esVolta secures $110m tax equity investment for 300MWh energy storage facility
Author: PPD Team Date: 14/11/2024
Author: PPD Team Date: 14/11/2024
esVolta has obtained a $110 million tax equity investment from Greenprint Capital Management to fund its 300 MWh Hummingbird battery energy storage project in San Jose, California.
Set for completion in 2025, the project will provide Pacific Gas & Electric with resource adequacy capacity under a long-term contract and deliver fast-response energy and ancillary services to the California Independent System Operator (CAISO) market.
These services are essential for alleviating grid congestion and strengthening the power infrastructure in San Jose.
The Hummingbird project, currently in the construction phase, will generate approximately 200 union jobs locally. Legal support for the transaction was provided by Orrick, Herrington & Sutcliffe and DCH Law for esVolta, and Leverage Law Group for Greenprint.
In a recent development, esVolta also secured $258 million in senior credit facilities in July to finance a 980 MWh battery portfolio across Texas, including the Anole, Desert Willow, and Burksol projects.
Author: PPD Team Date: 07/05/2025 NTPC Renewable Energy Limited has commenced commercial operations of the final 60 MW at Limbdi, Gujarat, under the 150 MW Gujarat Solar PV Project – Phase XII. With this, the full capacity of the project is now operational. The project, awarded under Phase XII of Gujarat Urja Vikas Nigam Limited (GUVNL), is spread across three sites. It includes 60 MW at Radhanpur in Patan district, 30 MW at Mesanka in…
Author: PPD Team Date: 20/12/2024 Vestas has signed contracts for 225MW of wind turbine projects in the US, Germany, and New Zealand, as part of its Q4 2024 order intake. In the US, Vestas received an 86MW order from Brookfield Renewable for the Mulqueeney project. It will deploy V163-4.5MW turbines, with a ten-year AOM 5000 service agreement. In New Zealand, Vestas secured a 77MW contract with Mercury Energy for the Kaiwaikawe project. The project will…
Author: PPD Team Date: 28/10/2024 As India aims to double its power capacity to 900 GW by 2030, a report by Aequitas Investments highlights concerns about potential overinvestment, cautioning against repeating past industry missteps. The report points to aggressive bidding without firm power purchase agreements (PPAs) and a reliance on costly imported coal, warning that these practices could lead to financial instability reminiscent of the 2008 sector downturn. The analysis reveals that private sector expansions…
Author: PPD Team Date: 05/12/2024 Centrica, in partnership with EDF, has announced the extension of the operational lives of its four advanced gas-cooled reactor nuclear power stations. Heysham 1 and Hartlepool will now operate until March 2027, while Heysham 2 and Torness will continue until March 2030. These extensions will add 9TWh to Centrica’s electricity generation capacity between 2026 and 2030, supporting the UK’s baseload power generation. The decision follows a comprehensive review to ensure…
Author: PPD Team Date: 22/04/2025 Uttar Pradesh is stepping up its solar push. The state plans to install 8 lakh rooftop solar units by March 2027 under the PM Surya Ghar Yojana. The Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) is leading the effort. For the current financial year, the target is 2.65 lakh units. To stay on track, the state is aiming for 22,000 installations every month. The goal is to boost…
Author: PPD Team Date: 26/11/2024 Bharat Heavy Electricals Limited (BHEL) has awarded a Rs 52.28 million contract to PK Unique Projects Pvt. Ltd., Chennai, for civil, structural, and architectural works, including supply, as part of the renovation, modernization, and uprating of Kodayar Power House I in Tamil Nadu. The project, under the Tirunelveli Generation Circle, will enhance the plant’s capacity from 1×60 MW to 1×70 MW. The contract was finalized through an open tender process…
Author: PPD Team Date: 07/05/2025 NTPC Renewable Energy Limited has commenced commercial operations of the final 60 MW at Limbdi, Gujarat, under the 150 MW Gujarat Solar PV Project – Phase XII. With this, the full capacity of the project is now operational. The project, awarded under Phase XII of Gujarat Urja Vikas Nigam Limited (GUVNL), is spread across three sites. It includes 60 MW at Radhanpur in Patan district, 30 MW at Mesanka in…
Author: PPD Team Date: 20/12/2024 Vestas has signed contracts for 225MW of wind turbine projects in the US, Germany, and New Zealand, as part of its Q4 2024 order intake. In the US, Vestas received an 86MW order from Brookfield Renewable for the Mulqueeney project. It will deploy V163-4.5MW turbines, with a ten-year AOM 5000 service agreement. In New Zealand, Vestas secured a 77MW contract with Mercury Energy for the Kaiwaikawe project. The project will…
Author: PPD Team Date: 28/10/2024 As India aims to double its power capacity to 900 GW by 2030, a report by Aequitas Investments highlights concerns about potential overinvestment, cautioning against repeating past industry missteps. The report points to aggressive bidding without firm power purchase agreements (PPAs) and a reliance on costly imported coal, warning that these practices could lead to financial instability reminiscent of the 2008 sector downturn. The analysis reveals that private sector expansions…
Author: PPD Team Date: 05/12/2024 Centrica, in partnership with EDF, has announced the extension of the operational lives of its four advanced gas-cooled reactor nuclear power stations. Heysham 1 and Hartlepool will now operate until March 2027, while Heysham 2 and Torness will continue until March 2030. These extensions will add 9TWh to Centrica’s electricity generation capacity between 2026 and 2030, supporting the UK’s baseload power generation. The decision follows a comprehensive review to ensure…
Author: PPD Team Date: 22/04/2025 Uttar Pradesh is stepping up its solar push. The state plans to install 8 lakh rooftop solar units by March 2027 under the PM Surya Ghar Yojana. The Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) is leading the effort. For the current financial year, the target is 2.65 lakh units. To stay on track, the state is aiming for 22,000 installations every month. The goal is to boost…
Author: PPD Team Date: 26/11/2024 Bharat Heavy Electricals Limited (BHEL) has awarded a Rs 52.28 million contract to PK Unique Projects Pvt. Ltd., Chennai, for civil, structural, and architectural works, including supply, as part of the renovation, modernization, and uprating of Kodayar Power House I in Tamil Nadu. The project, under the Tirunelveli Generation Circle, will enhance the plant’s capacity from 1×60 MW to 1×70 MW. The contract was finalized through an open tender process…
Author: PPD Team Date: 07/05/2025 NTPC Renewable Energy Limited has commenced commercial operations of the final 60 MW at Limbdi, Gujarat, under the 150 MW Gujarat Solar PV Project – Phase XII. With this, the full capacity of the project is now operational. The project, awarded under Phase XII of Gujarat Urja Vikas Nigam Limited (GUVNL), is spread across three sites. It includes 60 MW at Radhanpur in Patan district, 30 MW at Mesanka in…
Author: PPD Team Date: 20/12/2024 Vestas has signed contracts for 225MW of wind turbine projects in the US, Germany, and New Zealand, as part of its Q4 2024 order intake. In the US, Vestas received an 86MW order from Brookfield Renewable for the Mulqueeney project. It will deploy V163-4.5MW turbines, with a ten-year AOM 5000 service agreement. In New Zealand, Vestas secured a 77MW contract with Mercury Energy for the Kaiwaikawe project. The project will…