Morning Brief: 294 MW Muscle Shoals solar project sold to Ørsted


Longroad Energy, a US-based renewable energy developer, owner and operator, completed financing and sale of the 294 MW Muscle Shoals solar project to Ørsted.  Muscle Shoals Solar, the largest renewable energy project in Alabama, is expected to come on-line mid 2021 and Longroad Energy will manage the construction. The project has a 20-year power purchase agreement with the Tennessee Valley Authority.

  • EPC is Swinerton Renewable Energy
  • Panels are First Solar’s Series 6 technology
  • Inverter supply with Power Electronics
  • Tracker supply with NEXTracker

Wells Fargo is the sole tax equity investor in the project. Longroad is owned by the New Zealand Superannuation Fund, Infratil Limited, and Longroad’s management team. Source: Longroad

The solar panels of Aptos Solar, a U.S. based supplier, have been added to Loanpal’s approved vendor list, allowing solar installers to offer Aptos solar panels with competitive financing options to residential customers. Aptos claims its panels are optimized with patented “dual nano absorber” technology which allows the panel to operate at high efficiencies in extreme temperature environments. Source: Aptos Solar

CleanSpark, a software and services company, and ReJoule, a battery diagnostics and optimization company were awarded a $2.9 million grant from the California Energy Commission. ReJoule and CleanSpark will be supported by Ford Motor Company, BigBattery, and GRID Alternatives. The CEC Grant proposal was for Validating Capability of Second-life Batteries to Cost-Effectively Integrate Solar Power for Small-Medium Commercial Building Applications. The goal is to deploy second life batteries from EVs for use in a microgrid application.  Source: CEC

Maxeon Solar prices upsized $185 M green convertible senior notes offering: Maxeon, a wholly owned subsidiary of SunPower, priced upsized $185M (from $175M) of its 6.50% green convertible senior unsecured notes due July 15, 2025 in a private offering.

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