| From: Eric | 3/14/2024 8:06:00 AM | | | | | | Australia’s biggest solar farm inks “significant” power purchase deal
New England solar farm. Photo: Acen Renewables
Sophie Vorrath
Mar 14, 2024
1
Renewables
Solar
The New England solar farm, which shares equal billing as the biggest operating solar project in Australia – for now – has locked in a new renewables supply contract, in a deal with commercial and industrial electricity retailer SmartestEnergy.
SmartestEnergy said on Thursday that the “significant long-term” power purchase agreement (PPA) will see it source electricity from the 400MW stage 1 of the New England solar farm to onsell to its customers.
The solar farm, being developed by Acen Australia near Uralla in New South Wales, stands to be the biggest operating solar plant in Australia when its full capacity of 720 MW across two stages is complete.
For the moment, however, it has only completed the first 400 MW stage and so has to share top billing with Neoen Australia’s Western Downs solar farm in Queensland.
The project reached peak output for the first time late last year and shares its location with more than 2,000 merino sheep, a number that is expected to triple over the course of this year.
Acen Australia managing director David Pollington says PPAs like that signed with SmartestEnergy are vital to bringing more renewables projects to life and supporting regional communities.
“Our New England Solar project is being built with the support of the Anaiwan First Nations people who have been a part of the project since the beginning,” Pollington said in a statement on Thursday.
“The relationship has evolved into a model that is providing meaningful opportunities for First Nations to participate in and share in the benefits that Australia’s growing renewable energy industry offers.
“Equally, this relationship has given ACEN Australia the opportunity to improve our knowledge and understanding of history, culture and achievements, working towards our shared commitment to contribute to reconciliation in Australia,” he said.
“ACEN’s approach sets a high standard, showcasing how involving local communities from the outset not only enriches renewable projects but also contributes to a more inclusive and prosperous net zero future for all,” said SmartestEenergy CEO Robert Owens in a statement on Thursday.
Acen is involved in a number of other projects around Australia, including the 420 MW Stubbo solar farm in NSW, the Wooroora Station Wind Farm in northern Queensland.
At full capacity, the 720 MW New England solar farm is expected to generate clean renewable energy to power around 300,000 average Australian homes.
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| From: Sam | 3/14/2024 10:16:04 AM | | | | | | Canadian Solar's Q4 Module Shipments Shine Despite Revenue Dip, Eyes Conservative Q1 Outlook
BENZINGA 9:34 AM ET 3/14/2024
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| CSIQ | 19.105 | -0.455 (-2.3262%) | | QUOTES AS OF 10:12:25 AM ET 03/14/2024 | Symbol Last Price Change
Canadian Solar Inc (CSIQ) reported a 14% year-on-year decline in fourth-quarter fiscal 2023 revenue to $1.70 billion, beating the consensus estimate of $1.69 billion.
The 8% sequential revenue decrease reflects a decline in module average selling price (“ASP”), a decline in solar module shipment volume, and lower project sales.
EPS loss was $(0.02), down from $0.32 last quarter and $1.11 in fourth-quarter 2022. The analyst consensus was $0.01.
Total module shipments reached 8.2 GW, up 26% Y/Y and down by 2% sequentially.
Gross profit decreased by 39% Y/Y to $213 million. The profit declined 31% sequentially.
The margin contracted by 420 basis points sequentially to 12.5%, caused by lower module ASPs and an inventory write-down.
Canadian Solar (CSIQ) generated $190 million in operating cash flow for the quarter versus $395.4 million last year. The company held $2.94 billion in cash and equivalents as of December 31, 2023.
CSIQ has a $2.6 billion e-STORAGE contracted backlog as of January 31, 2024.
As of January 31, 2024, Recurrent Energy’s total solar project development pipeline was 27.3 GWp, including 1.9 GWp under construction, 5.5 GWp of backlog, and 19.9 GWp of projects in advanced and early-stage pipelines.
Outlook: For the first quarter, Canadian Solar(CSIQ) expects total revenue of $1.20 billion – $1.40 billion, versus a consensus estimate of $1.90 billion, and anticipates a gross margin of 17% – 19%.
The company expects total module shipments recognized as revenues by CSI Solar of 6.1 GW – 6.4 GW, with total battery energy storage shipments of 1.0 GWh.
For fiscal 2024, CSIQ expects revenue of $8.50 billion – $9.50 billion versus a consensus of $9.57 billion.
The company reiterated that total module shipments were 42 GW – 47 GW and total battery energy storage shipments were 6.0 GWh – 6.5 GWh.
Price Action: CSIQ shares are trading up 1.15% at $19.79 premarket on the last check Thursday.
