Protecting Our Grid Lines

Ameresco, Inc., (NYSE: AMRC), a leading energy solutions provider dedicated to helping customers navigate the energy transition, announced that one of its subsidiaries executed a note purchase agreement and private shelf agreement to finance its ongoing and future energy infrastructure projects. This strategic financial arrangement underscores Ameresco's commitment to advancing energy solutions and enhancing energy resilience.

The first note purchase provides for the issuance of Series A notes of $78 million to finance a battery energy storage asset currently under construction. The Series A notes have a maturity date of 2045 and carry a fixed interest rate. The arrangement also contemplates the issuance (upon lender approval) of Series B notes for a separate solar plus battery energy storage asset and includes an additional 20-year term. The Ameresco subsidiary entered a $300 million uncommitted private Shelf Facility for future solar and battery energy assets.

As part of this transaction, Ameresco signed an agreement for the transfer of investment tax credits associated with the battery asset upon the asset achieving commercial operation. Ameresco expects to sign agreements for the transfer of tax credits for the solar plus storage asset associated with the Series B notes, as well as for future deals under the private shelf facility.

“This financial arrangement marks a significant milestone for Ameresco as we continue to lead the way in providing innovative energy solutions,” said George Sakellaris, President & CEO of Ameresco. “We expect that the $300 million private shelf facility will allow us to execute multiple transactions, enhancing our ability to deliver energy projects that drive cost savings, resilience, and decarbonization. We are excited about the flexibility this agreement provides, as we expect that it will enable us to accelerate the deployment of resilient energy infrastructure.”

“We are thrilled to partner with Ameresco, a leading energy solutions and infrastructure provider, to finance impactful renewable energy and storage initiatives,” said Eric Alini, CEO of CounterpointeSRE. “This shelf agreement aligns perfectly with CounterpointeSRE’s commitment to support resilient, sustainable infrastructure in a variety of asset classes that drive both environmental and economic benefits.”

“Barings is delighted to work alongside Ameresco and our affiliate, CounterpointeSRE, on this innovative financing,” said Stephen Coscia, Managing Director, Global Infrastructure Debt at Barings. “By combining Barings’ debt expertise with CounterpointeSRE’s origination and tax equity capabilities, we’re able to provide Ameresco with a flexible, comprehensive capital solution. This collaboration underscores the unique advantages of our broad platform and our joint commitment to advancing the clean energy transition.”

Ameresco | www.ameresco.com

Aikido Technologies, Inc. (Aikido), a floating offshore wind technology provider, announced that it has signed an agreement with Marin Energy Test Centre (METCentre) in Haugesund, Norway, to deploy a first-of-its-kind 15MW demo project, called ‘AO60.’ Once installed in 2027, the platform will be one of the largest floating wind platforms constructed and deployed to date.

The METCentre has a long history of supporting innovative floating wind projects, including the world’s first floating wind turbine, deployed by Equinor (then Statoil) in 2009. The AO60 project will showcase how the Aikido Platform technology can lower costs while engaging with local Norwegian supply chain partners to assist in the assembly and deployment of the platform. Due to its compact ‘flat-pack configuration,’ Aikido’s technology can leverage existing maritime infrastructure, ports and vessels already in use in Norway.

The Aikido Platform consists of thirteen modular steel components, including columns and trusses, that can be fabricated at existing offshore wind or steel fabrication sites. For the AO60 project, the components will be transported to a final assembly site near the test center, where the platform can be completed in a matter of days, not months, like traditional construction techniques. The Aikido Platform uses pin joints to complete the assembly of the platform without any major welding or painting work. The pin joints act as hinges and allow the platform to be folded during assembly, taking up just one-third of the space of traditional designs. Once deployed in the water, the platform is able to unfold during a simple ballasting procedure.

Sam Kanner, CEO of Aikido, stated, “We are proud to announce our partnership with the METCentre. As evidenced by the recent Utsira Nord actions, Norway is a key floating wind market. This project will show how Aikido can leverage existing infrastructure and vessels to reduce risks and accelerate the deployment of floating wind in Norway and around the world.”

Cecilia Girard-Vika, Director of the METCentre, stated, “This project offers valuable industry experience and supports the development of a full-scale, innovative and cost-effective solution. We are very excited to welcome Aikido to our site in Norway and connect them with Norway’s strong floating offshore wind supply chain.”

To learn more about Aikido and the work it's doing, visit the website.

Marin Energy Test Centre | www.norwegianoffshorewind.no

Aikido Technologies | www.aikidotechnologies.com

On Friday, May 16, the Federal Energy Regulatory Commission (“FERC”) denied without prejudice the Midcontinent Independent System Operator (“MISO”) ERAS proposal. FERC’s difficult but necessary decision protects fundamental transmission open access policy and reinforces the need for a fair, careful, and transparent interconnection process for expedited resource additions.

