Published

2 years ago

November 5, 2023

Alice Rush

Weather Guard Lightning Tech

News Flash: Major Financing Deals and Acquisitions Highlight Growth and Consolidation in U.S. Wind Industry

This news flash covers major renewable energy project financing deals and acquisitions in the wind industry. Key points include Avangrid and Copenhagen Infrastructure Partners securing $1.2 billion in tax equity financing from major banks for the Vineyard Wind One offshore wind project. Energex Renewable Energy also secured $322 million in tax equity financing from J.P. Morgan and Capital One for its Boswell Springs wind farm. The deals allow the companies to receive significant cash upfront in exchange for future production tax credits. In mergers and acquisitions, Scotland-based Aurora Energy Services acquired Houston-based Cotech Group, a wind turbine blade maintenance company, to expand its service offerings and workforce in the U.S. The deals highlight the activity in renewable project financing and consolidation in the wind energy services sector.

Sign up now for Uptime Tech News, our weekly email update on all things wind technology. This episode is sponsored by Weather Guard Lightning Tech. Learn more about Weather Guard’s StrikeTape Wind Turbine LPS retrofit. Follow the show on Facebook, YouTube, Twitter, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary Barnes’ YouTube channel here. Have a question we can answer on the show? Email us!

Pardalote Consulting – https://www.pardaloteconsulting.com
Weather Guard Lightning Tech – www.weatherguardwind.com
Intelstor – https://www.intelstor.com

News Flash 103023

Allen Hall: I’m Allen Hall, president of Weather Guard Lightning Tech, and I’m here with the founder and CEO of Intelstor, Phil Totaro, and the chief commercial officer of Weather Guard Lightning Tech, Joel Saxum. And this is your News Flash. News Flash is brought to you by our friends at InterStor. If you need actionable information about renewable projects or technologies, check out InterStor at intelstor.com.

Copenhagen Infrastructure Partners and Avangrid announced the largest single asset tax equity financing and first large scale offshore wind transaction in the United States for Vineyard Wind One’ s project. The 1.2 billion tax equity investment was reached with JPMorgan, Chase, Bank of America, and of course, Wells Fargo.

Alright, Phil. There’s a lot of tax equity investment happening right now in wind. What does it mean?

Phil Totaro: Effectively, they are taking some cash, if not all of it, up front. In exchange for future production, tax, credit, revenue, and allowing the financiers to basically do that at a rate with an interest rate on top of it. So that, if they’re giving CIP and Avangrid, 1.2 billion in cash now, presumably they’re gonna be generating at least, 1.8 to 2 billion in PTC revenue in the future. And so the financial institutions collect that future revenue on kind of a, an annuity basis. And the developer gets cash up front to either reinvest in Greenfield project development or to bolster their balance sheet.

Allen Hall: Canadian electricity producer, Energex Renewable Energy has secured a 322 million dollar tax equity investment for its 329 megawatt Boswell Springs wind project that is under construction in Wyoming. The upfront tax commitment was made by J. P. Morgan and Capital One, Energex said last week. The arrangement will see the investors provide cash payments as production tax credits are generated from the project over 10 years.

Joel, it looks like they’re going to receive about 420 million in a production tax credit over those 10 years, and they’re taking in from the banks about 322 million now. How are they playing this swap of tax security? In the future for income now.

Joel Saxum: So what this is the 330 megawatt Boswell Springs project is going to cost about 583 million to build. Instead of having 583 million at say 7 percent over the course of however long that debt takes to pay off, instead of having that debt financing, they’ve exchanged some of that debt financing for tax equity financing, but at a different rate. Energex will receive about 70 percent of the PTC income that they normally would have received. And that other 30 percent will actually go to the financers. That would be J. P. Morgan and Capital One. The large thing here is, as well, is when companies are going for these massive amounts of capital to build these projects, the banks are coming back to them and saying, we’ll give you this money, but as collateral, we’re gonna need 30 percent of your PTC funds for the future.

