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Arcadia has closed on a growth round to support expansion of its community solar program, alongside products leveraging AI to unlock new use cases built on the company’s energy data.
The round includes a fund managed by Macquarie Asset Management as a new equity investor, alongside existing investors Energy Impact Partners, J.P. Morgan Asset Management, BoxGroup, G2 Venture Partners, Camber Creek, Triangle Peak Partners and Broadscale Group.
“With this funding, Arcadia can continue to meet growing demand from our 300-plus enterprise customers and 75-plus community solar developer partners, all of whom are accelerating deployment and adding new solutions like battery storage, heat pumps and EV charging to their portfolios,” says Kiran Bhatraju, founder and CEO of Arcadia.
Concurrent with the close of the financing round, Arcadia closed a new $30M credit facility with J.P. Morgan.
The post Arcadia Raises $50M to Accelerate Community Solar Product Growth appeared first on Solar Industry.
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Author: Michael Bates
Repsol has completed construction of its Frye Solar project located in Swisher County, Texas, with a total installed capacity of 637 MW and 570 MW currently in operation.
Frye Solar is comprised of nearly one million solar panels, the company says, and its largest PV project to date. Repsol has signed a PPA for 89% of the project’s output.
“Repsol views completion of our largest U.S. renewable facility to date as a major milestone that will contribute to our commitment to become a net-zero emissions company by 2050,” says Repsol’s Federico Toro. “Our growth ambition in this country is significant.”
Repsol entered the U.S. renewable energy market in 2021 with the 40% purchase of Hecate Energy, a domestic company specializing in the renewable development and energy storage projects.
The post Repsol Completes Construction of Frye Solar in Texas appeared first on Solar Industry.
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Author: Kimberly Warner-Cohen
Bekaert has joined the Nautical SUNRISE project, aimed at advancing the mooring technology for offshore floating solar power generation and is set to support what the company calls the world’s largest offshore floating solar power installation.
The project aims to design and build a 5 MW offshore floating solar system using the modular solution of Dutch floating solar company SolarDuck. RWE will provide investment for the installation and deployment, with the system planned to be electrically integrated, certified and located within RWE’s OranjeWind (Hollandse Kust West VII) wind farm off the west coast of the Netherlands.
“As part of this collaboration, our team will evaluate the performance and cost-effectiveness of various mooring solutions, including polyester, nylon and new technologies such as the TFI Marine SeaSpring load reduction device,” says Bekaert’s Christof Dewijngaert. “We are committed to exploring the stiffness characteristics of different mooring options under varying conditions, ensuring the optimal design for offshore floating PV.”
The project’s collaboration partners are: project lead Dutch Marine Energy Centre, SolarDuck, RWE, Blunova, Bekaert, Deltares, Hasselt University, KU Leuven, Oxford PV, SINTEF Industry, SINTEF Ocean, The Catalonia Institute for Energy Research, INESC TEC and WavEC Offshore Renewables.
The post Bekaert to Provide Mooring Solution Analysis on Offshore Floating Solar Plan appeared first on Solar Industry.
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Author: Kimberly Warner-Cohen
The Ministry of New and Renewable Energy (MNRE) has expanded the Approved List of Models and Manufacturers (ALMM) by adding 4,104 MW of new solar module capacity. The cumulative module manufacturing capacity under ALMM now stands at 41,333 MW.
Premier Energies accounted for 1,320 MW of the newly added capacity, while Grew Energy contributed 1,150 MW. The other new additions include ReNew (856 MW), Swelect HHV Solar Photovoltaics (474 MW), Agrawal Renewable Energy (83 MW), Integrated Batteries India (58 MW), Solberry Energy (56 MW), AG Solar Urja Udyog (53 MW), Total Solar Technologies (52 MW), and Contendre Greenergy (2 MW).
Grew Energy, Solberry Energy, AG Solar Urja Udyog, and Total Solar Technologies were the new entrants to ALMM.
Waaree Energies has an enlisted capacity of 10,775 MW out of its total manufacturing capacity of 12,000 MW, indicating that approximately 90% of its total capacity is ALMM enlisted.
Waaree Energies, Adani Solar, ReNew, Tata Power Solar, Goldi Solar, Premier Energies, Vikram Solar, Emmvee Photovoltaic Power, and Grew Energy have each enlisted a capacity exceeding 1 GW. They contribute 31,395 MW or 76% of the total cumulative module manufacturing capacity under ALMM.
A total of 465 MW capacity was removed from ALMM.
The highest capacity module listed in the ALMM continues to be at 655 Wp.
Agrawal Renewable Energy initially applied for enlisting 160 MW, but has received final enlistment for 83 MW, bringing their total to 143 MW. Similarly, Swelect HHV Photovoltaics initially applied for 500 MW, has received final enlistment for 474 MW, increasing their total to 627 MW.
This update follows weeks after the Ministry implemented the ALMM regulation starting from April 1, 2024. For projects where the solar modules have been received at the project site by March 31, 2024, and are not able to be commissioned by that day due to reasons beyond the control of the project developer, the ministry will examine it separately.
According to Mercom India Research’s recently released State of Solar PV Manufacturing in India 2024 Report, the country’s cumulative solar module manufacturing capacity reached 64.5 GW, and solar cell manufacturing capacity reached 5.8 GW as of December 2023.
The report forecasts that module manufacturing capacity will exceed 150 GW and cell capacity will reach over 75 GW by 2026.
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