MISO’s proposal would have improperly favored incumbent utilities while delaying critical renewable energy and storage projects and threatening reliability, FERC reaffirmed its commitment to long-standing market-based approaches to reliability and affordability. The failed proposal would have sidelined over 300 gigawatts of clean energy resources currently in MISO’s queue without meaningfully considering, much less addressing known and pressing challenges related to resource adequacy and reliability, such as bulk electric transmission constraints, natural gas pipeline constraints, or multiyear gas turbine backlogs.

FERC provided guidance in the order that MISO must now take back to stakeholders to discuss. “We welcome FERC’s guidance for a better path forward. Any new proposal should protect competition and reliability by prioritizing market-ready projects so that any desired resource adequacy or reliability benefits could be delivered to the intended state or utility service territory without harming other utilities’ ratepayers,” said David Sapper, Vice President of Transmission & Markets. “We look forward to continued work with MISO, states and other stakeholders."

CGA is committed to collaborating on a durable solution that accelerates clean energy while preserving competition and reliability and addresses actual Resource Adequacy and reliability issues.

Clean Grid Alliance | cleangridalliance.org

In response to Equinor’s announcement that the Department of the Interior’s Bureau of Ocean Energy Management (BOEM) stop work order has been lifted for the Empire Wind project, allowing construction activities to resume, Oceantic Network has issued the following statement, attributed to president and CEO Liz Burdock:

“After more than a month of uncertainty, America is back on track with an Above All Energy approach—one that puts thousands of skilled workers back on the job, reignites construction in our nation’s shipyards, and sends mariners back to sea.

“This moment marks a critical step forward in securing the nation’s energy future and underscores the real, hands-on work building out America’s energy infrastructure to meet rising electricity demand. It’s a win for workers, for the industry—and for the companies in places like Louisiana, South Carolina, and Pennsylvania helping build projects in the northeast.

“We thank President Trump and his administration for letting us get back to work revitalizing shipyards and manufacturing plants, enhancing our maritime sector, and securing our energy future. We thank leaders at every level of government who worked tirelessly to resolve the issues and help resume construction of Empire Wind 1. We are deeply grateful to Governor Kathy Hochul, whose unwavering commitment and leadership ensured that offshore wind—the largest energy infrastructure effort in the last 50 years and a cornerstone of New York’s economy—never lost momentum. America is moving forward. Let’s get to work.”

Oceantic Network | https://oceantic.org/

GoSolar has officially resubmitted its interconnection application with Arizona Public Service (APS) for its flagship Sun Mesa–Cholla project, aiming to deliver over 1,500 MW of solar and 1,500 MW of battery energy storage (BESS) for more than 12 hours storage capacity through a behind-the-meter (BTM) system and received its APS Queue Number. Additionally, the project includes the power flow model to withdraw up to 1,500 MW from the APS grid, supporting a 3.0 GW-peak high-performance computing (HPC) data center campus for its redundancy power needs planned for northeast Arizona on more than 1,000 acres of private land for sale to HPC´s. Strategically located near APS’s Cholla Power Plant—one of the largest transmission hubs in northern Arizona with 230 kV, 345 kV, and 500 kV infrastructure—the Sun Mesa–Cholla site offers unmatched advantages for largescale power users such as data centers, Bitcoin mining operations and hydrogen productions.  Key benefits of the project site connecting to APS, SRP, TEP in WECC and to CAISO includes: 

• High-Elevation Climate: Situated above 5,400 feet, the site benefits from a cooler average annual temperature of 57°F (14°C), ideal for reducing HPC cooling loads and improving operational efficiency of the GigaWatt-scale solar and energy storage system. 
• High sun radiation: On a slow slope with approx. 1% towards south on very flat private land, the Sun Mesa–Cholla site is in one of the highest sun radiation areas in the US.  
• Water Access: Located atop the Coconino Aquifer, the project offers access to substantial water reserves, once used for open-loop cooling and now repurposed for high-efficiency hydro-cooling systems for next-gen data centers and H2 storage. 
• Fiber Connectivity: The site lies adjacent to one of the largest long-haul fiber optic corridors (Dallas–Las Vegas), with two additional dark fiber routes nearby (Phoenix-Albuquerque & Flagstaff) ensuring scalable bandwidth for HPC and digital infrastructure. 
• Strategic Incentive Zones: The site is designated as part of an Energy Community, a Qualified Opportunity Zone (QOZ) (through 2026), and a USDA-eligible rural development area, enabling layered economic / tax incentives and farmer benefits. 
• Accelerated Buildout Timeline: Leveraging its independent microgrid infrastructure, integrated large-scale energy storage and a natural gas pipelines onsite the project enables a significantly faster deployment—delivering partial power supply of 50 MW or more to future onsite campus clients from its onsite resources within 4 to 24 months.

The company is open to new co-location partnerships, land sales, and project acquisition offers from IPP´s, utilities or long-term infrastructure owner-operators. GoSolar has already begun negotiations with hyperscale data center developers and major Bitcoin mining firms for onsite PPA´s, EPC contractors, independent power producers (IPPs), and institutional investors. GoSolar specializes in GigaWatt-scale industrial renewable energy development across Arizona, Iowa, and Missouri. Its projects are designed for co-located solar + storage and BTM microgrid solutions, tailored to meet the needs of high-load consumers including HPC, BTC mining, hydrogen and ammonia production, and e-fuels manufacturing. Additionally, GoSolar’s grid-scale energy storage is engineered to support grid reliability through frequency control ancillary services (FCAS) and demand response capabilities for utilities and grid operators.