Phil Totaro: And keep in mind why this is happening now is, it’s a combination of high interest rates are really driving this but also this trend is in particular for onshore wind is going to be driven by what we analyzed last year. And what we’re actually going to be releasing next week is an update to our analysis about the payback timeframe for projects.

Projects which started in 2020 had an average payback period of up to about 20 years. As a result of the IRA bill driving up the production tax credit value, a lot of companies independent power producers, project developers signed power purchase contracts that were actually for less than the production tax credit value of $26 a megawatt hour or thereabouts.

For those projects, particularly anybody that’s got a power purchase contract below $20 MWh, their asset payback time frame is at least, 15 to 20 plus years. What Energex is doing with this is they’re allowing this to shorten the time frame for a full return on capital the shortened the timeframe that it’s going to take to actually pay down the entirety of the amount spent the 583 million to actually build this project in the first place. As Joel mentioned, this is a probably a clever scheme ginned up by some accountants, but it’s an important tool in the toolbox now that we have this kind of high interest rate environment and companies are going to be able to leverage their future PTC revenue as a a way to, to offset some of the upfront capex cost.

Allen Hall: Aurora Energy Services, a Scotland based company, has acquired Houston based Cotech Group in its first international acquisition. Cotech provides wind turbine blade repair and maintenance services in the U. S. and was founded in 2005. This is Aurora’s fourth acquisition since launching. The deal increases Aurora’s employees to about 275.

Aurora expects Cotech’s 100 strong workforce to triple over the next, to about 300 over the next three years. Joel, this is a big move in the United States because there’s a lot of acquisitions and movement in the ISP world.

Joel Saxum: Yeah, absolutely. So you’re seeing some of the larger players starting to grab companies based on, hey, we need people.

Well, Cotech, one of the reasons why they’re very attractive to anybody investing in that space is the simple fact that they’ve got operations in Brazil and in the U. S. If you know anything about revenue generation in the U. S. and the Blade world, There’s a large shoulder season. So depending on where you are in the Northern latitudes, it’s worse.

Southern latitudes, it’s still not that good, but even say an average in the country, blade season starts mid April and ends mid October, end of October. And it’s simply because that’s when you can use chemicals and then the winter, you get better peak wind season. So you have this curve where a lot of revenue and a lot of people are needed in the summertime, but then it falls off in the winter.

Well, Cotech to fight that and to be more attractive to any investor. They also have these massive operations in Brazil, so they can move people back and forth and even if they don’t move their whole workforce back and forth between Latin America and the U. S., they still have a fairly flat revenue line.

So Aurora’s aiming to be a hundred million pound revenue energy service businesses within five years, so they’re well on their way. So what this means for Aurora Energy Services clients is that they now have a single company that is more of a one stop shop. We’ve talked about this in the past. We’ve heard, we were just up in Calgary at CANREA and the people on the floor talking about that it’s a pain when you have to bring in 15 different subcontractors to a site to get things done. What Aurora has done here is now they have their inspection maintenance repair services, their actual rope access services, lifting and inspection engineering fabrication and site services, and just general project services for wind now is one suite where clients can take advantage of that.

News Flash: Major Financing Deals and Acquisitions Highlight Growth and Consolidation in U.S. Wind Industry

Renewable Energy

North Sea Summit Commits to 100 GW Offshore Wind

Published

1 day ago

January 26, 2026

Alice Rush

Weather Guard Lightning Tech

North Sea Summit Commits to 100 GW Offshore Wind

Allen covers Equinor’s Hywind Tampen floating wind farm achieving an impressive 51.6% capacity factor in 2025. Plus nine nations commit to 100 GW of offshore wind at the North Sea Summit, Dominion Energy installs its first turbine tower off Virginia, Hawaii renews the Kaheawa Wind Farm lease for 25 years, and India improves its repowering policies.

Sign up now for Uptime Tech News, our weekly newsletter on all things wind technology. This episode is sponsored by Weather Guard Lightning Tech. Learn more about Weather Guard’s StrikeTape Wind Turbine LPS retrofit. Follow the show on YouTube, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary’s “Engineering with Rosie” YouTube channel here. Have a question we can answer on the show? Email us!

