May 17, 2020

First Solar Awarded Largest Loan Guarantee Program

First Solar
Renewable Energy
Solar Energy
solar power
Admin
2 min
First Solar Awarded Largest Loan Guarantee Program.jpg
First Solar has recently received some major funding from the US Government. The US Department of Energy announced on Thursday three loan guarantee off...

First Solar has recently received some major funding from the US Government. The US Department of Energy announced on Thursday three loan guarantee offerings, totaling about $3.73 billion for First Solar’s three photovoltaic power plants in California. These three loans make First Solar the largest solar beneficiary of a federal renewable energy loan guarantee program.

Recently, First Solar has devoted a great deal of time and money to becoming a solar farm developer. This company is said to receive a guarantee for a $680 million loan for the 230 MW Antelope Valley Solar Ranch 1 project, partial guarantees for $1.88 billion in loans for the 550 MW Desert Sunlight project and partial guarantees for $1.93 billion in loans for the 550 MW Topaz Solar project. Electricity from these projects will go to utilities Pacific Gas and Electric Co and Southern California Edison, says Gigaom.

Ted Meyer, vice president of corporate communications at First Solar, says the $680 million loan guarantee for Antelope Valley Solar will translate into a loan of the same amount from the Treasury-run Federal Financing Bank, says Gigaom. First Solar will be using its cadmium-telluride solar panels for all of the solar farms and it will also be overseeing their construction.

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These three loan guarantees are a huge step forward for First Solar who is now proud to be the biggest recipient of the loan guarantee program. This loan guarantee program was created by Congress through the 2009 stimulus package in an effort to boost job creation and clean power generation. So far, the program has offered more than $16 billion guarantees for 15 solar power generation projects. For example, just last week the DOE announced a guarantee for up to $1.12 billion for the country’s largest rooftop solar project.

 

 

 

 

 

 

 

 

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Aug 3, 2021

Swire Energy buys ALL NRG, Vestas wins Australia wind order

SwireEnergyServices
Vestas
Energy
windenergy
Dominic Ellis
3 min
Swire Energy Services' acquisition of ALL NRG marks its second wind-focused deal this year, as Vestas secures 58MW order for wind project in Australia

Swire Energy Services (SES) has bought Danish wind services provider ALL NRG for an undisclosed fee, with SES becoming sole owner of ALL NRG  wind and solar division. 

The company currently operates across wind markets in Europe and Asia. ALL NRG was established in 2014 by Nordic private equity firm, Via Equity, by the acquisition of four prominent energy-related companies: APRO Wind, VB Enterprise A/S, Q-Star Energy A/S and WTG Partners A/S.  

Manfred Vonlanthen, CEO of Swire Energy Services, said: “This acquisition, alongside the investment of BladeInsight in June of this year, positions Swire Energy Services firmly within the wind industry. ALL NRG has an impressive track record and is a trusted service provider, with access to over 600 highly qualified technicians. 

“With this competence, in combination with our global reach and our long-term experience operating safely in the offshore environment, we will be able to service OEMs, operators, and owners with a full spectrum of specialist services for wind projects globally. We welcome Michael Thatt and his team and look forward to developing our service offering together in line with our strategic vision for wind services within SES.” 

Via Equity is happy to see the ALL NRG services continuing under new ownership and we are certain SES will have great opportunities to excel in the very promising market for wind and solar, added Peter Thorlund Haahr, partner at Via Equity. 

This is the second wind focused acquisition for Swire Energy Services this year, and forms part of the company’s long-term strategic objective to grow its renewable energy sector offering to support customers through the energy transition.  

ALL NRG will be rebranded Swire Energy Services, which will roll out across the organisation from August 3. 

Vestas wins 58 MW wind project order in Australia

In partnership with Global Power Generation, a subsidiary of the multinational power company Naturgy Group, Vestas has secured a 58MW deal for Crookwell 3 Wind Farm in New South Wales, Australia. The project will feature 16 V126-3.45 MW wind turbines in 3.6 MW operating mode which Vestas will supply and install.

Upon completion, Vestas will also deliver a 15-year Active Output Management 5000 (AOM 5000) service agreement. This agreement will optimise energy production while also providing long-term business case certainty.

“As the largest installer and maintainer of wind turbines, both globally and nationally, we are pleased that customers like Global Power Generation (Naturgy Group) continue to choose our leading technology, market experience and broad service solutions”, said Purvin Patel, President of Vestas Asia Pacific.

“Global Power Generation (Naturgy Group) is a globally valued customer to Vestas”, said Peter Cowling, Head of Vestas Australia and New Zealand. “We look forward to championing their ambitious vision of sustainability in Australia through the successful delivery of Crookwell 3 Wind Farm, and our remaining projects which are currently in progress. 

Once again, Global Power Generation is very pleased to partner with Vestas as OEM and long-term maintenance provider for Crookwell 3 Wind Farm, added Pedro Serrano, Chief Business Development Officer, Global Power Generation (Naturgy Group). Delivery of the wind turbines is expected to occur in the second quarter of 2022, with commissioning to commence in Q4 2022.

Last month leading CEOs from the global wind industry united to call on G20 members to show leadership in the climate crisis by raising national ambitions and urgently laying out concrete plans for increased wind energy production to replace fossil fuels (click here).

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