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Jupiter Power secures $225 million credit facility to boost 12,000 MW energy storage pipeline

Jupiter Power has closed a $225 million corporate credit facility to expand its energy storage portfolio across the United States.  The facility includes up to $175 million in letters of credit and $50 million in revolving loans.  Coordinated by Barclays Bank PLC, HSBC Bank USA, and Sumitomo Mitsui Banking Corporation, this financing will support Jupiter Power’s 12,000 MW development pipeline. Kirkland & Ellis acted as counsel for Jupiter Power, while Latham & Watkins represented the…

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Jupiter Power launches 400 MWh battery storage facility in Houston

Jupiter Power has commenced commercial operations for its 400 megawatt hours (MWh) Callisto I battery energy storage system (BESS) in Houston, Texas. This facility, strategically located near the Medical Center and Houston ship channel, is expected to enhance the city’s supply of reliable zero-emissions power. Built on the site of the former HL&P H O Clarke fossil fuel power plant, the Callisto I Energy Center has the potential to add another 400MW/800MWh of battery storage….

Power Sector News Roundup for November 6, 2024

Global: Westbridge sells 75% stake in Alberta’s Sunnynook solar project to METLEN Emeren and Arpinge partner on 300MW battery storage portfolio in Italy EDF Renewables signs 20-year energy storage PPA with APS for 250 MW Beehive BESS UAE’s Nakheel and DEWA partner on 132 kV substation in Palm Jebel Ali Canada proposes 35% emissions cap on oil and gas sector by 2030 ACCIONA Energía acquires 300 MW of wind capacity in Texas FTC Solar to…

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Texas grapples with power demand from data centres and cryptocurrency mining

Electricity consumption in Texas is rising faster than any other state, driven largely by computing facilities and cryptocurrency mining, according to the US Energy Information Administration (EIA). The Electric Reliability Council of Texas (ERCOT), which manages 90% of the state’s grid, is registering large flexible loads (LFL) — facilities with power demands exceeding 75MW that can adjust consumption rapidly — to prevent wholesale power prices from spiking. By 2025, LFL demand is expected to reach…

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Adani Energy’s $1 billion QIP oversubscribed six times, attracts top investors

Adani Energy Solutions’ $1 billion qualified institutional placement (QIP) was oversubscribed six times, drawing over Rs 500 billion in demand. Billionaire Stanley Druckenmiller’s Duquesne Family Office and two other US-based long-only funds, Driehaus Capital Management and Jennison Associates, made their maiden investment in the Adani Group’s power transmission business through this QIP. The $1 billion QIP attracted more than 120 investors interested in the power transmission, distribution, and smart metering sectors. Other top global investors…

Global

News Subsections News India Global Cadeler secures turbine installation contract fir UK’s EA 2 wind farm November 7, 2024 Cadeler has signed firm contracts for transporting and installing 64 offshore wind turbines, each with a capacity of 15 MW, along with their foundations for the East Anglia 2 (EA2) wind farm, a 960 MW project in the UK.  The contract value for… E2E Energy and Novus Earth to develop geothermal project in Canada November 7,…