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Apr 29, 2024
Introducing Brillion, an AI-powered, Dynamic and Customer-engagement Application Suite for Utilities

As utilities across North America explore and introduce new initiatives for energy savings, electrification, and other clean energy-related demands based on changing market needs, Brillion has officially launched. Brillion is a SaaS company offering a modern suite of artificial intelligence-powered applications designed to transform utility customer interactions into collaborative partnerships to help them modify energy usage and take advantage of energy-savings improvements while managing costs. 

Brillion has integrated four world-class, energy-focused software companies – Apogee Interactive, AIQUEOUS, energyOrbit, and EnergyX Solutions – to provide an enhanced, end-to-end solution from their complementary technologies that lowers the cost to engage, educate, and fulfill dynamic utility and customer needs.

By forging more personalized and stronger customer relationships using Brillion, energy providers can drive a more sustainable and energy-efficient landscape. Brillion stands out as a purpose-built, customer engagement solution that harnesses the power of data science and AI to engage and educate customers about energy efficiency and clean energy programs, including electrification, and it optimizes demand-side management (DSM). 

“We’ve heard from energy providers who have asked us to help them address fundamental business challenges to stabilize demand and rising distributed generation costs, as well as how they can manage new competitors and new regulations,” said Jon Ezrine, CEO, Brillion. “To continue to thrive, utilities understand that they must capture consumers’ attention and exceed their expectations.

“Utilities also have let us know that their customers want relevant, not more, communications from them. They want a lower cost to service as well as what actions they can take to increase energy savings. In partnering with Brillion, energy providers can realize hidden energy savings for customers, increase program participation and meet their own savings targets, saving time and resources. They also can better track usage and behaviors giving them insights into cost savings and environmental impact. This helps them provide better customer service and satisfaction.” 

Brillion’s SaaS platform is comprised of three applications: Brillion Engage, Brillion Educate, and Brillion Fulfill – which leverage AI, behavior and data insights:

·       Brillion Engage: A communications suite that engages and informs customers at key interaction points. Messages are personalized with information relevant to each customer, which helps increase response. They explain a customer’s energy use, while factoring in rate changes and then recommending the best ways for customers to optimize energy usage.

·       Brillion Educate: A complete suite of self-serve tools that help customers better understand and improve their energy use while lowering costs. The application integrates quickly with energy providers’ billing portals using such vehicles as videos and interactive instruction to explain billing and rate changes. This component then recommends specific actions and targeted offers to improve energy and cost savings, to be implemented at a customer’s discretion.

·       Brillion Fulfill: A configurable program management suite that speeds delivery and streamlines operations of energy efficiency, demand-side, and clean energy initiatives. This application automates many manual tasks in running these programs, including tracking enrollment, coordinating trade alliances, processing incentives, and reporting regulatory milestones.

For details on the previous acquisitions by Brillion, follow this link. 

Brillion | https://brillion.ai/

 

 

Apr 29, 2024
Volt Lithium Announces US$1.5 Million Strategic Investment to Commence Field Operations in the Delaware Basin in Texas, USA

Volt Lithium Corp. (TSXV: VLT | OTCQB: VLTLF) (“Volt” or the “Company”) is pleased to announce a strategic investment of US$1,500,000 (the “Strategic Investment”) by a company (the “Investor”) with operations in the Delaware Basin in West Texas, USA, for the deployment of a field unit. This field unit will produce lithium hydroxide monohydrate using Volt’s proprietary direct lithium extraction (“DLE”) technology, building on the work done to date by Volt at the Company’s permanent Demonstration Plant in Calgary, Alberta.

“We are very pleased to be collaborating with this operator to deploy Volt’s field unit in the Delaware Basin.” commented Volt’s President & CEO, Alex Wylie. “Volt has spent the past several months working with this operator to ensure the successful extraction of lithium from this operator’s brine at our Demonstration Plant”.

The Strategic Investment

The Strategic Investment is to be completed by way of a non-brokered, private placement (the “Private Placement”) with the Investor. Under the Private Placement, 6,818,182 units of Volt (“Units”) will be issued to the Investor at a price of US$0.22 per Unit for aggregate consideration of US$1,500,000 and is expected to close on or about May 1, 2024. Each Unit will consist of one common share in the capital of the Company (each, a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”), with each Warrant exercisable into one Common Share (a “Warrant Share”) at a price of US$0.35 per Warrant Share. The securities issued under the Private Placement will be subject to a hold period equal to four months and a day from the date of closing of the Private Placement. The net proceeds of the Private Placement will be used to build and deploy a field unit for one of the Investor’s facilities in the Delaware Basin and for general corporate purposes. The Private Placement remains subject to the review and approval by the TSX Venture Exchange.

The securities referred to herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About the Delaware Basin

The Delaware Basin is one of the largest conventional oil and gas producing basins in North America, with approximately 10.9 million barrels of water produced every day in association with the oil and gas production.

Volt Lithium | https://voltlithium.com/

Apr 29, 2024
 Century Lithium Announces Positive Feasibility Study for the Clayton Valley Lithium Project, Nevada

Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (Century Lithium or the Company) is pleased to announce the results of a National Instrument 43-101 (NI 43-101) feasibility study (Feasibility Study, FS or Study) completed on its 100% owned Clayton Valley Lithium Project (Project) in Nevada, USA. The Feasibility Study was prepared by Wood Group USA, Inc. (Wood) and Global Resource Engineering, Ltd. (GRE). All currency amounts in this news release are presented in U.S. dollars.

"Century Lithium is proud to present our Feasibility Study. The Study indicates our Project has robust economics, made possible with our unique chlor-alkali and DLE processes" commented Bill Willoughby, President, and CEO. "Completion of the Study marks a major milestone for the Company and is the result of the dedicated work and efforts of our team of employees and consultants."

"Our process technology was developed by way of many trials and successes at our Pilot Plant in Amargosa Valley. As one of the few lithium-focused Pilot Plants in North America, we continue to operate safely and recently passed two years of testing. The data generated to date supports the Feasibility Study, and we continue to test various conditions and ideas to improve our process flow sheet," said Bill Willoughby.

With the Feasibility Study completed, the Company will now direct its focus on engineering and permitting. The Company is concurrently advancing discussions with government agencies, strategic partners, and other interested parties to provide funding to advance the Project and maximize the value to the Company's shareholders that is reflected in the FS.

FEASIBILITY STUDY SUMMARY

The information in the following tables highlight the Project's production and economic summaries.