[my note: shares now trading at $19.04 at 10:15] |
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| From: Eric | 3/14/2024 12:16:19 PM | | | | | | 247Solar closer to commercializing modular concentrating solar plant
Taking a page from the solar PV and wind industries, the 247Solar Plant is modular and the majority of its components are mass produced and can be assembled at the site.
March 14, 2024 Anne Fischer
Image: 247Solar
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Under development for more than a decade, 247Solar announced it is one step closer to commercializing its solar thermal electric generating technology with an $8 million Series A funding round, $6 million of which has been closed to date.
The company produces “247Solar Plants” that are capable of producing 400 kW of electricity from 1,800 F heat using a solar receiver design. It is a proprietary thermal storage system with a unique turbine, to produce 24/7 solar electricity. 247Solar told pv magazine USA that each plant module simultaneously produces continuous 400 kW of electricity and 600 kWth of industrial heat at 482 F.
The system can generate heat and electricity 24 hours a day, seven days a week. Like traditional concentrating solar power (CSP), 247Solar’s technology uses mirrors to reflect sunlight onto a receiver tower. The tower is 120 feet tall, shorter than traditional CSP towers, and its turbines run on hot air at normal atmospheric pressure, which the company said reduces the system’s complexity.
The intellectual property for the turbine involves a high-temp heat exchanger that replaces the combustor in an otherwise standard Capstone C200 turbine, 247Solar told pv magazine USA. The heat exchanger is based on a design developed by the late MIT professor emeritus David Gordon Wilson. MIT owns the patent for the heat exchanger and 247Solar licenses it from them.
247Solar adapted the heat exchanger to the turbine and tested a prototype in collaboration with Brayton Energy, a New Hampshire based firm that is focused on development of advanced energy technologies.
Another novel aspect of the 247Solar Plant is the energy storage method. Rather than storing the heat in molten salt, the system stores it in inert materials such as sand, ceramics or iron slag for 18 hours or more. When the heat is released, it spins the turbines to generate electricity and industrial-grade heat when it’s needed.
The ability to scale to any capacity is key to this technology, and 247 said its units fit on 5 acres of land. Because the setup is modular, the parts can be built in factories and assembled at the site.
“We’ve been refining our technology for more than a decade and have emerged with groundbreaking products that can provide zero-carbon electricity and heat around the clock with a small footprint, low technology risk, low environmental impact, and a long operating life,” said Bruce Anderson, founder and CEO.
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| From: Eric | 3/15/2024 11:03:05 AM | | | | | | Construction starts on Australia’s biggest battery, to replace Collie coal
Sophie Vorrath
Mar 15, 2024
5
Battery Storage
Construction is underway on will be Australia’s biggest battery project; the giant four-hour Collie battery energy storage system being built by Synergy to soak up Western Australia solar during the day and replace coal in the evening peak.
The battery, which will have a 500 MW/2000 MWh capacity, got its final approvals in December, last year, for development next to the Collie Power station in WA’s south-west.
It will be the biggest in the country once complete, although it may also be rapidly overtaken by other big battery proposals, including Ark Energy’s 2,200 MWh Richmond Valley battery in NSW, which will be the world’s biggest eight-hour battery.
Synergy says local earthworks and rehabilitation specialists Cardinal Contractors has been contracted to complete site preparation earthworks for the battery, with up to 500 jobs likely to be created at the peak of construction.
The Collie BESS is being funded by the state government as part of the state’s accelerated transition to renewables, driven by the huge opportunities on offer from switch to green energy – for industry, mines and consumers – and by the urgent need to replace aging coal generators.
Synergy said on Friday that the newly started project is expected to be completed in 2025, and the state-owned utility has flagged plans to double its size in the future to 1,000 MW and 4,000 MWh.
“Synergy’s ground-breaking project is significant for the Collie community and will help local workers and families as Synergy seeks to exit coal-fired power by 2030,” said state energy minister Reece Whitby in a statement on Friday.
“When complete, this battery will support reliability and more renewable energy on WA’s main electricity grid.”
The Collie BESS is Synergy’s third big battery, with work already completed on the first-stage 100MW, two-hour battery at Kwinana and started on the second stage of that facility, which will be sized at 200 MW and four hours (800 MWh).
Alinta is also building a 100 MW, two hour battery at Wagerup, while Neoen is building a 219 MW/867 MWh battery at Collie, not far from the Synergy battery. Neoen also has a permit to expand that facility.
All are designed to soak up excess solar in the middle of the day and store it for the evening peak. Some of the batteries have already secured contracts to ensure the capacity is available, and tenders have been rolled out for another round of contracts.
