Nova Clean Energy acquires over 1GW of renewable energy projects from BNB Renewable Energy
Nova Clean Energy has announced its acquisition of HyFuels, a significant portfolio consisting of over 1 gigawatt (GW) of mid-to-late-stage wind and solar development projects, along with an earlier stage green ammonia project, from BNB Renewable Energy. This strategic acquisition is set in the Texas Gulf Coast, a rapidly growing hub for power demand and a key center for American-produced ammonia, catering especially to the petrochemical industry.
Located in an area of about 25,000 acres, HyFuels boasts a balanced power supply split between wind and solar energy, which together provide a consistent and reliable source of clean energy. The projects are optimally positioned to bolster Texas’s status as a global leader in the petrochemical sector. The first phase of the project is expected to receive Full Notice to Proceed (NTP) by 2025, with Commercial Operations slated to begin in 2026.
Ben Pratt, President of Nova Clean Energy, expressed enthusiasm about the acquisition: “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 commented on the partnership’s progress: “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.”
As part of the acquisition, Nova has entered into a long-term development services agreement with BNB, who originally initiated the project development in late 2020. This agreement ensures alignment on the successful delivery of the HyFuels project. Throughout their collaboration since mid-2023, both companies have made significant advancements, including completing necessary environmental surveys, securing a feasible schedule for connection to the power grid, and ordering long lead-time equipment.
Since its inception in 2022, Nova Clean Energy has rapidly expanded, now boasting a project pipeline that exceeds 5 GW across eight states and multiple power markets, including WECC, MISO, and ERCOT. The company’s growth is driven by three core themes: expansion and strengthening of transmission networks, new end-customer demand in sectors like mobility, green fuels, and AI, as well as growing build-transfer opportunities driven by increased utility ownership.