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<p><a href="https://natrs.com/" target="_blank" rel="noopener">National Renewable Solutions</a> (NRS), a renewable energy project developer, secured $145 million in project financing for the 140 MW solar and 50 MW storage Shallow Basket Project in Rio Arriba County, New Mexico. Deutsche Bank provided the construction financing for the project.</p>
<p>The project, located about 30 miles west of Cuba, New Mexico, is currently under construction and is expected to reach commercial operation in 2025.</p>
<p>Guzman Energy will purchase 100% of the electricity produced from the project. The Jicarilla Apache Nation is leasing its land for the project, benefitting from the power produced through its wholesale supply agreement with Guzman Energy.</p>
<p>Albuquerque-based Gridworks will provide engineering, procurement, and construction services, while NRS will continue to own and operate the project. According to NRS, the project is expected to generate 250 jobs upon completion.</p>
<p>&#8220;The Shallow Basket Project embodies our commitment to a sustainable future and economic self-sufficiency for the Jicarilla Apache Nation,&#8221; said President Adrian Notsinneh, Jicarilla Apache Nation. &#8220;By harnessing renewable energy on our lands, we&#8217;re building a legacy of environmental stewardship. We are protecting our environment and creating new opportunities for economic growth that will ensure prosperity for future generations.&#8221;</p>
<p>According to Mercom’s 9M and Q3 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-and-q3-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, large-scale project funding in 9M 2024 totaled $34.3 billion in 180 deals, up from $27.5 billion in 169 deals in 9M 2023.</p>
<p>Last month, Clearway Energy Group, a developer and operator of clean energy projects, announced the financial <a href="https://cms.mercomindia.com/clearway-closes-financing-for-solar-and-storage-projects/" target="_blank" rel="noopener">closure</a> of the 300 MW Pine Forest solar and 200 MW Pine Forest standalone storage projects in Hopkins County, Texas, which are now under construction.</p>


National Renewable Solutions Secures $145 Million in Project Financing


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					</table><p>Solar module manufacturer <a href="https://maxeon.com/" target="_blank" rel="noopener">Maxeon Solar Technologies</a> has announced a 3 GW TOPCon photovoltaic-silicon cell and shingled-cell performance line solar module manufacturing facility to be developed in Albuquerque, New Mexico.</p>
<p>With an estimated investment exceeding $1 billion, the project&#8217;s realization is contingent upon a successful financial closure facilitated by the U.S. Department of Energy&#8217;s (DOE) Title 17 Clean Energy Financing Program.</p>
<p>The facility, which will manufacture the company’s latest iteration of TOPCon photovoltaic-silicon cell technology, aims to help meet the escalating demand for domestically produced solar cells and modules in the U.S.</p>
<p>The projected manufacturing capacity is roughly twice the size of the largest operational silicon solar manufacturing plant in the U.S.</p>
<p>Maxeon is slated to commence construction in the initial quarter of 2024, with the ramp-up of factory operations scheduled to initiate in 2025.</p>
<p>The facility is expected to cater to both the expansive utility-scale power project sector and the burgeoning market of distributed generation rooftop solar applications.</p>
<p>Maxeon is presently in the process of due diligence pertaining to its loan application.</p>
<p style="text-align: center;"><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/08/image_2023_08_10T21_10_48_805Z.png"><img loading="lazy" decoding="async" class="alignnone wp-image-57392 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/08/image_2023_08_10T21_10_48_805Z.png" alt="Maxeon Manufacturing Facility" width="2577" height="1457" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/08/image_2023_08_10T21_10_48_805Z.png 2577w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/08/image_2023_08_10T21_10_48_805Z-300x170.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/08/image_2023_08_10T21_10_48_805Z-2000x1131.png 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/08/image_2023_08_10T21_10_48_805Z-768x434.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/08/image_2023_08_10T21_10_48_805Z-1536x868.png 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/08/image_2023_08_10T21_10_48_805Z-2048x1158.png 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/08/image_2023_08_10T21_10_48_805Z-650x368.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/08/image_2023_08_10T21_10_48_805Z-624x353.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/08/image_2023_08_10T21_10_48_805Z-600x339.png 600w" sizes="auto, (max-width: 2577px) 100vw, 2577px" /></a></p>
<p>Speaking on the development, Bill Mulligan, CEO of Maxeon, said, &#8220;Our new solar cell and panel facility in New Mexico is an ambitious and concrete response to the need to decarbonize the U.S. economy while creating permanent highly-skilled local manufacturing and engineering jobs. Maxeon is well-positioned to play a significant role in this process by virtue of our experience in deploying and operating world-class solar cell and panel technology.&#8221;</p>
<p>Maxeon has identified a 160-acre parcel of land in the Mesa Del Sol community as the optimal location for the facility.</p>
<p>This addition to Maxeon&#8217;s global manufacturing network, which already encompasses facilities in Mexico, Malaysia, and the Philippines, is expected to underscore the company&#8217;s strategic expansion into New Mexico.</p>
<p>The company <a href="https://www.mercomindia.com/higher-q4-revenue-46-yoy" target="_blank" rel="noopener">posted</a> $324 million in revenue for the fourth quarter of the financial year 2022, a year-over-year (YoY) increase of 46%. The company shipped 734 MW of solar modules during the quarter, up 27% YoY from 577 MW.</p>
<p>Earlier, Maxeon had <a href="https://www.mercomindia.com/daily-news-wrap-up-suzuki-motor-invest-1-25-billion-ev-gujarat" target="_blank" rel="noopener">announced</a> that it would supply approximately 400 MW of its high-efficiency shingled bifacial performance line solar modules to Origis Energy, a solar and storage developer. The modules will be used in Origis&#8217; U.S. utility-scale projects.</p>


