by Midrocket | Dec 18, 2020 | 2020, Press Releases, Sustainability
WSC is proud to announce we have become a sponsor of Club Deportivo Remo Kaiku.
CDR Kaiku, which was founded in 1923, is one of the oldest rowing clubs in the country and an important pillar of the Bilbao community.
It currently has over 100 rowers and 54 technical professionals and competes in all categories and age groups.
by Midrocket | Dec 3, 2020 | 2020, Press Releases White Summit Capital Launches a Pioneering Green Hydrogen Project (BENORHT2) in Collaboration with Castleton Commodities International, Bizkaia Energía, Nortegas and SENER White Summit Capital, Castleton Commodities International LLC (CCI), Bizkaia Energía S.L., Nortegas and SENER are delighted to unveil the launch of BENORTH2, an ambitious 20MW green hydrogen project in the Basque Country, Spain. The project – the first of its kind in Spain – will take advantage of the existing gas and electricity infrastructure adjacent to the Amorebieta CCGT power plant site, to develop a green hydrogen plant that will avoid over 12,000 tonnes of CO2 p.a. and help drive employment in the region by giving the Boroa site a future beyond conventional generation. The utilization of existing infrastructure will be a key driver of the speed and cost competitiveness of the project. Electricity from 100% renewable sources, through certificates of origin and green Power Purchase Agreements (PPAs), will be used to power an electrolyser and generate 1,500 tons of green hydrogen (H2)per year. One of the most exciting uses for the H2 will be blending it with natural gas and injecting it into Nortegas’ distribution network, which will allow gas-users to participate in the energy transition by reducing their CO2 footprint. Other applications include using the green H2 to power the Amorebieta gas-fired Combined Cycle Gas Turbine (CCGT) plant to reduce its CO2 emissions, a H2 refuelling station on site for local fleets of hydrogen-powered heavy vehicles and supplying local industry needs, optional liquid H2 storage through chemical carrier, among others. Additionally, considering the site’s strategic location and competitive advantage in sourcing low-cost renewable energy, part of the excess H2 production could be exported or monetized through private green certificates in other European countries. The project, which will commit an initial investment of €50 million, and developed through a digital twin model, is expected to reach a prompt start of operations by the end of 2022 due to the utilization of existing infrastructure. The intention is to scale-up the project to 200MW by 2030 with a total investment of €300 million. The project is being developed and is expected to be majority owned by White Summit Capital (an infrastructure investor specialised in energy transition), and CCI (a global energy commodities firm and the majority owner of Bizkaia Energía), in collaboration with three industrial partners as shareholders: Nortegas (the 2nd largest gas distribution company in Spain), Bizkaia Energía (direct owner of the Amorebieta CCGT plant) and SENER (a leading Spanish engineering and technology group). The investment reflects the partners’ commitment to reducing emissions and promoting sustainability.
by Midrocket | Dec 2, 2020 | 2020, Press Releases
White Summit Capital Joins the Spanish Hydrogen Association (Asociación Española del Hidrógeno)
White Summit Capital is proud to announce that it has joined the Asociación Española del Hidrógeno to support and contribute to the development of the Spanish hydrogen industry. We feel very strongly about the universal benefits of hydrogen and are looking forward to collaborating with like-minded partners to turn the H2 dream into reality!
by Midrocket | Nov 23, 2020 | 2020, Press Releases
We are delighted to announce that Cintra / Ferrovial and John Laing have agreed to acquire an additional 22.5% in I-77 Mobility Partners, the company developing and operating the I-77 Express Lanes project in Charlotte (NC), at an implied valuation of US$536m for 100% of the equity.
This transaction reinforces WSC’s strong track record in the infrastructure space since our initial investment in 2015 and validates our strategy of sourcing bilateral deals in sectors where we have in-depth knowledge and actively managing them to generate above-market returns.
WSC’s world-class transportation team will continue to seek superior risk/return capital deployment opportunities alongside large industrials in a sector which currently offers a unique investment proposition, primarily in the Americas and Europe.
Cintra / Ferrovial Press Release
John Laing Press Release
by Midrocket | Oct 15, 2020 | 2020, Press Releases, Sustainability
At WSC, we have always been engaged with and supported our local communities. This is part of our ethical and social principles, which we try and exemplify every day. This year, as the COVID-19 pandemic continues to cause severe social and financial difficulties for families and businesses across the world, we have directed our charitable efforts to supporting those facing food insecurities. The economic impact of the crisis has left many people around the world on the breadline, having decreased or eliminated their income.
Angels & Sparrows is a soup kitchen in Huntersville, NC (USA), that has served over 72,508 meals since the start of the pandemic to anyone in need, without requiring proof of need.
Energía Solar San Ignacio, our renewable energy subsidiary in Mexico, donated basic food supplies to support 385 families within the Campestre Flamboyanes Community (Yucatan). The food pantries included rice, oil, sugar, toilet paper, soap, cookies, wheat flour, beans, pasta, and milk.
We are proud to be helping some of those who need it most and humbled by the effort and dedication of those behind these two benevolent causes.
by Midrocket | Mar 31, 2020 | 2020, Press Releases
White River Renewables (“White River”) has completed the acquisition of two solar photovoltaic (“PV”) plants in Mexico from JinkoSolar, one of the world’s largest and most innovative solar panel manufacturers in the world (NYSE: JKS):
– Las Viborillas, a 130MWp PV plant located in the State of Jalisco – San Ignacio, a 25MWp PV plant located in the Yucatán Peninsula
Both plants are fully operational, having reached commercial operations under their PPAs in September 2018 and May 2019, respectively.
White River is a Mexican renewable energy company jointly sponsored by Riverstone Holdings (“Riverstone”), a leading energy and power private equity firm, and White Summit Capital (“WSC”), a Switzerland-based firm specializing in infrastructure investments and asset management.
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About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to diversified international utility, commercial, and residential customers globally.
JinkoSolar has built a vertically integrated solar product value chain, an annual capacity of 11.5 GW for mono wafers, 10.6 GW for solar cells, and 16 GW for solar modules, as of December 31, 2019.
JinkoSolar has over 15,000 employees across its 7 production facilities and 14 overseas subsidiaries globally.
Riverstone is an energy and power-focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with over US$39 billion of equity capital raised to date. Riverstone conducts private equity and credit investments in the exploration & production, midstream, oilfield services, power and renewable sectors of the energy industry.
With offices in New York, London, Houston and Mexico City, the firm has committed approximately $40 billion to more than 180 investments in North America, South America, Europe, Africa, Asia, and Australia.
About White Summit Capital
WSC is an investor and asset manager specialized in the infrastructure and energy sectors, with over €1.3 billion of managed infrastructure investments to date.
Headquartered in Zug, Switzerland, WSC has offices in Madrid, London, and Mexico City with a total of 10 operational and transactional professionals.
With this transaction, WSC becomes manager of 335 MWp of utility-scale operating renewable assets across Mexico and Spain.