Renewable Energy Update - May 2015 #2

by Allen Matkins
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Renewable Energy Focus

Forecast sees largest growth for renewable energy sources

The Hill - May 11 Federal energy analysts are forecasting that renewable energy will see the largest growth in consumption of all energy sources, followed by nuclear power. The Energy Information Administration’s (EIA) International Energy Outlook, released Wednesday, predicted that energy consumption from renewables will grow an average of 2.6 percent a year through 2040. Nuclear power is the next biggest player in terms of growth, with an expected 2.3 percent annual increase by 2040, EIA head Adam Sieminski said at a Center for Strategic and International Studies event to roll out the report.

Non-hydro renewables bring 18% of California's 2015 power

SeeNews Renewables - May 11 Non-hydro renewables accounted for 18 percent of the total supply to the California Independent System Operator's grid in 2015, marking an increase of two percentage points from 2014. Solar power plants were the main reason for the increase. California added over 1.2 gigawatts of solar power capacity to the grid in 2015 and, for the first time ever, solar farms reached a bigger share in generation than wind.

Regulators approve Tucson Electric renewables plan

Arizona Daily Star - May 3 State regulators on Tuesday approved Tucson Electric Power Co.'s 2016 renewable-energy plan, minus some controversial proposals. The Arizona Corporation Commission approved a 2016 program budget of $56.6 million, including $9.4 million for company-owned renewable-energy projects and expansion of an energy-storage pilot project. TEP and other state-regulated power companies are under a state mandate to expand their use of renewable energy to 15 percent of their power sales by 2025.

Vivint Solar to take part in SunEdison's bankruptcy case

Reuters - May 10 Solar panel installer Vivint Solar Inc. said it would participate in SunEdison's bankruptcy case to maximize its recovery from claims against SunEdison, which terminated its agreement to buy Vivint in March. Vivint Solar has filed a lawsuit in Delaware against SunEdison alleging that the solar company willfully breached its obligations under their merger agreement and is seeking damages.

Engie buys 80% of California battery company to boost storage

Bloomberg - May 11 Engie SA bought a majority stake in a California-based battery installer, Green Charge Networks LLC, the first utility to dive into energy storage. Green Charge deploys batteries for commercial and industrial clients to lower their peak electricity demand, saving money. It has 48 megawatt-hours of projects across 150 sites.

Sky Solar Holdings acquires solar facilities in California and Massachusetts

PV Magazine - May 9 Sky Capital America Inc., the U.S. subsidiary of Sky Solar Holdings, Ltd., is acquiring 22 operating solar facilities in California and 1 operating solar facility in Massachusetts, amounting to a combined 22 megawatts, from Greenleaf-TNX and SunPeak Universal Holdings, Inc. The combined purchase price is $56.9 million, less the amount of existing financing on the facilities of approximately $21.7 million.

Solar project in New Mexico adds new state for Duke Energy Renewables

Charlotte Business Journal - May 10 Duke Energy Renewables has started construction of its proposed 25-megawatt Caprock Solar Project in Quay County, New Mexico. Power will be sold to Western Farmers Electric Cooperative under a 25-year power purchase agreement. It is Duke’s first solar project in New Mexico, and when completed, it will put Charlotte-based Duke at close to 430 megawatts worth of solar farms in seven states. Duke Renewables owns and operates about 2,100 megawatts worth of wind projects in addition to its solar operations. It expects to spend up to $1 billion this year on wind and solar projects.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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