1+ GW renewable development portfolio to change hands
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1+ GW renewable development portfolio to change hands

Nova Clean Energy has finalized the purchase of a more than 1 GW renewable energy development portfolio from BNB Renewable Energy, Nova announced.

The portfolio, known collectively as ‘HyFuels,’ includes two wind and two solar projects and an adjacent green ammonia development project, all located on the Texas Gulf Coast. The area has rapidly increasing power demand and is known to be a major producer of ammonia.

The wind and solar projects are in the mid-to-late development stage, while the green ammonia project is in early development. The first phase of HyFuels is expected to reach Full Notice to Proceed (NTP) in 2025 and Commercial Operations in 2026, Nova said.

BNB Renewable Energy is a developer with wind and solar projects across the U.S. and Mexico, including for a range of industrial clients. Nova has entered into a long-term development services agreement with BNB, which originated the development in late 2020.

Nova now has a project pipeline exceeding 5 GW in eight states and multiple power markets.

Originally published in Power Engineering.

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