Oregon Department of Energy awards Cycle large grant for solar + storage project
After a long and thorough review process, the Oregon Department of Energy has allocated $250,000 in grant funds to Cycle’s solar project located in Christmas Valley, Oregon. The site’s 4,600-feet elevation makes the region the most productive solar resource in the state. Once completed, Stone House Solar will have minimal impact on the area’s wildlife and their habitat, and it will provide economic and environmental benefits to the surrounding community. Click below for the full press release.
Cycle founder wins S&P Global Platts 2015 financial deal of the year.
Peter Blood developed and executed a highly profitable engineered-power sales / hedge off-take, transmission, and virtual delivery hedge with Apex Clean Energy, First Reserve, Gulf Power Company and Morgan Stanley Commodities Group for the 300 MW Kingfisher Wind Project located in Oklahoma and Florida. The project financially supported Kingfisher Wind while Peter acted as a co-developing consultant and then Vice President of Origination at Apex Clean Energy.
Swedish clean-tech company, Climeon, and Cycle ink first low-temperature geothermal equipment and financing deal in the U.S.
Unlike other renewable energies, geothermal power runs 24/7 and provides the same regulating power as coal or oil-fired power plants. As part of the heat power category, geothermal is often cheaper than solar and wind and requires much less physical space; the total potential for geothermal power in the US is significant. According to the California Energy Commission, geothermal power already delivers over 17% of the state’s total renewable energy portfolio with an installed base of 2,700 MW.
Looking forward, if Climeon covered only 5% of the geothermal power in California, the expansion would significantly reduce CO2 levels in California and generate over one billion dollars’ worth of business for Climeon.
Cycle closes acquisition of Montana wind project.
As of mid-2017, Cycle owns Horseshoe Bend Wind, a mature operating wind project in central Montana outfitted with GE technology.