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February 23, 2021

Capital Dynamics and Hoosier Energy sign 150MW power deal in US

Capital Dynamics’ Clean Energy Infrastructure business has signed a 150MW power purchase agreement (PPA) with generation and transmission cooperative Hoosier Energy.

By Umesh Ellichipuram

Capital Dynamics ’ Clean Energy Infrastructure business has signed a 150MW power purchase agreement (PPA) with generation and transmission cooperative Hoosier Energy .

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Hoosier Energy will purchase 150MW of clean energy generated by Capital Dynamics ‘ Ratts 2 greenfield solar project in Knox County, Indiana, US.

Hoosier Energy president and CEO Donna Walker said: “Hoosier Energy ‘s PPA with Capital Dynamics is an important step toward achieving our long-range plan of adding diverse projects to our energy portfolio that focus on lowering costs for our members and reducing our carbon footprint.”

Arevon Energy Management and Tenaska will co-develop the project. A statement from Capital Dynamics said the companies played an “instrumental” role in procuring and negotiating the terms of the PPA.

Construction works at the solar project will begin next year, with commercial operation anticipated in 2023. Construction will create 188 full-time jobs.

Last October, the Knox County Council approved the economic development agreement for the Ratts 2 Solar Project. Additionally, the county finalised a solar ordinance to guide certain technical aspects of the project.

According to the agreement with Knox County, project developers have agreed to pay $2.5m for the economic development over a period of six years. The project will also pay an estimated $1m in annual lease payments to landowners.

Capital Dynamics CEO Martin Hahn said: “We are extremely pleased that Knox County has been so supportive of the Ratts 2 Solar Project and are grateful for their partnership.

“This project will bring jobs, tax revenue, landowner lease payments and a wide range of additional economic benefits to Knox County.”

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Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

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