There’s a remarkable sight in the North Sea right now. Eleven wind turbines, each one floating on water like enormous ships, generating electricity in some of the roughest seas on Earth.

Norwegian oil giant Equinor operates the Hywind Tampen floating wind farm, and the results from twenty twenty-five are nothing short of extraordinary. These floating giants achieved a capacity factor of fifty-one point six percent throughout the entire year. That means they produced power more than half the time, every single day, despite ocean storms and harsh conditions.

The numbers tell the story. Four hundred twelve gigawatt hours of electricity, enough to power seventeen thousand homes. And perhaps most importantly, the wind farm reduced carbon emissions by more than two hundred thousand tons from nearby oil and gas fields.

Production manager Arild Lithun said he was especially pleased that they achieved these results without any damage or incidents. Not a single one.

But Norway’s success is just one chapter in a much larger story unfolding across the North Sea.

Last week, nine countries gathered in Hamburg, Germany for the North Sea Summit. Belgium, Denmark, France, Britain, Ireland, Luxembourg, the Netherlands, Norway, and their host Germany came together with a shared purpose. They committed to building one hundred gigawatts of collaborative offshore wind projects and pledged to protect their energy infrastructure from sabotage by sharing security data and conducting stress tests on wind turbine components.

Andrew Mitchell, Britain’s ambassador to Germany, explained why this matters now more than ever. Recent geopolitical events, particularly Russia’s weaponization of energy supplies during the Ukraine invasion, have sharpened rather than weakened the case for offshore wind. He said expanding offshore wind enhances long-term security while reducing exposure to volatile global fossil fuel markets.

Mitchell added something that resonates across the entire industry. The more offshore wind capacity these countries build, the more often clean power sets wholesale electricity prices instead of natural gas. The result is lower bills, greater security, and long-term economic stability.

Now let’s cross the Atlantic to Virginia Beach, where Dominion Energy reached a major milestone last week. They installed the first turbine tower at their massive offshore wind farm. It’s the first of one hundred seventy-six turbines that will stand twenty-seven miles off the Virginia coast.

The eleven point two billion dollar project is already seventy percent complete and will generate two hundred ten million dollars in annual economic output.

Meanwhile, halfway across the Pacific Ocean, Hawaii is doubling down on wind energy. The state just renewed the lease for the Kaheawa Wind Farm on Maui for another twenty-five years. Those twenty turbines have been generating electricity for two decades, powering seventeen thousand island homes each year. The new lease requires the operator to pay three hundred thousand dollars annually or three point five percent of gross revenue, whichever is higher. And here’s something smart: the state is requiring a thirty-three million dollar bond to ensure taxpayers never get stuck with the bill for removing those turbines when they’re finally decommissioned.

Even India is accelerating its wind energy development. The Indian Wind Power Association welcomed major amendments to Tamil Nadu’s Repowering Policy last week. The Indian Wind Power Association thanked the government for addressing critical industry concerns. The changes make it significantly easier and cheaper to replace aging turbines with modern, more efficient ones.

So from floating turbines in the North Sea to coastal giants off Virginia, from island power in Hawaii to policy improvements in India, the wind energy revolution is gaining momentum around the world.

And that’s the state of the wind industry for the 26th of January 2026.

Join us tomorrow for the Uptime Wind Industry Podcast.

North Sea Summit Commits to 100 GW Offshore Wind

Renewable Energy

God’s Proud of Trump?

Published

3 days ago

January 24, 2026

Alice Rush

Based on the polls, we can see that most of the American people have a seething hatred of Trump, but at least God thinks he’s done a good job.

God’s Proud of Trump?

Renewable Energy

Maximise Government Rebates for Commercial Solar in 2026

Published

4 days ago

January 23, 2026

Alice Rush

If you live in Australia, you might have heard the rumours that commercial solar rebates are being phased out.

