to-term loan, a tax equity bridge loan, and a letter of credit facility for its Pineview project in Wilcox County, Georgia. The financing has been provided by a syndicate of lenders led by First Citizens Bank and Norddeutsche Landesbank Girozentrale (NORD/LB).$340 million for Nevada project: US Estuary Power, an energy generation and storage projects company from Nevada, has secured a $340 million financing package for its 185 MW solar PV and 400 MWh Escape Solar and Storage Project. It is located in Lincoln County, Nevada, and will come online in 2025. Bechtel Infrastructure and Power Corporation is currently constructing the project using JinkoSolar’s TOPCon modules while Tesla is installing its BESS. Of the total project capacity, Estuary says 115 MW solar and 400 MWh of BESS capacity is contracted to be supplied to MGM Resorts International, 25 MW to Overton Power District, 25 MW to Caesars Entertainment, and 20 MW to Wynn Las Vegas under long-term agreements. The project financing includes a tax equity commitment from Morgan Stanley Renewables, a tax equity bridge loan by First Citizens Bank & Trust Company, NORD/LB, and the National Bank of Canada. It also includes a construction-to-term facility provided by Denham Capital on behalf of its clients.
