J.P. Bauman

Vitesse Energy, LLC to Buy Bakken Pureplay Lucero in $220MM Deal Vitesse Energy will acquire Lucero Energy Corp.’s Bakken/Three Forks assets, including 25 net remaining locations, 1.9 net DUCs and 20 wells that are candidates for recompletions. Read the full story: https://lnkd.in/gpvguvxb

73

⚡ New analysis up on the PJM Interconnection power market auction results, tackling key takeaways from a major price jump: - Where does supply/demand stand? - How will consumer bills be impacted? - What challenges exist to building and connecting new resources to the grid? - How has public policy impacted reliability and costs in the region? - Should utilities get back in the generation business? - What are the next steps for policymakers, PJM, and generators? We answer these questions here: #energy #powermarkets #PJM

1

YTL Power acquiring control of Ranhill Utilities Tuesday, June 4th, 2024 Analysts view the move positively, noting potential synergies for YTL Power, particularly in water operations and RE YTL Power International Bhd is on fire. Just recently, the power utility and infrastructure group was in the news for its involvement in advanced data centre projects. Linked to that is the artificial intelligence (AI) wave. Now, the utilities arm of YTL Corporation Bhd made another big corporate manoeuvre when it moved in to take a controlling stake in Ranhill Group Utilities Bhd. It has scooped up the shares related to Tan Sri Hamdan Mohamad for RM405.2 million in a move that will see it making an offer for the remaining shares that it does not own. The acquisition bumps up YTL Power’s holding in Ranhill Utilities to 53.19% from 21.77%, obliging it to extend the mandatory takeover offer (MTO) to acquire all the remaining Ranhill Utilities shares it did not already own. YTL Power said it intended to maintain the listing status of Ranhill Utilities. In its report, MIDF Amanah Investment Bank Bhd (MIDF Research) noted that the entry of a “strong controlling shareholder” in YTL Power which operates in similar business segments as Ranhill Utilities was positive and allowed Ranhill Utilities to tap its expertise in the water sector given the former’s strong track record in operating Wessex Water Ltd in the UK. “We believe Ranhill Utilities is a strategic fit for YTL Power as both are operating in similar businesses in water and power, albeit with differing scale and geographical presence,” the research house said. “Overall, we see this acquisition as a mid-to-long-term positive for YTL Power,” MIDF Research said, maintaining its ‘Buy’ call on the counter with a 52-week target price (TP) of RM6.35. YTL Power has 10 ‘Buy’ and three ‘Hold’ calls on its counter, with no ‘Sell’ call among equity analysts tracked by Bloomberg, with a consensus TP of RM6.21. In another report, Hong Leong Bank Berhad Investment Bank Bhd (HLIB Research) also said that it was “overall positive” on the acquisition which would allow YTL Power to strategically consolidate Ranhill Utilities’ operations (water and LSS) which complements the group’s exist- ing business portfolio and derive potential synergies. RHB Banking Group Investment Bank Bhd (RHB Research), which has a ‘Buy’ call with a TP of RM6.68, said it believed the stake increase in Ranhill Utilities was a strategic move for YTL Power to complement its portfolio while strengthening its footprint in Johor given its ambitious data centre development. It said that while it expected muted near-term impact, it saw potential synergies in the longer run. Full Article : https://lnkd.in/gd773GJ6

83

1 Comment

Constellation Energy's acquisition of Calpine represents a transformative development in the U.S. energy sector, with significant implications for market dynamics and grid interconnection. The merger's success will depend on effectively integrating diverse energy assets, strategic infrastructure investments, and careful navigation of regulatory landscapes. #EnergyTransition #GridModernization #MarketTrends Via Utility Dive https://lnkd.in/ghzgJnCB

13

1 Comment

There is something for everyone in the #InflationReductionAct including tax exempt and governmental entities. With Direct Pay provisions, those entities can get money back on their investments in solar, wind, battery storage, and other #cleanenergy related projects. This is a big change from the solar tax credit structure in the past where non-profits or government agencies could not get direct value on those investments. The project pipeline is already growing: https://lnkd.in/gDKWdp7F

