Apex Clean Energy acquires 442.5 mw of solar projects from SolUnesco
Apex Clean Energy today announced the purchase of 442.5 MW of solar projects across Virginia from renewable energy developer SolUnesco. This acquisition expands Apex’s nationwide portfolio of advanced solar projects to more than 3 GW, approximately 700 MW of that situated in the Commonwealth.
An established national leader in the wind and solar sector with increasing focus on energy storage solutions, Apex is focusing on its home state as an ideal location to provide “around-the-clock” clean energy to utility, corporate, and industrial power customers. With the 75 MW Rocky Forge Wind and 80 MW Dragonfly Solar having already secured unanimous county permit approvals, Apex is uniquely positioned to supply virtually constant zero-carbon electricity at scale.
Mark Goodwin, Apex Clean Energy president and CEO said: “Apex continuously seeks to grow our utility-scale wind and solar pipeline based on projects with the greatest potential to meet rapidly expanding market demand. The projects recently acquired from SolUnesco are expertly sited, have strong landowner support, and offer substantial environmental and economic benefits. We look forward to bringing these projects online, enabling significant job creation and new revenue streams in communities across the Commonwealth of Virginia.”
The SolUnesco transaction includes the 150 MW Carvers Creek, 150 MW Moody Creek, 130 MW Red Brick, and 12.5 MW Rivanna projects located across the Commonwealth.
Together, the four projects will generate enough clean electricity to power approximately 72,000 U.S. homes and would contribute over $11 million in state and local tax revenue.
Francis Hodsoll, SolUnesco CEO said: “ “This partnership provides key capabilities and resources to best position these four projects. We believe the Apex relationship will advance the growth of SolUnesco’s capabilities and market position.”
Drax advances biomass strategy with Pinnacle acquisition
The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.
The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).
This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.
In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.
The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.