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Arbor signs to deliver 25,000 carbon removal credits to Microsoft
BTG Pactual TIG and Meta partner for 1.3 mm nature-based carbon removal credits
8 Rivers gets investment from JX Nippon for calcite DAC technology
Kimmeridge Texas Gas and Commonwealth LNG sign Heads of Terms with Glencore
RWE and AM Green Ammonia sign MoU for 250,000 tons/yr of ammonia from India
The almost headlines
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Check out the latest Sunya Stories podcast released today 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.
BlackRock, Global Infrastructure Partners, Microsoft, and MGX have launched the Global AI Infrastructure Investment Partnership to invest in data centers and energy infrastructure.
The partnership aims to enhance American competitiveness in AI and address the growing need for energy to support economic growth.
Investments will focus primarily on the United States, with additional funds allocated to U.S. partner countries.
NVIDIA will support the partnership by leveraging its expertise in AI data centers to benefit the broader AI ecosystem.
The goal is to unlock $30 billion in private equity capital over time, potentially mobilizing $100 billion with debt financing.
The partnership emphasizes the importance of AI for future economies and aims for sustainable growth and technological breakthroughs.
The partnership aims to address critical infrastructure financing needs through collaboration between private capital, corporations, and governments.
Arbor has signed a multi-year agreement with Microsoft to deliver 25,000 tons of permanent carbon dioxide removal.
Beginning in 2027, Arbor will provide 5,000 tons of carbon removal annually while generating 5 megawatts of clean electricity.
The clean electricity production is sufficient to power approximately 4,000 US homes year-round using organic waste as a fuel source.
All carbon removal will be registered with Isometric, a carbon removal registry known for its rigorous verification process.
Arbor's technology is based on Bioenergy with Carbon Capture and Storage principles and incorporates advancements in oxy-combustion and supercritical turbomachinery.
Once fully scaled in 2030, Arbor aims to generate 100 MW of electricity and remove almost two million tons of carbon each year.
BTG Pactual Timberland Investment Group announced a long-term contract with Meta for 1.3 million nature-based carbon removal credits, with options for an additional 2.6 million credits through 2038.
This initiative is part of a reforestation strategy in Latin America aimed at mitigating climate change while supporting biodiversity and local communities.
The agreement represents Meta's first major involvement in carbon removal efforts in Brazil.
Credits will come from BTG Pactual TIG's $1 billion reforestation strategy, supported by Conservation International as an Impact Adviser.
The strategy emphasizes the conservation, restoration, and planting of trees in degraded areas, including the biodiverse Cerrado biome in Brazil.
The deal is part of Meta's broader carbon removal strategy and supports their goal of achieving net zero emissions across its value chain by 2030.
8 Rivers Capital has secured an investment from JX Nippon Oil Exploration for the commercialization of its Calcite direct air capture technology.
Project Cardinal, the first commercial deployment, will be located in the U.S. Gulf Coast and is set to begin FEED in 2025.
The SEDAC hub has been awarded $20.5 million for FEED studies to support the construction of two facilities with a capture capacity of 50,000 net DAC tonnes of CO2 each.
JX's investment will also aid in technology derisking at the Calcite pilot project in Mobile, Alabama, highlighting the technology's potential for affordable, scalable emissions reduction.
This marks JX's initial venture into the DAC sector and emphasizes the ongoing partnership between 8 Rivers and JX.
Their collaboration began in 2021 with a Comprehensive Collaboration Agreement targeting unique carbon capture market opportunities.
Following this investment, JX aims to deploy Calcite across projects in the Asia Pacific region.
JX operates the Petra Nova CCUS project in Texas, capturing 1.4 million tons of CO2 annually, underlining its commitment to carbon neutrality.
Woodside has signed a sale and purchase agreement with JERA for the long-term supply of liquefied natural gas to Japan.
Under the agreement, Woodside will supply approximately 0.4 million tonnes of LNG per year over 10 years, starting in April 2026.
The LNG will be sourced from Woodside's global portfolio.
This follows Woodside's earlier agreement to sell a 15.1% non-operating participating interest in the Scarborough Joint Venture to JERA.
Woodside expects the Scarborough equity sale to JERA to be completed by the end of 2024.
Kimmeridge Texas Gas and Commonwealth LNG have signed a Heads of Terms agreement with Glencore to form a strategic natural gas and LNG partnership.
Glencore will purchase 2 million tonnes per annum of LNG for 20 years from Commonwealth and equivalent natural gas from KTG under a netback agreement at international prices.
Definitive agreements are expected to be finalized in Q4 2024.
Commonwealth anticipates a final investment decision on its LNG export facility in Louisiana in the first half of 2025, with initial LNG production expected in 2028.
RWE has secured the ammonia for its global supply portfolio for delivery from 2027.
The green ammonia produced at AM Green Ammonia's sites in India meets EU standards for Renewable Fuels from Non-Biological Origin as defined in the RED III.
RWE Supply & Trading has signed a Memorandum of Understanding with AM Green Ammonia for the long-term supply of green ammonia from its plants based in India.
The agreement outlines the supply of up to 250,000 tonnes of green ammonia per year from AMG's production sites in Kakinada and Tuticorin, India.
Initially, 50,000 tonnes of green ammonia will be produced at the Kakinada site, with up to 200,000 tonnes sourced from the Tuticorin facility.
AMG's ammonia manufacturing facilities will be powered entirely by carbon-free energy sources such as solar, wind, and hydroelectric power.
Deliveries of green ammonia from AMG's sites are expected to start by 2027.
BP plans to sell its U.S. onshore wind energy business as the assets are not aligned with its growth plans.
The sale process for the wind assets, known as bp Wind Energy, will begin shortly.
BP Wind Energy has interests in 10 operating onshore wind energy assets across seven U.S. states.
Several offshore wind companies have recently canceled or renegotiated power contracts for U.S. projects due to rising material costs, high interest rates, and supply chain disruptions.
bp Wind Energy's assets have a total net generating capacity of 1.3 gigawatts.
BP intends to integrate its onshore renewable power development into Lightsource bp.
In November, BP announced it would acquire full ownership of Lightsource bp, Europe's largest solar energy developer.
Bayou Midstream II Secures Equity Commitment From EIV Capital
Frontier facilitates fourth round of carbon removal prepurchases
Arevon secures $351 million financing package for its Gibson solar project in Indiana
Kimray and Kathairos forge partnership to deliver zero-emissions solutions for upstream oil and gas
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.
