Missed Offshore Wind Opportunity. UK did what the US has thus far failed to do and that’s to renegotiate the PPAs for offshore wind developments that are now unbuildable. Thanks to inflation, supply chain issues and interest rates rising, the offtake agreements are just not bankable and the only way the generation can find its way onto the grid is with an adjustment. If the PPAs go back to bid, guess what will come back? Higher rates, but instead of now, the projects will get further time delays, so why not just get it done.
Managing Installer Cash Flow. Interest rates are the highest in 22 years, increasing solar financing costs and softening consumer demand for loan products. Businesses are feeling the pain of strained cash flows, labor costs and profitability pressures. Palmetto, a B2B technology company accelerating the adoption of clean energy, has announced a new partnership offering for solar installers to help stabilize cash flows and grow faster in today’s market. Built on top of Palmetto’s Clean Energy Operating Platform, this is a comprehensive suite of tools and services enabling installers to streamline operations, optimize performance, and increase profitability. Visit https://www.palmetto.com/finance or contact capital@palmetto.com for more.
- Bloomberg: UK Boosts Wind Farm Support Price to Get Projects Back on Track
- Utility Dive: Energy Department offers $3.5B for battery manufacturing
- Axios: U.S. and China strike deal on climate ahead of COP28
- Reuters: U.S. renewable, grid battery projects battle transformer shortage
- PV-Tech: Michigan aims to meet 100% of energy demand with renewables by 2040
- Renewable Energy World: German government grants Siemens Energy a loan guarantee to help secure the company
- Energy Storage News: Hybrid PV plants in Chile with 900MWh of BESS financed by institutional investor SUSI
- Canary Media: Bankrupt EV bus-maker Proterra finds buyers for its business units
Opinion
Best, Yann