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EDP Renewables targets distributed generation in US after C2 Omega acquisition


EDP Renewables targets distributed generation in US after C2 Omega acquisition
EDP Renewables’ 20MW Cameron Solar Park in South Carolina. Image: EDP Renewables via Twitter.
EDP Renewables (EDPR) has completed its acquisition of the distributed solar platform of renewables investor C2 Energy Capital.
The platform, called C2 Omega LLC, has 89MW of operating capacity and a 150MW development pipeline including 200 installations in 16 US states.
Miguel Prado, chief executive of EDPR North America and of the new business arm, said the acquisition’s close “confirms our commitment to the North American market”, which the company said it would target for future growth in the coming months. EDP currently operates more than 7GW of renewable energy projects in the market. ....

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DSD lands US$150m construction finance for C&I solar pipeline


DSD lands US$150m construction finance for C&I solar pipeline
The funding has been secured from Rabobank. Image: DSD
US solar and energy storage company Distributed Solar Development (DSD) has secured construction finance worth US$150 million from Rabobank to support its commercial and industrial (C&I) development pipeline for the next two years.
The food and agribusiness bank has provided DSD with a two-year, US$150 million construction revolving credit facility, weeks after the distributed solar developer secured a US$300 million debt facility from Credit Suisse.
DSD said in a statement that the flexible structure of the revolving credit, which incorporates multiple tax partnerships, “aligns strongly” with its Credit Suisse deal. At the time of the agreement, DSD said it expects to close “multiple financing deals” by the end of winter. ....

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IKEA US Completes its First Solar Car Park at its Baltimore Location


(Credit: Distributed Solar Development, LLC)
IKEA US today announced the completion of its first solar car park at IKEA Baltimore and has plans to build an additional seven projects at IKEA stores in Maryland and California. Initial results have exceeded expectations as the Baltimore location has seen an 84% decrease in the amount of energy needed to be purchased between September and December 2020, equating to a 57% energy cost savings for the store.
IKEA currently has 54 rooftop solar arrays atop 90% of its US locations and Ingka Group, a strategic partner in the IKEA franchise system, has invested in two solar parks with 403-megawatt capacity in Utah and Texas. This addition of eight solar projects is the latest in a series of investments IKEA has made in renewable energy. ....

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