SunPower and Maxeon Solar Technologies have finally completed the strategic transaction announced last November, separating into two independent public companies. “Now is the right time for this strategic spin-off, allowing both SunPower and Maxeon to invest in key programs to drive their future profitable growth,” said Tom Werner, SunPower CEO. Jeff Waters is CEO of Maxeon, headquartered in Singapore with panel and cell manufacturing facilities in France, Malaysia, Mexico and the Philippines. Concurrent with this transaction is an equity investment of $298 million into Maxeon by long-time partner Tianjin Zhonghuan Semiconductor Co., (TZS), a global supplier of silicon wafers. Source: SunPower, SunPower CEO Tom Werners’ blog
A battery can sell three types of products: resource adequacy (RA), ancillary services , and energy. RA revenue is a function of the capacity market rules (e.g., size of battery and duration), and is generally procured on a monthly or annual basis. As such, RA value is not directly impacted by short term energy and ancillary prices or dispatch. Ancillary services, especially regulating reserves, are currently profitable, but the market for them is very small compared to the size of the energy market. In the CAISO, for example, the current regulating reserve market is about 300 MW of “reg up” and 300 MW of “reg down.” Historically, the regulating reserve market was served by flexible hydro and natural gas. Source: EnergyGPS
More Prospero Solar project news. CIT Group’s Power and Energy business served as lead arranger on a $266M financing for Longroad Energy’s 331-MW Prospero 2 solar project in Andrews County, Texas. The Prospero 2 solar farm follows the original 379-megawatt Prospero project, also in Andrews County, which recently entered commercial operation. Both Prospero projects are among the largest solar power generation facilities in Texas. Source: CIT Group, Longroad Energy
Duke Energy Florida plans to add three battery energy storage sites and nearly 30 MW to enhance power quality, reliability and critical services during outages.
- 18 MW of battery storage at Lake Placid Solar Power Plant.
- 8.25 MW of storage in Alachua County to enhance power quality.
- A 3.5-MW solar plus storage microgrid site will be added at Pinellas County’s John Hopkins Middle School. The microgrid will support grid operations and provide backup electric power to the school when it must operate as a special need’s hurricane evacuation shelter.
All three sites are on track to be completed by the end of 2021. Source: Duke Energy
Hunt Military Communities (HMC), the largest U.S. military housing owner, plans to expand on its leading initiatives to integrate additional solar rooftop PV systems across its facilities in Hawaii. HMC communities in Hawaii include more than 7,000 homes across 38 communities at Ohana Military Communities (OMC) in Wheeler Army Airfield, Barking Sands, Marine Corps Base Hawaii and Joint Base Pearl Harbor Hickam