800 MW Vineyard Wind 1 Offshore Wind Project Lines Up $2.3 Billion In Financing

Lake Ontario to get two electric ferries; battery recycling co Redwood Materials planning on massive U.S. battery materials factory; San Antonio's Muni Utility CPS, solar developer OCI Solar Power, and Hyundai Motor Group will test used batteries in a utility-scale storage system to be built next year in San Antonio; 800 MW Vineyard Wind offshore project lines up $2.3 bn of debt financing - time to start building; Illinois Governor Pritzker signs The Climate and Equitable Jobs Act committing state to 50% carbon free power by 2040 and 100% by 2045. Up to 10 GW of solar anticipated.

1) Ontario will soon see two electric ferries cruising its shores.

2) Lithium battery recycler Redwood Materials plans to build one of the planet's biggest battery materials factories, recovering materials and manufacturing back into both anode copper foil and cathode active materials. Plan is for a 100 GWh per year of cathode active materials and anode foil production by 2025, w/capacity for 1 million electric vehicles, scaling to 5X by 2030.

3) CPS, San Antonio's Municipal Utility, local solar developer OCI Solar Power, and Hyundai Motor Group will test capability of used batteries in utility-scale storage project next year.

4) Vineyard Wind lines up $2.3 debt financing for 800 MW, 62 turbine Vineyard Wind 1 project. Project can now green light its contractors, and begin the hiring, training and deploying of labor. Onshore work to start within months on Cape Cod. Offshore work beginning in 2022 and first power flowing sometime in 2023.

5) Illinois Governor Pritzker signs Climate and Equitable Jobs Act, committing the state to 50% carbon free power by 2040 and 100% by 2045. As much as 4 GW of utility scale PV and 5.8 GW of rooftop and community solar anticipated by SEIA. Also $280.5 coal-to-solar and storage initiative for storage projects on retiring coal plant sites. Illinois Senate also voted to offer $700 million in subsidies over 5 years to Exelon to keep 2 nuclear plants operational.