Key Capture Energy’s Post

CRC-IB advised Key Capture Energy on the successful execution of an ITC tax credit transfer for two energy storage projects located in ERCOT totaling 200MW / 400MWh.  We’re proud to support KCE’s efforts to deploy grid-critical battery energy storage systems nationwide. Read more in the transaction press release: https://lnkd.in/gyBrgyaf   #taxcredit #ITC #transferability #energystorage #BESS

We’re pleased to share that our partners Dispatch have commenced construction on the 45 MW standalone battery energy storage system in the Netherlands. Upon completion, it’s expected to provide enough energy supply to an estimated 21,500 households per day. In June 2024, Macquarie Capital and EPICo partnered with Dispatch to finance and develop the project to help support the country's #EnergyTransition. Learn more about Macquarie Capital’s capabilities: https://macq.co/6046tkjzK

Impairment charges of nearly $1bn mainly relating to assets in North America have led to deepening losses in Shell’s renewables business in the fourth quarter of 2024. https://lnkd.in/ec_XXHHT

Corporate procurement has been a key driving force of #renewables uptake globally. In 2023, corporate power purchase agreements unleashed 25% of wind and solar capacity additions globally, outside mainland China, compared to 5% in 2015. North America emerged as the frontrunner, with US-headquartered companies playing a pivotal role as early adopters. As of this year, #CorporateRenewable procurement capacity continues to show momentum, with 15.8 GW contracted in the first quarter, growing 36% year on year. Read S&P Global Commodity Insights article: https://okt.to/h6xIyq

New Post: [GCL and Partners Invest 450 Million Yuan in Global Energy Storage - GCL and Partners Invest 450 Million Yuan in Global Energy Storage Headquarters CompanyOn November 29, GCL Integration announced plans to establish the Xiamen GCL Energy Storage Partnership (Limited Partnership) with GCL Energy Technology and Xiamen Industrial Investment Co., Ltd. The partnership will have a total subscribed capital of 450 million yuan, with GCL Integration contributing 180 million yuan, which represents 39.97% of the total capital. This initiative aims to enhance GCL's position in the global energy storage sector. Read the full article here https://lnkd.in/dV7MtP6E #Venturecapital #VC #investment #LP #Limited Partner

Yesterday we saw the announcement of a second toll agreement of battery energy storage in GB - but this one looks a bit different. 1) it's for a single, new-build asset (albeit one that's already being constructed). 2) It's for seven years, as opposed to two in the Gresham House/Octopus deal. We estimated the value of that tolling agreement at around £57k/MW/year for a 1.6-hour portfolio. We think this agreement for the 3.3-hour project could be in the range of £70-80k/MW/year, based on project economics and the balancing of priorities on both sides. At a toll level of £75k/MW/year, BW/Penso Power would significantly derisk the project while still earning a return (£108k/MW/year when combined with Capacity Market and TNUoS revenues). Meanwhile, Shell would capture the upside if revenues increase as projected — earning up to around 22% of merchant revenue (compared to ~5% for a typical optimization agreement). But they carry the risk if the market does not recover to expected levels. Tolls are important not just because they shift risk within a project to those best suited to carry it, but also because they have the potential to attract new investment in storage from lower-risk, more traditional infrastructure players—something critical for supporting the net-zero transition. With the duration of this toll extending out to seven years, it feels like we are on the way there. Check out more of our analysis of the toll here: https://lnkd.in/eZA5cTur

Apollo Funds have agreed to acquire a 50% stake in a 2 GW solar and BESS portfolio from TotalEnergies, consisting of three solar projects and two battery storage projects in Texas’ ERCOT market. Read more: https://lnkd.in/eXDngi8d

Energy Vault Reports First Quarter 2024 Financial Results: · Revenue of $7.8 million from recognition of Utility and IPP storage projects, in-line with expectations; Licensing revenue from GESSOL in Southern Africa is expected later in 2024 · GAAP Gross Margin of 26.7% driven by strong management and execution on US battery projects · Cash OpEx of $16.7 million, improved 22% year-over-year and 14% quarter-over-quarter · Quarter-end Cash and Cash Equivalents of $136.8 million, within Q1 guidance range of $125 – 150 million Read more: https://hubs.la/Q02wBB1k0 #EarningsReport #FinancialResults #EnergyVault #NRGV #EnergyStorage #RenewableEnergy

Ørsted making some big moves today- partially divesting from three onshore projects in the US in a sale to Energy Capital Partners. https://lnkd.in/gp9d-NWH

Aypa Power has secured $190 million in financing for the 200 MW / 400 MWh Bypass Battery Energy Storage System (BESS) in Fort Bend County, Texas. Supported by Sumitomo Mitsui Banking Corporation – SMBC Group, Santander, Siemens Financial Services, and Morgan Stanley, this financing supports the development of critical energy infrastructure in one of the country's most dynamic markets. This milestone reflects the strong collaboration of our financial partners and the dedication of the Aypa team. As one of ERCOT’s first fully contracted energy storage projects, Bypass BESS will enhance grid capacity, meet growing regional energy needs, and deliver significant economic benefits, including hundreds of construction jobs and $20 million in tax revenue. #aypapower #aypa