Drafting vs. Engineering: Choosing the right partner for commercial projects

Cadeler has signed a firm contract with Ocean Winds for the transportation and installation of 26 Siemens Gamesa 14MW offshore wind turbines at the BC-Wind offshore wind farm in the Polish Baltic Sea. The signing of this firm contract follows the Vessel Reservation Agreement (VRA) signed in February 2025 between Cadeler and Ocean Winds.

When fully completed, BC-Wind will have a total capacity of up to 390 MW, supplying clean electricity to nearly half a million Polish households. The Project is located about 23 km from the Polish coastline, north of the Pomeranian Voivodeship. It is Ocean Winds’ first project in Poland and will play an important role in the country’s ambitious offshore wind plans.

The installation is set to start in 2028 and to continue for approximately 4 months. Cadeler will deploy one of its O-class wind turbine installation vessels and will operate from the Port of Gdańsk in Poland.

Cadeler and Ocean Winds have worked together previously, most recently on the Moray West offshore wind farm off the coast of Scotland, but this contract represents their first direct contractual partnership.

Mikkel Gleerup, CEO of Cadeler, comments: “With this firm contract now signed, we are ready to bring our best-in-class fleet and experienced crews to support Ocean Winds on this important project. Poland is establishing itself as a key offshore wind market in Europe, and this project will be a significant step in strengthening the country’s renewable energy ambitions. We look forward to expanding our presence in the Polish Baltic Sea, building on the strong pipeline of projects we have already secured in the region.”

Strong position in the Polish offshore wind market

This project reaffirms Cadeler’s strong position in the Polish offshore wind market and is a natural continuation of four other milestone projects in Cadeler’s Polish pipeline.

This July, Cadeler began installation work on the Baltic Power project, which will become Poland’s first offshore wind farm. From the Port of Rønne on the Danish island of Bornholm, Cadeler will execute the transportation and installation of 76 Vestas 15 MW turbines. The 1.2 GW project will have the capacity to power over 1.5 million households with green energy once fully commissioned next year.

In February 2024, Cadeler signed a contract with Ørsted and PGE Polska Grupa Energetyczna for the transport and installation of Siemens Gamesa 14 MW turbines at Baltica 2, part of the Baltica Offshore Wind Farm. The project is scheduled for completion by the end of 2027.

In October 2024, Cadeler signed firm contracts with Equinor and Polenergia joint ventures for the installation of two offshore wind farms, Bałtyk 2 and Bałtyk 3, with operations scheduled to begin in 2027.

Cadeler | www.cadeler.com

Ocean Winds | https://www.oceanwinds.com/

kWh Analytics, the market leader in Climate Insurance, announced the successful close of a parametric Wind Proxy Hedge risk transfer deal, this time for a 79MW wind project in Virginia developed by Apex Clean Energy. This innovative financial structure utilized the kWh Analytics Indifference Structure for debt sizing, with Munich Re providing the parametric hedge and MUFG and CIBC serving as lenders to the project.

The wind proxy hedge paired with the kWh Analytics Indifference Structure addresses wind resource volatility by adding investment-grade cash flow above the P99 wind speed scenario, substantially improving the project's credit profile and enabling higher debt capacity.

The structure's implementation with a marquee sponsor in the wind space helps to demonstrate the growing market adoption of this innovative risk transfer solution. The structure generates approximately $7 of additional debt for every dollar of premium paid during the mini-perm period. The hedge provides coverage for wind speeds below a specified meters-per-second threshold, addressing the most challenging downside scenarios.

"Implementation of the Wind Proxy Hedge structure went smoothly, and we are evaluating this product on additional projects," commented a representative from Apex Clean Energy. "The ability to materially improve project returns while reducing equity requirements makes this an attractive financing tool in our development portfolio."

Geoffrey Lehv, SVP & Head of US Accounts for kWh Analytics, noted the broader market implications: "We are thrilled to have contributed to the success of the Rocky Forge Project and excited to execute on this structure with such an experienced sponsor and banking partners.”

