Looking Ahead to 2026

RWE has achieved a significant milestone in the construction of the 1.1-gigawatt Thor offshore wind farm by successfully installing the first turbine off Denmark’s west coast near Jutland. Installation works are underway from the Port of Esbjerg, with the Fred.Olsen Windcarrier vessel Brave Tern able to transport and install three turbine sets per cycle. In total, 72 Siemens Gamesa wind turbines, each with a capacity of up to 15 megawatts, will be put in place by the end of 2026. Each individual turbine stands around 148 metres above sea level and features rotor blades as long as 115 metres.

Sven Utermöhlen, Chief Executive Officer RWE Offshore Wind: “Large-scale construction projects at sea require teamwork, precision, and a clear commitment to safety — qualities that our teams demonstrate every day at Thor. With the first turbine now installed, we have reached an important milestone in the delivery of Denmark’s largest offshore wind farm. Once fully commissioned, Thor will play a crucial role in achieving Denmark’s climate goals and in strengthening the EU’s energy independence.”

Sustainable features: CO2-reduced steel towers and recyclable blades

Thor will be the first offshore wind farm in the world to use 36 steel turbine towers that have been manufactured with a lower carbon footprint by Siemens Gamesa. In addition, some of the turbines will be equipped with recyclable rotor blades. This represents a pioneering step toward lifecycle sustainability for an offshore wind farm and aligns with RWE’s sustainability ambitions.

Thor progressing according to plan

The offshore construction works are proceeding well. Last year, the offshore substation and all foundations for the 72 wind turbines were successfully installed. Recently the project obtained the 30-year electricity production licence from the Danish Energy Agency, one of the preconditions to start the commissioning works.

When fully operational in 2027, Thor offshore wind farm will be capable of producing enough green electricity to supply the equivalent of more than one million Danish households. The wind farm’s operations and maintenance plan envisages creating 50 to 60 local jobs at a new RWE service building at the Port of Thorsminde, which will be officially opened in March.

Thor offshore wind farm is a joint project between RWE (51%) and Norges Bank Investment Management (49%). RWE is in charge of construction and operations throughout the lifecycle of Thor.

Leading global player in offshore wind

RWE already has 19 offshore wind farms in operation globally, including Rødsand 2, located south of the Danish island of Lolland. In addition to Thor in Denmark, the company is currently building three major offshore wind farms: the Sofia offshore wind farm (1.4 GW) in the UK, the Nordseecluster (1.6 GW, RWE share: 51%) off the German coast and OranjeWind (795 MW, RWE share: 50%) in the Netherlands.

RWE | thor.rwe.com

The Virginia General Assembly has officially passed legislation that would significantly expand the Commonwealth’s shared solar programs, unlocking new opportunities to lower electricity bills and strengthen reliability. These bills, which bring locally generated power to more families, businesses, and communities across the Commonwealth, passed with bipartisan support and will now be presented to Virginia Governor Abigail Spanberger for action.

The legislation includes SB 254 and HB 807, sponsored by Senator Scott Surovell and Delegate Rip Sullivan, which apply to Dominion Energy’s service territory, as well as SB 255 and HB 809, also sponsored by Sen. Surovell and Del. Sullivan, which address Appalachian Power Company (APCo) territory. Together, the bills build on the success of Virginia’s existing shared solar programs by expanding capacity, improving certainty for customers and developers, and ensuring these programs can play a meaningful role in addressing rising energy costs and growing electricity demand.

“Shared solar has already proven itself as one of the fastest, most cost-effective ways to deliver real savings to Virginians,” said Sen. Scott Surovell, sponsor of the legislation. “These bills are about scaling what works—giving more families access to affordable power while strengthening reliability and keeping investment here in Virginia.”

Virginia’s shared solar programs are currently capped at pilot-scale levels and have been fully subscribed, leaving customers and projects on waitlists despite strong demand. In Dominion territory, the original 200-megawatt program has been fully awarded across 52 projects, serving tens of thousands of customers. In APCo territory, the 50-megawatt program launched in 2025 and was oversubscribed almost immediately.

