Nova Clean Energy, based in Chicago and Austin, has acquired HyFuels, a renewable energy developer with over 1 gigawatt of wind and solar projects in advanced development, as well as agreen ammonia project on the Texas Gulf Coast. This region, a vital center for the petrochemical industry, is experiencing a growing demand for energy.
Agreement details
Nova purchased HyFuels from BNB Renewable Energy, an experienced developer with nearly two decades in the renewable energy sector in the United States and Mexico. HyFuels’ projects, spread over some 25,000 acres, will benefit from a balance of wind and solar generation.
Projections and impacts
The first phase of the HyFuels project is scheduled for full procedural notification (NTP) in 2025 and commercial commissioning in 2026. This initiative aligns Nova with growth trends for enhanced transmission and increased end-customer demand in sectors such as mobility, green fuels, and artificial intelligence.
Strategic partnerships and local support
Nova has also signed a long-term development services agreement with BNB, which initiated the development of HyFuels in late 2020. This partnership is designed to ensure the successful delivery of the project. Jos Nicholas, CEO of BNB, expressed his enthusiasm for the project and thanked local stakeholders for their continued support.
Community involvement and future development
Nova and BNB plan to work closely with communities in Calhoun and Victoria counties to develop these renewable resources. This partnership hopes to bring low-cost electricity and green ammonia to this productive region, thereby contributing to the national economy.
Nova Clean Energy’s acquisition of HyFuels marks a significant expansion of its renewable portfolio, reinforcing the company’s commitment to sustainable energy transition and supporting regional energy independence.
