The retirement and insurance provider will pay $1.2 billion for a share of the power giant’s 1.7 GW solar portfolio. Southern will still operate the projects.
The battery integrator has already began to draw on the funds as it continues to expand its market presence in the United States and in Australia. Shell Ventures is now a major sonnen investor and and the companies have agreed to future cooperation.
A new report by Rocky Mountain Institute finds that gas plants proposed across the United States over the next 15 years could be replaced by clean energy portfolios at a net savings, and that these projects are at risk of becoming stranded assets.
Prudential is providing $107 million in debt for the project in Cabarrus County which will be one of the largest in the state when complete.
Tesla’s batteries may soon be Made in China. The announcement was made by Panasonic CEO Kazuhiro Tsuga during a conference accompanying the company’s 2018 fiscal-year results.
CIT Group and RBC Capital worked together to fund the portfolio of projects spread across six states, with half the capacity in California and Arizona and the other half in the northeast.
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