systems

Latin American startups in the energy sector attracted significant investment, securing more than $750 million in 76 funding rounds from 2021 to April 2024. This information comes from the EnergyTech Report 2024, produced by Distrito, the leading platform for emerging technologies in the region. Brazil dominates the investment landscape, with an 80% share of $605.9 million raised through 61 transactions.

The push for cleaner energy solutions stemming from climate change concerns has spurred the creation of many energy-focused startups. Of the 347 energy technology firms mapped in Latin America, 55% are dedicated to renewable energy solutions such as solar panel installation and photovoltaic system loans. Energy distribution comes with 130 startups offering energy saving and consumption monitoring solutions.

“The energy technology segment is one of the most dynamic segments in the innovation ecosystem,” said Gustavo Gierun, CEO and co-founder of Distrito. He noted that regulatory changes, the expansion of the Free Energy Market, the increasing importance of climate initiatives and corporate capital are the main factors in the development of the sector. Gierun expressed optimism that 2024 could be a banner year for the industry.

From January to April 2024, energy technologies in the region raised $113 million across seven deals, more than half of the $213 million invested in 17 rounds the previous year. The peak year of investments was 2022, 294 million dollars were attracted through 28 investments.

Brazil’s Órigo, which operates solar parks in multiple states, is the most funded company in the region, securing $346.9 million in three of the five largest investment rounds.

Investment Distribution and Trends

Energy distribution leads the investment categories with $417.3 million raised through 57 rounds. This reflects strong market demand for innovations that improve energy supply, support a free energy market and connect consumers to solar parks.

Mergers and acquisitions in the energy technology sector were particularly active in 2022 with five recorded deals. The first four months of 2024 saw three transactions, indicating a potential uptick in activity for the rest of the year.

Key trends driving the sector include electrification and electric mobility, driven by the expansion of the Chinese automotive industry in Latin America and the growing interest in electric vehicles. Government initiatives such as Brazil’s Rota 2030 program aim to support technological development and competitiveness in the automotive sector, along with tax cuts for electric vehicles.

Companies are also focusing on developing long-life batteries, which are essential for storing renewable energy. In addition, microgrids with enhanced battery storage are emerging as viable solutions for local power generation grids for the energy transition, particularly benefiting remote and isolated communities.

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ABINGDON, Wash. (WJHL) – Catalyst Energy Partners will host an open house for its Wolf Hills solar project on May 30 at John Battle High School.

According to a statement from Catalyst Energy Partners, the open house invites the community to learn more about the Wolf Hills solar project, including its “economic impacts, workforce opportunities, property value, Wolf Hills Gas Plant, solar pastures and energy flow.” spokesman.

The open house will be Thursday, May 30, from 6-9 p.m

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The 250-megawatt solar project is being developed in conjunction with the Wolf Hills Natural Gas Plant at the Bristol Industrial Park.

The release states:

Developer Catalyst Energy Partners plans to build a hybrid power plant that will provide the community with solar power during the day and use natural gas power when the sun isn’t shining. This will generate enough clean energy to power 40,000 homes in the surrounding area.

The release comes days after a Washington County, Virginia, community raised concerns about the project.

LEXINGTON, Ky. (WKYT) – East Kentucky Power, a nonprofit electric cooperative, wants to build solar panels on a 384-acre site between I-64 and US 60 on the far eastern edge of Fayette County. to the Fayette/Clark County line.

“In the long run, the sun is long-lived. The standard warranty for solar power manufacturers is 25 years. So when solar is installed, a lot of clean energy is generated,” says Joshua Bills, Principal Energy Analyst.

Bills explained that the energy cooperative also gets an exclusive contract to build solar installations thanks to federal legislation designed to promote clean energy. Now, this proposed farm is expected to generate 40 megawatts of energy, enough to power about 4,500 homes.

EKPC CEO Tony Campbell said in a statement that it would help “meet the growing demand for sustainable energy, particularly among businesses and industries.”