Production Summary

Phase

Years

Mine tonnes per day (tpd)

Li2CO3 (tpa)

Capital Cost (B$)

1

1-5

7,500

13,000

$1.537

2

6-10

15,000

28,000

$0.651

3

11+

22,500

41,000

$1.336

Economic Summary

Units

Amount

Operating Costs (average)

$/t

8,223

Operating Costs (average w/NaOH credit)

$/t

2,766

After-tax NPV @ 8% Discount Rate

$ billion

3.01

After-tax IRR

%

17.1

RESOURCE AND RESERVES

The Mineral Resource and Reserve Estimates for the Project were updated for the Feasibility Study and built using geologic data and 1,318 lithium assays from 45 core holes drilled between 2017 and 2022. The constrained Measured and Indicated Resource Estimate is 1,207.33 Mt with an average grade of 957 ppm lithium and contains 1.155 Mt of Li or 6.148 Mt of LCE. The Proven and Probable Mineral Reserve Estimate was derived from the constrained Mineral Resources and contains 287.65 Mt with an average grade of 1,149 ppm lithium and contains 0.330 Mt of Li or 1.759 Mt of LCE and reflects an increase of 74.6 Mt and 0.48 Mt LCE compared to the 2021 Mineral Reserve Estimate. The Mineral Resources were generated with a pit shell that encompasses all mineralized material within the Property excluding all areas that will be used for Project infrastructure and placement of tailings, waste, and low-grade material.

Mineral Resource Estimate

Domain

Tonnes Above 

Cut-off (millions)

Li Grade (ppm)

Li Contained 

(million t)

LCE (million t)

Measured

858.38

990

0.849

4.524

Indicated

348.95

875

0.305

1.625

Measured & Indicated

1,207.33

957

1.155

6.148

Inferred

119.03

827

0.098

0.524

The effective date of the Mineral Resource Estimate is December 15, 2022. The QP for the estimate is Ms. Terre Lane, MMSA, an employee of GRE and independent of Century. The Mineral Resources are constrained by a pit shell with a 200 ppm Li cut-off and density of 1.505 g/cm3. The cut-off grade considers an operating cost of $16.90/t mill feed, process recovery of 83% and a long-term lithium carbonate price of $20,000/t. The Mineral Resource estimate was prepared in accordance with CIM Definition Standards (CIM, 2014) and the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (CIM, 2019). Mineral Resource figures were rounded. One tonne of lithium = 5.323 tonnes lithium carbonate. Mineral Resources are inclusive of Mineral Reserves.

Mineral Reserve Estimate

Domain

Tonnes Above Cut-

off (millions)

Li Grade (ppm)

Li Contained

(million t)

LCE (million t)

Proven

266.39

1,147

0.306

1.626

Probable

21.26

1,174

0.025

0.133

Proven & Probable 

287.65

1,149

0.330

1.759

The effective date of the Mineral Reserve Estimate is December 15, 2022. The QP for the estimate is Ms. Terre Lane, MMSA, an employee of GRE and independent of Century. The Mineral Reserve estimate was prepared in accordance with CIM) Definition Standards (CIM, 2014) and the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (CIM, 2019). Mineral Reserves are reported within the final pit design at a mining cut-off of 900 ppm. The cut-off grade considers a mine operating cost of $1.98/t, a process operating cost of $14.27/t milled, a G&A cost of $0.65/t milled, process recovery of 83% and a long-term lithium carbonate price of $20,000/t. The cut-off of 900 ppm is an elevated cut-off selected for the mine production schedule as the elevated cutoff is 4.5 times higher than the break-even cut-off grade. Mineral Reserve figures have been rounded. One tonne of lithium = 5.323 tonnes lithium carbonate. Mineral Resources are inclusive of Mineral Reserves.

PROCESS METALLURGY & CHLOR-ALKALI PLANT

Metallurgical testing through 2020 focused on using sulfuric acid (H2SO4) to extract lithium from the clay. In late 2020, testing shifted to hydrochloric acid (HCl) for its improved compatibility with the deposit's chemistry. These benefits included higher lithium extractions, lower reagent consumptions, significantly better filtration of solids, and the ability to utilize certain DLE technologies in the recovery and concentration of lithium from the leach solutions.

A key component of the Project with chloride-based leaching is a chlor-alkali plant. The chlor-alkali plant provides the ability to produce the key reagents HCl and NaOH on-site from the electrolysis of a sodium chloride (NaCl) solution. A chlor-alkali plant represents a greater capital investment relative to that of a sulfuric acid plant but has important environmental and economic benefits for the sustainability of the Project. These benefits include replacing the purchase and transportation of sulfur with regionally sourced salt, and a reduction in emissions and the physical footprint of the operation with dryer, non-sulfate tailings.

Additionally, the chlor-alkali plant will generate significant quantities of NaOH surplus to the Project's operational needs and therefore available for sale. The chlor-alkali plant will utilize modern electrochemical cell technology thereby producing membrane grade sodium hydroxide without the energy consumption and environmental problems of older technologies. The surplus amounts of NaOH are inherent to the operation of the plant and the sales represent a significant offset to the Project's operating costs.

PILOT PLANT

In 2021, Century Lithium constructed a Pilot Plant in Nevada to leach one tonne per day of lithium clay and produce a high-grade lithium chloride solution which is processed off-site at Saltworks Technologies, Inc. (Saltworks), at their Richmond, British Columbia processing plant to make battery-quality Li2CO3. To maximize lithium recovery, the Company purchased the license rights and pilot-stage equipment to DLE an ion-exchange-based process and incorporated it into the Pilot Plant. The DLE license is held in perpetuity and royalty free by the Project.

Throughout its Pilot Plant program, the Company has sought improvement in its process methods. The Company obtained a provisional patent in 2023 with the U.S. Patent and Trademark Office, U.S. Department of Commerce. The provisional patent is titled System and Method for Extracting Lithium from Clay and Other Materials in a Chloride Solution Using Individualized Pretreatments. The patent pending process encompasses the Company's flowsheet and protects its methods of leaching lithium-bearing solids and handling solutions, precipitates, and residues.

LITHIUM EXTRACTION, RECOVERY & Li2CO3 PRODUCTION

A lithium recovery of 78% is used in the Feasibility Study, based on the data collected in over two years of operations at the Pilot Pant.

  • Feed material grades averaged 1,100 ppm
     
  • Leach solution samples varied from 200 to 320 ppm Li
     
  • Lithium extractions averaged 88% and varied from 80 to 95%
     
  • DLE lithium recoveries were typically above 90%
     
  • 10% of the lithium in solution is retained in the moisture remaining in the tailings

Extraction rates do not account for losses downstream and are only indicative of the potential overall recovery. Work at the Pilot Plant continues to focus on reducing losses of lithium to tailings. A small loss of lithium from processing the DLE product solutions into Li2CO3, and the recycling of process solutions to the DLE and leach areas is anticipated.

During 2022 and 2023, Saltworks processed the DLE product solutions from the Pilot Plant and made battery-quality Li2CO3 at greater than 99.5% purity. Modifications at the Pilot Plant in mid-2023 increased lithium solution grades to over 14 grams per liter which simplified the flowsheet and eliminated the evaporation stage for production of Li2CO3.

PRODUCTION PLAN

The Project's production plan comprises three equal phases of production rate increases, Phase 1 and Phase 2 production rates are maintained over five years each and Phase 3 is maintained for 30 years. This approach was selected to reduce capital exposure and risk by dividing the Project's production schedule into realistic phases of construction and equipment installation. The plan fully utilizes the Project's Mineral Reserve.

