In today’s construction news, read about the African American Cultural Garden still lacks almost $2 million in building funding, despite years of fundraising attempts. On the other hand, community solar developer, owner, and operator Dimension Energy finished building what are now the biggest third-party-owned community solar projects in the US. Lastly, despite reporting delays in several of its U.S. projects in the second half of 2024, the London-based builder anticipates an increase in revenue and backlog.
Construction Funding for the African American Cultural Garden is $2 Million Short
Original Source: African American Cultural Garden $2 million short in construction funding
African American Cultural Garden needs funds.
The African American Cultural Garden needs $2 million more for completion despite years of fundraising. Obie Shelton, executive director of AAACG, informed Cleveland City Council on the project Dec. 2.
Shelton attended a committee meeting to support garden laws. It would release $325,000 assigned to the project. Council approved the measure later that night at its last 2024 meeting.
The law enables Cleveland transfer funds to a AAACG-Cleveland Foundation fund. Since 2021, the city has held the funds for phase two construction and donor involvement.
But additional money is needed.
‘We have money for everything else’
Shelton stated the African American Cultural Garden was conceived in 1961. In 1977, the garden was dedicated. Construction began with a “Door of No Return” display. It recognizes the forced migration of African slaves to the Americas. Installation ended in 2016. From the garden’s elevation, it overlooks Martin Luther King Jr. Boulevard, which runs through Cleveland’s East Side Cultural Gardens.
Recently funded phase two construction includes a 300-person patio. Shelton said the water element represents the Ohio River and Great Lakes as “symbols of freedom.” The Cleveland Landmarks Commission approved phase two in October 2022.
Shelton estimated $4 million for the project. He reported half the cash goal achieved.
Council President Blaine Griffin, Ward 3 Council Member Kerry McCormack, and Ward 16 Council Member Brian Kazy asked officials and project executives to raise more funds to accomplish the long-planned project.
Kazy urged Mayor Justin Bibb to fully finance the deficit.
“I implore you to find Mr. Shelton the $2 million to finish this project,” Kazy stated. We have money for everything else, and this initiative is well-needed and deserved.”
The Cleveland Foundation funds Signal Cleveland.
My Massive Greek Garden
Another Cultural Garden’s guardians want to fulfill a decades-old plan. The Greek Garden Association of Cleveland will erect a giant stone frieze.
At its last regular meeting on Dec. 2, Cleveland City Council passed art-related legislation. The section allows the group to collect $250,000 from Ohio and install.
In a previous committee hearing, Cleveland Commissioner of Real Estate Susanne DeGennaro said the artwork and Greek Cultural Garden were planned in 1939. However, wartime shortages hindered frieze installation.
A frieze will feature dozens of Greek historical characters.
Arches to arches
Euclid Beach Park’s famous arches will move nearby. Many thanks to an arch-savvy company.
The city is receiving land at 15891 E. 159th St. from McDonald’s. Immediately west of the arches is vacant land. East 159th Street alterations require relocating the arch, which welcomed guests to a 1969-closed amusement park.
DeGennaro indicated in the meeting that Cleveland will turn the vacant area into a park with the archway. Council adopted legislation allowing the city to accept the donation.
Largest Third-party Community Solar Installation in U.S. Completed
Original Source: Construction complete on largest third party-owned community solar project in U.S.
A 44 MW California project will save commercial and residential users $18 million in energy costs, delivering solar to many who would otherwise have none.
This 44 MW sustainable energy project in Inyokern, California, will serve a varied range of Southern California Edison residential and commercial customers.
Community solar developer, owner, and operator Dimension Energy completed the largest third-party-owned community solar project in the US.
Southern California Edison will receive sustainable energy from the 44 MW Inyokern, California, project. More than 2,000 households, Long Beach and Corona municipal facilities, plus AT&T and Crown Castle will benefit from the community solar project.
JA Solar modules, TMEIC inverters, and Nextracker trackers were installed. Community solar project procurement, management, billing, and support are provided by PowerMarket.
The Inyokern facility will generate enough clean energy to eliminate 21,667 metric tons of greenhouse gas emissions, or 4,700 automobiles.
The California Public Utilities Commission (CPUC) proposed in March that the Net Value Billing Tariff (NVBT) conflicts with federal law, casting doubt on the future of the potentially booming community solar market. However, Dimension acquired approximately $100 million in project funding to advance this project.