But Lexington City Leaders hope to put the plans on hold for now.

“If there is an interest in making the best project possible, people should look at what plans or parameters are available. Like, is there an end-of-life decommissioning plan?”

Mayor Linda Gorton’s office asked the Kentucky Public Service Commission to intervene in the case.

“It takes time to learn and plan,” Gorton said in a statement. Continuing, ‘we should have a say in the location of such projects.’

“You know there’s a growing trend to combine and combine agriculture with solar power generation, which is going to be harder to do now with a natural gas or coal power plant.”

East Kentucky Power also plans to add another solar farm in Marion County. Together with Fayette County Farm, they could generate enough electricity to meet the annual energy needs of more than 15,000 homes.

There is a public meeting for the Marion County Project on Thursday night.

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PLYMOUTH, Box Elder County – A new 80-megawatt solar farm in Box Elder County will power several Utah cities across the state.

The Steel Solar project consists of more than 200,000 solar panels. Engineers with SOLV Energy said it sits on about 900 acres off Interstate 15.

“They receive a small radio signal from our operations center outside of San Diego, so there are antennas all over the place, wired in turns,” said project manager Luke Derby. “The computers from San Diego put everything on a timer, and the radio is sent, and the rows alternate as the sun moves through the day.”

Steel Solar is the latest Utah project from national developer DE Shaw Renewable Investments (DESRI).

“We’re about seven or eight projects, it’s a big investment over many years, five or six, seven years we’ve committed to investing in this state,” said chief development officer Hy Martin.

Cities around the state

About 600 acres of solar panels power 20 cities: Blanding, Bountiful, Ephraim, Fairview, Fillmore, Heber Light & Power, Hurricane, Hyrum, Lehi, Logan, Morgan, Mt. Pleasant, Paragonah, Payson, Price, Santa Clara, Springville, South Utah Valley Electric Service District, St. George and Washington.

Each city belongs to the Utah Associated Municipal Power Systems, or UAMPS. CEO and general manager Mason Baker said 20 of his 50 members have chosen to go solar.

“Solar power like this will occur in the summer when peak load occurs, so our electricity demand on the system is at its highest,” Baker said.

According to him, the project will work only 30% within a certain year.

DESRI’s solar farm, Elektron Solar, in Tooele recently began generating power for Salt Lake City, Park City, some ski resorts and Utah Valley University.

Baker said customers at home won’t notice a difference.

“When it comes to the overall resource mix, it’s still a fairly small part of it,” he said.

Withstand the weather

Solar panels can withstand harsh weather, Derby said.

“If there’s a lot of snow piled up on top of them, they can send a signal to tilt them all over and dump the snow,” he said.

He said they last about 25-35 years.

“Once a year, they’ll get a little maintenance, but for the most part, we work out all the bugs in the construction so it runs pretty smoothly for the next five to 10 years,” Derby said.

Half of the panels are one-sided. The other half is hypocritical.

“It takes some of the sunlight reflected off the ground or snow,” Derby said.

Although the panels are inexpensive, Baker said, they are a source that many Utahns rely on.

“We have to have different resources, whether they are renewable, we see a place for natural gas,” he said. “We still have coal in our resource portfolio, it’s going to be there for a while.”

Martin said the panels are more affordable.

“What we typically find in our fleet is that we can generate power at a lower rate than older, less efficient coal plants,” he said.

He said Steel Solar’s capital expenditures are in the $100 million range. UAMP’s member communities pay once the power comes online.

“When the project actually declares COD and starts generating power, UAMPS’s member communities pay us for the energy we produce from the project, the renewable energy, for the next 25 years,” Martin said.

The developer will own and operate these solar farms long-term.

“We basically try to develop and build clean energy projects wherever we can, and we think Utah is looking to the future, and we definitely want to meet that demand with future clean energy development,” Martin said.