Phase 1 includes all work required to implement the Initial Project Plan including all necessary mining and processing infrastructure. The Phase 2 cost estimate focuses on an expansion within the footprint of Phase 1. Phase 3 development includes an additional processing plant and facilities not built in the previous phases and allows for a fourth phase of expansion.

LITHIUM CARBONATE AND SODIUM HYDROXIDE SALES PRICES

A price of $24,000/t of Li2CO3 is used in the Feasibility Study as the Project base case. This price is selected as a conservative mid-point between current market prices which are under $20,000/t Li2CO3 and forecast prices obtained from Benchmark Mineral Intelligence which are in the range of $23,000 to $39,000/t Li2CO3 during Phase 1 and $29,000 to $31,000/t Li2CO3 thereafter (Benchmark Mineral Intelligence, Lithium Forecast Q1 2024). The sales price is free on board (FOB) the Project site for battery quality Li2CO3.

NaOH is a product of the chlor-alkali process and a sales price of $600/dmt FOB the Project is used in the Feasibility Study as the Project base case. Based on the material mass balance, it is expected that surplus NaOH will be available for sale at rates of 120,000 to 360,000 dmt per annum, depending on Project Phase. This price is based on a February 2023 market study by Global Exchange and Trading, Inc. where it was determined the Project's surplus NaOH can be readily sold in the western U.S. which currently relies heavily on imports arriving at west coast ports.

CAPITAL COST ESTIMATE

The basis for the capital cost estimate follows AACE Class 3 for feasibility studies. Contributors to the estimates are GRE (mining), Wood (process plant and infrastructure), ThyssenKrupp Nucera (chlor-alkali plant) and Century Lithium (property information and owners' costs). The capital cost estimates by phase are summarized as follows.

Installed Capital Costs

Initial

Phase 1 ($M)

Expansion

Phase 2 ($M)

Expansion

Phase 3 ($M)

Mining & Site Preparation

$64

$7

$27

Process Facilities

$517

$205

$477

Chlor-Alkali Plant 

$496

$336

$496

Buildings, Services & Infrastructure

$130

$5

$42

Indirect & Owners Costs 

$234

$72

$190

Contingency

$96

$27

$105

Total Capital Cost

$1,537

$651

$1,336

Notes: Totals may not sum due to rounding, Contingency and site Indirects for chlor-alkali plant is included in the Chlor-Alkali Plant line item, contingency for mining is included in the Contingency line item, indirect costs for mining are not included in the Indirects and Owner's Costs line item

The Phase 2 capital costs represent the expansion of the process facilities and infrastructure established in Phase 1. The Phase 3 capital costs support an additional processing plant and facilities not built in the previous phases. In the Project schedule, a 2-year period is allocated for the time to construct and commission each phase.

Sustaining capital over the life of the Project is estimated at $315 million for tailings facility expansion and equipment replacements. These costs are in addition to the expansion capital costs shown above.

OPERATING COST ESTIMATES

The following information highlights the operating cost estimates for each phase in dollars per tonne of Li2CO3, before and after deducting sales of surplus NaOH.

Initial Phase 1

(7,500 tpd mill feed)

$ (000s)/y

$/t mill feed

$/t LCE

Mining

$13,754

$5.43

$1,205

Processing and G&A

$57,515

$21.01

$4,428

Chlor-Alkali Plant

$61,787

$22.57

$4,757

Total Operating Cost

$133,056

$49.01

$10,390

Less NaOH Sales (FOB mine)

$78,272

$28.95

$6,026

Net Operating Cost

$54,784

$20.06

$4,364

Note: Totals may not sum due to rounding

Expansion Phase 2

(15,000 tpd mill feed)

$ (000s)/y

$/t mill feed

$/t LCE

Mining 

$24,901

$4.26

$766

Processing and G&A

$82,018

$14.98

$3,157

Chlor-Alkali Plant

$105,138

$19.20

$4,047

Total Operating Cost

$212,057

$38.44

$7,970

Less NaOH Sales (FOB mine)

$142,350

$26.00

$5,479

Net Operating Cost

$69,707

$12.44

$2,491

Note: Totals may not sum due to rounding

Expansion Phase 3 

(22,500 tpd mill feed)

$ (000s)/y

$/t mill feed

$/t LCE

Mining

$22,064

$2.70

$561

Processing and G&A

$119,945

$14.60

$3,078

Chlor-Alkali Plant

$151,325

$18.43

$3,884

Total Operating Cost

$293,334

$35.73

$7,523

Less NaOH Sales (FOB mine)

$213,525

$25.99

$5,479

Net Operating Cost

$79,809

$9.74

$2,044

Note: Totals may not sum due to rounding

ECONOMIC MODEL AND SENSITIVITY

The cash flow model is developed using base prices of $24,000/t for Li2CO3 and $600/dmt for NaOH.

Average Annual Values

Units

Initial

Phase 1

Expansion

Phase 2

Expansion

Phase 3

Li2CO3 Sales 

t

11,885

26,753

39,098

NaOH Sales 

dmt

130,488

237,250

355,875

Gross Sales 

$ million

$282.4

$635.7

$929.0

Before-tax Cash Flow 

$ million

$231.3

$553.3

$825.3

Lithium carbonate sales are the average over each Phase including ramp up to the stated production rate.  Gross sales are revenues from Li2CO3 and NaOH sales are before operating costs and after royalty. Before-tax Cash Flow is gross sales minus operating costs. Taxes are applied at federal, state and county rates after allowances for amortization, depletion, and depreciation only. Possible tax credits under the U.S. Inflation Reduction Act or other programs are not included.

The Project base case generates a 17.1% after-tax IRR and NPV-8% of $3.01 billion. These results are sensitive to changes in operating assumptions including the sales price of Li2CO3.

  • At 75% of the base case, or $18,000/t LCE, the after-tax NPV@ 8% is $1.52 billion, and the after-tax IRR is 12.9%.
     
  • At 125% of the base case, or $30,000/t LCE, the after-tax NPV@ 8% is $4.47 billion, and the after-tax IRR is 20.9%.
     
  • For every $1,000/t change in the price of lithium carbonate, the after-tax NPV@8% changes by about $250 million.

Project Sensitivity

Units

75 %

Base Case

125 %

Lithium Price

$/t LCE

$18,000

$24,000

$30,000

NPV-8% 

$ billion

$1.52

$3.01

$4.47

IRR

%

12.9

17.1

20.9

PROJECT ADVANCEMENT

The Company has completed multiple environmental studies in advance of permitting and is examining ways to optimize power requirements and incorporate alternative energy solutions.

The recommendations of the FS include continuing the permitting process, engaging with governmental agencies and other parties, and proceeding with detailed engineering to further advance the Project.

Among these steps, the Company has contacted the U.S. Department of Energy's (DOE) Loan Programs Office (LPO) and plans to initiate the pre-application process under the Title Seven Clean Energy Financing program when the Feasibility Study report is complete.

