Financial & Legal

Chicago has entered into an agreement with Constellation for the purchase of renewable energy to supply its facilities by 2025.

The Public Service Commission of the District of Columbia (DCPSC) has approved a 15-year power purchase agreement (PPA) with renewables developer Invenergy for 73MW of solar power to meet a 5% renewables target for district’s default electricity supply.

Renewables owner and operator Brookfield Renewable has recorded a strong second quarter and has deployed more than US$3 billion.

Renewables developer and sustainability services provider Enfinity Global has secured ¥29 billion (US$242 million) in long-term financing for three recently completed utility-scale solar plants in Japan totalling 70MW.

The Inflation Reduction Act (IRA), which includes US$369 billion in energy security and climate change programmes over the next ten years, passed in the US Senate on Sunday, paving the way for its movement to the House of Representatives and subsequent signing by President Joe Biden.

India deployed 8,359MW of solar PV in the first half of the year, marking a significant increase of 71% compared to the same period last year

Energy technology company AES Corporation is still on track to reach its target of 4.5-5.5GW in long-term renewables and energy storage contracts in 2022, having already signed 1,618MW in the year to date, according the firm’s Q2 financial report.

Spanish developer X-Elio has been awarded 15MW of solar PV capacity in Japan’s first feed-in premium (FiP) auction.

Chemicals company BASF has entered into virtual power purchase agreements (VPPAs) for 250MW of solar PV and wind power in the US.

US-based start-up Terabase Energy has secured US$44 million in a Series B fundraising round co-led by Bill Gates’ Breakthrough Energy Ventures and venture capital firm Prelude Ventures among others to drive the commercialisation of  its automated solar park construction technology.