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Nova buys 1GW mixed HyFuels portfolio

RICHARD HEAP

April 16, 2024

Nova Clean Energy has bought the 1GW HyFuels portfolio of mid-to-late-stage wind and solar projects in Texas from BNB Renewable Energy.

The portfolio includes projects on the Texas Gulf Coast in an area of around 25,000 acres, including an early-stage green ammonia development. The first phase of portfolio projects is due to be commissioned in 2026.

BNB Renewable Energy has developed wind and solar projects in the US and Mexico for industrial clients for 20 years, and has had a development services agreement with Nova since late 2020. They have partnered on HyFuels since mid-2023.

Ben Pratt, president of Nova Clean Energy, 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.”

Jos Nicholas, chief executive of BNB, said: “A lot of important stakeholders have come together to help us get to this point… 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 was formed in 2022 and has a 5GW portfolio of wind, solar and battery storage projects in eight US states.