HyFuels comprises wind and solar development projects in mid-to-late-stages alongside an earlier stage green ammonia project, all located on the Texas Gulf Coast
BNB Renewables divests the 1GW HyFuels portfolio to Nova Clean Energy. (Credit: Kenueone from Pixabay)
Nova Clean Energy has acquired a portfolio of renewable energy projects with a combined capacity of over 1GW in the US from BNB Renewable Energy, for an undisclosed price.
Dubbed HyFuels, the portfolio comprises wind and solar development projects in mid-to-late-stages alongside an earlier stage green ammonia project.
Located on the Texas Gulf Coast, HyFuels currently has a project footprint of approximately 25,000 acres.
According to Nova Clean Energy, the project features an equal distribution of power between wind and solar sources.
HyFuels’ complementary generation profiles will ensure a consistent supply of clean local power, said the US-focused wind, solar and battery-storage developer, which is owned by Bluestar Energy Capital.
The initial phase of the renewable energy project is anticipated to achieve full notice to proceed (NTP) by 2025, with commercial operations slated to commence in the following year.
BNB Renewable Energy CEO Jos Nicholas said: “A lot of important stakeholders have come together to help us get to this point, and we want to thank the landowners, community members and local officials, including the county commissioners, the ISD, and the VEDC, for their ongoing support.
“Together, we and Nova look forward to working with and learning from this community in Calhoun and Victoria counties in order to bring low-cost electricity and green ammonia to this amazingly productive part of Texas and our nation’s economy.”
Nova Clean Energy has also signed a long-term development services agreement with BNB Renewable Energy to ensure complete alignment for the successful delivery of the HyFuels project.
Both parties initially partnered in mid-2023 for advancing the HyFuels complex. It included the completion of necessary environmental surveys, receipt of a workable schedule for connection to the power grid, and the ordering of long lead-time equipment.
BNB Renewable Energy started the development of the HyFuels project in late 2020.
Nova Clean Energy president Ben Pratt said: “The Texas grid is going to continue to need a variety of power sources to serve its fast-growing demand.
“Wind paired with solar provides a generation profile that industrial as well as utility customers increasingly want to see. We are excited to work with BNB on this important portfolio.”