Novatus Energy and Southwest Generation announce merger
US-based independent power producers Novatus Energy and Southwest Generation have merged to create Onward Energy.
The new entity will own 43 wind, solar, and natural gas generating projects across 16 states, and will be "ideally situated to help customers address the US energy market's transition to lower carbon".
"Combining these companies positions us to be a leader in the energy transition," said John Foster, CEO of Southwest Generation, who will serve as Executive Chairman of the merged entity. "With an array of zero-carbon renewable resources and flexible natural gas generation capabilities, the new company will be able to offer a full range of energy solutions to customers seeking reliable ways to reduce their carbon footprint."
Steve Doyon, CEO of Novatus Energy, said the energy transition calls not only for flexible resources, but skilled and experienced teams to ensure clean and reliable power for customers across the US "and backed by long term capital, Onward is ideally positioned to respond to those needs".
Onward will continue to provide services under Novatus Energy's and Southwest Generation's existing power purchase agreements with their respective counterparties, and looks forward to continuing existing relationships with our local communities. The integration was completed without any significant workforce disruption.
Headquartered in New York City, Novatus Energy was a North American privately-held renewable energy platform that currently owns interests in a 1.9 GW portfolio of operational wind and solar projects in the US, consisting of 10 wind projects (1,397 MW) and a portfolio of 25 solar PV projects (543 MWac).
Southwest Generation was a Denver-based independent power producer whose 8 natural gas power plants generate 2.3 gigawatts of flexible generation capacity across the US.
Renewable growth may accelerate in 2021 as the new administration starts to execute on a platform that includes rejoining the Paris Climate Accord, investing $2 trillion in clean energy, and fully decarbonizing the power sector by 2035 in order to achieve a larger goal of net-zero carbon emissions by 2050, according to Deloitte research.
The potential for increasing renewable energy demand, electrification of the transportation and industrial sectors and oil and gas companies’ plans to increase participation in the electricity value chain, are accelerating energy industry convergence, Deloitte adds. "These trends may foster collaboration that gives rise to new business models and helps advance the energy transition," it states.
Sungrow links Europe's largest energy storage plant to grid
Europe's largest energy storage project, the 100MW/100MWh Minety plant featuring Sungrow's 1500V energy storage system solutions, has been successfully connected to the UK grid.
The UK experienced the most debilitating blackout in nearly a decade in August 2019. The incident exposed the serious lack of frequency regulation of the national grid and demonstrated that the construction of energy storage projects that can regulate the frequency of the grid in a timely fashion should be prioritised. The Minety project, which began at the end of 2019, considerably mitigates the problem and is designed for facilitating grid stability and maximising renewable energy utilisation.
Sungrow supplied both NCM and LFP battery energy storage system solutions featuring high integration, which minimise the footprint, slash the commissioning duration and significantly reduce the system cost by 5%. The solution well meets the latest UK frequency regulation requirement called dynamic containment - requesting the plant to respond to the power instruction of the grid within 1 second, making the project one of the rare 30% of the UK's storage plants equipped with this function.
"We are proud of being part of this landmark project, offering solutions with extreme efficiency and safety while in compliance with the stringent UK grid codes," said James Wu, Vice President of Sungrow, which shipped more than 800MWh of energy storage systems in 2020.
Battery storage capacity in the UK is likely to heavily increase as move towards operating a zero-carbon energy system. At the end of 2019 the GB battery storage capacity was 0.88GWh. National Grid forecasts it could be as high as 2.30GWh in 2025.
Global energy storage updates
TEVOCS has announced the launch of a powerful series of universal portable power stations that provide reliable power for off-grid situations, travel, home backup and more. With an impressive 2080WH capacity and 2000W output, the TEVOCS power station is billed as 'the ultimate power station for modern life' and is available here.
Enlight Renewable Energy has completed the acquisition of 90.1% of the holdings in Clēnera LLC, a leading and seasoned company in the field of initiation, development, construction and operation of solar energy and energy storage projects in the United States.
Last month Canadian Solar Inc. was awarded the first utility-scale battery storage project in Colombia of 45 MW/45 MWh. The project was awarded in the public tender launched by Colombia's Ministry of Energy and Mines, via its affiliate UPME, the Mining and Energy Planning Unit.