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Renewable energy consumption grew in 2020 as fossil fuels and nuclear shrank.

Sunrise brief: Renewable energy consumption grew in 2020 as fossil fuels and nuclear shrank, PV Magazine , 17 June 21,

Also on the rise: Black & Veatch unit sets financing for 137 MW Texas project, Rockefeller Foundation partners to fund distributed renewable projects in Africa, and DroneBase closes a funding round as it expands its solar presence.JUNE 16, 2021 DAVID WAGMAN  Consumption of renewable energy grew for the fifth year in a row in 2020, reaching a record high of 11.6 quadrillion British thermal units (Btu), or 12% of total U.S. energy consumption.

The Energy Information Administration (EIA) reported the data and said that renewable energy was the only source that increased in 2020 from 2019; fossil fuel and nuclear consumption declined.

Hydroelectric power accounted for about 22% of U.S. renewable energy consumption. Consumption has remained relatively flat since the 1970s, but fluctuates with seasonal rainfall and drought conditions.

Financing set for Texas solar project

Black & Veatch unit Diode Ventures said it reached financial close on the Grizzly Ridge Solar Project, a 137.7 MW solar project located in Hamilton County, Texas, southwest of Fort Worth. The project was co-developed with RKB Energy. Details of the financing were not disclosed.

Once complete, Grizzly Ridge will provide energy to the ERCOT North Zone, a growing economy and power market where there is high demand for all forms of electricity.

The project has an executed interconnection agreement with Brazos Electric Cooperative, the transmission service provider. The area will undergo an upgrade from 69 kV to 138 kV. Diode also is in discussions to add an on-site battery energy storage system to the project.

Rockefeller Foundation partners to bolster renewables

The International Finance Corp., the private sector arm of the World Bank Group, and The Rockefeller Foundation announced a partnership to deploy $150 million of capital in blended finance to leverage up to $2 billion of private sector investment in distributed renewable energy.

The two will prioritize countries in Sub-Saharan Africa and other regions, where both organizations have identified immediate opportunities.

By blending philanthropic and private investment funding, the Rockefeller Foundation and IFC hope to de-risk capital investment in distributed renewable projects in emerging markets and help to address global energy access needs.

An initial “rapid deployment” phase will distribute $30 million in blended concessional finance and grant capital to leverage an active pipeline of distributed renewable energy projects developed by IFC. The funding will go toward IFC’s prototype scaling mini-grid program in addition to distributed renewable energy generation, battery energy storage, and other clean energy technologies to facilitate access………. https://pv-magazine-usa.com/2021/06/16/sunrise-brief-renewable-energy-consumption-grew-in-2020-as-fossil-fuels-and-nuclear-shrank/

June 19, 2021 - Posted by Christina Macpherson | renewable, USA