Maxeon Solar to Build 3 GW TOPCon Cell and Panel Manufacturing Facility in US


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					</table><p>The <a href="https://www.doi.gov/" target="_blank" rel="noopener">U.S. Department of the Interior</a> is set to conduct the first-ever offshore wind energy lease sale in the Gulf of Mexico. The move aims to accelerate the deployment of 30 GW of offshore wind energy by 2030, paving the way for a carbon-free electricity sector by 2035.</p>
<p>The upcoming lease auction, scheduled for August 29, 2023, will offer three key lease areas with significant potential.</p>
<p>The first area, Lease Lake Charles, encompasses 102,480 acres, with a minimum bid of $5.12 million. The second area, Galveston I, covers 102,480 acres, with a minimum bid of $5.12 million. Lastly, Galveston II, spanning 96,786 acres, holds a minimum bid of $4.83 million.</p>
<p>The lease areas present opportunities to generate approximately 3.7 GW of clean and renewable energy, capable of powering nearly 1.3 million homes.</p>
<p>To participate in the auction, each bidder must submit a bid deposit of $2 million per lease area no later than August 13, 2023. The Bureau of Ocean Energy Management (<a href="https://www.boem.gov/" target="_blank" rel="noopener">BOEM</a>) will retain the bid deposit of any provisionally winning bidder who fails to return the signed lease form in time, establish financial assurance, or pay the balance of its bid.</p>
<p>The minimum bid is the lowest dollar amount per acre that BOEM will accept as a winning bid and is the amount at which it will start the bidding in the auction.</p>
<p>The bureau has established a minimum bid of $50 /acre for this lease auction and issued a list of identified eligible companies.</p>
<p>The eligible bidders are 547 Energy, Avangrid Renewables, Coastal Offshore Renewable Energy, energyRe Offshore Wind Holdings, Equinor Wind US, Gulf Coast Offshore Wind, Gulf Wind Offshore, Hanwha Offshore North America, Hanwha Q CELLS USA Corp, Hecate Energy, Invenergy GOM Offshore Wind, RWE Offshore US Gulf, Shell New Energies US, TotalEnergies Renewables USA, and US Mainstream Renewable Power.</p>
<p>“The Gulf of Mexico is poised to play a key role in our nation’s transition to a clean energy future,” said Bureau of Ocean Energy Management’s Director Elizabeth Klein. “Today’s announcement follows years of engagement with government agencies, states, ocean users, and stakeholders in the Gulf of Mexico region. We look forward to continued collaboration in the years to come.”</p>
<p>In March, the U.S. Department of Energy <a href="https://www.mercomindia.com/us-strategy-offshore-wind-2030" target="_blank" rel="noopener">released</a> its Offshore Wind Energy Strategy, which targets deploying 30 GW of offshore wind projects by 2030 while spurring $12 billion per year in direct private investment.</p>
<p>According to the U.S. National Renewable Energy Laboratory, the country needs to <a href="https://mercomindia.com/us-needs-to-deploy-90-gw-solar-150-gw-wind-capacity-annually-to-decarbonize-electric-grid/" target="_blank" rel="noopener">deploy</a> 70–150 GW of wind energy and 40–90 GW of solar every year until 2030 to decarbonize America’s power sector by 2035.</p>


US Announces First Ever Offshore Wind Lease Sale in the Gulf of Mexico

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