Advanced Geothermal Company Eavor Technologies Raises $182 MN

1.) Advanced Geothermal company Eavor Technologies raises $182 mn that may – among other issues - support development of the geothermal-based microgrid announced last month for the US Air Force Joint Base San Antonio, Texas.

2.) The Biden Administration is engaged in talks with solar companies and non-profits relating to awards of up to $440 mn for rooftop solar and battery storage systems in Puerto Rico.

3.) Dominion Energy expects energy from its $9.8 billion 2.6 GW Coastal Virginia wind farm to come in at $77 MWh, down from earlier estimates of between $80 - $90/MWh. It originated supply deals for turbines in 2021, before supply chain and inflation woes.

4.) By contrast, Orsted cancels 2.2 GW NJ Ocean One and Two offshore projects and will recognize impairments of about $4 bn over the first nine months of 2023. It plans to proceed with 704 MW Revolution Wind project in CT and RI.  Meanwhile, CT releases two RFPs for zero carbon power, with one specifying 2 GW of offshore wind.

5.) Tesla’s Austin Texas gigafactory to support 30 MW of rooftop solar arrays, w/70,000 panels - the largest on the planet.

6.) Reuters reports up to half of the 30+ planned U.S. solar factories announced since IRA was passed may soon be delayed or canceled as a result of plummeting Asian panel import prices. 

7.) BMW execs say new 6th-generation Neue Klasse battery tech may be better than Tesla’s by 2025, w/larger form factors, higher nickel and lower cobalt content in the cathode, and increased silicon content in the anode.

8.) Toyota moving away from passenger fuel cell car Mirai, and switching its H2 strategy to trucks, while boosting investment in NC battery factory, by $8 bn to total of $13.9 b. Annual output of 30 GWh planned by 2030.

9.) Volvo launches Volvo Cars Energy Solutions, offering energy storage and charging-related technologies and services including vehicle-to-grid. Total battery capacity of Volvo fleet expected at around 50 GWh by mid-decade.