Century Lithium | centurylithium.com 

 

Apr 29, 2024
Post Nasdaq Listing SolarBank Provides Update on Recent Progress

SolarBank Corporation (Nasdaq: SUUN) (Cboe CA: SUNN) (FSE: GY2) ("SolarBank" or the "Company") is pleased to provide an update on its significant progress during the first part of 2024.

Major Highlights

  • The Company began trading on the Nasdaq Global Market on April 8, 2024. The Nasdaq Stock Market has three distinctive tiers: The Nasdaq Global Select Market®, The Nasdaq Global Market® and The Nasdaq Capital Market®. Applicants must satisfy certain financial, liquidity and corporate governance requirements to be approved for listing on any of these market tiers. SolarBank has qualified under the Nasdaq Global Market® tier, which has the second highest eligibility requirements.
  • $41 million USD transaction with Honeywell International Inc. ("Honeywell") sees mechanical completion reached on the SB-1, SB-2 and SB-3 Community Solar Projects acquired by Honeywell. The projects are being constructed under an engineering, procurement, and construction ("EPC") Contract with SolarBank. SolarBank also expects that it will retain an operations and maintenance contract for the projects following the completion of construction.
  • Cboe Canada stock exchange lists SolarBank for trading on February 14, 2024. In North America, Cboe's U.S. and Canadian equities trading venues handle over $67 billion USD combined in average daily notional value (ADNV).
  • The Company has commenced construction on a 1.4 MW DC rooftop solar project for Fiera Real Estate ("Fiera") in Alberta as a pilot project. Fiera Real Estate is a leading investment management company that globally manages over $7.0 billion USD of commercial real estate through a range of investment funds and accounts as at December 31, 2023. The project represents SolarBank's first construction project for Fiera, with more expected in the future.

Other Operational Highlights

  • January 2024: 3.7 MW DC/500 Homes - SolarBank has completed mechanical construction on the 3.7 MW DC Geddes project that is being developed by the Company in Geddes, New York. The next step is completion of final electrical work and acceptance testing. The project is expected to become operational during the second quarter of 2024 and is expected to provide green energy to 500 homes once operational. Subject to receipt of financing, the Company intends to own and operate the Geddes project.
  • January 2024: 14 MW DC/1600 Homes - SolarBank executed a lease agreement on a site in Greenville, New York. SolarBank intends to develop two 7 MW DC (14 MW DC total) ground-mount solar power projects on the site. Expected to operate as a community solar site, selling credits to subscribers. 1,600 homes are expected to receive green energy once the system is operational. The projects are expected to be eligible for incentives under the New York State Energy Research and Development Authority ("NYSERDA") NY-Sun Program.
  • January 2024: 3 MW DC/350 Homes - SolarBank executed a lease agreement on a 15 acre site in Nassau, New York. SolarBank intends to develop a 3 MW DC ground-mount solar power project on the site. Expected to operate as a community solar site, selling credits to subscribers. 350 homes are expected to receive green energy once the system is operational. The Project is expected to be eligible for incentives under the NYSERDA NY-Sun Program.
  • February 2024: 19.3 MW DC/2,260 Homes - SolarBank executed lease agreements on two closed landfill sites located in Skaneateles, New York and Lewiston, New York. The Company intends to develop three ground-mount community solar projects across the two sites with a capacity of 19.3 MW DC. Expected to operate as a community solar site, selling credits to subscribers. 2,260 homes are expected to receive green energy once the system is operational. The Company's subsidiary was the successful proponent in an RFP from the private owner of the sites. The projects are expected to be eligible for incentives under the NYSERDA NY-Sun Program.
  • February 2024: SolarBank reported its second quarter results including revenue of $26.3 million, net income of $2.0 million and net income of $0.08 per share (undiluted). Reaffirmed revenue guidance of $45 million to $50 million for the full fiscal year ended June 30, 2024.
  • February 2024: SolarBank appointed Chelsea L. Nickles to its Board of Directors as an independent director. Ms. Nickles is a renewable energy professional with more than 20 years of experience contributing to a net zero world. For nearly the past decade, Ms. Nickles has been focusing on developing offshore wind projects in multiple jurisdictions with Ørsted, the global leader in offshore wind. Ms. Nickels currently holds the title of Director with Ørsted and also serves as a director for several offshore wind companies where she helps to steer their success.
  • April 2024: 3.15 MW DC/360 Homes - SolarBank closed its previously announced acquisition from Storke Renewables, LLC of a development stage solar project located in the Town of Camillus, New York on a closed landfill. SolarBank intends to develop a 3.15 MW DC ground-mount solar power project on the site that will operate as a community solar project. 360 homes are expected to receive green energy once the system is operational. The project is expected to be eligible for incentives under the NYSERDA NY-Sun Program.
  • April 2024: 31 MW/4,000 Homes - SolarBank partnered with TriMac Engineering of Sydney, Nova Scotia to develop a 10 MW DC community solar garden in the rural community of Enon, Nova Scotia, and three 7 MW DC projects in Sydney, Halifax and Annapolis, Nova Scotia respectively (the "Projects"). The Projects are being developed under a Community Solar Program that was announced by the Government of Nova Scotia on March 1, 2024 and owned by AI Renewable Fund. 4,000 homes are expected to receive green energy once the system is operational.

SolarBank | www.solarbankcorp.com

 

Apr 29, 2024
ERCOT Innovation Summit Keynote Speaker Announced, Limited Seats Available

The Electric Reliability Council of Texas (ERCOT) announced that Dr. Steven Ashby, director of the Department of Energy’s Pacific Northwest National Laboratory (PNNL), will deliver the keynote address at the ERCOT Innovation Summit on May 21. 

Dr. Ashby sets PNNL’s strategic direction, and, under his leadership, PNNL’s staff members draw on signature capabilities in chemistry, earth sciences, biology, and data science to advance scientific discovery, enable energy sustainability, and enhance national security.

“I am excited to join colleagues at the Innovation Summit to explore how the power of innovation will bolster the reliability, resiliency, and security of the power grid in Texas and across the country,” said Dr. Ashby. “Dialogues such as these drive the new insights, synergies, and collaborations foundational to our collective efforts to modernize the electric grid.”

The Innovation Summit is a signature event for industry stakeholders to collaborate, discuss, and share knowledge on innovative solutions to address the impacts of grid transformation.

“We are honored to have Dr. Ashby join the Summit and share his insights on cutting-edge research and innovation vital to managing the complexities of a rapidly changing grid,” said ERCOT President and CEO Pablo Vegas. “The Summit will also be an invaluable opportunity for participants to engage in thoughtful panel discussions with industry leaders and experts.”

Limited seats are available for in-person attendance. Register to attend the Summit in person.

ERCOT Innovation Summit Panels

Essential Reliability Services. Moderator Fred Huang, ERCOT Director of Operations Support, will discuss impacts to the essential reliability services from rapid grid transformation with panelists from Energy System Integration Group, Electric Power Research Institute, and California ISO.

Demand Flexibility. Moderator Dave Maggio, ERCOT Principal of Commercial Operations, and representatives from Octopus Energy, Texas A&M University, PJM, and Tesla will focus oninnovations around engaging end-use customers and harnessing their flexibility to support the grid. This will include virtual power plant participation, similar to the Aggregate Distributed Energy Resource pilot current underway in ERCOT.