Dimension Energy vice president of origination Bryan Bentrott told pv magazine USA, “Everything aligned perfectly for this project.” He said a utility-scale developer had abandoned this 130-acre location, which the company had been searching for. Dimension acquired the land “on favorable terms,” he claimed. Flat, in high desert with good sun exposure, and near transmission lines.
Dimension Energy co-founder and chief development officer Sam Younes said, “We turned a struggling utility scale site into the largest community solar project in the country despite tremendous policy hurdles in the state by taking advantage of the niche Green Tariff Enhanced Community Renewables program.” “This program has been non-functional except for our Inyokern project.”
Dimension’s vice president of policy, Brendan Smithwood, said the CPUC’s recommended decision won’t hurt Dimension’s California market interest. California has one of the largest electrical markets and needs these resources, he said. “The state has supported and benefited from small-scale energy projects, but the CPUC is not seeing them as opportunities.”
After starting in 2018, Dimension Energy has built over 500 MW of community solar and spent $500 million in clean energy. Over the next five years, the business will invest $3 billion in 12 U.S. states to develop over 2 GW.
The deal finalized in 2023 with Silicon Valley Bank (SVB), a First Citizens Bank division, National Bank of Canada, Comerica, and NT Solar.
Growth is Anticipated in the Year-end Report by Balfour Beatty
Original Source: Balfour Beatty predicts growth in year-end update
In a Dec. 5 trading update, London-based builder Balfour Beatty predicted backlog and revenue growth, following through on its half-year 2024 earnings call pledges.
According to Balfour Beatty, their order book is projected to increase by over 5% in 2024 from the 16.5 billion pounds ($21 billion) recorded in 2023. The corporation expects revenue to rise 2% from 2023’s 9.6 billion pounds.
The corporation also predicted a larger operating profit of 236 million pounds in 2023. It expects Construction Services profits to match 2023’s 156 million pounds and stated U.K. Construction profits will be offset by reduced U.S. Construction profits.
The UK corporation is working on two major projects: HS2, a high-speed rail route across the country, and Hinkley Point C, a nuclear power station in Somerset, southwest England. The BBC reported that the first new nuclear power station in 30 years was installed with its first reactor.
Energy, transport, and military are among the government’s infrastructure investments to support economic growth, which is good for Balfour Beatty in the medium term, according to the news release.
Balfour Beatty has problems in the U.S. The report said its buildings business performed well, but delays on a few projects in the second half of the year affected profits. Construction Dive requested more details on the delayed projects, but the company did not answer.
Despite the challenge, U.S. backlog is predicted to expand by over 10% in 2024, from 5.7 billion pounds in 2023, due to robust second-half order intake for buildings and civils. The U.S. buildings segment booked:
$600 million in hospitality.
Fed/state work worth $500 million.
$400 million for commercial office jobs.
$350 million for school contracts.
“In 2024, the Group has once again shown the benefit of the geographical and operational diversity of our portfolio, delivering an encouraging overall performance,” stated Balfour Beatty CEO Leo Quinn in a news release. “We are on track to deliver earnings growth in 2024.”
Summary of today’s construction news
In summary, another Cultural Garden’s guardians are trying to fulfill a goal that dates back decades. A frieze, a massive piece of stone art, will be installed by the Greek Garden Association of Cleveland. At its most recent regular meeting on December 2, the Cleveland City Council authorized legislation related to the art. The item enables the association to proceed with the installation after accepting $250,000 from the State of Ohio.
On the other hand, since its foundation in 2018, Dimension Energy has invested $500 million in sustainable energy assets and installed more than 500 MW of community solar. With more than 2 GW in development in 12 U.S. states, the business intends to invest more than $3 billion over the next five years. Partners Silicon Valley Bank (SVB), a division of First Citizens Bank, National Bank of Canada, Comerica, and NT Solar are involved in the agreement, which was finalized at the end of 2023.
Lastly, from the 16.5 billion pounds ($21 billion) it reported at the end of 2023, Balfour Beatty anticipates that its order book, or backlog, will increase by more than 5% in 2024. Additionally, the business anticipates a 2% increase in revenue above 2023’s 9.6 billion pounds. The business stated that its operational profit should surpass its 2023 projection of 236 million pounds. Improved earnings in its U.K. construction segment will be counterbalanced by decreased U.S. construction profitability, according to the company, which predicts its Construction Services division’s profits to be in line with 2023 results of 156 million pounds.