The Dominion bills (SB 254 / HB 807) would require the release of an additional 525 megawatts of shared solar capacity by July 1, 2026, including a dedicated portion for low-income subscribers, while establishing a clear, predictable process for future program expansion overseen by the State Corporation Commission (SCC). Once a portion of that capacity reaches substantial completion, the SCC would initiate a proceeding to evaluate additional allocations and program design.

The APCo bills (SB 255 / HB 809) would improve customer participation by establishing consolidated billing, or net crediting, aligning APCo’s program with best practices already in place elsewhere in the state. The legislation also lays the groundwork for future capacity releases to meet strong interest in Southwest Virginia, where many counties have expressed interest in hosting shared solar projects.

“Affordability is front and center for Virginians right now, and shared solar delivers immediate, guaranteed bill savings while benefiting all ratepayers,” said Del. Rip Sullivan, sponsor of the House legislation. “These bills provide certainty, transparency, and a responsible path forward so shared solar can help meet the Commonwealth’s growing energy needs.”

To date, shared solar saves participating customers 10 percent or more on their monthly electricity bills—roughly $175 per year—while also delivering system-wide benefits by reducing the need for costly generation, transmission, and distribution investments. A third-party analysis of expanded shared solar in Virginia found $64 million in net benefits in the first two years alone and more than $2.4 billion in net benefits over 25 years, with savings accruing to all utility customers, whether or not they directly subscribe.

“Virginia is facing unprecedented load growth and rising energy costs, and shared solar is one of the most practical tools available to respond quickly and affordably,” said Charlie Coggeshall, Mid-Atlantic Director at the Coalition for Community Solar Access. “These bills recognize that shared solar is far from a pilot concept—it’s a proven solution that can deliver lower bills, local jobs, and grid benefits at scale.”

Shared solar projects, also known as community solar projects, are typically small- to mid-sized facilities located on farmland, rooftops, brownfields, and other underutilized sites. They can be deployed faster than traditional utility-scale generation, support local economic development, and provide landowners with stable, long-term revenue while preserving working lands.

With strong demand across both utility territories, advocates say the legislation represents a critical step toward ensuring shared solar can help Virginia meet its affordability, reliability, and economic development goals—without new taxes or subsidies.

CCSA | https://www.communitysolaraccess.org 

MacLean Power Systems ("MPS" or "MacLean Power") and Power Grid Components ("PGC"), two leading manufacturers of engineered components and solutions for electrical transmission, distribution, substation and communication infrastructure, announced the closing of their previously announced merger. Funds affiliated with Blackstone Energy Transition Partners and Blackstone's flagship private equity strategy ("Blackstone") have become the majority owner of the combined company. In connection with the transaction, an affiliate of Centerbridge Partners ("Centerbridge"), will be making a new investment into the combined company. The platform – one of the largest suppliers of highly-engineered utility equipment in North America – will move forward as one entity under the MacLean Power Systems name. Following the transaction, PGC's portfolio of products, including Allied Bolt, Elliott, ITEC, Meister, Mid-Central, Newell, Royal Switchgear and Vizimax, will become part of the MacLean Power Systems family.

Alongside the completed merger, MPS is pleased to announce leadership updates as it moves into its next phase of growth. Steve Scharnhorst, current CEO of MacLean Power Systems, will lead the combined company. Mike Plaster will transition from CEO of Power Grid Components to President of MacLean Power Systems, leading all commercial and operational activities across the platform.

Steve Scharnhorst, CEO of MacLean Power Systems, said: "Today is an exciting milestone for MPS and our customers. Bringing together these highly complementary businesses strengthens MPS' ability to support the construction, maintenance, repair and upgrade of critical grid infrastructure through a comprehensive portfolio of high-quality, customer-driven engineered solutions. We look forward to Leading the Way™ to a more resilient grid together as an industry-leading platform."