Energy Storage. Moderator Kenneth Ragsdale, ERCOT Principal of Market Design and Analysis, will talk with panelists from Electric Power Research Institute, Form Energy, and California ISO about the integration challenges and opportunities for energy storage resources as they evolve and as the grid transformation continues.

Uncertainty Management. Moderator Jeff Billo, ERCOT Director of Operations Planning, will lead a panel with representatives from SPP, MISO, and California ISO exploring operating practices and innovations regarding increasing grid variability and uncertainty.

Transmission Planning Challenges. Moderator Prabhu Gnanam, ERCOT Director of Planning, will chat with professionals from AEP, Texas A&M University, and SPP about the rapidly evolving grid and associated uncertainty for future planning.

Technology. Moderator Ajay Mannepalli, ERCOT Director of IT Architecture and Strategy, will join panelists from AWS, Microsoft, GE, and Siemens to discuss innovations around cloud computing, data and analytics, and AI/ML, and what vendors are doing in this space to harness these capabilities for the future of the energy grid.

Register to watch the Innovation Summit online. Visit www.ercot.com/summit for speaker bios, panel sessions, FAQs, and general information.

Apr 29, 2024
AtkinsRéalis Awarded Master Service Agreement for Program Management and Owners Engineering Services by Avangrid Networks

AtkinsRéalis [SNC-Lavalin Group Inc.] (TSX: ATRL), a fully integrated professional services and project management company with offices around the world, announces that it has been awarded a multi-year Master Service Agreement (MSA) for Project Management Office (PMO) and Owners Engineering (OE) Services in the northeastern United States byAvangrid Networks, a subsidiary of leading sustainable energy company Avangrid Inc. (NYSE: AGR.) AtkinsRéalis has provided Avangrid with similar services under multiple agreements during the last eleven years.

“We are committed to delivering technology-based solutions to support the energy transition so future generations can reap the benefits of a more sustainable, low carbon world,” said Ian L. Edwards, President and Chief Executive Officer, AtkinsRéalis. “As a trusted delivery partner for clients around the world, we bring reliability, stability, security and automation to the modern-day power grid through assets that meet the needs of the changing energy landscape.”

Under the MSA, AtkinsRéalis will provide engineering support and manage planning, controlling, permitting, environmental studies, public communications, field construction management, procurement, construction, commissioning and other services for Avangrid’sextensive capital expenditure (CAPEX) projects. The services will be provided to four electric utilities or operating companies/property companies (OPCO/PROPCO): Rochester Gas and Electric (RG&E), New York State Electric and Gas Company (NYSEG), Central Maine Power (CMP), and United Illuminating (UI). 

“Our longstanding relationship with Avangrid combined with our time-tested methods, techniques and processes uniquely positions us to continue to successfully deliver on the company’s business objectives,” said Steve Morriss, President, U.S., Latin America, and Minerals & Metals, AtkinsRéalis. “We have a strong understanding of project scopes, constraints and timelines, which enables us to drive cost efficiency and produce value from our client’s investments.”

AtkinsRéalis has a proven track record of working with leading electric utilities and industrial companies throughout the northeastern United States and across North America, completing similar programs worth US$20 billion during the last ten years. The Company previously supplied capital project OE services to Avangrid for operating companies RGE and NYSEG. AtkinsRéalis has provided operating companies CMP, NYSEG, RGE and UI with capital project PMO services through contracts with Avangrid in the past as well.

AtkinsRéalis | www.atkinsrealis.com 

 

Apr 29, 2024
Nexamp Launches Fellowship Program in Chicago to Make Renewable Energy Careers More Accessible

Nexamp, the nation’s largest community solar company, has just launched a new fellowship program in partnership with the City Colleges of Chicago that is designed to create opportunities for underserved or underrepresented populations to gain exposure to the many rewarding career opportunities in the renewable energy field. The company, which recently announced that its Chicago office would serve as its second national headquarters as it invests more than $2 billion in the region to expand clean energy, is delivering on its commitment to job creation and local impact.

people at desks

The first cohort of fellows, which includes students from Olive-Harvey College and graduates from the Chicago Urban League’s solar energy jobs training program, began the eight-week program in mid-April, participating in a combination of in-office and on-the-job training in areas such as solar technology, construction, project management, IT, supply chain, safety, inspection, office skills, interviewing, and much more. Having already expressed their interest in the renewable energy field, fellows will explore a variety of opportunities with the goal of determining which Nexamp role or industry position is the one they feel is the best fit and would most like to pursue.

“As leaders in the energy transition, we feel a responsibility to ensure that the opportunities created are available equally to all,” notes Marion Jones, Vice President of Workforce Development and DEIJ Engagement, Nexamp. “Our company is built on the mission of making clean energy simple and accessible, and that extends right through to the jobs created. Giving people with an interest in this space a chance to gain the skills necessary for success will benefit the industry as a whole and we are grateful to City Colleges of Chicago for collaborating with us.”

Participants will attend training at Nexamp’s downtown office two days a week for four hours each day, receiving professional development and mentorship from industry leaders while building connections with other fellows. Training includes both classroom time and numerous site visits where fellows will engage in typical field tasks. This interactive and highly collaborative program also enables fellows to earn industry-recognized certifications while simultaneously preparing them for post-fellowship job opportunities through the included job-readiness sessions.

“This fellowship program is a powerful complement to the academic offerings at Olive-Harvey College, enabling students to gain real-world experience in a rapidly growing field,” says Dr. Kimberly Hollingsworth, President of Olive-Harvey College. “In this program they are developing critical career skills and forming connections that will bolster their success in the near future. City Colleges is looking forward to expanding this to all of the colleges.” 

“For our students coming out of the Solar Energy Jobs Training program, which is focused on classroom and lab activities, being able to step into the daily operations of a leading real-world solar company adds tremendous value. It’s a perfect bridge that helps them apply what they’ve learned and make important connections as they consider where they might fit in the industry,” explains Andrew Wells, Vice President of Workforce Development at the Chicago Urban League.

Fellows receive hourly compensation during the 8-week program and priority consideration for open positions at Nexamp upon completion. Nexamp will be welcoming the next cohort in Chicago next month and plans to expand this model to its other offices across the country. 

For more information about the fellowship program, email [email protected].

Nexamp | www.nexamp.com 

Chicago Urban League | www.chiul.org

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Alternative Energies May 15, 2023

Mobilizing to Win

The United States is slow to anger, but relentlessly seeks victory once it enters a struggle, throwing all its resources into the conflict. “When we go to war, we should have a purpose that our people understand and support,” as former Secretary ....

Alternative Energies Jun 26, 2023
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Investing in the Future: Mobilizing capital and partnerships for a sustainable energy transition

Unleashing trillions of dollars for a resilient energy future is within our grasp — if we can successfully navigate investment risk and project uncertainties.

The money is there — so where are the projects?

