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Masdar Accelerates U.S. Renewables Expansion, Closes Acquisition of 50% Stake in Terra-Gen

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Masdar’s joint ownership of Terra-Gen demonstrates long-term commitment to investing in and supporting U.S. energy transitionTerra-Gen’s gross operating portfolio comprises 3.8GW of wind, solar and battery storage projects, including 5.1GWh of energy storage facilities across 30 renewable power sitesTerra-Gen’s 12GW+ pipeline includes new windfarm and new solar park to start commercial operations in 2025

ABU DHABI, UAE and NEW YORK, Oct. 1, 2024 /PRNewswire/ — Abu Dhabi Future Energy Company PJSC – Masdar (“Masdar”), the United Arab Emirates’ clean energy powerhouse, today announced the closing of its acquisition of a 50 percent stake in Terra-Gen Power Holdings II, LLC (“Terra-Gen” or “the Company”), one of the largest independent renewable energy producers in the United States, from Energy Capital Partners (“ECP”).

ECP, one of the largest private investors in power and renewable assets in the United States, has fully exited its position in Terra-Gen in connection with the closing of the transaction. Igneo Infrastructure Partners (“Igneo”), a global infrastructure investment manager, retains its existing 50 percent stake in Terra-Gen.

Representing one of Masdar’s largest transactions, the deal further cements Masdar’s position in the U.S. Masdar first entered the market in 2019 and has a proven history of funding, developing, owning and operating clean energy projects in the country. Before the Terra-Gen acquisition, its U.S. portfolio of utility scale wind, solar and storage assets had a generating capacity of more than 1.4GW.  The U.S. market and Terra-Gen’s scalable platform will play important roles as Masdar executes its plan to build 100GW of capacity in its global renewable energy portfolio by 2030.

Terra-Gen’s gross operating portfolio currently comprises 3.8GW of wind, solar and battery storage projects, including 5.1GWh of energy storage facilities across 30 renewable power sites throughout the U.S., predominantly in California and Texas.

Terra-Gen is currently developing more than 12GW of wind, solar and battery storage projects in the U.S. Its development activities include projects in California, Texas and New York. The project pipeline includes 386MW of Texas wind and California solar, and 512MWh of California energy storage facilities, with commercial operations anticipated in 2025.

HE Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President and Chairman of Masdar, said: “The UAE and U.S. have long been partners in efforts to advance clean energy, a collaboration culminating in the Partnership for Accelerating Clean Energy (PACE) agreement. Masdar has a strong track record of supporting U.S. renewable energy projects, and the acquisition of Terra-Gen reaffirms this long-standing commitment. We are now on target to surpass our goal of having 10GW of integrated renewable generation capacity in the U.S. by 2030. This transaction unlocks further economic opportunities from green growth, and aligns with the global ambition to triple renewable energy capacity, in line with the historic UAE Consensus reached at COP28.”

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said, “Terra-Gen’s experienced management team and scalable platform make it the ideal partner, as we work to increase our presence and investment in the U.S. as part of Masdar’s commitment to a long-term strategy in this important market. We look forward to partnering with Igneo to enhance Terra-Gen’s capabilities and position it as a leading developer, owner and operator of reliable and clean renewable energy in the U.S.”

Jim Pagano, CEO of Terra-Gen, said, “The finalization of this deal cements a strong relationship between Masdar and Terra-Gen. Masdar is a great partner for Terra-Gen because of our shared focus on developing clean energy projects and our commitment to decarbonization. We look forward to working with them to expand and build on our pipeline of U.S. projects.” 

Niall Mills, Managing Partner and Global Head of Igneo, said, “Terra-Gen has been a strong platform for Igneo in the U.S. since our investment in 2020.  We see tremendous potential to continue driving growth and creating long-term value in the U.S. renewable power sector through the capable and experienced team at Terra-Gen, and we look forward to partnering with Masdar on this exciting next phase of expansion.”  

Established in 2006, Masdar has a long-standing commitment to advancing renewable energy projects across the globe. The purchase of a 50% share in Terra-Gen represents another significant milestone as the company works to support the target set in the historic UAE Consensus to triple global renewables capacity by the end of this decade.

Masdar’s commitment to the U.S. market reflects the UAE’s strong ties to the country. In January 2023, UAE and U.S. officials announced that US$20 billion will be allocated to fund 15GW of clean energy projects in the U.S. before 2035, led by Masdar and a consortium of US private investors, under the Partnership for Accelerating Clean Energy (PACE) between the two countries.