Bill MacLauchlan, CEO Munich Re Trading LLC, commented: "The success of this Wind Proxy Hedge transaction demonstrates the market's recognition of this innovative risk transfer solution.”

kWh Analytics served as advisor to Munich Re during the structuring process, applying their expertise in renewable energy risk transfer products and the proprietary Indifference Structure. MUFG and CIBC acted as coordinating lead arrangers for the debt financing.

kWh Analytics | https://www.kwhanalytics.com/

Mitsubishi UFJ Financial Group | www.mufgamericas.com

Ameresco, Inc. (NYSE: AMRC), a leading energy solutions provider, has secured a contract with Kimberly-Clark UK to serve as the Engineering Service Provider for the design and construction phases of the UK's first Green Hydrogen Program in the consumer goods sector. Kimberly-Clark, known for its leading household brands including Andrex® and Kleenex®, is taking a pioneering step as the first major consumer goods company in the UK to commit significantly to green hydrogen technology at its plants located in Barrow-in-Furness, Cumbria, and Northfleet, Kent.

In this vital collaboration, Ameresco will work closely with Kimberly-Clark to develop the installation of five new dual-fuel Hydrogen/Natural Gas Boilers at both facilities. This innovative project will involve the development of new and refurbished boiler houses and infrastructure, establishing a seamless connection between the design and the new Hydrogen Production Facilities to enable effective hydrogen consumption while maintaining a backup from natural gas.

The dual-fuel boilers are expected to become operational in 2027 and are projected to reduce natural gas consumption by 50%, resulting in a significant decrease in carbon emissions, an estimated reduction of 28,500 tonnes annually.

Mark Apsey MBE, Senior Vice President at Ameresco, expressed his enthusiasm for the project: “We are thrilled to partner with Kimberly-Clark on this groundbreaking initiative within the industrial sector. The role of hydrogen is pivotal in driving decarbonisation efforts across industries with moderate to high process temperature needs. Ameresco's extensive expertise in delivering green energy solutions, mean we are ideally placed to support this innovative project.”

This collaboration marks a significant milestone not only for Kimberly-Clark but also for the UK's commitment to sustainable practices and the adoption of green hydrogen technology in the industrial landscape.

Ameresco | www.ameresco.com

SolarEdge Technologies, Inc. (NASDAQ: SEDG), a global leader in smart energy technology, announced a landmark achievement in its manufacturing strategy to deploy American-made solar technology around the world. The Company’s first international shipments are now underway, marking a key step in delivering high-quality, competitive, American-made products to international customers across the globe.

The first exports for the residential solar segment are now being shipped to international customers in Australia, with shipments to additional international markets expected in the fourth quarter of 2025. Commercial and industrial (C&I) solar products are also on track to begin international shipments in the fourth quarter of 2025.

This milestone builds upon SolarEdge’s broader U.S. manufacturing strategy, which includes residential solar and storage production, and C&I solar production across manufacturing facilities in Florida, Texas and Utah. Additionally, these facilities serve U.S. customers seeking to qualify for clean energy tax credits including the use of domestically manufactured, non-PFE (Prohibited Foreign Entity) technology.

Shuki Nir, Chief Executive Officer of SolarEdge: “We are proud to announce that we have begun shipping our first U.S.-manufactured products to international customers this quarter with expansion to additional products and markets expected in Q4. Exporting U.S.-manufactured products signals to our customers that we are prepared to meet growing demand for American-made quality, reliability and innovation, both in America and around the world.“

SolarEdge | solaredge.com

Sakuu, a leading provider of commercial-scale equipment and technologies to the battery and supercapacitor manufacturing industries, is collaborating with International Battery Company (IBC) to use the Sakuu Kavian 2000 platform for dry-process production of current and next-generation battery and supercapacitor solutions.

Kavian is the world’s first manufacturing solution to dry-print electrodes, a breakthrough innovation proven to significantly address battery and supercapacitor manufacturing challenges such as scalability, sustainability, safety, and performance, while also reducing cost. IBC will use Kavian to manufacture the IBC Prabal 6000 product line of prismatic solid-state batteries as well as the IBC Prabal 4000 product line of prismatic supercapacitors for AI-focused data center applications.