A cleaner and more secure energy future will depend on tapping trillions of dollars of capital. The need to mobilize money and markets to enable the energy transition was one of the key findings of one of the largest studies ever conducted among the global energy sector C-suite. This will mean finding ways to reduce the barriers and uncertainties that prevent money from flowing into the projects and technologies that will transform the energy system. It will also mean fostering greater collaboration and alignment among key players in the energy space.

stocksInterestingly, the study found that insufficient access to finance was not considered the primary cause of the current global energy crisis. In fact, capital was seen to be available — but not being unlocked. Why is that? The answer lies in the differing risk profiles of energy transition investments around the world. These risks manifest in multiple ways, including uncertainties relating to project planning, public education, stakeholder engagement, permitting, approvals, policy at national and local levels, funding and incentives, technology availability, and supply chains.

These risks need to be addressed to create more appealing investment opportunities for both public and private sector funders. This will require smart policy and regulatory frameworks that drive returns from long-term investment into energy infrastructure. It will also require investors to recognize that resilient energy infrastructure is more than an ESG play — it is a smart investment in the context of doing business in the 21st century.

Make de-risking investment profiles a number one priority

According to the study, 80 percent of respondents believe the lack of capital being deployed to accelerate the transition is the primary barrier to building the infrastructure required to improve energy security. At the same time, investors are looking for opportunities to invest in infrastructure that meets ESG and sustainability criteria. This suggests an imbalance between the supply and demand of capital for energy transition projects.

How can we close the gap?

One way is to link investors directly to energy companies. Not only would this enable true collaboration and non-traditional partnerships, but it would change the way project financing is conceived and structured — ultimately aiding in potentially satisfying the risk appetite of latent but hugely influential investors, such as pension funds. The current mismatch of investor appetite and investable projects reveals a need for improving risk profiles, as well as a mindset shift towards how we bring investment and developer stakeholders together for mutual benefit. The circular dilemma remains: one sector is looking for capital to undertake projects within their skill to deploy, while another sector wonders where the investable projects are.

This conflict is being played out around the world; promising project announcements are made, only to be followed by slow progress (or no action at all). This inertia results when risks are compounded and poorly understood. To encourage collaboration between project developers and investors with an ESG focus, more attractive investment opportunities can be created by pulling several levers: public and private investment strategies, green bonds and other sustainable finance instruments, and innovative financing models such as impact investing.

sunset

Expedite permitting to speed the adoption of new technologies

Another effective strategy to de-risk investment profiles is found in leveraging new technologies and approaches that reduce costs, increase efficiency, and enhance the reliability of energy supply. Research shows that 62 percent of respondents indicated a moderate or significant increase in investment in new and transitional technologies respectively, highlighting the growing interest in innovative solutions to drive the energy transition forward.

Hydrogen, carbon capture and storage, large-scale energy storage, and smart grids are some of the emerging technologies identified by survey respondents as having the greatest potential to transform the energy system and create new investment opportunities. However, these technologies face challenges such as long lag times between conception and implementation. 

If the regulatory environment makes sense, then policy uncertainty is reduced, and the all-important permitting pathways are well understood and can be navigated. Currently, the lack of clear, timely, and fit-for-purpose permitting is a major roadblock to the energy transition. To truly unleash the potential of transitional technologies requires the acceleration of regulatory systems that better respond to the nuance and complexity of such technologies (rather than the current one-size-fits all approach). In addition, permitting processes must also be expedited to dramatically decrease the period between innovation, commercialization, and implementation. One of the key elements of faster permitting is effective consultation with stakeholders and engagement with communities where these projects will be housed for decades. This is a highly complex area that requires both technical and communication skills.

The power of collaboration, consistency, and systems thinking

The report also reveals the need for greater collaboration among companies in the energy space to build a more resilient system. The report shows that, in achieving net zero, there is a near-equal split between those increasing investment (47 percent of respondents), and those decreasing investment (39 percent of respondents). This illustrates the complexity and diversity of the system around the world. A more resilient system will require all its components – goals and actions – to be aligned towards a common outcome.

Another way to de-risk the energy transition is to establish consistent, transparent, and supportive policy frameworks that encourage investment and drive technological innovation. The energy transition depends on policy to guide its direction and speed by affecting how investors feel and how the markets behave. However, inconsistent or inadequate policy can also be a source of uncertainty and instability. For example, shifting political priorities, conflicting international standards, and the lack of market-based mechanisms can hinder the deployment of sustainable technologies, resulting in a reluctance to commit resources to long-term projects.

electric little car

Variations in country-to-country deployment creates disparities in energy transition progress. For instance, the 2022 Inflation Reduction Act in the US has posed challenges for the rest of the world, by potentially channeling energy transition investment away from other markets and into the US. This highlights the need for a globally unified approach to energy policy that balances various national interests while addressing a global problem.

To facilitate the energy transition, it is imperative to establish stable, cohesive, and forward-looking policies that align with global goals and standards. By harmonizing international standards, and providing clear and consistent signals, governments and policymakers can generate investor confidence, helping to foster a robust energy ecosystem that propels the sector forward.

Furthermore, substantive and far-reaching discussions at international events like the United Nations Conference of the Parties (COP), are essential to facilitate this global alignment. These events provide an opportunity to de-risk the energy transition through consistent policy that enables countries to work together, ensuring that the global community can tackle the challenges and opportunities of the energy transition as a united front.

Keeping net-zero ambitions on track

Despite the challenges faced by the energy sector, the latest research reveals a key positive: 91 percent of energy leaders surveyed are working towards achieving net zero. This demonstrates a strong commitment to the transition and clear recognition of its importance. It also emphasizes the need to accelerate our efforts, streamline processes, and reduce barriers to realizing net-zero ambitions — and further underscores the need to de-risk energy transition investment by removing uncertainties.

The solution is collaborating and harmonizing our goals with the main players in the energy sector across the private and public sectors, while establishing consistent, transparent, and supportive policy frameworks that encourage investment and drive technological innovation.

These tasks, while daunting, are achievable. They require vision, leadership, and action from all stakeholders involved. By adopting a new mindset about how we participate in the energy system and what our obligations are, we can stimulate the rapid progress needed on the road to net zero.

 

Dr. Tej Gidda (Ph.D., M.Sc., BSc Eng) is an educator and engineer with over 20 years of experience in the energy and environmental fields. As GHD Global Leader – Future Energy, Tej is passionate about moving society along the path towards a future of secure, reliable, and affordable low-carbon energy. His focus is on helping public and private sector clients set and deliver on decarbonization goals in order to achieve long-lasting positive change for customers, communities, and the climate. Tej enjoys fostering the next generation of clean energy champions as an Adjunct Professor at the University of Waterloo Department of Civil and Environmental Engineering.

GHD | www.ghd.com

Dr. Tej Gidda

Wind Sep 15, 2023
6 min read
Lessons Learned: The first case of heavy maintenance on floating wind

The Kincardine floating wind farm, located off the east coast of Scotland, was a landmark development: the first commercial-scale project of its kind in the UK sector. Therefore, it has been closely watched by the industry throughout its installation. With two of the turbines now having gone through heavy maintenance, it has also provided valuable lessons into the O&M processes of floating wind projects. 

