US renewables developer Nova Clean Energy has acquired a solar and wind portfolio on the Texas Gulf Coast from BNB Renewable Energy, which has a combined power generation capacity of 1GW.
The portfolio, known as HyFuels, consists of two wind and two solar projects, alongside a green ammonia development facility. The projects are in what Nova called “mid-to-late-stage” development, with the first phase of the project is expected to reach full Notice to Proceed (NTP) and enter commercial operation in 2025.
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Nova first partnered with BNB to provide what it calls “long-term development services” at the portfolio in 2023, and will now take on responsibility for commissioning the projects.
“The Texas grid is going to continue to need a variety of power sources to serve its fast-growing demand,” said Nova president Ben Pratt. “Wind paired with solar provides a generation profile that industrial as well as utility customers increasingly want to see.”
While Nova has not specified how it will use the power generated at the portfolio, it noted that the HyFuels project is “ideally situated to serve the petrochemical industry” in Texas. The state’s energy grid has come under scrutiny in recent years, with lawyer Winston P Skinner telling PV Tech Premium that the damage caused by Winter Storm Yuri, which hit the state in 2021, encouraged lawmakers to prioritise grid resilience in the future.
More recently, the fall of “golf-ball sized” hailstones onto the Fighting Jays solar project in the state have raised questions about the ability of the Texas solar sector to withstand extreme weather events, but the leaders of both BNB and Nova are optimistic about the future of the HyFuels portfolio.
“A lot of important stakeholders have come together to help us get to this point, and we want to thank the landowners, community members and local officials, including the county commissioners, the ISD, and the VEDC, for their ongoing support,” said BNB CEO Jos Nicholas.