PV power plants manufacturer
8minute Solar Energy is an American
photovoltaic (PV) developer of utility-scale
PV power plants and
energy storage .
History
2009 - 2018
It was founded by
Tom Buttgenbach and Martin Hermann in 2009.
[1]
In 2014,
Kern County Board of Supervisors approved development of Redwood Solar Farm which received investment of $30 million by
Macquarie Capital .
[2]
[3]
[4]
In 2018, it had raised $200 million through a joint venture with
J.P. Morgan Asset Management and Upper Bay Infrastructure Partners for its pipeline of utility-scale solar projects.
[5]
[6]
2019 - present
A 25 year pact was signed with
Los Angeles Department of Water and Power in 2019.
[7]
In July 2019, the company sold its Holstein solar project to
Duke Energy .
[8]
[9]
The Holstein project was the company's first completed development in Texas, with approximately 709,000 solar panels on 1,300 acres in Wingate, Texas.
[10]
In early 2020, 8minute Solar Energy received investments from the University of California system, J.P. Morgan Asset Management and Upper Bay Infrastructure Partners to fund development of solar projects.
[11]
In 2022,
University of California filed a lawsuit against 8minute Solar.
[12] The same year, 8minute Solar Energy announced they had secured $400 million in financing from institutional investor EIG.
[13]
[14]
8minute Solar rebranded the company to the name Avantus in 2022.
[15]
[16]
[17] In March 2024, it was announced a majority stake in Avantus had been acquired by the US
private equity company,
KKR for an undisclosed amount.
[18]
Developments
It has developed solar farms that includes
Eagle Shadow Mountain Solar Farm which is a 420
MWp (300
MWAC )
photovoltaic power station north of
Las Vegas, Clark County, Nevada .
[19]
[20]
Mount Signal Solar which is a 594
MWp (460
MWAC )
photovoltaic power station west of
Calexico ,
California ,
[21]
[22]
[23] a 137 MW
Springbok Solar Farm and the 191 MW Springbok 2 solar project, both located in
Kern County, California .
[24]
[25]
See also
References
^
"US company, 8minutenergy, to build 4 GW of solar capacity in India" . @businessline . Retrieved 2019-02-11 .
^ Glover, Mark (2014-10-21).
"Folsom's 8minutenergy to develop solar projects in Kern County" . The Sacramento Bee .
ISSN
0890-5738 . Retrieved 2019-02-11 .
^
"Macquarie Infrastructure Development" . www.macquarie.com . Retrieved 2019-02-11 . [
permanent dead link ]
^ Goosens, Ehren (August 5, 2014).
"Edison to Buy 457 Megawatts of Solar From 8minutenergy" . Bloomberg .
^
"U.S. solar developer 8minutenergy in $200 million joint venture" . Reuters . 2018-12-11. Retrieved 2019-02-19 .
^
"8minutenergy, J.P. Morgan and Upper Bay Form $200M Joint Venture for Solar Project | Los Angeles Business Journal" . labusinessjournal.com . Retrieved 2019-02-19 .
^ Roth, Sammy (September 10, 2019).
"Los Angeles OKs a deal for record-cheap solar power and battery storage" .
Los Angeles Times . Retrieved September 11, 2019 .
^ Eric Wesoff (August 12, 2020).
"The best little utility-scale solar roundup in Texas" . PV Magazine . Retrieved August 20, 2020 .
^ Misbrener, Kelsey.
"Duke Energy acquires its largest solar project yet" . Solar power world .
^ Kelsey Misbrene (July 7, 2020).
"8minute Solar Energy brings first project online in Texas" . Solar Power World . Retrieved August 20, 2020 .
^ Kate Finma (April 27, 2020).
"UC invests in solar power developer 8minute Solar Energy" . The Daily Californian . Retrieved August 20, 2020 .
^ Garcia, Luis (31 January 2022).
"University of California Sues 8minute Solar, Seeking $1.22 Billion" .
Wall Street Journal .
Archived from the original on 31 January 2022.
^
"8minute energy closes $400 million in financing from EIG" . pv magazine USA . 2022-01-19. Retrieved 2022-12-08 .
^
"8minute Solar Energy Closes $400 Million in Financing from EIG" . businesswire .
^
"8minute Solar Energy expands services and rebrands as Avantus" . solar power world .
^ scully, jules.
"US developer 8minute Solar Energy rebrands as Avantus" . pv .
^
"Avantus Launches Out of 8minute Solar Energy to Redefine the Energy Sector" . businesswire .
^ Akella, Surya (2024-03-21).
"KKR to acquire majority stake in Avantus" . Power Technology . Retrieved 2024-03-21 .
^ Kahn, Brian.
"Solar Just Hit a Record Low Price In the U.S." Earther . Retrieved 2019-02-11 .
^
"NV Energy 2.3-cent solar contract could set new price record" . Utility Dive . Retrieved 2019-02-11 .
^ Woody, Todd.
"U.S. Solar Industry Booming Despite China Trade War" . Forbes . Retrieved 2019-02-11 .
^
"Folsom's 8minutenergy gets approval for largest solar farm" . www.bizjournals.com . Retrieved 2019-02-11 .
^
"8minutenergy Renewables breaks ground on first phase of 800MW PV project" . PV Tech . Retrieved 2019-02-11 .
^
"8minutenergy And D. E. Shaw Start Construction Of 191 MW Springbok 2 Solar Farm - Solar Industry" . Solar Industry . 2015-12-15. Retrieved 2019-02-11 .
^
"Solar Farm in California Selling Power 58% Below State Average" . Bloomberg NEF . Retrieved 2019-02-11 .