Mike Plaster, President of MacLean Power Systems, added: "MacLean Power is a premier brand in our industry, built on decades of providing reliable, high-quality, essential components for the power grid and adjacent industries. I'm excited to partner closely with Steve and our combined teams as we expand our portfolio and capabilities to continue to best serve our customers across all segments of the electrical grid."

JP Munfa, Senior Managing Director, and Mark Zhu, Managing Director, at Blackstone, said: "MacLean Power plays a vital role in supporting the safety, efficiency, and resiliency of the grid. We are thrilled to partner with Steve, Mike, and the entire team to work on building an even stronger, scaled platform that is well positioned to support rapidly growing electrical infrastructure needs."

Conor Tochilin, Senior Managing Director at Centerbridge, said: "We congratulate Steve and the entire MPS team on their outstanding success to date. Centerbridge is excited to reinvest in the combined MacLean Power platform, building on the strong foundation we've established together and backed by a proven management team. We look forward to partnering with Blackstone to support the combined company's next stage of growth as it accelerates its momentum and continues to benefit from powerful secular tailwinds."

Terms of the transaction were not disclosed.

MacLean Power Systems | www.macleanpower.com

Power Grid Components | https://pgc.com/

Blackstone Energy Transition Partners | https://www.blackstone.com/our-businesses/blackstone-energy-transition-partners/

Centerbridge Partners | www.centerbridge.com 

Oceantic Network—the nation’s leading educational nonprofit dedicated to accelerating offshore wind and ocean renewables development—will explore emerging market research on the future opportunity for the U.S. steel supply chain through the development of offshore wind. By harnessing the future buildout of offshore wind energy, the U.S. can dramatically expand its steel sector’s demand by $42 billion, creating more than 186,000 American jobs, over the next two decades, and bring online new capabilities that deepen the nation’s economic security. 

Strengthening the Backbone of American Energy: A Study on Domestic Steel Manufacturing and Offshore Wind 

WHY THIS MATTERS NOW: 
Offshore wind is entering a pivotal phase as the U.S. accelerates grid expansion, domestic manufacturing, and energy security planning. Five projects now under construction are proving the technology’s potential in America, having sparked tens of billions of domestic supply chain activity and supported thousands of jobs, while delivering nearly 6,000 MW of badly needed power generation that will lower ratepayer costs. Now, with new investments coming online in Midwestern steel mills, a homegrown U.S. offshore wind supply chain is no longer hypothetical; it exists and bringing it to scale can unlock $42 billion in economic value across the steel supply chain. This webinar will present new research which lays out the opportunity for this key sector of the national security apparatus and quantifies steel demand and highlights gaps in current fabrication capabilities that are holding back the U.S. steel industry from harnessing the opportunity offered by 70 GW of near-term offshore wind projects.

WHO SHOULD ATTEND: 
This webinar is designed for reporters who cover: 

• Offshore wind, clean energy, or climate policy 

• Energy affordability, grid reliability, or transmission challenges 

• Steel, heavy fabrication, industrial production, or maritime infrastructure 

• State and federal energy leadership 

• Supply‑chain resilience, domestic manufacturing, or workforce impacts 

• Environmental, economic, or energy permitting frameworks 

WHAT:

Strengthening the Backbone of American Energy: A Study on Domestic Steel Manufacturing and Offshore Wind 

WHEN:

Thursday, March 12, 2026, 11:00 a.m. - 12:00 p.m. 

WHO:

Tim Mack, VP of U.S. Content, US Wind 

Sam Salustro, SVP of Market & Policy Strategy, Oceantic Network 

Justin Slater, VP of Business Development, Fincantieri Marine Group 

Maf Smith, Principal, Lumen Energy & Environment 

Oceantic's virtual events offer expert‑driven briefings on breaking developments and issues central to offshore wind, grid modernization, supply chain advancement, and marine renewable energy. These webinars equip attendees with insights into regulatory and policy frameworks, supply chain strategy, grid and transmission innovation, and the technologies shaping the next decade of ocean energy development. 

