Renewable Energy News In Brief for August 6

News Briefs Aug 6-Nextracker Acquires Ojjio, BrightNight Raises $440 Million, Marinus Link

By Saur News Bureau/ Updated On Tue, Aug 6th, 2024

Nextracker Acquires PV Foundation Maker Solar Pile International

US based PV tracker major Nextracker has acquired US-based solar PV foundations supplier Solar Pile International (SPI) for US$48 million. This is Nextracker’s second acquisition of a solar foundation maker after Ojjio that was closed in June this year for $120 million.

Announcing the acquisition during Nextracker’s financial results for the period covering April to June 2024, Dan Shugar, Founder and CEO said that Nextracker saw the acquisition complimenting its Tracker business well, by providing a more ‘holistic’ solution for complete foundation work and trackers. SPI is also supposed to be more experienced with softer soils, unlike Ojjio that has expertise in more complicated, shallow bedrock soil surfaces.

News Briefs June 21- Nextracker, Sembcorp, German Solar Target

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BrightNight Closes US$440 million investment from Goldman Sachs

US IPP BrightNight has confirmed that a $440 million secured funding from Goldman Sachs completes its funding requirements for its 5 year plan after previous fund raises.

The Infrastructure business at Goldman Sachs, Goldman Sachs Alternatives, provided the funding. , taking its total exposure across different infrastructure businesses to over US$16 billion.

Hitachi Energy To Build HVDC Link To Connect Tasmania To Mainland Grid In Australia

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Australia’s Crucial Victoria-Tasmania Undersea Link Moves Ahead

Italy’s Mysmian group has been selected to be the cable supplier for the Marinus link, a critical undersea HVDC connector between Tasmania and Victoria in Australia. The 1.5GW undersea high-voltage direct current interconnector is expected to be completed by 2030 running between North West Tasmania and the Latrobe Valley in Victoria. Slated to be 345km long and include 255km of undersea cables that will cross the Bass Strait, the Marinus link is considered critical to allow the transfer of renewable energy between the two states, while strengthening the national grid significantly in Australia.