GoSolar | https://gosolar.us/

Hitachi Energy’s 765 kV natural ester-filled transformer is the world’s largest at this voltage and power level, setting the benchmark for biodegradable and safety-by-design solutions for high-voltage AC transmission

Hitachi Energy has successfully tested a 765 kilovolt (kV) / 400 kV single-phase, 250 megavolt-ampere (MVA) natural ester-filled oil transformer. This breakthrough innovation makes this transformer the first in the world at this voltage and power level, with the implementation of ester oil providing a biodegradable and safety-by-design option for operators of ultra-high-voltage alternating current (AC) grids. 

765 kV transformers are part of utilities’ strategic transmission expansion plans to meet growing energy needs, thanks to their ability to transmit large amounts of electricity over long distances, improving grid efficiency, stability, and reliability. A typical three-phase 765 kV transformer may supply equivalent power to serve a city of 250,000 people.

The transformer was designed, manufactured and tested to further develop Hitachi Energy’s TrafoStar transformer technology platform, which is available in all power transformer factories worldwide. 

Transformers have traditionally used mineral oil, well known for its excellent electrical properties, as an insulation and cooling medium. More recently, transformer technology innovation has advanced the use of alternative fluids, such as natural ester, with additional safety and environmental performance features.

The tested 765 kV transformer uses natural ester fluid with a flash point twice as high as mineral oil and with self-extinguishing properties. Combined, these qualities make it safer than mineral oil transformers. Additionally, virgin natural esters are up to 100 percent biodegradable within 28 days, reducing the risk of environmental pollution resulting from insulating fluid leakages. Safety is further enhanced by Hitachi Energy’s rupture-resistant TXpandTM technology.

Driven by the accelerating global energy transition and the continuous growth of electricity demand, the supply of new and innovative transformers is more important than ever. High-voltage, natural ester-filled transformers provide grid operators with an efficient and safe solution, especially for environmentally sensitive areas. We are working closely with customers and partners both to upgrade existing ultra-high-voltage power grid infrastructure and develop new energy projects that help to create a more sustainable and secure power system. This development is hugely exciting, and we expect it to meet the needs of a growing number of customers worldwide. -- Bruno Melles, Managing Director for the Business Unit Transformers, Hitachi Energy

On its journey from power generation sites to the end-user, electrical energy passes through an average of four to five transformers, making them essential components of power grids. The 765 kV AC high-voltage transmission is part of power grids in various regions worldwide, including North America, South America, South Africa, and parts of Asia (including China). 

Hitachi Energy has been supplying natural ester-filled transformers for over 20 years, with products installed in over 40 countries. The company’s TrafoStar transformer technology platform harmonizes transformer design, manufacturing processes and quality control measures across all Hitachi Energy power transformer factories worldwide, ensuring consistency and excellence in every transformer produced. With more than 30,000 power transformers produced, the platform incorporates a rigorous quality system and all processes covering material, technical, production, and quality, fostering collaboration, global knowledge sharing, and innovation.

Hitachi Energy | https://www.hitachienergy.com

JinkoSolar Holding Co., Ltd. (the "Company," or "JinkoSolar") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, announced that EAGLE Preserve, its proprietary takeback-and-recycling program for end-of-life solar modules in the U.S., has become the very-first such stewardship program to receive the approval of the Washington State Department of Ecology.  

EAGLE Preserve will pick up end-of-life modules registered with the Stewardship Program from Commercial and Industrial ("C&I") and utility project sites in Washington and ensure they are recycled in a sustainable way, giving solar power customers in Washington their very first turnkey recycling solutions provider.  

The EAGLE Preserve Stewardship Program starts July 1 this year. At that time, other manufacturers may also join the Stewardship Program and offer the same services to their customers. 

Washington laws requiring that solar manufacturers who sell products in-state create and implement an end-of-life module stewardship program (at no cost to the project owner), have been on the books for nearly a decade (RCW 70A.510.010).  In that time, the State of Washington has reconfirmed its policies for end-of-life requirements for solar modules, ensuring that all module components are disassembled and responsibly repurposed or recycled.  A state-approved stewardship plan must ensure the convenient, safe, and environmentally sound takeback and recycling of modules.  A manufacturer's plan, and/or the program it joins, must cover all modules it has sold into the State of Washington after July 1st, 2017.

With this announcement, JinkoSolar is happy to be considered the state's leader in panel recycling.

"JinkoSolar is honored to get approval for the EAGLE Preserve Stewardship Program in the State of Washington," said Nigel Cockroft, General Manager of JinkoSolar (U.S) Inc. "JinkoSolar takes compliance very seriously, and we developed EAGLE Preserve with an eye toward serving the Washington market effectively, responsibly, and in intentional accordance with state law."

JinkoSolar | www.jinkosolar.com