Transaction Advisors

Lazard and Guggenheim Securities are serving as financial advisors, and Latham & Watkins LLP is serving as legal advisor to Terra-Gen. BMO Capital Markets and JP Morgan are serving as financial advisors, and White & Case LLP and Covington & Burling LLP are serving as legal advisors to Masdar. Mayer Brown is serving as legal advisor to Igneo Infrastructure Partners.

About Masdar:
Masdar (Abu Dhabi Future Energy Company) is one of the world’s fastest-growing renewable energy companies. As a global clean energy pioneer, Masdar is advancing the development and deployment of solar, wind, geothermal, battery storage and green hydrogen technologies to accelerate the energy transition and help the world meet its net-zero ambitions. Established in 2006, Masdar has developed and invested in projects in over 40 countries with a combined capacity of over 20 gigawatts (GW), providing affordable clean energy access to those who need it most and helping to power a more sustainable future. Masdar is jointly owned by TAQA, ADNOC, and Mubadala, and is targeting a renewable energy portfolio capacity of 100GW by 2030 while aiming to be a leading producer of green hydrogen by the same year.

For more information please visit: https://www.masdar.ae and connect: facebook.com/masdar.ae and twitter.com/masdar

About Terra-Gen: 
Terra-Gen, LLC is a leading U.S. developer, owner and operator of utility-scale renewable energy projects in North America. Terra-Gen’s gross operating portfolio comprises 3.8GW of wind, solar and battery storage projects, including 5.1GWh of energy storage facilities across 30 renewable power sites throughout the U.S., predominantly in California and Texas. Formed in 2007, Terra-Gen is owned by Abu Dhabi Future Energy Company PJSC – Masdar (“Masdar”), the United Arab Emirates’ clean energy powerhouse, and Igneo Infrastructure Partners, a leading global investment manager with US$19.5 billion in direct infrastructure assets. For more information, visit www.terra-gen.com.

About Igneo Infrastructure Partners:  
Igneo is an autonomous investment team in the First Sentier Investors Group. It invests in high-quality, mature, mid-market infrastructure companies in renewables, digital infrastructure, waste management, water utilities and transportation / logistics sectors in North America, the UK, Europe, Australia and New Zealand. Operating since 1994, the team works closely with portfolio companies to create long-term sustainable value through innovation, a focus on responsible and proactive asset management. As of June 30, 2024, Igneo managed more than US$19.2 billion in assets for 200 investors around the world. For more information visit igneoip.com.

About ECP:

Energy Capital Partners (ECP), founded in 2005, is a leading equity and credit investor across energy transition, electrification and decarbonization infrastructure assets. The ECP team, comprised of 90 people with 800 years of collective industry experience, deep expertise and extensive relationships, has consummated more than 100 equity (representing nearly US$60 billion of enterprise value) and over 20 credit transactions since inception. For more information, visit www.ecpgp.com.

Photo – https://mma.prnewswire.com/media/2519833/Masdar.jpg
Logo – https://mma.prnewswire.com/media/2514011/MASDAR_Logo.jpg

 

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MOSTLY AI Launches Synthetic Text to Overcome AI Training Plateau and Unlock High-Value Proprietary Data

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As the world runs out of public data to train AI, the new functionality safely unlocks proprietary text data to accelerate LLM development for the deployment of high-quality generative AI solutions

VIENNA and NEW YORK, Oct. 1, 2024 /PRNewswire/ — MOSTLY AI, a pioneer in structured synthetic data, has launched a synthetic text functionality, expanding the power and potential of synthetic data to train AI models as global entities struggle to leverage proprietary data assets because of privacy concerns. With this new functionality, enterprises can unlock the vast amount of proprietary text collected, such as emails, customer support transcripts, and chatbot conversations, without compromising privacy, to train and fine-tune large language models (LLMs) for faster innovation and better decision-making.

“Today, AI training is hitting a plateau as models exhaust public data sources and yield diminishing returns,” said Tobias Hann, CEO of MOSTLY AI. “To harness high-quality, proprietary data, which offers far greater value and potential than the residual public data currently being used, global enterprises must take the leap and leverage both structured and unstructured synthetic data to safely train and deploy forthcoming generative AI solutions.” 

By 2026, Gartner predicts that 75% of companies will use generative AI to create synthetic customer data, up from less than 5% in 2023. MOSTLY AI is enabling this mass adoption by expanding its platform to include synthetic text, which solves three major enterprise challenges today:

Real text data often contains sensitive information, such as personally identifiable information (PII), posing a risk of unintended exposure when used in LLMs.The available text data may not be optimal for LLM training as it often lacks diversity, and manually creating this specialized data is labor-intensive and can yield low-quality results.Companies are shifting focus from public to proprietary data. However, text data is never standalone; it comes intertwined with other structured data about their customer base.