“Sakuu is offering a truly innovative and practical solution to the key bottlenecks in the battery manufacturing process with their elegant yet cost-effective Kavian Platform,” said Dr. Priyadarshi Panda, founder and CEO of International Battery Company. “Through almost a year of close collaboration on dry electrodes for IBC’s commercially selling Prabal 1000 prismatic cell line, the IBC team is convinced that Sakuu is the right partner to help us broaden the accessibility of future advanced cell technology for underserved players in mobility and storage. We’re enthusiastic to see where this relationship takes us as we ready our gigafactory to ramp up expansion to meet growing cell demand.”

IBC is a pioneering startup committed to transforming the battery cell manufacturing landscape through product innovation to address underserved customers looking for customized best-fit cell solutions as opposed to one-size-fits-all. It specializes in prismatic form-factor cells for the mobility and storage sectors, with its Prabal 1000 product line having serviced over 200,000 miles on over 1,000 vehicles deployed in hot, challenging conditions in India. In addition to its existing development center spanning 35,000 sq ft with production capacity of 50 MWh in South Korea, IBC’s subsidiary in India, a joint venture with part state-owned entity Mahanagar Gas Limited (a GAIL – Gas Authority of India subsidiary), is in the process of finalizing a state-of-the-art gigafactory in Bengaluru (Karnataka), for producing safe, long cycle-life, high-performance battery packs for mobility and non-grid storage (UPS, industrial, telecom, data center) solutions.

“We’re delighted to have IBC as a deep strategic collaborator,” said Robert Bagheri, founder, CEO and executive chairman of Sakuu. “Technology-forward companies like IBC recognize the need for cutting-edge manufacturing equipment and processes to build supercapacitors and batteries for the AI era. After decades of only incremental change to the battery manufacturing process, Sakuu innovations enable OEMs and cell producers like IBC and its partners to scale up production to support the growth, sustainability and efficiency demands of the future.”

The advantages of Kavian

Kavian dry-prints electrodes in a variety of chemistries, and allows for rapid innovation while reducing waste and avoiding toxins. OEMs can rapidly test and refine new battery designs and material using the size, shape, and specifications that fit their products. Compared to traditional wet-coated electrode manufacturing, Kavian’s dry-process production meets or exceeds standard performance and quality while also supplying benefits for battery and supercapacitor manufacturing in sustainability, cost-savings and efficiency. These include:

• 100% elimination of toxic solvents and water
• 60% smaller footprint for manufacturing floor space
• 56% savings in utility operating costs
• 55% reduction of CO2 emissions
• 20% reduction in capital equipment costs

Contact the Sakuu team to request more details or visit booth 3752 at The Battery Show in Detroit from October 6-9.

Sakuu | www.sakuu.com

International Battery Company | www.ibcbatt.com

GridStor, a developer and operator of utility-scale battery energy storage systems, announced that it has acquired the 100 MW / 400 MWh White Tank battery storage project in Arizona from Strata Clean Energy. The project will be operated via a 20-year tolling agreement with Arizona Public Service (APS), the state’s largest electric utility serving approximately 1.4 million homes and businesses. The project is sited in Maricopa County and is expected to be placed in service in the first half of 2027. Strata will continue to serve in a consultative role for the project until commencement of commercial operations.

“Through this acquisition, GridStor is proud to extend our commitment to supporting Arizona utilities to meet the fast-growing power needs of their residents and businesses,” said Chris Taylor, CEO of GridStor. “Battery storage remains a highly scalable, cost-effective and near-term solution to powering rapidly growing energy capacity needs across the Southwest. We look forward to serving as a trusted partner to APS to meet the needs of Arizona’s residents and businesses.”

GridStor’s acquisition and plan to construct additional standalone battery storage in Arizona come as the state experiences rapid demand growth, with APS and other utilities in the state setting new all-time records for peak power demand this past August. Under its tolling agreement, the White Tank battery storage project will allow APS to charge and discharge electricity as needed, helping to ensure customers have access to power when they need it most and sustain the region’s expanding population and new industrial facilities.

