Duke’s battery bonanza, Sunrun prices securitization: pvMB 6/4/19

Duke to install 22 MW of batteries – Duke Energy Florida, seeing Florida Power and Light’s domination of utility-scale development in its namesake state, has decided to compete on batteries. The utility has announced plans for 3 battery storage projects to be located in the state, totaling 22 MW. The development will be anchored by the 11 MW Trenton lithium-based battery facility in Gilchrist County, the 5.5 MW Cape San Blas lithium-based battery facility in Gulf County and the 5.5 MW Jennings lithium-based battery facility, located a mile and a half south of the Florida-Georgia border in Hamilton County. Source: Duke Energy Florida

Sunrun prices 3rd securitization – “Sunrun today announced it has priced its third securitization of leases and power purchase agreements, known as Sunrun’s solar-as-a-service offering. The securitized leases and power purchase agreements have been in service for an average of over six years and are no longer subject to tax equity financings. The securitization was rated A- with a principal amount of $204 million, a weighted average life of 6.6 years and final maturity of June 30, 2054. The notes can be called by Sunrun without any call premium beginning June 30, 2025.” Source: Sunrun

US Light Energy starts work on 7 MW community solar project – Clifton Park, NY will soon have its first community solar farm, thanks to NY developer, US Light Energy. The project will provide enough electricity to power 600 homes, and residential and commercial properties in Clifton Park will have 30 days to subscribe before the solar energy generated by the farm is opened to the general public. Source: US Light Energy

Modernize partners with Renovate America – “Modernize has announced a strategic partnership with home improvement financing leader, Renovate America. The partnership will give homeowners ready access to simple and effective new financing options through Modernize’s network of contractors. Renovate America offers an online tool that contractors can use in their proposal meetings with homeowners. Contractors with no background in financial planning will now be able to easily show customers an array of financing options for projects up to $50,000.” Source: Modernize

Maine legislature submits community solar bill for greater than 400 MW – A new bill has been introduced into the Maine legislature, which would add more than 400 MW of community solar. Most importantly, the bill, LD 1711, will, if passed, eliminate the arbitrary cap of 9 subscribers per solar farm currently in place in the state. The bill also placed priority on community solar access for low-to-moderate income families. The bill sets out to establish enough community solar to power 45,000 homes. Source: Solar Builder

2 MW battery storage system in NY – “Aggreko today announced that it has partnered with National Grid U.S. to complete the installation of a 2MW/3.8MWh battery storage system in Pulaski, New York. The system, which is the first of its kind in National Grid’s U.S. service area, will provide supplementary electricity load relief to the utility’s customers at peak times, enhancing grid stability in the upstate New York area. The system has been designed by Aggreko to handle 2MW of customer demand, which is the equivalent of powering approximately 1,600 homes for up to two hours. The project is being unveiled at a ribbon-cutting event today at National Grid’s Pulaski, N.Y. site.” Source: Aggreko