Just got thinking if your business has missed its chance to cash in on government support?

Hold on! Let’s set the record straight: the government rebates and incentives are still active, and in 2026, they’re more strategic than ever.

Australia remains a global leader in rooftop solar, but the rules of the game have evolved. It’s no longer just about covering your roof with solar panels and exporting cheap power to the grid.

In 2026, the smart move is pairing commercial solar with battery storage, demand management, and tax planning to maximise savings and control when and how your business uses energy.

From small cafes and warehouses to large manufacturing facilities and corporate headquarters, businesses of all sizes can still unlock substantial rebates, tax incentives, and funding opportunities.

The main goal is to understand how the current program works and how to stack them correctly before the rebates end.

Therefore, this guide breaks down how to maximise government rebates for commercial solar in 2026 in Australia, so you can slash power bills, boost energy independence, and make every incentive dollar count.

Let’s dive in!

In this blog post:

Understand the Federal Government’s Core Incentive Options

At the national level, Australia’s federal government continues to support commercial solar through several key programs. The rebate program includes:

Small-scale Renewable Energy Scheme (SRES)

This is one of the most popular commercial solar rebates across Australia. Under the SRES, eligible solar systems that are up to 100 kW generate Small-scale Technology Certificates.

These certificates are tradable and provide upfront discounts when you install solar. Your installer usually handles the paperwork, and the value is passed as a discount during installation.

Why does this matter for business owners?

STCs can directly reduce your upfront costs by tens of thousands, making solar a much more affordable long-term investment. This might sound exciting to many. But act sooner rather than later.

Why?

Because the value of STCs gradually decreases as we approach the RET (Renewable Energy Target) end date in 2030.

So, planning a 2026 installation can secure more certificates at higher values.

Large-scale Generation Certificates (LGCs)

For bigger commercial solar systems above 100 kW, it’s a different story. These systems fall under the Large-scale Renewable Energy Target and generate LGCs based on the electricity they produce each year.

These certificates are sold in the market, generating ongoing revenue, not just an upfront discount.

Why are LGCs a great option?

Provide cash flow over many years.
Can often outweigh STC savings for larger systems.

If your roof can support a system over 100 kW, you can easily scale up to access LGCs and create an annual income stream rather than just an upfront rebate.

New Federal Battery Rebate

From mid-2025, the federal government introduced battery rebates under the SRES framework, which continue into 2026.

In this battery home program, systems paired with solar can receive rebates for each usable kWh of storage installed up to 50 kWh.

This helps to:

Reduces battery cost by approximately 30%.
Enhances the value of your solar by allowing you to use more of the energy you generate rather than exporting it at a discount.

Pair solar with batteries wherever profitable. Solar alone saves you money, but paired with batteries, your business becomes more resilient and less exposed to low grid pricing.

How Can You Stack State & Territory Rebates and Grants?

Federal incentives are powerful, but stacking them with state-level rebates and grants can multiply savings.

Here’s what’s active or expected to continue in 2026:

New South Wales (NSW)

NSW supports commercial solar and batteries with:

STC rebates on solar.
Reset Peak Demand Reduction Scheme (PDRS) rebates for batteries. $1,600–$2,400 in addition to bonuses for VPP participation.

Here’s a pro tip! If you add a VPP-ready battery to existing or new solar installations, you can claim both state and federal rebates.

Victoria

Victoria continues its Solar for Business initiatives with:

Rebates for smaller commercial systems.
Interest-free loans and technical support.
Extra funding to encourage SME solar adoption.

You can pair your Victorian rebate with federal STCs and depreciation allowances for the best stack.

Queensland

Queensland has regional programs such as:

Energy audits for businesses.
Co-contribution grants.
Targeted agricultural support to reduce daytime energy costs.

Regional businesses often qualify for multiple small grants, so schedule an audit early in your planning to identify all available incentives.

Turn Australian Tax Deductions into Business Advantage: Here’s How!

Government support isn’t just limited to rebates; tax incentives can be just as valuable.

