Monday, July 15, 2024

‘1GW HyFuels renewable energy portfolio acquired by Nova Clean Energy’

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Nova Clean Energy has completed the acquisition of the HyFuels portfolio from BNB Renewable Energy, marking a significant addition to its renewable energy projects in the US. The HyFuels portfolio consists of wind and solar development projects, along with an early-stage green ammonia project, all situated on the Texas Gulf Coast. Covering an area of approximately 25,000 acres, the projects are expected to generate over 1GW of clean energy.

With a balanced mix of wind and solar sources, the HyFuels portfolio is set to provide a consistent supply of clean power to the region. Nova Clean Energy, a subsidiary of Bluestar Energy Capital, aims to achieve full notice to proceed by 2025, with commercial operations scheduled to begin in the following year.

BNB Renewable Energy CEO Jos Nicholas expressed gratitude to the stakeholders, landowners, community members, and local officials for their support in reaching this milestone. Nova Clean Energy and BNB Renewable Energy have also entered into a long-term development services agreement to ensure the successful delivery of the HyFuels project.

The collaboration between the two companies began in mid-2023 and has since focused on environmental surveys, grid connection schedules, and equipment procurement. Nova Clean Energy President Ben Pratt highlighted the importance of a diverse energy mix to meet the growing demand in Texas, emphasizing the benefits of wind and solar generation for industrial and utility customers.

The acquisition of the HyFuels portfolio represents a strategic move for Nova Clean Energy to expand its presence in the renewable energy sector and contribute to the sustainable development of the Texas Gulf Coast region. Stay tuned for further updates on this significant project as it progresses towards completion.

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