This Week in Energy: CA's Big Bet, TX's $5.4B Boost, & Global Solar Surge!
1.) California to contract up to 2 GW of long-duration energy storage resources as part of 10.6-GW clean energy procurement program to be deployed between 2031 and 2037. CA looking for up to 1 GW of minimum 12-hour, and 1 GW of multi-day capabilities. Same procurement also includes up to 1 GW of geothermal and 7.6 GW of floating offshore wind.
2.) The Texas PUC approves up to $5.4 bn of state-backed loans at 3% for 17 gas-fired generation assets offering almost 10,000 MW of new capacity.
3.) The Nuclear Regulatory Commission OKs Dominion Energy application to extend its 2,000 MW North Anna Power Station’s operating licenses for an additional 20 years. The two reactors can now run through 2058 and 2060.
4.) Bloomberg New Energy Finance reports 428,000 MW of solar were installed globally last year, up 76% over 2022.
5.) Advanced geothermal startup Sage Geosystems and data company Meta agree to a deal for up to 150 MW of 24/7 geothermal energy somewhere east of the Rocky Mountains. Phase 1 of the project would operate by 2027.
6.) China’s MingYang installs first 20 MW turbine, designed for offshore environments, though initial turbine will be installed onshore.
7.) GM and Samsung SDI finalize terms for a $3.5 billion EV battery factory in Indiana, with commissioning in 2027. The factory, delayed about a year owing to market conditions, will boast an initial capacity of 27 gigawatt-hours and a maximum capacity of 36 gigawatt-hours per year.
8.) Nissan approves updated 20 kW bidirectional charger from Fermata, that won’t void the warranty, for use with Leaf EV. Virtual power plant company Swell Energy to shut down, leaving some utility DER programs in the air.
9.) TotalEnergies paying $100 mn to preserve 750,000 acres of U.S. forests, reaping associated carbon credits.