Synthetic data is set to become the driving force behind LLMs. Leveraging advanced tools to unveil deep insights hidden in proprietary data is paramount for strategic, informed decision-making across operations. MOSTLY AI provides companies with a synthetic representation that reflects both the text and the structured insights they hold. By uniquely integrating structured and unstructured data, MOSTLY AI enables enterprises to safely create a complete and statistically accurate picture of their proprietary data assets to fine-tune and deliver high-quality, bespoke generative AI solutions in a safe and compliant way.

In addition to safety and compliance, a critical factor to consider with synthetic text is its quality. When training a downstream text classifier, synthetic text generated by the MOSTLY AI Platform delivers performance improvement as much as 35% compared to text generated by prompting GPT-4o-mini providing either no or just a few real-world examples. This significant boost demonstrates MOSTLY AI’s ability to produce high-quality, impactful synthetic data.

With this launch, enterprises can take any model from Hugging Face and fine-tune it with proprietary text data to generate synthetic data, streamlining a process that is typically complex and time-consuming. This innovation by MOSTLY AI makes it extremely convenient for large organizations to harness the power of creative, private, high quality synthetic text.

“Being able to seamlessly leverage open source models like our own Viking-7B on MOSTLY AI’s platform underlines the transformative potential of synthetic data,” said Peter Sarlin, CEO of Silo AI. “With the ability to privacy-preserving fine-tune models using proprietary text data, we’re moving beyond the sheer quantity of data to a focus on quality, which is critical for the future of AI training.”

“Bringing almost a decade of deep technical expertise, MOSTLY AI delivers superior quality and reliability, and is backed by a highly experienced team and industry-leading technological excellence,” said Christoph Hornung, Partner at Molten Ventures, investor in MOSTLY AI. “With the platform’s expansion into synthetic text, MOSTLY AI is well-positioned to support any enterprise with its sensitive data and LLM needs.”

Founded in 2017, MOSTLY AI works with global enterprises and partners including AWS, Databricks, O2 Telefónica, and more. To learn more about the company’s synthetic text functionality or get in touch with the team, please visit mostly.ai.

About MOSTLY AI
MOSTLY AI pioneered the creation of synthetic data for AI model development. Datasets generated by the MOSTLY AI platform look just as real as a company’s original customer data with just as many details, but without the original personal data points – helping companies comply with privacy protection regulations such as GDPR and CCPA. The fast-growing company currently works with multiple Fortune 100 insurers and banks in Europe and North America. Its team has the deepest expertise in helping companies get business value out of synthetic data.

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Contracts to Payments Simplified, with Integrated Contract, eSignature, Invoice & Document Management Solution

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SUNNYVALE, Calif., Oct. 1, 2024 /CNW/ — SutiSoft, a global leader in cloud-based business solutions, proudly announces the launch of its groundbreaking platform that will redefine the way businesses manage contracts. This innovative solution allows users to create contracts, sign electronically, automatically generate invoices, and securely store documents—all within one seamless, user-friendly interface.

Modernizing Contract Management

In today’s fast-paced business environment, organizations need solutions that streamline operations, eliminate manual processes, and drive productivity. SutiSoft’s new platform delivers just that—offering a comprehensive, end-to-end solution that automate and simplify critical contract management workflows, from creation to completion – all from a single interface, with unprecedented ease and efficiency.

Key Features

Create Contracts Easily: Draft legally binding contracts using a user-friendly interface that supports customizable templates and workflows, ensuring consistency across agreements.eSign Documents: Close deals faster with secure, legally compliant electronic signatures. The platform ensures seamless signing from multiple parties, with real-time notifications and progress tracking.Generate Invoices Automatically: Once a contract is signed, the system automatically generates corresponding invoices, streamlining payment processes and ensuring precise billing.Store and Manage Documents Efficiently: All documents—from contracts to signed agreements and invoices—are securely stored in a robust Document Management System (DMS), ensuring that only authorized people can access the documents with detailed audit trails. 

“Switching between multiple systems to run your core operations adds layers of complexity, slowing down the process and increasing the chances of errors. We believe these critical workflows shouldn’t be so cumbersome. That’s why we envision a streamlined approach where every step—from contract creation to payment—can be managed effortlessly from a single interface. Our all-in-one platform transforms contract management from a fragmented, time-consuming process into a streamlined, efficient workflow. We’re giving companies the tools they need to operate smarter, save time, and stay competitive in a digital-first world.”

-N.D. Reddy, CEO of SutiSoft.

About SutiSoft

SutiSoft provides a wide range of cloud-based software solutions designed to meet the needs of businesses of all sizes. From eSignature solutions to expense management, CRM, and HR, SutiSoft’s offerings help organizations increase productivity, improve efficiency, and drive growth.

