Pine Gate Renewables develops 108 MW Trent River solar project in Pollocksville
Pine Gate Renewables leads the development of the 108 MW Trent River solar project located in the US. Expected to go online in the third quarter of 2021, the 20-year power purchase agreement is one of the first awarded under Duke Energy’s Competitive Procurement of Renewable Energy (CPRE) program. Pine Gate Renewables develop the project with Silver Pine Energy Holdings as part of their recent joint venture partnership.
Based on the project’s expected annual energy production and the Solar Energy Industries Association's data for the average annual energy consumption of North Carolina homes, Trent River could provide enough energy for approximately 15,000 homes in its first year of operation alone.
CIT Group Inc. serves as lead arranger on US$126 million financing for the project.
Country updates
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July 16, 2020
CIP arranges tax equity financing for its 255 MW solar plant in USA
An affiliate of Copenhagen Infrastructure Partners P/S has entered into a tax equity financing arrangement with Bank of America for a utility-scale solar project in Texas, US.
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July 16, 2020
Innergex buys 138 MW Mountain Air wind portfolio in Elmore County
Innergex Renewable Energy Inc. has acquired all the Class B shares of a portfolio of six operating wind farms in Elmore County, Idaho, in the United States for a purchase price of US$56.8 million from...
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July 15, 2020
BlackRock raises interest in SolarEdge Technologies to 10.3%
US investment management company BlackRock Inc has further increased its interest in the Israeli solar energy technology company SolarEdge Technologies Inc. after it has acquired additional stake...
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July 14, 2020
Ørsted acquires 227 MW solar project in USA
Ørsted has acquired Longroad Energy's 227 MWac under construction Muscle Shoals solar project located in Colbert County, Alabama, in the US. Concurrent to the acquisition, Ørsted enters...
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July 13, 2020
Engie sells 49% stake in 2.3 GW of renewables in the USA
ENGIE has signed an agreement to sell 49% equity interest in a 2.3 GW US renewables portfolio to Hannon Armstrong, a leading investor in climate change solutions. ENGIE will retain a controlling share...
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