![]() ![]() This agreement enables the development of solar and energy storage projects exclusively for Naturgy, the first of which is 7V Ranch Solar. Last year, Naturgy acquired a portfolio of 25 projects in the United States, totalling more than 3.5GW, and signed an exclusive five-year development agreement with Candela Renewables. Naturgy plans to invest more than €1bn in the US over the next few years to reach an operating capacity of 500MW by 20MW by 2025. The project will create an average of 200 jobs during construction work, reaching around 600 workers at times of peak workload. "Starting construction of this new facility is a milestone for Naturgy, not only because it is the first in the United States and the company's largest photovoltaic plant in the world, but also because it demonstrates our firm commitment to the development of renewable energies and the energy transition," said Naturgy chairman Francisco Reynes. Recognizing that financeability is a key ingredient in the success of any capital-intensive undertaking, we are developing projects that are structured to provide predictable and resilient returns to investors and lenders.Naturgy said the plant’s strategic location, close to major urban centres such as Houston, Austin, San Antonio and Dallas, will allow it to serve an area of high potential and growing demand. Candela Renewables, which is based in San Francisco and was founded in 2018 by former First Solar employees, is valued at 80 million-100 million, one of the sources said. Since its founding, Candela claims to have assembled a portfolio of more than 3.6GW in solar projects and 2.2GW in co-located energy storage. ![]() As a technology-agnostic company, we are able to deploy the best solar equipment, as well as complementary technologies, such as battery storage, for the benefit of project owners, power purchasers, landowners and other constituents. Candela Renewables was founded by former First Solar executives Brian Kunz and Nik Novograd in 2018, to develop utility-scale solar projects in the US. We believe that the transition to a low carbon economy will be accelerated by the availability of competitively priced renewable energy, so we are intensely focused on lowering the cost of solar power. Much of our core team has worked together at NextLight and First Solar, Inc., its acquirer, where Brian ran North and South American project development and origination.Ĭandela’s mission is to develop the most reliable, cost effective, financeable and environmentally beneficial solar power projects in the United States. Launch of partnership with Candela Renewables Canadian Breaks reaches Financial Close Global Head of Energy Technology About the Green Investment Group. These projects broke records for scale, helped drive down costs, and are now successfully operating in a number of states. Attendees this year included: Austin Energy, Berkeley Lab, Bloomberg LP, Borrego, C2 Capital, Candela Renewables, City of Glendale, Colorado PUC, ConEd. Candela Renewables, LLC is developing the Stonefield Solar Project, a solar photovoltaic (PV) generating station in Hardin County with a capacity of up to 120 megawatts (MW). Highway 62 near the southwestern edge of the City of Elizabethtown, generally between the TJ Patterson. About Candela Renewables Founded by former First Solar executives, Candela has one of the most accomplished teams developing utility-scale solar power projects in the United States. The site is located near the Vulcan Materials Quarry along U.S. As announced at the start of 2021, Candela and Naturgy will work on a pipeline of 3.2 GW of solar and 2 GW of co-located battery energy storage projects, which the Spanish utility acquired through the purchase of solar and storage platform Hamel Renewables LLC. NextLight took the logical next step by developing much larger projects, utilizing photovoltaic equipment, which was rapidly becoming more cost efficient. Candela Renewables, LLC is developing the Stonefield Solar Project, a solar photovoltaic (PV) generating station in Hardin County with a capacity of up to 120 megawatts (MW). Candela Renewables is the most accomplished developer of utility-scale solar power projects in the United States. Solar power had previously been deployed through small photovoltaic projects, mostly on rooftops, and larger solar thermal projects using technologies such as parabolic trough mirrors. NextLight brought together a team of highly experienced professionals from the power industry to focus on what was then an emerging industry: solar power. Candela Renewables was formed by Brian Kunz and Nik Novograd, who worked together at NextLight Renewable Power, a company that Brian co-founded in 2008.
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