To learn more about SutiSoft’s new contract management platform or request a demo, please visit https://www.sutisoft.com/.

Contact: 
CAROL SLONE
Media Communication
carol.slone@sutisoft.com
(650)969-7884×415

Photo: https://mma.prnewswire.com/media/2520528/Contract_Creation_to_Payments.jpg
Logo: https://mma.prnewswire.com/media/2443868/4773576/SutiCLM_Logo.jpg 

 

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Teledyne LeCroy Unveils Next-Generation CXL™ 2.0 Device Validation Solution

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OakGate CD280-G5 tests High-Performance, Data-Intensive CXL Memory Devices at Scale

LOOMIS, Calif., Oct. 1, 2024 /PRNewswire/ — Teledyne LeCroy, a global leader in protocol test and measurement solutions, proudly announces the OakGate CD280-G5 CXL validation test solution for PCIe 5.0-based Compute Express Link (CXL) memory expansion devices. This next-generation test solution verifies performance and functionality of CXL 2.0 memory devices, accelerating their time-to-market while ensuring high reliability.

Meeting the Demands of AI and Big Data

The rise of artificial intelligence (AI) and big data is driving the shift towards heterogeneous computing, where multiple processors work in parallel to process vast amounts of data. CXL, an open standard interconnect supported by PCIe 5.0, enables high-speed, low-latency communication between the host processor and devices such as accelerators, memory buffers, and smart I/O devices, expanding memory capacity and bandwidth to new levels of performance.

Ensuring Reliable Performance

Functional and performance validation testing is crucial to ensure CXL memory expansion devices meet the CXL standard prior to their release. The OakGate CD280-G5, designed in collaboration with data center architects as well as memory and chipset manufacturers can reliably ensure the intended performance is met.

“Micron’s collaboration with Teledyne LeCroy has helped mature the CXL compliance test ecosystem, in addition to strengthening our own CXL innovation and efforts to deliver the Micron CZ120 memory expansion module, the industry’s first CXL-compliant device in production,” said Siva Makineni, vice president of Advanced Memory Solutions at Micron. “Teledyne LeCroy’s CXL validation capabilities are playing an important role in ensuring the quality and compliance of our developing CXL 2.0 solutions. The new CD280-G5 CXL Validation Platform is enabling test and validation of advanced features to ensure broader industry adoption of CXL memory solutions.”

Advanced Features for Comprehensive Testing

The OakGate CD280-G5, equipped with the robust Endeavor validation software, offers a rich collection of validation and visualization capabilities, including:

Discovery and enumeration of CXL memory devicesAccess to PCIe and CXL register spacesExecution of common memory traffic patterns and workloadsCustomizable CXL commands via the Passthrough Command ToolBuilt-in security flows utilizing Security Protocol and Data Model (SPDM) over Data Object Exchange (DOE), System Management Bus (SMBus), and PCIe Vendor Defined Messages (VDMs)Power control and sideband testing (#PERST, #REFCLK, #PWRDIS)Launch and execution of CXL.org CXL Validation (CV) Tests

New Enhancements

The latest features packed into the Endeavor software and the CD280-G5 include:

Testing up to 8 EDSFF E.3 or CEM CXL devicesVoltage margining and power/sideband glitchingMemory interleavingAdditional SPDM security flowsProtocol analyzer functionalityBuilt-in test automation

A comprehensive Software Development Kit (SDK) based on Representational State Transfer Application Programming Interfaces (REST APIs) allows users to programmatically control and automate all features, ensuring consistent and repeatable test performance.

Availability

OakGate CXL validation test appliances are available for order now. For more information, contact Teledyne LeCroy at 1-800-5LeCroy (1-800-553-2769) or visit our website at Teledyne LeCroy OakGate CXL Validation Solutions.

About Teledyne LeCroy

Teledyne LeCroy, Inc. is a leading manufacturer of advanced oscilloscopes, protocol analyzers, and other test instruments that verify performance, validate compliance, and debug complex electronic systems quickly and thoroughly. Since its founding in 1964, the company has focused on incorporating powerful tools into innovative products that enhance “Time-to-Insight.” Faster time to insight enables users to rapidly find and fix defects in complex electronic systems, dramatically improving time-to-market for a wide variety of applications and end markets. Teledyne LeCroy is based in Chestnut Ridge, N.Y. For more information, visit Teledyne LeCroy’s website.

Technical contact:

Rob Dobson – Director of Product Mgmt. and Marketing

916-618-2372

Customer contact:

Teledyne LeCroy OakGate Customer Care Center

916-652-5132

Website:

https://teledynelecroy.com/OakGate

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SOURCE Teledyne LeCroy

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