The urgency is accelerating. A report prepared by EY to advise the market operator on its new 10-year demand and supply forecast – reportedly suggests that the state’s largest private coal plant, Bluewater, could close as early as 2026.
The state government intends to close the last of its state owned coal generators at Collie before the end of the decade.
The local member for Collie/Preston, MLA Jodie Hanns, said on Friday that construction of Australia’s biggest battery in the WA coal region marked a significant point in the energy transition.
“Collie has been at the heart of WA’s energy system for decades and will continue to play an important role in the future,” Hanns said.
“I’m delighted that a local business has been selected to be part of this project, creating local jobs as part of the ongoing support for our community by the Cook Labor government.”
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| From: Eric | 3/15/2024 6:55:46 PM | | | | | | Debunking solar myths: What about all that land?
Part four of Dan Shugar’s series on replacing fiction with facts about solar, when the proverbial Uncle Bob comes to dinner.
March 15, 2024 Dan Shugar
Wemen Solar Farm (110 MW) featuring NEXTracker’s NX Horizon smart solar tracker. Victoria, Australia.
Image: Nextracker
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‘Uncle Bob’ is that proverbial character who shares at family gatherings all he believes to be true about solar and why it just isn’t a good idea. Dan Shugar, founder and CEO of Nextracker, has had this experience. Based on his 33 years in the solar industry, he offers short, fact-based responses to Uncle Bob’s assertions, which range from “solar is taking coal jobs” to “ solar is unreliable.”
In this part four of the series, Shugar debunks myths about solar using too much land.
The proverbial Uncle Bob asks, “What about all that land being used by solar, if we try to power the country with solar, the whole country is going to be covered with solar panels.”
You could say, listen Uncle Bob, if we were to power 100%, and I mean generate extra energy in the day so batteries are using their power at night for everything, solar would cover less than one half of 1% of the land area.
But of course, solar is not just on land. It is being put on rooftops on homes or businesses. It covers carports. We see those a lot of solar on schools and for systems that are on the ground, which typically follow the sun with a tracker, we’re seeing customers increasingly use dual-use applications. For example, one of our great customers, Silicon Ranch Corporation, has pioneered the idea of dual use with agriculture and ranching where we’re seeing many solar power plants grazing livestock, sheep, cattle, and pollinators.
There’s plenty of area out there and we’re creating economic value in communities where projects are being built. We’re not manufacturing things in a faraway land and dumping them in communities, but they’re being made in the communities in which they’ll be used.
One of the most gratifying projects we’ve done at Nextracker with our manufacturing partner, J.M. Steel, brought new life to a manufacturing facility in Pittsburgh, Pennsylvania that had previously been a Bethlehem Steel facility, but it had been dormant for many decades. In fact, at that exact facility they made landing aircraft that were used to support the Normandy landing in World War Two. But we were able to use that existing technology with steel conveyors and equipment and infrastructure to start making modern solar plants. So, we’ve been able to create a new ecosystem.
It’s the ground zero of the new industrial revolution in clean energy.
Episode four: What about all that land being used by solar?
Dinner with Dan: Episode 4 - "Solar Takes Up Too Much Land!"
Nextracker LLC
Dec 21, 2023
So what about the land requirements for solar power? Is the whole country going to be covered with solar panels? The answer is no, as broken down in the latest video in our "Dinner with Dan" series of responses to solar myths you might hear from “Uncle Bob” at your holiday dinner table.
First, in realistic models of a fully renewable grid, including wind, hydro, geothermal, batteries, and both ground-mounted and rooftop solar, utility-scale solar might require just 0.2% of the land in the continental US. Even if 100% of our electricity came from ground-mounted solar, it would take up less than 0.5% of US land area.
There are also increasing numbers of dual land-use projects that combine agriculture or livestock grazing with solar. This can provide another income stream for farmers and ranchers while also providing benefits for the solar plant such as less dust and cooler operating temperatures. In comparison with hydraulic fracking for fossil fuels, which can ruin land for farming, a solar plant also allows land to be restored for agricultural uses in the future.
It’s also important to note that solar plants can create other local benefits. Since the passage of the IRA in 2022, there have been over 100 announcements of new or expanded factories to manufacture solar, wind, and battery systems in America. These facilities are geographically distributed across the country and often manufacture products for use in the same communities where they are located.
Farming the sun while farming the land…very exciting stuff! Watch the video to hear how I’d respond to “Uncle Bob,” including examples of how Nextracker and our partners and developing dual-use solar projects and opening American manufacturing facilities. Shug
youtube.com
We’ll continue this series with fact-based responses to additional myths such as “solar takes too many coal jobs”.