“Strata is proud to play a foundational role in advancing Arizona’s clean energy infrastructure,” said Markus Wilhelm, Chief Executive Officer of Strata Clean Energy. “The White Tank project reflects our commitment to delivering grid-scale solutions that support utility partners like APS in meeting rising demand with reliability and resilience.”

The successful close of the project marks GridStor’s fourth acquisition within the last twelve months and its second in Arizona. Backed by Goldman Sachs Asset Management, GridStor manages a project pipeline of over 5 GW of battery storage projects in later-stage development or under construction across the western and central U.S. The company expects to continue acquisitions of advanced-stage projects that provide cost-effective, near-term solutions to utilities, data centers, and other large industrial customers in regions with rapidly growing energy demand.

GridStor | www.gridstor.com 

Strata Clean Energy | www.stratacleanenergy.com

Veloz, a national nonpartisan 501(c)(3) nonprofit, announced that its Electric For All electric vehicle (EV) education program called 'The Way Forward is Electric' has reached hundreds of millions of consumers nationwide with educational, fact-driven creative messaging about the benefits of EV ownership in just the first two months of the year-long effort.

Launched July 1, the campaign began with key messages on the benefits of EVs, including cost savings, lower maintenance, ease of charging, and plenty of range. When Congress ended the federal EV tax credit early, Veloz quickly pivoted the campaign messaging to inform consumers of the incentive timeline and that they could still qualify by contracting and placing a down payment on an EV by September 30—even if they did not take possession of the vehicle by that date.

The campaign drives consumers to ElectricForAll.org as a resource to access federal, state and local incentives and rebates by zip code. This website resource will continue to provide state and local incentives and show drivers all the ways they can save by switching to an EV.

“Americans are deeply concerned about the cost of living right now,” says Josh D. Boone, Executive Director of Veloz. “So, we’re focusing on the financial benefits of EVs through both short-term incentives and long-term savings.”

This nimble, research-informed campaign has yielded impressive results. Since its launch, the campaign has generated 425.5 million paid media impressions, over 990,000 website visits to ElectricForAll.org, and over 220,000 visits to the incentive resources by consumers seeking information about how to make the switch more affordably. Consumers across the nation—from Texas and Florida to California, Georgia, Washington, New York and beyond—are visiting ElectricForAll.org to learn more about the benefits of driving electric.

“Just because the federal incentives are sunsetting doesn't mean EV adoption will stall,” continued Boone. “Veloz's mission with this education campaign is to ensure consumers understand the benefits beyond tax credits and to equip drivers with the information they need to make smart, confident choices.”

Automakers are seeing consumer interest increase this quarter. General Motors reported more than 21,000 EVs sold in August—its best month ever—and Ford EV sales jumped nearly 19% from July, as buyers raced to secure the $7,500 federal tax credit. Overall, national sales of EVs reached a record 146,332 in August. With the EV tax credit set to expire, Cox Automotive predicts September sales will result in an all-time record for EV sales in the U.S. for a single quarter.

“Although we are only a few months in, the campaign has already had incredible impact in cutting through misinformation and reaching consumers where they are,” Boone added. “EV sales will continue to grow if we spark interest and build consumer confidence by answering the tough questions: ‘Where do I charge?’ ‘How much money can I save?’ ‘What happens when federal incentives end?’”

With $43.5 million in funding from Electrify America, the Electric For All campaign is also supported by Veloz members including automakers, nonprofits, utilities, state agencies, ride-share companies, and charging providers—making it the nation’s largest and most collaborative EV public education program in the U.S.

At its core is ElectricForAll.org, which is a multilingual hub available in 15 languages, including English and Spanish. It offers easy tools to find gas and maintenance savings, compare new and used EVs, find available state and local incentives by ZIP code, locate charging stations, and understand long-term cost savings, making EV ownership more accessible and affordable for every community.

“Working with industry, policy, and advocacy experts, we’ve shown that when the EV industry comes together, we can build momentum that lasts beyond a single policy or incentive,” concludes Boone.

Electric For All | https://forward.electricforall.org/?