Silicon Ranch Closes Equity Investment, Announces TVA Partnership

It’s been a busy Spring for TAEBC Charter member, Silicon Ranch Corporation. The Nashville-based developer, owner and operator of solar energy plants in the U.S. announced in late April that the company has closed on a $100 million equity investment from Partners Group, a global private markets investment management firm.

silicon-ranch-logoOn the heels of the investment, Silicon Ranch also announced the awarding of a long-term power purchase agreement for a 53 MW solar project at Naval Support Activity in Mid-South in Millington, Tenn. The solar array will be the largest in Tennessee and will provide power to TVA customers for the next 20 years.

Both of these announcements further demonstrate Silicon Ranch’s commitment to the development of the advanced energy sector within Tennessee.

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Silicon Ranch President & CEO Matt Kisber at Nashville headquarters.

The platform investment from Partners Group “will allow Silicon to accelerate its business model of developing to own all projects for the long-term.” said Silicon Ranch President and Chief Executive Officer Matt Kisber, who is also TAEBC’s Board President.

While the solar industry is experiencing a rapid, and dynamic expansion in the U.S., Tennessee remains poised to capture a significant share of the solar market with projects such as the 53 MW solar array in Millington.

According to TVA and Silicon Ranch, the project will occupy over 400 acres and feature a single-axis tracking system to allow an estimated 580,000 panels to follow the sun across its daily arc. To support the facility, Silicon Ranch acquired 330 acres from the Millington Industrial Development Board and signed a real-estate lease with the Department of the Navy for another 72 acres of base land at NSA Mid-South. The capacity generated on the Navy’s property will contribute to the department’s One Gigawatt initiative to enhance energy security and resiliency. The project includes electrical infrastructure upgrades to provide additional benefit to NSA Mid-South.

Silicon Ranch has been a mover for several years in many geographies and was responsible for the first large-scale solar facilities in Tennessee, Georgia, Arkansas, and Mississippi. Silicon Ranch recently completed its first projects in Colorado and will significantly expand its portfolio across the U.S. over the next 18 months through organic growth and strategic corporate development.

Silicon’s additional Tennessee solar projects include the Volkswagen Chattanooga Solar Farm, Hospital Corporation of America, Memphis Bioworks and Memphis Agricenter.

TAEBC applauds Silicon Ranch for its continued success and commitment to being a driver of advanced energy advancement in Tennessee and thanks TAEBC Matt Kisber for his support of the organization.

For more information about Silicon Ranch, visit siliconranchcorp.com.

 

Advanced Energy Now 2016 Market Report Announces Advanced Energy Markets Are Bigger Than Ever

The future looks bright indeed for advanced energy markets. According to the recently released Advanced Energy Now 2016 Market Report, prepared for AEE Navigant Research, advanced energy is a $1.4 trillion global industry, as big as fashion, twice the size of airlines, and close to worldwide spending on media and entertainment.

USAEvsAirlinesPharmaConsumerElectThe report further states that the U.S. advanced energy market is now $200 billion, more than pharmaceutical manufacturing, and approaching wholesale consumer electronics. Energy sector growth highlighted in the report includes: Solar PV revenue grew 21% over last year, wind was up 75%, building efficiency grew 11%, and energy storage multiplied over 10 times year-to-year.

This is the fourth annual report of market size, by revenue, of the advanced energy industry, worldwide and in the United States and is the most comprehensive assessment of advanced energy markets compiled to date. The report includes five years of revenue, starting with 2011. Highlights from the U.S. market include:

