Nova Clean Energy acquired HyFuels, a 1-gigawatt portfolio of projects that includes solar, wind and early-stage green ammonia on the Texas Gulf Coast. (Source: Shutterstock)
Nova Clean Energy, a portfolio company of investment firm Bluestar Energy Capital, has acquired HyFuels, a 1-gigawatt (GW) portfolio of projects that includes solar, wind and early-stage green ammonia on the Texas Gulf Coast, the company said April 16.
Covering about 25,000 acres near the petrochemical industry, HyFuels’ power supply will be split evenly between wind and solar energy. The first phase of the project is expected to reach full notice to proceed in 2025, with commercial operations starting in 2026.
The acquisition from BNB Renewables follows a partnership that began in mid-2023. The two have worked together to advance the HyFuels complex, including completing necessary environmental surveys, securing a workable schedule for connection to the power grid and ordering long lead-time equipment, according to a news release.
“The Texas grid is going to continue to need a variety of power sources to serve its fast-growing demand,” said Nova Clean Energy President Ben Pratt. “Wind paired with solar provides a generation profile that industrial as well as utility customers increasingly want to see. We are excited to work with BNB on this important portfolio.”
Nova said its project pipeline now exceeds 5 GW with projects in eight states and multiple power markets.
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