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BIC Magazine June 3, 2021 BPÂ boosted its investment in U.S. renewables with a $220 million purchase of solar projects from developer 7X Energy. The acquisition represents a significant step towards bpâs target of growing its net developed renewable generating capacity to 20GW by 2025 and aim to increase this to 50GW by 2030. The deal will also grow bpâs renewables pipeline from 14GW to 23GW. These assets will be developed through bpâs 50-50 solar joint venture Lightsource bp, a global leader in solar energy, applying Lightsource bpâs capabilities to accelerate bpâs renewables targets. âWith this purchase, we are continuing to put our strategy in action as we grow our renewables business in a deliberate and disciplined way. It brings us 9GW of high-quality solar projects in markets where we can create integrated renewable energy offers through our trading and customer franchises, said Dev Sanyal, bp executive vice president of g ....
By: Reporter, Solar Power Portal A new 500MW portfolio of solar and wind is under development as part of a joint venture between Cubico Sustainable Investments and Peel NRE, with the two to originate, develop and operate the portfolio of projects over the next 5-10 years. A mix of private wire and grid-connected developments, the portfolio is designed to really build momentum according to Matt Boss, head of Northern Europe at Cubico Sustainable Investments. Solar Power Portal caught up with Boss to discuss the need to have a clear route to market from day one, the potential to bid into the Contracts for Difference (CfD) and the huge demand for corporate power purchase agreements (PPAs). ....
By Reuters Staff (Corrects members of consortium) KINSHASA (Reuters) -Democratic Republic of Congo on Thursday signed a $100 million solar-hybrid power deal with a consortium led by Gridworks, to provide electricity to half a million people across three cities that have no grid connection. Solar-hybrid systems combine solar power with another electricity generating energy source. For this 22-year concession, the back up power source will be diesel, Gridworks said. Less than 10% of Congo’s roughly 90 million people have reliable access to electricity. The consortium is led by Gridworks, which is owned and financed by the British development finance institution CDC Group, and includes French utility company Eranove and Spanish power developer AEE Power. ....
Dive Brief: Ensuring a reliable grid and affordable energy remain key priorities for California s utilities as the state charts a path toward its goal of 100% renewable and zero-carbon electricity by 2045, power providers said during a joint agency workshop Wednesday. The meeting, conducted by the California Public Utilities Commission (CPUC), California Energy Commission and California Independent System Operator (CAISO), kicked off a broader regulatory process to begin planning for the build out of new resources to meet that goal. Making sure that reliability in the near term and the longer term continues to be the focus as we decarbonize is a very critical part and priority of this journey, Daniel Hopper, director of resource and environmental planning and strategy at Southern California Edison, said. [W]e are at an inflection point. The old ways of planning simply don t work, he added. ....