Instant Asset Write-Off & Temporary Full Expensing

Businesses installing solar can often write off the full cost of the system in the year it is installed, resulting in significant reductions in taxable income. This also:

Improves cash flow in the year of investment.
Can stack with rebates.

Before installing, consult your solar installer to ensure you’re claiming the maximum allowable deduction and that the structure aligns with your business’s tax year.

Standard Depreciation

Even if you don’t qualify for instant write-offs, solar is still a depreciating asset. You can claim deductions over its useful life, typically 20+ years, blending your return through ongoing tax savings.

Let’s Explore Strategic Funding & Innovative Financing Methods

You don’t have to own the system outright to enjoy the benefit:

Environmental Upgrade Agreements (EUAs)

There are councils, such as Environmental Upgrade Agreements (EUAs), that link loans to your property, allowing you to finance energy upgrades through your rates rather than traditional debt, often at better rates and longer terms.

In this method, solar starts saving money immediately, and a new cash-flow strategy makes solar accessible even without large upfront capital.

Power Purchase Agreements (PPAs)

With a PPA, a third party installs and owns the solar system, and you buy the energy at a reduced rate for 7–15 years.

What are the benefits:

Zero upfront cost.
Consistent electricity pricing.
Reduced risk.

A PPA may not generate STCs for you, but it can reduce out-of-pocket costs and be more financially advantageous for smaller businesses or those with constrained budgets.

Plan Your Install with Timing & Market Awareness

If you plan to install solar on your commercial property, timing is very crucial. The reason is simple and straightforward.

The rebate values decline over time. The SRES scheme reduces the number of certificates annually as 2030 approaches.
The battery rebates also step down periodically.

Therefore, all you need to do is book an appointment early, obtain free quotes, sign contracts, and schedule installations early in the financial year to secure the highest possible rebate.

How To Qualify for Maximum Returns?

In Australia, if you want to qualify for federal incentives, you must follow these two rules:

Panels and inverters must be Clean Energy Council (CEC) approved.
Installer must be accredited (Solar Accreditation Australia or equivalent).

Be aware! Skipping an accredited installer or choosing low-quality equipment can disqualify you from getting rebates, so always verify credentials and approvals.

Financial Metrics That Matter: Cash Flow, ROI & Payback

Understanding your commercial solar project isn’t just about grabbing rebates; it’s about making them count. Here’s how to approach it:

Build a 10-Year Financial Model

Include:

Upfront costs before rebates
Rebate cash inflows (STCs, state grants, battery subsidies)
Tax deductions
Avoided electricity purchases
Revenue streams (LGCs for large systems)

Then calculate:

Payback period
Net Present Value (NPV)
Internal Rate of Return (IRR)

In most cases, businesses with high daytime usage see paybacks in 3–6 years, which is far better than traditional capital investments.

End Notes

Beyond rebates and tax savings, commercial solar boosts your business in ways that don’t show up on a spreadsheet instantly. It brings:

Brand credibility: Customers increasingly want sustainable partners.

Energy resilience: During peak grid pricing or outages, solar + battery keeps the lights on.

ESG leadership: If you report on environmental goals, solar is a visible, measurable contribution.

By 2026, Australia’s commercial solar incentives will still be robust, but navigating them takes strategy:

Do this first:

Understand federal incentives (STCs, LGCs, battery rebate)
Explore state rebates and stacking opportunities
Talk to your accountant about tax deductions
Get multiple quotes and install early in the year
Choose an accredited installer and products

And then:

Consider financing alternatives like EUAs or PPAs
Build a financial model before signing on the dotted line
Look beyond dollars to brand and operational resilience

Finally, the clean energy transition isn’t just an environmental choice; it’s a smart commercial move. With thoughtful planning and the right rebate stack, commercial solar in 2026 can be one of the most lucrative sustainability investments your business makes.

Ready to go solar?

Start with a trusted installer like Cyanergy, get a tailored quotation, and lock in every available rebate before they step down.