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Good Morning. This is the Sunya Scoop. The newsletter that takes energy transition news and turns it into an easy-to-read email for you.
Here’s what we have for you today:
Anew Climate to deliver nearly 1 million nature-based carbon removal credits to Microsoft
Google partners with NV Energy for Clean Transition Tariff (CTT) focused on geothermal
Venture Global and DTEK Group sign HOA for US LNG to Ukraine
Solugen secures $213mm DOE loan for low-carbon chemical plant
General Atlantic’s BeyondNetZero fund acquires a quarter of Sustainable Development Capital
The almost headlines
In case you missed
Report of the week
TPG Rise and NGP-backed Anew Climate delivers over 970,000 nature-based carbon removal credits to Microsoft.
The credits are part of Microsoft's goal to achieve carbon negativity by 2030.
The credits are generated from Anew's North American improved forest management projects on lands owned by Aurora Sustainable Lands, Acadian Timber Corp., and Baskahegan Company.
Anew Climate focuses on creating value through environmental credits in low carbon fuel, carbon, renewable energy, and emissions markets.
3Degrees launched its innovative Carbon Removal Suite to facilitate corporate engagement with the carbon dioxide removal (CDR) market effectively.
The Carbon Removal Suite includes two products:
CDR Bridge: Provides access to verified carbon removals, emphasizing nature-based solutions with a selection of hybrid and engineered solutions.
CDR Catalyst: Enables organizations to accelerate their commitment to emerging carbon removal solutions, including a mix of engineered, hybrid technologies, and nature-based solutions.
All credits in the suite are verified, tracked, and retired on public registries by leading standards bodies, combining various carbon removal project types such as biochar and enhanced rock weathering.
Google announces a new partnership with NV Energy to create a Clean Transition Tariff (CTT) for clean, reliable power supply.
The CTT aims to facilitate investments in clean firm capacity to meet growing electricity demand with 24/7 carbon-free energy (CFE).
This partnership aligns with Google's goal to operate on 24/7 CFE by 2030 and addresses the limitations of traditional power purchase agreements (PPAs).
NV Energy is the first utility to operationalize the CTT, focusing on enhanced geothermal power to provide round-the-clock clean power to Google's data center operations in Nevada.
The partnership with NV Energy builds on a commercial pilot with Fervo Energy, showcasing advancements in enhanced geothermal technology.
Google aims to collaborate with utilities and regulators to accelerate investments in clean energy capacity and support a thriving, carbon-free economy.
Venture Global and D. TRADING (DTEK Group's commercial arm) sign a comprehensive Heads of Agreement (HOA) for U.S. liquefied natural gas (LNG) supply to Ukraine and Eastern Europe.
The agreement includes purchases from Venture Global's Plaquemines LNG facility starting later in 2024 through 2026, supporting energy security in the region.
D. TRADING will also buy up to 2 million tonnes per annum (MTPA) of LNG from Venture Global's CP2 LNG facility for 20 years.
Cooperation is planned for accessing regasification terminal and gas pipeline capacities to create an integrated transport path for energy security.
CP2 LNG's initial phase has 20-year agreements with various companies, and Venture Global is actively discussing the remaining capacity while advancing off-site construction, pending regulatory authorizations.
Aramco and NextDecade announce a non-binding Heads of Agreement (HoA) for a 20-year LNG sale and purchase agreement (LNG SPA) from Train 4 at the Rio Grande LNG Facility.
The agreement entails Aramco purchasing 1.2 million tonnes per annum (MTPA) of LNG on a free on board basis, indexed to Henry Hub prices.
The parties are in the process of negotiating a binding agreement, pending a positive Final Investment Decision (FID) on Train 4.
NextDecade aims for FID on Train 4 in the second half of 2024, contingent upon finalizing an engineering, procurement, and construction (EPC) contract, securing commercial support, and obtaining financing.
Solugen secures a conditional commitment for a $213.6 million DOE loan guarantee to support the construction of its Bioforge Marshall facility in Southwest Minnesota.
The loan will bolster U.S. leadership in green manufacturing and domestic chemical production, meeting DOE requirements for innovative technology deployment and greenhouse gas emission reduction.
The Bioforge Marshall facility, spanning 500,000 square feet, will utilize dextrose to expand production of Solugen’s organic acids and other products, reducing reliance on fossil fuels.
The facility is expected to reduce annual carbon emissions by up to 18 million kilograms compared to traditional methods, creating up to 100 construction jobs and 56 full-time manufacturing jobs.
Blackstone's private equity funds have agreed to acquire SEVES Group, the parent company of SEDIVER Group, from Triton Partners in a definitive agreement.
SEDIVER is a global provider of toughened glass electrical insulator solutions for high-voltage transmission grids, with over 600 million insulators in service worldwide.
SEDIVER's products play a critical role in modernizing electrical grids in developed economies and expanding grid systems in emerging markets, aligning with the global electrification trend.
The partnership with Blackstone is expected to enable SEDIVER to make strategic investments to increase capacity and serve utility customers and partners worldwide.
Sustainable Development Capital LLP (SDCL) announces a minority investment from General Atlantic's BeyondNetZero climate growth fund, acquiring 24.9% of SDCL pending regulatory approval.
General Atlantic's investment includes joining SDCL's board of directors
SDCL focuses on energy efficiency and decarbonization solutions globally, targeting sustainable energy infrastructure assets to reduce costs, carbon emissions, and improve energy supply reliability.
The partnership aims to support SDCL's ambitions in developing and investing in efficient and decentralized energy solutions for clients while delivering sustainable returns for investors.
SDCL's track record includes projects for major clients like Citigroup, Santander, healthcare organizations, commercial and industrial sectors, with a focus on technologies like solar, storage, renewable heat, and energy conservation measures.
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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.
