Today’s renewable energy news includes announcements on Foss & Company, Illinois community solar, CHARBONE, Sorel-Tracy clean hydrogen project in Quebec, Energy Fuels, and others.
Foss & Company Closes $150 Million Tax Equity Deal for Illinois Community Solar Portfolio
Foss & Company has closed an approximately $150 million Section 48E tax equity investment supporting distributed clean-energy projects across Illinois owned through a joint venture between Summit Ridge Energy and Apollo Global Management. The transaction is the partners’ eighth tax-equity deal and among the industry’s first announced transactions under the new Section 48E Clean Electricity Investment Tax Credit framework. More than half the projects are expected to participate in Illinois’ Adjustable Block Program, securing 15- or 20-year renewable-energy credit streams. Summit Ridge has more than 3 GW of solar and storage operating or under development, has raised over $7 billion since 2017, and has financed more than 250 facilities serving over 60,000 homes and businesses.
CHARBONE Advances Sorel-Tracy Clean Hydrogen Expansion as Phase 1B Electrolyzer Arrives
CHARBONE has received the electrolyzer for Phase 1B of its Sorel-Tracy clean hydrogen project in Quebec, moving the expansion into equipment installation and integration. Construction contractors and technical partners will now position the electrolyzer, complete mechanical and electrical connections, conduct testing and commission the system. CHARBONE continues to target a fall 2026 launch. The expansion builds on Phase 1A hydrogen production and a broader industrial-gas strategy covering ultra-high-purity hydrogen, helium and oxygen. Preliminary Q2 gas income reached about $0.5 million, up 155 percent from approximately $0.2 million in Q1. CHARBONE had a market capitalization of roughly C$38 million at publication. The modular development model allows additional hydrogen capacity to be deployed progressively as customer demand grows.
Energy Fuels Qualifies $5.5 Million-per-Tonne Terbium Oxide for Japanese Magnet Manufacturing
Energy Fuels has achieved commercial qualification of terbium oxide produced at its White Mesa Mill in Utah by one of the world’s largest rare-earth permanent-magnet manufacturers outside China. The Japan-based customer determined that the material meets its specifications without requiring further validation. Terbium oxide is used to improve the temperature resistance and performance of NdFeB permanent magnets required for electric vehicles, renewable-energy equipment, robotics, aerospace and advanced electronics. Benchmark Mineral Intelligence data cited by Energy Fuels values terbium oxide at approximately $5.5 million per tonne. Energy Fuels has previously qualified neodymium-praseodymium and dysprosium oxides. Pending acquisitions of Australian Strategic Materials and Vacuumschmelze are intended to create a vertically integrated mine-to-permanent-magnet supply chain across the United States and Europe.
FAHEEMA P