Great Bay Renewables Announces Financing for Development Partner Hexagon Energy to Fund PJM Interconnection Deposits

The entire Hexagon Energy team is excited to announce that we have entered into a follow-on transaction with Great Bay Renewables, LLC (“Great Bay”) for up to $30 million to support our upcoming interconnection security requirements to advance our 3.4 GW PJM portfolio in the interconnection process.

Frank Getman, CEO of Great Bay, commented, “The Hexagon team continues to impress us with its development expertise. Building on our 2023 royalty investment and 2024 interconnection deposit facility, this financing will ensure that Hexagon can continue to advance key projects and maximize the value of its increasingly impressive portfolio of high-quality projects.”

We are thankful for our ongoing relationship with the Great Bay team and look forward to continuing to develop high-quality clean energy projects across PJM, MISO, and other markets across the United States.

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Julia Wood
1,200-megawatt solar facility acquires phase two special-use permit

Phase two of what could end up as one of the largest solar facilities in the U.S. got a green light from the Lee County Board on Thursday.

Lee County Board members voted 11-3-3 to issue a special-use permit to Hexagon Energy LLC, a Virginia-based company doing business in Illinois as Steward Creek Solar LLC, for phase two of a 1,200-megawatt commercial solar energy facility in Alto and Willow Creek townships.

“Phase two will produce enough clean energy to power approximately 116,300 homes and generate approximately $3.9 million in annual local tax revenue, totaling approximately $87 million over the 35-year project term,” according to Hexagon Energy’s special-use permit application.

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Meghan Byrnes
Developer Hexagon selling 2GW standalone ERCOT BESS pipeline

Hexagon Energy is in talks with investment bankers to sell a portfolio of battery storage projects in ERCOT, Texas, totaling 2GW. The 17 projects aim to achieve commercial operation by Q3 2025, featuring two-hour batteries. There is a potential delay in the commercial operation date to secure domestic content for a 10% uplift in the investment tax credit.

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Meghan Byrnes
Foxglove Solar Awarded Permit

Hexagon Energy was awarded a Conditional Use Permit for a 0.99 megawatt community solar project in Winthrop, Maine. The entire project site will be just under 7 acres on an undeveloped site that recently underwent timbering.

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Meghan Byrnes
Exciting Partnership Announcement: Hexagon Energy and Great Bay Renewables Join Forces!

We are thrilled to share the exciting news that Great Bay Renewables, a subsidiary of Altius Renewable Royalties, has made a substantial investment of $45 million in Hexagon Energy. This strategic financing marks a major milestone in our journey towards advancing renewable energy solutions. Our shared goal is to accelerate the transition to a sustainable future by delivering clean and reliable power solutions nationwide.

We express our deepest gratitude to our stakeholders, partners, and the entire Hexagon Energy and Great Bay Renewables teams for their unwavering support in making this partnership a reality. Together, we will drive innovation, promote environmental stewardship, and build a sustainable energy infrastructure that will benefit current and future generations.

Now let's lead the charge towards a cleaner, more sustainable world!

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Julia Wood
US Representative Jennifer McClellan Joins Press Conference on Expansion of Green Business Alliance

The Community Climate Collaborative (C3) announced the expansion of its Green Business Alliance today with the help of special guest U.S. Representative Jennifer McClellan. 26 Virginia-based businesses and non-profits have made a collective commitment to reduce emissions and advance our economy for a clean energy future. In 2021, the 16 founding members of the Green Business Alliance (GBA) committed to a collective emissions reduction target of 45% by 2025. This new cohort of 10 members has committed to a 35% emissions reduction by 2027. Each member also has an individual pledge to take action, ranging from a minimum of 30% and a maximum of 90%.

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Meghan Byrnes
Planned solar farm in Albemarle County could power half of its homes

Aplanned solar farm in Albemarle County that could conservatively power more than half of the county’s households is well on its way to a ground-breaking within the next year.

County supervisors and the project’s developer say the 650-acre, 35-megawatt Woodridge Solar project in southeastern Albemarle can, and should, be a model for other communities.

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Meghan Byrnes