Stay tuned as we unpack these objections, so you’re ready for your next dinner party with Uncle Bob.
View earlier episodes:
- Part one, “All panels come from China” here.
- Part two, “Solar is unreliable” here.
- Part three, “What about nuclear?” here.
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| From: Eric | 3/15/2024 7:01:05 PM | | | | | | Algeria’s Sonelgaz awards 3 GW of solar projects
Representatives of Algerian state-owned utility Sonelgaz have signed contracts with local and foreign companies for the construction of 20 solar projects from two tenders.
March 15, 2024 Marija Maisch
Image: Eni
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A total of 19 contracts have been signed by representatives of Algerian state-owned utility Sonelgaz for the construction of 20 solar projects with a cumulative capacity of 3 GW.
The projects were awarded to a mix of local companies and foreign companies. The signing ceremony took place this week in the presence of Minister of Energy Mohamed Arkab and Minister of Environment Fazia Dahlab.
The capacity was allocated as part of a 1 GW scheme launched in late 2021 and a 2 GW tender initiated in February last year. The 2 GW procurement exercise will deliver 15 PV projects, with capacities ranging from 80 MW to 220 MW, in 12 provinces across the country. The tender attracted 20 bidders and a total of 77 offers.
The 1 GW tender involves the construction of five solar projects in five provinces, with capacities ranging from 50 MW to 300 MW. The two initiatives are part of the country's goal to deploy 15 GW of solar and stop using natural gas. According to local media reports, Sonelgaz appears set to launch another 3 GW procurement exercise later this year.
Algeria had installed about 423 MW of solar capacity by the end of 2021, according to the International Renewable Energy Agency (IRENA).
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| From: Eric | 3/15/2024 7:07:10 PM | | | | | | U.S. solar industry week in review
pv magazine USA spotlights news stories of the past week including market trends, project updates, policy changes and more.
March 15, 2024 pv magazine
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A seismic shift may be coming to U.S. energy sector and economy: FTI Consulting released a report reviewing renewable energy merger and acquisition (M&A) activity in 2023 and provided an outlook for 2024. FTI anticipates various factors will drive an increase in M&A activity in the renewable energy sector. The report sees an uptick in corporate renewables adoption as decarbonization and electrification continues to come to the forefront, and it expects oil and gas players to actively invest in the sector.
California energy policy now must consider health and environment: The California Energy Commission (CEC) approved a petition that requires it assess “non-energy benefits” of various energy technologies in its policy decisions. The decision marks the first positive development for distributed renewable energy in California, a state that has taken numerous regressive policy actions over the past eighteen months.
What might a new administration cut from the Inflation Reduction Act?: A live podcast by Norton Rose Fulbright discussed how a Republican administration might handle the Inflation Reduction Act. The panel noted that several provisions have bipartisan support, including carbon capture, hydrogen, fuel credits and possibly domestic manufacturing tax credits. The group said repeal of the IRA may not be an all-or-nothing scenario, but a potential new administration may tweak or remove the things they don’t like.
Experts deep dive into IRA tax guidance: At SEIA’s annual Finance, Tax, and Buyer’s Seminar, key topics included tax credit transferability rules, the process of filing for and monetizing “elective pay”, domestic content and brownfield tax adders, capital structures, and the evolving finance structures. Also covered was the risk of tax credit recapture by the IRS, which can occur when solar projects fail to meet the technical requirements that initially qualified them for tax benefits.
Giant solar project in Texas secures nearly $600 million: Primergy Solar closed commitments for $588 million in debt financing for the 408 MW Ash Creek solar project in Hill County, Texas, south of Dallas. Once complete, the project is expected to generate the equivalent electricity demand of 90,000 homes per year, though it will be fully dedicated to Microsoft through a power purchase agreement.
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| From: Eric | 3/18/2024 7:19:22 AM | | | | | | Chart of the Day: California surges beyond 100 pct renewables
Source: CAISO
Giles Parkinson
Mar 18, 2024
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Chart of the day
Solar
Wind
South Australia leads the world in the uptake of wind and solar – averaging more than 71 per cent over the past year and regularly delivering more than 100 per cent of its local demand.
It’s a relatively small state with a modest economy. But now California, the world’s biggest sub-national economy, and the fifth biggest in the world if it were a country, is also setting new benchmarks for renewables, with its wind, solar and hydro resources more than matching demand over the past week.
According to Mark Jacobsen, the Stanford University academic who has outlined plans for wind, water and solar to provide the bulk, if not all, electricity needs in countries across the globe, California’s wind, water and solar resources have bested 100 per cent of local demand for varying periods in nine of the last 10 days.