Oceantic Network | https://oceantic.org/

Avantus has closed a financing package of more than $300 million with Banco Bilbao Vizcaya Argentaria (BBVA) and Canadian Imperial Bank of Commerce, New York Branch (CIBC) for the Kitt Solar and Energy Storage Project (Kitt). Located in Pinal County, Arizona within the City of Eloy, Kitt features 100 MWac/130 MWdc of solar and 400 MWh of energy storage.

The financing package includes construction funding, a tax equity bridge loan, and letters of credit.  Currently under construction, Kitt is expected to create up to 500 construction jobs and reach commercial operation by the end of 2026.  

“The financing demonstrates the continued bankability and commercial viability of utility-scale solar and storage projects in the region, and Avantus’ growing presence in Arizona,” said Avantus CEO Cliff Graham. “We're grateful for BBVA and CIBC's partnership in bringing this critical infrastructure to Arizona at a time when the state navigates mounting pressure on its electric grid.” 

“We are proud to support Avantus in delivering critical clean energy infrastructure at a pivotal moment for Arizona’s power system,” said Eugene Kasozi, Managing Director in charge of the Cleantech sector for BBVA. “This financing highlights BBVA’s ability to structure and deliver comprehensive capital solutions for complex, utility-scale solar and storage projects, ensuring disciplined execution during construction. By partnering with Avantus on projects of this scale, BBVA continues to deploy its project finance expertise to back infrastructure that enhances grid resilience and supports sustained power demand growth in key U.S. markets.” 

“We are pleased to have supported the financing with Avantus on a project that reflects our shared commitment to advancing reliable and sustainable infrastructure,” said Ines Serrao, Managing Director and Co-Head, U.S. Project Finance & Infrastructure, Canadian Imperial Bank of Commerce. “The facility will deliver meaningful benefits to the local community, while strengthening grid reliability and meeting the region’s power demand.” 

The project has a signed Power Purchase Agreement (PPA) with Arizona Public Service (APS), with the capacity to serve up to 32,000 Arizona homes. The 400 MWh battery storage system will play a vital role in grid resilience, storing solar energy during the day and dispatching it during evening peak demand hours and major weather events—a critical capability as Arizona prepares for growing energy demand and hotter summers.  

Once operational, Kitt is estimated to generate over $25 million in local tax revenues to benefit local services, such as schools, public safety and infrastructure throughout its lifespan.

RES is providing the engineering, procurement and construction (EPC) services for the project with Fluence providing their Gridstack Pro battery energy storage system (BESS) technology and integration. 

White & Case LLP served as Borrower’s counsel on the transaction, with Fennemore Craig, P.C. serving as local counsel. Akin Gump LLP served as counsel to the financing parties, with Quarles & Brady LLP serving as local counsel.

Avantus has one of the largest pipelines of solar and energy storage projects in the United States, which includes approximately 24 gigawatts (GWdc) of solar and 75 gigawatt hours (GWh) of energy storage under development across the Western United States. 

Avantus | www.avantus.com

Ciel & Terre International has obtained Approval in Principle Level 1 (AiP) issued by Bureau Veritas Marine & Offshore, validating the design of its new Fusio floating solar system. This AiP reassures the quality level of the floating solar solutions developed by the company, as well as the conformity and reliability of its anchoring designs.

Bureau Veritas approval: a key milestone confirming the reliability of Fusio:

The Approval in Principle issued by Bureau Veritas is a major step in the field of floating solar systems. It assesses the technology on technical and structural aspects, as well as mooring principles based on offshore criteria.

Fusio technology was evaluated according to a scope covering:

• The floating structure supporting the photovoltaic modules
• The mechanical interfaces for electrical cables and mooring systems
• The anchoring and mooring system (SKS: Station Keeping System)
• The electrical specifications related to cabling

The Bureau Veritas analysis recognized the robustness of the technical choices, confirming that the project does not conflict with the rules and regulations applicable to inland or calm water applications. Tests and technical notes such as CFD, wind tunnel tests, and structural engineering documents, were reviewed and incorporated into the evaluation process.
This approval confirms that the Fusio solution complies with Bureau Veritas’ most demanding technical rules and standards, and is a recognition of the seriousness, reliability, and level of innovation of Fusio.

