Galehead Adds “AG2” MWs to PJM Portfolio

PJM saw another banner cluster of generator interconnection applications in their March 2021 AG2 queue cycle, with a total of 691 project interconnection requests filed.

PJM saw another banner cluster of generator interconnection applications in their March 2021 AG2 queue cycle, with a total of 691 project interconnection requests filed. Among processed applications, 68% were solar or solar-plus-storage projects comprising 33.9 GW of capacity. Virginia (10.1 GW), Ohio (5.9 GW), and Indiana (5.8 GW) were the states with the most aggregate solar interconnection requests in the AG2 queue class.

The continued investment in PJM by the renewable development community came even as regulatory uncertainty (MOPR Rule) and legacy bailouts (in OH and IL) challenge 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 and legislative 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 thermal-dominated utilities with enormous load requirements
Continued demand from major corporations for virtual power purchase agreements settled in PJM hubs
Broad deployment of community solar programs in states and utilities through the mid-atlantic

Historically Galehead has been active in northern and western PJM with projects such as Border Basin under development in the AE/AF queue clusters. Galehead expanded its range with the addition of 430 MW of AG2 development project capacity predominantly in the “southern tier” of PJM. In total, Galehead has over 1 GW of renewable development pipeline under study by PJM.

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About Galehead:
Galehead Development is a technology, greenfield development, and asset management platform for Impact Infrastructure investments. Since 2016 Galehead has originated and developed a 8 GW pipeline of renewable projects either sold to or presently under joint development with third-party IPPs, including 5 GW in MISO and 2 GW in PJM. The company is based in Boston, MA and has 28 full-time employees.

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