Nextracker’s solar tracker technology has been chosen for Australia’s largest solar farm, a 460 MW-peak installation in Queensland’s Western Downs. The independent power producer for the project is Neoen and the project’s EPC contractor is Sterling and Wilson. Installation of the trackers is due to begin in 2021. In testing conducted by Nextracker and verified by PVEL, Nextracker delivered up to 1% to 2% additional yield in bifacial applications compared to other traditional one-in-portrait trackers. Source: Nextracker
Climate Real Impact Solutions (CRIS), the first climate-focused special-purpose acquisition company (SPAC), announces the formal closing this morning of its IPO at $230 million. CRIS is founded by David Crane, former CEO of NRG; John Cavalier, former managing partner of Hudson Clean Energy Partners; and Beth Comstock, 27-year veteran of GE. CRIS will identify, acquire and maximize the value of a company in the business of decarbonizing the residential, commercial or transportation sector; or in the business of removing CO2 already in the atmosphere. Source: CRIS
Romeo Systems, a maker of lithium-ion battery packs for EVs, is going public via a reverse-merger — merging with RMG Acquisition Corp in a deal worth $1.33 billion. Romeo specializes in EV battery systems for commercial vehicles. One key partner for Romeo is auto parts supplier BorgWarner, which owns a 20% stake in Romeo. The deal is expected to raise $384 million for Romeo. $150 million will come from The Heritage Group and Republic Services – the latter placed an order for 2,500 battery-electric garbage trucks from Nikola in August. Other companies in the EV arena – including Nikola, Fisker, Canoo, and QuantumScape – have gone public via a reverse merger this year or have announced plans to do so. Faraday Future, a Los Angeles-based EV aspirant, is seeking to go public via a SPAC deal, per comments by its CEO. Source: Reuters, Axios
FERC approved a CAISO tariff change to increase demand response participation by businesses offering on-site EV charging and a second change to improve accounting for the load-shifting capabilities of behind-the-meter storage resources. The ISO pays DR resources when they curtail load during times of high demand for electricity and strained supply. But a growing share of DR resources now include on-site load, generating capacity and batteries. In particular, the ISO said, a growing trend is providing EV charging at large energy customer locations, such as grocery stores, theaters and office buildings. ‘According to CAISO, EV supply equipment frequently operates under the same retail meter and account as their host facility,’ FERC said. ‘Thus, the entire facility must participate as a single metered resource even though the EVSE and on-site host load may have very different load profiles. Source: RTO Insider
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