  • Building Efficiency is the largest advanced energy market segment, with $63.6 billion in revenue and 50% growth over 2011, counting only products for which we have all five years of data.
  • Solar continues to be a dynamic growth story in the U.S. Even as costs have declined by nearly 50%, revenue from Solar PV reached$22.6 billion, up 21% over last year and nearly triple 2011 revenue.
  • Wind showed strong growth for the second year in a row, continuing to climb back from a low point in 2013 to reach $14.4 billion in 2015, up 75% over last year.
  • At $734 million, revenue from Energy Storage grew 12 times over 2014. This game-changing technology can provide grid support services, meet peak demand needs, and store variable renewable energy generation until it’s needed.
  • Ethanol revenue declined by a third over last year. The price of ethanol in the United States tends to follow the price of gasoline. Historically low oil prices brought Ethanol revenue from $40.9 billion in 2014 to $27.3 billion in 2015.
  • Revenue from Plug-in Electric Vehicles in 2015 grew seven times over 2011. At nearly $5 billion, revenue from PEVs in 2015 was nearly half that of hybrids, a more established class of advanced vehicle.

Download your free copy today here.

Reflecting on TAEBC’s 2015 Achievements & the Year Ahead

With a new year well underway, it’s time for the Tennessee Advanced Energy Business Council (TAEBC) to take inventory of 2015’s successes while charting a course for 2016.

TAEBC has grown to become a leading voice for our advanced energy economy, championing both the state and national opportunities to capture our more than fair share of the $1.3 trillion global advanced energy market.

Screen Shot 2016-01-05 at 3.54.53 PMFrom hosting Assistant Secretary David Danielson and Deputy Assistant Secretary Reuben Sarkar to an invitation to the White House and releasing the state’s first Tennessee Advanced Energy Economic Impact Report, 2015 proved to be a year in which the TAEBC voice was heard clearly on a state, regional and national level.

In anticipation of our annual membership meeting in Nashville, TAEBC shares our top 10 accomplishments from 2015.

TAEBC Top 10 Year in Review

  1. Tennessee Advanced Energy Economic Impact Report, the first document of its kind that defines the scope and scale of the state’s advanced energy sector and quantifies its economic impact. The report received statewide media coverage and recognition of advanced energy as an economic driver for Tennessee and a source of high quality jobs.
  2. U.S. Department of Energy Assistant Secretary David Danielson Listening Session in Chattanooga, creating an opportunity for members to provide input on how DOE can continue to impact our economy.
  3. White House Forum on Connecting Regional Innovation Ecosystems to Federal and National Labs, attended by TAEBC President Tom Ballard with the purpose to ensure that federal labs continue to do more for regional economies.
  4. Tennessee Valley Authority’s Integrated Resource Plan (IRP), which looks at how TVA will meet energy needs over the next 20 years. A group of our members formed a small sub-committee and worked together to draft and submit comments relevant to our mission— advanced energy as an economic development strategy.
  5. TVA’s newly formed stakeholder group, Distributed Generation – Information Exchange. TAEBC was selected to serve on this stakeholder group, sharing industry expertise to inform TVA’s distributed generation policies.
  6. American Energy and Manufacturing Competitiveness Summit & Annual visit to Washington D.C. TAEBC delegates met with representatives from the U.S. Department of Energy and Senator Lamar Alexander and Congressman Chuck Fleischmann.
  7. “Opportunities in Energy” with U.S. Department of Energy Deputy Assistant Secretary for Transportation Reuben Sarkarfeaturing panel discussions on advancements in the automotive industry, advanced energy job growth, and power generation.
  8. DOE Director of the Office of Economic Impact and Diversity at Oak Ridge National Laboratory and minority business owners. TAEBC presented to this group, showcasing how advanced energy can be used as an economic development tool.
  9. Clean Energy Manufacturing Initiative’s (CEMI) Southeast Regional Summit, hosted by DOE. TAEBC spoke to manufacturers, innovators, and federal and regional resources about our unique approach to advanced energy as an economic development strategy.
  10. Welcome new members: Schneider Electric, Tennessee Department of Environment and Conservation, Windrow Phillips Group, Dr. Bill Carswell, Hitachi, One Scientific, Trane, Shoals Technologies Group, Bradley Arant Boult Cummings, LLP, Cherokee Farm, Dadeni Solar, LLC, Alstom (Charter Member), Nazzy Hashemian, and Balfour Beatty Investments.

