Nova Acquires 1 GW Solar, Wind Development Asset Portfolio from BNB

Nova Clean Energy has acquired HyFuels, a 1 GW portfolio of mid-to-late-stage wind and solar development projects as well as an earlier stage green ammonia project located on the Texas Gulf Coast. 

HyFuels, spread over approximately 25,000 acres, has its power supply split evenly between wind and solar. The first phase of the project is expected to reach Full Notice to Proceed next year and commercial operations in 2026.  

Nova has entered into a long-term development services agreement with BNB Renewable Energy, from whom Nova acquired HyFuels. 

“The Texas grid is going to continue to need a variety of power sources to serve its fast-growing demand,” says Ben Pratt, president of Nova. “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.”