In late May, the second floating wind turbine from the five-turbine development arrived in the port of Massvlakte, Rotterdam, for maintenance. An Anchor Handling Tug Supply (AHTS)

vessel was used to deliver the KIN-02 turbine two weeks after a Platform Supply Vessel (PSV) and AHTS had worked to disconnect the turbine from the wind farm site. The towing vessel became the third vessel used in the operation.

This is not the first turbine disconnected from the site and towed for maintenance. In the summer of 2022, KIN-03 became the world’s first-ever floating wind turbine that required heavy maintenance (i.e. being disconnected and towed for repair). It was also towed from Scotland to Massvlakte. 

Each of these operations has provided valuable lessons for the ever-watchful industry in how to navigate the complexities of heavy maintenance in floating wind as the market segment grows. 

floating yellow

The heavy maintenance process

When one of Kincardine’s five floating 9.5 MW turbines (KIN-03) suffered a technical failure in May 2022, a major technical component needed to be replaced. The heavy maintenance strategy selected by the developer and the offshore contractors consisted in disconnecting and towing the turbine and its floater to Rotterdam for maintenance, followed by a return tow and re-connection. All of the infrastructure, such as crane and tower access, remained at the quay following the construction phase. (Note, the following analysis only covers KIN-03, as details of the second turbine operation are not yet available). 

Comparing the net vessel days for both the maintenance and the installation campaigns at this project highlights how using a dedicated marine spread can positively impact operations. 

For this first-ever operation, a total of 17.2 net vessel days were required during turbine reconnection—only a slight increase on the 14.6 net vessel days that were required for the first hook-up operation performed during the initial installation in 2021. However, it exceeds the average of eight net vessel days during installation. The marine spread used in the heavy maintenance operation differed from that used during installation. Due to this, it did not benefit from the learning curve and experience gained throughout the initial installation, which ultimately led to the lower average vessel days.

The array cable re-connection operation encountered a similar effect. The process was performed by one AHTS that spent 10 net vessel days on the operation. This compares to the installation campaign, where the array cable second-end pull-in lasted a maximum of 23.7 hours using a cable layer.

Overall, the turbine shutdown duration can be broken up as 14 days at the quay for maintenance, 52 days from turbine disconnection to turbine reconnection, and 94 days from disconnection to the end of post-reconnection activities. 

offshore

What developers should keep in mind for heavy maintenance operations

This analysis has uncovered two main lessons developers should consider when planning a floating wind project: the need to identify an appropriate O&M port, and to guarantee that a secure fleet is available. ‍

  • Identification of the O&M port

Floating wind O&M operations require a port with both sufficient room and a deep-water quay. The port must also be equipped with a heavy crane with sufficient tip height to accommodate large floaters and reach turbine elevation. Distance to the wind farm should also be taken into account, as shorter distances will reduce towing time and, therefore, minimize transit and non-productive turbine time. 

During the heavy maintenance period for KIN-03 and KIN-02, the selected quay (which had also been utilized in the initial installation phase of the wind farm project), was already busy as a marshalling area for other North Sea projects. This complicated the schedule significantly, as the availability of the quay and its facilities had to be navigated alongside these other projects. This highlights the importance of abundant quay availability both for installation (long-term planning) and maintenance that may be needed on short notice. ‍

  • A secure fleet

At the time of the first turbine’s maintenance program (June 2022), the North Sea AHTS market was in an exceptional situation: the largest bollard pull AHTS units contracted at over $200,000 a day, the highest rate in over a decade. 

During this time, the spot market was close to selling out due to medium-term commitments, alongside the demand for high bollard pull vessels for the installation phase at a Norwegian floating wind farm project. The Norwegian project required the use of four AHTS above a 200t bollard pull. With spot rates ranging from $63,000 to $210,000 for the vessels contracted for Kincardine’s maintenance, the total cost of the marine spread used in the first repair campaign was more than $4 million.

Developers should therefore consider the need to structure maintenance contracts with AHTS companies, either through frame agreements or long-term charters, to decrease their exposure to spot market day rates as the market tightens in the future.

yellow and blue

While these lessons are relevant for floating wind developers now, new players are looking towards alternative heavy O&M maintenance options for the future. Two crane concepts are especially relevant in this instance. The first method is for a crane to be included in the turbine nacelle to be able to directly lift the component which requires repair from the floater, as is currently seen on onshore turbines. This method is already employed in onshore turbines and could be applicable for offshore. The second method is self-elevating cranes with several such solutions already in development.

The heavy maintenance operations conducted on floating turbines at the Kincardine wind farm have provided invaluable insights for industry players, especially developers. The complex process of disconnecting and towing turbines for repairs highlights the need for meticulous planning and exploration of alternative maintenance strategies, some of which are already in the pipeline. As the industry evolves, careful consideration of ports, and securing fleet contracts, will be crucial in driving efficient and cost-effective O&M practices for the floating wind market. 

 

Sarah McLean is Market Research Analyst at Spinergie, a maritime technology company specializing in emission, vessel performance, and operation optimization.

Spinergie | www.spinergie.com

Sarah Mclean

Alternative Energies Jul 15, 2023
7 min read
Choosing the Right Partner Mitigates Project Risk

According to the Energy Information Administration (EIA), developers plan to add 54.5 gigawatts (GW) of new utility-scale electric generating capacity to the U.S. power grid in 2023. More than half of this capacity will be solar. Wind power and battery storage are expected to account for roughly 11 percent and 17 percent, respectively.

A large percentage of new installations are being developed in areas that are prone to extreme weather events and natural disasters (e.g., Texas and California), including high wind, tornadoes, hail, flooding, earthquakes, wildfires, etc. With the frequency and severity of many of these events increasing, project developers, asset owners, and tax equity partners are under growing pressure to better understand and mitigate risk.

chart

Figure 1. The history of billion-dollar disasters in the United States each year from 1980 to 2022 (source: NOAA)

In terms of loss prevention, a Catastrophe (CAT) Modeling Study is the first step to understanding the exposure and potential financial loss from natural hazards or extreme weather events. CAT studies form the foundation for wider risk management strategies, and have significant implications for insurance costs and coverage. 

Despite their importance, developers often view these studies as little more than a formality required for project financing. As a result, they are often conducted late in the development cycle, typically after a site has been selected. However, a strong case can be made for engaging early with an independent third party to perform a more rigorous site-specific technical assessment. Doing so can provide several advantages over traditional assessments conducted by insurance brokerage affiliates, who may not possess the specialty expertise or technical understanding needed to properly apply models or interpret the results they generate. One notable advantage of early-stage catastrophe studies is to help ensure that the range of insurance costs, which can vary from year to year with market forces, are adequately incorporated into the project financial projections. 

