PJM saw another surge in interconnection positions in their AF2 queue cycle which closed in March 2020. Over 450 project interconnection requests were filed, although PJM had only processed and published project information for 300 at the time of this post. Among processed applications, 71% were solar or solar-plus-storage projects comprising 16.5 GW of capacity. Indiana (3.4 GW), Ohio (2.8 GW), and Illinois (2.3 GW) were the states with the most aggregate solar interconnection requests in the AF2 queue class.
The continued investment in PJM by the development community comes even as regulatory uncertainty (MOPR Rule) and defections (New Jersey) introduce new challenges to an already competitive market for new generation resources. We see continued justification for the PJM investment case on the basis of three fundamental demand signals:
- Regulatory support from states such as Virginia and Pennsylvania for accelerated renewable energy transitions
- In states without regulatory support, voluntary energy transitions and IRPs from historically fossil-dominated utilities with enormous load requirements
- Continued demand from major corporations for virtual power purchase agreements and/or utility-facilitated green power
Galehead participated in the AF2 queue class with the addition of 150 MW of development project capacity in Ohio and West Virginia. In total, Galehead has over 750 MWs of projects under study by PJM.
Galehead Development is a technology, project origination, and asset management platform for Impact Infrastructure investments. The company is based in Boston, MA and has 18 full-time employees.