Another DG Deal. Days after a major DG acquisition, AltaGas is selling its 313MW portfolio to TerraForm. TerraForm is buying the diverse portfolio for $720million from the Canadian firm. The surprise for me was AltaGas having amassed that large of a C&I portfolio and I can’t recall them being active in development market. This goes to show that there is still quite a disconnect between potential owners/investors in C&I projects and those that are trying to put those deals together. 

Texas Solar Growth. 8minute Solar is in the market with the sale of a 200MW project in Texas. Texas is quickly becoming the lowest cost of solar market for utility scale project and as long as the interconnection process continues while allowing synthetic energy products to be written by traders, development and investment will occur. Let’s hope that the ITC extension will keep that edge market going. 

A Market Statement. Over the past few years, NextEra’s conference calls have been the canary in the coal mine when it comes to the view of the ‘market’. It started with coal will have a hard time competing with gas and solar with storage will make it hard for gas to find a home. Now the statement of 50% renewables by 2030 makes quite the splash because that is in line with some of the Green New Deal goals. 

The NY Storage Market Starts. Different technology and the same fight. Who should own energy resources and while many utilities keep showing that they only care about the return to their shareholders by investing as much as possible, the market should reject this notion and let the competitive markets do their jobs. New Yorkers should embrace the ability of developers, property owners and energy users to make their own decisions. More on this topic is a podcast interview with the CCO of Engie Storage which drops today at 10am Pacific. Make sure you are subscribed to hear it first. 

Asking FERC. Amy Harder spoke with all four commissioners at FERC. Some of the feedback is telling and some of it may be for the audience at 1600 Penn. 

• Greentech Media: TerraForm Power to Invest $720M in Distributed Solar Portfolio
• Solar Power World: Duke Energy acquires its largest solar project yet
• CleanTechnica: NextEra Energy Predicts 50% Renewable Energy In US By 2030
• Utility Dive: ConEd, O&R seek to add at least 310 MW of bulk storage in pursuit of New York’s 3 GW target
• RenewEconomy: Who is going to manage and control rooftop solar, batteries and electric vehicles?
• Axios: Energy regulators divided over natural gas and climate change
• New York Times: California, Wary of More Wildfires, Is Paying for Them Already
• Vox: New York just passed the most ambitious climate target in the country

Opinion

• NJ.com: Sure, PSE&G can help us have a clean energy future, but without them having a monopoly in the state, former utility CEO says

Have a great day!

Yann

• Greentech Media: Dividend Finance Enters Solar Loan Partnership With KeyBank
• Scientific American: One Small Step Back in Time: Relive the Wonder of Apollo 11
• SolarWakeup Live: Vote Solar’s Nathan Phelps On Regulations Impacting Solar’s Growth
• Utility Dive: 13,000 without power following explosion at Madison Gas & Electric substation
• NPR: Gov. Sununu Signs One Pro-Solar Bill, Vetoes Another
• Axios: Coal bankruptcies are piling up
• Reuters: Expiring U.S. solar subsidy spurs rush for panels

Opinion

• GreenBiz: Let’s talk about Renewable Energy Certificates … for natural gas

Have a great day!

Yann

Friday Rundown. Have a great weekend!

CleanCapital Grows. Doing big deals and growing larger which each one. 

Florida Consumers. Want more solar and are writing letters to the editor. 

A NY GND. Cuomo signs an offshore wind deal and enacts major climate legislation. 

Power Plants You Can’t See. Sunrun wins another virtual deal with a local CCA in the East Bay. This space will get big fast. 

Vote Solar Pod. My interview with Vote Solar’s Nathan Phelps is live, check it out and review it!

• Bloomberg: CleanCapital and CarVal Arrange $300 Million Debt for Solar
• Sun-Sentinel: Why isn’t the Sunshine State the leader in using solar power? | You asked, we answer
• Albany Times Union: New York’s climate change bill is law
• Greentech Media: Sunrun Wins Another Capacity Contract for Aggregated Home Storage
• SolarWakeup Live: Vote Solar’s Nathan Phelps On Regulations Impacting Solar’s Growth
• Utility Dive: Hawaiian Electric finalizes largest-ever renewables procurement
• PV-Tech: German fund partners with ReNew Petra to develop annual 100MW of US solar

Opinion

• PV-Magazine: What is rooftop solar really worth?

Have a great day!

Yann

We Are Powerful. In less than a week, 1,000 companies signed a letter to Congress. Don’t underestimate what that means to politicians. Those 1,000 companies could send tens of thousands of emails to employees creating action and members recognize that. Give yourself a pat on the back and be ready to do it again, again and again. Send a tweet or Linkedin post that includes #SolarWakeup #DefendTheITC and spread the word!

The Next Steps. If my statement above is correct, I hope to see some action from Congress next week including potentially some legislation. Watch this space…

Fort Lauderdale’s Finest. Ben Geman of Axios looks at the late Chief Justice’s climate record. Justice Stevens and I shared a home town as he spent time in Fort Lauderdale. It was always intriguing to get your ice tea as a former Chief Justice is sitting at a table nearby at the golf course. 

GE Bows Out. Selling 80% of the company formerly known as GE Solar to Blackrock means that GE is basically done with solar. The company has been renamed and will focus on distributed solar. 

• PV-Tech: Close to 1,000 solar companies push for an extension of US ITC
• Greentech Media: Clean Energy Policy Push Faces Steep Climb Ahead of 2020 Election
• Axios: The climate legacy of Justice Stevens
• Bloomberg: GE Sells Solar-Business Stake to BlackRock
• Atlanta Journal Georgia commissioners, all Republicans, increase solar power, cut coal
• GreenBiz: 10 questions with Ultra Capital, infrastructure financiers greasing the circular economy’s wheels
• Utility Dive: State carbon-free policies increasingly inclusive of nuclear, but resource needs federal boost

Opinion

• Marketplace: Can batteries help get the U.S. off the natural gas “bridge?”

Have a great day!

Yann