Apr 20, 2021

Amazon's renewable energy projects surpass 200 milestone

Amazon
Renewables
Solar
Netzero
Dominic Ellis
2 min
Nine new projects announced today takes Amazon's renewables portfolio beyond 200 projects

Amazon claims it is now Europe's largest corporate buyer of renewable energy as its projects surpassed 200 globally.

Broken down, it has 136 solar rooftops on facilities and stores and 71 utility-scale wind and solar projects, nine of which were announced today covering the US, Canada, Spain, Sweden and UK. They include:

First solar project paired with energy storage Based in California’s Imperial Valley, Amazon’s first solar project paired with energy storage allows the company to align solar generation with the greatest demand. The project generates 100MW of solar energy, and includes 70MW storage.

First renewable project in Canada An 80 MW solar project in the County of Newell in Alberta. Once complete, it will produce over 195,000MWh of renewable energy to the grid.

Largest corporate renewable energy project in the UK Amazon’s newest project in the UK is a 350MW wind farm off the coast of Scotland and is Amazon’s largest in the country. It is also the largest corporate renewable energy deal announced by any company in the UK to date.

New projects in the US Amazon’s first renewable energy project in Oklahoma is a 118 MW wind project located in Murray County. Amazon is also building new solar projects in Ohio’s Allen, Auglaize, and Licking counties. Together, these Ohio projects will account for more than 400MW of new energy procurement in the state.

Additional investments in Spain and Sweden In Spain, Amazon’s newest solar projects are located in Extremadura and Andalucia, and together add more than 170 MW to the grid. Amazon’s newest project in Sweden is a 258 MW onshore wind project located in Northern Sweden.

It now has more than 2.5 GW of renewable energy capacity, enough to power more than two million European homes a year, and aims to power all its activities with renewables by 2025 and net zero by 2040.

Amazon and Global Optimism co-founded The Climate Pledge in 2019, a commit ment to reach the Paris Agreement 10 years early and be net-zero carbon by 2040. The pledge now has 53 signatories, including IBM, Unilever, Verizon, Siemens, Microsoft, and Best Buy.

A map of all of Amazon’s renewable energy projects around the world can be found here.

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Jun 2, 2021

bp buys 9GW of solar projects from 7X Energy for $220m

bp
USA
Solar
Dominic Ellis
2 min
bp steps up its solar renewables profile with $220 million purchase of 7X Energy sites across 12 US states

bp is to buy 9GW of solar development projects in the US from independent solar developer 7X Energy.

bp will pay 7X Energy $220 million for the projects and 1GW of 'safe harbour' equipment and expects the acquisition to complete in 30 days. The projects, spread across 12 states - with the largest portfolios in Texas (ERCOT) and MidWest (PJM) - are expected to meet bp’s low carbon investment criteria, generating returns of at least 8-10%.

Assets with a combined generating capacity of 2.2GW are expected to reach final investment decision (FID) by 2025, with the remaining progressing by 2030. Once developed, these projects will have the capacity to generate enough clean energy to power around 1.7 million US homes. The development is also expected to support thousands of jobs through construction.

The acquisition represents a significant step towards bp’s target of growing its net developed renewable generating capacity to 20GW by 2025 and aim to increase this to 50GW by 2030.

The deal will also grow bp’s renewables pipeline from 14GW to 23GW. The assets will be developed through bp’s 50-50 solar joint venture Lightsource bp, which will apply its capabilities to accelerate bp’s renewables targets.

Dev Sanyal, bp executive vice president of gas and low carbon energy, said: "With this purchase, we are continuing to put our strategy in action as we grow our renewables business in a deliberate and disciplined way. It brings us 9GW of high-quality solar projects in markets where we can create integrated renewable energy offers through our trading and customer franchises."

More than half of new US utility-scale solar PV capacity is planned for four states this year, with Texas comfortably the largest (28%), followed by Nevada (9%), California (9%), and North Carolina (7%), according to the US Energy Information Administration. Solar will account for 39% of all new US electricity generation capacity in 2021, surpassing wind for the first time, according to ResearchAndMarkets.com.

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