Nova Clean Energy (Nova) has announced its acquisition of HyFuels, a portfolio comprising more than 1 gigawatt of mid-to-late-stage wind and solar development projects, along with an earlier stage green ammonia project. Situated on the Texas Gulf Coast, HyFuels is strategically located in an area experiencing rapid power demand growth and recognized as a leading center for American-produced ammonia, serving the petrochemical industry.
The HyFuels portfolio spans approximately 25,000 acres and features an equal split between wind and solar power supply. This diversified generation profile ensures a consistent and reliable source of clean local energy. The initial phase of the project is anticipated to attain Full Notice to Proceed (NTP) in 2025, with Commercial Operations projected to commence in 2026.
Nova’s acquisition of HyFuels from BNB Renewable Energy (BNB), a seasoned developer with nearly two decades of experience in wind and solar projects across the United States and Mexico, underscores the company’s commitment to advancing sustainable energy initiatives. Nova has also entered into a long-term development services agreement with BNB, ensuring collaborative efforts towards the successful delivery of the HyFuels project.
Ben Pratt, President of Nova Clean Energy, emphasized the importance of a diverse energy mix for the Texas grid, noting that the combination of wind and solar aligns with the preferences of industrial and utility customers amidst rising demand.
Jos Nicholas, CEO of BNB, expressed enthusiasm for the partnership with Nova and the significance of the HyFuels project in delivering low-cost electricity and green ammonia to the Texas Gulf Coast region. He extended gratitude to various stakeholders for their support in advancing the project.
Since its establishment in 2022, Nova Clean Energy has experienced rapid growth across wind, solar, and battery storage sectors. With a project pipeline exceeding 5 gigawatts across 8 states and multiple power markets, Nova is poised for further expansion, driven by factors such as transmission network expansion, emerging end-customer demand, and increased utility ownership opportunities.
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