The deal will include a $300 million to $400 million investment to support REV’s portfolio of renewable power and energy storage projects.
Heliogen’s technology is a modular concentrated solar energy system that will use computer vision software to align mirrors to reflect sunlight to a single target on the top of a solar tower.
Also on the rise: SolRiver Capital buys an Oregon solar development portfolio, Swell Energy expands its distributed power plant model, and a shift in focus is coming to a DOE loan program.
The Oregon utility said that as much as 25% of peak demand power in 2030 could come from customer-owned solar panels, batteries, and electric vehicles.
Swell will use its Distributed Power Plant model to establish up to 45 MWh of behind-the-meter solar powered energy storage for Redwood Coast Energy Authority.
Also on the rise: SEG Solar expands its module production in Cambodia, Kentucky’s solar pipeline looks impressive, and Summit Ridge starts work on a community solar portfolio.
The 50:50 joint venture with Norway-based FREYR could result in factories with an initial production capacity of 50 GWh per year by 2030.
If a Customs enforcement action were to take place, importers would need to prove that no forced labor was used at any stage of production, including all the way back to the mine.
Also on the rise: Under new ownership, a Norwegian module maker could add 1 GW of U.S. capacity; Sunrun add $1 billion to a finance facility; and a natural gas-friendly renewable energy bill passes in North Carolina.
The system would be connected to the ConEdison grid as a distributed generation asset, and could come online in 2022.
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