On Sunday, California time, the peak was 115 per cent of demand and wind, water and solar beat demand for five solid hours.
Jacobsen says that wind, water and solar have accounted for more than 100 per cent of state demand for between one and six hours for nine out of the last 10 days. And that is one in the eye for all the naysayers.
“In 2009, when we first proposed 100% WWS, the utilities and naysayers claimed the grid would go unstable with more than 20 per cent renewable energy, with no evidence,” Jacobsen wrote on X.
“In 2017, they claimed, with no evidence, a limit of 80 per cent. In 2020, they claimed 90%, then 95% . Now 100% WWS is here to stay.”
This above graph, taken from the California system operator CAISO, where Jacobsen sources his data, shows wind and solar alone accounting for all of state demand for a brief time on March 13 – a common occurrence in South Australia, but rare for a grid with demand at near 20 gigawatts.
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| From: Eric | 3/18/2024 8:08:09 AM | | | | | | Best battery storage sites going quickly, and some lucky landowners are cashing in
Artist impression of Melbourne Renewable Energy Hub battery. Image: Equis.
Rachel Williamson
Mar 18, 2024
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Storage
The best sites for large scale battery storage projects are all likely to be taken within the next three years but scarcity isn’t driving better prices for landowners, says the boss of a renewable energy project land acquisition company.
“In New South Wales (NSW) all of the really good battery sites are taken,” says Daniel Moroko of Rok Solid.
“Most of the sites in Victoria are taken as well.”
Once the larger sites are taken he expects more local batteries to appear which can sit on 66 kilovolt (kV) lines near small substations.
Battery sites are commonly sold to developers at a premium of 1.5 times to double what the land is worth, Moroko says.
But the rising scarcity of spots isn’t causing a spike in land prices around substations because once one project is planned, the capacity available in the neighbouring infrastructure is also reduced.
“There’s a finite amount of battery energy storage sites in the country left, but near most of the substations there’s already a battery storage project planned, so it almost diminishes the value [of the remaining land] because if there’s one next door it reduces the amount of capacity [in the substation],” he says.
“Lots of landowners don’t understand this. So a lot of the time, if they don’t know how it works, sometimes they’re asking for too little, and sometimes they’re asking for too much or terms that are unrealistic.”
‘Super’ substations like the one in Tamworth have the capacity to host multiple projects. Currently three are jostling for position: Equis Energy’s 300MW/1200MWh Calala battery, Maoneng’s 200MW/400MWh Tamworth Big Battery, and Iberdrola’s proposed two hour, 270MW Kingswood battery.
Over the last year batteries have proven themselves to be a real revenue generator and as a result, are extremely popular for developers.
Energy arbitrage – buying electricity cheap and selling high – generated record revenue for batteries in 2023, while Neoen said last year it expects the four-hour Collie battery in Western Australia to be one of the most profitable assets in its portfolio.
Neoen CEO Xavier Barbaro says batteries usually deliver higher returns than wind and solar farms.
Transmission, hydrogen could change that picture But if network companies enthusiastically take up the kinds of cheap-and-quick infrastructure-improving technologies being tested in the US, that calculus could change.
“In theory, let’s say all transmission lines are upgraded and technologies are upgraded. That will release a lot more rural land for solar that people wouldn’t normally look at, because the infrastructure is so poor,” Moroko says.
“Then they will end up doing batteries out there too. But that’s a hypothetical situation.
“It should be done quickly but in Australia, with all of the red tape and different political environments where things change, I think it will take a lot longer than people are expecting.”
About three years ago Moroko’s company mapped all substations in Australia and the landowners around them.
As a result, he’s been behind many of the land deals for large-scale batteries in the National Energy Market (NEM), as well as a number of small and large-scale solar projects.
Moroko believes the next big thing for landowners after batteries might be sites for green hydrogen, which would need to be near grid infrastructure and water sources.
Solar projects offer multi-million dollar annuities If battery projects can offer a landowner a windfall, solar projects offer a long term annuity as land is leased.
Bite-sized solar around the 5 megawatt (MW) scale will see land priced on average at $2800 per hectare (ha), with an annual gain factored in.
For a 20ha parcel of land, that works out at a headline price of $1.12 million over the life of a 20-year lease.
Larger scale solar which needs parcels of land in the hundreds of hectares is priced around $1200-$1500.
For a 500ha parcel of land, as Moroko recently negotiated outside Rockhampton in Queensland, that works out $12-15 million over a 20 year lease.
The ability to run sheep under solar panels, as is now popular in Australia, doesn’t affect the lease rates given the win-win outcome for both parties.
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