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POWERGRID Tenders 500 MW/1,000 MWh Battery Energy Storage Projects

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					</table>The U.S. has announced plans for an offshore wind energy lease sale in the Central Atlantic region in a push for clean energy development along America&#8217;s coasts.
The auction, scheduled for August 14, 2024, could generate up to 6.3 GW of renewable energy, according to the <a href="https://www.doi.gov/" target="_blank" rel="noopener">Department of the Interior</a>. This is enough to power approximately 2.2 million homes.
The lease sale will offer two areas: one offshore Delaware and Maryland and another offshore Virginia. The Delaware/Maryland area covers 101,443 acres and is located about 26 nautical miles from Delaware Bay. The Virginia area encompasses 176,505 acres and sits roughly 35 nautical miles from the mouth of the Chesapeake Bay.
The Bureau of Ocean Energy Management (<a href="https://www.boem.gov/" target="_blank" rel="noopener">BOEM</a>) <a href="https://www.mercomindia.com/us-three-offshore-wind-energy-areas-central-atlantic" target="_blank" rel="noopener">finalized</a> these areas last year. It was said at the time that these areas potentially support 4 GW to 8 GW in energy generation when fully developed.
Since 2020, the U.S. has approved eight large-scale wind projects in federal waters and held four lease sales in various coastal areas, including the first-ever sales on the Pacific and Gulf of Mexico coasts. The Department of the Interior plans to hold up to 12 more lease sales by 2028.
The auction includes bidding credits for companies that commit to investing in workforce training programs or developing domestic supply chains for the offshore wind industry. Additionally, stipulations encourage project labor agreements and require regular communication with Tribes, agencies, and fisheries.
Seventeen companies have qualified to participate in the August sale.
Last year, 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.
The strategy aims to lower costs from $73/MWh to $51/MWh by 2030, develop a domestic supply chain, and inform sustainable, just deployment of fixed-bottom offshore wind.

US to Auction Areas in Central Atlantic Region for Offshore Wind Energy

<a href="https://srenergy.com/" target="_blank" rel="noopener">Summit Ridge Energy</a>, a solar project developer, announced the acquisition of 19 community solar projects totaling 100 MW across the Commonwealth of Virginia. The acquired portfolio comprises projects spanning from Virginia’s southernmost border up to the Richmond and the D.C. metropolitan areas.
The projects, expected to be operational by the end of 2024, will generate enough power to lower the energy bills for 12,600 homes across 16 counties.
The Shared Solar Program, launched as part of the Virginia Clean Economy Act, is designed to support the state’s decarbonization goals and incentivize equitable access to clean energy.
The acquisition is expected to enable Summit Ridge to deliver 100% of the solar energy cost savings to low-income households.
The portfolio of 19 community solar projects was acquired from seven partners, including Apex Clean Energy, ESA Solar, ForeFront Power, New Leaf Energy, RWE Clean Energy, and SolAmerica Energy. The acquisitions were made by Summit Ridge’s joint venture with Osaka Gas USA Corporation, a subsidiary of Osaka Gas Co., Ltd.
“This new portfolio is an example of our ability to execute in a challenging economic environment and demonstrates our commitment to our home state of Virginia,” said Steve Raeder, Chief Executive Officer at Summit Ridge. “More importantly, all of the savings generated by each solar project will be offered to low-income customers, reducing electricity bills for thousands of Virginia households.”
According to Mercom’s 9M and Q3 2023 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-q3-2023-solar-funding-ma-report/" target="_blank" rel="noopener">Report</a>, in the first nine months (9M) of 2023, there were a total of 166 project acquisitions for 31.6 GW compared to 207 projects acquired for 52.1 GW in 9M 2022.
Rubis Photosol, an independent French energy operator, <a href="https://cms.mercomindia.com/rubis-photosol-acquires-29-mw-solar-portfolio-in-spain/" target="_blank" rel="noopener">recently</a> acquired a 29 MW solar portfolio in Spain from the European Solar Energy Development JV, a collaborative venture established between Emeren and Eiffel Investment Group, a French asset manager.

