Nova Clean Energy has completed the acquisition of the HyFuels project, a 1-gigawatt (GW) wind-solar and power-to-x project located on the Texas Gulf coast in the United States.
The HyFuels project comprises mid-to-late-stage wind and solar development projects, along with an earlier stage green ammonia project. Nova acquired HyFuels from BNB Renewable Energy, a reputable wind and solar developer with a 20-year track record of developing projects across the United States and in Mexico.
Nova has entered into a long-term development services agreement with BNB, ensuring alignment on the successful delivery of the HyFuels project. Since partnering in mid-2023, Nova and BNB have advanced the project, completing necessary environmental surveys, securing a grid connection schedule, and ordering long lead-time equipment.
HyFuels' power supply is evenly split between wind and solar, providing a complementary generation profile for a steady supply of clean power. The first phase of the project is expected to reach full notice to proceed in 2025, with commercial operations slated for 2026.
Ben Pratt, President of Nova Clean Energy, expressed enthusiasm for the project, stating, “The Texas grid is going to continue to need a variety of power sources to serve its fast-growing demand. 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.”
Jos Nicholas, CEO of BNB, also shared his excitement for the project, saying, “This is an exciting project, and we're pleased to have partnered with the Nova Clean Energy team to bring it to market. A lot of important stakeholders have come together to help us get to this point, and we want to thank the landowners, community members, and local officials for their ongoing support.”
