Origis Energy has closed a $344 million construction financing facility and conversion to term loan with MUFG for its Golden Triangle I energy storage project in Lowndes County, Miss.
Golden Triangle I, with 200 MW solar capacity co-located with 200 MWh of energy storage, is one of three Origis renewable projects under construction in the state. Together, they represent the largest solar plus battery energy storage deployments in Mississippi to date, says Origis.
Origis announced construction of the three projects, Golden Triangle I, Golden Triangle II and Optimist, earlier this year. With a total capacity of 550 MW solar plus 600 MWh of battery energy storage, the projects will deliver energy at competitive rates under PPAs executed between Origis Energy and the Tennessee Valley Authority (TVA).
Golden Triangle I is supported during construction and long-term operation with this loan facility. After construction completion, the financing will be converted to a long-term instrument covering the expected 25-year minimum operational life of the project. The loan facility structure also leverages the transferability provision of the Inflation Reduction Act prior to commitments for tax equity financing.
“The MUFG team has been outstanding. They have worked with us to uncover innovative ways to leverage the IRA provisions and ensure the Golden Triangle I project delivers for TVA and its customers as promised,” says Vikas Anand, COO and CFO of Origis Energy.
“Golden Triangle I will power the equivalent of 57,000 homes, deliver grid resiliency and avoid 291,000 metric tons of CO2 each year. These attributes are in addition to the economic benefits the project and portfolio will deliver in the region. We thank MUFG for their support and look forward to delivering the project for TVA.”
The post MUFG to Fund Origis $344 Million for Golden Triangle I Construction appeared first on Solar Industry.
MUFG to Fund Origis $344 Million for Golden Triangle I Construction
Weather Guard Lightning Tech
CIP Offshore in Taiwan, RWE Buys GE Vernova for Texas
CIP achieves financial closure for an offshore wind project in Taiwan and the UK may shift towards a domestic offshore wind supply chain. GE Vernova plans to equip two RWE farms in Texas, and Masdar will potentially acquire TotalEnergies’ renewable assets in Portugal. Register for the start of our webinar series with SkySpecs!
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Allen Hall: Starting off the week, Copenhagen Infrastructure Partners has secured financial close on the 495 megawatt Fengmiao offshore wind project off Taiwan’s Coast. This Marks CIP’s third offshore wind project in Taiwan and is the first of Taiwan’s round three projects to start construction.
The project secured approximately $3.1 billion in financing from 27 banks with debt partially guaranteed by export credit agencies. Now Vestas will supply 33 of its latest 15 megawatt turbines for the projects and construction will finish by late 2027 with six corporate customers already signed for long-term power purchase agreements covering its entire capacity. Dan McGrail Interim, CEO of Britain’s new state owned GB Energy believes the UK should challenge oversee renewable energy companies by exporting its expertise globally. McGrail sees floating offshore wind as a huge opportunity for British technology leveraging existing supply chains from the oil and gas industry.
He aims to shift focus from importing parts to building them domestically, which could create an export industry over time. GE Vernova will equip two RWE farms in Texas with over 100 turbines with deliveries beginning later this year. The projects will help RWE surpass one gigawatt of rebuilt and repowered wind capacity across the US and generate enough electricity to power approximately 85,000 Texas homes and businesses annually. Boosting US content. Then the sales for the project will be manufactured at GE Vernova’s Florida facility, which employs about 20% Veterans.
RWE’s Chief Operating Officer emphasized their commitment to American energy production and strengthening domestic manufacturing and supply chains. GE Vernova’s Entre Wind Division currently has a total installed base of 56,000 turbines worldwide with nearly 120 gigawatts of installed capacity.
Abu Dhabi’s Masdar is considering acquiring a stake and total energy’s Portuguese renewable energy assets. The deal will likely be through SATA yield. The Green Energy Company masar purchased from Brookfield last year. This would add to MAs dollar’s growing European portfolio, which includes recent acquisitions in Spain and Greece as the company works towards its global target of 100 gigawatts by 2030.
Total Energy is currently has about 600 megawatts of installed renewable capacity in Portugal, mostly higher valued wind power assets. Total energy. CEO previously mentioned plans to divest around two gigawatts annually as part of portfolio consolidation. And that wraps up our wind industry headlines from Monday, March 24th. The conversation continues tomorrow on the Uptime Wind Energy Podcast, where we’ll explore even more insights shaping the future of renewable energy.
And don’t forget to join our exclusive live webinar this Wednesday featuring Sky Specs New CEO Dave Roberts. He’ll be sharing his roadmap for the company’s exciting future. All access details are awaiting for you in the show notes.
https://weatherguardwind.com/cip-taiwan-rwe-ge-vernova/
Almost all Americans respect and admire Canada and the kind, intelligent, and respectful people who make their homes there. Accordingly, we are appalled at our country’s decision to attack one of our oldest and finest friends.
In addition, as shown at left, there is a certain fraction of us who are losing our livelihoods due to our president’s rash insanity. We all need to feel a particular sympathy for them.
Answer to the question posed at left:
A plurality of American voters elected a man with terrible values, and now our nation is realizing that the toothpaste can’t go back into the tube.
Worse, while the president’s power is theoretically limited by the Constitution, those limits are vague and extremely difficult to enforce by Congress and the Judiciary.
The Founding Fathers clearly never dreamed that the electorate would choose a criminal sociopath as the country’s (and world’s) most powerful person.
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