Summit Ridge Acquires 100 MW of Community Solar Projects in Virginia

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					</table><a href="https://www.energixrenewables.com/" target="_blank" rel="noopener">Energix Renewables</a>, a U.S.-headquartered independent power producer, has closed two project financing transactions totaling $520 million with Santander Corporate &amp; Investment Banking (<a href="https://www.santandercib.com/" target="_blank" rel="noopener">Santander CIB</a>) and <a href="https://www.morganstanley.com/articles/decarbonization-renewable-energy-investment-ideas" target="_blank" rel="noopener">Morgan Stanley Renewables</a> to develop six utility-scale solar projects in the U.S.
The financing deals involve a consortium led by Santander CIB, providing a construction and term loan facility of $260 million, while Morgan Stanley acts as a tax equity investor with a commitment of $260 million.
The funds raised through these transactions will be used to develop six utility-scale solar projects in Virginia and Pennsylvania.
The projects cumulatively are expected to generate a combined capacity of 416 MW (DC), providing domestically produced power to local grids.
The company said the significant boost to the local economies would not only increase tax revenues but also create hundreds of well-paying construction jobs.
One project within the portfolio is the Adams Solar project, which is projected to meet 22% of the City of Philadelphia&#8217;s municipal electricity demand.
With the investment, Energix is projected to have 640 MW (DC) of operational projects by the end of 2023. The company said the expansion would contribute to the company&#8217;s investment in American energy infrastructure, approaching a total of $1 billion, and also strengthen the solar workforce in the Mid-Atlantic and promote sustainable energy solutions across the region.
&#8220;Energix is delighted to further strengthen its longstanding partnership with Morgan Stanley. This continued collaboration reinforces Energix&#8217;s position as a leading independent power producer in the US market,&#8221; stated Asa (Asi) Levinger, CEO of Energix.
The recent transaction marks the third tax equity deal between Energix and Morgan Stanley.
The company has established a new partnership with Santander CIB, expanding its collaboration to the U.S. The alliance aims to leverage Santander&#8217;s extensive network and resources, allowing Energix to expand its footprint.
&#8220;Santander Corporate &amp; Investment Banking is proud to continue supporting Energix in the development of their global renewable pipeline by expanding our existing relationship to the U.S., allowing the company to continue delivering high-quality utility-scale projects,&#8221; said Nuno Andrade, Head of Structured &amp; Acquisition Finance in the U.S.
Energix Renewables has said it would exclusively use modules from U.S.-based solar module manufacturer <a href="https://www.firstsolar.com/en-IN/" target="_blank" rel="noopener">First Solar</a> to ensure the use of domestically produced materials.
According to Mercom’s <a href="https://mercomcapital.com/product/q1-2023-solar-funding-ma-report/" target="_blank" rel="noopener">Q1 2023 Solar Funding and M&amp;A Report</a>, total corporate funding for solar companies, including from venture capital, public market, and debt financing, amounted to $8.4 billion in 42 deals in the first quarter of 2023, up 11% year-over-year compared to $7.5 billion raised in 49 deals.

Energix Renewables Secures $520 Million for Six Solar Projects in the US

<a href="https://www.longroadenergy.com/" target="_blank" rel="noopener">Longroad Energy</a>, a US-based renewable energy projects developer, owner, and operator, has sold its 108 MW Foxhound solar project to Dominion Energy. Foxhound, located in Halifax County, Virginia, has begun construction.
The financial details of the acquisition details were not disclosed. The project has long-term power purchase agreements. The financial close of the acquisition is expected once the Foxhound project reaches mechanical completion, which is anticipated for January 2024.
KeyBank and HSBC served as lenders. Balch &amp; Bingham served as Longroad’s counsel on the transaction. The project also has long-term Power Purchase Agreements.
“Foxhound marks Longroad’s first solar project in Virginia and our first greenfield development project in PJM,” says Paul Gaynor, CEO of Longroad Energy. “We are pleased that Dominion Energy will be acquiring Foxhound to help support the sustainability goals of its key customers and renewable energy objectives set out in the Virginia Clean Economy Act.”
U.S.-based First Solar has supplied Foxhound with its domestically made Series 6+ solar modules. Nextracker is providing trackers for the project, and TMEIC is supplying solar inverters.
Foxhound is the first utility-scale project to be certified as Virginia Pollinator-Smart, a biodiversity program overseen by the Virginia Department of Conservation and Recreation (DCR) and the Virginia Department of Environmental Quality (DEQ). As part of its certification, the Foxhound project will use native plant species under the solar panels and a pollinator-friendly seed mix around the arrays.
According to Mercom’s Annual and Q4 2022 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-q4-2022-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, 268 large-scale solar project acquisitions were recorded in 2022 compared to 280 in 2021. In 2022, about 66 GW of solar projects were acquired, with project developers acquiring the most, reaching 35.7 GW. In December 2022, Longroad Energy <a href="https://cms.mercomindia.com/longroad-energy-acquires-solar-project-california-sunpin/" target="_blank" rel="noopener">acquired</a> a 98 MW solar project from Sunpin Holdings. The project has been operational since December 2020 in Imperial County, California.