More robust, durable, and efficient floating solar installations

Fusio stands out thanks to its innovative architecture, which offers:

• improved mechanical strength of the float thanks to its honeycomb shape,
• wide adaptability to a variety of site conditions,
• a design conceived to reduce long-term effort and fatigue,
• optimal integration of electrical and mooring systems.

Given this significant and unique technology development, it was essential for Ciel & Terre, an expert in floating solar power, to have its new technology assessed by rigorous organisations such as Bureau Veritas to validate the performance and durability principles of its new structure.

International recognition accompanies the expansion of Fusio

Obtaining AiP from Bureau Veritas reinforces the credibility of Fusio among energy producers, investors, and authorities, providing confidence and transparency in the design process.

“This approval in principle confirms the solid work undertaken by our R&D teams and our desire to raise the standards for floating solar power. Fusio marks a turning point in our ability to support ever more ambitious projects.” — Stéphane Prouvost, Director of the Ciel & Terre Division, Ciel & Terre International

This new generation paves the way for even safer, more stable, and more efficient installations, while remaining adapted to the environmental requirements of sensitive water bodies. Besides, for 2 years now, Fusio has already been installed on 3 projects facing extreme wind and wave conditions without suffering any damage, further proof of its robust structure and design.

THE 1ST 100KWP FUSIO PILOT

THE 4MWP PROJECT WITH FUSIO

Ciel & Terre International | https://ciel-et-terre.net/

Standard Solar, Inc., a leading developer, owner and operator of commercial and community solar assets, announced it has acquired a six-project community solar portfolio totaling 28.8 megawatts (MW) in New Jersey and Illinois from AC Power, a woman-owned solar development company that specializes in putting clean energy on previously disturbed land. All six projects are sited on closed landfills and brownfield parcels, transforming capped or constrained properties into long-term community energy assets.

Standard Solar’s 512 megawatt (MW) safe-harbor solar panel inventory enabled this acquisition by providing immediate procurement certainty and reducing one of the market’s biggest schedule and pricing risks. With long-lead equipment already secured, the projects can move straight into execution, compressing timelines and accelerating construction and completion while remaining resilient amid ongoing supply-chain variability.

“This acquisition reflects our continued appetite for high-quality community solar projects that are ready to move and align with our near-term deployment strategy,” said Megan Byrn, VP of Business Development, Standard Solar. “AC Power is a proven partner, and their landfill and brownfield expertise aligns with our focus on responsible siting and long-term performance. With 512 MW of safe-harbored panels secured, we are actively seeking projects where we can deploy that inventory quickly to reduce procurement risk and deliver subscriber savings and reliable local generation sooner.”

The portfolio includes two community solar projects in New Jersey totaling approximately 6 MW, located in Berlin and Freehold. Together, the New Jersey projects are expected to generate approximately 7,693 megawatt hours (MWh) in their first year and are scheduled to reach completion in 2027.

In Illinois, Standard Solar acquired four projects totaling approximately 22.8 MW, located in South Barrington, Hillsboro and two sites in Lockport. The Illinois projects are expected to generate approximately 33,092 MWh in their first year, with three projects scheduled for completion in 2026 and the remaining project scheduled for completion in 2027.

All six sites are previously disturbed properties, including closed landfills and brownfield parcels, developed by AC Power using ballasted racking systems that preserve the integrity of existing site caps and environmental controls.

“Standard Solar is an ideal long-term owner for this portfolio because they share our commitment to delivering real value to subscribers and the communities where these projects operate,” said Annika Colston, founder and CEO of AC Power. “Their safe-harbored panel inventory gives these projects a clear path from closing to construction, and we're proud to see this work move into execution with a partner we trust.”

Standard Solar | standardsolar.com

AC Power | acpowerllc.com