SAINT AUGUSTINE, FLORIDA, Feb. 09, 2021 (GLOBE NEWSWIRE) -- NTE Energy plans to develop more than 5 GW of clean energy projects in the next five years, the company announced today.
NTE is currently working with investment partners to advance development of a clean energy project pipeline that includes 1.2 GW of solar and 3.9 GW of battery energy storage systems (BESS), with 3,000 to 4,000 MW expected to reach commercial operation by 2026.
“Advances in clean energy technology and strong market demand for renewables are positioning 2021 to be a record year,” said Steve Remen, NTE managing director of renewable energy resources. “Building on our deep customer relationships and strong track record of successful project development experience, we have created a geographically diverse pipeline of solar and storage projects across the United States.”
NTE’s clean energy pipeline currently includes early-stage development of renewable and storage assets to be located in the ISO-NE, MISO, ERCOT, NYISO, SERC, PJM and WECC markets. Some of these projects will be co-located with new or existing thermal generation projects, providing economies of scale.
“Using highly efficient natural gas generation to complement intermittent renewable energy provides our customers with firm, low-cost energy,” Remen said. “By co-locating renewable projects with thermal generation, we can offer customers access to affordable renewable energy options backed up by reliable natural gas.”
The NTE team has developed a total of 127 GW of energy projects, including wind, solar, combined cycle natural gas, coal, oil, biomass, hydro and more. In the past three years, NTE has developed, financed, constructed and commissioned 950 MW of generation projects. In addition to its clean energy pipeline, NTE has 2,700 MW of natural gas-fired electric generation in various stages of development, including the 650 MW Killingly (Connecticut) Energy Center, which is expected to begin construction this year.