The evolving threat of natural disasters

Over the past decade, the financial impact of natural hazard events globally has been almost three trillion dollars. In the U.S. alone, the 10-year average annual cost of natural disaster events exceeding $1 billion increased more than fourfold between the 1980s ($18.4 billion) and the 2010s ($84.5 billion).

forest fire

Investors, insurers, and financiers of renewable projects have taken notice of this trend, and are subsequently adapting their behavior and standards accordingly. In the solar market, for example, insurance premiums increased roughly four-fold from 2019 to 2021. The impetus for this increase can largely be traced back to a severe storm in Texas in 2019, which resulted in an $80 million loss on 13,000 solar panels that were damaged by hail.  

The event awakened the industry to the hazards severe storms present, particularly when it comes to large-scale solar arrays. Since then, the impact of convective weather on existing and planned installations has been more thoroughly evaluated during the underwriting process. However, far less attention has been given to the potential for other natural disasters; events like floods and earthquakes have not yet resulted in large losses and/or claims on renewable projects (including wind farms). The extraordinary and widespread effect of the recent Canadian wildfires may alter this behavior moving forward.

A thorough assessment, starting with a CAT study, is key to quantifying the probability of their occurrence — and estimating potential losses — so that appropriate measures can be taken to mitigate risk. 

All models are not created equal

Industrywide, certain misconceptions persist around the use of CAT models to estimate losses from an extreme weather event or natural disaster. 

submerged cars

Often, the perception is that risk assessors only need a handful of model inputs to arrive at an accurate figure, with the geographic location being the most important variable. While it’s true that many practitioners running models will pre-specify certain project characteristics regardless of the asset’s design (for example, the use of steel moment frames without trackers for all solar arrays in a given region or state), failure to account for even minor details can lead to loss estimates that are off by multiple orders of magnitude. 

The evaluation process has recently become even more complex with the addition of battery energy storage. Relative to standalone solar and wind farms, very little real-world experience and data on the impact of extreme weather events has been accrued on these large-scale storage installations. Such projects require an even greater level of granularity to help ensure that all risks are identified and addressed. 

Even when the most advanced modeling software tools are used (which allow for thousands of lines of inputs), there is still a great deal that is subject to interpretation. If the practitioner does not possess the expertise or technical ability needed to understand the model, the margin for error can increase substantially. Ultimately, this can lead to overpaying for insurance. Worse, you may end up with a policy with insufficient coverage. In both cases, the profitability of the asset is impacted. 

Supplementing CAT studies

In certain instances, it may be necessary to supplement CAT models with an even more detailed analysis of the individual property, equipment, policies, and procedures. In this way, an unbundled risk assessment can be developed that is tailored to the project. Supplemental information (site-specific wind speed studies and hydrological studies, structural assessment, flood maps, etc.) can be considered to adjust vulnerability models.

This provides an added layer of assurance that goes beyond the pre-defined asset descriptions in the software used by traditional studies or assessments. By leveraging expert elicitations, onsite investigations, and rigorous engineering-based methods, it is possible to discretely evaluate asset-specific components as part of the typical financial loss estimate study: this includes Normal Expected Loss (NEL), also known as Scenario Expected Loss (SEL); Probable Maximum Loss (PML), also known as Scenario Upper Loss (SUL); and Probabilistic Loss (PL). 

Understanding the specific vulnerabilities and consequences can afford project stakeholders unique insights into quantifying and prioritizing risks, as well as identifying proper mitigation recommendations. 

Every project is unique

The increasing frequency and severity of natural disasters and extreme weather events globally is placing an added burden on the renewable industry, especially when it comes to project risk assessment and mitigation. Insurers have signaled that insurance may no longer be the main basis for transferring risk; traditional risk management, as well as site and technology selection, must be considered by developers, purchasers, and financiers. 

As one of the first steps in understanding exposure and the potential capital loss from a given event, CAT studies are becoming an increasingly important piece of the risk management puzzle. Developers should treat them as such by engaging early in the project lifecycle with an independent third-party practitioner with the specialty knowledge, tools, and expertise to properly interpret models and quantify risk. 

Hazards and potential losses can vary significantly depending on the project design and the specific location. Every asset should be evaluated rigorously and thoroughly to minimize the margin for error, and maximize profitability over its life.

 

Chris LeBoeuf Chris LeBoeuf is Global Head of the Extreme Loads and Structural Risk division of ABS Group, based in San Antonio, Texas. He leads a team of more than 60 engineers and scientists in the US, UK, and Singapore, specializing in management of risks to structures and equipment related to extreme loading events, including wind, flood, seismic and blast. Chris has more than 20 years of professional experience as an engineering consultant, and is a recognized expert in the study of blast effects and blast analysis, as well as design of buildings. He holds a Bachelor of Science in Civil Engineering from The University of Texas at San Antonio, and is a registered Professional Engineer in 12 states.

ABS Group | www.abs-group.com

 

 

Chris LeBoeuf

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Schneider Electric Releases All-In-One Battery Energy Storage System for Microgrids
Apr 25, 2024

Energy Vault, NV Energy Bring 220MW-440MWh Reid Gardner BESS Project to Commercial Operation
Apr 25, 2024

ChargePoint Releases an Enhanced Integrated Charging Experience for Fleets En-Route and At Home

Alternative Energies

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Articles

Jan 15, 2024
Mind Your Intellectual Property: Strategies for renewable energy leadership

Now more than ever, it would be difficult to overstate the importance of the renewable energy industry. Indeed, it seems that few other industries depend as heavily on constant and rapid innovation. This industry, however, is somewhat unique in its e....

Alternative Energies Nov 15, 2023
4 min read
The Future of Houses is Passive

University of Toronto’s latest student residence welcomes the future of living with spaces that are warmed by laptops and shower water.  In September 2023, one of North America’s largest residential passive homes, Harmony Commons, located....

Justin Biordi

Alternative Energies Nov 15, 2023
5 min read
Demand Response Program Management: Outsourcing vs. in-house

For decades, demand response (DR) has proven a tried-and-true conservation tactic to mitigate energy usage during peak demand hours. Historically, those peak demand hours were relatively predictable, with increases in demand paralleling commuter and ....

Syd Bishop

News Briefs

Apr 29, 2024

Introducing Brillion, an AI-powered, Dynamic and Customer-engagement Application Suite for Utilities
Apr 29, 2024

ERCOT Innovation Summit Keynote Speaker Announced, Limited Seats Available
Apr 29, 2024

AtkinsRéalis Awarded Master Service Agreement for Program Management and Owners Engineering Services by Avangrid Networks
Apr 29, 2024

Robroy Industries Appoints Alex Erwin Business Development Manager for Enclosures Division
Apr 29, 2024

Nuclear Power Generates 17.96% of Electricity in US - the 15th Highest Globally
Apr 29, 2024

New Report Shows Increase in the Number of Businesses Investing in Energy Efficiency, Up 7% from 2022
Apr 29, 2024

Collaborative Retrofit Project Key to Reliable Energy supply for Stuttgart
Apr 26, 2024

Governor Hochul and Majority Leader Schumer Announce Start of Construction for Edwards Vacuum's $319 Million Semiconductor Supply Chain Facility in Genesee County