3

FERC has approved interconnection reform - and this is *generally* good for the energy transition. That said the devil in in the details of how states and utilities implement these changes. Some improvements like penalties assessed against utilities for tardy studies, trying to clean out queue squatters, and expressly identifying certain technical flexibility into interconnection design are good. However, we have specifically seen "Cluster Studies" and higher financial security requirements stymie development and create very costly and endless loops of re-studies in many markets (utility and DG). Calling on American Clean Power Association (ACP) Solar Energy Industries Association and importantly state level advocacy and watch dog groups to closely watch and actively participate as the implementation of these changes occur at the state level PUCs and DPUs - ensuring proper accountability and fair play. https://lnkd.in/ewehaH52 NYSERDA New York Solar Energy Industries Association MID-ATLANTIC RENEWABLE ENERGY COALITION Renewable Energy Vermont American Council on Renewable Energy (ACORE) Smart Electric Power Alliance NECEC Cleantech Leaders Roundtable

43

2 Comments

Last week, Arevon Energy, Inc.’s CEO Kevin Smith shared his insights regarding the technologies, market factors, and policy drivers shaping the renewable energy industry. Jonathan Berke, the host of the NPM US (New Project Media) Interconnections Podcast, posed questions about MISO interconnection reforms, Arevon’s growing presence in CAISO, and how the company views transmission investments.  Kevin highlighted Arevon’s growing portfolio of storage assets, the maturation of battery technologies, and the impact of the IRA’s transferability provision on deal flow. He explained that perceptions around standalone storage as an asset class have shifted over the past couple of years, as lenders are more comfortable with underwriting these projects now. Kevin outlined the unique capital structure for Arevon’s Vikings Solar-plus-Storage Project, Condor Energy Storage Project, Cormorant Energy Storage Project, and Eland 2 Solar-plus-Storage Project, noting that Condor was one of the first deals in the market with a tax equity hybrid transfer structure. He highlighted Arevon’s strong relationships with banking partners, and the company’s tailored approach to project finance, which has resulted in more than $2.3 billion in financing in less than six months. To hear the podcast in full, you can access it here: https://lnkd.in/ewxgHHYm  

32

1 Comment

PJM Interconnection earned an appalling D- for its generator interconnection process in a scorecard released earlier this year by Grid Strategies LLC and The Brattle Group. While implementing Federal Energy Regulatory Commission (FERC) Order No. 2023 will be an important first step, more work is needed to improve interconnection across regional transmission operators to meet growing demand. Join us this #InterconnectionWeek in applauding FERC for convening a workshop on interconnection, and calling for further reforms: https://hubs.ly/Q02P0KVJ0

4

Some thoughts on the changes coming to the energy software market: SCADA systems have been the backbone of energy operations since the 1960s, but they are now at a critical turning point. These systems provide real-time data visualization but lack analysis and reporting capabilities. Utilities have had to rely on additional tools from their EMS, home-grown reporting, or other niche software solutions to fill this gap. One significant change on the horizon is FERC-22. This ruling aims to integrate distributed energy resources into regional wholesale markets and encourages greater participation of small-scale resources like rooftop solar, battery storage, and electric vehicles, to create a more decentralized energy market. As SCADA systems rely on outdated technology and proprietary protocols that hinder integration with modern solutions, the FERC-22 ruling will drive demand for advanced software solutions to manage these distributed resources, optimize grid operations, and ensure reliable energy delivery. I'm excited to see how EMS providers adapt and what niche software solutions will emerge in the market.

19

2 Comments

New blog from our Director of Energy Markets, Michael Pohlod (he/him)! Explore how the latest PJM Interconnection Base Residual Auction (BRA) results affect #demandresponse opportunities, capacity prices, and energy savings strategies for businesses in the PJM region. #virtualpowerplants #distributedenergyresources https://lnkd.in/gYnTE33Y

40

"Utility firm NextEra Energy said on Monday it intends to raise $1.5 billion through the sale of equity units to fund new projects. Utility firms across the United States are ramping up investments in power projects to meet an expected spike in demand, fueled by artificial intelligence data centers. The fund raise would be the second such initiative by the company this year, primarily to invest in its energy and power projects. NextEra, which owns the world's largest renewables business and one of the biggest U.S. regulated electric utilities, reported a backlog of 24 gigawatts (GW) in the third quarter for its renewable arm. The company said on Monday that each equity unit, issued in a stated amount of $50, will consist of a contract to buy NextEra's common stock in three years in cash and based on a range from zero to 25% premium, compared to the closing price of Oct. 28. #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance #nextera #renewables #energy https://lnkd.in/dk84WBb6

