![renewable energy projects](/sites/default/files/styles/hart_news_article_image_640/public/image/2023/12/renewable-energy-projects.jpg?itok=UiCMg-Fi)
energyRe has raised $1.2 billion from European investors to help expand its portfolio of utility-scale transmission and renewable energy projects. (Source: Shutterstock)
U.S.-based energyRe, a clean energy project developer, said Dec. 4 it has raised $1.2 billion from European investors to help expand its portfolio of utility-scale transmission and renewable energy projects.
Glentra Capital, Novo Holdings and Denmark-based pension fund PKA are among the investors committing capital, according to a news release.
EnergyRe, which has headquarters in Houston and New York, is a partner in the public-private collaboration Clean Path NY, an $11 billion project targeting the development of 3.8 gigawatts (GW) of new solar and wind power along with a 175-mile, underground 1.3-GW high-voltage direct current transmission line. The company is also a development partner on the 350-mile SOO Green HVDC Link transmission line that will connect the midwestern and eastern power markets.
“We are uniquely focused on decarbonizing U.S. cities and hard-to-abate energy load centers with state-of-the-art electric grids that unlock new sources of clean power across the country,” said energyRe CEO Miguel Prado. “These investments, as well as strategic synergies with our new and current partners, will support energyRe’s robust development pipeline as well as further innovation and expansion in our portfolio.”
EnergyRe’s portfolio of projects includes solar, wind and storage, plus distributed generation, the company said in a news release.
Elia Group, a Belgium-based electricity transmission player, also announced Dec. 4 it agreed to acquire a 35.1% stake in energyRe Giga. Elia Group’s WindGrid subsidiary will serve as the holding entity. Elia Group said it will deploy $400 million over three years into energyRe Giga projects.
Recommended Reading
SLB OneSubsea JV to Kickstart North Sea Development
2024-05-07 - SLB OneSubsea, a joint venture including SLB and Subsea7, have been awarded a contract by OKEA that will develop the Bestla Project offshore Norway.
Equinor to Invest $1B in Troll West Gas Project
2024-05-27 - Equinor awarded contracts to OneSubsea and SLB in the Troll Field as part of efforts the further develop gas infrastructure offshore Norway.
Aker Solutions’ Consultancy Arm Renamed Entr
2024-05-23 - Aker Solution’s newly christened Entr plans to double its revenue and headcount by 2030.
Eni Reports Discovery Offshore Mexico in Block 9
2024-07-10 - Italian energy giant Eni SpA announced a discovery at the Yopaat-1 EXP exploration well in the offshore Mexico Block 9 of the Cuenca Salina in the Sureste Basin, which potential up to 400 MMboe in place.
CNOOC’s Bohai Bay Well Achieves High Yield
2024-07-11 - CNOOC’s Bozhong 19-6 Condensate Gas Field D1 well, the first ultra-deep well in China’s Bohai Bay, is currently producing approximately 6,300 boe/d.