Hannon Armstrong Sustainable Infrastructure Capital and ENGIE North America have completed a 2.3-gigawatt wind as well as solar power project. A 50-megawatt (MW) solar farm in Virginia is the culmination of the companies’ cooperative renewable energy efforts. There is 1.8 GW of the onshore wind as well as 0.5 GW of the utility-scale solar photovoltaic energy capacity in the whole project, which incorporates 13 wind and solar plants.
From late 2019 to the fall of 2021, the projects were under construction. The projects were developed by ENGIE and will be operated by them in the future. The equity agreement with Hannon Armstrong, according to ENGIE, demonstrates the potential for major financial relationships to aid in the development of renewable energy growth.
“Only through the extraordinary teamwork and best-in-class implementation of our valued partners at ENGIE was the ultimate commissioning of this milestone multi-gigawatt renewable portfolio possible,” notes Hannon Armstrong CEO Susan Nickey, who is an Enivronment+Energy Leader 100 Honoree. “We share a common aim to accelerate the adoption of climate alternatives, and we consider this portfolio of initiatives is a leading example of what can and should be done at scale to accomplish our country’s ambitious decarbonization targets with clean and reliable electricity.”
In the United States, wind and solar energy initiatives are spearheading the renewable energy shift. As per the Energy Information Administration, renewable energy use reached an all-time high in the very first half of the year 2021, with wind power accounting for about 30% of total use.
According to some projections, solar will account for half of the country’s electricity supply by the year 2050, as the United States shifts its policy toward sustainable energy. The 2.3 GW facility is a portion of ENGIE North America’s US renewable energy portfolio of more than 3 GW, with a pipeline of about 10 GW of expansion projects, according to the company.
According to the projections, the difficulties must be addressed in order for solar expenses and benefits to be spread evenly. Solar energy deployment can result in more jobs, lower electricity bills, and improved energy security. Various initiatives can enhance equity in rooftop solar adoption, including financial, community participation, siting, policy, legislative, and resilience strategies.
Additional equity measures can tackle the allocation of public and private benefits, costs, procedural fairness in energy-related decision-making, the necessity for a just workforce transformation, and potential negative externalities connected to solar project siting and solar material disposal.
The project is part of ENGIE’s aim to cut carbon emissions in industries, towns, and transportation, according to ENGIE. Recently, the business assisted a California school district in developing a strategy for converting its bus fleet from the diesel to electric vehicles.