ROUND UP: D.E. Shaw buys First Solar project, 8minutenergy partners PG&E, India’s NTPC Masala Bond


D. E. Shaw buys 11MW Rancho Seco solar project from First Solar

Source: First Solar

D.E. Shaw Renewable Investments announced the acquisition by a DESRI affiliate of the 11MW Rancho Seco solar project from First Solar yesterday.

Terms of the deal were not disclosed.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The project is located in Sacramento County and is situated on around 24 hectares of land owned by the Sacramento Municipal Utility District (SMUD), which holds the 20-year PPA for the plant. Rancho Seco also features First Solar’s thin-film modules mounted in single-axis PV trackers, and is set to produce more than 23,000MWh of electricity annually.

The solar park will provide power for SMUD's commercial SolarShares programme, which provides clean energy to the Golden 1 Center Sports arena. The arena, currently under construction, will obtain approximately 85% of its power from the project.

8minutenergy wins 26MW Redwood solar farm for PG&E

This is the third Redwood Solar farm project that 8minutenergy has won through California’s RAM (Renewable Auction Mechanism) programme. Source: 8minutenergy

California-based solar developer 8minutenergy has partnered with Pacific Gas & Electric (PG&E) to develop a fourth Redwood solar farm for 36MW in central California.

Construction for the solar farm, located near Bakersfield, will begin in 2017. Development of the Redwood 4 project is anticipated to create about 200 jobs in Kern County, and follows three other Redwood solar farms that 8minutenergy has developed, totalling more than 72MW.

The project will be allocated under the utility’s residential Solar Choice programme, which allows homeowners to purchase up to 100% of their electricity from solar power, without needing to install panels.

NREL launches energy profiles for every US city and a toolbox for city energy actions

The new tools are designed to help cities nationwide make more strategic energy decisions based on actual and estimated data and analysis. Source: NREL

The DOE’s National Renewable Energy Laboratory (NREL) has launched two new data-driven tools to help US cities identify strategic paths towards a clean energy future.

The new tools which utilise collated data and analysis have been released as part of the Cities Leading through Energy Analysis and Planning (Cities-LEAP) project.

The new City Energy Profile tool will derive city-specific data for 23,400 cities across the US and will provide estimates of electricity and natural gas use and costs by sector, as well as generating energy market profiles that provide data on fuel types. It also provides a snapshot of the top energy-consuming industries in each city.

The Local Energy Toolbox contains more than 500 searchable resources based on cities’ energy activities. 

India’s NTPC issues first Green Masala Bonds

Credit: NTPC

India’s largest utility NTPC has issued its first Green Masala Bonds worth INR20 billion (US$299 million).

Masala bonds are Indian rupee denominated bonds issued in offshore capital markets.

Mines and Energy minister Piyush Goyal said: “The five-year bond has a coupon of 7.375% and yield of 7.48% which is 20 basis points lower than domestic AAA -5 year benchmark yield today.”

The proceeds will be used for financing renewable projects and the bond will be listed at London and Singapore. NTPC runs much of the tendering programme for the country's National Solar Mission (NSM).

Just last week, Indian mortgage lender HDFC also raised INR30 billion through issuing a Masala Bond.

In February, PV Tech spoke to Rajnesh Trivedi, Senior director, sustainable investment banking at Yes Bank India, on how green bonds can benefit India’s solar market.

21 March 2024
This special webinar will look at one of the most important changes impacting PV manufacturing today; how to establish and sustain new facilities around the world. For more than two decades, policy-makers have grappled with the challenges of nurturing domestic manufacturing sectors. Many countries have tried to create domestic sectors: Japan, Taiwan, South Korea, India, Europe and the U.S. But success stories have been rare. Mistakes seem to be repeated. And all the while, Chinese dominance of the industry has only increased. However, in the past 2-3 years, new drivers have emerged that suggest the dream of a global PV manufacturing ecosystem could be a reality. Join us as we shed light on this.
21 May 2024
Understanding the PV module supply to the U.S. market in 2024 & 2025. The conference gathers together developers, independent power producers and module suppliers to the U.S. solar market as well as EPCs, banks, investors, technical advisory and testing & certification specialists.
8 October 2024
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 28, 2024
Seattle, USA
Solar Media Events, Industry Events
March 12, 2024
Frankfurt, Germany
Upcoming Webinars
March 13, 2024
9am EDT / 1pm GMT / 2pm CET
Solar Media Events
March 19, 2024
Texas, USA