Longroad Energy Sells a 108 MW Solar Project in Virginia to Dominion Energy

<a href="https://www.canadiansolar.com/" target="_blank" rel="noopener">Canadian Solar</a>, a vertically integrated manufacturer of silicon ingots, wafers, and PV cells and modules, announced its wholly-owned subsidiary, <a href="https://recurrentenergy.com/" target="_blank" rel="noopener">Recurrent Energy</a>, has completed a purchase and sale agreement with Appalachian Power for Recurrent’s Firefly Energy solar project located in Pittsylvania County, Virginia.
With a capacity of 150 MW, the project will be Appalachian Power’s largest solar energy acquisition to date. It will help the utility meet its clean energy requirements under the Virginia Clean Economy Act (VCEA).
The Firefly Energy solar project will be developed and constructed by Recurrent under a Build Transfer Agreement (BTA). Pending local and state permits and other regulatory approvals, the project’s construction is expected to start in early 2023 and reach commercial operation in 2024. Once construction is completed, Appalachian Power, which serves customers in Virginia, West Virginia,  and Tennessee, will be the long-term owner of the project.
Recurrent received approval on its Siting Agreement for the project earlier in December 2021 from the Pittsylvania County Board of Supervisors. The agreement provides $2.25 million in upfront payments to Pittsylvania County in addition to long-term revenue for public services over the life of the project.
“The Firefly project in Virginia expands our growing footprint across the eastern U.S., delivering turnkey projects for utilities and other investors,” said Dr. Shawn Qu, chairman, and CEO of Canadian Solar. “We are pleased to have been selected through a competitive process and to be a part of Appalachian Power’s major solar energy expansion. We look forward to advancing this project through development and construction and delivering a renewable solar energy project to Appalachian Power that will help them serve their Virginia customers,” he added.
According to Mercom’s recently published annual and Q4 solar funding and m&amp;a <a href="https://cms.mercomindia.com/product/annual-q4-2021-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, over 68 GW of large-scale solar projects were acquired in 2021.

Recurrent Energy Sells 150 MW Virginia Solar Project to Appalachian Power

<a href="https://www.appalachianpower.com/" target="_blank" rel="noopener">Appalachian Power</a>, an electric utility in the United States, has invited bids to develop 300 MW of solar and wind projects. The request for bids is the first in a series of requests for proposal (RfP) that the company has planned for this year to comply with the Virginia Clean Economy Act (VCEA).
Under the VCEA, the company must meet the annual targets to achieve a 100% carbon-free economy in its Virginia territory by 2050.
Depending on the results of the RfP, the company may pursue additional resources beyond 300 MW. The minimum bid capacity for this RfP has been fixed as 50 MW.
The last date to submit the bids is March 31, 2021, and bidders will be shortlisted on April 30. The projects should be operational by mid-December 2023, although proposals with an operational date of no later than December 15, 2024, will also be considered.
Appalachian Power is seeking wind projects that will qualify for the federal tax credit and solar projects that will qualify for the federal investment tax credit. The solar projects must be interconnected to the power pool and located in Virginia.
For project development, the bidder must have established site control of the proposed project, and it should be in the form of direct ownership, land lease, or easement. The solar panels and inverters must be manufactured by approved vendors. The wind project turbines should be manufactured by GE, Vestas, and Siemens-Gamesa.
Chris Beam, President, and Chief Operating Officer, Appalachian Power, said, “This is Appalachian Power’s largest request yet in a single year for renewable energy bids. We look forward to reviewing the proposals and issuing more requests for bids later this year as we expand our portfolio and reliance on clean energy.”
The bidders can include a battery energy storage system, which should not be more than 20% of the project capacity. The bidder is responsible for all costs associated with transmission interconnections and system upgrades as required by the interconnecting utility.
Appalachian Power, a part of <a href="https://www.aep.com/" target="_blank" rel="noopener">American Electric Power</a>, is a renewable energy company, producing approximately 1,900 Gigawatt hours of energy annually from wind and hydropower.
In August 2020, AEP <a href="https://www.aep.com/news/releases/read/5718/AEP-Renewables-Purchases-Invenergy-Share-Of-Desert-Sky-And-Trent-Mesahttps:/www.aep.com/news/releases/read/5718/AEP-Renewables-Purchases-Invenergy-Share-Of-Desert-Sky-And-Trent-Mesa" target="_blank" rel="noopener">said</a> that its renewable energy subsidiary AEP Renewables completed the purchase of Invenergy’s 20.1% interest in the Dessert Sky and Trent Mesa wind projects in Texas. AEP Renewables owns 1.36 GW of large-scale solar, wind, and energy storage projects across the United States.
AEP Energy Partners, another AEP subsidiary, <a href="https://www.prnewswire.com/news-releases/aep-energy-partners-signs-letter-of-intent-to-purchase-50-mw-output-from-columbus-solar-park-301159408.html" target="_blank" rel="noopener">signed</a> a letter of intent with BQ Energy Development to purchase 100% offtake of the Columbus Solar Park in Columbus, Ohio. The solar project is scheduled to be operational by December 2022, and once completed, will have the capacity to power 5,000 homes.

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