3

SolAmerica Energy Secures $129 Million Financing for 18 MW Illinois Solar Portfolio SolAmerica Energy has secured $129 million in financing for an 18 MW solar portfolio comprising seven projects in Illinois. The funding includes a $50 million construction loan from KeyBank and a $79 million sale-leaseback tax equity investment from Key Equipment Finance. These solar projects are expected to become operational in 2025. Headquartered in Atlanta, Georgia, SolAmerica Energy specializes in developing and managing community-scale solar projects. The company is owned by funds managed by AB CarVal. KeyBanc Capital Markets acted as the administrative and collateral agent for the transaction, while Key Equipment Finance served as the tax equity investor. Tully Blalock, […] Read the full story here: https://lnkd.in/dYv67-t6 #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #fundraising #greenfinance #northamerica #renewableenergy #solamericaenergy #usa

1

Without major reforms or market innovations, most projects entering PJM’s interconnection queue today are unlikely to come online before 2030. Read more here! #PJM #energyindustry #energynews https://lnkd.in/ek_TWaF2

7

Read our deep dive into the recent PJM Capacity Auction delay, analyzing the record-high pricing and ongoing delays impacting stakeholders across the grid. This blog by Arianna Goldstein and Cameron Odegaard offers crucial insights for anyone navigating the evolving energy landscape, from utility operators to grid planners and energy investors.💡 https://hubs.li/Q02Wc-Cc0

14

PJM market design flaws add BILLIONS to latest capacity auction costs: market monitor. A switch in how PJM measures power plant availability, one of several market issues flagged by Monitoring Analytics, increased capacity costs by $4.4 billion compared to its previous approach. The PJM Interconnection’s most recent capacity auction was significantly affected by market design flaws, including one that enables generation owners to increase prices by exerting market power, according to the grid operator’s independent market monitor.  Monitoring Analytics estimates that PJM’s new “effective load carrying capability” availability metric increased revenue in the record-setting July auction by about $4.4 billion, or by nearly 50%, compared to its previous “equivalent demand forced outage rate” metric, the market monitor said in an initial analysis of the auction released Friday. Other factors also contributed to a jump in capacity costs from the auction, according to the report. “At a time when significant generator retirements and increasing demand are causing system reserves to dwindle rapidly, we find the [market monitor’s] conclusion that much lower prices in our last capacity auction would have induced needed amounts of investment in generation capacity to not be credible,” Jeff Shields, a PJM spokesperson, said in an email Tuesday. The report fails to include any review of factors that would potentially have increased the cost of capacity, including a specific sensitivity requested by PJM — namely what capacity prices would have been if several of the market monitor’s recommendations in its report on the previous base residual capacity auction had been followed, Shields said. TNi Energy-BESS 10HR LDES, we've innovated a groundbreaking method that repurposes recycled lead-acid batteries, extending their life span to 25 years for C1 to C20 Energy Storage purposes. Previously, the industry lacked a safe and environmentally conscious alternative to lithium | sodium-ion batteries. However, our proprietary technique reveals that lead-acid batteries are not only SAFER but also 60-75% more cost-effective than their hazardous counterparts. Made in the USA. LCOS = .42 kW/h #TNiEnergy,#10HRLDES,#ELDES,#C1toC20,#nebulositycloud, #BESS,#C3Energy,#Energy,#LDESS.Energy, #ZEROemmissions, #ZEROcarbon, #energytransistion, #LeadAcid Battery, #windpower, #solarpower, #VPP, #MicroGrid, #DERM, #HydroPower, #BitCoinMining 

2

1 Comment

We have secured $20 million in bridge funding from Overlay Capital to advance over 2.6 GW of battery energy storage and solar projects. The funding will support critical grid interconnection deposits, ensuring our projects continue moving forward across six U.S. states. We appreciate Overlay Capital’s partnership and its commitment to helping developers navigate rising interconnection costs. For more on our news, please read our press release: https://lnkd.in/dvHQ2ash #EnergyStorage #CleanEnergy #GridConnection #Solar #funding

8