Without a strong membership, TAEBC could not be the successful organization it is today. An organization with a powerful mission of fostering the growth of Tennessee’s advanced energy technologies, companies and jobs, helping the state gain its fair share of the global $1.3 trillion advanced energy market.

Save the date for the next membership opportunity, Wednesday, February 10th in Nashville, and help plan for a successful 2016.

 

 

TN Advanced Energy Economic Impact Report: Snapshot of media coverage

On June 17, the Tennessee Advanced Energy Business Council released the Tennessee Advanced Energy Economic Impact Report, the first document of its kind that defines the scope and scale of Tennessee’s advanced energy sector and quantifies its economic impact.

The report received statewide media coverage and recognition of advanced energy as an economic driver for Tennessee and a source of high quality jobs. It was distributed to more than 200 local, state and national economic development stakeholders.

Here’s a snapshot of the media coverage from the report release, with links to the full stories. Enjoy!

Tennessee could be a major player in $200B advanced energy economy (Knoxville News Sentinel)
“Tennessee is poised to take a significant chunk of the nation’s $200 billion advanced energy sector according to a new report from the Tennessee Advanced Energy Business Council. The state’s advanced energy sector employs nearly 325,000 individuals…and the jobs pay well above the state average.”

Advanced energy industry grows in Tennessee (Chattanooga Times Free Press)
“Much of the growth in Tennessee is being driven by the automotive industry, which is working to reach a fleet average mileage standard of 54.5 miles per gallon by 2025.”

Report: Tennessee leader in ‘advanced energy’ (The Tennessean)
“’We see advanced energy as an economic driver, especially in rural areas,’ said Steve Bares, president and executive director of Memphis Bioworks Foundation.”

New report tracks Tennessee’s economic impact in ‘advanced energy’ sector (Kingsport Times-News)
“Advanced energy provides a home for Tennessee’s emerging workforce as the state attempts to get 55 percent of Tennesseans equipped with a college degree or certificate by 2025.”

Study: Advanced energy business contributes $33.4 billion to state GDP (Memphis Business Journal)
“Schneider Electric’s Jim Plourde said compiling the information was important for increasing visibility, highlighting Tennessee as a leader in the field, showcasing opportunities to an emerging workforce and driving the economy.”

Budding advanced energy sector grows in Tennessee (Nooga.com)
“The [advanced energy] industry provides opportunities for entrepreneurs. A developing sector means ripe opportunities for new ideas and businesses.”

TAEBC releases first-ever look at state’s advanced energy sector (Teknovation.biz)
“Advanced energy is a lucrative growth sector and a source of high quality jobs in the Volunteer State, according to a new report from the Tennessee Advanced Energy Business Council (TAEBC).”

Schneider Electric among state leaders in advanced energy sector (Daily News Journal)
“’National studies show rapid growth that outpaces the rest of the economy,’ said Matt Murray, with the Howard Baker Jr. Center for Public Policy, which produced the report. He added it also found employment growth in the sector was more robust than any other sector from 2012 to 2013.”

TAEBC presents to Department of Energy Director of Economic Impact and Diversity

The Tennessee Advanced Energy Business Council (TAEBC) recently presented to the U.S. Department of Energy (DOE) Director of the Office of Economic Impact and Diversity, The Honorable LaDoris “Dot” G. Harris, along with roughly 10 minority business owners at Oak Ridge National Lab (ORNL) (pictured below).

Information about the business council and its case for advanced energy as an economic development tool was presented. The feedback was overwhelmingly positive and Director Harris expressed her appreciation of TAEBC’s approach to mapping assets, connecting assets with private sector opportunity and championing advanced energy as an economic development strategy.

Now that we’ve met, TAEBC will stay in contact with Director Harris’ office to advance our mutual interests.

Photo credit: Image courtesy of Oak Ridge National Laboratory, U.S. Dept. of Energy.  Photographed by Jason Richards.

Photo credit: Image courtesy of Oak Ridge National Laboratory, U.S. Dept. of Energy. Photographed by Jason Richards.