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Blackstone Closes $5.6B Energy Transition Fund, Expands Clean Energy Investments
KKR Invests Additional €587.5M in Enilive, Raising Stake to 30%
CarbonQuest Raises $20M to Expand Distributed Carbon Capture
Frontier Secures $30.6M DAC Offtake Deal with Phlair for 47,000 Tons CO₂ Removal
Chestnut Carbon Sells 64,000 Forest Carbon Credits, Secures $2.2M
Civitas Resources Acquires $300M in Permian Assets, Sets 2025 Outlook
Ring Energy Acquires $100M Central Basin Assets from Lime Rock
The almost headlines
In case you missed
Record Fundraising: BETP IV reaches $5.6B hard cap, 33% larger than its predecessor, backing clean energy infrastructure.
Strategic Investments: Supports energy efficiency, grid resilience, & electrification, including Sediver (grid components) & Trystar (backup power).
Global Impact: Blackstone Energy Transition Partners has deployed $23.5B+ in clean energy investments worldwide.
Increased Ownership: KKR ups its stake in Enilive from 25% to 30%, reinforcing investment in biorefining & smart mobility.
Strategic Investment: Part of KKR’s Global Infrastructure Strategy, managing $77B+ in infrastructure assets.
Sustainability Goals: Enilive operates 5,000+ fuel stations in Europe, expanding biofuels & Sustainable Aviation Fuel (SAF) production.
Funding Details: $20M Series Investment led by Riverbend Energy Group, with participation from Aligned Climate Capital & Energy Capital Ventures.
Technology Expansion: Supports Distributed Carbon Capture (DCC) deployment, targeting onsite power & CO₂ reuse markets.
Market Impact: Aims for industry-low cost per ton while scaling modular CCUS solutions for utilities, manufacturing & data centers.
Strategic Growth: Partnerships with Carbfix to explore carbon mineralization, expanding CarbonQuest’s commercial reach.
Electrochemical DAC Scaling: Phlair’s first commercial DAC facility in Alberta, Canada to be powered by on-site solar.
Industry Backing: Frontier, Stripe, Google, & Shopify purchase 47,000 tons CO₂ removal from 2027-2030.
Energy Efficiency Advantage: Targets <1.5 MWh/ton CO₂, lowering costs by $15/ton, accelerating sub-$100/ton CDR goal.
Market Expansion: Builds on initial 275-ton CO₂ pre-purchase in 2023, with Frontier supporting scalable DAC technologies.
First Credit Issuance: Sold 64,000 tons of carbon credits via Forest Carbon Works, generating $2.2M in revenue.
Major Buyers: JPMorgan Chase & other financial firms purchased credits to meet net-zero commitments.
Landowner Participation: 150,000+ acres across 36 states enrolled, providing alternative income for private forest owners.
Long-Term Impact: Credits backed by 60+ years of conservation easements, surpassing industry-standard 40-year durations.
Project Details: 160 MW / 320 MWh SMT Houston IV storage facility to support ERCOT grid, operational Q2 2026.
Funding Structure: $100M project financing led by Macquarie & KeyBanc, plus $62M investment tax credit sale.
Technology Partner: FlexGen HybridOS™ software to optimize battery dispatch & grid integration.
Expansion Pipeline: SMT Energy targets 2 GWh+ in storage projects by 2030, reinforcing U.S. grid reliability.
Funding Expansion: Insight Partners-led Series B, supporting 60+ mineral projects in North & South America.
Tech-Driven Exploration: AI-powered geophysical analysis targets concealed deposits, reducing discovery costs & risks.
Industry Validation: Attracts Blumberg Capital, Chrysalix, & Orion Industrial Ventures, with Insight’s Jeff Horing joining the board.
Global Resource Impact: Enhancing critical minerals supply for EVs, energy storage, & clean energy technologies.
Investment Rebalance: Plans $10B annually in oil & gas, boosting production to 2.3–2.5M BOE/day by 2030.
Cost & Divestiture Strategy: Cutting $4–$5B in costs, divesting $20B by 2027, & restructuring Castrol business.
Cash Flow & Shareholder Returns: $13–$15B capex range, aiming for 20% CAGR in free cash flow & increased dividends/buybacks.
Net-Zero Targets: Surpassed 2025 emissions reduction goal (38% vs. 2019 baseline); targets 45–50% reduction by 2030.
Financial Focus: Targets $1.1B free cash flow, reducing capex by 5% ($1.8–$1.9B) while maintaining 22% FCF yield.
Acquisition Details: 19,000 net acres, 130 future development sites, closing by Feb 2025.
Production & Debt Targets: 150K–155K BPD oil production, reducing net debt below $4.5B by year-end.
Operational Plans: 210 net turn-in-lines, deploying 5 rigs & 2 completion crews in the Permian Basin.
Deal Structure: $80M cash, $10M deferred payment, & up to 7.4M Ring shares for 17,700 net acres in Andrews County, TX.
Production Impact: Adds 2,300 BOE/day, strengthening Permian Basin footprint.
SLB Capturi Installs Key Carbon Capture Components at Ørsted’s Kalundborg Hub
Project Milestone: Installed five absorber-desorber units for Denmark’s first large-scale CCS facility.
Microsoft & Clearloop Partner on 100 MW Community-Focused Solar Projects
Renewable Expansion: Multi-year agreement to deploy 100 MW of solar capacity across 20 underinvested U.S. communities.
Slant Energy III Secures Equity Commitment from Pearl Energy Investments
Investment Focus: Targets upstream oil & gas acquisitions in the Permian Basin (West Texas & New Mexico).
Check out the latest Sunya Stories podcast with Bala Nagarajan from S2G Investments
Bala Nagarajan is Managing Director of the Energy Investment team at S2G Investments.
You can find it on Spotify or Apple Podcasts.
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.
