13 New Large-Scale Clean Energy Projects in May, Led By European Companies

Projects represent nearly 3,000 new jobs, $5 billion in 9 states 

WASHINGTON – Businesses announced plans for at least 13 new large-scale clean energy projects and plant expansions in nine states last month, according to national nonpartisan business group E2’s May analysis of new clean energy developments. Based on publicly available information, the 13 projects would create at least 2,900 jobs and over $5 billion in new private investment.* 

Five of the projects were announced by European companies crossing the Atlantic to take advantage of American clean energy incentives and tax credits – bringing jobs and economic opportunity with them. These European companies accounted for nearly $1.5 billion in investments alone and two-thirds of the expected job creation from projects announced in May. 

Over Memorial Day Weekend, Congress and the Biden administration struck a last-minute deal averting a federal default and cuts to historic clean energy investments passed last year. While the Inflation Reduction Act (IRA) federal clean energy investments emerged from these negotiations unscathed, the outcome was a close call from potentially catastrophic consequences for projects like the 13 announced in May and the close to 200 announced since the IRA passed. 

Following is a statement from E2 Executive Director Bob Keefe: 

“With every assault on clean energy, we undercut American competitiveness in the global economy and the once-in-a-generation economic opportunities that clean energy projects are already bringing communities across both red and blue states.  

“The IRA is creating an economic climate where America is once again an international envy for manufacturing, innovation, and growth. Federal investments and tax credits are empowering clean energy companies to build our resilience, create thousands of jobs, and slingshot the country toward a prosperous and sustainable clean energy future. This is a true American success story, and those looking to bring it down know their attacks are baseless.” 

Since the IRA passed last August, E2 has tracked 179 new projects announced in 35 states that will add at least $83 billion and create at least 63,000 jobs. A full list of the projects is available at e2.org/clean-energy-announcements/.  

 *Many of the projects do not have investment, job, or generation estimates as of this analysis.  

Detailed below is a list of clean energy announcements tracked by E2 in May. To receive the monthly Clean Economy Works newsletter, sign-up for email updates from e2.org/sign-up/.  A full list of announcements since IRA is available at e2.org/clean-energy-announcements/.   

Clean Energy Works May 2023 | projects announced by date  

To speak with E2 staff and our member business leaders in states across the country, please contact Michael Timberlake—(913) 645-9103, [email protected] or Kathryn Dunn— (781)-738-0730, [email protected].  

—  

Additional Resources:  

• E2: Clean Jobs America – 3.2 Million Clean Energy Jobs in America  

###

E2 is a national, nonpartisan group of business leaders, investors, and professionals from every sector of the economy who advocate for smart policies that are good for the economy and good for the environment. Our members have founded or funded more than 2,500 companies, created more than 600,000 jobs, and manage more than $100 billion in venture and private equity capital. For more information, see www.e2.org or follow us on Twitter at @e2org.