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Catalina Energy Capital Debuts with Big Solar & Storage Deals
Mirova and BNP Paribas AM Back Arkolia with €200M+ Investment
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Investment: ADNOC launches XRG, targeting global clean energy and chemicals markets with $80B in enterprise value.
Goals: Double asset value in a decade by targeting energy transformation, AI, and emerging market growth.
Market Projections:
LNG demand: +65% by 2050.
Natural gas demand: +15% by 2050.
Low-carbon ammonia demand: +90M tonnes/year by 2040.
Focus Areas:
Chemicals: Address 70% demand growth by 2050.
Gas: Build a portfolio aligned with rising demand for LNG and natural gas.
Low Carbon: Invest in decarbonization and clean energy solutions.
Timeline: Operations to begin Q1 2025; global strategy day planned for launch year.
Deal: EQT and GIC to take majority ownership of Calisen, managing 16M+ smart meters in the UK.
Scope: Calisen provides smart meters, EV chargers, solar systems, batteries, and maintenance services.
Market: UK has 31M smart meters installed; Calisen holds a leading market share.
Growth Drivers: UK regulations aim to boost smart meter penetration, with annual installation rates projected to grow by 15%+ by 2030.
Partnership: Equitix retains a minority stake, with plans to expand into smart water metering.
Energy Transition: Smart meters are critical for integrating renewables and enhancing energy efficiency.
Location: Norway’s Brevik plant, part of Heidelberg Materials, achieves mechanical completion.
Scale: World’s first full-scale cement industry carbon capture facility; captures 400,000 metric tons of CO2 annually.
Timeline: Commissioning begins now, operational by 2025.
Partners: Developed under Norway’s Longship initiative, with SLB Capturi delivering the CO2 capture system (SLB: 80%, Aker: 20%).
Context: Cement accounts for ~7% of global CO2 emissions; Norway leads in industrial decarbonization.
Funding: InBC Investment Corp. invests CAD$15M, bringing Svante’s total funding to CAD$800M+ over the last decade.
Facility: New 141,000 sq. ft. Burnaby, BC site will manufacture filters capable of capturing 10M+ tonnes of CO2 annually.
Growth: Svante employs 300+ staff and plans to expand capacity significantly by 2030.
Market Drivers: Demand for CO2 capture tech growing due to emissions regulations in Canada, the US, and Europe.
Innovation: Nanoengineered filters and modular rotary contactors position Svante as a leader in scalable carbon capture solutions.
Founded by Dan Rittenhouse, Catalina Energy Capital focuses on renewable energy fundraising.
Early wins:
500 MW solar/storage portfolio sale for SolarStone Ltd.
$130M raise for Novel Energy Solutions from a $40B asset manager.
Equity/debt funding for Solar Collective with Current Equity Partners.
Aims to advise on 4 GW+ of solar and storage by year-end.
Deal: Uniper to supply 6 TWh of electricity to Stegra’s plant in Boden, Sweden, via a 6-year PPA from 2027 to 2032.
Purpose: Powers Stegra’s 700 MW electrolysis plant, enabling large-scale green hydrogen and steel production.
Production: Operations start in 2026, targeting 2.5M tonnes of green steel annually.
Impact: Green hydrogen will reduce iron ore to sponge iron, cutting industrial emissions in Europe.
Significance: Marks a key step in Stegra’s strategy to decarbonize heavy industries with renewable energy.
Deal: Mirova and BNP Paribas Asset Management acquire equal equity stakes in Arkolia, investing €200M+ to fund growth.
Focus: Arkolia, France’s #2 independent rooftop solar producer, operates across 562 MW of photovoltaic and wind capacity.
Ambitions: Aims to reach 1.5 GW capacity and double revenues to €500M+.
Leadership: President Jean-Sébastien Bessière retains his stake, staying as a key shareholder.
Funding: Secured €20M to expand its AI-driven carbon management platform.
Solution: Helps companies track, reduce, and report emissions, replacing manual tools like Excel.
Customers: Serves major brands like Lufthansa Technik, Coca-Cola, and Miele.
Impact: Focuses on scope 3 emissions; supply chains account for 80%+ of corporate emissions.
Backers: Funding round led by CommerzVentures, with Fly Ventures participating.
Enbridge Sets 2025 Targets, Hikes Dividend: Forecasts steady growth through 2025 with a 3% dividend increase and reaffirmed project pipeline strength.
Xpansiv Introduces Carbon-Only Trading Platform: Adds 75,000 Anew Climate forestry removal credits to its CBL Spot Exchange and Connect™ portfolio tools.
Arevon Taps Montana to Lead Project Growth: Appoints Shanelle Montana as CDO to expand its renewable energy development pipeline.
ExxonMobil Announces Leadership Shakeup: Liam Mallon retires after 34 years; Dan Ammann to lead Upstream, Barry Engle to head Low Carbon Solutions.
Check out the latest Sunya Stories podcast with JP Morgan’s Rama Variankaval.
Rama Variankaval is Global Head of Corporate Advisory & Sustainable Solutions at J.P. Morgan. This group combines the capabilities of Corporate Finance Advisory, Center for Carbon Transition, Sustainable Solutions, and Infrastructure Finance Advisory.
We talk energy transition, carbon reduction, and the impact of AI on energy.
This episode is audio-only and you can find it on Spotify or Apple Podcasts as well.
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
